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Quess Corp Ltd

₹ 2211.07%
07 Jan – close price
🔗quesscorp.com•BSE: 539978•NSE: QUESS
Market Cap₹ 3,296 Cr.
Current Price₹ 221
High / Low₹ 379
Stock P/E15.9
Book Value₹ 61.3
Dividend Yield4.52 %
ROCE13.5 %
ROE15.2 %
Face Value₹ 10.0
Sales₹ 13,996 Cr.
OPM1.53 %
Mar Cap₹ 3,296 Cr.

ABOUT

Quess Corp Limited (Quess) is India’s leading business services provider, leveraging its extensive domain knowledge and future-readydigital platforms to drive client productivity through outsourced solutions.[1]

KEY POINTS

Business Segments1) Workforce Management (72% in H1 FY25 vs 67% in FY22):[1][2]The company offers General Staffing, IT Staffing, RPO, MSP, and Permanent Recruitment services. It operates 73 offices in India and 23 across APAC, ME, North America, and Canada.[3]It is theleading staffing player in India and amongst the top 5 Staffing companies globally by headcount, serving 3,000+ clients.[4]

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsAsset Base ExpansionCapacity Expansion And ProductsJv Partnerships AcquisitionsRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.International Ge314.7526.5713574.760.79129.7918.42303.7421.4368.011174.4359.40510.83129.7910.9940.560.11
2.NESCO1244.4021.148745.520.52118.9111.26239.1824.5121.12831.0757.58413.61118.913.1313.760.04
3.Wework India620.7047.098307.960.007.39-96.38573.0322.26137.071941.8163.70176.417.39–3.5722.73
4.CMS Info Systems349.6016.085751.641.8573.35-19.32608.62-2.5523.672436.5925.32357.6873.352.4612.440.10
5.Smartworks Cowor486.35–5522.360.00-3.1480.16424.7821.246.971374.0662.39-64.72-3.1410.91-1.478.60
6.NDR INVIT Trust128.0035.005068.961.4336.6039.07103.6138.004.74379.0387.31144.8237.051.332.650.38
7.Nirlon499.4014.164500.605.21147.66161.39165.313.1830.18647.6778.91317.91147.669.7010.002.47
8.Quess Corp221.0415.883296.314.5227.10-56.063540.643.7813.4813996.001.53207.5748.253.607.010.12
–Median: 60 Co.141.2823.04406.440.06.5136.264.0525.1612.85272.7314.8413.636.482.745.880.28

Quarterly Results

Standalone figures in ₹ crores

Dec 2022Dec 2023Dec 2024Jun 2023Jun 2024Jun 2025Mar 2023Mar 2024Mar 2025Sep 2022Sep 2023Sep 2024Sep 2025
Sales
3,5403,9593,7253,7193,2863,3663,5473,1403,3653,0313,8513,4123,541
Expenses
3,4353,8343,6763,6013,2423,3113,4433,0963,3132,9903,7383,3513,481
Operating Profit
1051264911844551054452401136160
Other Income
543181822171583-11933066-7
Profit before tax
89833868455344101-86177310831
Tax %
9%-22%-7%11%-12%-0%40%-3%-5%-23%-6%-2%12%
Net Profit
811014160515326104-81217710927
EPS in Rs
5.466.832.774.073.413.541.777.00-5.461.395.197.371.82

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Dec 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
6162,3732,9183,4434,4115,6957,7407,4839,75813,63812,05013,78713,996
Expenses
6052,2402,7753,2544,1675,3647,3977,2869,51913,20211,87713,58213,781
Operating Profit
11133144188244331343198239436173206215
Other Income
1510164234-488-1113771244-24-101
Interest
5222739476597644889563739
Depreciation
11715223545665348178393938
Profit before tax
6100111144204254-307-3018123932210636
Net Profit
4637995259234-337-10014520834312040
EPS in Rs
2.1324.286.937.4817.8216.02-22.84-6.769.7914.0323.098.072.67
Dividend Payout %
0%0%0%0%0%0%0%-104%41%57%43%124%–

