Slide 1: Exchange filing cover letter
May 09, 2024 BSE Limited National Stock Exchange of India Limited Floor 25, Phiroze Jeejeebhoy Towers, “Exchange Plaza”, Bandra-Kurla Complex, Dalal Street, Bandra (East), Mumbai-400001 Mumbai-400051 Security Code- 539978 NSE Symbol- QUESS Dear Sir / Madam, Sub: Investors Presentation Pursuant to Re
Slide 2: Investor Presentation Q4'FY24 & FY24
Investor Presentation Q4’FY24 & FY24 9th May 2024 1
Slide 3: Safe Harbor
Safe Harbor This presentation has been prepared by Quess Corp Limited (“Company") solely for information purposes without any regard to any specific objectives, financial situations or informational needs of any particular person. This presentation may not be copied, distributed or disseminated, dir
Slide 4: Leading domestic private sector employer with 567k+ headcount
Leading domestic private sector employer with 567k+ Headcount and 21% Revenue CAGR in last 4 years Execution of year long initiatives have resulted in best ever operating results, annual EPS up by 24% YoY Simplification of corporate structure - Announced a three way demerger and successful divestmen
Slide 5: Contents
Contents 1 Key Corporate Highlights 2 Platform-wise Updates 3 Financials 4 Company Overview 5 ESG Updates ©2023 Quess Corp Limited. All rights reserved. 4
Slide 6: Key Corporate Highlights
01 Key Corporate Highlights ©2023 Quess Corp Limited. All rights reserved. 5
Slide 7: Q4'FY24 – Financial Highlights
Q4’FY24 – Financial Highlights Figures In ₹ Cr Revenue %YoY %QoQ EBITDA %YoY %QoQ WFM 3,476 14% 1% WFM 91 6% 2% GTS 604 6% 3% GTS 113 19% 5% OAM 710 4% 2% OAM 39 29% 6% PLB 119 (4%) (8%) PLB (7) 65% 30% Consolidated Revenue 4,910 11% 1% EBITDA 195 28% 8% PAT 98 226% 54% EPS in ₹ 6.3 184% 48% Head Co
Slide 8: Q4'FY24 Financial Updates | Quarterly Trend
Q4’FY24 Financial Updates | Quarterly Trend Revenue (In ₹ Cr) EBITDA (In ₹ Cr) & margin (%) 11%Y 28% 195 181 152 154 164 4,748 4,842 4,910 4,440 4,600 3.4% 3.3% 3.5% 3.7% 4.0% Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 1% 8% PAT (In ₹ Cr) & margin (%) EPS (In ₹) 226% 184% 98 6.3 71
Slide 9: FY24 – Annual Financial Highlights
FY24 – Annual Financial Highlights Figures In ₹ Cr Revenue FY23 FY24 YoY% EBITDA FY23 FY24 YoY% WFM 11,831 13,442 14% WFM 345 351 2% GTS 2,168 2,340 8% GTS 353 425 21% OAM 2,622 2,801 7% OAM 120 141 18% PLB 538 517 (4)% PLB (95) (63) 34% Consolidated Revenue 17,158 19,100 11% EBITDA 586 694 18% PAT
Slide 10: Financial Updates | Consolidated 4 year trend
Financial Updates |Consolidated 4 year trend Revenue (In ₹ Cr) EBITDA (In ₹ Cr) & margin (%) 21% CAGR 15% CAGR 694 19,100 623 586 17,158 13,692 458 10,837 4.2% 4.6% 3.4% 3.6% FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 11% 18% PAT (In ₹ Cr) & margin (%) EPS (In ₹) 56% CAGR 69% CAGR 280 18.6 251 16.2 223
Slide 11: Platform wise Updates
02 Platform wise Updates ©2023 Quess Corp Limited. All rights reserved. 10
Slide 12: Workforce Management
Workforce Management Financial metrics Revenue (In ₹ Cr) EBITDA from operations (In ₹ Cr) 14% 6% 90 91 3,476 3,430 87 86 3,315 83 3,221 3,062 2.8% 2.6% 2.6% 2.6% 2.6% Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 1% 2% Key developments • Investment in technology and leadership to • Gen
Slide 13: Workforce Management – Operational Performance
Workforce Management – Operational Performance Associate Headcount (in ‘000) Associate: Core FTE^(Gen Staff) 17% (17)% 444 452 512 469 435 427 425 430 387 404 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 2% (1)% F&F 27 29 31 34 32 Collect & Pay - Headcount SG&A / Revenue (IT Staff) 20
Slide 14: Workforce Management – Segment wise Distribution
Workforce Management – Segment wise Distribution Segment-wise distribution 1% 2% 1% 1% 11% 5% Revenue Headcount distribution distribution 83% 96% General Staffing IT Staffing India Overseas Staffing Others General Staffing IT Staffing India Overseas Staffing Others ©2023 Quess Corp Limited. All righ
Slide 15: Workforce Management – Customer Insights
Workforce Management – Customer Insights General Staffing 1% BFSI 6% 3% Retail 24% 9% 32% Industrials Customer Top 10 Sector Telecom Concentration 52% Next 40 12% Concentration FMCG (% Revenue) Others (% Revenue) Others 24% 14% Logistics 23% IT/ITES IT Staffing (domestic) IT/ITES 8% 19% 2% 3% Indust
Slide 16: Global Technology Solutions
