SUBEX LTD·SOFTWARE SERVICES 46.27·IT - Software Companies

2026-08-21 NSE BSE Web 20%

Price

18.66

+9.25%
O:17.24
H:19.39
L:17.15
C:18.66

52W Range

6.6119.39
+182%/-4%

Market Cap

₹1,048.70 Cr

Traded: ₹44.80 Cr (4.27%) 0.0x

Free Float: ₹959.66 Cr (4.67% of FF traded)

Volume · 60D trend

2.4 Cr 0.0x

Delivery: % 0.0x

View Delivery Data

Returns

1W:+0% 1M:+51% 3M:+63% 6M:+92% 12M:+57%

Valuation

P/E35.2
P/B3.1
P/S3.6
EV/EBIT-47.4

Business Strength

ROE-10.4%
ROCE-6.4%
OPM-5.2%
NPM-10.8%

Growth (3Y CAGR)

EPS+83.5%
Sales-5.0%
Profit--
3Y Return-34.0%

Balance Sheet

Debt/Equity0.0
Debt0 Cr
Pledge0.0%
CWIP/Fixed Asset0.0%

Cash Position

CFO/NP-32.3%
FCF7.42 Cr
FCF 3Y Avg0.86 Cr
Cash/MCap19.0%

Others

Div Yield0.0%
Div Payout0.0%
Cash Conv. Cycle99 days
Tradeable Free Float91.5%

MTF Exposure Trend

60 sessions · funded amount, % of FF, daily delta

Current
₹ 27.97 L
0.03% FF
60d high
₹ 83.03 L
60d low
₹ 27.16 L
60d mean
₹ 49.62 L
vs mean
▼ 43.64%

Growth Trends

Metric10Y5Y3Y1YTTMTrend
ROE
+1.0%
-3.0%
-11.0%
--
--
Decelerating
Sales
-2.0%
-5.0%
-5.0%
--
-7.0%
Stable
Profit
--
--
--
--
+110.0%
--
Return
-1.0%
-26.0%
-34.0%
-40.0%
--
Decelerating

Quarterly Results

Jun 2026

5 Aug
Rev
79 Cr
----
OPM19.0%
NPM--
PAT
--14 Cr
EPS
--0.3

Mar 2026

12 May
Rev
73 Cr
+3% YoY+3% QoQ
OPM13.0%
NPM13.6%
PAT
+157% YoY10 Cr
EPS
+158% YoY0.2

Dec 2025

10 Feb
Rev
71 Cr
-3% YoY+3% QoQ
OPM13.0%
NPM4.1%
PAT
+261% YoY3 Cr
EPS
+183% YoY0.1

Sep 2025

PDF
Rev
69 Cr
-7% YoY+4% QoQ
OPM9.0%
NPM4.2%
PAT
+333% YoY3 Cr
EPS
+400% YoY0.1

Jun 2025

PDF
Rev
66 Cr
-3% YoY-6% QoQ
OPM6.0%
NPM19.3%
PAT
+214% YoY13 Cr
EPS
+215% YoY0.2

Mar 2025

PDF
Rev
71 Cr
-16% YoY-3% QoQ
OPM-18.0%
NPM-24.9%
PAT
+5% YoY-18 Cr
EPS
+89% YoY-0.3

Dec 2024

PDF
Rev
73 Cr
-11% YoY-2% QoQ
OPM3.4%
NPM-4.5%
PAT
+34% YoY-3 Cr
EPS
+33% YoY-0.1

Sep 2024

PDF
Rev
74 Cr
-3% YoY+9% QoQ
OPM2.5%
NPM0.8%
PAT
+89% YoY1 Cr
EPS
+105% YoY0.0

Jun 2024

PDF
Rev
68 Cr
+1% YoY-19% QoQ
OPM-9.0%
NPM-16.4%
PAT
+42% YoY-11 Cr
EPS
+41% YoY-0.2

Mar 2024

PDF
Rev
84 Cr
+77% YoY+2% QoQ
OPM3.7%
NPM-186.8%
PAT
+61% YoY-157 Cr
EPS
-231% YoY-2.8