Compounded Profit Growth

10 Years:16%
5 Years:10%
3 Years:8%
TTM:-42%

Compounded Sales Growth

10 Years:19%
5 Years:12%
3 Years:12%
TTM:1%

Return on Equity

10 Years:11%
5 Years:10%
3 Years:13%
Last Year:15%

Stock Price CAGR

10 Years:%
5 Years:-3%
3 Years:4%
1 Year:-31%

Balance Sheet

Standalone figures in ₹ crores

Dec 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
1926113127145146148148148148149149149
Reserves
642352201,1312,2162,4752,1712,0772,0612,2482,540781765
Borrowings
108168263535728570925375527835682112108
Other Liabilities
972003654035035796366631,2031,7781,9661,4521,651
Total Liabilities
2876299612,1963,5923,7703,8793,2633,9385,0095,3372,4942,673
Fixed Assets
2107103754782763459412440924891112115
Gross Block
5.87147.72117.97802.40865.41892.87894.40977.59966.361,641.471,613.08204.40–
Accumulated Depreciation
3.4240.7715.0048.3583.06130.24435.51565.24526.40717.60722.1592.53–
CWIP
0019250711200
Investments
1065171907997251,2041,1141,2891,0101,024243243
Other Assets
1795188401,2432,0092,2772,2161,7292,2083,0743,4202,1392,315
Total Assets
2876299612,1963,5923,7703,8793,2633,9385,0095,3372,4942,673

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Dec 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
53-135083113140255200345405327
Cash from Investing Activity
-58-68-38-515-89236-31972-14419150-122
Cash from Financing Activity
668370607995-221230-615-64-382-450-316
Net Cash Flow
121819142185-7151-288-9-18105-111

Ratios

Standalone Figures in ₹ Crores / Yearly

Dec 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
273341324534225556526635
Inventory Days
––––––––––––
Days Payable
––––––––––––
Cash Conversion Cycle
273341324534225556526635
Working Capital Days
-1053-7617-9173174
ROCE %
–39%27%15%10%10%10%6%12%11%8%13%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
51.90%56.75%56.69%56.66%56.65%56.64%56.64%56.60%56.56%56.99%56.98%56.92%
FIIs
21.78%17.92%17.04%16.93%16.30%15.30%15.93%15.81%15.24%14.82%14.58%14.11%
DIIs
8.04%6.56%7.33%10.18%10.66%10.78%10.95%10.96%10.45%9.77%8.74%9.77%
Public
18.29%18.77%18.94%16.22%16.40%17.30%16.48%16.62%17.73%18.41%19.70%19.18%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Quess Corp receives ESG rating of '74' from NSE Sustainability based on public data

3rd April 2026, 1:55 am

Quess Corp to appeal GST order imposing ₹39.36 lakh penalty, citing no material impact

31st March 2026, 8:25 pm

Quess Corp Announces Trading Window Closure for Financial Results

25th March 2026, 10:07 pm

Quess Corp Allots 1.14 Lakh Shares Under ESOP, Paid-up Capital Rises

24th March 2026, 9:52 pm

Quess Corp Appoints Lohit Bhatia as ED & Group CEO; Introduces New Stock Ownership Plan

17th March 2026, 1:29 am

Published by Other Websites

External media mentions & references

Profitable Small Caps Tank 25%, Offer 6% Dividend Amid Market Fear

28th March 2026, 6:37 am

Indian Stocks Eye Higher Open on Global Rally; RIL Deal, Auto Hike in Focus

17th March 2026, 7:46 am

RIL $3B Deal, Tata Motors Price Hike, Sun Pharma FDA Nod: Stocks in Focus

17th March 2026, 7:35 am

Quess Corp Appoints New CEO From 2026, Stock Dips

16th March 2026, 9:09 pm

Dividend Surge Signals Mature Cash Flows

5th February 2026, 8:19 am

News Articles

Editorial & research coverage

Dividend Surge Signals Mature Cash Flows
Dividend Surge Signals Mature Cash Flows

5th February 2026, 8:19 am

Quess Corp: Profit Soars on Value Shift Amid Revenue Dip
Quess Corp: Profit Soars on Value Shift Amid Revenue Dip

2nd February 2026, 8:02 pm

Quess Corp: Q3 Results In Line, Neutral View Maintained
Quess Corp: Q3 Results In Line, Neutral View Maintained

2nd February 2026, 4:38 pm

AI Takeover 2026: Indian IT Giants Set for Massive Revenue Boom & Budget Surge!
AI Takeover 2026: Indian IT Giants Set for Massive Revenue Boom & Budget Surge!

