Company is regressively part of fascist’s eugenics (5)

I believe the answer is:

guest

I'm a little stuck... Click here to teach me more about this clue!

'company' is the definition.
(I've seen this before)

'regressively part of fascist's eugenics' is the wordplay.
'GUEST' is hidden backwards in amongst the letters.
But, I'm uncertain how the hidden word is indicated.

'is' acts as a link.

Can you help me to learn more?

(Other definitions for guest that I've seen before include "See 2" , "Visitor to whom hospitality is extended" , "One receiving hospitality" , "Invited visitor" , "Conjectured audibly" .)

I've seen this clue in The Independent.

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