Xchanging Solutions Ltd
Incorporated in 2002, Xchanging Solutions Ltd is an Information Technology services provider[1]
- Market Cap ₹ 1,031 Cr.
- Current Price ₹ 92.5
- High / Low ₹ 122 / 79.2
- Stock P/E 25.8
- Book Value ₹ 26.6
- Dividend Yield 2.16 %
- ROCE 7.80 %
- ROE 6.48 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 72.4%
Cons
- The company has delivered a poor sales growth of -1.95% over past five years.
- Earnings include an other income of Rs.30.7 Cr.
- Debtor days have increased from 42.2 to 52.4 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
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2013 | Dec 2014 | Dec 2015 | Mar 2017 15m | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 112 | 150 | 121 | 99 | 56 | 52 | 43 | 41 | 44 | 38 | 37 | 39 | 43 | |
| 99 | 140 | 106 | 113 | 52 | 39 | 31 | 32 | 28 | 28 | 28 | 31 | 32 | |
| Operating Profit | 13 | 10 | 15 | -14 | 4 | 13 | 12 | 9 | 16 | 10 | 9 | 8 | 11 |
| OPM % | 12% | 6% | 13% | -14% | 6% | 24% | 27% | 22% | 35% | 26% | 25% | 20% | 26% |
| 20 | 9 | 12 | 11 | 10 | 12 | 16 | 15 | 8 | 9 | 398 | 16 | 31 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 4 | 4 | 4 | 3 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 0 | 0 |
| Profit before tax | 29 | 14 | 23 | -6 | 13 | 24 | 26 | 22 | 23 | 19 | 407 | 24 | 42 |
| Tax % | 26% | 48% | 41% | 8% | 57% | 32% | 14% | 18% | 3% | 22% | 10% | 17% | |
| 22 | 7 | 14 | -7 | 6 | 16 | 23 | 18 | 22 | 15 | 366 | 20 | 40 | |
| EPS in Rs | 1.93 | 0.65 | 1.22 | -0.60 | 0.50 | 1.48 | 2.04 | 1.63 | 1.99 | 1.32 | 32.90 | 1.76 | 3.58 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 103% | 114% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | -13% |
| 5 Years: | -2% |
| 3 Years: | -4% |
| TTM: | 12% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | -3% |
| 3 Years: | -4% |
| TTM: | -52% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 6% |
| 3 Years: | 7% |
| 1 Year: | -17% |
| Return on Equity | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 12% |
| 3 Years: | 14% |
| Last Year: | 6% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2013 | Dec 2014 | Dec 2015 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 |
| Reserves | 56 | 63 | 77 | 70 | 76 | 93 | 116 | 134 | 156 | 170 | 203 | 178 | 185 |
| 2 | 2 | 1 | 1 | 0 | 0 | 2 | 3 | 2 | 1 | 1 | 0 | 0 | |
| 71 | 75 | 51 | 56 | 56 | 52 | 45 | 44 | 41 | 39 | 38 | 35 | 33 | |
| Total Liabilities | 241 | 252 | 241 | 238 | 243 | 256 | 274 | 292 | 310 | 322 | 353 | 325 | 329 |
| 7 | 7 | 5 | 2 | 0 | 0 | 2 | 2 | 2 | 2 | 1 | 0 | 0 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 59 | 52 | 52 | 153 | 173 | 52 | 52 | 52 | 52 | 52 | 52 | 52 | 52 |
| 175 | 193 | 184 | 83 | 70 | 204 | 220 | 239 | 256 | 269 | 300 | 273 | 277 | |
| Total Assets | 241 | 252 | 241 | 238 | 243 | 256 | 274 | 292 | 310 | 322 | 353 | 325 | 329 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2013 | Dec 2014 | Dec 2015 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 | 9 | 19 | 11 | 14 | 9 | 5 | 13 | 11 | 10 | -33 | 13 | |
| -8 | 4 | 6 | 10 | 9 | 8 | 17 | 8 | 7 | 9 | 412 | 14 | |
| 0 | 0 | -1 | -1 | -1 | -0 | -1 | -1 | -1 | -0 | -335 | -45 | |
| Net Cash Flow | 24 | 13 | 24 | 20 | 22 | 17 | 22 | 19 | 18 | 18 | 45 | -18 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2013 | Dec 2014 | Dec 2015 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 139 | 124 | 107 | 70 | 79 | 62 | 70 | 44 | 42 | 34 | 41 | 52 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 139 | 124 | 107 | 70 | 79 | 62 | 70 | 44 | 42 | 34 | 41 | 52 |
| Working Capital Days | 58 | 26 | 12 | -79 | -207 | -214 | -125 | -303 | -178 | -287 | -284 | -246 |
| ROCE % | 17% | 11% | 13% | -3% | 7% | 12% | 12% | 9% | 9% | 7% | 33% | 8% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Newspaper Publication 31 Oct
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Financial Results
30 Oct - Q2 30/09/2025: Consolidated revenue Rs5,281 lakh; profit Rs1,626 lakh; cash Rs30,322 lakh.
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Board Meeting Outcome for Outcome Of The Board Meeting
30 Oct - Board approved unaudited Q2 and H1 results to Sept 30, 2025; standalone Q2 PAT ₹2,395L, consolidated Q2 PAT ₹1,626L.
-
Board Meeting Intimation for Consideration And Approval Of Un-Audited (Standalone & Consolidated) Financial Results Of The Company For The Quarter And Six Months Ended September 30, 2025.
17 Oct - Board meeting Oct 30 to approve unaudited Q2/half-year results ended Sept 30, 2025; trading window closed.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 15 Oct
Annual reports
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Financial Year 2025
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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 2015
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Financial Year 2014
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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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Financial Year 2010
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Business Overview:[1]
XSL is in the business of providing IT Software, IT Hardware & ITES, and computer programming services, with operations in India and abroad