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Quess Corp Ltd - Stock Valuation and Financial Performance

BSE: 539978 | NSE: QUESS | BPO/ITeS | Small Cap

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Quess Corp Share Price

 ₹685.85 1.80 0.26%
as on 24-Mar'25 16:59

DeciZen - make an informed investing decision on Quess Corp

Overall Rating ⓘ
Bole Toh

1. Quality

Very Good
Check detailed 10 Yrs performace

2. Valuation ⓘ

Somewhat Undervalued
Check 10 Yrs Valuation charts

3. Price Trend

Strong
Check Price chart

Quess Corp stock performance -

PE Chart Key Ratios
P/E Ratio (CD):
27.52
Market Cap:
10,213.6 Cr.
52-wk low:
491.5
52-wk high:
875

Is Quess Corp Ltd an attractive stock to invest in?

1. Is Quess Corp Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Quess Corp Ltd is a good quality company.

2. Is Quess Corp Ltd undervalued or overvalued?

The key valuation ratios of Quess Corp Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is Quess Corp Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Quess Corp Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Quess Corp:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Standalone Basis P Consolidated Basis P
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Quess Corp Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % ⓘ35.2%24%15.6%12.2%11.6%-6.2%9.5%14.9%12.9%13.3%-
Value Creation
Index ⓘ		1.60.80.2-0.1-0.1-1.5-0.30.1-0.10.0-

Growth Parameters ⓘ

Growth Parameters Colour Code Guide ⓘ

Sales ⓘ2,0543,4354,3156,1678,52710,99110,83713,69217,15819,10020,611
Sales YoY Gr.-67.3%25.6%42.9%38.3%28.9%-1.4%26.3%25.3%11.3%-
Adj EPS ⓘ5.37.29.721.417.5-29.22.816.312.319.924.9
YoY Gr.-35.3%35.3%120.3%-18.3%-267%NA472.9%-24.3%62%-
BVPS (₹) ⓘ1931.166.5168.7185.8153.4157162.1168.7182201.7
Adj Net
Profit ⓘ		54.681.2123311255-43042241183296371
Cash Flow from Ops. ⓘ11.9-49.568.4109202361715554466529-
Debt/CF from Ops. ⓘ15.1-7.911.49.343.20.71.11.10.7-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ28.1%17.5%20.8%11.3%
Adj EPS ⓘ15.9%2.7%91.5%62%
BVPSⓘ28.5%-0.4%5.1%7.9%
Share Price - 25.2% 5.4% 37.2%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity % ⓘ		31.426.814.816.59.8-17.21.810.17.31113
Op. Profit
Mgn % ⓘ		5.14.45.65.85.564.34.63.43.73.7
Net Profit
Mgn % ⓘ		2.72.42.953-3.80.51.81.11.61.8
Debt to
Equity ⓘ		0.91.10.90.40.30.50.20.30.20.1-
Working Cap
Days ⓘ		567794103105969880747233
Cash Conv.
Cycle ⓘ		232932353226284051509

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 13.00%

Sales growth is growing at healthy rate in last 3 years 20.79%

Net Profit is growing at healthy rate in last 3 years 91.49%

Sales growth is good in last 4 quarters at 10.60%

No data to display

Latest Financials - Quess Corp Ltd.

Standalone Consolidated
TTM EPS (₹) 29.6 24.9
TTM Sales (₹ Cr.) 17,343 20,611
BVPS (₹.) ⓘ 197.2 201.7
Reserves (₹ Cr.) ⓘ 2,788 2,855
P/BV ⓘ 3.48 3.40
PE ⓘ 23.17 27.52
From the Market
52 Week Low / High (₹) 491.45 / 875.00
All Time Low / High (₹) 165.40 / 1300.00
Market Cap (₹ Cr.) 10,214
Equity (₹ Cr.) 148.9
Face Value (₹) 10
Industry PE ⓘ 69.4

