Quess Corp - Human Resources Company

himanshu.dugar · October 6, 2023, 7:23am

Met Quess Corp during a recent investor conference.
KTA:

GS business should continue to grow strongly as demand stays robust ahead of festival season.
Specialised staffing biz depends completely on how & when IT bounces back, unfortunately no clear signs yet.
Foundit should breakeven this year at 50-60cr quarterly revenue. If that does not happen, fine with diluting stake in the biz.

US staffing is completely specialised staffing, have spent close to 1yr there and processed 6-7 ppl. Notes that the scale up seems to be slower than expected, Expect to breakeven by 4Q.

80JJAA - This issue is going to take years to resolve. after tribunal, either party will go to HC, then SC.

cannygui · February 17, 2024, 1:25am

Akshay_Khandelwal · February 19, 2024, 4:58am

Given the information that has come out on the demerger, is it possible to know what would happen to the existing share holders of Allsec ?

cannygui · February 19, 2024, 6:40am

Baratam_Srinivas · May 10, 2024, 9:02am

Is there any value creation in their demerger? if any one is tracking, please share your view on it

ajayt001 · August 20, 2024, 1:34am

Yes, it has an IT business under it whose revenue and net profits should be valued at much higher multiples than workforce management business

Anandicwa · December 7, 2024, 8:59pm

very informative video by SOIC on company

Anandicwa · December 17, 2024, 8:41pm

Initiating coverage report on Corp by Antique with target of Rs 1000 (25 PE on FY 27 EPS)

no discussion on impact of Tax issue 80JJAA which can impact margin by 20%.

Antique_Initiating_Coverage_on_Quess_Corp,_with_50%_UPSIDE_Improving.pdf (938.1 KB)

Arka · January 30, 2025, 6:54am

Quess Corp | Financial Results

Quess Corp | Management Interview

Q4 will be slightly muted
Will end the year with double-digit revenue & EBITDA growth’,
Expect to get the final regulatory approval for the demerger in Q4

Watch Management interview - https://youtu.be/CsjhfIKJ6f0

Arka · February 1, 2025, 5:52am

Quess Corp | Fairbridge Capital (Mauritius) Limited

Fairbridge Capital (Mauritius) Limited, Promoter (A subsidiary of Fairfax Financial Holdings Limited) has purchased ~3.77L equity shares of the Company

EDIT:

Also acquired by Isaac

Arka · February 4, 2025, 7:54pm

Quess Corp | KYC

Watch the interesting video here

ashwind · April 1, 2025, 1:58pm

Intimation of Record Date for the demerger of the Company i.e. Tuesday, 15th April, 2025

Exchange Notice Link

ashwind · April 14, 2025, 4:21pm

For the purpose of determining the cost of acquisition of equity shares of the Quess, Digitide and Bluspring (post demerger), the apportionate cost of acquisition was published by Quess. It will be in the following manner:

Exchange Link - Cost of Acquisition Notification

happynadh · April 17, 2025, 8:41am

Any views on how to calculate the value of the new Quess Corp??

Ajitesh_Garg · May 27, 2025, 6:38pm

Guidance as per Q4FY25 Call

ashwind · June 9, 2025, 4:22pm

Listing date announced for Digitide Solutions Limited and Bluspring Enterprises Limited.

Effective from Wednesday, June 11, 2025, the equity shares of Digitide Solutions Limited and Bluspring Enterprises Limited shall be listed and admitted to dealings on the Exchanges.

Exchange Notification for Listing date

Gaurav_Catalyst · June 11, 2025, 4:38am

Wondering if there is any management presentation or issued document or concall transcript in which we get clarity on financial numbers (like revenue, EBIDTA, PAT, debt etc.) for three separate entities to evaluate at standalone level each of them - as each is separately listed.

Thanks in advance, if any fellow VP member can help on this plz.

PRANJAL_SINGH · June 11, 2025, 11:39am

Bluspring financial numbers & business info - https://bluspring.com/wp-content/uploads/2025/05/Information-Memorandum-1.pdf

Digitide - https://digitide.com/wp-content/uploads/2025/06/Information-Memorandum.pdf

TLDR - Bluspring was loss making as of 11 months in 2025 (Feb-Dec). Digitide had a PAT of 130 cr during the same period.

ashwind · June 12, 2025, 4:09am

From the Bluspring financial numbers & business info - https://bluspring.com/wp-content/uploads/2025/05/Information-Memorandum-1.pdf, I derived some stats that needs more deep diving. E.g.

Goodwill in Assets of 386 Cr, pretty high figure of almost 25% of balance sheet, past aquisitions are coming home to roost?
Receivables of 491Cr (billed) & 310Cr (unbilled) = 801Cr seems to be very huge compared to only 35Cr of Payables. Aging of receivables need to be confirmed.
107Cr borrowing might be fine, but other financial liabilities of 327Cr seems to be huge. What are these?
Goodwill writeoff 150Cr is huge and resulted in loss
Due to receivables position operating cash flow was negative 83Cr

Assets:

Liabilities:

Cashflow:

I am not saying these are indicators of RED flags, but need more explanation on why these figures are like this. Hoping a management call after Q4 results will answer many of these.

Sathwiksk · June 12, 2025, 4:10am

Here’s a comparative analysis of Bluspring Enterprises Limited and Digitide Solutions Limited based on their FY 2023-24 financials:

Key Financial Metrics Comparison

Metric	Bluspring Enterprises	Digitide Solutions
Revenue (₹ Mn)	26,820.66	25,362.06
Profit After Tax (₹ Mn)	-1,558.78	1,392.26
EPS (₹)	-10.24	8.20
Net Asset Value (₹ Mn)	-1,268.25	8,363.93

Visual Comparison

Insights:

Revenue: Both companies have similar revenue levels, with Bluspring slightly ahead.
Profitability: Digitide is profitable, while Bluspring reported a significant loss.
EPS: Digitide has a positive EPS, indicating earnings per share, whereas Bluspring has a negative EPS.
Net Asset Value: Digitide has a strong NAV, while Bluspring shows a negative NAV, indicating potential financial stress.