Xchanging Solutions Limited

About

Xchanging Solutions Limited provides information technology services in India, Europe, the United States, Singapore, and internationally. It provides application services, including applications modernization, managed applications, software development, and quality assurance services; AI workbench, enterprise intelligence, IoT and digital twin services, and modernization as a service; and enterprise applications, such as Amazon Quick, Microsoft, Oracle, Salesforce, SAP, and ServiceNow. The company also offers banking BPO, contact center experience BPO, and finance and accounting BPO; cloud platforms, intelligent operations, mainframe services, network services, private cloud services, public cloud services, and traditional hosting services; cyber risk and compliance services, cyber transformation and operations services, digital identity services, infrastructure, application and data protection services, and zero trust data mesh services; and device services, support services, and workplace experience services. In addition, it provides industry-specific platforms, including AMBER for automotive; CoreIgnite and Hogan for financial services; Assure for insurance; and DXC Oasis for operations. The company offers its services to aerospace and defense; automotive; financial services; consumer and retail; renewable energy, utilities, oil, and gas; healthcare; insurance; life sciences; manufacturing; public sector; technology, media, and telecommunication; and travel, transportation, and hospitality industries. The company was formerly known as Cambridge Solutions Limited and changed its name to Xchanging Solutions Limited in June 2012. Xchanging Solutions Limited was incorporated in 2002 and is based in Bengaluru, India. Xchanging Solutions Limited operates as a subsidiary of Xchanging Mauritius Limited.

Key Metrics

as of Sep 2026

Market Cap686 Cr

P/E11.30

Div Yield3.26 %

Book Value₹35.60

52w High₹103.00

52w Low₹47.50

Face Value₹10.00

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	9.37	8.97	9.71	11.62	10.75	11.61	8.57	9.03	9.48	10.67	8.70	8.58	8.88
Expenses	7.30	6.22	8.01	8.53	7.60	8.17	7.23	7.93	7.73	8.71	6.89	6.27	5.74
Operating Profit	2.07	2.75	1.70	3.09	3.15	3.44	1.34	1.10	1.75	1.96	1.81	2.31	3.14
OPM %	22.09	30.66	17.51	26.59	29.30	29.63	15.64	12.18	18.46	18.37	20.80	26.92	35.36
Other Income	3.48	3.01	3.20	20.17	3.41	3.49	3.66	3.71	5.43	7.63	199.47	5.00	186.32
Depreciation	0.00	0.00	0.00	0.00	0.01	0.02	0.04	0.11	0.12	0.12	0.12	0.15	0.15
Interest	0.00	0.02	0.00	0.00	0.00	0.00	0.01	0.01	0.02	0.04	0.02	0.02	0.02
Profit before tax	5.55	5.74	4.90	23.26	6.55	6.91	4.95	4.69	7.04	9.43	201.14	7.14	189.29
Tax %	28.83	15.68	29.18	-2.97	28.09	27.93	-26.87	30.70	27.84	25.66	8.14	28.43	10.39
Net Profit	3.95	4.84	3.47	23.95	4.71	4.98	6.28	3.25	5.08	7.01	184.76	5.11	169.62
EPS in Rs	0.35	0.43	0.31	2.15	0.42	0.45	0.56	0.29	0.46	0.63	16.58	0.46	15.23

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	Dec 2015	Dec 2014
Sales	41.00	39.00	37.00	38.00	44.00	41.00	43.00	52.00	56.00	99.00	121.00	150.00
Expenses	30.00	31.00	28.00	28.00	28.00	32.00	31.00	39.00	52.00	113.00	106.00	140.00
Operating Profit	11.00	8.00	9.00	10.00	16.00	9.00	12.00	13.00	4.00	-14.00	15.00	10.00
OPM %	26.00	20.00	25.00	26.00	35.00	22.00	27.00	24.00	6.00	-14.00	13.00	6.00
Other Income	30.00	16.00	398.00	9.00	8.00	15.00	16.00	12.00	10.00	11.00	12.00	9.00
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.00	0.00	1.00	1.00	1.00	1.00	1.00	0.00	1.00	3.00	4.00	4.00
Profit before tax	40.00	24.00	407.00	19.00	23.00	22.00	26.00	24.00	13.00	-6.00	23.00	14.00
Tax %	9.00	17.00	10.00	22.00	3.00	18.00	14.00	32.00	57.00	8.00	41.00	48.00
Net Profit	37.00	20.00	366.00	15.00	22.00	18.00	23.00	16.00	6.00	-7.00	14.00	7.00
EPS in Rs	3.32	1.76	32.90	1.32	1.99	1.63	2.04	1.48	0.50	-0.60	1.22	0.65
Dividend Payout %	60.00	114.00	103.00	0.00	0.00	0.00	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	Dec 2015	Dec 2014
Equity Capital	111.00	111.00	111.00	111.00	111.00	111.00	111.00	111.00	111.00	111.00	111.00	111.00
Reserves	193.00	178.00	203.00	170.00	156.00	134.00	116.00	93.00	76.00	70.00	77.00	63.00
Borrowings	0.00	0.00	1.00	1.00	2.00	3.00	2.00	0.00	0.00	1.00	1.00	2.00
Other Liabilities	31.00	35.00	38.00	39.00	41.00	44.00	45.00	52.00	56.00	56.00	51.00	75.00
Total Liabilities	336.00	325.00	353.00	322.00	310.00	292.00	274.00	256.00	243.00	238.00	241.00	252.00
Fixed Assets	0.00	0.00	1.00	2.00	2.00	2.00	2.00	0.00	0.00	2.00	5.00	7.00
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	52.00	52.00	52.00	52.00	52.00	52.00	52.00	52.00	173.00	153.00	52.00	52.00
Other Assets	284.00	273.00	300.00	269.00	256.00	239.00	220.00	204.00	70.00	83.00	184.00	193.00
Total Assets	336.00	325.00	353.00	322.00	310.00	292.00	274.00	256.00	243.00	238.00	241.00	252.00