28th December 2025, 4:24 pm

2026: India Inc's Big Shift! Gig Work Booms, AI Disrupts, & Talent Hunts Beyond Metros!
2026: India Inc's Big Shift! Gig Work Booms, AI Disrupts, & Talent Hunts Beyond Metros!

26th December 2025, 5:56 am

Documents

Announcements

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Change In Senior Management Personnel

1d - Mohit Mathur resigns as Chief Business Officer - Origint effective close of business January 05, 2026.

Closure of Trading Window
Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015

24 Dec - DRP order (23 Dec 2025) directs DCIT to quantify tax liability for FY2021-22; company may appeal.

Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS

18 Dec - Allotment of equity shares under the Quess Stock Ownership Plan 2020

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Financial Year 2016

(from bse)

Credit Ratings

Rating update

29 Jul 2025 from icra

Rating update

28 Feb 2025 from icra

Rating update

27 Feb 2024 from icra

Rating update

28 Aug 2023 from icra

Rating update

22 Dec 2022 from icra

Rating update

30 Aug 2022 from icra

Concalls

Nov 2025

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Stock Analysis

Description

  1. Quess Corp Limited (Quess) is India’s leading business services provider, leveraging its extensive domain knowledge and future-ready digital platforms to drive client productivity through outsourced solutions.

Key Growth Triggers

  1. Professional Staffing segment delivered its best performance in over 15 years, with revenue up 31% YoY and EBITDA up 48% YoY, achieving double-digit margins.
  2. Management anticipated general staffing recovery driven by festive demand.
  3. The company launched 'Origint' to expand its GCC offerings and integrated its 'Hamara Jobs' platform with ONDC.
  4. Plans include global expansion, AI adoption, and returning up to 75% of free cash flows to shareholders.
  5. Strong performance in IT staffing within the GCC segment is expected, driven by upcoming GST reforms and demand across manufacturing, retail, and logistics sectors.
  6. Incorporation of a new Singapore subsidiary ('Quess Engineering Pte. Ltd.') aims to expand overseas staffing business in the engineering services vertical.
  7. Strategic leadership appointments, including a new CEO, are aimed at steering future growth trajectory.

Order Book

Currently no data available for Order Book.

Key Red Flags

  1. Auditors issued a qualified conclusion due to material uncertainties in ongoing income tax disputes (Section 80JJAA deductions, goodwill depreciation) and provident fund matters.
  2. The company has been fined ₹8,000 by stock exchanges for a temporary procedural lapse in its Nomination and Remuneration Committee composition.
  3. The resignation of the Chief Financial Officer, Sushanth Pai, due to family commitments.
  4. Ongoing tax litigation challenges impacting financial disclosures, with the company intending to contest DRP directions.

Key Dates To Watch

  1. Annual General Meeting (AGM) on August 29, 2025.
  2. Record date for dividend entitlement on August 8, 2025.
  3. Trading window closure effective October 1, 2025.
  4. Board Meeting to approve Q2 FY26 financial results on October 29, 2025.
  5. Analyst call for Q2 FY26 results on October 30, 2025.
  6. Trading window closure effective January 1, 2026.

Corporate Announcements

2nd Apr 26
Impact Rating: 7
Quess Corp announced an ESG rating of '74' by NSE Sustainability. The company clarified that it did not engage the rating provider, and the rating is derived solely from publicly available data.
31st Mar 26
Impact Rating: 7
Quess Corp is appealing a GST order that imposed a ₹39.36 lakh (₹0.39 cr) penalty for alleged short tax payments and excess Input Tax Credit claims. The company has stated that this order will not materially impact its financials or operations and is proceeding with an appeal.
25th Mar 26
Impact Rating: 6
Quess Corp Limited will close its trading window starting April 1, 2026, until 48 hours post-announcement of its Q4 and full fiscal year financial results ending March 31, 2026, as per SEBI norms.
24th Mar 26
Impact Rating: 7
Quess Corp has approved the allotment of 1,13,847 equity shares under the QSOP 2020 plan. This action increases the company's paid-up share capital from ₹149.22 crore to ₹149.33 crore.
16th Mar 26
Impact Rating: 8
Quess Corp appoints Lohit Bhatia as Executive Director & Group CEO from June 1, 2026, while Guruprasad Srinivasan resigns May 31. The company also approved the Quess Stock Ownership Plan 2026 (QSOP 2026) for employee incentives.