R Systems International Ltd
R Systems is a leading provider of technology, artificial intelligence, analytics and knowledge services. It partners with customers to enable or elevate their digital transformation with diversified digital offerings including product engineering, cloud enablement, quality assurance testing and digital platforms and solutions. [1][2]
- Market Cap ₹ 2,866 Cr.
- Current Price ₹ 242
- High / Low ₹ 497 / 214
- Stock P/E 12.4
- Book Value ₹ 66.9
- Dividend Yield 5.17 %
- ROCE 19.5 %
- ROE 24.4 %
- Face Value ₹ 1.00
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 23.4%
- Company has been maintaining a healthy dividend payout of 69.4%
Cons
- Company might be capitalizing the interest cost
- Debtor days have increased from 61.6 to 76.5 days.
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Mar 2020 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 605 | 588 | 593 | 700 | 809 | 809 | 881 | 1,156 | 1,516 | 1,685 | 1,742 | 1,958 | 2,091 | |
| 533 | 518 | 560 | 643 | 736 | 736 | 764 | 995 | 1,316 | 1,432 | 1,485 | 1,652 | 1,754 | |
| Operating Profit | 73 | 71 | 33 | 57 | 73 | 73 | 116 | 161 | 200 | 252 | 257 | 307 | 336 |
| OPM % | 12% | 12% | 6% | 8% | 9% | 9% | 13% | 14% | 13% | 15% | 15% | 16% | 16% |
| 70 | 17 | 16 | 19 | 15 | 15 | 11 | 42 | 10 | 11 | 8 | 29 | 47 | |
| Interest | 1 | 1 | 0 | 0 | 2 | 2 | 6 | 5 | 5 | 9 | 8 | 14 | 22 |
| Depreciation | 14 | 12 | 13 | 14 | 15 | 15 | 26 | 28 | 35 | 54 | 65 | 66 | 73 |
| Profit before tax | 128 | 76 | 35 | 63 | 72 | 72 | 96 | 170 | 170 | 200 | 192 | 255 | 288 |
| Tax % | 23% | 29% | 36% | 19% | 19% | 19% | 15% | 17% | 18% | 30% | 32% | 27% | |
| 98 | 54 | 23 | 51 | 58 | 58 | 82 | 141 | 140 | 140 | 131 | 186 | 213 | |
| EPS in Rs | 7.71 | 4.33 | 1.82 | 4.12 | 4.83 | 4.86 | 6.84 | 11.96 | 11.81 | 11.84 | 11.09 | 15.73 | 17.99 |
| Dividend Payout % | 51% | 0% | 0% | 14% | 31% | 0% | 0% | 48% | 55% | 57% | 113% | 38% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 17% |
| 3 Years: | 9% |
| TTM: | 18% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 16% |
| 3 Years: | 7% |
| TTM: | 62% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 17% |
| 5 Years: | 8% |
| 3 Years: | -19% |
| 1 Year: | -45% |
| Return on Equity | |
|---|---|
| 10 Years: | 23% |
| 5 Years: | 25% |
| 3 Years: | 23% |
| Last Year: | 24% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Mar 2020 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 13 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| Reserves | 230 | 266 | 259 | 311 | 326 | 326 | 415 | 448 | 534 | 600 | 612 | 780 |
| 1 | 2 | 2 | 2 | 6 | 5 | 23 | 58 | 77 | 131 | 73 | 410 | |
| 111 | 103 | 119 | 119 | 148 | 149 | 200 | 174 | 210 | 572 | 519 | 901 | |
| Total Liabilities | 356 | 383 | 392 | 443 | 493 | 493 | 650 | 692 | 833 | 1,315 | 1,216 | 2,102 |
| 80 | 80 | 46 | 45 | 72 | 72 | 111 | 127 | 156 | 627 | 571 | 1,125 | |
| CWIP | 0 | 3 | 0 | 2 | 2 | 2 | 0 | 0 | 3 | 0 | 4 | 0 |
| Investments | 41 | 26 | 22 | 20 | 34 | 34 | 13 | 13 | 14 | 0 | 0 | 0 |
| 235 | 274 | 323 | 377 | 384 | 385 | 526 | 552 | 661 | 688 | 641 | 977 | |
| Total Assets | 356 | 383 | 392 | 443 | 493 | 493 | 650 | 692 | 833 | 1,315 | 1,216 | 2,102 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Mar 2020 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 45 | 44 | 37 | 31 | 64 | 125 | 87 | 96 | 211 | 235 | 220 | ||
| 41 | 11 | -58 | -31 | 8 | -32 | 19 | -8 | -219 | 14 | -311 | ||
| -113 | -19 | -1 | -9 | -46 | 10 | -116 | -86 | -41 | -216 | 209 | ||
| Net Cash Flow | -27 | 35 | -22 | -9 | 26 | 103 | -9 | 2 | -49 | 33 | 118 | |
| Free Cash Flow | 29 | 30 | -29 | -15 | 46 | 108 | 60 | 61 | 193 | 224 | 213 | |
| CFO/OP | 111% | 93% | 159% | 78% | 106% | 126% | 72% | 68% | 105% | 116% | 98% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Mar 2020 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 63 | 67 | 74 | 71 | 60 | 60 | 54 | 56 | 62 | 54 | 54 | 77 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 63 | 67 | 74 | 71 | 60 | 60 | 54 | 56 | 62 | 54 | 54 | 77 |
| Working Capital Days | 22 | 32 | 26 | 55 | 38 | 54 | 40 | 41 | 45 | 1 | 27 | 21 |
| ROCE % | 30% | 27% | 13% | 21% | 22% | 22% | 26% | 36% | 31% | 26% | 21% | 19% |
Insights
In beta| Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| DSO (Billed Receivables) days |
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| North America Revenue Share % of revenue |
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| Top 10 Client Concentration % of revenue |
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| Total Billable Associates (Headcount) associates |
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| Voluntary Attrition (Permanent Employees) % ・Standalone data |
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| Blended Utilization % |
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| Repeat Business % of revenue |
