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Quess Corp Appoints Lohit Bhatia as Group CEO; Approves New 52.5 Lakh RSU Stock Plan
Quess Corp has announced a leadership transition with Mr. Lohit Bhatia appointed as the Group CEO and Executive Director effective June 01, 2026, succeeding Mr. Guruprasad Srinivasan. The Board also approved the Quess Stock Ownership Plan 2026 (QSOP 2026), which involves the grant of 52.5 lakh performance-oriented Restricted Stock Units (RSUs). This new plan represents 3.52% of the company's share capital, though the fresh dilution is limited to 2.3% as 18.23 lakh units are being redeployed from the older 2020 plan. Vesting of these units is strictly tied to performance metrics including Revenue, EBITDA, and Operating Cash Flow.
Key Highlights
Mr. Lohit Bhatia appointed as Group CEO for a 3-year term starting June 01, 2026.
Introduction of QSOP 2026 covering 52,50,000 RSUs, equivalent to 3.52% of paid-up capital.
Net additional equity dilution capped at 2.3% after redeploying 1.22% from the 2020 plan.
RSU vesting is linked to specific financial targets: Revenue, EBITDA, and Operating Cash Flow.
Outgoing Director Guruprasad Srinivasan to transition into a strategic advisory role post-May 2026.
💼 Action for Investors
Investors should view the internal promotion of a long-term veteran like Lohit Bhatia as a sign of stability in succession planning. While the new stock plan involves some dilution, its strict performance-linked vesting criteria aligns management interests with shareholder value.
Quess Corp Appoints Lohit Bhatia as Group CEO; Approves New 5.25 Million RSU Stock Plan
Quess Corp has announced a structured leadership transition with Lohit Bhatia appointed as Group CEO effective June 1, 2026, succeeding Guruprasad Srinivasan. To drive performance, the board approved the Quess Stock Ownership Plan 2026 (QSOP 2026) covering 52.50 lakh RSUs, which represents 3.52% of the company's share capital. This new plan involves a net additional dilution of 2.3% as it incorporates 18.23 lakh unused units from the previous 2020 plan. Vesting of these units is strictly tied to achieving specific Revenue, EBITDA, and Operating Cash Flow targets.
Key Highlights
Lohit Bhatia appointed as Executive Director and Group CEO for a 3-year term starting June 1, 2026
New QSOP 2026 plan approved for 52,50,000 performance-oriented RSUs, representing 3.52% of share capital
Maximum additional equity dilution for shareholders capped at 2.3% under the new incentive scheme
Vesting criteria linked to three key financial metrics: Revenue, EBITDA, and Operating Cash Flow
Outgoing CEO Guruprasad Srinivasan to transition into a strategic consultancy and advisory role
💼 Action for Investors
The planned succession and performance-linked incentive structure are positive signs of corporate governance and alignment with shareholder interests. Investors should view the internal promotion of a veteran leader as a move for stability and continued growth in the staffing business.
Quess Corp Q3 FY26: Record EBITDA of ₹80 Cr; Interim Dividend of ₹5/share Declared
Quess Corp reported a steady Q3 FY26 with revenue growing 3% QoQ to ₹3,930 crores and a record EBITDA of ₹80 crores, up 28% YoY. The company achieved significant margin expansion in its Professional Staffing segment to an all-time high of 12.5%, while General Staffing remained stable despite seasonal churn. A ₹5 per share interim dividend was announced, supported by strong operating cash flow conversion of 92% of EBITDA. Management transitions are now complete with Lohit Bhatia elevated to CEO and Neeraj Jain joining as CFO.
Key Highlights
Consolidated EBITDA reached a quarterly milestone of ₹80 crores, up 28% YoY with margins expanding to 2.03%.
Adjusted PAT rose 29% YoY to ₹62 crores, excluding a ₹7 crore exceptional item related to Labour Code implementation.
Professional Staffing segment achieved record EBITDA margins of 12.5%, with GCCs now accounting for 72% of headcount.
Board approved an interim dividend of ₹5 per share, reflecting strong cash flow and balance sheet strength.
Operating cash flow conversion remained robust at 92% of EBITDA, with average DSO improving to 24 days.
💼 Action for Investors
Investors should take note of the structural margin improvement in the Professional Staffing segment and the healthy dividend payout. The stock remains a key play on India's formalization, though monitoring the long-term impact of the new Labour Code on headcount is advised.
Quess Corp Receives Income Tax Demand Order of Rs 159.92 Crore for AY 2022-23
Quess Corp Limited has received a final assessment order from the Income Tax Department for Assessment Year 2022-23, resulting in a demand of Rs 159.92 crore. The demand primarily arises from disallowances related to Section 80JJAA deductions and certain expense claims. The company noted that these adjustments are consistent with those made for FY 2016-17 to FY 2020-21, which are currently being contested before the Income Tax Tribunal. Quess Corp intends to vigorously appeal the order, maintaining that its tax positions are legally defensible.
Key Highlights
Income Tax Department issued a demand of Rs 159.92 crore for Assessment Year 2022-23.
Major disallowances involve deductions under Section 80JJAA and specific business expenses.