Quarterly Results

Standalone Basis
Consolidated Basis
 Mar'24 YoY Gr. Rt. %Jun'24 YoY Gr. Rt. %Sep'24 YoY Gr. Rt. %Dec'24 YoY Gr. Rt. %
Sales (₹ Cr.)ⓘ 4,910 10.65,003 8.85,179 9.15,519 14
Adj EPS (₹) ⓘ 6.6 196.96.2 91.96.2 266.5 23.1
Op. Profit Mgn % ⓘ 3.98 56 bps3.67 32 bps3.78 23 bps3.57 -27 bps
Net Profit Mgn % ⓘ 2.07 140 bps1.99 94 bps1.80 28 bps1.82 22 bps

Management X-Ray of Quess Corp:

Shareholding Pattern

JavaScript chart by amCharts 3.21.5
JavaScript chart by amCharts 3.21.5Promoters:56.57%Institutions:25.68%Non-Institutions:17.74%

Promoter's Holding & Share Pledging

JavaScript chart by amCharts 3.21.5Sep22Dec22Mar23Jun23Sep23Dec23Mar24Jun24Sep24Dec240%10%20%30%40%50%60%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Quess Corp

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MRP: ₹ 0
DP: ₹0
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DPS ₹:
MOS (%):
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Expected EPS Growth Rate:
0%
Base 0%
50%
Expected Rate of Return:
0%
Base 0%
50%
Future PE:
0
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200
YTD 1Y 3Y 5Y 10Y Max
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Event Update

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Analyst's Notes

Sell Note: Quess Corp - 10 Jul 2024

We are divesting from Quess Corp due to two primary reasons:

  1. Execution Risk and Unfavourable Risk-Reward Ratio: 

The Company is underway its 3-way demerger between Quess Corp, Digitide Solutions and Bluspring Enterprises. While management is committed to the smooth transition, these corporate events will be time-consuming and filled with execution risk. Even though on revenue front the company has been able to show growth, ROEs have not been improving. The stock has appreciated ~20% since the merger announcement, making the current risk-reward ratio unfavourable. The potential upside is now overshadowed by downside risks, which doesn’t align with our investment rationale.

2. Reallocating to Superior Opportunities: 

This was a Booster category company where we take investment decisions on the basis of potential over the next 2-3 years. We aim to capitalize on better investment ideas. Our research has identified more promising opportunities with attractive valuations and growth potential. By reallocating our resources, we enhance our portfolio's performance and resilience. 

Quess Corp's Three-Way Demerger: Targeting Value and Focused Growth - 19 Feb 2024

Quess Corp has announced a three-way demerger to streamline its operations and unlock value for shareholders. Each shareholder of Quess Corp shall receive one share of the newly created entities. The move aims to narrow the focus of each company, providing enhanced strategic clarity and management focus to accelerate profitable growth. With a simplified corporate structure, each entity can pursue independent strategies with strong management focus. 

Structure of the Demerger:

Quess Corp Ltd (Remaining Company): Largest Workforce Management Entity in India, serving over 440,000 associates with a focus on hiring, deployment, performance management, and upskilling.

Digitide Solutions Ltd (New Company-1): Provider of BPM Solutions, Insurtech, and HRO Business, aiming for $1 billion in revenue with a global presence across 30 countries.

Bluspring Enterprises Ltd (New Company-2): Offering Facility Management, Industrial Services, and Investments, targeting 20% YoY revenue growth through premium services and strategic expansion.

Positives from the Demerger:

The demerger aligns its businesses to seize the evolving opportunities by granting each entity a narrowed focus, the demerger enhances customer service as well as shareholder value through heightened management attention. Quess Corp Ltd, Digitide Solutions Ltd, and Bluspring Enterprises Ltd are poised to lead their respective sectors, supported by robust market positions and growth prospects. With dedicated focuses on workforce management, BPM solutions, insurtech, HRO business, facility management, industrial services, and investments, each entity is positioned for substantial revenue growth. Shareholders stand to benefit from this restructuring firstly on account of value unlocking and also because of better business prospects for each company with improved management execution. 

Moneyworksme Opinion: This merger was long overdue for the company as it shall expedite value generation in the business. We had highlighted in our previous note that, while the future potential is large, the weak macro environment, execution, and regulation has resulted in lower than expected performance and hence disappointment. Even though our priority remains to exit the company where our growth assumptions are not playing out, we need to see how the demerger shapes and if the risk-reward is in our favour to stay invested. Thus, we are looking for an appropriate valuation to exit the stock.

