Route Mobile
Route Mobile
TelecomKey Fundamentals
MicrocapTelecom ServicesTelecomTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
4- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 1.12 times its book value
- Company has been maintaining a healthy dividend payout of 23.0%
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 69d agoRoute Mobile Ltd is a CPaaS provider trading at a market cap of ₹3,447 crore with a PE of 13.6x. FY25 consolidated revenue grew 13.7% YoY to ₹4,576 crore, but PAT declined 14% to ₹334 crore from ₹389 crore in FY24. The stock has corrected 46% over the past year despite the company remaining virtually debt-free.
- Virtually debt-free balance sheet with debt-to-equity near zero, providing financial flexibility and low interest burden (FY25 interest cost just ₹41 crore on ₹4,576 crore revenue)
- Attractive valuation at PE of 13.6x versus historical 5-year profit CAGR of 19%, suggesting earnings growth has not been fully priced in
- FY25 revenue grew 13.7% YoY to ₹4,576 crore with 156 billion billable transactions processed, demonstrating scale
- Long-term sales CAGR of 28% over 10 years and 26% over 5 years reflects a structural growth trajectory in the CPaaS industry
- Consistent dividend payout averaging 23% with current yield of 1.63%, providing income while the company reinvests for growth
- Global diversification serving 40,000+ customers across enterprises, OTT players, and mobile network operators reduces single-market risk
- FY26 gross profit margin expanded to 22.9-24.5% range versus 19.3% in prior year Q4, indicating improving unit economics
- Price-to-book of 1.26x is low for a technology platform business, suggesting limited downside from asset value perspective
- Stock has declined 46% over 1 year and compounded at -30% CAGR over 3 years, reflecting sustained loss of market confidence
- PAT fell 14% in FY25 to ₹334 crore from ₹389 crore in FY24, and Q4 FY25 profit dropped 37% YoY to ₹60 crore, showing earnings deterioration
- TTM revenue growth has turned negative at -4% and TTM profit growth is -2%, indicating recent momentum has stalled
- 3-year compounded profit growth is 0%, meaning the company has delivered no earnings growth over a meaningful period despite revenue expansion
- ROE has declined from a 10-year average of 17% to 12% in the latest year, signalling deteriorating capital efficiency
- Operating profit margin remains thin at around 11-12% (FY25 OPM 11.42%), leaving limited buffer if pricing pressure intensifies in the competitive CPaaS market
- EPS declined from ₹59.74 in FY24 to ₹50.61 in FY25, a 15% drop, compressing per-share earnings despite top-line growth
- Other income swung to negative ₹82 crore in FY26 from positive ₹28 crore in FY25, introducing earnings volatility from non-operating items
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 69d ago- Truecaller partnership, 500M users Jul 1
Route Mobile partnered with Truecaller to expand business messaging reach to over 500 million users globally, strengthening its CPaaS distribution.
- Masivian CEO resigns Jul 1
Route Mobile accepted the resignation of Erwin Viertel as CEO of Masivian S.A.S. effective June 30, 2026, citing personal commitments.
- Fair Disclosure Code amended Jun 29
Board approved the amended Fair Disclosure Code for UPSI on June 29, 2026, ensuring continued compliance with SEBI regulations.
TL;DR: Route Mobile is expanding its messaging ecosystem through a high-profile Truecaller partnership reaching 500M+ users, which could materially boost volumes. No material headwinds emerged this week; leadership change at subsidiary Masivian bears watching but appears routine. The trend is mildly positive with the partnership signaling continued platform growth.
Quarterly Results
| Particulars | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 967 | 1,015 | 1,024 | 1,017 | 1,103 | 1,113 | 1,184 | 1,175 | 1,051 | 1,119 | 1,107 | 1,131 | 1,152 |
| Expenses | 840 | 886 | 899 | 892 | 980 | 978 | 1,054 | 1,053 | 957 | 983 | 961 | 995 | 1,046 |
| Operating Profit | 127 | 128 | 125 | 125 | 124 | 135 | 130 | 122 | 94 | 136 | 146 | 136 | 105 |
| OPM % | 13% | 13% | 12% | 12% | 11% | 12% | 11% | 10% | 9% | 12% | 13% | 12% | 9% |
