Subex Ltd

Subex Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Subex Ltd

₹ 11.0 3.08%
22 May - close price
subex.com BSE: 532348 NSE: SUBEXLTD
About

Incorporated in 1992, Subex Ltd is a global provider of Operations and Business Support Systems to communication service providers worldwide, in the Telecom industry[1]

Key Points

Business Overview:[1][2]
a) Subex helps Communications Service Providers (CSPs) create seamless digital experiences.
b) The company serves 75% of world's top 50 telecom operators, offering solutions that enhance business operations and customer satisfaction.
c) It provides strategic consulting to global telecom carriers, assisting with advanced analytics solutions for Revenue Assurance, Fraud Management, Enterprise Asset Management, Partner Management, and Revenue Management Services (RMS) to help businesses improve efficiency and security.
d) They offer Managed Services and Business Consulting, supporting telecom providers in navigating industry challenges.
e) Through HyperSense, its AI-driven offering, Subex enables CSPs to make better decisions by leveraging artificial intelligence and analytics across the data value chain.
f) Subexy has 300+ installations and 150+ Global customers, across 100+
countries.

Website BSE NSE - BE
  • Market Cap ₹ 623 Cr.
  • Current Price ₹ 11.0
  • High / Low ₹ 17.3 / 6.61
  • Stock P/E 17.5
  • Book Value ₹ 3.04
  • Dividend Yield 0.00 %
  • ROCE 23.6 %
  • ROE 21.1 %
  • Face Value ₹ 5.00
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Pros

  • Debtor days have improved from 79.1 to 60.3 days.

Cons

  • Stock is trading at 3.63 times its book value
  • Company has a low return on equity of -13.7% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Information Technology Information Technology IT - Software Software Products

Part of BSE Information Technology

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
49.48 64.91 66.86 72.20 65.04 64.98 68.48 69.08 66.27 62.56 63.51 65.44 64.56
97.10 79.63 78.24 77.09 70.47 76.83 73.38 72.71 83.49 65.78 63.96 64.13 36.97
Operating Profit -47.62 -14.72 -11.38 -4.89 -5.43 -11.85 -4.90 -3.63 -17.22 -3.22 -0.45 1.31 27.59
OPM % -96.24% -22.68% -17.02% -6.77% -8.35% -18.24% -7.16% -5.25% -25.98% -5.15% -0.71% 2.00% 42.74%
0.66 0.57 0.39 0.29 -146.95 0.90 4.56 0.37 0.58 15.41 1.06 -0.86 -17.14
Interest 0.65 0.65 0.59 0.57 0.56 0.54 0.50 0.47 0.43 0.92 0.67 0.63 0.74
Depreciation 3.30 3.34 3.68 3.26 3.22 3.15 3.20 3.17 3.14 3.69 2.58 2.53 2.78
Profit before tax -50.91 -18.14 -15.26 -8.43 -156.16 -14.64 -4.04 -6.90 -20.21 7.58 -2.64 -2.71 6.93
Tax % 4.50% 3.80% 4.19% 16.25% 8.04% 8.88% 13.37% 6.38% 8.46% 9.37% 27.27% 24.72% 12.84%
-53.20 -18.83 -15.90 -9.80 -168.72 -15.94 -4.58 -7.34 -21.92 6.87 -3.36 -3.38 6.04
EPS in Rs -0.94 -0.33 -0.28 -0.17 -2.99 -0.28 -0.08 -0.13 -0.39 0.12 -0.06 -0.06 0.11
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
306 296 324 180 19 11 55 68 274 269 269 256
280 301 278 170 38 17 24 71 339 305 306 231
Operating Profit 25 -5 47 9 -18 -6 31 -3 -65 -36 -38 25
OPM % 8% -2% 14% 5% -96% -59% 56% -4% -24% -13% -14% 10%
2 -146 -33 5 0 -192 -2 0 2 -146 6 -2
Interest 52 51 15 5 0 0 0 0 2 2 2 3
Depreciation 3 3 3 7 6 6 2 2 12 14 13 12
Profit before tax -27 -205 -4 2 -25 -205 27 -4 -77 -198 -46 9
Tax % 6% 3% 59% 83% -0% 1% 1% 0% -11% 8% 9% 36%
-28 -210 -7 0 -25 -206 26 -4 -69 -213 -50 6
EPS in Rs -1.55 -4.18 -0.13 0.01 -0.44 -3.66 0.47 -0.08 -1.22 -3.78 -0.88 0.10
Dividend Payout % 0% 0% 0% 0% 0% 0% 161% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -1%
5 Years: 36%
3 Years: -2%
TTM: -5%
Compounded Profit Growth
10 Years: 10%
5 Years: 5%
3 Years: 36%
TTM: 166%
Stock Price CAGR
10 Years: 1%
5 Years: -28%
3 Years: -26%
1 Year: -23%
Return on Equity
10 Years: -2%
5 Years: -10%
3 Years: -14%
Last Year: 21%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 183 503 507 562 562 562 281 281 281 281 281 281
Reserves 106 134 130 180 149 -62 221 208 143 -67 -116 -109
650 153 109 0 0 3 0 0 30 25 19 26
569 485 179 9 33 48 77 54 152 107 116 147
Total Liabilities 1,508 1,276 925 751 745 551 579 544 606 347 300 344
6 4 5 56 50 12 9 7 41 31 21 30
CWIP 0 0 0 0 0 0 0 0 0 0 0 0
Investments 772 718 657 644 644 476 476 428 346 176 155 160
730 554 263 51 51 64 95 109 220 139 123 154
Total Assets 1,508 1,276 925 751 745 551 579 544 606 347 300 344

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
49 35 59 62 -1 -13 1 -19 45 -4 8 71
-5 -2 -5 -75 -0 16 25 33 -24 -2 -4 -50
-44 -33 -54 13 -0 -1 -27 -10 -5 -7 -10 -8
Net Cash Flow 1 1 -0 1 -1 3 0 4 16 -13 -6 13
Free Cash Flow 44 34 55 -0 -1 -13 1 -19 42 -7 6 67
CFO/OP 216% -810% 136% 763% -9% 192% 5% 632% -76% -1% -29% 115%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 624 613 213 28 160 310 145 311 145 102 75 60
Inventory Days
Days Payable
Cash Conversion Cycle 624 613 213 28 160 310 145 311 145 102 75 60
Working Capital Days -69 -102 -67 11 -466 -710 -95 86 -45 -36 -76 -32
ROCE % 3% -1% 7% 0% -3% 2% 6% -1% -16% -14% -23% 24%

Insights

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Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Global Presence (Countries)
Count

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Number of Customers
Count
Total Employee Headcount
Count
Annuity/Recurring Revenue as % of Total Revenue
%
Days Sales Outstanding (DSO)
Days

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
0.84% 0.91% 1.30% 1.23% 1.08% 1.06% 1.02% 1.74% 0.77% 0.77% 0.93% 1.10%
0.01% 0.09% 0.12% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
97.36% 97.43% 97.05% 97.38% 97.53% 97.57% 97.58% 96.86% 97.95% 97.94% 97.80% 97.62%
1.79% 1.56% 1.53% 1.38% 1.38% 1.38% 1.38% 1.38% 1.27% 1.27% 1.27% 1.27%
No. of Shareholders 3,44,4033,39,8063,36,6643,81,3303,75,6463,69,6363,66,3363,62,1413,59,6073,52,5413,45,8633,38,483

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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