Reported Earnings • May 06
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: ₹14.87 (up from ₹3.08 in FY 2025). Revenue: ₹153.2b (up 2.4% from FY 2025). Net income: ₹2.22b (up 384% from FY 2025). Profit margin: 1.4% (up from 0.3% in FY 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.8%. Revenue is forecast to grow 9.3% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Announcement • Apr 29
Quess Corp Limited to Report Q4, 2026 Results on May 04, 2026 Quess Corp Limited announced that they will report Q4, 2026 results at 9:08 AM, Indian Standard Time on May 04, 2026 Price Target Changed • Apr 17
Price target decreased by 9.1% to ₹270 Down from ₹297, the current price target is an average from 8 analysts. New target price is 37% above last closing price of ₹197. The company is forecast to post earnings per share of ₹14.44 for next year compared to ₹3.08 last year. Declared Dividend • Jan 31
Dividend of ₹5.00 announced Shareholders will receive a dividend of ₹5.00. Ex-date: 6th February 2026 Payment date: 16th February 2026 Dividend yield will be 165%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is not covered by earnings (264% earnings payout ratio). However, it is covered by cash flows (54% cash payout ratio). The dividend has increased by an average of 7.4% per year over the past 5 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 194% to bring the payout ratio under control. EPS is expected to grow by 102% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Jan 30
Third quarter 2026 earnings: EPS exceeds analyst expectations Third quarter 2026 results: EPS: ₹3.69 (down from ₹5.42 in 3Q 2025). Revenue: ₹39.3b (down 29% from 3Q 2025). Net income: ₹549.8m (down 32% from 3Q 2025). Profit margin: 1.4% (in line with 3Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.2%. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Price Target Changed • Jan 30
Price target decreased by 7.1% to ₹318 Down from ₹343, the current price target is an average from 8 analysts. New target price is 53% above last closing price of ₹208. The company is forecast to post earnings per share of ₹14.60 for next year compared to ₹3.08 last year. Announcement • Jan 20
Quess Corp Limited to Report Q3, 2026 Results on Jan 28, 2026 Quess Corp Limited announced that they will report Q3, 2026 results on Jan 28, 2026 Buy Or Sell Opportunity • Jan 20
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to ₹199. The fair value is estimated to be ₹256, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 24%. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to grow by 490% in the next 2 years. Buy Or Sell Opportunity • Dec 31
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to ₹206. The fair value is estimated to be ₹258, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 24%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 483% in the next 2 years. Buy Or Sell Opportunity • Dec 04
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 23% to ₹205. The fair value is estimated to be ₹257, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 24%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 483% in the next 2 years. Price Target Changed • Nov 15
Price target decreased by 8.7% to ₹349 Down from ₹382, the current price target is an average from 9 analysts. New target price is 65% above last closing price of ₹212. The company is forecast to post earnings per share of ₹14.45 for next year compared to ₹3.08 last year. Buy Or Sell Opportunity • Nov 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to ₹223. The fair value is estimated to be ₹283, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 24%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 488% in the next 2 years. Reported Earnings • Oct 30
Second quarter 2026 earnings: EPS misses analyst expectations Second quarter 2026 results: EPS: ₹3.46 (down from ₹6.15 in 2Q 2025). Revenue: ₹38.4b (down 26% from 2Q 2025). Net income: ₹516.0m (down 44% from 2Q 2025). Profit margin: 1.3% (down from 1.8% in 2Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.8%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has fallen by 24% per year whereas the company’s share price has fallen by 23% per year. Announcement • Oct 22
Quess Corp Limited to Report Q2, 2026 Results on Oct 29, 2025 Quess Corp Limited announced that they will report Q2, 2026 results on Oct 29, 2025 Buy Or Sell Opportunity • Oct 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to ₹248. The fair value is estimated to be ₹312, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.8% over the last 3 years. Earnings per share has declined by 14%. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to grow by 493% in the next 2 years. Upcoming Dividend • Aug 01
Upcoming dividend of ₹6.00 per share Eligible shareholders must have bought the stock before 08 August 2025. Payment date: 28 September 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.4%. Within top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (1.1%). Reported Earnings • Jul 30