Quess Corp: Q1FY24 Result Update - 07 Aug 2023

Particulars

Q1FY24

YoY Trend

Comments

Revenue

4,600

+16%

Workforce management (WFM) segment revenue were up by 17%, 16% for Operating Asset management. Headcount addition of 55,000 YoY

EBITDA

154

Flat

WFM EBITDA decreased due to slow down in permanent recruitment hiring

EBITDA Margin

3.3%

-50 bps

 

PAT

48.1

-28%

Higher finance cost and tax outflow due to changes in business mix led to fall in PAT

Weak results as expected. Recovery in hirings shall take some more quarters.

 

Quess Corp: Q4FY23 Result Update - 19 May 2023

 

Rs (Cr)

Q4FY23

YoY(%)

Comment

Revenue ( Consolidated)

4,440

17

Driven by WFM (up 16%), OAM (up 19%) and GTS (up 20%).

EBITDA

152

-18

 

EBITDA Margin

3.42%

-146bps

Due to investments in Product Led Business.

PAT

30

-61

 

At Par Result.

 

Quess Corp : Valuation update - 09 Feb 2023

.

Quess Corp: Result Update Q3FY23 - 09 Feb 2023

Market Cap: Rs. 5,780 Cr

CMP 390 | P/E 21x FY23

Results

Rs. Cr

YoY Growth

Comments

Revenue

4,466

21%

Driven by General Staffing (up 24%), Quess Singapore (up 50%) and Conneqt (up 20%)

EBITDA

146

-19%

EBITDA for the quarter was down due to Product-Led Business (Foundit) burn of Rs. 30 Cr, increase in SG&A cost by Rs. 7 Cr, contract renegotiation in IFMS business impacting Rs. 5 Cr and investment in US staffing business of Rs. 3 Cr.

PAT

86

-3%

Includes exceptional other income of 53.5 Cr from sale of Simpliance

Click here for 10 year X-Ray

Key highlights:

  • The business environment for the quarter was muted across majority sectors except in segments like BFSI, Manufacturing, and FMCG & FMCD.
  • Global Technology Solutions segment recorded Highest-ever revenue and headcount (Crossed 50K)
  • IFM recorded Revenue growth of 23% YoY and 6% QoQ. Food business revenue grew of 12% QoQ.
  • SG&A declined to 5.7% of revenue from 6.2% of revenue in Q2FY23.
  • Net debt position at 68 Cr in Q3’23 against net cash position of 57 Cr in Q2’23
  • Company has paid interim dividend of Rs. 8 per share for FY23.
  • Company received a final order of Rs. 198 Cr income tax assessment pertaining to FY17-18, with final tax liability of Rs. 68 Cr pertaining to the disallowance of 80JJAA and depreciation claimed on Goodwill.

Management Outlook

  • Management expects to achieve 70% OCF to EBITDA for FY23 on back of strong collections in Q4 from 45% for the quarter and 60% for 9MFY23.
  • It will focus on reducing SG&A expenses and debt in coming quarters.
  • It continues to focus on the simplification of the corporate structure.
View All Notes

Key Ratios of Quess Corp

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Peer Comparison

Company Name CMP(₹)
Change ₹(%)
Market Cap
Net Sales (₹ Cr.)
Latest EPS (₹)
Net Profit Margin %
Latest P/E
Latest P/BV
Quess Corp 685.9 1.8 (0.3%) Small Cap 19,100 24.9 1.6 27.5 3.4
eClerx Services 2,754 7.9 (0.3%) Small Cap 2,926 109 17.2 25.3 6
CMS Info Systems 481.3 -8.4 (-1.7%) Small Cap 2,265 22.3 15 21.6 3.6
Affle 3i 1,559.5 20 (1.3%) Small Cap 1,843 26.1 15.6 59.8 7.8
Firstsource Solution 320.7 3.3 (1%) Small Cap 1,601 6.1 19.8 52.9 8.5
Hinduja Global Soln. 522.6 -1.5 (-0.3%) Small Cap 1,578 -41.5 -5 - 0.9
Protean e-Gov Tech. 1,387.7 18.5 (1.4%) Small Cap 881 23.1 11.4 60.1 5.8
Inventurus Knowledge 1,487.8 28.3 (1.9%) Small Cap 873 19.6 38.8 75.8 7.4
Matrimony.Com 532.4 0.3 (0.1%) Small Cap 481 22.6 10.3 23.5 4.7
Alldigi Tech 972.6 20.6 (2.2%) Small Cap 314 45.9 20.2 21.2 6.4
Shows rows:

