Quess Corp held its 19th Annual General Meeting, reviewing FY26 performance and outlining its Quess 2.0 strategy. The company reported ₹15,305 crore in revenue and ₹312 crore in EBITDA for FY26, with a 10% rise in Adjusted PAT. Key strategies include growing the core General Staffing business, enhancing margin quality through Professional Staffing and Overseas operations, and expanding international talent corridors, particularly in Japan. The company also reiterated its commitment to shareholder returns, declaring a total dividend of ₹11 per share.
Quess Corp’s 19th Annual General Meeting
The 19th Annual General Meeting of Quess Corp Limited was held on August 25, 2026, via video conference. The meeting provided a comprehensive overview of the company’s performance in the Financial Year 2026 (FY26) and its strategic roadmap for the future under the Quess 2.0 initiative.
FY26 Financial Highlights
During FY26, Quess Corp recorded revenues of ₹15,305 crore. The company’s EBITDA stood at ₹312 crore, representing a 19% growth over the previous year. The EBITDA margin improved by 20 basis points to 2.0%. Adjusted Profit After Tax (PAT) saw a 10% increase, reaching ₹230 crore. Quess Corp ended the fiscal year with a net cash of ₹271 crore, having fully repaid its gross debt. The return on equity was 20%.
Operational and Strategic Updates
Quess Corp closed FY26 with 4,78,594 associates and employees, positioning itself as India’s and Asia’s largest domestic staffing player and among the world’s top five by headcount. The company highlighted a three-way demerger in FY25, creating three separately listed entities. The core Quess Corp entity now operates as a workforce, talent, and technology company with no debt.
Looking ahead, the company’s strategy, Quess 2.0, focuses on four priorities:
- Deepening the core business by growing General Staffing, with a shift towards higher-margin segments like Construction, Manufacturing, and Value-Added Services.
- Building international talent corridors, with a special focus on Japan, aiming for dollar-linked, higher-margin revenue.
- Supporting Global Capability Centres (GCCs) in India across their full lifecycle.
- Leveraging AI to enhance productivity across the company.
The company aims to increase its revenue from high-margin, dollar-linked businesses to 20% from the current 7% over the next three to four years. Professional Staffing and Overseas businesses are targeted to contribute 65% of operating profit, up from 50%.
Shareholder Returns
The Board declared a total dividend of ₹11 per share for FY26. This includes an interim dividend of ₹5, a final dividend of ₹3 (proposed at the AGM), and a special dividend of ₹3 to commemorate the company’s tenth anniversary. The dividend policy aims to return up to 75% of free cash flow to shareholders over a rolling three-year block.
Auditor’s Report
The Independent Statutory Auditors provided a modified opinion regarding certain tax deductions claimed by the company that were disallowed by the Income Tax Authority. However, the company, supported by external experts, believes these deductions are likely to be accepted upon ultimate resolution. The Secretarial Audit Report contained no qualifications or material observations.
Q&A Highlights
During the Q&A session, shareholders inquired about opportunities in international markets, revenue contribution from global operations, the impact of AI on service portfolio and growth, investments in automation, and the company’s positioning by 2030. Management reiterated that AI is being integrated into service delivery and portfolio offerings. They highlighted India’s strong potential in AI talent and the growing GCC ecosystem as key drivers. The company views the net effect of AI as favorable, accelerating the shift towards higher-value roles. The company also discussed its competitive position in the Indian HR services market, holding approximately 10% value share and ranking among the top 5 globally by volume.
Source: BSE