The order follows a pattern of adjustments previously made for the period FY 2016-17 to FY 2020-21.
Company is already contesting similar historical demands at the Income Tax Tribunal level.
Management plans to file a fresh appeal and believes the position is supported by judicial precedents.
💼 Action for Investors
Investors should monitor the outcome of the ongoing Income Tax Tribunal cases for previous years, as they will likely determine the final liability for this new demand. While the amount is significant, the company's decision to contest suggests no immediate cash outflow until the appeal process concludes.
Quess Corp Declares Rs 5 Interim Dividend; Sets Feb 6, 2026, as Record Date
Quess Corp Limited has declared an interim dividend of Rs 5 per equity share (50% of face value) for the Financial Year 2025-26. The company has fixed February 6, 2026, as the record date to identify eligible shareholders for this payout. The dividend is scheduled to be paid on or before February 16, 2026. Additionally, the company has provided detailed instructions regarding Tax Deduction at Source (TDS) for both resident and non-resident shareholders.
Key Highlights
Interim dividend of Rs 5 per equity share declared for FY 2025-26
Record date for dividend entitlement is Friday, February 6, 2026
Payment to be completed on or before February 16, 2026
Standard TDS of 10% for resident shareholders with valid PAN; 20% for those without
Deadline for submitting tax exemption documents (Form 15G/15H) is February 7, 2026
💼 Action for Investors
Eligible shareholders should ensure their PAN and bank account details are updated in their demat accounts and submit tax exemption forms by Feb 7 to minimize tax outflow.
Quess Corp Q3 FY26: EBITDA Grows 28% YoY to ₹80 Cr; Declares ₹5 Interim Dividend
Quess Corp reported a strong Q3 FY26 with EBITDA reaching a milestone of ₹80 crore, a 28% YoY increase, despite a slight 2% YoY dip in revenue to ₹3,930 crore. The company's focus on high-margin segments paid off, with Professional Staffing EBITDA growing 42% YoY and margins hitting 12.5%. Adjusted PAT rose 29% YoY to ₹62 crore, and the Board has rewarded shareholders with an interim dividend of ₹5 per share. The company maintains a robust net cash position of ₹325 crore with high cash conversion efficiency.
Key Highlights
EBITDA reached ₹80 Cr with margins expanding 47bps YoY to 2.03%.
Professional Staffing segment delivered 42% YoY EBITDA growth with 12.5% margins.
Board approved an interim dividend of ₹5 per share; Adjusted EPS grew 29% YoY to ₹4.1.
Maintained a strong balance sheet with net cash of ₹325 Cr and 92% EBITDA to OCF conversion.
Total headcount remains high at 4,83,503, with GCCs contributing 72% of Professional Staffing headcount.
💼 Action for Investors
Investors should view the margin expansion and growth in high-margin Professional Staffing and GCC services as a positive structural shift. The ₹5 interim dividend provides an immediate yield benefit while the company continues to improve its profitability profile.
Quess Corp Q3 EBITDA Grows 28% YoY to ₹80 Cr; Announces ₹5 Interim Dividend
Quess Corp reported a robust 28% YoY growth in EBITDA to ₹80 crore for Q3 FY26, despite a slight 2% YoY dip in total revenue to ₹3,930 crore. The company's profitability improved significantly with Adjusted PAT rising 29% YoY to ₹62 crore, supported by high-margin segments like Professional Staffing and Overseas Business. The Board has declared an interim dividend of ₹5 per share, reflecting a sustainable payout policy. Management expects to achieve a 20% ROE by the end of FY26, driven by continued momentum in tech-led staffing and manufacturing.
Key Highlights
Reported EBITDA increased by 28% YoY to ₹80 crore with margins expanding by 47 bps to 2.03%
Adjusted PAT grew by 29% YoY to ₹62 crore, resulting in an Adjusted EPS of ₹4.1 per share
Professional Staffing segment saw 42% YoY EBITDA growth with double-digit margins of 12.5%
Board approved an interim dividend of ₹5 per share and targets a ~20% ROE for FY26
General Staffing added 4k+ headcount in Manufacturing and Automation during the quarter
💼 Action for Investors
Investors should take note of the significant margin expansion and the healthy interim dividend as signs of improved operational efficiency. The shift towards high-margin professional staffing and GCC-led growth provides a positive outlook for the stock.
Quess Corp Declares ₹5 Interim Dividend; Q3 Net Profit Rises to ₹550.94 Million
Quess Corp reported a consolidated net profit of ₹550.94 million for Q3 FY26, an increase from ₹417.25 million in the same period last year. The Board declared an interim dividend of ₹5 per equity share (50% of face value), with the record date set for February 06, 2026. While profits grew, revenue from operations saw a slight year-on-year decline to ₹39,297.08 million. Investors should note that auditors issued a qualified opinion regarding disputed tax deductions and highlighted ongoing provident fund litigation.
Key Highlights
Declared an interim dividend of ₹5 per equity share (50% of face value) for FY 2025-26.
Consolidated net profit for Q3 FY26 rose to ₹550.94 million from ₹417.25 million YoY.
