Quess Corp is India’s largest staffing company with presence a few international locations as well. Post its listing in 2016 the company has been pursuing inorganic growth options which has boosted topline but profits net of funding costs are have generally stagnated. However with the assimilation of these acquisitions mor or less completed management is targeting 20 % growth rate for the next 2-3 years. Return ratios are likely to move up due to operating leverage and higher productivity. We have an neutral weight rating despite good business momentum due to patchy near term performance and complex business model with too many moving parts. Long term prospects are good given rise in start-ups and MNCs expanding their operations in India and demand from software sector is also strong – 27-08-2021 Price: 837.45 Rating: Neutral Weight Recommendation: Hold
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