QUESS
Quess Corp Limited
Staffing and workforce solutions provider across BFSI, retail, telecom, manufacturing and IT
Services›Services›Commercial Services & Supplies›Diversified Commercial Services
Key metrics
Price as of 2026-10-16
Stock price
₹332.95
Market cap
4,958 Cr
Stock P/E
19.6
P/B
4.26
Dividend yield
2.5%
ROE (FY26)
19.0%
ROCE (FY26)
23.9%
Operating margin (FY26)
1.8%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
Quess Corp provides staffing and workforce services to companies in India and overseas, placing and managing associates for clients across manufacturing, consumer, retail, telecom and technology work.
Company snapshot
11thBy market cap
Ranked among 36 companies in Diversified Commercial Services.
Segment mix
Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.
Largest segment: 73.3% of revenue
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| a) Workforce management | 73.3% | 4,047 Cr | 92 Cr | 1,929 Cr |
| b) Operating asset management | 14.5% | 800 Cr | 38 Cr | 1,481 Cr |
| c) Global technology solutions | 11.7% | 646 Cr | 111 Cr | 1,449 Cr |
| d) Product led business | 0.5% | 26 Cr | -9 Cr | 153 Cr |
What we see
Positives
- ✓Return on equity of 19.0% — the company generates strong returns on shareholders' money.
Concerns
- ✗Net margin is very thin at 1.5% — little room for error if costs rise.
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,748 Cr | 4,842 Cr | 4,910 Cr | 5,003 Cr | 5,179 Cr | 5,519 Cr | 3,656 Cr | 3,651 Cr | 3,832 Cr | 3,930 Cr | 3,892 Cr | 4,182 Cr |
| Operating expenses (approx.) | 4,585 Cr | 4,661 Cr | 4,715 Cr | 4,819 Cr | 4,984 Cr | 5,322 Cr | 3,589 Cr | 3,582 Cr | 3,755 Cr | 3,850 Cr | 3,806 Cr | 4,097 Cr |
| EBITDA | 164 Cr | 181 Cr | 195 Cr | 184 Cr | 196 Cr | 197 Cr | 67 Cr | 70 Cr | 77 Cr | 80 Cr | 86 Cr | 85 Cr |
| OPM % | 3.4% | 3.7% | 4.0% | 3.7% | 3.8% | 3.6% | 1.8% | 1.9% | 2.0% | 2.0% | 2.2% | 2.0% |
| Other income | 15 Cr | 5 Cr | 5 Cr | 10 Cr | 4 Cr | 9 Cr | 11 Cr | 5 Cr | 4 Cr | 2 Cr | 6 Cr | 26 Cr |
| Interest | 28 Cr | 35 Cr | 27 Cr | 24 Cr | 28 Cr | 27 Cr | 9 Cr | 10 Cr | 13 Cr | 13 Cr | 14 Cr | 14 Cr |
| Depreciation | 70 Cr | 72 Cr | 73 Cr | 69 Cr | 70 Cr | 69 Cr | 10 Cr | 10 Cr | 10 Cr | 11 Cr | 11 Cr | 10 Cr |
| Profit before tax | 79 Cr | 59 Cr | 95 Cr | 119 Cr | 102 Cr | 89 Cr | -99 Cr | 52 Cr | 57 Cr | 51 Cr | 69 Cr | 86 Cr |
| Tax % | 10.5% | -7.6% | -3.2% | 5.8% | 8.3% | 3.9% | 3.5% | 2.4% | 9.9% | -7.8% | 6.8% | 4.4% |