Revenue from operations for the quarter stood at ₹39,297.08 million compared to ₹40,191.28 million YoY.
Auditors issued a qualified conclusion due to uncertainties surrounding disputed tax deductions.
Nine-month FY26 profit reached ₹1,578.52 million, up from ₹1,413.35 million in the previous year.
💼 Action for Investors
Investors may find the dividend and profit growth attractive, but should monitor the legal and tax uncertainties highlighted by the auditors. To be eligible for the ₹5 dividend, shares must be held by the record date of February 06, 2026.
Quess Corp Declares Rs 5 Interim Dividend; Q3 Net Profit Rises to Rs 550.94 Million
Quess Corp has declared an interim dividend of Rs 5 per share (50% of face value) for FY 2025-26, with the record date set for February 6, 2026. The company reported a consolidated net profit of Rs 550.94 million for Q3 FY26, up from Rs 417.25 million in the same quarter last year. Revenue from operations remained stable at Rs 39,297.08 million. However, the auditors have issued a qualified opinion concerning ongoing tax deduction disputes and provident fund litigation.
Key Highlights
Declared an interim dividend of Rs 5 per equity share with a face value of Rs 10.
Consolidated net profit for Q3 FY26 increased to Rs 550.94 million from Rs 417.25 million YoY.
Revenue from operations for the quarter ended December 31, 2025, was Rs 39,297.08 million.
Record date for dividend eligibility is February 6, 2026, with payment by February 16, 2026.
Auditors raised a qualified conclusion regarding disputed tax deductions and pending PF litigation.
💼 Action for Investors
Investors should benefit from the dividend payout and improved profitability, but should remain cautious regarding the legal and tax uncertainties highlighted by the auditors.
Quess Corp Q3 PAT Rises 32% YoY to ₹550.9M; Declares ₹5 Per Share Interim Dividend
Quess Corp reported a consolidated net profit of ₹550.94 million for the quarter ended December 31, 2025, marking a 32% increase from ₹417.25 million in the previous year's corresponding quarter. While revenue from operations saw a marginal decline of 2.2% YoY to ₹39,297.08 million, the company's profitability improved significantly. The Board has declared an interim dividend of ₹5 per equity share, representing a 50% payout on the face value. Investors should note that auditors maintained a qualified opinion regarding ongoing tax deduction disputes and provident fund litigation.
Key Highlights
Consolidated Net Profit increased to ₹550.94 million in Q3 FY26 from ₹417.25 million in Q3 FY25.
Revenue from operations stood at ₹39,297.08 million, a slight decrease from ₹40,191.28 million YoY.
Declared an interim dividend of ₹5 per equity share with a record date of February 06, 2026.
Total comprehensive income for the quarter rose to ₹510.96 million versus ₹288.33 million in the same period last year.
Auditors issued a qualified conclusion due to uncertainties surrounding Section 80JJAA tax deductions and PF demands.
💼 Action for Investors
Investors can benefit from the ₹5 per share dividend by holding the stock before the February 6 record date, but should monitor the legal resolution of the tax and PF disputes mentioned in the auditor's report.
Quess Corp Receives Adverse DRP Order for FY 2021-22 Income Tax Matter
Quess Corp has received an order from the Dispute Resolution Panel (DRP) regarding an income tax dispute for the Financial Year 2021-22. The DRP directions align with previous tax adjustments made for FY 2017-18 through FY 2020-21, which the company is already contesting before the Tax Tribunal. While the exact tax liability is yet to be quantified by the Deputy Commissioner of Income Tax (DCIT), the company intends to vigorously appeal the final assessment. This development indicates a continuation of multi-year tax litigation that could impact future contingent liabilities.
Key Highlights
DRP order dated December 23, 2025, issued directions for FY 2021-22 tax assessment.
Directions are consistent with adjustments made for five consecutive years (FY 2017-18 to FY 2021-22).
DCIT is yet to quantify the specific monetary tax liability for the period.
Company plans to file an appeal against the final assessment order once received.
Quess Corp will reassess and disclose revised contingent liabilities following the DCIT's final quantification.
💼 Action for Investors
Investors should monitor the upcoming DCIT order for the specific tax demand amount to evaluate the impact on the company's cash flows. The outcome of pending appeals for previous financial years at the Tax Tribunal remains a critical catalyst for resolving these liabilities.
Quess Corp appoints Lohit Bhatia as CEO, effective Jan 1, 2026
Quess Corp has appointed Lohit Bhatia as CEO, effective January 1, 2026. Bhatia previously served as President - India and Global Operations. He scaled the Staffing business from 13,000 to over 480,000 associates. International expansion now contributes nearly 20% of the company’s EBITDA.
Key Highlights
Lohit Bhatia elevated to CEO effective January 1, 2026
Scaled Staffing business from 13,000 to over 480,000 associates
International operations contribute nearly 20% of company EBITDA
Quess Corp has approximately 4,83,115 employees across 8 countries
Quess serves over 3,300 clients
💼 Action for Investors
Investors should monitor the impact of the new CEO's leadership on the company's strategic vision and financial performance. Keep an eye on the company's progress in digitization and margin expansion.