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Quess Corp Ltd

QUESS
NSE
178.90
1.47%
Last Updated:
02 Apr '26, 3:59 PM
Company Overview
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Quess Corp Ltd

QUESS
NSE
178.90
1.47%
02 Apr '26, 3:59 PM
Company Overview
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6M
Price
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Quick Ratios

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Mkt Cap
Market Capitalization
2,672Cr
Close
Close Price
178.90
Industry
Industry
Facility Management
PE
Price To Earnings
23.66
PS
Price To Sales
0.18
Revenue
Revenue
15,069Cr
Rev Gr TTM
Revenue Growth TTM
1.49%
PAT Gr TTM
PAT Growth TTM
-73.91%

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
4,4404,6004,7484,8423,5373,5873,7054,0193,6563,6513,8323,930
Growth YoY
Revenue Growth YoY%
17.115.611.18.4-20.3-22.0-22.0-17.03.41.83.4-2.2
Expenses
ExpensesCr
4,2884,4464,5854,6563,4773,5243,6363,9573,5893,5823,7553,850
Operating Profit
Operating ProfitCr
1521541641866063696267707780
OPM
OPM%
3.43.43.43.81.71.81.91.61.81.92.02.0
Other Income
Other IncomeCr
4413-15-261-1-14734-5
Interest Expense
Interest ExpenseCr
312728408111099101313
Depreciation
DepreciationCr
766970721511101010101011
PBT
PBTCr
4862795934485042-99525751
Tax
TaxCr
18149-5-5-100-316-4
PAT
PATCr
3048716498495142-95515255
Growth YoY
PAT Growth YoY%
-60.9-28.978.6-25.5226.21.9-28.5-34.4-197.64.02.332.0
NPM
NPM%
0.71.11.51.32.81.41.41.0-2.61.41.41.4
EPS
EPS
1.11.52.32.03.01.61.61.3-3.03.43.53.7

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
2,5673,4354,1576,1678,52710,99110,83713,69217,15819,10014,96715,069
Growth
Revenue Growth%
33.821.048.438.328.9-1.426.325.311.3-21.60.7
Expenses
ExpensesCr
2,4383,2843,9355,8138,06210,33410,37913,06816,57318,40714,70514,776
Operating Profit
Operating ProfitCr
129151223354465658458623586694262293
OPM
OPM%
5.04.45.45.85.56.04.24.53.43.61.81.9
Other Income
Other IncomeCr
79155762-6276625802-141-145
Interest Expense
Interest ExpenseCr
22314775114167111791071173945
Depreciation
DepreciationCr
101426751232492292122752834141
PBT
PBTCr
105115165261289-3841853582842954262
Tax
TaxCr
363452-4833471111076115-4-1
PAT
PATCr
6981113310257-432742512232804662
Growth
PAT Growth%
17.839.7173.1-17.2-268.3117.1240.6-11.225.8-83.636.0
NPM
NPM%
2.72.42.75.03.0-3.90.71.81.31.50.30.4
EPS
EPS
7.57.24.610.38.3-14.21.87.77.18.81.47.6

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
26113127145146148148148148149149149
Reserves
ReservesCr
2252437092,3152,5802,1282,1952,2902,4212,650936966
Current Liabilities
Current LiabilitiesCr
4588151,0141,8811,7532,2841,6522,3192,7662,6271,4111,592
Non Current Liabilities
Non Current LiabilitiesCr
979430556530681631483622664315345
Total Liabilities
Total LiabilitiesCr
7181,2502,2804,8995,0125,3194,7205,3716,1196,2552,8123,053
Current Assets
Current AssetsCr
5318451,3512,6892,4052,8912,5893,1203,5103,5801,8962,055
Non Current Assets
Non Current AssetsCr
1874059302,2102,6072,4272,1312,2512,6092,675916998
Total Assets
Total AssetsCr
7181,2502,2804,8995,0125,3194,7205,3716,1196,2552,8123,053

Cash Flow

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
15-5074109202361715554466529380
Investing Cash Flow
Investing Cash FlowCr
-68-10-576-797180-174-106-188-2502
Financing Cash Flow
Financing Cash FlowCr
6686701948-44513-834-441-443-497-318
Net Cash Flow
Net Cash FlowCr
1327199259-63201-225-76218265
Free Cash Flow
Free Cash FlowCr
0-723624106304654471368431379
CFO To PAT
CFO To PAT%
21.5-61.064.935.178.6-83.6970.8220.7209.2188.8829.1
CFO To EBITDA
CFO To EBITDA%
11.5-32.833.030.743.454.9156.288.879.676.3145.0