Global Technology Solutions Financial metrics Revenue (In ₹ Cr) EBITDA from operations (In ₹ Cr) 6% 19% 604 113 108 588 104 584 100 95 571 563 17.8% 17.8% 18.3% 18.8% 16.7% Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 3% 5% Key developments • Key revenue drivers were BFSI, Manufacturi
Slide 17: Global Technology Solutions – Operational Performance
Global Technology Solutions – Operational Performance Operating Metrics Revenue Distribution Revenue / Employee (In 000’s) 8% 6% 109 110 113 117 120 150 14% 10% 11% 11% 11% 100 14% 12% 11% 9% 50 11% 0 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 32% 31% 33% 33% 31% 3% HRO Records Processed (Allsec: In ₹ lacs) 14 %
Slide 18: Global Technology Solutions – Segment-wise distribution
Global Technology Solutions – Segment-wise distribution Diversified Across Sectors 8% 8% 3% 3% 6% 8% 7% 7% Revenue-base 8% Customer-base 53% 6% 66% 17% BFSI Ecommerce Telecom/Media Manufacturing Retail/FMCG IT/ITES Others BFSI IT/ITES Retail Industrials Telecom Others ©2023 Quess Corp Limited. All r
Slide 19: Global Technology Solutions – Customer Insights
Global Technology Solutions – Customer Insights Customer Insights (CLM and Non-voice BPO) 14% 8% 3% 3% 8% Customer Sector Concentration 50% 7% Concentration (% Revenue) (% Revenue) 36% 6% 66% Top 10 Next 40 Others BFSI Ecommerce Telecom/Media Manufacturing Retail/FMCG IT/ITES Others ©2023 Quess Corp
Slide 20: Operating Asset Management
Operating Asset Management Financial metrics Revenue (in ₹ Cr) EBITDA from operations (in ₹ Cr) 4% 29% 705 710 39 695 35 36 690 684 30 31 5.2% 5.2% 5% 5.0% 4.4% 4.5% 4% Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 2% 6% Key developments • Won 25 new contracts with ACV of 40cr. Key • M
Slide 21: Operating Asset Management – Operational Performance
Operating Asset Management – Operational Performance Associate Headcount# (in ‘000) Revenue/Headcount/Month (₹ '000) 4% (2)% 27 26 26 26 26 92 25 25 91 91 25 90 90 24 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 0% Associate to Core ratio (9)% 110 107 150 104 105 100 100 50 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 0 Q4'23 Q1
Slide 22: Operating Asset Management – Segment wise Distribution
Operating Asset Management – Segment wise Distribution Distribution 2% 9% 16% 14% By By Revenue Headcount 58% 22% 59% 19% IFMS Security Services Industrial Services Telecom Network Services IFMS Security Services Industrial Services Telecom Network Services FMS is the largest business segment Revenu
Slide 23: Operating Asset Management – Customer Insights
Operating Asset Management – Customer Insights Customer Insights (IFM + Security) 17% 12% 26% 35% Sector 15% 13% Customer Concentration Concentration 0% (% Revenue) 9% 18% 15% 39% IT/ITES Education Industrials BFSI Top 10 Next 40 Others Real Estate Telecom Healthcare & Hospitality Others Diversified
Slide 24: Product Led Business – Performance Snapshot
Product Led Business – Performance Snapshot Financial metrics Revenue (In ₹ Cr) EBITDA from operations* (In ₹ Cr) (4%) 123 143 129 126 119 -3 -6 -16 -18 -21 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 (8%) *Excluding non cash ESOP charges Key developments • Successful launch of found
Slide 25: foundit 2.0 – AI-led talent acquisition product
foundit 2.0 – AI-led talent acquisition product With access to talent on and off the market, enriched candidate profiles with smart insights, AI-powered contextual search and outreach personalized by organization, foundit 2.0 offers a comprehensive solution for recruiters to be more agile and effici
Slide 26: Product Led Business – foundit Snapshot
Product Led Business – foundit Snapshot New Search Profiles (‘000) Consumption (Mn) 51% (6)% 1,404 84 77 74 79 67 931 1,333 1,367 549 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 155% 18% Profile Updates (Mn) Job Posting (‘000s) 138% (8)% 7.2 441 355 365 439 404 4.3 5.5 3.0 3.8 Q4'23
Slide 27: Financials
03 Financials ©2023 Quess Corp Limited. All rights reserved. 26
Slide 28: Income Statement
Income Statement Particulars ( in ₹ Cr) Q4 FY24 Q4 FY23 YoY Q3 FY24 QoQ FY24 FY23 YoY Total Revenue 4,910 4,440 11% 4,842 1% 19,100 17,158 11% Reported EBITDA 195 152 28% 181 8% 694 586 18% Reported EBITDA % 3.98% 3.42% 55 bps 3.74% 24 bps 3.63% 3.41% 22 bps Depreciation & amortisation 73 76 (4)% 72
Slide 29: Balance Sheet
