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QUESS Diversified 15 May 2026

Quess Corp Ltd — Q4 FY26

Quess Corp delivered a steady Q4 FY26 with revenue of ₹3,892 crore (+6% YoY) and EBITDA of ₹86 crore (+28% YoY), driven by margin expansion in professional staffing (12%+ margin) and overseas (6.2% blended).

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Revenue ₹3,892 Cr +6%
EBITDA ₹86 Cr +28%
PAT ₹64 Cr +167%
EBITDA Margin 2.2% +37bps
Duration 62 min
Read Time 1 min read

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Quess Corp delivered a steady Q4 FY26 with revenue of ₹3,892 crore (+6% YoY) and EBITDA of ₹86 crore (+28% YoY), driven by margin expansion in professional staffing (12%+ margin) and overseas (6.2% blended). PAT surged 167% YoY to ₹64 crore, aided by operating leverage and lower exceptional items. The structural shift toward high-margin businesses (now 50% of profitability) underpins the 2.2% EBITDA margin, up 37 bps YoY. Management guided for 2%+ margins in the near term and 2.4% over three years, with professional staffing targeting 11-12% margins. General staffing added 26,000 net headcount but faced headwinds from labor code implementation and project discontinuations. Key risk: geopolitical instability in the Middle East could impact overseas revenue, though management noted portfolio diversification into essential services.

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Quarter Snapshot

General Staffing Net Headcount Addition 26,000
-42% YoY

Added 26,000 net headcount in FY26 vs historical average of 45-50k, partly due to 7,000 project discontinuation.

Professional Staffing EBITDA Margin 12.7%
+470 bps YoY

Professional staffing margins expanded to 12.7% in Q4, driven by GCC focus and niche skill sets.

New Logos Added (Professional Staffing) 61
+0% YoY

Added 61 new logos in professional staffing during FY26, with 90% from GCC customers.

Overseas EBITDA Margin (Middle East) 11%
+0 bps YoY

Middle East business closed FY26 with 11% EBITDA margin, supported by essential services exposure.

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Guidance and risk preview

Top guidance Professional staffing revenue growth of 12-13% in FY27

Management expects professional staffing to return to 10-11% headcount growth and 12-13% revenue growth in FY27, driven by new GCC mandates.

Top risk Geopolitical instability in Middle East

Ongoing geopolitical tensions could disrupt operations or demand in the Middle East, though management highlighted portfolio diversification into e...

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