First quarter 2026 earnings: EPS in line with expectations, revenues disappoint First quarter 2026 results: EPS: ₹3.40 (down from ₹6.99 in 1Q 2025). Revenue: ₹36.5b (down 27% from 1Q 2025). Net income: ₹510.0m (down 51% from 1Q 2025). Profit margin: 1.4% (down from 2.1% in 1Q 2025). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Announcement • Jul 21
Quess Corp Limited to Report Q1, 2026 Results on Jul 28, 2025 Quess Corp Limited announced that they will report Q1, 2026 results on Jul 28, 2025 Price Target Changed • Jul 10
Price target decreased by 9.7% to ₹400 Down from ₹443, the current price target is an average from 8 analysts. New target price is 31% above last closing price of ₹305. The company is forecast to post earnings per share of ₹15.57 for next year compared to ₹3.08 last year. Announcement • Jun 20
Quess Corp Limited, Annual General Meeting, Aug 29, 2025 Quess Corp Limited, Annual General Meeting, Aug 29, 2025. Board Change • Jun 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. Group CEO & Additional Executive Director Guru Srinivasan was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 10
Quess Corp Limited to Report Q4, 2025 Results on May 19, 2025 Quess Corp Limited announced that they will report Q4, 2025 results on May 19, 2025 Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment deteriorates as stock falls 44% After last week's 44% share price decline to ₹328, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 30x in the Professional Services industry in India. Total loss to shareholders of 48% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹579 per share. New Risk • Apr 15
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (15% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Buy Or Sell Opportunity • Apr 02
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 2.7% to ₹686. The fair value is estimated to be ₹571, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 20%. Revenue is forecast to grow by 29% in 2 years. Earnings are forecast to grow by 60% in the next 2 years. New Risk • Feb 09
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.6% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Jan 30
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: ₹5.42 (up from ₹4.30 in 3Q 2024). Revenue: ₹55.3b (up 14% from 3Q 2024). Net income: ₹804.9m (up 26% from 3Q 2024). Profit margin: 1.5% (up from 1.3% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Jan 29
Quess Corp Limited Declares Interim Dividend for the Financial Year 2024-25, Payable on or Before February 18, 2025 Quess Corp. Limited announced at the board meeting held on January 29, 2025, approved Declaration of an Interim Dividend of INR 4/- per equity share of face value of INR 10/- each for the financial year 2024-25. The Interim Dividend shall be paid on or before February 18, 2025 to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on the Record date i.e. February 07, 2025 fixed for the purpose. Announcement • Jan 22
Quess Corp Limited to Report Q3, 2025 Results on Jan 29, 2025 Quess Corp Limited announced that they will report Q3, 2025 results on Jan 29, 2025 Announcement • Dec 04
Quess Corp Limited (NSEI:QUESS) agreed to acquire Food catering and facility management services business of Archer Integrated and Astrin Traders for INR 110 million. Quess Corp Limited (NSEI:QUESS) agreed to acquire Food catering and facility management services business of Archer Integrated and Astrin Traders for INR 110 million on December 03, 2024. The transaction is expected to close prior to March 31, 2025. Reported Earnings • Oct 29
Second quarter 2025 earnings released: EPS: ₹6.15 (vs ₹4.85 in 2Q 2024) Second quarter 2025 results: EPS: ₹6.15 (up from ₹4.85 in 2Q 2024). Revenue: ₹51.8b (up 9.2% from 2Q 2024). Net income: ₹923.9m (up 28% from 2Q 2024). Profit margin: 1.8% (up from 1.5% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Oct 18
Quess Corp Limited to Report Q2, 2025 Results on Oct 28, 2024 Quess Corp Limited announced that they will report Q2, 2025 results on Oct 28, 2024 Buy Or Sell Opportunity • Sep 23
Now 20% undervalued Over the last 90 days, the stock has risen 41% to ₹856. The fair value is estimated to be ₹1,075, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 30%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 23% per annum over the same time period. Announcement • Sep 17
Quess Corp Limited Declares Interim and Final Dividend for the Financial Year Ended March 31, 2024 Quess Corp. Limited at its AGM held on September 16, 2024 declared to confirm the payment of interim dividend of INR 4/- per equity share and to declare a final dividend of INR 6/- per equity share for the financial year ended March 31, 2024. Upcoming Dividend • Aug 30
