Quess Corp Limited (NSE: QUESS, BSE: 539978)

Introduction

Quess Corp Limited (NSE Symbol QUESS, Security Code 539978) announced the outcome of its Board meeting held on 29 July 2026. The Board approved the unaudited standalone and consolidated financial results for the quarter ended 30 June 2026, together with the accompanying Limited Review Report issued by its statutory auditors.

Key Points from the Announcement

Board Approval

• The Board of Directors considered and approved the unaudited financial results (both standalone and consolidated) for Q2 FY 2026.
• The meeting was convened at 06:00 PM IST and concluded at 07:30 PM IST.
• The unaudited results and the Limited Review Report are filed as per Regulation 33 of SEBI (LODR) 2015 and are available on the company website www.quesscorp.com.

Auditor’s Review Report (Deloitte Haskins & Sells LLP)

Scope & Standards

• Review performed in accordance with Standard on Review Engagements (SRE) 2410 and SEBI Regulation 33(8).
• The review is limited in scope (inquiries, analytical procedures) and does not provide audit assurance.

Qualified Conclusion

• Basis for qualification: Certain tax deductions claimed by Quess Corp have been disallowed by the Income Tax Authority. The company is challenging these disallowances in a judicial forum and believes the deductions will ultimately be accepted.
• The auditors could not comment on any potential adjustments pending final resolution.
• This qualification mirrors the same issue noted in the reports for the quarter ended 30 June 2025 and the year ended 31 March 2026.

Emphasis of Matter

• Note 4 highlights demands received by the company concerning provident fund and contingency liabilities linked to the pending tax litigation. The auditors’ conclusion remains unchanged.

Subsidiary Coverage

• 6 subsidiaries (revenues ₹ 2,929.73 million, net profit ₹ 124.31 million, comprehensive income ₹ 124.31 million) were reviewed by other auditors; Deloitte relied on those reports.
• 16 subsidiaries (revenues ₹ 647.91 million, net profit ₹ 24.48 million, comprehensive income ₹ 24.07 million) were not reviewed by their auditors. Management indicated these amounts are not material to the Group, and Deloitte’s conclusion is not modified.

Compliance & Disclosure

• The unaudited results and review report comply with Ind AS 34 (Interim Financial Reporting), the Companies Act 2013, and SEBI listing regulations.
• No material misstatement was identified apart from the qualified tax‑deduction matter.

Investor Takeaways

• Financial Results: The company has formally disclosed its interim financial performance for Q2 FY 2026, though the figures are presented only for subsidiary aggregates in the auditor’s note.
• Tax Litigation: Ongoing dispute over tax deductions introduces uncertainty; however, management remains confident of a favorable outcome.
• Audit Scope: The limited review provides reasonable assurance but not the same level of confidence as a full audit.
• Regulatory Compliance: All filings adhere to SEBI’s Regulation 33 requirements, and the documents are publicly accessible on the corporate website.

The information above reflects only the content of the corporate announcement and the accompanying auditor’s review report dated 29 July 2026.