● 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, 2 nd 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.