Ratios

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
008,72614,96710,9343,12110,3259,7405,4827,7439,704
Price To Earnings
Price To Earnings
0.00.071.648.142.60.0178.340.424.427.9211.6
Price To Sales
Price To Sales
0.00.02.02.41.30.30.90.70.30.40.7
Price To Book
Price To Book
0.00.06.76.14.01.44.44.02.12.88.9
EV To EBITDA
EV To EBITDA
1.11.840.442.623.95.623.016.310.111.636.4
Profitability Ratios
Profitability Ratios
GPM
GPM%
98.098.698.997.796.997.698.298.097.297.5100.0
OPM
OPM%
5.04.45.45.85.56.04.24.53.43.61.8
NPM
NPM%
2.72.42.75.03.0-3.90.71.81.31.50.3
ROCE
ROCE%
26.919.813.59.811.6-6.09.413.010.911.36.7
ROE
ROE%
27.522.813.612.69.4-19.03.110.38.710.04.2
ROA
ROA%
9.66.55.06.35.1-8.11.64.73.64.51.6
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** Quess Corp Ltd, headquartered in Bengaluru and founded in 2007, is India’s largest workforce management and staffing solutions provider. As of November 2025, the company has transformed into a focused, technology-driven **pure-play Workforce Management (WFM)** firm following a strategic three-way demerger in FY2024–25. The demerger resulted in three independent listed entities—**Quess Corp Ltd**, **Digitide Solutions Ltd** (Global Technology Solutions), and **Bluspring Enterprises Ltd** (Operating Asset Management, including foundit)—enabling each business to pursue tailored growth strategies, improve capital allocation, and enhance shareholder value. Quess operates across eight countries—India, Singapore, Malaysia, Philippines, UAE, Sri Lanka, Vietnam, and the USA—with over **30 offices in India** and **483,000 active associates**, serving ~1,700 clients globally. The company ranks among the **top 5 global staffing firms by headcount** and is positioning itself to become the world’s largest staffing company by workforce size by 2030. --- ### **Business Segments & Strategy** Quess Corp is structured into four vertically aligned, independently led business segments, each with P&L accountability: #### **1. General Staffing (Core Segment)** - **Headcount**: Over **447,000 associates** as of Aug 2025, representing ~97% of Quess’s workforce. - **Revenue (Sep 2025)**: ₹129,946 million (11% YoY growth). - **Clients**: Serves BFSI, retail, manufacturing, telecom, logistics, and construction industries. - **Geographic Reach**: Operates from **over 6,300 towns and cities**, with 70% of associates deployed in Tier 2 and Tier 3 locations. - **Innovation & Efficiency**: - **Paperless Onboarding**: Completed in **under 4 minutes** using Aadhaar-based eKYC. - Proprietary digital tools: **Staffing Plus**, **QPay** (cloud-based payroll), and **Apprenticeship models** under NAPS and NATS to reduce attrition. - **JobSpot by Quess**: Tech-enabled hiring initiative for manufacturing with **walk-in centers near industrial hubs (e.g., Hosur, Chakan)**, enabling same-day hiring and on-the-spot assessments. - **Growth Drivers**: Structural tailwinds such as formalization of the economy, digital compliance, and GCC expansions. #### **2. Professional Staffing** - **Headcount**: ~6,000 associates. - **Revenue (Sep 2025)**: ₹8,254 million (11% YoY growth). - **EBITDA**: ₹772 million (**42% YoY growth**), its strongest performance to date. - **Service Areas**: IT, Engineering, BFSI, and Life Sciences through: - **Recruitment Process Outsourcing (RPO)** - **Managed Talent Solutions** - **Quess IT Staffing**: Focus on high-demand domains like **AI/ML, data science, cybersecurity**, and enterprise platforms. - **Key Client Segment**: **Global Capability Centers (GCCs)** contributed **70% of segment revenue** in Sep 2025. - **Expansion**: Aggressively scaling **GCC hiring**, AI-powered sourcing, and expanding into **Tier 2 cities**. #### **3. Overseas Staffing** - **Geographic Presence**: Singapore, Malaysia, Philippines, UAE, Sri Lanka, Vietnam. - **Employees**: ~5,600 associates. - **Revenue (Sep 2025)**: ₹11,422 million. - **EBITDA (Aug 2025)**: ₹634 million. - **Middle East Performance**: Achieved a **record 12.8% EBITDA margin (Nov 2025)** and employs over **2,100+ staff**. - **Integrated Mobility Offering**: Bundles **visa processing, payroll, accommodation, and compliance** into a single-service solution for global workforce deployment. - **Clients from Infrastructure, Healthcare, Logistics, and IT sectors**. - **Strategic Goals**: - Strengthen blue- and white-collar pipelines in **UAE, Singapore, Malaysia, and the Philippines**. - Build end-to-end capabilities in **mobilization, payroll, and visa