Subex Ltd
SUBEXLTD NSE
Subex Ltd
Information TechnologyNSE: SUBEXLTD BSE: 532348 IT - Software
Key Fundamentals
MicrocapSoftware ProductsInformation TechnologyMarket Cap
₹782 Cr
Volatility
Moderate
P/E Ratio
26.19
EBITDA
₹57.50 Cr
Return on Equity
8.32%
Debt to Equity
0.08
Book Value
₹6.17
52W High
₹14.58
52W Low
₹6.61
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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45 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
1- Company is almost debt free.
Weaknesses
2- The company has delivered a poor sales growth of -5.59% over past five years.
- Company has a low return on equity of -5.29% over last 3 years.
Growth Rate
Revenue Growth
6.22% ↗
Net Income Growth
-190.76% ↘
Cash Flow Change
652.74% ↗
ROE
-180.54% ↘
ROCE
-304.21% ↘
EBITDA Margin (Avg.)
-803.42% ↘
Quarterly Results
| 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 | 67 | 77 | 82 | 84 | 68 | 74 | 73 | 71 | 66 | 69 | 71 | 73 | 79 |
| Expenses | 82 | 81 | 81 | 81 | 74 | 72 | 70 | 84 | 62 | 63 | 62 | 64 | 64 |
| Operating Profit | -15 | -5 | 1 | 3 | -6 | 2 | 2 | -13 | 4 | 6 | 9 | 9 | 15 |
| OPM % | -22% | -6% | 0.7% | 3.7% | -9% | 2.5% | 3.4% | -18% | 6% | 9% | 13% | 13% | 19% |
| Other Income | 1 | 1 | 1 | -145 | 2 | 5 | 1 | 3 | 16 | 2 | 0 | 7 | 5 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 4 | 4 | 4 | 4 | 4 | 4 | 3 | 3 | 4 | 3 | 2 | 3 | 3 |
| PBT | -18 | -8 | -2 | -147 | -8 | 3 | 0 | -14 | 15 | 4 | 6 | 13 | 16 |
| Tax % | 7% | 36% | 105% | 7% | 34% | 79% | 916% | 25% | 13% | 32% | 49% | 22% | 14% |
| Net Profit | -19 | -11 | -5 | -157 | -11 | 1 | -3 | -18 | 13 | 3 | 3 | 10 | 14 |
| EPS in Rs | -0.34 | -0.2 | -0.09 | -2.78 | -0.2 | 0.01 | -0.06 | -0.31 | 0.23 | 0.05 | 0.05 | 0.18 | 0.25 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 360 | 322 | 357 | 324 | 348 | 365 | 372 | 333 | 279 | 310 | 286 | 279 | 292 |
| Expenses | 275 | 231 | 268 | 290 | 297 | 279 | 273 | 298 | 309 | 325 | 300 | 253 | 253 |
| Operating Profit | 85 | 91 | 89 | 34 | 51 | 86 | 99 | 36 | -30 | -16 | -15 | 26 | 39 |
| OPM % | 24% | 28% | 25% | 11% | 15% | 24% | 27% | 11% | -11% | -5% | -5% | 9% | 14% |
| Other Income | -4 | -87 | -97 | 13 | 3 | -303 | 8 | 10 | 8 | -141 | 11 | 27 | 13 |
| Interest | 61 | 62 | 20 | 8 | 2 | 6 | 4 | 3 | 3 | 3 | 2 | 3 | 3 |
| Depreciation | 4 | 4 | 5 | 5 | 5 | 15 | 14 | 10 | 14 | 16 | 14 | 12 | 11 |
| PBT | 16 | -62 | -34 | 34 | 47 | -238 | 89 | 34 | -39 | -175 | -20 | 37 | 39 |
| Tax % | 36% | 21% | 29% | 40% | 46% | 13% | 42% | 38% | 31% | 10% | 59% | 24% | — |
| Net Profit | 10 | -74 | -43 | 21 | 25 | -269 | 52 | 21 | -51 | -192 | -31 | 29 | 30 |
| EPS in Rs | 0.56 | -1.48 | -0.85 | 0.37 | 0.45 | -4.79 | 0.92 | 0.37 | -0.91 | -3.4 | -0.56 | 0.51 | 0.53 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 82% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 183 | 503 | 507 | 562 | 562 | 562 | 281 | 281 | 281 | 281 | 281 | 281 |
| Reserves | 26 | 231 | 177 | 217 | 232 | -47 | 268 | 283 | 241 | 53 | 23 | 62 |
| Borrowings | 725 | 228 | 186 | 32 | 0 | 49 | 26 | 15 | 33 | 28 | 19 | 28 |
| Other Liabilities | 188 | 80 | 86 | 81 | 96 | 114 | 151 | 140 | 140 | 167 | 163 | 181 |
| Total Liabilities | 1,121 | 1,042 | 957 | 892 | 890 | 678 | 725 | 719 | 695 | 528 | 487 | 552 |
| Fixed Assets | 865 | 775 | 668 | 666 | 664 | 393 | 375 | 368 | 385 | 228 | 217 | 228 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 | 14 | 9 | 22 | 32 |
