Subex cash flow

Latest FY26

Cash from operations: ₹71.5cr+633.4% on FY25
Capital spending: ₹4.0cr+64.7% on FY25
Free cash flow: ₹67.5cr+820.2% on FY25
Cash from financing: −₹8.7cr−₹12.1 cr in FY25

₹ crore except per share

Tap a line for its trend	Last 12Mto Jun 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

Changes in working capital
Adjustments to reconcile profit — non-cash items						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	—	12.1	14.1	15.6	14.0
	—	0.0	0.0	148	0.0
	—	3.3	2.2	2.6	2.6
	—	−23.7	−4.4	−4.7	−2.5
	—	0.1	0.9	1.2	2.3
	—	−3.2	1.0	2.3	1.4
	—	3.0	21.1	6.2	19.3
	—	0.0	−0.3	−0.6	−0.6
	—	−3.8	−4.2	0.0	0.0
	—	−16.9	4.1	−19.6	−3.3
	—	8.1	11.9	7.5	23.9
	—	0.0	0.0	0.0	0.4
	—	11.0	−4.6	12.8	−7.5
	—	4.8	−2.3	13.5	3.0
	—	0.5	−0.5	−3.7	3.3
	—	5.2	−0.9	−0.5	−2.9
Cash from operating activities
	39.2	37.5	−19.8	−175	−39.1
	—	0.6	38.1	181	53.4
	—	38.1	18.3	5.7	14.3
	—	−33.4	8.6	13.9	5.1
	—	71.5	9.8	−8.3	9.3
Cash from investing activities
	—	4.0	2.4	2.7	4.9
	—	0.0	0.1	0.1	0.0
	—	3.9	3.5	2.7	1.9
	—	−32.7	−16.1	33.1	−34.8
	—	−32.8	−15.0	33.2	−37.8
Cash from financing activities
	—	0.0	0.0	2.0	1.0
	—	6.5	10.1	9.0	5.3
	—	2.2	2.0	2.4	2.2
	—	0.0	0.0	−0.0	0.0
	—	−8.7	−12.1	−9.3	−6.5
	—	30.0	−17.3	15.5	−35.1
	—	1.5	0.4	−0.2	2.1
	—	31.5	−16.9	15.4	−33.0
	—	—	—	67.8	52.4
Reference items
	39.5	25.7	−14.7	−15.7	−30.7
	13.5%	9.2%	−5.1%	−5.1%	−11.0%
	67.5	67.5	7.3	−11.0	4.3
	—	65.3	5.4	−22.1	—
	₹1.20	₹1.20	₹0.13	−₹0.20	₹0.08
	14.76×	—	—	—	—
	—	2.51×	−0.31×	0.04×	−0.18×
	—	−33.4	8.6	13.9	5.1
	—	2.2	2.0	2.4	2.2

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

alphave

SUBEXLTD₹17.74

Subex Limited

· Technology

₹ CrorePeersUNIECOM IRIS NUCLEUS RAMCOSYS VIRINCHI XELPMOC BLUECLOUDSMcap ₹997 Cr

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In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/06/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation	14.0	15.6	14.1	12.1	—
+ Impairment Loss / (Reversal)	0.0	148.0	0.0	0.0	—
+ Finance Costs	2.6	2.6	2.2	3.3	—
+ Interest Income	-2.5	-4.7	-4.4	-23.7	—
+ Share-based Payments	2.3	1.2	0.9	0.1	—
+ Unrealised FX (Gain) / Loss	1.4	2.3	1.0	-3.2	—
+ Other Non-cash Items	19.3	6.2	21.1	3.0	—
+ Other — Cash Effects are Investing / Financing	-0.6	-0.6	-0.3	0.0	—
+ Other Reconciling Items	0.0	0.0	-4.2	-3.8	—
Changes in Working Capital
+ Trade Receivables — Current	-3.3	-19.6	4.1	-16.9	—
+ Other Financial Assets — Current	23.9	7.5	11.9	8.1	—
+ Other Current Assets	0.4	0.0	0.0	0.0	—
+ Trade Payables — Current	-7.5	12.8	-4.6	11.0	—
+ Other Financial Liabilities — Current	3.0	13.5	-2.3	4.8	—
+ Other Current Liabilities	3.3	-3.7	-0.5	0.5	—
+ Provisions — Current	-2.9	-0.5	-0.9	5.2	—
Cash from Operating Activities
Profit Before Tax (per I/S)	-39.1	-175.1	-19.8	37.5	39.2
+ Total Adjustments (incl. Working Capital)	53.4	180.8	38.1	0.6	—
Cash from Operations (pre-tax)	14.3	5.7	18.3	38.1	—
+ Income Taxes Paid	5.1	13.9	8.6	-33.4	—
Cash from Operating Activities	9.3	-8.3	9.8	71.5	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	4.9	2.7	2.4	4.0	—
+ Disp of Fixed Assets	0.0	0.1	0.1	0.0	—
+ Interest Received — Investing	1.9	2.7	3.5	3.9	—
+ Other Inflows / (Outflows) — Investing	-34.8	33.1	-16.1	-32.7	—
Cash from Investing Activities	-37.8	33.2	-15.0	-32.8	—
Cash from Financing Activities
+ Proceeds from Exercise of Stock Options	1.0	2.0	0.0	0.0	—
+ Payment of Lease Liabilities	5.3	9.0	10.1	6.5	—
+ Interest Paid	2.2	2.4	2.0	2.2	—
+ Other Inflows / (Outflows) — Financing	0.0	-0.0	0.0	0.0	—
Cash from Financing Activities	-6.5	-9.3	-12.1	-8.7	—
Net Changes in Cash (pre-FX)	-35.1	15.5	-17.3	30.0	—
+ Effect of FX Rate Changes on Cash	2.1	-0.2	0.4	1.5	—
Net Changes in Cash	-33.0	15.4	-16.9	31.5	—
Closing Cash	52.4	67.8	—	—	—
Reference Items
EBITDA	-30.7	-15.7	-14.7	25.7	39.5
EBITDA Margin %	-11.00	-5.06	-5.13	9.22	13.52
Free Cash Flow (CFO − Capex)	4.3	-11.0	7.3	67.5	67.5
Free Cash Flow to Equity	—	-22.1	5.4	65.3	—
Free Cash Flow per Basic Share	0.08	-0.20	0.13	1.20	1.20
Price to Free Cash Flow	—	—	—	—	14.76
Cash Flow to Net Income	-0.18	0.04	-0.31	2.51	—
Cash Paid for Taxes	5.1	13.9	8.6	-33.4	—
Cash Paid for Interest	2.2	2.4	2.0	2.2	—

As filed, sign as filed: a payment tagged as a positive magnitude in the filing stays positive here, so read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown — depth follows the filer, so a thin statement means a thin filing. Total Adjustments is the filer's own grand total of the reconciliation and spans BOTH the non-cash items and the working-capital block; Profit Before Tax plus it equals Cash from Operations (pre-tax). It can be reported when its components are not, so it is never a sum of the rows above it. 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%.