Subex financials

·TechnologyChart ›
Latest results Q1 FY27 · Apr–Jun 2026
Revenue
₹79.5cr+19.7% on Q1 FY26
Net profit
₹14.2cr+11.0% on Q1 FY26
EBITDA margin
18.9%+13.0 pts on Q1 FY26
EPS
₹0.26+13.0% on Q1 FY26

Quarterly results

Every quarter ›
₹ croreQ1 FY27Q1 FY26Change
Revenue79.566.4+19.7%
EBITDA15.03.9+281.7%
EBITDA margin18.9%5.9%+13.0 pts
Profit before tax16.514.7+11.9%
Net profit14.212.8+11.0%
EPS₹0.26₹0.23+13.0%

Over time

Q1 FY27 · Apr–Jun 2026latest
Revenue₹79.5 crNet profit₹14.2 crNet margin17.9%

Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.

Key numbersby financial year

₹ crore except per share
Tap a line for its trendCurrentlast 12MFY26Mar 2026FY25Mar 2025FY24Mar 2024FY23Mar 2023FY22 and earlierAlpha Plus
997————
FY22 and earlierEvery year the company has filed comes with Alpha Plus.
10710767.875.164.6
0.00.00.00.08.6
890————
292279286310279
—−2.3%−7.8%+11.1%—
39.525.7−14.7−15.7−30.7
13.5%9.2%−5.1%−5.1%−11.0%
28.813.7−28.8−31.3−44.6
29.928.5−31.4−192−51.2
10.2%10.2%−11.0%−61.9%−18.4%
₹0.53₹0.51−₹0.56−₹3.41−₹0.91
—+190.7%+83.6%−274.4%—
—71.59.8−8.39.3
—−4.0−2.4−2.7−4.9
67.567.57.3−11.04.3
Open the chart

From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

SUBEXLTD₹17.74

Subex Limited

· Technology
₹ CrorePeersUNIECOMIRISNUCLEUSRAMCOSYSVIRINCHIXELPMOCBLUECLOUDSMcap ₹997 Cr
HighlightsEnterprise ValueMultiplesPer ShareAnnuals · FY-end closes
In ₹ Crore except Per Share
12 Months Ending
FY23
31/03/2023
FY24
31/03/2024
FY25
31/03/2025
FY26
31/03/2026
Current/LTM
TTM · last close
Market Capitalization————997.0
- Cash, Equiv & ST Investments64.675.167.8107.2107.2
+ Total Debt8.60.00.00.00.0
Enterprise Value————889.8
Revenue278.7309.7285.6279.1292.1
Growth %, YoY—+11.1-7.8-2.3—
EBITDA-30.7-15.7-14.725.739.5
Margin %-11.00-5.06-5.139.2213.52
EBIT-44.6-31.3-28.813.728.8
Net Income-51.2-191.7-31.428.529.9
Margin %-18.38-61.90-11.0110.2210.25
EPS, Adj (current shares)-0.91-3.41-0.560.510.53
Growth %, YoY—-274.4+83.6+190.7—
Cash from Operations9.3-8.39.871.5—
Capital Expenditures-4.9-2.7-2.4-4.0—
Free Cash Flow4.3-11.07.367.567.5
Market Cap/EV/multiples pair each (split/bonus-adjusted) FY-end close with the latest filed share count; Current column uses the last close. Market Capitalization is a market-level figure — identical across Consolidated/Standalone (the accounting rows below differ). No consensus estimates → no Est columns. Click any row to chart it.
« ‹ › »Latest: FY26 · ConsolidatedFA Financial Analysis · alphave
Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.

Subex financials and key ratios

Prices at the 30 October 2026 close · figures from the company's filings with NSE

Subex (NSE: SUBEXLTD) had a market capitalisation of ₹918 crore at the 30 October 2026 close (₹16.33 a share), a PE ratio of 30.7 on the last four quarters' profit and a price-to-book ratio of 2.68. In FY26 its consolidated net profit was ₹28.5 crore on revenue of ₹279 crore; in Q1 FY27 (April–June 2026) it was ₹14.2 crore, up 11.0% year on year. It had no borrowings on 31 March 2026.

Share price used
₹16.33 · 30 October 2026 close
Latest balance sheet
31 March 2026
Shareholding pattern
30 September 2026

Subex at a glance · consolidated

Market cap
₹918 Crat ₹16.33 · 30 Oct close
PE ratio (last 4 quarters)
30.732.2 on FY26 profit
Price to book (PB)
2.68book value ₹6.10 a share
ROE (FY26)
8.8%+18.7 pts vs FY25ROCE 3.3%
Debt to equity
0.00net cash ₹126 Cr
FII holding
1.08%+0.5 pts vs 30 Jun 2026no promoter group
Net worth
₹343 Cr+12.6% vs 31 Mar 202531 March 2026
Free cash flow (FY26)
₹67.5 Cr+820.2% vs FY25
EPS (FY26)
₹0.51

Questions

What is the Subex PE ratio today?

