Quess Corp Limited has announced the allotment of 14,918 equity shares under its employee stock ownership plan to RSU holders. The Nomination and Remuneration Committee of the company approved this allotment on February 23, 2026, under the Quess Stock Ownership Plan-2020 (QSOP 2020).

Share Allotment Details

The company has allotted 14,918 equity shares of Rs. 10/- each to RSU holders who exercised their options under the QSOP 2020. These newly allotted equity shares will rank pari-passu with the existing equity shares of the company in all respects, providing equal rights and privileges to the holders.

Impact on Share Capital

The allotment has resulted in an increase in the company's paid-up share capital. The following table shows the change in share capital structure:

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Additionally, the information required under Regulation 10(c) of the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, for the issue of shares under the stock option plan is being submitted with the application for listing and trading of the allotted equity shares.

Corporate Communication

The disclosure was signed by Kundan K Lal, Company Secretary & Compliance Officer, on behalf of Guess Corp Limited. The company has also made this information available on its official website at www.guesscorp.com for stakeholder reference.

Quess Corp Limited has received a final income tax assessment order for Assessment Year 2022-23, resulting in a demand of ₹159.92 crore from the Income Tax Department. The company disclosed this development through a regulatory filing under SEBI Listing Regulations on February 01, 2026.

Assessment Order Details

The final assessment and demand orders were dated January 24, 2026, and received by the company on January 31, 2026 at 04:33 PM via email. The orders were issued by the Deputy Commissioner of Income Tax, Central Circle 2(1), under the provisions of Sections 143(3) read with Section 144C(13) and Section 156 of the Income Tax Act, 1961.

Nature of Disallowances

According to the company's preliminary review, the major disallowances in the assessment order relate to:

• Deduction under Section 80JAA of the Income Tax Act
• Disallowance of certain expenses claimed by the company

The assessment order follows a similar pattern to adjustments made in previous financial years from 2016-17 to 2020-21, against which the company is currently contesting before the Income Tax Tribunal.

Company's Response Strategy

Quess Corp has indicated its intention to challenge the assessment order through appropriate legal channels. The company's management stated that it reserves the right to file an appeal and intends to vigorously contest its position based on:

• Interpretative stance of relevant IT Act sections
• Judicial precedents supporting its position
• Strong legal advice and court decisions

The management emphasized that it believes its position is legally defensible and will take appropriate steps to challenge the assessment order with the appropriate forum. The company continues to rely on legal precedents and various court decisions to support its stance on the disputed matters.