Upcoming dividend of ₹6.00 per share Eligible shareholders must have bought the stock before 06 September 2024. Payment date: 16 October 2024. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 1.5%. Within top quartile of Indian dividend payers (1.1%). Higher than average of industry peers (1.0%). Announcement • Aug 23
Quess Corp Limited, Annual General Meeting, Sep 16, 2024 Quess Corp Limited, Annual General Meeting, Sep 16, 2024, at 15:30 Indian Standard Time. Price Target Changed • Jul 31
Price target increased by 7.9% to ₹657 Up from ₹608, the current price target is an average from 6 analysts. New target price is 8.2% below last closing price of ₹715. Stock is up 67% over the past year. The company posted earnings per share of ₹18.72 last year. Reported Earnings • Jul 30
First quarter 2025 earnings released: EPS: ₹6.99 (vs ₹3.23 in 1Q 2024) First quarter 2025 results: EPS: ₹6.99 (up from ₹3.23 in 1Q 2024). Revenue: ₹50.1b (up 9.0% from 1Q 2024). Net income: ₹1.04b (up 117% from 1Q 2024). Profit margin: 2.1% (up from 1.0% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹713, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 33x in the Professional Services industry in India. Total loss to shareholders of 9.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹735 per share. Announcement • Jul 22
Quess Corp Limited to Report Q1, 2025 Results on Jul 29, 2024 Quess Corp Limited announced that they will report Q1, 2025 results on Jul 29, 2024 Announcement • Jul 09
Quess Corp Limited Appoints Gurmeet Chahal as CEO of Quess Global Technology Solutions Quess Corp. Limited announced the appointment of Mr. Gurmeet Chahal as CEO of Quess Global Technology Solutions, which is in the process of being demerged to become Digitide Solutions Ltd. This appointment aligns with the demerger announcement that was made in February 2024. In addition to strengthening the strategic management team of the company, the business will also look at deepening its focus on healthcare and financial services while developing greater competencies in Data Technology,AI, and Analytics. He will be part of the Senior Management team. Date of appointment and term of appointment: July 8, 2024 with overseas wholly owned subsidiary. Mr. Gurmeet Chahal comes with over 25 years of experience in digital transformation globally, across industries including healthcare, financial services, hi-tech and manufacturing. He joins the company from Genpact where he led the Digital Transformation Services globally. Prior to that, he incubated, scaled and led large technology transformation businesses at HCL Technologies and DXC. Quess GTS will leverage Gurmeet's extensive knowledge in AI, technology services, business process management and digital transformation - skills that have consistently helped clients achieve their strategic goals and enhance customer satisfaction. Buy Or Sell Opportunity • Jun 04
Now 20% undervalued Over the last 90 days, the stock has risen 6.2% to ₹535. The fair value is estimated to be ₹673, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 34%. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings are also forecast to grow by 28% per annum over the same time period. Recent Insider Transactions • May 21
Key Executive recently sold ₹16m worth of stock On the 16th of May, Guruprasad Srinivasan sold around 25k shares on-market at roughly ₹640 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Guruprasad's only on-market trade for the last 12 months. Price Target Changed • May 12
Price target increased by 10% to ₹630 Up from ₹572, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of ₹641. Stock is up 70% over the past year. The company is forecast to post earnings per share of ₹24.90 for next year compared to ₹18.72 last year. Reported Earnings • May 10
Full year 2024 earnings released: EPS: ₹18.72 (vs ₹15.15 in FY 2023) Full year 2024 results: EPS: ₹18.72 (up from ₹15.15 in FY 2023). Revenue: ₹191.3b (up 12% from FY 2023). Net income: ₹2.78b (up 24% from FY 2023). Profit margin: 1.5% (up from 1.3% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • May 10
Quess Corp Limited Recommends Final Dividend for the Financial Year Ended March 31, 2024 The board of directors of Quess Corp. Limited at their meeting held on May 09, 2024. The board has recommended a final dividend of INR 6 per equity share (60%) of face value of INR 10 each for the financial year ended March 31, 2024, subject to approval of shareholders at the upcoming annual general meeting of the company. The final dividend, if approved by the shareholders at the 17th annual general meeting of the company, will be paid (subject to the deduction of tax at source, as applicable) on or after sixth day of annual general meeting. Announcement • May 05
Quess Corp Limited to Report Q4, 2024 Results on May 09, 2024 Quess Corp Limited announced that they will report Q4, 2024 results on May 09, 2024 Buy Or Sell Opportunity • Apr 15
