Expleo Solutions (Earlier: SQS India BFSI) – A niche Small Cap Value Pick

My initial hypothesis is that at the current stage, the org should be more efficient. Have questions and doubt the efficiency of management

• As per LinkedIn, the company has around 13k employees. The employee size is more than KPIT which does more sales and generates higher PBT

  
  
  
  

• Don’t think the company is growing fast. The hiring rate seems slow for IT. Again comparing with KPIT here.

  
  

• Got the idea to compare with KPIT because – noticed that multiple employees common between the two orgs. Looks like they poach from KPIT whereas KPIT does the reverse

Outcome: Moving out of my watchlist.