Quess Corp Limited has informed the Exchange regarding Resignation of Mr Chandran Ratnaswami as Non- Executive Director of the company w.e.f. May 31, 2026.
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Quess Corp reported multiple outcomes from its May 4, 2026 board meeting. Non-Executive Director Mr. Chandran Ratnaswami resigned effective May 31, 2026, citing advancing age and a desire to make space for younger people. He was replaced by Mr. Anish Thurthi as Additional Director from June 1, 2026. Financially, FY2026 consolidated revenue stood at Rs 1,53,052 million (vs Rs 1,49,672 million in FY2025), with profit after tax of Rs 2,222 million, a significant jump from Rs 459 million the prior year. However, auditors Deloitte issued a qualified opinion due to ongoing income tax disputes (Rs 3,880 million in contingent liabilities) related to Section 80JJAA deductions. The board declared a special interim dividend of Rs 3 per share (record date May 8, 2026) and recommended a final dividend of Rs 3 per share, both totalling Rs 448 million each, marking the company's 10-year listing anniversary.
The resignation of a long-serving non-executive director represents a governance-level board change but appears routine given the stated personal reasons. Strong profit growth and shareholder-friendly dividend payouts signal financial health despite ongoing tax litigation concerns.