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Subex Limited

Subex Limited

16.57
INR
-0.53
(-3.10%)
0.53EPS
21.90P/E
6.45BMarket Cap
Subex Limited
NSE:SUBEXLTD
(National Stock Exchange of India)

Recent

price

16.57

P/E

ratio

21.90

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
INR
76.41
68.94
22.56
20.41
20.96
11.1
7.06
5.84
6.24
6.7
6.84
6.09
5.07
5.6
5.15
5.03
5.18
Revenue per Share
12.47
4.59
-4.4
-0.7
0.6
-2.56
-0.85
0.37
0.45
-4.94
0.96
0.38
-0.93
-3.47
-0.57
0.51
0.53
Basic EPS, GAAP
7.79
7.01
-1.37
3.43
3.35
2.17
0.93
0.91
0.94
1.15
1.52
-0.25
0.08
-0.2
0.13
1.22
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
0.51
0.26
- -
- -
- -
- -
- -
Dividend per Share
30.21
20.35
13.5
10.42
13.77
14.59
13.5
13.87
14.42
9.54
10.12
10.26
9.47
6.02
5.49
6.18
- -
Book Value per Share
-94.69
-104.55
-37.95
-41.01
-33.11
-0.69
0.47
2.14
2.45
3.17
3.77
3.99
3.22
2.48
1.95
2.64
- -
Tangible Book Value per Share
63
69
136
167
172
290
506
555
558
545
541
546
550
553
554
555
564
Basic Weighted Avg Shares
4,828
4,778
3,073
3,401
3,598
3,225
3,573
3,243
3,481
3,650
3,700
3,323
2,787
3,097
2,856
2,791
2,921
Sales/Revenue/Turnover
24.35
25.51
5.66
23.5
25.97
21.08
24.5
14.16
13.36
21.57
25.22
11.17
-9.43
-6.68
-2.18
5.7
10.79
Operating Margin (%)
105
78
43
25
40
43
50
52
48
151
138
99
140
156
141
121
106
Depreciation Expense
788
318
-599
-116
102
-743
-432
207
252
-2,691
517
210
-512
-1,917
-314
285
299
Net Income, GAAP
5.3
9.52
- -
357.04
27.6
- -
- -
39.9
46.43
- -
42.13
37.7
- -
- -
- -
23.9
23.7
Effective Tax Rate (%)
16.32
6.66
-19.5
-3.41
2.84
-23.04
-12.1
6.38
7.24
-73.74
13.98
6.32
-18.38
-61.9
-11.01
10.22
10.25
Profit Margin (%)
-6,846
-7,520
-1,285
-632
-201
-270
-201
780
992
1,530
2,154
2,206
1,757
1,456
1,179
1,792
- -
Working Capital
4
- -
5,377
6,024
5,528
406
- -
- -
- -
346
158
100
248
184
104
216
- -
LT Debt
2,094
1,410
2,250
1,736
2,519
7,338
6,841
7,795
7,941
5,154
5,486
5,637
5,218
3,335
3,045
3,428
- -
Total Equity
17.43
20.92
- -
-23.02
7.24
- -
- -
2.41
3.52
- -
10.27
3.48
- -
- -
- -
4.15
- -
Return on Invested Capital (%)
18.94
12.85
- -
-18.74
4.36
- -
- -
2.76
3.2
- -
9.37
3.84
- -
- -
- -
8.89
- -
Return on Capital (%)
31.7
18.17
-32.76
-5.83
4.8
-15.07
-6.1
2.83
3.21
-41.11
9.72
3.77
-9.44
-44.83
-9.86
8.82
- -
Return on Common Equity (%)

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
66
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
216
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
554
555
555
Market Capitalization
6,268
3,706
6,447

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
2,885
- -
Cash, Cash Equivalents & STI
- -
1,660
- -
Accounts Receivable, Net
- -
935
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
1,093
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
66
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-5.65%
-7.37%
12.59%
Free Cash Flow
11.96%
16.57%
852.61%
Net Income, GAAP
-185.75%
-80.67%
-190.74%
Sales/Revenue/Turnover
-1.01%
-5.05%
-2.29%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
682
742
727
706
2,856
2026
664
689
708
730
2,791
2027
795
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
-0.2
0.01
-0.06
-0.32
-0.57
2026
0.23
0.05
0.05
0.18
0.51
2027
0.26
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
2027
- -
- -
- -
- -
- -
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Business
Subex Limited, headquartered in Bengaluru, India and founded in 1992, is a leading provider of AI-native telecom solutions that deliver digital trust, revenue assurance, and fraud management to communication service providers worldwide. The company offers a comprehensive suite of products and services including HyperSense, an AI-driven augmented analytics platform for revenue assurance and fraud management enhanced with embedded generative AI; FraudZap, a lightweight AI-powered fraud detection platform debuted in 2025 targeting handset fraud and other threats; Revenue Operations Center (ROC) for optimizing revenue streams; partner ecosystem management solutions automating onboarding, settlements, and disputes; business assurance tools combating revenue leakage; network asset management for efficiency; and managed services alongside strategic consulting in AI and analytics, serving over 75% of the world's top 50 telcos across 100+ countries with operations in Europe, North America, the Middle East, and Asia. Recent developments include the unveiling of a new brand identity in November 2025 to emphasize AI-native telecom capabilities; recognition for the second consecutive year in the 2025 Gartner Magic Quadrant for AI in CSP customer and business operations; the launch of FraudZap in July 2025 and GenAI integration into HyperSense in June 2025; multi-year strategic partnership extensions with a Tier 1 European operator in March 2025 and Tele2 Group in October 2024; board transitions following the 2025 annual general meeting; and a USD 1.2 million five-year contract win in 2025, alongside ongoing transitions to a SaaS model with expansions into IoT security.