Profit And Loss

(All Figures are in Crores.)
Standalone Basis Consolidated Basis
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales2,5673,4354,3156,1678,52710,99110,83713,69217,15819,100
Operating Expenses ⓘ 2,4373,2844,0765,8128,05910,33110,37613,06616,57018,403
Manufacturing Costs155094122235229197270261238
Material Costs524871142262267201279479477
Employee Cost 2,2743,0073,6345,0796,7139,0639,29711,68714,66016,557
Other Costs ⓘ 961782774688497716818301,1701,130
Operating Profit ⓘ 130151239355468660461626589698
Operating Profit Margin (%) 5.1%4.4%5.5%5.8%5.5%6.0%4.3%4.6%3.4%3.7%
Other Income ⓘ 791557715145202629
Interest ⓘ 2331497711716911482110121
Depreciation ⓘ 10143375123249229212275283
Exceptional Items ⓘ 00000-66433754-27
Profit Before Tax ⓘ 105115172261289-384185358284295
Tax ⓘ 363450-4833471111076115
Profit After Tax 6981122310257-43274251223280
PAT Margin (%) 2.7%2.4%2.8%5.0%3.0%-3.9%0.7%1.8%1.3%1.5%
Adjusted EPS (₹)6.77.29.621.417.6-30.23.916.315.118.7
Dividend Payout Ratio (%)0%0%0%0%0%0%179%25%79%53%

Balance Sheet

(All Figures are in Crores.)
Standalone Basis Consolidated Basis
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 2453528442,4542,7142,2622,3182,3982,5002,703
Share Capital ⓘ 26113127145146148148148148149
Reserves ⓘ 2192397172,3082,5682,1152,1702,2502,3522,554
Minority Interest001237794131162166
Debt220374744966750998451571519360
Long Term Debt035274269209115542492
Short Term Debt220339470698541883397547509358
Trade Payables426778148173163121115125118
Others Liabilities ⓘ 2085201,3261,3941,4431,9121,9262,3252,8062,909
Total Liabilities ⓘ 7151,3142,9924,9635,0835,4124,9105,5416,1126,255

Fixed Assets

Gross Block1713061,2691,8442,0212,2792,4942,7872,6832,788
Accumulated Depreciation4154982133647929891,1308871,093
Net Fixed Assetsⓘ 1292521,1721,6321,6561,4871,5051,6571,7961,695
CWIP ⓘ 028215531151833
Investmentsⓘ 0478286128106541025093
Inventories127822282927287
Trade Receivables2554055099219139988942,3322,6892,772
Cash Equivalents 82109463837585759565512566545
Others Assetsⓘ 2485397561,2781,7622,0291,8338959661,109
Total Assets ⓘ 7151,3142,9924,9635,0835,4124,9105,5416,1126,255

Cash Flow

(All Figures are in Crores.)
Standalone Basis Consolidated Basis
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity ⓘ 15-5068109202361715554466529
PBT ⓘ 105115172261289-384185358284295
Adjustment ⓘ 3046741132121,084412314404523
Changes in Working Capital ⓘ -86-162-94-186-125-193-46-31-23-145
Tax Paid ⓘ -34-48-84-80-175-145165-87-199-144
Cash Flow From Investing Activity ⓘ -68-10-574-797180-174-106-188-249
Capex -15-23-38-85-96-57-61-83-99-99
Net Investments -22-154-310337113-54-862466
Others ⓘ -5211-381-402-61-2299-197283
Cash Flow From Financing Activityⓘ 6686707948-44513-834-441-443-497
Net Proceeds from Shares ⓘ 034018751480000
Net Proceeds from Borrowing ⓘ 001400-1-31-19-11
Interest Paid ⓘ -22-30-44-67-86-116-74-55-64-62
Dividend Paid ⓘ 0000000-162-177-59
Others ⓘ 88114350136-35981-759-193-183-365
Net Cash Flow ⓘ 1327201259-63201-225-762182

