Subex Ltd · CashKonnect

About

Subex Limited engages in the provision of operations and business support systems to communication service providers (CSPs) worldwide. It offers fraud management solutions that address fraud across various services, including bypass, handset, international revenue share fraud, robocalling, and SMS fraud solutions, as well as scam and spam calls. It also provides a signaling risk intelligence solution, which detects and prevents various protocol attacks at the signaling layer in real-time; business assurance, an active risk intelligence solution that assures revenues for business models comprising margin, asset and inventory, digital partner, enterprise 5G, IoT, digital profile, migration, and direct carrier billing assurance; and enterprise billing solution that include subscription management, billing and revenue management, configure, price and quote, service delivery platform, multi-level channel management, and customer relationship management services. In addition, the company offers partner ecosystem management that consists of partner and contract lifecycle management, digital services and roaming billing, and wholesale billing and routing services; and enterprise asset management solutions comprising network analytics, network asset management, and data integrity management. Further, it provides managed and business consulting services. Subex Limited was founded in 1992 and is based in Bengaluru, India.

Key Metrics

as of Sep 2026

Market Cap976 Cr

P/E30.20

Div Yield0.00 %

Book Value₹6.08

52w High₹19.40

52w Low₹6.61

Face Value₹5.00

Quarterly Results

Rs. Crores · hover row for definition

Metric	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023
Sales	72.78	64.56	65.44	63.51	62.56	66.27	69.08	68.48	64.98	65.04	72.20	66.86	64.91
Expenses	63.36	36.97	64.13	63.96	65.78	83.49	72.71	73.38	76.83	70.47	77.09	78.24	79.63
Operating Profit	9.42	27.59	1.31	-0.45	-3.22	-17.22	-3.63	-4.90	-11.85	-5.43	-4.89	-11.38	-14.72
OPM %	12.94	42.74	2.00	-0.71	-5.15	-25.98	-5.25	-7.16	-18.24	-8.35	-6.77	-17.02	-22.68
Other Income	3.01	-17.14	-0.86	1.06	15.41	0.58	0.37	4.56	0.90	-146.95	0.29	0.39	0.57
Depreciation	2.39	2.78	2.53	2.58	3.69	3.14	3.17	3.20	3.15	3.22	3.26	3.68	3.34
Interest	0.59	0.74	0.63	0.67	0.92	0.43	0.47	0.50	0.54	0.56	0.57	0.59	0.65
Profit before tax	9.45	6.93	-2.71	-2.64	7.58	-20.21	-6.90	-4.04	-14.64	-156.16	-8.43	-15.26	-18.14
Tax %	9.52	12.84	24.72	27.27	9.37	8.46	6.38	13.37	8.88	8.04	16.25	4.19	3.80
Net Profit	8.55	6.04	-3.38	-3.36	6.87	-21.92	-7.34	-4.58	-15.94	-168.72	-9.80	-15.90	-18.83
EPS in Rs	0.15	0.11	-0.06	-0.06	0.12	-0.39	-0.13	-0.08	-0.28	-2.99	-0.17	-0.28	-0.33

Profit & Loss

Annual · Rs. Crores

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Sales	256.00	269.00	269.00	274.00	68.00	55.00	11.00	19.00	180.00	324.00	296.00	306.00
Expenses	231.00	306.00	305.00	339.00	71.00	24.00	17.00	38.00	170.00	278.00	301.00	280.00
Operating Profit	26.00	-38.00	-36.00	-65.00	-3.00	31.00	-6.00	-18.00	9.00	47.00	-5.00	25.00
OPM %	10.00	-14.00	-13.00	-24.00	-4.00	56.00	-59.00	-96.00	5.00	14.00	-1.70	8.00
Other Income	-2.00	6.00	-146.00	2.00	0.00	-2.00	-192.00	0.00	5.00	-33.00	-146.00	2.00
Interest	3.00	2.00	2.00	2.00	0.00	0.00	0.00	0.00	5.00	15.00	51.00	52.00
Depreciation	12.00	13.00	14.00	12.00	2.00	2.00	6.00	6.00	7.00	3.00	3.00	3.00
Profit before tax	9.00	-46.00	-198.00	-77.00	-4.00	27.00	-205.00	-25.00	2.00	-4.00	-205.00	-27.00
Tax %	36.00	9.00	8.00	-11.00	0.00	1.00	1.00	0.00	83.00	59.00	3.00	6.00
Net Profit	6.00	-50.00	-213.00	-69.00	-4.00	26.00	-206.00	-25.00	0.00	-7.00	-210.00	-28.00
EPS in Rs	0.10	-0.88	-3.78	-1.22	-0.08	0.47	-3.66	-0.44	0.01	-0.13	-4.18	-1.55
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	161.00	0.00	0.00	0.00	0.00	0.00	0.00

