CIEL HR Makes Grand Entry into INR 1000 Crore HR-Club
● CIEL HR Services crossed the Revenue milestone of INR 1000 Crore
● Emerges as a formidable force in the HR Solutions industry with a brand value of USD 30 Million
● In an industry first, the brand also received recognition for its brand strength in the prestigious India 100 – 2024 Report
● HR Platform business grew rapidly by registering 4 times growth in revenue and 43% contribution to segmental EBITDA in FY24
Chennai, 2nd July, 2024: CIEL HR Group, a holistic HR solutions provider offering HR Services and HR Platforms, today announced a significant milestone of achieving INR 1000 Crore revenue by maintaining its industry-best growth momentum through a mix of organic and inorganic growth. In addition to this, the Company proudly presented the mention of CIEL HR in the Brand Finance’s report titled as ‘India 100 – 2024’. Brand Finance, the world’s leading brand valuation consultancy, in its India 100 by Brand Value study recognises CIEL HR for its brand strength and a brand value of USD 30 million.
Commenting on this, Mr. K. Pandiarajan, Executive Chairman, CIEL HR Group said, “We are very happy to announce that CIEL HR has achieved a significant milestone by surpassing INR. 1000 crore revenue in just nine years of its journey. This accomplishment underscores our sustained growth trajectory driven by a strategic mix of organic expansion and strategic acquisitions. Furthermore, it is a matter of great pride for us to be recognised by Brand Finance in their prestigious ‘India 100 – 2024’ report.”
The HR Services business of the Company has grown by market opportunities in the industry cohorts of AI, cybersecurity, green energy, climate technologies, supply chain, and advanced manufacturing. GCCs, IT products and services, financial services, consumer goods and healthcare constitute a strong client base for the company.
The Revenues from the HR Platforms business have become 4x and the EBITDA contribution is 43% of the segmental EBITDA of the Group. The company continues to invest in this line of business to deploy the latest technologies and drive innovation.
Brand Strength and Market Position:
● Brand Value: Brand Finance, the world’s leading brand valuation consultancy, in its India 100 by Brand Value study recognises CIEL HR for its brand strength. The study is an objective assessment of over 250 Indian brands spanning many sectors. The study assigns a brand strength rating of AA and a brand value of USD 30 million. They state that “This rapidly growing brand presents a compelling future prospect.”
● Great Place to Work: Certified as a ‘Great Place to Work’ for the 5th consecutive year.
● Market Recognition: Ranked as a top LinkedIn brand among the Top 10 leading HR players in India, with prominent media mentions and headline shares.
Inorganic Growth:
● Acquired full equity in Aargee Staffing Services Private Limited, enhancing CIEL’s IT Staffing services.
● Acquired a majority stake in Firstventure Corporation Private Limited, Courseplay, bolstering the HR platform offerings, a leading Learning Management and Experience Platform.
● Jombay, acquired in the previous fiscal year, flourished in FY24 with revenue growth skyrocketing to an all-time high.
Technology Investments: CIEL HR continues to invest in technology, delivering greater value to clients and enhancing internal efficiencies. In FY24 the investments were INR 100 Million.
Significant advancements were made in FY24, including improved platform security and AI-powered solutions in:
● Talent assessment platform – Jombay: Dramatically increases the processing speed and significantly reduces turnaround times, especially for subjective evaluations that traditionally require extensive human review. Moreover, our AI minimises human assessor bias, ensuring fairer outcomes for all candidates.
● Talent Engagement Platform – Jombay: Instead of relying solely on multiple-choice responses, Jombay’s AI analyses employee narratives. This innovative method provides a more nuanced and accurate understanding of engagement levels. Our AI-based action-planning dashboard for managers substantially reduces the action-planning cycle by an order of magnitude.
● Learning Management and Experience Platform – Courseplay: Revolutionises how businesses empower their workforce through learning. Courseplay’s comprehensive Learning Management and Experience Platform leverages AI to translate content into different languages, offer a conversational chatbot to guide learners, generate quiz questions from learning content, provide a recommendation engine for personalised learning pathways and the assessment engine can go beyond grammar checks to evaluate product knowledge.
● HRMS – HfactoR: Identifies potential matches from a repository of resumes, automates the reach-out to them and scores their applications to recommend the ones matching best with the job requirements.
● Ma Foi’s Gig Platform of Specialists – Ezyconseil: Revolutionises the gig economy bridging the gap between highly skilled and experienced freelancers in fields such as business strategy, growth and transformation, operations, supply chain and project management with clients.
● Ma Foi’s HR compliance Platform – EzyComp: Enables organisations to streamline the HR compliance process, reduces the risk of non-compliance and enhances efficiency in dealing with dynamic and diverse statutory obligations.
● Fresher Upskilling Platform – ProSculpt: Transforms employability of freshers by bridging academia-industry gap; leveraging data-driven insights, curriculum recommendations, industry trends analysis & optimise placement processes, aligning academic offerings with the dynamic demands of the corporate landscape.
About CIEL HR Group:CIEL HR Group is a holistic talent solutions provider, one destination for all your HR needs. We have been a reliable partner to clients of all sectors and sizes, in their growth journey. CIEL HR Group is led by the most experienced and talented workforce spread across 92 offices at 43 locations in India. The Group includes brands like,
● CIEL HR – India’s largest recruitment and staffing company in terms of geo-spread
● Jombay – India’s largest Talent Assessment and Development platform
● HfactoR – a unified HR Tech platform to manage end-to-end employee lifecycle in organisations
● CIEL Technologies offers Managed Services to optimise IT and Engineering programmes
● CIEL Skills and Careers engages with various Government agencies as well as the CSR wings of corporates to mobilise students, train them ‘Job Ready’ and place them in meaningful jobs
● Ma Foi Strategy offers consulting services in the entire spectrum of HR including Payroll and Compliance areas.
● Courseplay – an AI-powered employee experience platform, focuses on transforming employee growth through learning
CIEL HR is India’s fastest growing HR services company (CAGR of 136% over the last 7 years), servicing ~460 companies across industry sectors for their Temporary staffing needs and 3000+ companies to find the right talent for their Permanent positions. It finds talent for companies in the industry sectors of Manufacturing, Energy, Infrastructure, IT & Outsourcing, Pharma, Financial Services, Consumer Products and Services. Over the last 9 years, CIEL has recruited 1,80,000+ people across levels and functions.
