PAN HR Had 8,136 E-Commerce Personnel Out of 10,621 in FY26

In FY26, PAN HR deployed 8,136 of its 10,621 personnel in E-Commerce, equal to 76.6% of the workforce, while Logistics was the next-largest disclosed vertical at 1,273 personnel. The deployment mix shows that PAN HR’s operating scale was concentrated in E-Commerce even as it reported a network spanning 25 states.

How concentrated was PAN HR's FY26 workforce in E-Commerce?

PAN HR's FY26 deployment was concentrated in E-Commerce, which accounted for 8,136 personnel, or 76.6% of the 10,621 total. That leaves 2,485 personnel, or 23.4%, across all other disclosed verticals combined, based on the figures in PAN HR's workforce deployment chart.

The concentration is visible both in headcount and in the gap to the next segment. E-Commerce had 6,863 more deployed personnel than Logistics, which had 1,273, and more than six times the Logistics workforce. PAN HR describes its coverage as including E-Commerce, Quick Commerce, Logistics, Manufacturing and Infrastructure, but its FY26 deployment chart provides numerical vertical data only for E-Commerce, Logistics, Water Department, Manufacturing and Other.

How did PAN HR's other disclosed verticals compare in FY26?

PAN HR's Logistics deployment of 1,273 personnel was the largest disclosed non-E-Commerce vertical in FY26, followed by Water Department at 554, Manufacturing at 371 and Other at 287. Logistics represented 12.0% of total personnel, compared with 5.2% for Water Department, 3.5% for Manufacturing and 2.7% for Other.

The difference between the segments matters because the three specifically named non-E-Commerce categories together totalled 2,198 personnel, still below one-third of E-Commerce's 8,136. PAN HR's presentation also identifies Quick Commerce, Warehousing, Facility Management, Retail and Corporate Services, and Industrial Services among the industries it serves, but it does not provide separate FY26 personnel counts for those activities.

PAN HR's workforce model follows a nine-step process from lead generation through ongoing support and retention. The process includes requirement assessment, a customised commercial proposal, agreement execution, sourcing through online and offline advertising, job portals and employee referrals, then payroll and compliance set-up before deployment. The presentation says supervisors, centralised monitoring and technology-enabled tracking support deployment at client locations.

Where did PAN HR generate FY26 revenue geographically?

PAN HR reported a 25-state workforce deployment network in FY26, while its largest individual disclosed revenue geography was Haryana at 19.72%. Uttar Pradesh contributed 18.05% and West Bengal 17.31%, meaning these three named states together accounted for 55.08% of the geography-wise revenue breakup.

The residual Other category was the largest reported revenue grouping at 28.03%, exceeding Haryana's share by 8.31 percentage points. Rajasthan contributed 9.78% and Karnataka 7.11%; the five individually named states therefore represented 71.97% of FY26 revenue, with Other bringing the disclosed revenue shares to 100.00%.

PAN HR lists operational locations in Punjab, Haryana, Bihar, Delhi, Rajasthan, West Bengal, Uttar Pradesh, Maharashtra, Telangana, Karnataka and Andhra Pradesh. The presentation does not disclose revenue amounts by state, personnel counts by geography, or a direct mapping of E-Commerce personnel to any individual state, so the workforce mix and revenue geography cannot be linked further from the disclosed data.

Which clients and operating services does PAN HR identify?

PAN HR identifies Flipkart, Shadowfax, Myntra, JWIL Sustainable Water Management, Jindal Sanitation for Life, Walmart, Delhivery, Style Bazaar, Hero Cycles, Zomato, Zepto, Swiggy, ProConnect Integrated Logistics, TCI and TotalFoodService as key clients. The presentation does not disclose FY26 revenue, deployed personnel, contract duration or client concentration for any of these named organisations.

PAN HR says its service portfolio includes manpower services, staffing, payroll management, facility management, compliance audit and HR outsourcing. Its stated technology and compliance infrastructure includes a cloud-based human resource management system, robust payroll processing and statutory-compliance capabilities, while the business model places payroll and compliance management between deployment and recurring revenue.

The client-onboarding sequence also indicates how a client requirement can become a deployment. After a client evaluation and agreement, PAN HR says it completes documentation, payroll-system and compliance-process set-up, then mobilises personnel according to client requirements and timelines. The presentation does not quantify the length of this cycle or disclose retention rates for FY26.

What is PAN HR planning after FY26?

PAN HR's stated roadmap is to diversify beyond its FY26 E-Commerce-heavy deployment mix by increasing presence in Quick Commerce, fast-moving consumer goods warehousing, healthcare support services and green logistics. Management also says it plans geographic expansion beyond the Delhi National Capital Region into Tier-II cities and key South and West Indian markets, alongside higher-margin payroll outsourcing, compliance audit and HR consulting services.

PAN HR also intends to transition to a pay-and-collect model for larger clients using its initial public offering working-capital allocation. Of the Rs 9.75 crore allocation, Rs 2.85 crore had been utilised by September 30, 2026, according to the presentation. The stated balance is intended to fund payroll for larger clients, but the presentation gives no target date or numerical target for future workforce volumes.

At September 30, 2026, PAN HR reported shareholders' funds of Rs 43.72 crore and said higher receivables resulted in a net operating cash outflow of Rs 10.48 crore in the first half of FY27. Management's plan also includes automation, payroll systems, compliance infrastructure and operational controls, as well as use of the National Apprenticeship Promotion Scheme to develop a workforce supply pipeline.

Conclusion

PAN HR's FY26 workforce data shows a clear operational concentration: E-Commerce supplied 8,136 of 10,621 deployed personnel, while Logistics, Water Department, Manufacturing and Other collectively supplied 2,485. Its revenue disclosure has a different lens, showing a 25-state network in which Haryana, Uttar Pradesh and West Bengal represented 55.08% of geography-wise revenue and Other represented 28.03%.

The next disclosed developments to watch are PAN HR's use of the remaining initial public offering working-capital allocation after Rs 2.85 crore had been used by September 30, 2026, and progress on its stated pay-and-collect, geographic-expansion and sector-diversification plans. The presentation does not set a workforce target or date for reducing the FY26 E-Commerce concentration, leaving later deployment disclosures important for assessing change.