Quess Corp Share Price Target Forecast 2022, 2023, 2025, 2030

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23 DECEMBER 2021

Motilal Oswal recommends Quess Corp with a target price of Rs 1100.

In its research report dated December 22, 2021, Motilal Oswal suggested a buy rating on Quess Corp with a target price of Rs 1100.

Quess Corp. announced a financial injection in its Monster.com subsidiary from Meridian Investments and Volrado Venture Partners on December 22nd, valued at INR6.0 billion pre-money, significantly greater than its purchase cost of INR896 million in 2018. Monster will use the funds to increase its footprint in the job search and training markets. The increase in funds is beneficial, but it comes with a bigger risk: Monster.com provided 1.2 percent of Quess’ revenues in the second quarter of FY22, but had no impact on PAT due to its breakeven position. Since a result, the post-money value of INR6.6 billion (after first stage) is favourable, as it represents 5% of Quess’ current market capitalization of INR 118 billion. The dominance of Naukri in this sector, on the other hand, makes Monster’s development in the job search and training field worrying. Monster will need to use this capital rapidly due to the disparity in capacity and branding, and it may require further financing in the future to break Naukri’s monopoly. As a result, we consider this a significant execution risk. We haven’t factored this into our Quess value yet.

Outlook

We applaud the new management’s efforts to address investor concerns by taking appropriate action. A re-rating should occur as cash conversion/ROE improves. Our target price assumes 23x FY23E EPS. Continue to buy.

moneycontrol.com is the source for this information.


23 November 2021

Quess Corp invests Rs4 crore to boost its stake in Stellarslog Technovation to 49 percent.

Quess Corp Limited has invested Rs4 crore to enhance its equity holding in Stellarslog Technovation Private Limited (owner of the Taskmo digital gig platform) from 36.58 percent to 49 percent. Taskmo has remained a Quess Corp affiliate following this transaction.

“This investment will boost Quess’ footprint in the digital gig economy, enabling it to fulfil existing and new customers’ demand for flexible gig employees,” the business said in a filing on Monday.

Taskmo is a major platform in India that allows businesses to outsource activities to a distributed network of freelancers. It screens, trains, deploys, and manages gig workers using a proprietary algorithm. From FY19 to FY21, it generated Rs4.29 crore in income.

Quess Corp Ltd was trading at Rs902 per piece at roughly 10.43 a.m. on the BSE, down Rs12.3 or 1.35 percent from its previous close of Rs914.30 per piece.

IIFL is the source of this information.


14 November 2021

Quess sales is up 8%, while net profit is down by the same amount.

Quess Corp, a prominent business services provider, announced that sales increased by 8% to Rs 3228 crore in the second quarter of the current financial year, which ends on September 30, 2021, compared to the first quarter. When compared to the same quarter the previous year, revenues increased by 23%.

However, the company’s net profit fell 8% to Rs 41 crore in the second quarter, compared to Rs 45 crore in the first. The fall in net profit was attributed to a ‘Rs 35 crore unusual non-cash charge,’ according to the business.

The firm said that its net debt situation improved to Rs 68 crore in the second quarter, down from Rs 151 crore in the first quarter. A Rs 4 interim dividend has also been issued by the firm.

Quess principally provides staffing and managed outsourcing services to a number of sectors in areas such as sales & marketing, customer support, after-sales service, back-office operations, manufacturing, facilities and security management, HR & F&A operations, IT & mobility. Quess claimed to have over 400,000 people throughout India, North America, APAC, and West Asia, serving just over 3000 clients.

“We are delighted by the company’ significant growth, notably in our Workforce Management and Global Technology Solutions platforms,” stated MD & Group CEO Mr. Suraj Moraje. The performance of our Monster and QJobs companies has also piqued our interest. These results reflect our recent quarters’ strong focus on execution and transformational business changes. As we continue to develop our skills in sales, technology-led recruiting and delivery, operational savings, and cash generation, we are positive about the business picture.”

Quess shares fell by Rs 2.65 on Friday, ending the day at Rs 937 a share.

thehindubusinessline.com is the source of this information.


20 September 2021

The General Staffing segment of Quess Corp becomes the first in India to reach 2.5 lakh associates.

Quess Corp stated on Monday that its General Staffing business has crossed the 250,000 associate barrier, making it the first Indian staffing firm to do so and further solidifying the company’s position as a market leader in the staffing industry. In the last year, Quess General Staffing has added over 50,000 new employees, rising by more than 25% in a year and 285 percent in five years.

“We are both pleased and grateful to our customers, employees, and our widespread network of associates who have helped fuel our dramatic growth over the last 14 years and propelled us to become the world’s 5th largest staffing company by headcount,” said Ajit Isaac, Founder & Chairman of Quess Corp. The completion of this milestone further reinforces our commitment to giving the appropriate individuals with the right chance to work while lowering the burden of talent acquisition for businesses.”