Dec 2023

PDF
Rev
82 Cr
+11% YoY+7% QoQ
OPM0.7%
NPM-6.0%
PAT
-4% YoY-5 Cr
EPS
-13% YoY-0.1

Sep 2023

PDF
Rev
77 Cr
+3% YoY+14% QoQ
OPM-6.0%
NPM-14.4%
PAT
-126% YoY-11 Cr
EPS
-122% YoY-0.2

Jun 2023

PDF
Rev
67 Cr
-19% YoY+42% QoQ
OPM-22.0%
NPM-28.6%
PAT
-448% YoY-19 Cr
EPS
---0.3

Mar 2023

Rev
47 Cr
-40% YoY-36% QoQ
OPM-77.8%
NPM-99.8%
PAT
-7834% YoY-47 Cr
EPS
---0.8

Dec 2022

Rev
74 Cr
---1% QoQ
OPM6.9%
NPM-6.3%
PAT
-325% YoY-5 Cr
EPS
---0.1

Sep 2022

Rev
75 Cr
----
OPM0.4%
NPM-6.6%
PAT
-202% YoY-5 Cr
EPS
---0.1

Revenue & Margin Trends

Annual

Quarterly

Balance Sheet Health

Leverage

Debt / Equity0.09
Interest Coverage2.5x
Promoter Pledge0.0%
Borrowings30 Cr

Efficiency

Receivable Days99 days
Inventory Days days
Payable Days days
Cash Conversion cycle99 days

Cash Position

Operating Cash Flow10 Cr
Investing Cash Flow-15 Cr
Financing Cash Flow-12 Cr
Free Cash Flow7 Cr

Detailed Financials

Jun 2026PDF ↗
Mar 2026PDF ↗
Dec 2025PDF ↗
Sep 2025PDF ↗
Jun 2025PDF ↗
Mar 2025PDF ↗
Dec 2024PDF ↗
Sep 2024PDF ↗
Jun 2024PDF ↗
Mar 2024PDF ↗
Dec 2023PDF ↗
Sep 2023PDF ↗
Jun 2023PDF ↗
Mar 2023
Dec 2022
Sep 2022
Sales79737169667173746884827767477475
Expenses64646263628470727481818182846974
Operating Profit159964-1322-631-5-15-3750
OPM %19.0%13.0%13.0%9.0%6.0%-18.0%3.4%2.5%-9.0%3.7%0.7%-6.0%-22.0%-77.8%6.9%0.4%
Other Income5702163152-145111411
Interest1111101111111111
Depreciation3323433444444444
Profit Before Tax16136415-1403-8-147-2-8-18-381-3
Tax %14.0%22.0%49.0%32.0%13.0%25.0%916.0%79.0%34.0%7.0%105.0%36.0%7.0%25.6%451.9%49.4%
Net Profit14103313-18-31-11-157-5-11-19-47-5-5
Exceptional Items---0-5000040-148000000
EPS (Rs)0.30.20.10.10.2-0.3-0.10.0-0.2-2.8-0.1-0.2-0.3-0.8-0.1-0.1
Sales Growth (YoY)--3.3%-2.6%-7.1%-2.6%-15.8%-11.2%-3.5%1.3%77.3%11.1%3.1%-19.2%-40.0%----
Sales Growth (QoQ)--3.1%2.7%3.8%-6.0%-2.9%-2.0%8.8%-18.7%2.4%6.5%14.2%42.4%-35.8%-1.1%--
OP Growth (YoY)275.0%169.2%350.0%200.0%166.7%-533.3%100.0%140.0%60.0%108.2%-80.4%-1712.9%--------
OP Growth (QoQ)66.7%0.0%50.0%50.0%130.8%-750.0%0.0%133.3%-300.0%200.0%120.0%66.7%59.2%-822.2%1541.9%--
Profit Growth (YoY)--157.0%261.0%333.0%214.0%5.0%34.0%89.0%42.0%61.0%-4.0%-126.0%-448.0%-7834.0%-325.0%-202.0%
EPS Growth (YoY)--158.1%183.3%400.0%215.0%88.8%33.3%105.0%41.2%-230.9%-12.5%-122.2%--------
EPS Growth (QoQ)--260.0%0.0%-78.3%174.2%-416.7%-700.0%105.0%92.8%-2988.9%55.0%41.2%59.5%-950.0%11.1%--
OP Margin--12.6%12.8%9.1%5.9%-18.4%3.4%2.5%-8.9%3.7%0.7%-6.0%-21.9%-77.8%6.9%0.4%
Net Margin--13.6%4.1%4.2%19.3%-24.9%-4.5%0.8%-16.4%-186.8%-6.0%-14.4%-28.6%-99.8%-6.3%-6.6%
Material Cost %--------------------------------
Employee Cost %--56.0%57.0%62.0%62.0%58.0%64.0%68.0%70.0%58.0%64.0%71.0%81.0%105.0%64.0%70.0%
P/S3.592.772.231.85------------------------
P/E35.2127.00548.50--------------------------
P/B3.062.261.911.59------------------------