Balance Sheet

Annual · Rs. Crores — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Equity Capital	281.00	281.00	281.00	281.00	281.00	281.00	562.00	562.00	562.00	507.00	503.00	183.00
Reserves	-109.00	-116.00	-67.00	143.00	208.00	221.00	-62.00	149.00	180.00	130.00	134.00	106.00
Borrowings	26.00	19.00	25.00	30.00	0.00	0.00	3.00	0.00	0.00	109.00	153.00	650.00
Other Liabilities	147.00	116.00	107.00	152.00	54.00	77.00	48.00	33.00	9.00	179.00	485.00	569.00
Total Liabilities	344.00	300.00	347.00	606.00	544.00	579.00	551.00	745.00	751.00	925.00	1,276.00	1,508.00
Fixed Assets	30.00	21.00	31.00	41.00	7.00	9.00	12.00	50.00	56.00	5.00	4.00	6.00
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	160.00	155.00	176.00	346.00	428.00	476.00	476.00	644.00	644.00	657.00	718.00	772.00
Other Assets	154.00	123.00	139.00	220.00	109.00	95.00	64.00	51.00	51.00	263.00	554.00	730.00
Total Assets	344.00	300.00	347.00	606.00	544.00	579.00	551.00	745.00	751.00	925.00	1,276.00	1,508.00

Cash Flows

Annual · Rs. Crores — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Cash from Operating Activity	71.00	8.00	-4.00	45.00	-19.00	1.00	-13.00	-1.00	62.00	59.00	35.00	49.00
Cash from Investing Activity	-50.00	-4.00	-2.00	-24.00	33.00	25.00	16.00	0.00	-75.00	-5.00	-2.00	-5.00
Cash from Financing Activity	-8.00	-10.00	-7.00	-5.00	-10.00	-27.00	-1.00	0.00	13.00	-54.00	-33.00	-44.00
Net Cash Flow	13.00	-6.00	-13.00	16.00	4.00	0.00	3.00	-1.00	1.00	0.00	1.00	1.00
Free Cash Flow	67.00	7.00	-7.00	42.00	-19.00	1.00	-13.00	-1.00	0.00	55.00	34.00	44.00
CFO/OP %	114.00	-30.00	-1.00	-76.00	632.00	5.00	192.00	-9.00	763.00	136.00	-810.00	216.00

Ratios

Annual · Days / % — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Debtor Days	60.00	75.00	102.00	145.00	311.00	145.00	310.00	160.00	28.00	213.00	613.00	624.00
Cash Conversion Cycle	60.00	75.00	102.00	145.00	311.00	145.00	310.00	160.00	28.00	213.00	613.00	624.00
Working Capital Days	-62.00	-63.00	-36.00	-45.00	86.00	-95.00	-710.00	-466.00	11.00	-67.00	-102.00	-69.00
ROCE %	24.00	-23.00	-14.00	-16.00	-1.00	6.00	2.00	-3.00	0.00	7.00	-1.00	3.00

Shareholding Pattern

% holding — latest first

Holder	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023
FIIs	0.60	1.10	0.93	0.77	0.77	1.74	1.02	1.06	1.08	1.23	1.30	0.91
DIIs	0.00	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.12	0.09
Public	98.14	97.62	97.80	97.94	97.95	96.86	97.58	97.57	97.53	97.38	97.05	97.43
No. of Shareholders	333,893	338,483	345,863	352,541	359,607	362,141	366,336	369,636	375,646	381,330	336,664	339,806

Corporate Actions

9 records

Action	Ex Date	Record Date	Ratio	Amount (₹)	Notes
Other	29 Jul 2024	—	—	—	Annual General Meeting
Other	22 Sep 2023	—	—	—	Annual General Meeting
Other	09 Sep 2022	—	—	—	Annual General Meeting
Dividend	01 Jul 2021	02 Jul 2021	—	0.25
Dividend	10 Feb 2021	11 Feb 2021	—	0.50
Other	22 Oct 2020	23 Oct 2020	—	—	Reduction of Capital
Dividend	19 Jul 2007	—	—	2.00
Dividend	25 Jun 2001	—	—	2.00
Other	25 Jun 2001	—	—	—	General