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Prices as of 9 Oct 2026 close · Not investment advice

Subex Limited

NSE: SUBEXLTDSoftware Products

Share price

₹19.18

+4.18% close of 9 Oct 2026

Market cap ₹1,078 CrP/E 33.3

Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.

Business score

How strong the business is, in one number. The parts behind it are in Pro.

50

out of 100 · worked out 9 Oct 2026

How the business score works

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹1,078 Cr

P/E ratio

33.3

P/B ratio

3.2

ROCE

12.8%

ROE

9.9%

Dividend yield

0.0%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 9 Oct 2026 close52-week high ₹22.0852-week low ₹6.68

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 2.9% over the past year, and -1.4% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales improved from 5.7% to 13.3% over the last four years.

Whether it grew faster than its sector

It grew -1.4% a year against a sector median of 14.5% — 15.9 percentage points slower.

Room to re-rate, or risk of de-rating

Too little price history yet to compare it with its own past.

Whether growth justifies the valuation

Priced at 0.9 times its growth rate, on earnings growth of 38%.

Profit growthPrice per ₹1 profitPer 1% growth
Subex Limited — this one38%/yr33.3×₹0.88
Oracle Financial Services Software Limited13%/yr27.1×₹2.1
Tanla Platforms Limited4%/yr12.2×₹3.0
C.E. Info Systems Limited2%/yr34.8×₹17.4
Capillary Technologies India Limited31%/yr88.9×₹2.9
TechNVision Ventures Limited0%/yr——

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Software Products), it ranks 9 of 17 on returns, 14 of 16 on growth, 11 of 17 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 12.8% on capital, ahead of 47% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹75 crore of cash from the business, spent ₹21 crore on plant and equipment, and returned ₹52 crore to lenders and shareholders. It has not made a profit over 12 years.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

7 of 10 checks clear · 70%

How the profit check works

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Announced 5 Aug 2026 · Consolidated · Unaudited

Revenue

₹79 Cr

Revenue vs last year

+20.4%

Revenue vs last quarter

+8.8%

Net profit

₹14 Cr

Profit vs last year

+9.4%

Profit vs last quarter

+42.2%

Net margin

17.9%

EPS

₹0.26

Earnings call transcript · 6 Aug 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹1,078 Cr
Prev close
₹19.18
52w High
₹22.8
52w Low
₹6.6
Enterprise value
₹980 Cr
Beta
1.6
Price CAGR 1y
59.0%
Price CAGR 3y
-14.0%
Price CAGR 5y
-19.0%
Price CAGR 10y
6.0%

Ratios

Return on assets
5.3%
PEG ratio
0.9
P/E ratio
33.3
P/B ratio
3.2
EV / EBITDA
25.1
Industry P/E
33.6
ROCE
12.8%
ROCE 5y average
0.4%
ROE
9.9%
Debt / Equity
0.1
Interest coverage
13.3
Dividend yield
0.0%
ROE 3y average
-5.0%
ROE last year
10.0%

Annual P&L

Annual revenue
₹279 Cr
Annual profit
₹29 Cr
Operating margin
9.0%
Net profit margin
10.4%
EBITDA margin
9.3%
Sales growth 3y
0.0%
Sales growth 5y
-5.6%
Profit growth 3y
38.0%
Profit growth 5y
-8.0%
EPS
₹0.5
Sales growth TTM
3.0%
Profit growth TTM
449.0%
Dividend payout
0.0%

Quarter P&L

Sales latest quarter
₹79 Cr
Profit latest quarter
₹14 Cr
YoY quarterly sales growth
19.7%
YoY quarterly profit growth
7.7%
OPM latest quarter
18.9%

Balance Sheet

Book Value
₹6.1
Face Value
₹5.0
Total debt
₹28 Cr
Total cash
₹101 Cr
Borrowings
₹28 Cr
Reserves / Equity
0.2

Cash Flow

Operating cash flow
₹72 Cr
Free cash flow
₹68 Cr
FCF yield
6.0%
Net cash flow
₹32 Cr

Shareholding

Promoter holding
0.0%
FII holding
1.1%
DII holding
0.0%
Public holding
97.7%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
Oracle Fin.Serv.10,483.8026.891,3163.841,415.5120.53,125.268.745.3
Tanla Platforms489.2512.26,4892.44142.220.11,226.417.926.3
C.E. Info System878.3034.94,8140.3949.77.9139.714.919.1
Capillary Tech.556.6586.54,4300.00-9.62949.3256.642.73.4
Technvision Ven.4,251.00889.92,6700.002.89300.073.629.913.6
Mobavenue AI Tech300.7066.42,3240.1011.794.372.957.071.6
Ramco Systems538.0032.12,0250.000.6-36.2172.87.119.7
Subex18.4532.21,0400.0014.211.079.519.612.8
Median137.2530.54580.003.615.856.018.813.9

Competes with: C.E. Info Systems Limited, Capillary Technologies India Limited, Nucleus Software Exports Limited, Oracle Financial Services Software Limited, Ramco Systems Limited, Tanla Platforms Limited, TechNVision Ventures Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales67778284687473716669717379
Expenses82818181747270846263626464
Material Cost000000
Change in Inventories000000
Purchases of Stock-in-Trade000000
Employee Cost414142404140
Other Expenses432120212324
Operating Profit-15-513-622-13469915
OPM %-22-5.950.713.68-8.862.553.44-185.929.11131319
Other Income111-1452513162-075
Exceptional items (within Other Income)000-4.50-0.160
Interest1111111011111
Depreciation4444443343233
Profit before tax-18-8-2-147-83-0-1415461316
Tax %73610573479916251332492214
Net Profit-19-11-5-157-111-3-1813331014
EPS in Rs-0.34-0.20-0.09-2.78-0.200.01-0.06-0.310.230.050.050.180.25
Diluted EPS in Rs-0.320.230.050.050.180.26