Finance Ratio

Standalone Basis Consolidated Basis
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)39.7127.1820.3818.799.93-17.363.2210.649.110.78
ROCE (%)35.2423.9515.6312.1711.63-6.199.514.9312.8713.29
Asset Turnover Ratio4.633.3921.551.72.092.12.622.943.09
PAT to CFO Conversion(x)0.22-0.620.560.350.79N/A9.662.212.091.89
Working Capital Days
Receivable Days27353942393232435352
Inventory Days0000111110
Payable Days1624143712902232302591559193

Quess Corp Ltd Stock News

Quess Corp Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Quess Corp on 24-Mar-2025 16:59 is ₹685.9.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 24-Mar-2025 16:59 the market cap of Quess Corp stood at ₹10,213.6.
The latest P/E ratio of Quess Corp as of 24-Mar-2025 16:59 is 23.17.
The latest P/B ratio of Quess Corp as of 24-Mar-2025 16:59 is 3.48.
The 52-week high of Quess Corp is ₹875.0 and the 52-week low is ₹491.4.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Quess Corp is ₹17,343 ( Cr.) .

About Quess Corp Ltd

Quess Corp Limited was incorporated as IRIS Human Capital Solutions Private Limited on September 19, 2007 at Bengaluru, Karnataka as a private limited company under the Companies Act, 1956. Pursuant to a special resolution of its Shareholders dated October 12, 2007, the company’s name was changed to IKYA Human Capital Solutions Private Limited and a fresh certificate of incorporation consequent upon the change of name was issued by the Registrar of Companies, Bangalore (RoC) on October 15, 2007. Subsequently, pursuant to a special resolution of its Shareholders dated May 14, 2013, the company was converted into a public limited company and the name of the company was changed to IKYA Human Capital Solutions Limited. A fresh certificate of incorporation consequent upon conversion to a public limited company was issued by the RoC on July 2, 2013. Thereafter, pursuant to a special resolution of its Shareholders dated December 4, 2014, the company’s name was changed to Quess Corp Limited. A fresh certificate of incorporation consequent upon the change of name was issued by the RoC on January 2, 2015.

Established in 2007 and headquartered in Bangalore. It is also ‘A Great Place to Work’ certified - a testament to excellent culture, people, and processes.

Business area of the company

The company is India’s leading business services provider and largest private-sector employer. It offers a host of services to help organizations manage their non-core activities in the areas of Workforce Management, Operating Asset Management, and Global Technology Solutions across industries and geographies.

Products & Services offered by the company

Work Force Management

  • Staffing
  • IT Staffing
  • Skill & Learning solution
  • Digital Compliance Solution

Integrated Facilities Management Services

  • Food Services
  • Security Services
  • Industrial Services
  • Telco Network Services

Global Technology Services

  • Domestic CLM and BPO
  • International CLM and BPO
  • Domestic IT Services
  • Monster Jobs
  • Product Installation & Servicing Solution
  • Heptagon

