Motilal Oswal: Quess Corp Likely To Benefit From Near-Term Uncertainty In Job Market

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Quess Corp Ltd.’s Q1 FY21 results were largely in line with estimates. Adjusted for businesses that remained completely closed (e.g., Excellus Learning Solutions Pvt.) and one-off Covid-19 related costs, underlying revenue, Ebitda, and recovery trends were reasonably resilient.Good cost rationalisation, net debt reduction (by Rs 1 billion), healthy cash conversion (operating cash flow/Indian accounting standards adjusted Ebitda equals to 152%), and the simplification of Terrier Security Service’s holding structure are key micro-level positives.Recent unemployment data (e.g., Centre for Monitoring Indian Economy) and hiring outlook surveys hint at quick and strong recovery in the job market.However, the back and forth on lockdowns across cities would mean some amount of uncertainty in the job market.Based on our learning in the immediate aftermath of global financial crisis and demonetisation, this uncertainty would likely lead to the conversion of some otherwise permanent roles into temporary ones, consequently benefitting staffing firms..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Motilal Oswal: Quess Corp Likely To Benefit From Near-Term Uncertainty In Job Market

Motilal Oswal: Quess Corp Likely To Benefit From Near-Term Uncertainty In Job Market

Choose a plan