Xchanging Solutions Ltd

₹ 61.4 0.67%

04 Sep - close price

xchanging.com BSE: 532616 NSE: XCHANGING

About

Incorporated in 2002, Xchanging Solutions Ltd is an Information Technology services provider^[1]

Key Points

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

Website BSE NSE

Market Cap ₹ 684 Cr.
Current Price ₹ 61.4
High / Low ₹ 103 / 47.5
Stock P/E 18.9
Book Value ₹ 27.3
Dividend Yield 3.26 %
ROCE 13.6 %
ROE 12.4 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Company has been maintaining a healthy dividend payout of 92.4%
Debtor days have improved from 40.8 to 29.3 days.

Cons

The company has delivered a poor sales growth of 0.04% over past five years.
Tax rate seems low
Earnings include an other income of Rs.29.9 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 Computers - Software & Consulting

Part of BSE Information Technology

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	8.88	8.58	8.70	10.67	9.48	9.03	8.57	11.61	10.75	11.62	9.71	8.97	9.37
	5.74	6.27	6.89	8.71	7.73	7.93	7.23	8.17	7.60	8.53	8.01	6.22	7.30
Operating Profit	3.14	2.31	1.81	1.96	1.75	1.10	1.34	3.44	3.15	3.09	1.70	2.75	2.07
OPM %	35.36%	26.92%	20.80%	18.37%	18.46%	12.18%	15.64%	29.63%	29.30%	26.59%	17.51%	30.66%	22.09%
	186.32	5.00	199.47	7.63	5.43	3.71	3.66	3.49	3.41	20.17	3.20	3.01	3.48
Interest	0.02	0.02	0.02	0.04	0.02	0.01	0.01	0.00	0.00	0.00	0.00	0.02	0.00
Depreciation	0.15	0.15	0.12	0.12	0.12	0.11	0.04	0.02	0.01	0.00	0.00	0.00	0.00
Profit before tax	189.29	7.14	201.14	9.43	7.04	4.69	4.95	6.91	6.55	23.26	4.90	5.74	5.55
Tax %	10.39%	28.43%	8.14%	25.66%	27.84%	30.70%	-26.87%	27.93%	28.09%	-2.97%	29.18%	15.68%	28.83%
	169.62	5.11	184.76	7.01	5.08	3.25	6.28	4.98	4.71	23.95	3.47	4.84	3.95
EPS in Rs	15.23	0.46	16.58	0.63	0.46	0.29	0.56	0.45	0.42	2.15	0.31	0.43	0.35
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2014	Dec 2015	Mar 2017 15m	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	150	121	99	56	52	43	41	44	38	37	39	41	40
	140	106	113	52	39	31	32	28	28	28	31	30	30
Operating Profit	10	15	-14	4	13	12	9	16	10	9	8	11	10
OPM %	6%	13%	-14%	6%	24%	27%	22%	35%	26%	25%	20%	26%	24%
	9	12	11	10	12	16	15	8	9	398	16	30	30
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	4	4	3	1	0	1	1	1	1	1	0	0	0
Profit before tax	14	23	-6	13	24	26	22	23	19	407	24	40	39
Tax %	48%	41%	8%	57%	32%	14%	18%	3%	22%	10%	17%	9%
	7	14	-7	6	16	23	18	22	15	366	20	37	36
EPS in Rs	0.65	1.22	-0.60	0.50	1.48	2.04	1.63	1.99	1.32	32.90	1.76	3.32	3.24
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	103%	114%	60%

Compounded Sales Growth
10 Years:	-10%
5 Years:	0%
3 Years:	3%
TTM:	-1%

Compounded Profit Growth
10 Years:	11%
5 Years:	15%
3 Years:	36%
TTM:	88%

Stock Price CAGR
10 Years:	1%
5 Years:	-11%
3 Years:	-13%
1 Year:	-31%

Return on Equity
10 Years:	10%
5 Years:	13%
3 Years:	16%
Last Year:	12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2014	Dec 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	111	111	111	111	111	111	111	111	111	111	111	111
Reserves	63	77	70	76	93	116	134	156	170	203	178	193
	2	1	1	0	0	2	3	2	1	1	0	0
	75	51	56	56	52	45	44	41	39	38	35	31
Total Liabilities	252	241	238	243	256	274	292	310	322	353	325	336
	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
Investments	52	52	153	173	52	52	52	52	52	52	52	52
	193	184	83	70	204	220	239	256	269	300	273	284
Total Assets	252	241	238	243	256	274	292	310	322	353	325	336

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2014	Dec 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	9	19	11	14	9	5	13	11	10	-33	12	5
	4	6	10	9	8	17	8	7	9	412	14	30
	0	-1	-1	-1	-0	-1	-1	-1	-0	-335	-45	-22
Net Cash Flow	13	24	20	22	17	22	19	18	18	45	-18	12
Free Cash Flow	5	18	11	15	9	5	13	11	10	-33	13	5
CFO/OP	120%	156%	-94%	442%	110%	98%	194%	109%	118%	91%	157%	108%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2014	Dec 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	124	107	70	79	62	70	44	42	34	41	52	29
Inventory Days
Days Payable
Cash Conversion Cycle	124	107	70	79	62	70	44	42	34	41	52	29
Working Capital Days	26	12	-79	-207	-214	-125	-303	-178	-287	-284	-246	-217
ROCE %	11%	13%	-3%	7%	12%	12%	9%	9%	7%	33%	8%	14%

Insights

In beta

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Top Customer Revenue Concentration (Customers >10% of Total Revenue)
% of total revenue

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xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xx
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		xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx

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Total Permanent Employees
employees

USA Revenue Share
% of total revenue

Time & Material / Annual Maintenance Contract Revenue Share
% of total revenue

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
	0.11%	0.11%	0.23%	0.09%	0.08%	0.07%	0.01%	0.09%	0.00%	0.01%	0.11%	0.03%
	0.29%	0.29%	0.29%	0.29%	0.29%	0.29%	0.29%	0.29%	0.29%	0.29%	0.29%	0.17%
	24.60%	24.58%	24.47%	24.61%	24.62%	24.63%	24.70%	24.61%	24.69%	24.69%	24.60%	24.80%
No. of Shareholders	57,671	59,457	71,437	72,997	74,629	77,197	81,445	81,416	79,663	77,624	75,079	73,508

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	78.77%	78.77%	90.80%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
	0.00%	0.00%	0.00%	0.04%	0.24%	0.24%	0.05%	0.23%	0.01%	0.11%	0.03%
	0.36%	0.37%	0.36%	5.16%	4.64%	0.31%	0.31%	0.29%	0.29%	0.29%	0.17%
	20.87%	20.86%	8.84%	19.80%	20.12%	24.45%	24.63%	24.47%	24.70%	24.60%	24.80%
No. of Shareholders	16,672	15,495	14,859	16,369	20,300	59,940	54,834	71,437	81,445	75,079	73,508

* 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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Xchanging Solutions Ltd

Xchanging Solutions Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

Documents

Announcements

Annual reports

Concalls