SUBEXLTDInformation Technology

Subex Limited

Software Products · ISIN INE754A01055 · BSE 532348 · NSE EQ · FV ₹5
Last price
₹17
+5.84%today
What this company does

Subex Limited operates in Software Products, part of the Information Technology sector. It booked ₹79 cr of revenue in its latest quarter (Q1 FY27) and kept 17.9% of sales as profit. It is the 8th largest of 9 Software Products companies we track, by market value.

“statements, whether as a result of new 30 Management Discussion & Analysis information, future events or otherwise, 04 except as required by applicable laws Board’s Report 47 and regulations.”
In the report:
68out of 100
Equitytale Health Score
Solid

Healthier than 68% of companies in Information Technology, on all six measures of filed financials. Each measure is ranked against the 87–127 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
39

At close. Not part of the score.

Profitability & returns65

How much profit it earns on the money it employs

Balance sheet84

How much it owes, and whether earnings cover the interest

Cash quality73

Whether reported profit actually arrives as cash

Growth & consistency30

Whether sales and profit have grown, and how steadily

Valuation61

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Strong 18% net margin
✓ Sales up 20% vs last year
✓ Profit up 11% vs last year
✓ No promoter shares pledged
✓ Strong 17% return on equity
✓ Virtually debt-free
✓ Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in SUBEXLTD?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹17▲ +5.84%
latest close · 2026-11-04
1-year return
-68.6%
52-wk low ₹1252-wk high ₹61
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio16.6Average
LowAverageHigh
P/B ratio2.82Moderate
Below bookModerateHigh
EV / EBITDA11.2Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity16.6%Strong
WeakFairStrong ▸15%
Return on capital15.4%Strong
WeakFairStrong
Net margin17.9%Strong
ThinDecentStrong
EBITDA margin24.8%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Interest cover27.1×Strong
RiskyOkayStrong ▸5×
Current ratio2.64Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹968 cr
Book value
₹6
EPS
₹0.26
latest quarter
Net debt
₹-82 cr
more cash than debt
Enterprise value
₹886 cr
EBITDA
₹79 cr
annualised
EBIT
₹68 cr
annualised
Operating margin
21.5%
Return on assets
10.3%
Earnings yield
6.04%
P/S
3.05
Sales / share
₹5.7
Tax rate
13.6%
Face value
₹5
Shares
56.2 cr
Working capital
₹179 cr
Current assets
₹288 cr
Current liabilities
₹109 cr
Delivery %
33.0%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹13–₹13, midpoint ₹13

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹79 cr
Other Income₹5 cr
Total Income₹84 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹40 cr
Finance Costs₹63 L
Depreciation & Amortisation₹3 cr
Other Expenses₹24 cr
Total Expenses₹68 cr
Profit before Tax₹16 cr
Tax Expense₹2 cr
Net Profit₹14 cr
Net margin on total income16.9%
Where the money goes · Q1 FY27
% of total income
Employee benefit expense₹40 cr47.7%
Finance costs₹63 L0.7%
Depreciation & amortisation₹3 cr3.1%
Other expenses₹24 cr28.9%
Tax expense₹2 cr2.7%
Profit for the period₹14 cr16.9%
Total income ₹84 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue71 cr73 cr79 cr
Total income75 cr80 cr84 cr
Expenses65 cr68 cr68 cr
Profit before tax6 cr13 cr16 cr
Tax3 cr3 cr2 cr
Net profit (owners' share)3 cr10 cr14 cr
Net margin (owners' share, on revenue)4.1%13.6%17.9%
EPS (₹)0.050.180.26
YoY (latest quarter): total income +2.3% · net profit +11.0%
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹552 cr
Shareholder equity
₹343 cr
parent shareholders
Total debt
₹0 cr
Cash
₹82 cr
Cash flow · H1 FY26
Operating
₹33 cr
Investing
₹23 cr
Financing
₹-4 cr
Peer comparison
Software Products · by market value
CompanyPriceMarket capP/E
Oracle Financial Services Software Limited₹9,910₹86,415 cr30.7
Tanla Platforms Limited₹662₹8,781 cr14.9
C.E. Info Systems Limited₹851₹4,659 cr23.4
Capillary Technologies India Limited₹508₹4,040 cr46.2
Ramco Systems Limited₹529₹1,994 cr1,890.2
Nucleus Software Exports Limited₹611₹1,610 cr18.9
Unicommerce Esolutions Limited₹81₹915 cr37.7
Subex Limitedthis company₹16₹914 cr15.6
Quick Heal Technologies Limited₹145₹785 cr35.1
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
—
trailing 12 months
Dividend / share (TTM)
—
Last dividend
₹0.25
ex 1 Jul 2021
ActionDetailEx-date
Dividend₹0.25 / share1 Jul 2021
Dividend₹0.5 / share10 Feb 2021
Who owns it · 2026-09-30
No pledge
Promoter
—
FII / Foreign
1.1%
DII / Domestic
0.0%
Retail / others
97.7%
Smart-money activity
Insider trades
SoldSubex Employee Welfare and ESOP Benefit Trust · Other1.23 L · ₹17.4 L16 May 25
SoldSubex Employee Welfare and ESOP Benefit Trust · Other1.02 L · ₹14.3 L16 May 25
SoldSubex Employee Welfare and ESOP Benefit Trust · Other1.79 L · ₹24.7 L15 May 25
Bulk / block deals
SoldQE SECURITIES LLP · NSE29.44 L @ ₹21.623 Sep 26
BoughtQE SECURITIES LLP · NSE26.93 L @ ₹21.623 Sep 26
BoughtHRTI PRIVATE LIMITED · NSE31.78 L @ ₹21.115 Sep 26
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 12 Sep 2026
See the official result
1
Formulation and Implementation of a new ESOP Scheme, namely Subex Employees Stock Option Scheme 2026
Backed by 84% of shareholders other than promotersneeded 75%
1.74 cr votes for, 33.51 L against · 96% of mutual funds and other big investors said no
2
Grant of Stock Options to the employees of subsidiaries under the Employee Stock Option Scheme 2026
Backed by 84% of shareholders other than promotersneeded 75%
1.74 cr votes for, 33.56 L against · 96% of mutual funds and other big investors said no
3
Authorization to Subex Employee Welfare and ESOP Benefit Trust for acquisition of Company shares in the secondary market
Backed by 86% of shareholders other than promotersneeded 75%
1.78 cr votes for, 29.31 L against · 96% of mutual funds and other big investors said no
4
Grant of loan to Subex Employee Welfare and ESOP Benefit Trust to acquire company shares in the secondary market
Backed by 85% of shareholders other than promotersneeded 75%
1.76 cr votes for, 32.07 L against · 96% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.