Shareholding Pattern

Shareholders:3.5L (-3.4%)
Current MixDec 2025

Exchange Filings

50
Company Update21 Aug 2026

Subex secured a new-logo from a major European open -access fibre operator to deploy the Company's Partner Ecosystem Management Solutions.

Company Update18 Aug 2026

Investor Presentation for Analyst / Institutional Investor meeting

Company Update15 Aug 2026

Intimation of Schedule of Analyst/ Institutional Investor meet - Non-Deal Roadshow

Company Update14 Aug 2026

Newspaper Publication - Postal Ballot

AGM/EGM13 Aug 2026

Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015 - Postal Ballot Notice

Company Update07 Aug 2026

Transcript of Earnings Call

Company Update06 Aug 2026

Audio Recording of the Earnings Call for the quarter ended June 30, 2026

Result05 Aug 2026

Unaudited Financial Results (Standalone & Consolidated) for the quarter ended June 30, 2026

Board Meeting05 Aug 2026

Unaudited Financial Results (Standalone & Consolidated) for the quarter ended June 30, 2026

AGM/EGM04 Aug 2026

Summary of Proceedings of the 32nd Annual General Meeting held on August 04, 2026

AGM/EGM04 Aug 2026

Disclosure under Regulation 44(3) of SEBI(LODR) Regulations, 2015 - Scrutinizer''s Report & Voting Results

Company Update14 Jul 2026

Newspaper Advertisement - Notice of 32nd Annual General Meeting of Subex Limited

Others13 Jul 2026

Business Responsibility and Sustainability Report for the financial year 2025-26

Others13 Jul 2026

Annual Report for the financial year 2025-26

AGM/EGM13 Jul 2026

Notice of 32nd Annual General Meeting ('AGM') And Annual Report 2025-26

Company Update06 Jul 2026

Earnings Call for the quarter ended June 30, 2026

Board Meeting06 Jul 2026

Subex Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 05/08/2026 ,inter alia, to consider and approve the financial results for the period ....

Company Update02 Jul 2026

Newspaper Advertisement - 32nd Annual General Meeting of Subex Limited

Company Update02 Jul 2026

Certificate under Regulation 74(5) of the SEBI (DP) Regulations, 2018 for the quarter ended June 30, 2026.

Company Update01 Jul 2026

32nd Annual general Meeting will be held on Tuesday, 4th August 2026 at 2:00 PM. The Cut-off date is Tuesday, 28 July 2026

Insider Trading / SAST29 Jun 2026

Closure of Trading Window

Company Update24 Jun 2026

Intimation of Schedule of Analyst / Institutional Investor / Shareholder meeting

Company Update08 Jun 2026

Intimation of Schedule of Analyst/ Institutional Investor meet - Non-Deal Roadshow

Company Update28 May 2026

Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Imposition of fine by Stock Exchanges

