Quess Corp Ltd (BOM:539978)
₹ 675 -25.15 (-3.59%) Market Cap: 100.32 Bil Enterprise Value: 101.00 Bil PE Ratio: 28.55 PB Ratio: 3.43 GF Score: 91/100
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Q4 2024 Quess Corp Ltd Earnings Call Transcript

May 10, 2024 / 05:30AM GMT
Release Date Price: ₹641.35 (+2.33%)

Key Points

Positve
  • Quess Corp Ltd (BOM:539978) achieved its highest-ever quarterly and annual EBITDA, with a 28% year-on-year growth in Q4.
  • The company recorded a revenue growth of 11% year-on-year, reaching INR 19,100 crores for FY24.
  • EBITDA margins expanded by 80 basis points since Q2 FY23, closing the quarter at 4%.
  • The company added 149 new contracts in Q4, with an Annual Contract Value (ACV) of INR 232 crores.
  • Quess Corp Ltd declared a final dividend of INR 6 per share, totaling INR 10 per share for the full year.
Negative
  • The IT staffing segment faced softness, with a decline in aggregate headcount of top 5 IT companies by 11,200 in Q4 and 69,000 in FY24.
  • Despite growth in revenue, the EBITDA margin for the Workforce Management platform remained flat at 2.6% throughout the year.
  • The Product-led business segment saw a revenue decline of 8% quarter-on-quarter, despite foundit achieving operational breakeven.
  • The company faces competitive pricing pressure in the Workforce Management segment, impacting profitability.
  • The effective tax rate for FY25 is expected to increase to 10-11%, up from 5% in FY24.
Operator

Ladies and gentlemen, good day and welcome to Quess Corp Limited Q4 FY24 earnings conference call, hosted by IIFL Securities Limited. (Operator Instructions)

Please note that this conference is being recorded. I now hand the conference over to Mr. Balaji Subramanian from IIFL Securities Limited. Thank you, and over to you, sir.

Balaji Subramanian
IIFL Securities - Analyst

Ladies and gentlemen, good morning, and thank you for joining us on the post-results conference call for Quess Corp. It's my pleasure to introduce the senior management team of Quess who are here with us today to discuss the results. We have Mr. Guruprasad Srinivasan, ED and Group CEO; Mr. Kamal Pal Hoda, Group CFO; Mr. Kushal Maheshwari, Head, Investor Relations and Strategic Finance; Mr. Lohit Bhatia, President, Workforce Management; Mr. Pinaki Kar, President, Global Technology Solutions; Mr. Anand Sundar Raj, President, OAM; and Mr. Sekhar Garisa, President, Product-led Businesses.

We will begin the call with opening remarks by the management team, and thereafter, we

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