Quess Corp Limited (QUESS)

Services · Commercial Services & Supplies · NSE · Updated 20 July 2026

₹290.95 ↓ 7.02% (1Y)

🎯 Key Takeaways

Quess Corp Limited is in a phase of operational stabilization following a period of margin compression, with recent quarters showing revenue growth and improved profitability trends. Management appears focused on execution discipline and capital efficiency, supported by governance updates and shareholder-approved strategic initiatives.
Revenue grew 6.6% QoQ to ₹5,519 in Q3FY25.
⚠️ Margin pressure persists despite revenue growth, with OPM hovering near 3.6-4.0%, indicating sensitivity to cost inputs or pricing competition.

Market Cap

₹3,031

P/E Ratio

8.1

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Quess Corp Limited is in a phase of operational stabilization following a period of margin compression, with recent quarters showing revenue growth and improved profitability trends. Management appears focused on execution discipline and capital efficiency, supported by governance updates and shareholder-approved strategic initiatives. The company is navigating a transition from earlier growth phases toward sustainable profitability in its core services business.

📰 What's Happening

In Q3FY25, Quess reported revenue of ₹5,519 crore, up from ₹5,179 crore in Q2FY25, with operating profit of ₹184 crore and OPM of 3.6%. The company announced the allotment of 28,395 equity shares to RSU holders under its Stock Ownership Plan 2020, increasing paid-up capital and aggregating to Rs. 1,49,35,98,490. Shareholders approved key resolutions including amendments to the Stock Ownership Plan 2020, approval of the 2026 Plan, RSU grants, secondary acquisition authorization, and the appointment of Lohit Bhatia as Whole-time Director and CEO via e-voting on May 11, 2026. The trading window closed on June 26, 2026, ahead of quarterly results disclosure for June 30, 2026.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	4,440	4,600	4,748	4,842	4,910	5,003	5,179	5,519
Operating Profit	156	158	177	166	195	211	200	184
OPM %	3.4%	3.4%	3.4%	3.7%	4.0%	3.7%	3.8%	3.6%
Net Profit	30	48	71	64	98	112	94	85
EPS	₹2.24	₹3.23	₹4.85	₹4.30	₹6.36	₹6.99	₹6.15	₹5.42

Revenue has grown sequentially for four consecutive quarters, rising from ₹4,440 crore in Q4FY23 to ₹5,519 crore in Q3FY25, indicating expanding operations. Operating profit margins have stabilized around 3.6-4.0% after a dip in Q2FY24, while net profit and EPS show improvement from ₹30 crore (₹2.24 EPS) in Q4FY23 to ₹85 crore (₹5.42 EPS) in Q3FY25. This upward trend in profitability aligns with management's focus on cost optimization and operational efficiency, though margin expansion remains limited, suggesting ongoing pricing pressures or investment needs.

🔮 Management Outlook & What's Next

Management has not provided explicit forward guidance in the available filing summaries, but the shareholder approval of the 2026 Plan and RSU grants signals confidence in future capital allocation and retention strategies. The appointment of Lohit Bhatia as Whole-time Director and CEO reflects leadership continuity and potential strategic direction under his oversight. No official revenue or margin guidance was disclosed in the reviewed filings, but operational updates suggest sustained focus on service delivery and margin management.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Commercial Services & Supplies

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Redington Limited	17,300	13.7	—	—	—
Central Mine Planning & Design Institute Limited	16,603	—	—	—	—
Firstsource Solutions Limited	16,561	28.8	—	—	—
International Gemological Institute Limited	14,117	26.6	—	—	—
eClerx Services Limited	13,949	26.9	—	—	—
MMTC Limited	9,449	61.2	—	—	—
Nesco Limited	8,669	25.3	—	—	—
Inox Green Energy Services Limited	7,132	209.0	—	—	—
WeWork India Management Limited	6,808	—	—	—	—
Nirlon Limited	5,390	—	—	—	—

🔗 Peer Stock Analyses

REDINGTON CMPDI FSL IGIL ECLERX

⚠️ Risk Factors

1. Margin pressure persists despite revenue growth, with OPM hovering near 3.6-4.0%, indicating sensitivity to cost inputs or pricing competition. 2. The company remains in a quiet period ahead of quarterly results, limiting transparency on near-term performance. 3. Leadership transition to Lohit Bhatia as CEO introduces execution risk, with no clear roadmap disclosed yet. 4. Regulatory and compliance scrutiny may increase post-shareholder approvals, particularly around RSU plans and governance amendments.

📋 Recent Filings

🧠 Analyst's Read

Quess Corp is demonstrating incremental operational improvement with sequential revenue and profitability gains, but margin expansion remains constrained. Investors should monitor the upcoming quarterly results for signs of sustainable profitability and clarity on the new CEO's strategy. The company appears to be in a stabilization phase, with governance updates supporting long-term alignment but limited near-term catalysts visible.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-20.

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