Now 21% undervalued Over the last 90 days, the stock has risen 17% to ₹597. The fair value is estimated to be ₹760, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings are also forecast to grow by 35% per annum over the same time period. Announcement • Feb 07
Onsite Electro Services Pvt. Ltd. agreed to acquire Qdigi Services Limited from Quess Corp Limited (NSEI:QUESS) for INR 800 million. Onsite Electro Services Pvt. Ltd. agreed to acquire Qdigi Services Limited from Quess Corp Limited (NSEI:QUESS) for INR 800 million on February 6, 2024. As of March 31, 2024, Qdigi Services Limited generated revenue of INR 3.8 billion and net worth of INR 343.8 million. The transaction is approved by board of directors of Quess Corp Limited. As part of the transaction, the entire team and business of Qdigi will be transferred to Onsite Electro Services Pvt. Ltd. The transaction is expected to be completed over the next 2-3 months. New Risk • Feb 03
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.1% Last year net profit margin: 1.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (1.1% net profit margin). Announcement • Feb 03
Quess Corp Limited Declares Interim Dividend for the Financial Year 2023-24, Payable on or Before February 22, 2024 Quess Corp. Limited announced at the board meeting held on February 2, 2024, approved Declared an Interim Dividend of INR 4/- per equity share of face value of INR 10/- each for the financial year 2023-24. The Interim Dividend shall be paid on or before February 22, 2024 to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on the Record date i.e. February 12, 2024 fixed for the purpose. Announcement • Jan 26
Quess Corp Limited to Report Q3, 2024 Results on Feb 02, 2024 Quess Corp Limited announced that they will report Q3, 2024 results on Feb 02, 2024 Price Target Changed • Dec 19
Price target increased by 8.7% to ₹516 Up from ₹475, the current price target is an average from 6 analysts. New target price is approximately in line with last closing price of ₹520. Stock is up 18% over the past year. The company is forecast to post earnings per share of ₹19.16 for next year compared to ₹15.15 last year. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹492, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 20x in the Professional Services industry in India. Total returns to shareholders of 25% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹430 per share. Reported Earnings • Nov 07
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: ₹4.85 (up from ₹2.84 in 2Q 2023). Revenue: ₹47.6b (up 12% from 2Q 2023). Net income: ₹719.3m (up 71% from 2Q 2023). Profit margin: 1.5% (up from 1.0% in 2Q 2023). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 44%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Oct 31
Quess Corp Limited to Report Q2, 2024 Results on Nov 06, 2023 Quess Corp Limited announced that they will report Q2, 2024 results on Nov 06, 2023 Announcement • Sep 02
Quess Corp Limited, Annual General Meeting, Sep 26, 2023 Quess Corp Limited, Annual General Meeting, Sep 26, 2023, at 15:30 Indian Standard Time. Agenda: To consider approve and adopt Audited Standalone Financial Statements along with the Auditor' Report of the Company for the financial year ended Marc 31, 2023; to consider consider, approve and adopt Audited Consolidated Financial Statements along with the Auditor's Report of the Company for the financial year ended March 31, 2023; to consider continue the directorship of Mr. Chandran Ratnaswami as a Non-Executive Director of the Company beyond the age of 75 years; and to consider other matters. Board Change • Sep 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Group CEO & Additional Executive Director Guru Srinivasan was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Aug 03
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.2% Last year net profit margin: 1.8% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.2% net profit margin). Reported Earnings • Aug 03
First quarter 2024 earnings released: EPS: ₹3.23 (vs ₹4.52 in 1Q 2023) First quarter 2024 results: EPS: ₹3.23 (down from ₹4.52 in 1Q 2023). Revenue: ₹46.0b (up 16% from 1Q 2023). Net income: ₹478.1m (down 28% from 1Q 2023). Profit margin: 1.0% (down from 1.7% in 1Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Jul 26
Quess Corp Limited to Report Q1, 2024 Results on Aug 02, 2023 Quess Corp Limited announced that they will report Q1, 2024 results on Aug 02, 2023 Price Target Changed • May 19
Price target decreased by 8.9% to ₹471 Down from ₹517, the current price target is an average from 5 analysts. New target price is 23% above last closing price of ₹383. Stock is down 41% over the past year. The company is forecast to post earnings per share of ₹21.07 for next year compared to ₹15.16 last year. Reported Earnings • May 18
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: ₹15.16 (down from ₹16.32 in FY 2022). Revenue: ₹171.8b (up 26% from FY 2022). Net income: ₹2.24b (down 6.9% from FY 2022). Profit margin: 1.3% (down from 1.8% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.7%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Apr 01