| Other Assets | 257 | 267 | 289 | 226 | 226 | 286 | 350 | 339 | 296 | 292 | 248 | 292 |
| Total Assets | 1,121 | 1,042 | 957 | 892 | 890 | 678 | 725 | 719 | 695 | 528 | 487 | 552 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 64 | 66 | 54 | 54 | 55 | 66 | 91 | -8 | 9 | -8 | 10 | 72 |
| Investing | -11 | 7 | -11 | -7 | -11 | -2 | -6 | -34 | -36 | 34 | -16 | -31 |
| Financing | -47 | -36 | -55 | -91 | -34 | -13 | -32 | -15 | -7 | -9 | -12 | -9 |
| Net Cash Flow | 6 | 37 | -12 | -44 | 9 | 51 | 53 | -58 | -33 | 17 | -19 | 32 |
| Free Cash Flow | 58 | 63 | 48 | 51 | 52 | 63 | 82 | -14 | 4 | -11 | 7 | 68 |
| CFO/OP | 86 | 85 | 74 | 204 | 127 | 94 | 106 | 41 | -48 | -36 | -124 | 146 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 110 | 126 | 121 | 105 | 90 | 92 | 98 | 106 | 118 | 120 | 99 | 122 |
| Cash Conversion Cycle | 110 | 126 | 121 | 105 | 90 | 92 | 98 | 106 | 118 | 120 | 99 | 122 |
| Working Capital Days | -69 | -128 | -96 | 51 | 60 | 62 | 69 | 110 | 71 | 44 | 52 | 70 |
| ROCE % | 9% | 7% | 10% | 4% | 6% | 13% | 16% | 6% | -6% | -5% | -6% | 13% |
Documents
1
Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015
4 May - Subex received Rs. 2.37 crore income tax refund for AY 2008-09 today. 4 May - Subex received Rs. 2.37 crore income tax refund for AY 2008-09 today.
2
Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015
4 May - Subex received Rs. 2.37 crore income tax refund for AY 2008-09 today. 4 May - Subex received Rs. 2.37 crore income tax refund for AY 2008-09 today.
3
Board Meeting Intimation for The Board Meeting Scheduled To Be Held On May 12, 2026
20 Apr - Subex board meets May 12, 2026 to approve FY26 audited results; earnings call on May 13. 20 Apr - Subex board meets May 12, 2026 to approve FY26 audited results; earnings call on May 13.
4
Update on board meeting
20 Apr - Board to meet May 12, 2026 for Q4 FY26 audited results; earnings call May 13, 2026. 20 Apr - Board to meet May 12, 2026 for Q4 FY26 audited results; earnings call May 13, 2026.
Frequently Asked Questions about Subex Ltd
What does Subex Ltd do?
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]
Where is Subex Ltd (SUBEXLTD) listed?
Subex Ltd is listed on the Indian stock exchanges. It is listed on NSE: SUBEXLTD and BSE: 532348. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Subex Ltd belong to?
Subex Ltd operates in the Information Technology sector within the IT - Software industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Subex Ltd?
Subex Ltd has a market capitalisation of approximately ₹781.75 Cr. Based on this, it is classified as a Small Cap stock.
What is the PE ratio of Subex Ltd?
The Price-to-Earnings (PE) ratio of Subex Ltd is 26.19. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Subex Ltd?
Over the past 52 weeks, Subex Ltd has traded between a low of ₹6.61 and a high of ₹14.58. This range helps investors understand the stock's price volatility and recent trading levels.
Does Subex Ltd pay dividends?
Yes, Subex Ltd has a dividend yield of 5.46%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Subex Ltd?
Subex Ltd has a Return on Equity (ROE) of 8.32%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Subex Ltd on Tapetide?
On Tapetide, you can view Subex Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
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]
Website subex.com
CEO Ms. Nisha Dutt
Employees 731
Listed 2020-11-05
Face Value ₹ 5
Issued Size 56,20,02,935