| Net profit | 71 Cr | 64 Cr | 98 Cr | 112 Cr | 94 Cr | 85 Cr | -95 Cr | 51 Cr | 52 Cr | 55 Cr | 64 Cr | 82 Cr |
| EPS (₹) | ₹4.85 | ₹4.30 | ₹6.36 | ₹6.99 | ₹6.15 | ₹5.42 | ₹-6.42 | ₹3.42 | ₹3.46 | ₹3.69 | ₹4.30 | ₹5.50 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,315 Cr | 6,167 Cr | 8,527 Cr | 10,991 Cr | 10,837 Cr | 13,692 Cr | 17,158 Cr | 19,100 Cr | 14,967 Cr | 15,305 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 4,077 Cr | 5,813 Cr | 8,062 Cr | 10,334 Cr | 10,379 Cr | 13,068 Cr | 16,573 Cr | 18,407 Cr | 14,705 Cr | 14,993 Cr | Sign in free for the trailing twelve months |
| EBITDA | 238 Cr | 354 Cr | 465 Cr | 658 Cr | 458 Cr | 623 Cr | 586 Cr | 694 Cr | 262 Cr | 312 Cr | Sign in free for the trailing twelve months |
| OPM % | 5.5% | 5.7% | 5.4% | 6.0% | 4.2% | 4.6% | 3.4% | 3.6% | 1.8% | 2.0% | Sign in free for the trailing twelve months |
| Other income | 15 Cr | 57 Cr | 71 Cr | 51 Cr | 45 Cr | 20 Cr | 26 Cr | 29 Cr | 24 Cr | 16 Cr | Sign in free for the trailing twelve months |
| Interest | 48 Cr | 75 Cr | 114 Cr | 167 Cr | 111 Cr | 79 Cr | 107 Cr | 117 Cr | 39 Cr | 49 Cr | Sign in free for the trailing twelve months |
| Depreciation | 33 Cr | 75 Cr | 123 Cr | 249 Cr | 229 Cr | 212 Cr | 275 Cr | 283 Cr | 41 Cr | 42 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 172 Cr | 261 Cr | 289 Cr | -384 Cr | 185 Cr | 358 Cr | 284 Cr | 295 Cr | 42 Cr | 230 Cr | Sign in free for the trailing twelve months |
| Tax % | 29.3% | -18.5% | 11.4% | -12.4% | 60.1% | 29.8% | 21.6% | 5.0% | -9.8% | 3.3% | Sign in free for the trailing twelve months |
| Net profit | 122 Cr | 310 Cr | 257 Cr | -432 Cr | 74 Cr | 251 Cr | 223 Cr | 280 Cr | 46 Cr | 222 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹9.74 | ₹22.05 | ₹17.61 | ₹-30.28 | ₹3.92 | ₹16.32 | ₹15.16 | ₹18.72 | ₹3.08 | ₹14.87 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 127 Cr | 145 Cr | 146 Cr | 148 Cr | 148 Cr | 148 Cr | 148 Cr | 149 Cr | 149 Cr | 149 Cr |
| Reserves | 1,178 Cr | 2,315 Cr | 2,580 Cr | 2,128 Cr | 2,195 Cr | 2,290 Cr | 2,421 Cr | 2,650 Cr | 936 Cr | 1,017 Cr |
| Borrowings | 744 Cr | 966 Cr | 750 Cr | 998 Cr | 451 Cr | 588 Cr | 531 Cr | 370 Cr | 12 Cr | — |
| Other liabilities | 814 Cr | 1,470 Cr | 1,533 Cr | 1,968 Cr | 1,832 Cr | 2,214 Cr | 2,857 Cr | 2,921 Cr | 1,714 Cr | 1,871 Cr |
| Total liabilities | 2,864 Cr | 4,899 Cr | 5,012 Cr | 5,319 Cr | 4,720 Cr | 5,371 Cr | 6,119 Cr | 6,255 Cr | 2,812 Cr | 3,039 Cr |
| Fixed assets (net) | 56 Cr | 232 Cr | 235 Cr | 513 Cr | 416 Cr | 207 Cr | 646 Cr | 618 Cr | 101 Cr | 124 Cr |