Balance Sheet Particulars ( in ₹ Cr) 31-Mar-21 31-Mar-22 31-Mar-23 31-Mar-24 Assets Fixed Assets 1,536 1,672 1,814 1,728 Other Non-Current Assets 595 579 795 947 Current Assets Trade Receivables & Unbilled Revenue 1,800 2,332 2,689 2,772 Cash and Cash Equivalent 614 604 613 602 Loan and other curren
Slide 30: Statement of Cashflow
Statement of Cashflow Particulars ( in ₹ Cr) 31-Mar-21 31-Mar-22 31-Mar-23 31-Mar-24 Profit for the year 74 251 223 280 Cash generated from operations 551 641 666 673 Income taxes (paid)/refund received 165 (73) (199) (144) Net cashflow from Operating Activities (A) 716 568 466 529 Cashflow from Inv
Slide 31: Segment Reporting
Segment Reporting Quarter Ended Particulars ( In ₹ Cr) Mar-23 Jun-23 Sept-23 Dec-23 Mar-24 Workforce Management Revenue 3,062 3,221 3,315 3,430 3,476 EBITDA 86 83 87 90 91 EBITDA % 2.81% 2.58% 2.63% 2.61% 2.62% Global Technology Services Revenue 571 563 584 588 604 EBITDA 95 100 104 108 113 EBITDA %
Slide 32: Company Overview
04 Company Overview ©2023 Quess Corp Limited. All rights reserved. 31
Slide 33: India's largest business services platform, driving productivity for customers
India’s largest business services platform, driving productivity for customers In-store & Industrial Operations Field Sales* Collections* & Maintenance Front End Processes Marketing Omni channel CLM & Installation & After Services* Backoffice Services Sales Services* Compliance Tech Manned & Electro
Slide 34: We lead with technology and innovation
We lead with technology and innovation Digital Hire-to-Retire Technology-led Frontline Productivity Sourcing Digital workflow management Digital sourcing via Qjobs and foundit WorQ WorkTech platform to remotely assign & monitor tasks Recruiting Digitally skilling End-to-end ATS ReQruit platform for
Slide 35: Our journey over the last 17 years
Our journey over the last 17 years Platformization Expansion 2019-2024 2014-2018 Initial growth Tech–enabled platforms Business Services • Workforce Management 2007-2013 • Operating Asset Mgmt. • Staffing • Skilling • Global Tech Solutions • Recruitment • FMS • Product-Led Businesses HR Services • S
Slide 36: Our operations are spread across synergistic platforms
Our operations are spread across synergistic platforms Workforce Management Operating Asset Management General Staffing Facilities Professional Staffing Security Industrials Overseas Staffing Telecom Global Technology Solutions Product Led Business CLM Voice White Collar Jobs Non voice BPO Blue Coll
Slide 37: An overview (I/II)
An overview (I/II) Workforce Global Technology Operating Asset Product-Led Management (WFM) Solutions (GTS) Management (OAM) Businesses (PLB) General Staffing BPM FMS Business portfolio IT Staffing HR Outsourcing Industrial Asset Mgmt. Talent Platform International Staffing InsurTech Telco Asset Mgm
Slide 38: An overview (II/II)
An overview (II/II) Workforce Management Global Technology Operating Asset Product-Led (WFM) Solutions (GTS) Management (OAM) Businesses (PLB) #1 staffing player in India One of the top BPM players in #1 operating asset mgmt. co. by #2 job board platform in India domestic market range of services Am
Slide 39: Quess Corp 3.0
Quess Corp 3.0 Simplified corporate structure Enhanced managerial focus Uniquely defined capital allocation strategy Flexibility to pursue independent strategies Clarity of investment thesis Drive strong and sustainable long-term value creation ©2023 Quess Corp Limited. All rights reserved. 38
Slide 40: Quess Corp Demerger
Quess Corp Demerger Quess Corp Limited Digitide Solutions Limited Bluspring Enterprises Limited Conneqt – General Staffing Professional Staffing Integrated Facility Industrial India CLM and India India Management Digital Consulting Services Quess Singapore IT Allsec – Terrier – APAC IT Staffing 73%
Slide 41: Mirror Shareholding
Mirror Shareholding Current Pro-forma for transaction Shareholding Pattern 56.6 43.4 56.6 43.4 56.6 43.4 56.6 43.4 Promoters Public Resulting Co 1: Resulting Co 2: RemainCo: Quess Corp Quess Corp Digitide Bluspring Entity Name BPM and Customer FMS, Industrial Services, and Workforce Management Exper
Slide 42: Value Creation
Value Creation Leverage emerging Become the largest $1Bn+ opportunities in building a staffing company revenue BPM and new India globally customer experience company Scale foundit to gain market share ©2023 Quess Corp Limited. All rights reserved.
