Quess Corp Ltd

New Quess: A Sharper Focus. A Bolder Future.

What stands before you today is a new Quess, a focussed, tech-led workforce powerhouse, purpose-built to serve a world of dynamic work, emerging technologies, and global ambition.

Dear Shareholders,

The year gone by will go down as a landmark year in Quess Corp's journey, where we achieved a significant milestone with the successful execution of our three-way demerger. This demerger is not just a structural shift, it is the emergence of new Quess: a pure-play, tech-led workforce powerhouse, built for scale, agility, and impact. Much like a precision tool honed to purpose, Quess now operates with a unified focus, anchored entirely on workforce management. This initiative was about unlocking long-term shareholder value, which has enabled us to sharpen our operational focus, tailor capital allocation, realign key performance metrics, and unlock the intrinsic value of each vertical.

This sharpened identity could not have emerged at a more crucial time when macroeconomic shifts, regulatory tailwinds, and digital acceleration are collectively reshaping the contours of the workforce industry. Despite global economic uncertainty, geopolitical tensions, and muted tech hiring, Quess continued its upward trajectory. While the industry grappled with margin pressures, we delivered a robust performance - ' 149,672 Mn in revenue, a 12% year-on- year growth in operating EBITDA, reaching ' 2,623 Mn, and a strong net cash position and healthy EBITDA to OCF conversion. These outcomes were not incidental, they are the result of our diversified client base, robust compliance governance, and digital muscle.

This performance was not in isolation, it was deeply supported by India's strengthened economic foundation and policy momentum. From the government's ' 1,970 Bn PLI scheme fuelling manufacturing jobs to Global Capability Centres (GCCs) expanding into emerging cities, the demand for workforce solutions continues to surge. These developments have opened up vast and sustainable opportunities for Quess to create long-term value. India's labour market is at a defining moment. The shift toward formalisation and digital adoption is reshaping the future of work, creating a significant opportunity for organised staffing solutions. Quess is well-positioned to lead this transformation by riding regulatory tailwinds in formal staffing, capitalising on GCC-led professional hiring, and building a digital infrastructure that powers the new world of work.

What stands before you today is a new Quess, a focussed, tech-led workforce powerhouse, purpose-built to serve a world of dynamic work, emerging technologies, and global ambition. But this structure isn't just organisational, it's digital at its core. Our Digital Platforms are redefining how we attract, engage, and deploy talent at scale. Initiatives like Project Helix are embedding AI across our internal processes from candidate screening and workforce deployment to associate engagement and productivity management.

This is not transformation for the sake of technology, but it is transformation for speed, visibility, and scale. As we move into FY 2025-26, we are committed to deepening these investments to build a truly intelligent, adaptive workforce platform.

As India's largest staffing company with over 450K associates, we have become a cornerstone of the country's workforce ecosystem. But this scale also fuels our global ambition. Our ambition is bold and grounded: to be the world's largest staffing company by headcount by 2030.

India remains our home market, but our future is global.

Our footprint in Singapore, Malaysia, the Philippines, and especially the Middle East, where we have built our overseas base, serves as a launchpad for global expansion. We see India not just as a market, but as a global talent reservoir. Quess is the bridge, connecting Indian capability with global demand. With a strong net cash position, we are actively exploring strategic entry into the U.S., Europe, and Japan through calibrated acquisitions. While we remain cautious of macro uncertainties, shifting hiring cycles, political developments, and regulatory shifts, the structural job creation story in India remains compelling.

As we enter FY 2025-26, we are focussed on four key priorities:

• Strengthening market share through execution excellence;

• Scaling productivity through intelligent automation and digital platforms;

• Building leadership and next-gen talent; and

• Driving inclusive impact through equitable hiring and community initiatives.

Our path forward is guided not just by opportunity, but by purpose. With our foundation strengthened and the wind at our back, we are ready to scale rapidly, responsibly, and purposefully.

As we continue to scale with discipline, our commitment to delivering shareholder value remains unwavering.

Quess has long upheld a strong dividend-paying track record, supported by robust cash flows and a healthy balance sheet. In a significant step forward, our Board has approved a policy to return up to 75% of free cash flow to shareholders - via dividends and/or share buybacks - over a rolling three-year period starting FY 2025-26.

This positions us among India's most shareholder-friendly companies and reflects both the strength of our financial foundation and the confidence we have in our future growth trajectory. We remain committed to balancing strategic reinvestments with disciplined, transparent capital returns.

As an organisation, we firmly believe that growth is truly sustainable only when it is accompanied by responsibility. This year, our ESG journey deepened with a continued emphasis on being a people-first, purpose-driven organisation. From empowering women across our workforce and promoting inclusive workplaces to unlocking employment opportunities through digital innovation, our focus has remained on creating equitable pathways. Beyond our walls, this commitment is reflected in our community initiatives, school infrastructure upgrades, distribution of educational kits, life skills training, and healthcare interventions. These efforts underscore a belief that doing good and doing well must go hand in hand.

As we grow, so does our responsibility to our people, our partners, and society, and we remain committed to leading with empathy, acting with accountability, and driving impact at every step.

None of this would be possible without our clients, our employees, and our investors. To our clients, thank you for your unwavering trust. To our employees, thank you for your commitment. To our investors, thank you for believing in the long-term story of Quess. We stand today on the edge of extraordinary possibilities. A company that started as a bold idea in Bengaluru is now becoming the talent engine for the world.

The future holds immense promise. The next chapter has only just begun.