Chairman recently bought ₹23m worth of stock On the 29th of March, Ajit Isaac bought around 65k shares on-market at roughly ₹358 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Ajit has been a buyer over the last 12 months, purchasing a net total of ₹67m worth in shares. Recent Insider Transactions • Feb 09
Chairman recently bought ₹186m worth of stock On the 6th of February, Ajit Isaac bought around 500k shares on-market at roughly ₹372 per share. This transaction amounted to 3.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Ajit has been a buyer over the last 12 months, purchasing a net total of ₹310m worth in shares. Price Target Changed • Feb 07
Price target decreased by 18% to ₹563 Down from ₹685, the current price target is an average from 6 analysts. New target price is 47% above last closing price of ₹384. Stock is down 47% over the past year. The company is forecast to post earnings per share of ₹14.10 for next year compared to ₹16.32 last year. Reported Earnings • Feb 05
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: ₹5.94 (up from ₹5.67 in 3Q 2022). Revenue: ₹44.7b (up 21% from 3Q 2022). Net income: ₹880.2m (up 5.0% from 3Q 2022). Profit margin: 2.0% (down from 2.3% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) exceeded analyst estimates by 79%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Feb 04
Quess Corp Limited Reconstitutes Risk Management Committee Quess Corp. Limited at the Board of Directors meeting held on February 03, 2023 reconstituted The composition of the Risk Management Committee of the Company will be as follows: Mr. Ajit Isaac, Chairman as Chairperson; Mr. Guruprasad Srinivasan, Executive Director and Group CEO as Member; Ms. Revathy Ashok, Non-Executive Independent Director as Member; Mr. Sanjay Anandaram, Non-Executive Independent Director and Mr. Kamal Pal Hoda, Group Chief Financial Officer as Members of the Committee. Buying Opportunity • Jan 27
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 35%. The fair value is estimated to be ₹469, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 50%. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings is also forecast to grow by 36% per annum over the same time period. Announcement • Jan 26
Quess Corp Limited to Report Q3, 2023 Results on Feb 03, 2023 Quess Corp Limited announced that they will report Q3, 2023 results on Feb 03, 2023 Announcement • Dec 24
Quess Corp Limited Announces Group Chief Financial Officer Changes, Effective January 10, 2023 The board of directors of Quess Corp. Limited meeting held on December 23, 2022, the Company vide its letter dated October 03, 2022 had intimated about the appointment of Mr. Kamal Pal Hoda as the Group Chief Financial Officer (Designate) of the Company and superannuation of Mr. N. Ravi Vishwanath in year 2023. Based on recommendations of the Nomination and Remuneration Committee and the Audit Committee, the Board has approved appointment of Mr. Kamal Pal Hoda as the Group Chief Financial Officer and KMP of the Company with effect from January 10, 2023 in place of Mr. N. Ravi Vishwanath. Mr. Kamal is a Chartered Accountant having extensive experience in Core Business Finance with reputed Indian listed companies. He has held strategic positions with conglomerates leading large finance teams and also played a pivotal role in the implementation of various Finance ERPs and digital initiatives in his work experience. Before joining Quess, he was the Chief Financial Officer for Hindustan Zinc (a Vedanta Group Company)'s Mining Business. He has played a pivotal role in the implementation of various Finance ERPs and digital initiatives during his work experience. He takes pride in being recognized as "TOP 250 GREAT MANAGERS" across India by People Business consulting and has won many accolades for Leadership excellence. Presently, he is Group CFO (Designate) of the Company. Buying Opportunity • Dec 23
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 36%. The fair value is estimated to be ₹520, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 50%. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings is also forecast to grow by 36% per annum over the same time period. Announcement • Dec 08
Aparajitha Corporate Services Private Limited Completed the acquisition of 76% stake in Simpliance Technologies Pvt. Ltd. from Quess Corp Limited (BSE:539978) and other shareholders. Aparajitha Corporate Services Private Limited agreed to acquire 76% stake in Simpliance Technologies Pvt. Ltd. from Quess Corp Limited (BSE:539978) and other shareholders for an enterprise value of INR 1200 million on October 6, 2022. Transaction is expected to be completed Within 30 days, subject to fulfilment of conditions set out in the Share Purchase Agreement. The transaction is subject to regulatory approval.