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Extracted by Screener AI
Documents
Announcements
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 9 Jul
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Announcement under Regulation 30 (LODR)-Credit Rating
7 Jul - CRISIL reaffirmed R Systems’ AA-/Stable rating for bank loans and Rs. 275 crore NCDs.
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REMINDER TO SHAREHOLDERS HOLDING SHARES IN PHYSICAL MODE REGARDING MANDATORY FURNISHING OF PAN, KYC AND BANK DETAILS
29 Jun - Reminder to physical shareholders to update PAN, KYC and bank details per SEBI circular.
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Announcement under Regulation 30 (LODR)-Allotment
27 Jun - Approved allotment of 6,213 equity shares on RSU exercise; paid-up capital rose to INR 118,492,688.
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Closure of Trading Window
26 Jun - Trading window closes from July 1, 2026 until 48 hours after June quarter results.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2024
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Financial Year 2023
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Financial Year 2023
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Financial Year 2022
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Financial Year 2022
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Financial Year 2021
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Financial Year 2021
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Financial Year 2020
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Financial Year 2020
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Financial Year 2019
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Financial Year 2019
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Financial Year 2018
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Financial Year 2018
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Concalls
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May 2026Transcript PPT
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Feb 2026Transcript PPT
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Nov 2025Transcript PPT REC
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Nov 2024Transcript PPT REC
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Aug 2024Transcript PPT
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May 2024Transcript PPT
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May 2024TranscriptAI SummaryPPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Mar 2023Transcript PPT
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Dec 2022TranscriptPPT
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May 2022Transcript PPT
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Mar 2022TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
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Aug 2021TranscriptAI SummaryPPT
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May 2021TranscriptAI SummaryPPT
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Mar 2021TranscriptAI SummaryPPT
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Nov 2020TranscriptAI SummaryPPT
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Aug 2020TranscriptAI SummaryPPT
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May 2020TranscriptAI SummaryPPT
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Feb 2020TranscriptAI SummaryPPT
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Nov 2019TranscriptAI SummaryPPT
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Aug 2019TranscriptAI SummaryPPT
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May 2019TranscriptAI SummaryPPT
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Mar 2019TranscriptAI SummaryPPT
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Nov 2018TranscriptAI SummaryPPT
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Aug 2018TranscriptAI SummaryPPT
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May 2018TranscriptAI SummaryPPT
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Feb 2018TranscriptAI SummaryPPT
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Nov 2017TranscriptAI SummaryPPT
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Aug 2017TranscriptAI SummaryPPT
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May 2017TranscriptAI SummaryPPT
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Feb 2017TranscriptAI SummaryPPT
Business Segments[1]
a) Information Technology Services (91% in Q1 CY26 vs 89% in Q1 CY25): [2]
The company’s core offerings include software product engineering, cloud and DevOps, data and AI, quality engineering, embedded systems and firmware, automation and digital operations, experience design, and application modernization.