Quess Corp Limited , India's largest and a global leader in staffing and workforce solutions, announced its Q4 and FY26 financial results on May 4, 2026, following a Board meeting held on the same date. The company delivered consolidated revenue from operations of ₹15,305 cr for FY26, up 2% year-on-year, while EBITDA rose 19% YoY to ₹312 cr with a margin improvement of 29 basis points on a YoY basis. Adjusted PAT stood at ₹230 cr, up 10% YoY, with a return on equity of 20%. The Board declared a total dividend of ₹6 per share, comprising a special interim dividend of ₹3 per share to mark the company's tenth anniversary of listing and a recommended final dividend of ₹3 per share, subject to shareholder approval at the 19th Annual General Meeting.

Financial Performance

The company reported significant improvement across key financial metrics for both Q4 FY26 and the full year. For Q4 FY26, revenue stood at ₹3,892 cr, up 6% YoY, while EBITDA reached ₹86 cr, up 28% YoY and 8% QoQ, with an EBITDA margin of 2.2%—an increase of 37 basis points YoY and 19 basis points QoQ. Adjusted PAT for Q4 FY26 was ₹64 cr, up 2% YoY, with an Adjusted EPS of ₹4.3 per share. On a quarterly basis, Q4 PBT came in at INR 684 million versus INR 591 million in the same period last year, while Q4 consolidated net profit stood at INR 641 million compared to a loss of INR 955 million in the prior year period. It is noteworthy that the previous quarter carried an exceptional item of INR 1.58 billion, which had weighed on reported profitability. On a full-year basis, consolidated revenue from operations was INR 1,53,051.87 million, profit after tax reached INR 2,222.01 million compared to INR 458.89 million in FY25, and basic EPS for FY26 was INR 14.87 while diluted EPS was INR 14.85. Total comprehensive income for FY26 stood at INR 2,421.45 million versus INR 380.54 million in the prior year. Total assets as of March 31, 2026 were INR 30,391.12 million, up from INR 28,118.28 million a year earlier, and total equity increased to INR 11,664.64 million from INR 10,848.51 million.

The following table summarises the key quarterly and annual performance metrics:

*Excluding one-time exceptional items

The table below captures the key reported Q4 profitability metrics:

CEO Commentary

Commenting on the results, CEO Mr. Lohit Bhatia said, "I am pleased to report our FY26 results. We closed the year strong with EBITDA of ₹312 crore, up by 19% YoY and Adj. PAT of ₹230 crore, up by 10% YoY. The Board has approved a special interim dividend of ₹3 per share on account of 10 years of IPO and a final dividend of ₹3 per share, staying true to our commitment to shareholders in line with Quess' guiding principles. Our EBITDA growth was driven by Professional Staffing and Overseas Business. In the Professional Staffing business, a strong 43% YoY increase was delivered and a record EBITDA margin of approximately 12% on the back of sustained GCC hiring momentum. On the global front, strong performances from UAE, Malaysia, and the Philippines drove our Overseas Business to close the year with 21% EBITDA growth. Despite regulatory and global headwinds, our Staffing Solutions business added around 26,000 to its headcount, a testament to our resilient, all-weather business model."

Segmental Highlights

The company's three key business segments each reported distinct performance trends for FY26. The following table captures the key operational highlights across segments:

Dividend Declaration

The Board declared a special interim dividend of ₹3 per equity share, representing 30% of the face value of INR 10 each, to mark the tenth anniversary of the company's listing. The record date for determining eligibility has been fixed as May 8, 2026, with payment scheduled on or before May 21, 2026. Additionally, the Board recommended a final dividend of ₹3 per equity share for FY26, subject to shareholder approval at the ensuing 19th Annual General Meeting. The total dividend payout for the special interim dividend aggregates to INR 447.99 million.

Auditor Qualification and Tax Matters

The statutory auditors, Deloitte Haskins & Sells LLP, issued a qualified opinion on the audited financial results for both standalone and consolidated statements. The qualification relates to income tax matters where certain deductions claimed by the company—primarily under Section 80JJAA of the Income Tax Act and depreciation on goodwill—have been disallowed by tax authorities. The company has challenged these disallowances in judicial forums and, based on external legal opinions, believes the deductions will be accepted upon ultimate resolution. Pending resolution, the company has assessed INR 3,879.94 million as contingent liabilities towards these tax demands. Separately, the Regional PF Commissioner passed an order demanding INR 716.56 million regarding provident fund contributions for the period April 2018 to March 2019. The company has filed an appeal before the Central Government Industrial Tribunal, which has granted a complete waiver from pre-deposit and stayed the operation of the EPFO order, with the next hearing scheduled for May 14, 2026.

Board, Governance and Other Changes

In significant board changes, Mr. Anish Thurthi (DIN: 08713000) was appointed as an Additional Director in the category of Non-Executive, Non-Independent Director effective June 1, 2026, until the 19th AGM, subject to shareholder approval. Mr. Thurthi brings over 20 years of experience in investment management, mergers and acquisitions, and financial advisory. Concurrently, Mr. Chandran Ratnaswami (DIN: 00109215) resigned as Non-Executive Director effective from the close of business hours on May 31, 2026, citing advancing age. The Board also announced the appointment of KFin Technologies Limited as its new Registrar and Share Transfer Agent, replacing MUFG Intime India Private Limited, with the effective date to be communicated in due course.

Quess Corp Limited has received a significant income tax refund order of Rs 42.24 crore from the tax authorities for the Financial Year 2023-24. The refund was processed under Section 154 read with Section 143(1) of the Income-tax Act, 1961.

Refund Details

The income tax refund order was issued by the Office of the Deputy Commissioner of Income Tax, Central Circle 2(1), Bangalore, dated April 27, 2026, and received by the company on April 28, 2026. The total refund amount comprises the principal refund along with interest component.

Regulatory Compliance

The company has made this disclosure pursuant to Regulation 30 read with Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure follows the requirements under the SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Business Impact Assessment

According to the company's regulatory filing, the income tax refund order will have no impact on the financial, operational, or other activities of Quess Corp Limited. The company has confirmed that no violations or contraventions were committed or alleged to be committed in relation to this matter.

Authority Details

The refund order was issued under the provisions of the Income-tax Act, 1961, specifically under Section 154 read with Section 143(1). The issuing authority, Office of the Deputy Commissioner of Income Tax, Central Circle 2(1), Bangalore, processed the refund for the assessment year corresponding to Financial Year 2023-24.