Subex Ltd

Subex Ltd

₹ 30.0 2.46%
28 Mar 4:01 p.m.
About

Founded in 1992, it is a software product company which works in the space of Digital Trust i.e. it is focussed on privacy, security, risk mitigation, predictability and confidence in data mainly in the telecommunication space focusing on products to communications Service Providers(CSPs) globally. [1]

Key Points

Products based on Digital trust
Digital Trust is a concept that enables users to carry out business transactions in a safe, secure, ethical, and reliable manner. [1]

Some of the products the co. is offering are Revenue Assurance, Network Analytics, Fraud Management, Identity Analytics, Partner Ecosystem Management, IoT Security, Analytics Center of Trust, and Anomaly Detection. [2]

  • Market Cap 1,690 Cr.
  • Current Price 30.0
  • High / Low 45.8 / 25.6
  • Stock P/E
  • Book Value 6.94
  • Dividend Yield 0.00 %
  • ROCE -16.5 %
  • ROE -15.1 %
  • Face Value 5.00

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Debtor days have improved from 200 to 145 days.

Cons

  • Stock is trading at 4.33 times its book value
  • Company has low interest coverage ratio.
  • Company has a low return on equity of -3.08% 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
2.22 16.91 15.69 15.59 20.78 16.30 79.43 74.42 70.19 49.48 64.91 66.86 72.20
3.32 13.44 13.88 14.64 21.27 22.64 88.67 82.42 70.57 97.10 79.63 78.24 77.09
Operating Profit -1.10 3.47 1.81 0.95 -0.49 -6.34 -9.24 -8.00 -0.38 -47.62 -14.72 -11.38 -4.89
OPM % -49.55% 20.52% 11.54% 6.09% -2.36% -38.90% -11.63% -10.75% -0.54% -96.24% -22.68% -17.02% -6.77%
2.88 8.82 1.31 0.00 0.02 0.02 0.41 0.91 0.44 0.66 0.57 0.39 0.29
Interest 0.01 0.01 0.02 0.04 0.03 0.03 0.21 0.73 0.71 0.65 0.65 0.59 0.57
Depreciation 0.52 0.42 0.41 0.42 0.41 0.39 2.03 3.25 3.29 3.30 3.34 3.68 3.26
Profit before tax 1.25 11.86 2.69 0.49 -0.91 -6.74 -11.07 -11.07 -3.94 -50.91 -18.14 -15.26 -8.43
Tax % -3.20% 2.45% 0.00% 0.00% 0.00% 0.00% 104.16% 0.00% -25.63% -4.50% -3.80% -4.19% -16.25%
1.29 11.57 2.69 0.49 -0.91 -6.74 0.46 -11.07 -4.95 -53.20 -18.83 -15.90 -9.80
EPS in Rs 0.02 0.21 0.05 0.01 -0.02 -0.12 0.01 -0.20 -0.09 -0.94 -0.33 -0.28 -0.17
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
329 266 294 306 296 324 180 19 11 55 68 274 253
242 233 250 280 301 278 170 38 17 24 71 342 332
Operating Profit 87 32 44 25 -5 47 9 -18 -6 31 -3 -68 -79
OPM % 26% 12% 15% 8% -2% 14% 5% -96% -59% 56% -4% -25% -31%
-41 -15 -12 2 -146 -33 5 0 -192 -2 0 2 2
Interest 40 49 58 52 51 15 5 0 0 0 0 2 2
Depreciation 4 2 2 3 3 3 7 6 6 2 2 12 14
Profit before tax 2 -35 -28 -27 -205 -4 2 -25 -205 27 -4 -80 -93
Tax % -18% 0% -5% -6% -3% -59% 83% 0% -1% 1% 0% 14%
2 -35 -30 -28 -210 -7 0 -25 -206 26 -4 -69 -98
EPS in Rs 0.35 -2.07 -1.77 -1.55 -4.18 -0.13 0.01 -0.44 -3.66 0.47 -0.08 -1.22 -1.72
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 161% 0% 0%
Compounded Sales Growth
10 Years: 0%
5 Years: 9%
3 Years: 194%
TTM: 5%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -338%
Stock Price CAGR
10 Years: 13%
5 Years: 39%
3 Years: -4%
1 Year: 17%
Return on Equity
10 Years: -3%
5 Years: -2%
3 Years: -3%
Last Year: -15%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 69 167 167 183 503 507 562 562 562 281 281 281 281
Reserves 140 169 107 106 134 130 180 149 -62 221 208 143 110
586 657 691 650 153 109 0 0 3 0 0 30 29
663 483 593 569 485 179 9 33 48 77 54 152 175
Total Liabilities 1,459 1,475 1,557 1,508 1,276 925 751 745 551 579 544 606 595
5 3 3 6 4 5 56 50 12 9 7 41 38
CWIP 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 772 772 772 772 718 657 644 644 476 476 428 346 346
682 700 782 730 554 263 51 51 64 95 109 220 212
Total Assets 1,459 1,475 1,557 1,508 1,276 925 751 745 551 579 544 606 595

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
26 -24 37 49 35 59 62 -1 -13 1 -19 45
24 -2 3 -5 -2 -5 -75 -0 16 25 33 -24
-50 27 -40 -44 -33 -54 13 -0 -1 -27 -10 -5
Net Cash Flow -0 1 -0 1 1 -0 1 -1 3 0 4 16

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 662 711 708 624 613 213 28 160 310 145 311 145
Inventory Days
Days Payable
Cash Conversion Cycle 662 711 708 624 613 213 28 160 310 145 311 145
Working Capital Days -532 97 65 80 27 29 11 -466 -682 -94 87 -36
ROCE % 11% 3% 5% 3% -1% 7% 0% -3% 2% 6% -1% -16%

Shareholding Pattern

Numbers in percentages

98 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
0.01% 0.17% 0.26% 0.60% 0.80% 0.92% 0.96% 0.81% 0.99% 0.84% 0.91% 1.30%
0.03% 0.04% 0.03% 0.01% 0.01% 0.02% 0.01% 0.01% 0.01% 0.01% 0.09% 0.12%
96.43% 96.78% 96.94% 96.74% 96.83% 96.91% 96.88% 97.15% 97.03% 97.36% 97.43% 97.05%
3.54% 3.01% 2.77% 2.64% 2.36% 2.16% 2.14% 2.03% 1.98% 1.79% 1.56% 1.53%
No. of Shareholders 1,57,0612,74,4653,37,5903,37,3733,58,6343,63,0973,95,3633,80,8153,57,8623,44,4033,39,8063,36,664

* 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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Documents

Concalls