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Quess Corp. Ltd. (QUESS) AI Stock Analysis

IN:QUESS

Quess Corp. Ltd.

(NSE:QUESS)

Select Model
Rating:61Neutral
Price Target:INR 323.00â–²(1.38% Upside)
Action:downgraded
Date:11/01/26

The score is supported primarily by the strong balance sheet and recovering cash flow, while revenue contraction and compressed margins are significant risks. Weak technical momentum limits the outlook, and valuation is moderately supportive rather than compelling.

Positive Factors
Strong Cash GenerationConsistently positive free cash flow and close conversion from net income indicate that reported earnings are supported by cash generation. This provides internal funding for operations and investment, improves resilience through business cycles, and reduces reliance on external financing.
Negative Factors
Recent Revenue DeclineThe recent contraction in revenue weakens confidence in near-term scale expansion and suggests that demand or client activity has not remained consistently strong. Sustained top-line pressure could limit operating leverage, reduce reinvestment capacity, and make earnings recovery less durable.

Quess Corp. Ltd. (QUESS) vs. iShares MSCI India ETF (INDA)

-40%-20%0%20%40%60%80%IN:QUESS+44.47%INDA-10.31%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
INR 45.71B
Dividend Yield
1.88%
Average Volume (3M)
27.78K
Price to Earnings (P/E)
18.7
Beta (1Y)
1.36
Revenue Growth
-12.06%
EPS Growth
96.12%
Country
India
Employees
428,977
Sector
General
Sector Strength
55
Industry
Staffing & Employment Services

Quess Corp. Ltd. Business Overview & Revenue Model

Company Description

Quess Corp Limited is a diversified business services firm with significant operations spanning India, Southeast Asia, and North America. The company's activities are organized into three primary divisions: Workforce Management, Operating Asset Manag...

Quess Corp. Ltd. Financial Statement Overview

Summary

Strong balance sheet and improving cash generation are offset by an 8% revenue decline, razor-thin 1.4% net margin, and significant margin erosion.

Income Statement

45Neutral

Balance Sheet

82Very Positive

Cash Flow

75Positive
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue158.35B153.05B149.67B136.95B171.58B136.92B
Gross Profit4.10B8.05B9.16B8.90B10.15B26.03B
EBITDA3.33B3.21B1.07B7.00B6.69B6.53B
Net Income2.53B2.22B458.02M2.78B2.24B2.41B
Balance Sheet
Total Assets030.39B28.12B62.55B61.19B53.71B
Cash, Cash Equivalents and Short-Term Investments2.58B2.54B2.67B6.01B6.13B5.20B
Total Debt01.24B1.13B8.38B10.11B10.35B
Total Liabilities-11.68B18.71B17.26B32.90B33.88B29.57B
Stockholders Equity11.68B11.66B10.85B27.99B25.69B24.38B
Cash Flow
Free Cash Flow1.56B2.00B3.79B4.26B3.62B4.69B
Operating Cash Flow1.58B2.09B3.80B5.29B4.66B5.54B
Investing Cash Flow-344.54M-770.56M22.00M494.95M-22.82M-1.88B
Financing Cash Flow-1.29B-2.13B-3.18B-4.97B-4.43B-4.41B

Quess Corp. Ltd. Technical Analysis

Technical Analysis SentimentNegative
Last Price318.60

Price Trends

50DMA341.94Negative
100DMA314.59Negative
200DMA255.08Positive

Market Momentum

MACD-6.56Positive
RSI36.78Neutral
STOCH50.78Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:QUESS, the sentiment is Negative. The current price of 318.60 is below the 20-day moving average (MA) of 326.24, below the 50-day MA of 341.94, and above the 200-day MA of 255.08, indicating a neutral trend. The MACD of -6.56 indicates Positive momentum. The RSI at 36.78 is Neutral, neither overbought nor oversold. The STOCH value of 50.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:QUESS.

Quess Corp. Ltd. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

IN:QUESS against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
IN:TEAMLEASEIN:TEAMLEASE67NeutralINR 16.49B12.35――4.68%29.26%
IN:MAHLOGIN:MAHLOG65NeutralINR 40.97B54.19―0.61%20.30%―
IN:QUESSIN:QUESS61NeutralINR 45.72B18.69―1.88%-12.06%96.12%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
IN:CMSINFOIN:CMSINFO55NeutralINR 32.77B11.70―2.47%1.71%-21.43%
IN:HGSIN:HGS50NeutralINR 15.57B-36.45―1.48%-1.53%-62.66%
IN:SISIN:SIS47NeutralINR 52.18B36.26―1.85%25.20%269.50%

* General Sector Average

Performance Comparison

-25%0%25%50%IN:QUESSIN:CMSINFOIN:HGSIN:MAHLOGIN:SISIN:TEAMLEASEDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
IN:QUESS and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
IN:QUESSQuess Corp. Ltd.318.2597.9644.47%
IN:CMSINFOCMS Info Systems Ltd.210.60-145.12-40.80%
IN:HGSHinduja Global Solutions Limited338.30-170.67-33.53%
IN:MAHLOGMahindra Logistics Ltd.410.4069.0620.23%
IN:SISSIS Limited378.7053.4116.42%
IN:TEAMLEASETeamLease Services Limited1099.20-586.55-34.79%

Quess Corp. Ltd. Corporate Events

Quess Corp Publishes Q2 FY27 Unaudited Results Notice in Newspapers

Nov 1, 2026

Quess Corp Limited has published a newspaper advertisement announcing the release of its unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026. The results were carried in the English daily Fina...

Quess Corp Q2 profit jumps 44% as headcount tops 500,000

Oct 30, 2026

Quess Corp reported strong Q2 FY27 results, with revenue rising 15% year-on-year to ₹4,396 crore and adjusted EBITDA up 20% to ₹92 crore, while profit after tax jumped 44% to ₹75 crore and earnings per share reached ₹5. The co...

Quess Corp Files Q2 FY27 Investor Presentation With Indian Exchanges

Oct 30, 2026

Quess Corp Ltd has released its investor presentation for the second quarter and first half of fiscal year 2027, covering financial and operational performance up to September 30, 2026. The materials have been filed with both the BSE and NSE in compl...

Quess Corp Declares Interim Dividend and Retains Existing RTA

Oct 30, 2026

Quess Corp Ltd has reported its unaudited standalone and consolidated financial results for the quarter and half-year ended 30 September 2026, reinforcing its disclosure obligations to investors under Indian listing regulations. The release indicates...

Quess Corp Approves Financial Results, Declares Interim Dividend and Retains MUFG as RTA

Oct 30, 2026

Quess Corp Limited’s board has approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, reinforcing its disclosure obligations under Indian listing regulations. The company als...

Quess Corp’s ESG Rating Upgraded to ‘Strong’ by Crisil

Sep 12, 2026

Quess Corp Limited has received an upgraded environmental, social and governance rating from Crisil ESG Ratings & Analytics Ltd., a SEBI-registered ESG rating provider, which assessed the company based solely on publicly available information. Cr...

Quess Corp Publishes Q1 FY27 Earnings Call Transcript

Aug 3, 2026

Quess Corp Limited has released the transcript of its Q1 FY27 earnings conference call, held on July 30, 2026, in compliance with Indian listing regulations. The document, available on the company’s website, details management’s discussio...

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 01, 2026