Quess Corp Limited, a leading business services provider, has announced a significant change in its top management. Chief Financial Officer (CFO) Sushanth Pai has tendered his resignation from his position as CFO and Key Managerial Personnel, citing urgent family commitments following a recent bereavement.

Resignation Details

The company disclosed this development in a regulatory filing under Regulation 30 of the SEBI Listing Regulations. Key details of the resignation are as follows:

Official Statement

In his resignation letter addressed to the Board of Directors, Pai expressed his gratitude to the management and the board for the trust and opportunities provided during his tenure. He also extended his wishes for the company's continued growth and success in future endeavors.

Company's Response

Quess Corp acknowledged Pai's resignation in its regulatory filing, stating that the information would be available on the company's official website. The company has not yet announced a successor for the CFO position.

About Quess Corp

Quess Corp Limited is a prominent business services provider headquartered in Bengaluru, Karnataka. The company offers a wide range of services across various sectors, contributing significantly to India's formal job market.

This leadership change comes at a time when many companies are focusing on maintaining stability in their top management. The impact of Pai's departure on Quess Corp's financial strategy and operations remains to be seen as the company transitions to new financial leadership.

Investors and stakeholders will likely be watching closely for any announcements regarding Pai's successor and any potential shifts in the company's financial direction in the coming weeks.

Quess Corp , a leading staffing and workforce solutions provider, has set ambitious financial targets for FY26 and is experiencing significant growth in smaller cities, according to recent company statements.

Financial Targets and Business Restructuring

Quess Corp is aiming for an Ebitda of Rs 350.00 crore and a blended margin of 2.00% by FY26. CEO Guruprasad Srinivasan expressed the company's goal to achieve a return on equity (ROE) close to 20.00%. These targets come after the company's recent demerger, completed in June, which has resulted in a simplified structure comprising four main business lines:

1. General staffing
2. India professional staffing
3. International business
4. Incubated digital platform

The restructuring has also left the company debt-free, positioning it for potential growth and improved financial performance.

Job Market Dynamics and Hiring Trends

Quess Corp currently boasts over 42,000 open job mandates, indicating robust hiring activity across various sectors. Key areas of growth include:

• Manufacturing
• Consumer goods
• Retail
• Telecom

Notably, nearly 37.00% of hiring is taking place in Tier 2 and Tier 3 cities. This trend is primarily driven by the expansion of e-commerce and related delivery solutions in these areas.

Global Capability Centres and IT Services

The Global Capability Centre (GCC) segment, which represents over 10.00% of India's 1,600 GCCs, is expected to grow at a rate of 20.00% year-on-year. This presents a significant opportunity for Quess Corp in the professional staffing sector.

While IT services hiring has softened, Quess Corp's exposure to this segment is limited to 15.00-16.00% of its business. The company has managed to offset this slowdown by catering to demand from non-tech companies and GCCs.

Stock Performance

Despite the positive outlook and strategic initiatives, Quess Corp's shares closed 0.94% lower at Rs 264.05 on the day of the announcement.

Conclusion

Quess Corp's strategic focus on diversifying its business lines, expanding into Tier 2 and Tier 3 cities, and targeting specific growth sectors positions the company to capitalize on evolving market trends. The ambitious financial targets for FY26 reflect the management's confidence in the company's restructured business model and its ability to navigate the dynamic job market landscape.