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales360322357324348365372333279310286279292
Expenses275231268290297279273298309325300253253
Material Cost00
Change in Inventories00
Purchases of Stock-in-Trade00
Employee Cost185165
Other Expenses11589
Operating Profit8591893451869936-30-16-152639
OPM %2428251115242711-11-5-5914
Other Income-4-87-97133-3038108-141112713
Exceptional items (within Other Income)4.22-4.66
Interest616220826433323.273
Depreciation445551514101416141211
Profit before tax16-62-343447-2388934-39-175-203739
Tax %362129404613423831105924
Net Profit10-74-432125-2695221-51-192-312930
EPS in Rs0.56-1.48-0.850.370.45-4.790.920.37-0.91-3.40-0.560.510.53
Diluted EPS in Rs-0.570.51
Dividend Payout %-0-0-0-0-0-082-0-0-0-0-0

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
-1%
5 years
-6%
3 years
0%
TTM
3%

Compounded profit growth

10 years
12%
5 years
-8%
3 years
38%
TTM
449%

Stock price CAGR

10 years
6%
5 years
-19%
3 years
-14%
1 year
59%

Return on equity

10 years
2%
5 years
-4%
3 years
-5%
Last year
10%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital183503507562562562281281281281281281
Reserves26231177217232-47268283241532362
Borrowings72522818632-049261533281928
Other Liabilities18880868196114151140140167163181
Total Liabilities1,1211,042957892890678725719695528487552
Fixed Assets865775668666664393375368385228217228
CWIP-0-0-0-0-0-0-0-0-0-0-0-0
Investments-0-0-0-0-0-0-0121492232
Other Assets257267289226226286350339296292248292
Total Assets1,1211,042957892890678725719695528487552

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity64665454556691-89-81072
Cash from Investing Activity-117-11-7-11-2-6-34-3634-16-31
Cash from Financing Activity-47-36-55-91-34-13-32-15-7-9-12-9
Net Cash Flow637-12-4495153-58-3317-1932
Free Cash Flow58634851526382-144-11768

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days11012612110590929810611812099122
Cash Conversion Cycle11012612110590929810611812099122
Working Capital Days-69-128-965160626911071445270
ROCE %97104613166-6-5-613

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Sep 2026
Line itemDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters0
FIIs1.301.231.081.061.021.740.770.770.931.100.601.08
DIIs0.120.010.010.010.010.010.010.010.010.0100
Public979798989897989898989898
Others1.531.381.381.381.381.381.271.271.271.271.271.27
No. of Shareholders3,36,6643,81,3303,75,6463,69,6363,66,3363,62,1413,59,6073,52,5413,45,8633,38,4833,33,8933,36,980

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year +46.0% (₹13.14 → ₹19.18)Brick size ₹1.25 (fixed)Bricks 17
₹10.00₹15.00₹19.18Jan '26Jul '26
Price moved up one brickPrice moved down one brickLast close ₹19.18 on 9 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

total loans / revolving facilities outstanding at period end, the base of loan_default_cr

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

-98.02inr_cr

2026-03-31

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

40,90,575inr

2026-03-31

News

News and filings about Subex Limited. Open one to see why it matters.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Information Technology
Industry
Software Products
Classification
Information Technology › Software Products
ISIN
INE754A01055

News impact

Big market events that reach Subex Limited, and how the effect spreads.

No recent market events reach this company.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

1 Jul 2021unspecified₹0.25
10 Feb 2021interim₹0.5

Splits, bonuses & buybacks

  • daily-prices repair: 8 rows from NSE's archive (replace 2, delete 1, insert 5), 2023-11-12..2026-02-01 (docs/flat_day_repair.md)1× · 12 Nov 2023

Bulk & block deals

DateWhoBought / soldSharesPrice
23 Sep 2026QE SECURITIES LLPSELL29,43,521₹21.60
23 Sep 2026QE SECURITIES LLPBUY26,93,369₹21.60
15 Sep 2026HRTI PRIVATE LIMITEDBUY31,77,870₹21.10
15 Sep 2026HRTI PRIVATE LIMITEDSELL27,59,386₹21.26
11 Sep 2026YUGA STOCKS AND COMMODITIES PRIVATE LIMITEDSELL36,12,845₹20.02
11 Sep 2026YUGA STOCKS AND COMMODITIES PRIVATE LIMITEDBUY5,41,948₹20.40
8 Sep 2026YUGA STOCKS AND COMMODITIES PRIVATE LIMITEDBUY29,25,408₹19.16
8 Sep 2026YUGA STOCKS AND COMMODITIES PRIVATE LIMITEDSELL9,87,052₹19.23
19 Aug 2026YUGA STOCKS AND COMMODITIES PRIVATE LIMITEDSELL61,65,722₹16.45
19 Aug 2026YUGA STOCKS AND COMMODITIES PRIVATE LIMITEDBUY36,99,179₹16.80

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.