“Despite variations in demand and supply of talent in a highly dynamic industry, Quess Staffing has grown at over 25% in the previous 12 months to achieve this new milestone,” said Lohit Bhatia, President of Workforce Management, Quess Corp. Even as we double down to ensuring Quess Staffing remains the chosen partner for clients and employees alike, our focused efforts toward establishing industry-leading digital platforms to match our physical capabilities are paying off.”

Despite the second wave of the COVID, Quess General Staffing has grown for 11 months in the last year. Over 25 percent increase in BFSI, Telecom, Manufacturing, Industries and Public Enterprises, agriculture, and IT / ITeS has boosted growth. While the FMCG/FMCD industries grew by 10% to 24% during this time, retail dropped as a result of COVID’s influence on entertainment, travel, hotel, tourism, and mall activities in various sections of the country.

Quess Corp finished at Rs934.35 per piece on the Sensex, down 3.97 percent.

IIFL is the source of this information.


16 September 2021

HDFC Securities recommends Quess Corp with a target price of Rs 952.5.

Quess Corp got a buy call from HDFC Securities with a target price of Rs 952.5. Quess Corp Ltd.’s current market price is Rs 923.95. When Quess Corp Ltd. price reaches set objective, analyst estimates it will take 2 weeks.

Quess Corp Ltd., founded in 2007, is a Mid Cap business in the Services sector with a market capitalization of Rs 13626.33 crore.

Other Services is one of Quess Corp Ltd’s primary products/revenue segments for the fiscal year ending 31-Mar-2021.

Financials

The firm reported a Consolidated Total Income of Rs 2991.76 Crore for the quarter ended June 30, 2021, down -.54 percent from the previous quarter’s Total Income of Rs 3007.86 Crore but up 23.78 percent from the same quarter last year’s Total Income of Rs 2417.01 Crore. In the most recent quarter, the company generated a net profit after tax of Rs 44.61 crore.

FII Holdings/Promoter

As of March 31, 2021, promoters owned 55.2 percent of the firm, while FIIs held 17.3 percent, DIIs 14.5 percent, and public and others 12.9 percent.

economictimes.com is the source for this information.


11 August, 2021

The net profit of Quess Corp has increased by 22% over the previous year.

Quess Corp, a Bengaluru-based employment agency, reported a consolidated profit of Rs 44.63 crore in the first quarter of fiscal year 2022 (FY 2022), up 22.4 percent from Rs 36.45 crore the previous year.

Quess Corp offers a variety of technology-assisted staffing and managed outsourcing solutions. It employs over 369,000 people across India, North America, Asia, and the Middle East, and serves over 3,000 clients.

The profit in the most recent quarter was a significant improvement above the deficit of Rs 58.27 crore in the previous quarter.

In Q1-FY 2022, Quess reported consolidated income from operations of Rs 2,986.9 crore, up 24% from Rs 2,409.4 crore in June the previous year, but down 0.6 percent from Rs 3,004.5 crore in March 2021.

“As we stay firmly focused on attaining a ROE (return on equity) of 20%, our continued investments in verticalised skills, technology, and operational improvements will continue to propel our momentum,” Moraje added.

Its consolidated EBITDA (operating profit) of Rs 80.18 crore was up from Rs 39.92 crore in June of the previous year. Due to provisioning, the business recorded a loss of Rs 30.55 crore in the March quarter.

Quess Corp’s standalone profit of Rs 41.75 crore in Q1-FY2022, compared to a profit of barely Rs 9.8 lakh in the June 2020 quarter, was approximately 26 times greater.

Quess Corp made a standalone loss of Rs 105.13 crore in the March 2021 quarter. The company stated in its notes to accounts that it had taken adjustments in the March quarter due to delays in some activities.

The business stated on an analyst call on August 6 that the B2G (Business-to-Government) segment is projected to suffer a setback, and that it plans to cancel old government contracts. Further provisioning would not be necessary in this case, according to Quess.

According to a Sharekhan article dated June 4, 2021, the corporation has chosen not to join into any new government contracts in the foreseeable future.

The business recorded standalone income from operations of Rs 2,125 crore, up 25.3 percent from Rs 1,696 crore the previous year. On a quarterly basis, it was still 0.53 percent lower than the March quarter’s Rs 2,113.7 crore.

The second wave, according to the Sharekhan article, would damage Quess’ companies such as Digicare (its after-sales service for portable gadgets), Excelus (which provides skill development and training), and Monster India (Quess’ job listings firm).

yourstory.com is the source for this information.


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