processing**. #### **4. Digital Platforms (Technology Core)** Quess is investing heavily in digital platforms to create a **technology-powered hire-to-retire ecosystem**. This segment is transitioning from investment phase to **growth acceleration in FY2025–26**. - **Hamara Suite**: - **Hamara Jobs**: India’s largest blue-collar job platform. As of **Nov 2025**, it boasts **12.6 million registered profiles** (up from 6.9 million in Sep 2025) with local language support, serving informal and semi-formal labor markets. - **Hamara Jobs + ONDC Integration (Jul 2025)**: Enhanced discoverability of verified jobs and job seekers on the Open Network for Digital Commerce (ONDC), targeting MSMEs and gig workers. - **Hamara HR**: Mobile-first HRMS with **505,000+ registered associates** and **250,000+ daily active users**, offering payslip access, attendance tracking, benefits, and grievance redressal via a digital helpdesk. - **Hamara Academy & Hamara Benefits**: Offer upskilling and curated benefits, respectively, as part of a monetization strategy. - **Taskmo (Gig Platform)**: - A **tech-enabled gig worker discovery platform** focused on hyperlocal workforce deployment. - Secured its **first large-scale contract (INR 5 crores, Nov 2025)** to deploy **1,500 taskers** nationwide, signaling commercial traction. - Connects enterprises, startups, and personal brands with gig workers in delivery, retail, and field sales. - **Other Platforms**: - **Qdigi** (B2B installation & repair services), **WorQ** (workforce management), **Dash** (employee benefits), and **foundit** (white-collar job portal, now a separate entity under Bluspring). --- ### **Global Capability Centers (GCCs) – A High-Growth Vertical** - India hosts **over 1,600 GCCs**, contributing to 17% YoY growth in the tech workforce and creating ~180,000 new jobs in 2024. - Quess supports **over 350 GCCs across eight countries** and launched **Origint**, a **GCC-as-a-Service** offering. - **Origint** provides: - End-to-end setup (site selection, infrastructure, real estate). - AI-powered talent sourcing. - Managed operations. - **Reduced go-live time by 40–50%** and operates on OPEX basis. - **Live Clients**: One healthcare wearable company; two in pipeline. Partners: **Bluspring (infrastructure) and Digitide (digital transformation)**. - Recognized as a **strategic growth engine** with high-margin potential. --- ### **Technology & Innovation** Quess leverages AI and automation to enhance productivity and compliance: - **AI-driven tools**: - Voice-based AI screening agents. - AI-powered ATS and referral intelligence. - **50% faster hiring and 25% productivity gains** in pilot projects. - **Digital First-Hire-to-Retire Platform**: Fully digitized lifecycle management covering sourcing, onboarding, payroll, compliance, training, and benefits. - **QPay**: One of India’s **largest contributors to EPFO and SI** through automated, scalable payroll processing (>400,000 payouts monthly). --- ### **Diversification & Growth Strategy (2026 Priorities)** - **Geographic Expansion**: Target **North America, Europe, Japan, and Africa**. - **Workforce Scaling**: Expand **GCC hiring**, **AI/ML staffing**, and **high-margin professional roles**. - **Penetration in Tier 2/3 Cities**: Increase presence in high-growth Indian cities and industrial corridors via JobSpot and local hiring. - **M&A Strategy**: Leverage strong **net cash position** to pursue strategic acquisitions in the **US, Europe, and Japan**. - **Digital Monetization**: Scale digital platforms (Hamara, Taskmo) and transition from discovery to **outcomes-focused models** with embedded services. --- ### **Market Leadership & Recognition** - **#1 Staffing Firm in India (SIA, 2025)** - **Rank #19** among India’s Top 25 Workplaces (2025) - First Indian staffing firm to join the **World Employment Confederation** (2025) - Ranked **#32nd globally** by Great Place to Work (GPTW) India - Recognized for **sustainable employment creation**: 2.5 million+ jobs created since 2016. --- ### **Key Financial & Operational Highlights (Oct–Nov 2025)** - **Active Associates**: 483,000 - **Onboarding**: 50,000+ new associates monthly - **Clients**: ~1,700 active clients (35% served for >5 years) - **Geographic Diversification**: - **>50% revenue & profits** from international markets - Strong presence in **Middle East**, APAC, and North America - **India Talent Sourcing**: From **700+ districts**, including rural and non-metro regions - **Local Hiring in Singapore**: **43%**, up from 17% YoY