Slide 43: Statutory Milestones – Demerger expected within 13-15 months
Statutory Milestones – Demerger is expected to be effective within 13-15 months Completed In-Process Not initiated Q1’FY26 Q4’FY24 Q1’FY25 Q2’FY25 Q4’FY25 Application with Stock Filing of Scheme of Filing of NCLT Convening of NCLT Final hearing of petition of Exchanges, Corporate Arrangement applica
Slide 44: New Joinee workforce snapshot
New Joinee workforce snapshot Sector wise additions Additions in leading States Gender (Net Addition of 10,433) MAHARASHTRA 2,962 Male Female 4,765 Retail TAMILNADU 1,446 79% 21% 1,934 FMCG / FMCD GUJARAT 1,420 Joinee 1,885 Industrials UTTAR PRADESH 1,379 Transfer Sourcing 1,563 Healthcare Telecom W
Slide 45: FY25 Outlook and Focus Areas
FY 25 Outlook and Focus Areas Workforce Management Global Tech Solution Operating Asset Management General Staffing: Conneqt Open Mandates (OM) remained strong at Collections business revenue crossed Rs. 49k on Mar’24 With business consolidation delivering 500 cr mark with a 24% YoY growth Manufactu
Slide 46: Awards and Recognitions
Awards and Recognitions Ranked 2 Ranked 54 Certified a Great Place to Top 5 Women Employers in India India's 40 Best Workplaces in amongst India's largest In SIA’s top 100 largest global Work in 2024 for the 5th by Burgundy Private Hurun India Health and Wellness 2022 employers by Burgundy staffing
Slide 47: ESG Updates
05 ESG Updates ©2023 Quess Corp Limited. All rights reserved. 46
Slide 48: MSCI ESG Rating
Morgan Stanley Capital International (MSCI) ESG Rating • MSCI ESG rating measures a company’s management on financially relevant ESG risks and opportunities. Considered one of the most sought ESG Ratings in the world due to its wide acceptance by Investor community • Rating is based on Quess public
Slide 49: ESG Progress – Q4 FY24
ESG Progress – Q4 FY24 What’s good for society is good for Quess Responsible Citizen Trusted Institution The People Company Environmentally Conscious ©2023 Quess Corp Limited. All rights reserved. 48
Slide 50: ESG Progress – Q4 FY24
ESG Progress – Q4 FY24 What’s good for society is good for Quess Diverse Workforce Nurturing Work Environment Digitizing Job Discovery 100K+ employees are women Great place to work® re-certified Monthly Avg. of 7.4K+ job (37.1% of Core & 18% of for 2024-25 openings in Q4 FY24 with over Associates) B
Slide 51: ESG Progress – Q4 FY24
ESG Progress – Q4 FY24 What’s good for society is good for Quess School Upgradation Academic Support Health & Wellbeing Adopted 75 Government School • Education Kit : Provided 14K+ School • 12K+ Students screened under Annual focused on providing basic facilities Bags & 8K+ Notebooks Given. health S
Slide 52: ESG Progress – Q4 FY24
ESG Progress – Q4 FY24 What’s good for society is good for Quess Environmentally Positive Responsible Waste Management Biodiversity Over 166K+ devices repaired /refurbished 1.5K+ Kgs of paper waste and over by Digicare as on 29th Feb 2024 4K+ food waste responsibly disposed 251 trees planted in FY24
Slide 53: ESG Progress – Q4 FY24
ESG Progress – Q4 FY24 What’s good for society is good for Quess Quality and Data Privacy Safety Incident Management Information security and Cyber Security Cyber Security Council with C-suite Quess Corp is ISO 37001: 2016, ISO level oversight. WorQ & UHD 27001: 2013, and ISO 9001: 2015 certified Im
Slide 54: Disclaimer / About Quess Corp
About Quess Corp Quess Corp Limited (Quess) is India’s leading business services provider, leveraging our extensive domain knowledge and future-ready digital platforms to drive client productivity through outsourced solutions. We provide a host of technology enabled staffing and managed outsourcing