Aparajitha Corporate Services Private Limited Completed the acquisition of 76% stake in Simpliance Technologies Pvt. Ltd. from Quess Corp Limited (BSE:539978) and other shareholders on December 7, 2022 Recent Insider Transactions • Nov 23
Non- Executive Chairman recently bought ₹23m worth of stock On the 18th of November, Ajit Isaac bought around 50k shares on-market at roughly ₹459 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Ajit has been a buyer over the last 12 months, purchasing a net total of ₹103m worth in shares. Buying Opportunity • Nov 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be ₹569, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 50%. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings is also forecast to grow by 36% per annum over the same time period. Price Target Changed • Nov 16
Price target decreased to ₹714 Down from ₹800, the current price target is an average from 7 analysts. New target price is 49% above last closing price of ₹480. Stock is down 49% over the past year. The company is forecast to post earnings per share of ₹16.83 for next year compared to ₹16.32 last year. Reported Earnings • Nov 11
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: EPS: ₹2.84 (up from ₹2.54 in 2Q 2022). Revenue: ₹42.8b (up 33% from 2Q 2022). Net income: ₹420.7m (up 12% from 2Q 2022). Profit margin: 1.0% (down from 1.2% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) missed analyst estimates by 44%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Professional Services industry in India. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Nov 10
Quess Corp Limited Declares Interim Dividend for the Financial Year 2022-23, Payable on or Before November 29, 2022 The board of directors of Quess Corp. Limited at its meeting held on November 09, 2022, Declared an Interim Dividend of INR 8 per equity share of face value of INR 10 each for the financial year 2022-23. The interim dividend shall be paid on or before November 29, 2022, to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on November 18, 2022, which is the Record Date fixed for the purpose. Announcement • Nov 03
Quess Corp Limited to Report Q2, 2023 Results on Nov 09, 2022 Quess Corp Limited announced that they will report Q2, 2023 results on Nov 09, 2022 Price Target Changed • Oct 11
Price target decreased to ₹800 Down from ₹865, the current price target is an average from 7 analysts. New target price is 32% above last closing price of ₹607. Stock is down 33% over the past year. The company is forecast to post earnings per share of ₹22.92 for next year compared to ₹16.32 last year. Announcement • Oct 07
Aparajitha Corporate Services Private Limited agreed to acquire 53% stake in Simpliance Technologies Pvt. Ltd. from Quess Corp Limited (BSE:539978) for an enterprise value of INR 1200 million. Aparajitha Corporate Services Private Limited agreed to acquire 53% stake in Simpliance Technologies Pvt. Ltd. from Quess Corp Limited (BSE:539978) for an enterprise value of INR 1200 million on October 6, 2022. Transaction is expected to be completed Within 30 days, subject to fulfilment of conditions set out in the Share Purchase Agreement. Announcement • Oct 04
Quess Corp Limited Announces Appointment of Mr. Kamal Pal Hoda as Group CFO Quess Corp. Limited announced that the Nomination and Remuneration Committee of the Company has considered and approved the appointment of Mr. Kamal Pal Hoda as Group CFO (Designate) with immediate effect. The company's current Group CFO, Mr. N Ravi Vishwanath will superannuate in the year 2023 and as part of the succession plan, Mr. Kamal will assume the role of Group CFO with requisite Board's approval. Mr. Kamal is a Chartered Accountant having extensive experience in Core Business Finance with reputed Indian listed companies. He has held strategic positions with conglomerates leading large finance teams and also played a pivotal role in the implementation of various Finance ERPs and digital initiatives in his work experience. Before joining Quess, he was the Chief Financial Officer for Hindustan Zinc (a Vedanta Group Company)'s Mining Business. Announcement • Aug 30