Subex's PE ratio is 30.7 at the 30 October 2026 close (₹16.33 a share): a market capitalisation of ₹918 crore divided by consolidated net profit of ₹29.9 crore over the last four quarters (Q2 FY26 to Q1 FY27). On FY26 net profit (₹28.5 crore) it is 32.2.

What is the Subex net worth?

Subex's net worth — shareholders' equity in its consolidated balance sheet — was ₹343 crore on 31 March 2026, up 12.6% from ₹304 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹918 crore at the 30 October 2026 close.

What is the Subex book value per share?

Subex's book value per share was ₹6.10 on 31 March 2026: shareholders' equity of ₹343 crore divided by the 56.2 crore shares in issue, up 12.6% from ₹5.42 a year earlier. The share price at the 30 October 2026 close was ₹16.33.

What is the Subex PB ratio (price to book value)?

Subex's price-to-book (PB) ratio is 2.68 at the 30 October 2026 close: a market capitalisation of ₹918 crore divided by shareholders' equity (book value) of ₹343 crore on 31 March 2026. That is a book value of ₹6.10 per share against a share price of ₹16.33.

What is the Subex ROE and ROCE?

In FY26, Subex's return on equity (ROE) was 8.8% and its return on capital employed (ROCE) was 3.3%. ROE is net profit divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was −9.9% and ROCE −7.1%.

What is the Subex shareholding pattern?

On 30 September 2026, Subex's shares were held by foreign portfolio investors (FII/FPI) 1.08%, domestic institutions (DII) 0.00% (including mutual funds at 0.00%) and retail and other non-institutional investors 97.64%. Over the year, FII holding was up 0.31 percentage points from 0.77% and DII holding was down 0.02 percentage points from 0.02%.

What is the Subex market cap?

Subex's market capitalisation was ₹918 crore at the 30 October 2026 close: 56.2 crore shares at ₹16.33 each.

Is Subex debt free?

Yes. Subex had no borrowings on 31 March 2026 (consolidated balance sheet), and it held ₹126 crore of cash, bank balances and current investments.

What is the Subex debt to equity ratio?

Subex's debt-to-equity ratio was 0.00 on 31 March 2026: no borrowings against total equity of ₹343 crore. A year earlier, on 31 March 2025, it was 0.00.

What is the Subex EPS?

Subex's basic earnings per share (EPS) were ₹0.51 in FY26. Over the last four quarters (Q2 FY26 to Q1 FY27) they add up to ₹0.54.

What is the Subex promoter holding?

Subex has no promoter group: on 30 September 2026 promoters held 0% of its shares, according to the shareholding pattern filed with NSE. Foreign portfolio investors held 1.08% and domestic institutions 0.00%.

When are the Subex next results?

Subex will announce its Q2 FY27 results (July–September 2026) on Tuesday, 3 November 2026, the date of the board meeting it has notified to the exchanges.

What is the Subex free cash flow?

In FY26, Subex generated ₹71.5 crore of cash from operations and spent ₹4 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of ₹67.5 crore. In FY25 it was ₹7.3 crore.

What are the Subex latest quarterly results?

Subex's latest results are for Q1 FY27 (April–June 2026), filed on 5 August 2026: consolidated net profit ₹14.2 crore, up 11.0% from ₹12.8 crore in Q1 FY26; revenue from operations ₹79.5 crore, up 19.7% year on year.

What is the Subex revenue and profit in FY26?

In FY26 (April 2025–March 2026), Subex's consolidated net profit was ₹28.5 crore, against a loss of ₹31.4 crore in FY25, on revenue from operations of ₹279 crore (down 2.3%).

How does Subex compare with its peers?

On FY26 consolidated figures, against Unicommerce Esolutions, IRIS RegTech Solutions and Nucleus Software Exports: Subex's operating margin of 4.9% is the lowest of the four (Unicommerce Esolutions 12.5%, IRIS RegTech Solutions 6.3%, Nucleus Software Exports 12.5%; peer average 10.4%); its return on equity of 8.8% is the lowest of the four (Unicommerce Esolutions 15.6%, IRIS RegTech Solutions 91.5%, Nucleus Software Exports 13.6%; peer average 40.2%).

How does the Subex PE ratio compare with its peers?

At the 30 October 2026 closing prices, on FY26 net profit, Subex's PE ratio is 32.2, the second highest of the four: Unicommerce Esolutions 43.6, IRIS RegTech Solutions 3.2 and Nucleus Software Exports 14.7, a peer average of 20.5. Each is the company's market capitalisation at that price divided by its FY26 net profit.

Subex vs Unicommerce Esolutions: how do they compare?

In FY26, Subex earned net profit of ₹28.5 crore on revenue of ₹279 crore, against ₹20.5 crore on ₹204 crore for Unicommerce Esolutions. Subex's operating margin was 4.9% (Unicommerce Esolutions 12.5%) and its return on equity 8.8% (Unicommerce Esolutions 15.6%). At the 30 October 2026 close, Subex's market capitalisation was ₹918 crore against ₹893 crore for Unicommerce Esolutions, and its PE ratio on FY26 profit 32.2 against 43.6.

Where do these Subex figures come from?

From Subex's own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 30 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.

Consolidated figures from the company's filings with NSE; prices are NSE closing prices.