| CWIP | — | 0.19 Cr | 0.34 Cr | 0.77 Cr | 15 Cr | 0 Cr | 0.10 Cr | 3 Cr | 0 Cr | 0 Cr |
| Investments | 78 Cr | 200 Cr | 128 Cr | 106 Cr | 54 Cr | 394 Cr | 50 Cr | 93 Cr | 0 Cr | 51 Cr |
| Loans & advances | — | — | 38 Cr | 54 Cr | 23 Cr | 3 Cr | 4 Cr | 0.86 Cr | 1 Cr | 0.95 Cr |
| Inventories | 7 Cr | 8 Cr | 22 Cr | 28 Cr | 29 Cr | 27 Cr | 28 Cr | 7 Cr | 0 Cr | 0 Cr |
| Trade receivables | 509 Cr | 921 Cr | 913 Cr | 998 Cr | 894 Cr | 2,332 Cr | 1,485 Cr | 1,539 Cr | 1,529 Cr | 808 Cr |
| Cash & bank | 304 Cr | 566 Cr | 505 Cr | 709 Cr | 486 Cr | 410 Cr | 438 Cr | 520 Cr | 249 Cr | 178 Cr |
| Other assets | 1,909 Cr | 2,970 Cr | 3,169 Cr | 2,909 Cr | 2,803 Cr | 1,997 Cr | 3,469 Cr | 3,474 Cr | 931 Cr | 1,877 Cr |
| Total assets | 2,864 Cr | 4,899 Cr | 5,012 Cr | 5,319 Cr | 4,720 Cr | 5,371 Cr | 6,119 Cr | 6,255 Cr | 2,812 Cr | 3,039 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 68 Cr | 109 Cr | 202 Cr | 361 Cr | 715 Cr | 554 Cr | 466 Cr | 529 Cr | 380 Cr | 230 Cr |
| Cash from investing | -574 Cr | -810 Cr | 180 Cr | -174 Cr | -106 Cr | -188 Cr | -2 Cr | 49 Cr | 2 Cr | -73 Cr |
| Cash from financing | 707 Cr | 961 Cr | -445 Cr | 13 Cr | -834 Cr | -442 Cr | -443 Cr | -497 Cr | -318 Cr | -237 Cr |
| Net cash flow | 201 Cr | 259 Cr | -63 Cr | 201 Cr | -223 Cr | -75 Cr | 27 Cr | 83 Cr | 65 Cr | -71 Cr |
| Free cash flow (OCF − Capex) | 30 Cr | 16 Cr | 106 Cr | 304 Cr | 654 Cr | 554 Cr | 466 Cr | 529 Cr | 380 Cr | 230 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 10.7% | 9.8% | 11.6% | -6.5% | 10.2% | 13.8% | 12.0% | 12.4% | 7.3% | 23.9% |
| ROE % | 9.3% | 12.6% | 9.4% | -18.9% | 2.4% | 9.4% | 8.2% | 9.4% | 4.2% | 19.0% |
| Debtor days | 43 | 54 | 39 | 33 | 30 | 62 | 32 | 29 | 37 | 19 |
| Inventory days | 36 | 22 | 31 | 39 | 53 | 36 | 21 | 5 | 0 | 0 |
| Days payable | 397 | 379 | 240 | 223 | 220 | 151 | 95 | 90 | 79633 | 1 |
| Cash conversion cycle | -317 | -303 | -170 | -151 | -137 | -53 | -42 | -55 | -79596 | 19 |
| OCF / EBITDA % | 28.7% | 30.7% | 43.4% | 54.9% | 156.2% | 88.9% | 79.6% | 76.3% | n.m. | n.m. |
| OCF / EBITDA % (3 years) | — | — | 35.8% | 45.5% | 80.9% | 93.8% | 104.1% | 81.5% | 89.3% | n.m. |
| Debt / equity | 0.57 | 0.39 | 0.28 | 0.44 | 0.19 | 0.24 | 0.21 | 0.13 | 0.01 | — |
| Current ratio | 1.29 | 1.40 | 1.37 | 1.27 | 1.58 | 1.35 | 1.45 | 1.56 | 1.58 | 1.38 |
| Net debt / EBITDA | 1.85 | — | 0.53 | 0.44 | -0.07 | 0.28 | 0.16 | -0.22 | -0.90 | -0.57 |