Quess Corp Limited, Annual General Meeting, Sep 22, 2022 Quess Corp Limited, Annual General Meeting, Sep 22, 2022, at 15:30 Indian Standard Time. Agenda: To receive, consider, approve and adopt Audited Standalone Financial Statements along with the Auditor's Report of the Company for the financial year ended March 31, 2022; and to appoint Mr. Ajit Abraham Isaac as a Director liable to retire by rotation;. Major Estimate Revision • Aug 18
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in 2023 has deteriorated. 2023 revenue forecast decreased from ₹166.7b to ₹163.7b. EPS estimate also fell from ₹27.10 per share to ₹22.86 per share. Net income forecast to grow 44% next year vs 18% growth forecast for Professional Services industry in India. Consensus price target down from ₹865 to ₹819. Share price was steady at ₹577 over the past week. Reported Earnings • Aug 13
First quarter 2023 earnings released: EPS: ₹42.00 (vs ₹3.13 in 1Q 2022) First quarter 2023 results: EPS: ₹42.00 (up from ₹3.13 in 1Q 2022). Revenue: ₹39.9b (up 34% from 1Q 2022). Net income: ₹668.5m (up 45% from 1Q 2022). Profit margin: 1.7% (up from 1.5% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 19%, compared to a 18% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Aug 03
Quess Corp Limited to Report Q1, 2023 Results on Aug 11, 2022 Quess Corp Limited announced that they will report Q1, 2023 results on Aug 11, 2022 Announcement • Jun 01
Quess Corp Limited's Board Considers and Approves the Declaration of an Interim Dividend Payable on or After June 21, 2022 Quess Corp. Limited at the board of directors meeting held on May 31, 2022 have considered and approved the declaration of an Interim Dividend at INR 4 per equity share of face value of INR 10/- each out of profits of the financial year ended March 31, 2022, as per Section 123(3) of the Companies Act, 2013 and amendments thereto. The Record Date for the purpose of payment of the Interim Dividend will be on June 10, 2022. The Interim Dividend will be paid on or after June 21, 2022 to the registered shareholders whose names appear on the register of members or in the record of the depository as beneficial owners of the shares as on the Record Date as per the provisions of Companies Act, 2013, through electronic mode or by dividend warrants/banker's cheque/demand drafts, as applicable. Reported Earnings • May 29
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: ₹16.32 (up from ₹3.93 in FY 2021). Revenue: ₹136.9b (up 26% from FY 2021). Net income: ₹2.41b (up 317% from FY 2021). Profit margin: 1.8% (up from 0.5% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Over the next year, revenue is forecast to grow 23%, compared to a 15% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • May 17
Quess Corp Limited to Report Q4, 2022 Final Results on May 26, 2022 Quess Corp Limited announced that they will report Q4, 2022 final results on May 26, 2022 Announcement • Mar 31
Quess Corp Limited Announces Re-Designation Ajit Isaac as Executive Chairman to Non-Executive Chairman, with Effect from April 1, 2022 Quess Corp. Limited announced re-designation of Mr. Ajit Isaac (DIN: 00087168), Executive Chairman to "Non-Executive Chairman (Non-Executive Director)" with effect from April 1, 2022. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₹534, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 19x in the Professional Services industry in Asia. Total loss to shareholders of 31% over the past three years. Recent Insider Transactions • Feb 18
Executive Chairman recently bought ₹80m worth of stock On the 15th of February, Ajit Isaac bought around 132k shares on-market at roughly ₹606 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Ajit has been a net seller over the last 12 months, reducing personal holdings by ₹1.7b. 
