Risk Intelligence
Geopolitical instability in Middle East
View Risks →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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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.
Geopolitical instability in Middle East
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Read Transcript →Added 26,000 net headcount in FY26 vs historical average of 45-50k, partly due to 7,000 project discontinuation.
Professional staffing margins expanded to 12.7% in Q4, driven by GCC focus and niche skill sets.
Added 61 new logos in professional staffing during FY26, with 90% from GCC customers.
Middle East business closed FY26 with 11% EBITDA margin, supported by essential services exposure.
Management expects professional staffing to return to 10-11% headcount growth and 12-13% revenue growth in FY27, driven by new GCC mandates.
Ongoing geopolitical tensions could disrupt operations or demand in the Middle East, though management highlighted portfolio diversification into e...
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