Quess Corp. Ltd. (IN:QUESS)
:QUESS
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Quess Corp. Ltd.
(QUESS)
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Rating:74Outperform
Price Target:
₹250.00
▲(14.26% Upside)
Action:Upgraded
Date:05/06/26
The score is driven primarily by solid financial quality from strong free-cash-flow generation and a meaningfully de-risked balance sheet, offset by uneven revenue and margin trends. Technicals are supportive with positive momentum, and valuation is helped by a moderate P/E and a high dividend yield.
Positive Factors
Free cash flow conversion
Consistent positive free cash flow and strong conversion versus net income provide durable internal funding for capex, working capital and shareholder returns. Sustained FCF cushions the business through revenue cycles and enables deleveraging or selective reinvestment without external financing.
Negative Factors
Revenue volatility
Material swings in top-line make forward planning and contract pipeline visibility harder, impairing predictability of margins and free cash flow. For a staffing-led business, uneven demand and client churn can persist for months, constraining durable earnings visibility and capital allocation.
Read all positive and negative factors
Positive Factors
Negative Factors
Free cash flow conversion
Consistent positive free cash flow and strong conversion versus net income provide durable internal funding for capex, working capital and shareholder returns. Sustained FCF cushions the business through revenue cycles and enables deleveraging or selective reinvestment without external financing.
Read all positive factors
Quess Corp. Ltd. (QUESS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹30.18B
Dividend Yield4.7%
Average Volume (3M)20.68K
Price to Earnings (P/E)11.4
Beta (1Y)1.39
Revenue Growth-20.94%
EPS Growth21.86%
CountryIN
Employees522,434
SectorServices
Sector StrengthN/A
IndustryStaffing & Employment Services
Share Statistics
EPS (TTM)5.88
Shares Outstanding149,331,450
10 Day Avg. Volume29,896
30 Day Avg. Volume20,683
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)2.17
Price to Sales (P/S)0.17
P/FCF Ratio12.62
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)17.17
Revenue Forecast (FY)₹167.38B
Quess Corp. Ltd. Business Overview & Revenue Model
Company Description
Quess Corp Limited operates as a business services provider in India, South East Asia, and North America. It operates through Workforce Management, Operating Asset Management, and Global Technology Solutions segments. The Workforce Management segm...
How the Company Makes Money
Quess primarily makes money by delivering workforce and business-services contracts to enterprise customers. A major revenue stream is staffing/workforce solutions, where Quess supplies associates on client sites (general staffing and professional...
Quess Corp. Ltd. Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
73
Positive
Cash Flow
80
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 166.59B | 153.05B | 149.67B | 136.95B | 171.58B | 136.92B |
| Gross Profit | 10.62B | 2.71B | 9.16B | 8.90B | 10.15B | 26.03B |
| EBITDA | 4.05B | 3.12B | 1.07B | 7.00B | 6.69B | 6.53B |
| Net Income | 875.04M | 2.22B | 458.02M | 2.78B | 2.24B | 2.41B |
Balance Sheet | ||||||
| Total Assets | 30.53B | 30.39B | 28.12B | 62.55B | 61.19B | 53.71B |
| Cash, Cash Equivalents and Short-Term Investments | 2.73B | 2.58B | 2.67B | 6.01B | 6.13B | 5.20B |
| Total Debt | 2.07B | 1.24B | 1.13B | 8.38B | 10.11B | 10.35B |
| Total Liabilities | 19.36B | 18.71B | 17.26B | 32.90B | 33.88B | 29.57B |
| Stockholders Equity | 11.15B | 11.66B | 10.85B | 27.99B | 25.69B | 24.38B |
Cash Flow | ||||||
| Free Cash Flow | 1.56B | 2.00B | 3.79B | 4.26B | 3.62B | 4.69B |
| Operating Cash Flow | 1.58B | 2.09B | 3.80B | 5.29B | 4.66B | 5.54B |
| Investing Cash Flow | -344.54M | -770.56M | 22.00M | 494.95M | -22.82M | -1.88B |
| Financing Cash Flow | -1.29B | -2.13B | -3.18B | -4.97B | -4.43B | -4.41B |
Quess Corp. Ltd. Technical Analysis
Neutral
218.80
Price Trends
191.68
Positive
196.45
Positive
216.36
Negative
Market Momentum
3.04
Positive
49.32
Neutral
19.68
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:QUESS, the sentiment is Neutral. The current price of 218.8 is above the 20-day moving average (MA) of 206.05, above the 50-day MA of 191.68, and above the 200-day MA of 216.36, indicating a neutral trend. The MACD of 3.04 indicates Positive momentum. The RSI at 49.32 is Neutral, neither overbought nor oversold. The STOCH value of 19.68 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:QUESS.
