Quess Corp LimitedFinancial ServicesQUESS
Q1 FY27 concall · earnings callQuess Corp Limited
Quess Corp is executing a strategic shift from a volume-driven staffing company to a value-focused one, aiming to significantly grow higher-margin, dollar-linked revenue from Global Capability Centres and international corridors.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Revenue | ₹15,305 Cr | — | |
| EBITDA | ₹312 Cr | 19% | |
| EBITDA Margin | 2.0% | 20 bps | |
| Adjusted PAT | ₹230 Cr | 10% | |
| Net Cash | ₹271 Cr | — | |
| Return on Equity | 20% | — | |
| Q1 FY27 Revenue | ₹4,182 Cr | 15% | |
| Q1 FY27 EBITDA | Not Stated | 21% |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹5,519.07 Cr+14% YoY+6.6% QoQ | ₹85.14 Cr+33.8% YoY-9.1% QoQ | ₹5.42+26% YoY-11.9% QoQ |
| Q2 FY25 | ₹5,179.36 Cr+9.1% YoY+3.5% QoQ | ₹93.62 Cr+32% YoY-16.2% QoQ | ₹6.15+26.8% YoY-12% QoQ |
| Q1 FY25 | ₹5,003.11 Cr+8.8% YoY+1.9% QoQ | ₹111.68 Cr+132.1% YoY+14.1% QoQ | ₹6.99+116.4% YoY+9.9% QoQ |
| Q4 FY24 | ₹4,909.75 Cr+10.6% YoY+1.4% QoQ | ₹97.84 Cr+226.2% YoY+53.7% QoQ | ₹6.36+183.9% YoY+47.9% QoQ |
| Q3 FY24 | ₹4,841.83 Cr+8.4% YoY+2% QoQ | ₹63.65 Cr-25.7% YoY-10.3% QoQ | ₹4.30-27.6% YoY-11.3% QoQ |
TL;DR
- Revenue was ₹15,305 crore with EBITDA up 19% to ₹312 crore and margins improving to 2.0%.
- Professional Staffing and Overseas now contribute half of operating profit, up from 42% a year ago.
- Q1 FY27 revenue grew 15%, EBITDA grew 21%, and PAT grew 61%.
- Strategy (Quess 2.0) focuses on growing dollar-linked revenue to 20% and high-margin profit share to 65%.
- Key priorities include deepening core, building international talent corridors (Japan signed), supporting GCCs, and using AI.
- The company is debt-free with ₹271 crore net cash and a 20% RoE.
Said on the call
“Quess is no longer only a volume company. The outcome we are working towards is a balance of volume and value, and that shift is the single most important change in our business.”
From the Q&A
| Topic | What management said |
|---|---|
| Growth Opportunities and Profit Mix | Identified strongest opportunity in Manufacturing, Construction, Engineering, Value-Added Services, and Global Capability Centres. Professional Staffing and Overseas contributed 50% of operating profit, up from 42% a year ago. |
| International Revenue and Margin Targets | Stated aspiration to grow dollar-linked, higher-margin revenue from 7% to 20%+ in the next 3-4 years, and to increase profit share from Professional Staffing and Overseas from 50% to around 65%. |
| AI Strategy and Impact | Approaching AI internally to enhance efficiency in sourcing and onboarding, and externally by shifting portfolio towards work AI complements, like GCC roles in cloud and cybersecurity. AI is also expected to cause displacement in some categories, but net effect seen as favorable. |
| GCC Business Penetration | In Professional Staffing, GCCs contributed 67% by revenue. India has 2100+ GCCs; company penetration is still in single to low double digits, representing a large addressable opportunity. |
| Margin Improvement Levers | Margin improvement pursued by tilting General Staffing to higher-margin segments like Construction (8.3% margin), growing Professional and Overseas faster, and investing in AI-led sourcing tools. EBITDA grew 19% on 2% revenue growth. |
| Financial Contingency and Cash | Company is zero-debt, closed year with ₹271 crore cash, converts about 80% of EBITDA to operating cash flow, and retains 25% of free cash for contingencies and growth investments. |
Guidance
- Aspire to grow dollar-linked, higher-margin revenue from 7% to 20% in the next three to four years.
- Aspire to grow share of profit from Professional Staffing and Overseas from 50% to around 65%.
Source
Summary written from the transcript filed by Quess Corp Limited for the call held on 25 Aug 2026; published 1 Sept 2026, 19:47 IST.
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