Company Update21 May 2026

Secretarial Compliance Report for the year ended March 31, 2026

Company Update21 May 2026

Engagement with a leading Telecom operator in North Africa to modernize its RAFM operations

Company Update19 May 2026

Transcript of Earnings call

AGM/EGM18 May 2026

Postal Ballot Notice dated April 13, 2026 - voting results along with the Scrutinizer''s Report

Company Update14 May 2026

Newspaper publication of the Audited Financial Results for the quarter and year ended March 31, 2026

Company Update13 May 2026

Audio Recording of the Earnings Call for the quarter and year ended March 31, 2026

Result12 May 2026

Audited Standalone and Consolidated financial results for the quarter and year ended March 31, 2026

Board Meeting12 May 2026

Outcome of Board meeting dated May 12, 2026

Company Update12 May 2026

Re-appointment of Mr. Rupinder Goel for second term as an Independent Director

Company Update12 May 2026

Investor Presentation for Q4 FY26

Company Update04 May 2026

Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Receipt of income Tax Refund

Board Meeting20 Apr 2026

Subex Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 12/05/2026 ,inter alia, to consider and approve Board Meeting Intimation for The Board ....

Board Meeting20 Apr 2026

Subex Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 12/05/2026 ,inter alia, to consider and approve the Audited financial results (Standalone ....

Company Update17 Apr 2026

Newspaper publication - Postal Ballot

AGM/EGM16 Apr 2026

Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Postal Ballot Notice

Company Update08 Apr 2026

Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026.

Company Update31 Mar 2026

Grant of Options under ESOP 2025

Insider Trading / SAST30 Mar 2026

Closure of Trading window pursuant to SEBI (Provision of insider Trading) Regulations, 2015

Company Update25 Mar 2026

Appointment of Mr. Stephane Le Letty (DIN: 11628981) as an Additional Director

AGM/EGM20 Mar 2026

Postal Ballot Notice dated February 10, 2026 - Voting results along with Scrutinizer''s Report.

Company Update17 Mar 2026

A leading North African Telecom operator has chosen Subex for an Enterprise Asset Management (EAM) engagement.

Company Update11 Mar 2026

Investor Presentation

Company Update28 Feb 2026

Disclosure under Reg.30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Imposition of fine by Stock Exchanges

Company Update23 Feb 2026

Intimation of meeting with Analysts/ Insititutional Investors

Company Update19 Feb 2026

Newspaper Publication - Postal Ballot Notice

AGM/EGM17 Feb 2026

Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015 - Postal Ballot Notice

Annual Reports

14

2025

2024

2023

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

Credit Ratings

6
crisilRating update
21 Apr 2023Report
crisilRating update
12 Dec 2022Report
crisilRating update
17 Oct 2022Report
crisilRating update
22 Sept 2022Report
crisilRating update
18 Oct 2021Report
fitchRating update
13 Oct 2021Report

Concalls

32

Feb 2026

28 Feb 2026

Nov 2025

30 Nov 2025

Aug 2025

31 Aug 2025

Aug 2025

31 Aug 2025

May 2025

31 May 2025

Feb 2025

28 Feb 2025

Nov 2024

30 Nov 2024

Aug 2024

31 Aug 2024

May 2024

31 May 2024

Feb 2024

29 Feb 2024

Nov 2023

30 Nov 2023

Aug 2023

31 Aug 2023

May 2023

31 May 2023

Feb 2023

28 Feb 2023

Nov 2022

30 Nov 2022

Aug 2022

31 Aug 2022

Jun 2022

30 Jun 2022

Feb 2022

28 Feb 2022

Oct 2021

31 Oct 2021

Aug 2021

31 Aug 2021

May 2021

31 May 2021

May 2021

31 May 2021

Feb 2021

28 Feb 2021

Nov 2020

30 Nov 2020

Aug 2020

31 Aug 2020

Aug 2020

31 Aug 2020

May 2020

31 May 2020

May 2020

31 May 2020

Feb 2020

29 Feb 2020

Nov 2019

30 Nov 2019

Nov 2019

30 Nov 2019

Aug 2019

31 Aug 2019