Quess Corp. Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹30.18B | 11.41 | ― | 4.70% | -20.94% | 21.86% | |
67 Neutral | ₹50.35B | 14.40 | ― | 2.71% | 2.58% | -18.98% | |
66 Neutral | ₹55.75B | 28.84 | ― | ― | 21.17% | 1069.33% | |
58 Neutral | ₹23.70B | 13.55 | ― | ― | 6.32% | 28.41% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
55 Neutral | ₹18.62B | 12.17 | ― | 1.51% | 0.97% | -78.30% | |
53 Neutral | ₹35.16B | 40.78 | ― | 0.69% | 14.65% | 95.62% |
* Services Sector Average
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Quess Corp. Ltd. Corporate Events
Quess Corp clears FY26 results with modified audit opinion, announces special and final dividends and board changes
May 4, 2026
Quess Corp Limited’s board approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, with statutory auditor Deloitte Haskins Sells LLP issuing a modified opinion on these accounts. The...
Quess Corp lifts FY26 EBITDA 19% and declares ₹6 dividend per share
May 4, 2026
Quess Corp reported full-year FY26 revenue of ₹15,305 crore, up 2% year-on-year, and EBITDA of ₹312 crore, a 19% increase that lifted margins to 2.0% as adjusted profit after tax rose 10% to ₹230 crore and return on equity reache...
Quess Corp Releases Q4 and FY26 Investor Presentation
May 4, 2026
Quess Corp Ltd. has released its investor presentation for the fourth quarter and full year ended March 31, 2026, in line with Indian listing regulations. The presentation, now available on the company’s website, provides shareholders and ma...
Quess Corp posts FY26 results with modified audit opinion, declares special dividend and reshapes board
May 4, 2026
Quess Corp’s board approved the audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, with the statutory auditor issuing a modified opinion on these accounts. The company did not disclose details...
Quess Corp Clears FY26 Results With Modified Audit, Announces Dual Dividends and Board Changes
May 4, 2026
Quess Corp Ltd’s board has approved the audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, with statutory auditor Deloitte Haskins Sells LLP issuing reports containing a modified opinion, sig...
Quess Corp approves FY26 results, dividends and reshapes board
May 4, 2026
Quess Corp’s board has approved its audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, with statutory auditor Deloitte Haskins Sells LLP issuing reports carrying a modified opinion. The board...
Quess Corp clears FY26 results with modified audit opinion, announces dividends and board changes
May 4, 2026
Quess Corp’s board has approved audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, with the statutory auditor issuing a modified opinion, signaling some qualifications around the reported numb...
Quess Corp Names CEO and CFO to Decide Material Corporate Disclosures
May 4, 2026
Quess Corp Limited has updated the market on its internal governance framework by designating Executive Director and Group CEO Lohit Bhatia and Chief Financial Officer Neeraj Jain as the key managerial personnel authorized to determine the materia...
Quess Corp Receives Over Rs 63 Crore in Income Tax Refunds
Apr 8, 2026
Quess Corp Limited has disclosed that it received two orders from the Income Tax Department granting refunds of Rs. 39.58 crore and Rs. 24.23 crore for financial years 2021-22 and 2022-23, respectively. The orders, issued under Section 154 of the ...
Quess Corp Discloses Voluntary ESG Rating Assigned by NSE Sustainability
Apr 2, 2026
Quess Corp Limited disclosed that NSE Sustainability Ratings Analytics, a SEBI-registered ESG rating provider, has voluntarily assigned the company an ESG score of 74 based solely on publicly available information. The company clarified that it d...
Quess Corp Unveils Leadership Transition and New 2026 Stock Ownership Plan
Mar 16, 2026
Quess Corp has announced a leadership transition, appointing Lohit Bhatia as Whole-time Director, Executive Director and Group Chief Executive Officer for a three-year term effective June 1, 2026, as part of its succession planning. Incumbent Exec...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.