Subex Ltd
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]
- Market Cap ₹ 721 Cr.
- Current Price ₹ 12.8
- High / Low ₹ 30.1 / 10.6
- Stock P/E
- Book Value ₹ 5.40
- Dividend Yield 0.00 %
- ROCE -6.37 %
- ROE -10.4 %
- Face Value ₹ 5.00
Pros
- Company has reduced debt.
- Company is almost debt free.
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -4.79% over past five years.
- Company has a low return on equity of -10.6% over last 3 years.
- Earnings include an other income of Rs.25.1 Cr.
* 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
340 | 360 | 322 | 357 | 324 | 348 | 365 | 372 | 333 | 279 | 310 | 286 | 284 | |
272 | 275 | 231 | 268 | 290 | 297 | 279 | 273 | 298 | 309 | 325 | 300 | 289 | |
Operating Profit | 68 | 85 | 91 | 89 | 34 | 51 | 86 | 99 | 36 | -30 | -16 | -15 | -5 |
OPM % | 20% | 24% | 28% | 25% | 11% | 15% | 24% | 27% | 11% | -11% | -5% | -5% | -2% |
-0 | -4 | -87 | -97 | 13 | 3 | -303 | 8 | 10 | 8 | -141 | 11 | 25 | |
Interest | 67 | 61 | 62 | 20 | 8 | 2 | 6 | 4 | 3 | 3 | 3 | 2 | 3 |
Depreciation | 2 | 4 | 4 | 5 | 5 | 5 | 15 | 14 | 10 | 14 | 16 | 14 | 14 |
Profit before tax | -2 | 16 | -62 | -34 | 34 | 47 | -238 | 89 | 34 | -39 | -175 | -20 | 3 |
Tax % | 416% | 36% | 21% | 29% | 40% | 46% | 13% | 42% | 38% | 31% | 10% | 59% | |
-12 | 10 | -74 | -43 | 21 | 25 | -269 | 52 | 21 | -51 | -192 | -31 | -7 | |
EPS in Rs | -0.70 | 0.56 | -1.48 | -0.85 | 0.37 | 0.45 | -4.79 | 0.92 | 0.37 | -0.91 | -3.40 | -0.56 | -0.13 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 82% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | -2% |
5 Years: | -5% |
3 Years: | -5% |
TTM: | -9% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
TTM: | 80% |
Stock Price CAGR | |
---|---|
10 Years: | 1% |
5 Years: | 5% |
3 Years: | -29% |
1 Year: | -57% |
Return on Equity | |
---|---|
10 Years: | 1% |
5 Years: | -3% |
3 Years: | -11% |
Last Year: | -10% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 167 | 183 | 503 | 507 | 562 | 562 | 562 | 281 | 281 | 281 | 281 | 281 |
Reserves | 7 | 26 | 231 | 177 | 217 | 232 | -47 | 268 | 283 | 241 | 53 | 23 |
763 | 725 | 228 | 186 | 32 | 0 | 49 | 26 | 15 | 33 | 28 | 19 | |
156 | 188 | 80 | 86 | 81 | 96 | 114 | 151 | 140 | 140 | 167 | 163 | |
Total Liabilities | 1,093 | 1,121 | 1,042 | 957 | 892 | 890 | 678 | 725 | 719 | 695 | 528 | 487 |
862 | 865 | 775 | 668 | 666 | 664 | 393 | 375 | 368 | 385 | 228 | 217 | |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 | 14 | 9 | 22 |
230 | 257 | 267 | 289 | 226 | 226 | 286 | 350 | 339 | 296 | 292 | 248 | |
Total Assets | 1,093 | 1,121 | 1,042 | 957 | 892 | 890 | 678 | 725 | 719 | 695 | 528 | 487 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
61 | 64 | 66 | 54 | 54 | 55 | 66 | 91 | -8 | 9 | -8 | 10 | |
-2 | -11 | 7 | -11 | -7 | -11 | -2 | -6 | -34 | -36 | 33 | -15 | |
-60 | -47 | -36 | -55 | -91 | -34 | -13 | -32 | -15 | -7 | -9 | -12 | |
Net Cash Flow | -2 | 6 | 37 | -12 | -44 | 9 | 51 | 53 | -58 | -33 | 15 | -17 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 108 | 110 | 126 | 121 | 105 | 90 | 92 | 98 | 106 | 118 | 120 | 99 |
Inventory Days | ||||||||||||
Days Payable | ||||||||||||
Cash Conversion Cycle | 108 | 110 | 126 | 121 | 105 | 90 | 92 | 98 | 106 | 118 | 120 | 99 |
Working Capital Days | -119 | -69 | -128 | -96 | 51 | 60 | 62 | 69 | 110 | 71 | 47 | 45 |
ROCE % | 7% | 9% | 7% | 10% | 4% | 6% | 13% | 16% | 6% | -6% | -5% | -6% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
3h - Newspaper Advertisement - 31st Annual General Meeting of Subex Limited
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Annual General Meeting Of Subex Limited And The Cut-Off Date For Determining Members' Eligibility To Vote And Attend
29 Aug - 31st AGM on Sep 29, 2025 at 11:00 IST via VC; voting cut-off Sep 22, 2025.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
18 Aug - Transcript of Earnings Call held on August 12, 2025 for the quarter ended June 30, 2025
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Announcement under Regulation 30 (LODR)-Newspaper Publication
13 Aug - Newspaper Publication of the Unaudited Financial Results for the quarter ended June 30, 2025
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Audio Recording Of The Earnings Call For The Quarter Ended June 30, 2025
12 Aug - Audio recording of Q1 FY26 earnings call available on company website.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
from nse
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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Aug 2025Transcript PPT
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Aug 2025TranscriptNotesPPT
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Nov 2024Transcript PPT
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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May 2023TranscriptNotesPPT
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Nov 2022Transcript PPT
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Jun 2022Transcript PPT
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Feb 2022TranscriptNotesPPT
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Oct 2021TranscriptNotesPPT
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Aug 2021TranscriptNotesPPT
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May 2021TranscriptNotesPPT
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May 2021TranscriptNotesPPT
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Feb 2021TranscriptNotesPPT
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Nov 2020TranscriptNotesPPT
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Aug 2020TranscriptNotesPPT
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May 2020TranscriptNotesPPT
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May 2020TranscriptNotesPPT
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Feb 2020TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
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Aug 2019TranscriptNotesPPT
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.