| Other Income | 11 | 4 | 35 | 13 | 11 | 39 | 9 | -13 | 11 | -109 | 13 | 28 | 11 |
| Interest | 7 | 7 | 6 | 8 | 9 | 14 | 9 | 8 | 6 | 2 | 1 | 1 | 1 |
| Depreciation | 21 | 21 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 23 | 23 | 24 | 24 |
| PBT | 110 | 104 | 132 | 109 | 103 | 137 | 107 | 79 | 77 | 2 | 135 | 139 | 91 |
| Tax % | 17% | 15% | 14% | 13% | 21% | 22% | 20% | 24% | 23% | 1042% | 24% | 18% | 25% |
| Net Profit | 92 | 88 | 114 | 95 | 81 | 107 | 85 | 60 | 59 | -19 | 103 | 114 | 69 |
| EPS in Rs | 14.8 | 14.18 | 16.89 | 14.03 | 12.51 | 16.08 | 13.09 | 8.98 | 8.45 | -3.37 | 15.51 | 17.35 | 9.94 |
Profit & Loss
| Particulars | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 367 | 458 | 505 | 845 | 956 | 1,406 | 2,002 | 3,569 | 4,023 | 4,576 | 4,408 | 4,509 |
| Expenses | 288 | 375 | 433 | 758 | 855 | 1,231 | 1,782 | 3,124 | 3,510 | 4,046 | 3,866 | 3,985 |
| Operating Profit | 80 | 82 | 72 | 87 | 101 | 175 | 220 | 445 | 514 | 529 | 542 | 524 |
| OPM % | 22% | 18% | 14% | 10% | 11% | 12% | 11% | 12% | 13% | 12% | 12% | 12% |
| Other Income | 4 | 5 | 5 | 8 | -3 | 16 | 20 | 39 | 57 | 28 | -84 | -57 |
| Interest | 1 | 1 | 7 | 12 | 6 | 4 | 7 | 22 | 30 | 42 | 13 | 6 |
| Depreciation | 3 | 5 | 12 | 17 | 23 | 26 | 38 | 82 | 86 | 89 | 92 | 93 |
| PBT | 80 | 81 | 57 | 65 | 69 | 162 | 195 | 382 | 455 | 426 | 353 | 368 |
| Tax % | 22% | 25% | 17% | 15% | 16% | 18% | 13% | 13% | 15% | 22% | 27% | — |
| Net Profit | 63 | 61 | 48 | 56 | 58 | 133 | 170 | 333 | 389 | 334 | 257 | 267 |
| EPS in Rs | 31.37 | 12.13 | 9.74 | 11.38 | 11.65 | 23.1 | 26.36 | 52.38 | 59.74 | 50.61 | 37.94 | 39.43 |
| Div. Payout % | 35% | 0% | 15% | 13% | 13% | 9% | 19% | 21% | 18% | 22% | 29% | — |
Balance Sheet
| Particulars | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 20 | 50 | 50 | 50 | 50 | 58 | 63 | 62 | 63 | 63 | 63 |
| Reserves | 50 | 77 | 121 | 173 | 219 | 594 | 1,610 | 1,758 | 2,087 | 2,369 | 2,707 |
| Borrowings | 0 | 18 | 84 | 79 | 53 | 20 | 16 | 140 | 378 | 468 | 42 |
| Other Liabilities | 158 | 55 | 168 | 185 | 302 | 350 | 964 | 916 | 934 | 912 | 720 |
| Total Liabilities | 228 | 200 | 423 | 487 | 625 | 1,022 | 2,653 | 2,877 | 3,462 | 3,812 | 3,531 |
| Fixed Assets | 9 | 33 | 182 | 170 | 176 | 193 | 952 | 953 | 898 | 818 | 890 |
| CWIP | 1 | 0 | 0 | 2 | 0 | 1 | 0 | 15 | 26 | 32 | 8 |
| Investments | 0 | 0 | 0 | 11 | 12 | 13 | 13 | 20 | 15 | 16 | 17 |
| Other Assets | 218 | 167 | 241 | 304 | 438 | 815 | 1,688 | 1,889 | 2,523 | 2,946 | 2,617 |
| Total Assets | 228 | 200 | 423 | 487 | 625 | 1,022 | 2,653 | 2,877 | 3,462 | 3,812 | 3,531 |
Cash Flow
| Particulars | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 203 | -60 | 28 | 23 | 98 | 222 | 135 | 73 | -98 | 602 | 581 |
| Investing | -35 | -19 | -132 | 0 | 1 | -225 | -821 | 111 | -2 | -261 | -16 |
| Financing | -33 | 18 | 46 | -17 | -67 | 211 | 824 | -108 | 158 | -34 | -535 |
| Net Cash Flow | 135 | -61 | -57 | 6 | 32 | 208 | 137 | 76 | 59 | 308 | 30 |
| Free Cash Flow | 197 | -78 | 22 | 25 | 91 | 214 | 117 | 35 | -133 | 583 | 555 |
| CFO/OP | 280 | -41 | 51 | 34 | 116 | 137 | 82 | 24 | -4 | 132 | 131 |
Ratios
| Particulars | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 22 | 26 | 70 | 63 | 78 | 56 | 94 | 72 | 97 | 74 | 75 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — | — |
| Cash Conversion Cycle | 22 | 26 | 70 | 63 | 78 | 56 | 94 | 72 | 97 | 74 | 75 |
| Working Capital Days | -130 | -26 | -93 | -36 | -22 | -17 | -6 | 11 | 29 | 7 | 40 |
| ROCE % | — | 76% | 32% | 28% | 29% | 33% | 17% | 22% | 21% | 18% | 17% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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61 extracted metrics + investor summaries across FY16–FY27.
Documents
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Company Information
Route Mobile Limited is a cloud communications platform service provider catering to enterprises, OTT players, and mobile network operators (MNOs). RML's portfolio comprises solutions in Business Messaging, Voice, Email, SMS filtering, analytics, and monetization.[1] Route Mobile Became a part of Proximus Group in May'24[2]
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