Awards

  • 2016: Quess Staffing was recognized as the Star Partner at HCL Global Partner Meet, 2016.
  • 2016: Quess Lanka won the ‘Device Service Excellence Gold Partner Award’ from Huawei Sri Lanka for providing professional staffing services across the region, 2016.
  • 2016: Simpliance, an associate of Quess, was recognised as the Best Start-Up for its industry leading cloud-based compliance tool at NHRD Showcase, 2016.
  • 2016: Quess Industrials was awarded the Strategic Partner (Services) award by ZTE at its India Partners Meet, 2016.
  • 2016: Conneqt Business Solutions, Subsidary of Quess, recognised for contribution towards society by Amity CSR awards.
  • 2016: Quess was recognized as the ‘Best Partner’ two years in a row by Huawei Telecommunications for staffing business, 2016.
  • 2016: Chairman Ajit Isaac was named a finalist at the 2016 EY Entrepreneur of the Year Award Program in India.
  • 2017: Quess was recognized as the winner in the ‘Best IPO’ category of IR Awards, 2017 instituted by the Investor Relations Society of India in association with KPMG, Bloomberg and BSE.
  • 2019: Quess was ranked 177 on ET 500 companies list and 69 on SIA top global Staffing firms for 2019.
  • 2019: Comtel Solutions, Singapore was recognised as Asia’s Best Employer Brand 2019.
  • 2019: Quess has been certified as a Great Place to Work for the year 2020 by Great Place To Work Institute - India.
  • 2020: Suraj Moraje, Group CEO and Executive Director, was presented the Young Alumni Achiever Awards 2019-20 for Corporate Leadership by IIM Ahmedabad.
  • 2020: Quess Malaysia has won three prestigious awards at the Asia Recruitment Awards 2020 - Best Recruitment Portal by a Recruitment Solution Provider (Gold), Best Candidate Experience by a Recruitment Solution Provider (Silver), and Most Innovative Recruitment Strategy - Solution Provider (Bronze).
  • 2021: Quess was certified as a Great Place to Work for the year 2021 by Great Place to Work Institute, India.

Milestones

  • 2007: Incorporation of the company
  • 2008: Acquired Avon, a facility management company
  • 2008: Investment by Park Equity Holdings Limited in Company
  • 2009: Acquired Coachieve, a human resources solutions company
  • 2010: Acquired Magna Infotech, an IT staffing company
  • 2011: Selected by Ministry of Rural Development, Government of India, to train 8,000 individuals
  • 2013: TCIL acquired a majority stake in Company
  • 2014: Acquired 49% stake in MFX, an IT infrastructure company.
  • 2014: Acquired Brainhunter, an IT solutions company
  • 2014: Acquired Hofincons, a consulting and asset management services company
  • 2015: Acquired Aravon, an integrated facilities management company
  • 2015: Court approval of the scheme of amalgamation of Avon, Magna Infotech and Hofincons with company and filing with the RoC
  • 2015: Signed a share purchase agreement to acquire TSQ
  • 2016: Listed on NSE and BSE
  • 2016: Acquired Randstand Lanka, a staffing and human resources solutions company
  • 2016: Acquired balance 51% stake in MFX, an IT infrastructure company
  • 2016: Acquired 49% stake in Terrier, entering Manned Guarding and Security Solutions Business
  • 2016: Invested in Manipal Integrated Services, niche FM and Food Business focused on Education and Healthcare
  • 2016: Acquired majority stake in Inticore, entering into advanced engineering solutions
  • 2016: Headcount crosses 1,50,000 with general staffing business crossing the 1,00,000 mile marker
  • 2017: Acquired Greenpiece Landscapes
  • 2017: Invested in Simpliance, adding technology muscle to Compliance Management Function
  • 2017: Acquired 64% stake in Comtel, largest IT Staffing player in Singapore
  • 2017: Successfully completed its first Institutional Placement Program & raised Rs. 874 Cr
  • 2017: Acquired Stakes in Vedang Cellular Services Private Limited
  • 2017: Formed a Joint Venture with Trimax IT Infrastructure and Services Ltd
  • 2017: Forayed into the managed services business with Qtek Systems
  • 2017: Acquired majority stakes in TATA Business Support Services Limited (TBSS), now called ConneQt Business Solutions
  • 2017: Launched Aadhaar-based onboarding tool, POP(Paperless Onboarding Platform) through Heptagon technologies
  • 2017: Celebrated 10 year anniversary 
  • 2018: Acquired Monster (APAC & Gulf) and HCL’s care unit, Touch
  • 2019: Acquired 61.35% stake in Allsec Technologies
  • 2019: Ranked 177 on ET 500 companies list
  • 2019: Ranked 69 on SIA top global Staffing firms
  • 2020: Recognized as India’s largest private sector employer
  • 2020: Received Great Place to Work Certification
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Mobile No:+91 91758 99463
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