Motilal Oswal: Quess Corp - Improving Demand Outlook To Drive Strong FY22 Growth
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Motilal Oswal Report
Quess Corp Ltd.’s Q2 FY21 results witnessed beat on revenue and largely in-line margins.
Adjusted for lockdown related impact in integrated facilities management food services and Excelus business, underlying revenue, Ebitda, and recovery trends were resilient.
Good cost rationalisation, net debt reduction (approximately 83%) and healthy cash conversion (operating cash flow/Ebitda equals to 212%) are key micro-level positives.
Recent unemployment data (e.g. Centre for Monitoring Indian Economy) and hiring outlook surveys hint at good job market recovery.
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