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	Dec 2015	Dec 2014
Cash from Operating Activity	5.00	12.00	-33.00	10.00	11.00	13.00	5.00	9.00	14.00	11.00	19.00	9.00
Cash from Investing Activity	30.00	14.00	412.00	9.00	7.00	8.00	17.00	8.00	9.00	10.00	6.00	4.00
Cash from Financing Activity	-22.00	-45.00	-335.00	0.00	-1.00	-1.00	-1.00	0.00	-1.00	-1.00	-1.00	0.00
Net Cash Flow	12.00	-18.00	45.00	18.00	18.00	19.00	22.00	17.00	22.00	20.00	24.00	13.00
Free Cash Flow	5.00	13.00	-33.00	10.00	11.00	13.00	5.00	9.00	15.00	11.00	18.00	5.00
CFO/OP %	108.00	157.00	91.00	118.00	109.00	194.00	98.00	110.00	442.00	-94.00	156.00	120.00

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	Dec 2015	Dec 2014
Debtor Days	29.00	52.00	41.00	34.00	42.00	44.00	70.00	62.00	79.00	70.00	107.00	124.00
Cash Conversion Cycle	29.00	52.00	41.00	34.00	42.00	44.00	70.00	62.00	79.00	70.00	107.00	124.00
Working Capital Days	-217.00	-246.00	-284.00	-287.00	-178.00	-303.00	-125.00	-214.00	-207.00	-79.00	12.00	26.00
ROCE %	14.00	8.00	33.00	7.00	9.00	9.00	12.00	12.00	7.00	-3.00	13.00	11.00

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
Promoters	75.00	75.00	75.00	75.00	75.00	75.00	75.00	75.00	75.00	75.00	75.00	75.00
FIIs	0.03	0.11	0.01	0.00	0.09	0.01	0.07	0.08	0.09	0.23	0.11	0.11
DIIs	0.17	0.29	0.29	0.29	0.29	0.29	0.29	0.29	0.29	0.29	0.29	0.29
Public	24.80	24.60	24.69	24.69	24.61	24.70	24.63	24.62	24.61	24.47	24.58	24.60
No. of Shareholders	73,508	75,079	77,624	79,663	81,416	81,445	77,197	74,629	72,997	71,437	59,457	57,671

Corporate Actions

23 records

Action	Ex Date	Record Date	Ratio	Amount (₹)	Notes
Dividend	14 Aug 2026	14 Aug 2026	—	2.00
Dividend	11 Jul 2025	11 Jul 2025	—	2.00
Dividend	14 Jun 2024	14 Jun 2024	—	2.00
Dividend	23 Feb 2024	23 Feb 2024	—	15.00
Dividend	28 Jul 2023	28 Jul 2023	—	15.00
Other	26 Jul 2022	—	—	—	Annual General Meeting
Other	17 Sep 2021	—	—	—	Annual General Meeting
Other	15 Sep 2020	—	—	—	Annual General Meeting
Other	05 Aug 2019	—	—	—	Annual General Meeting
Other	18 Sep 2018	—	—	—	Annual General Meeting
Other	05 Sep 2017	—	—	—	Annual General Meeting
Other	17 Jun 2016	—	—	—	Annual General Meeting
Other	08 May 2015	—	—	—	Annual General Meeting
Other	16 May 2014	—	—	—	Annual General Meeting
Other	13 May 2013	—	—	—	Annual General Meeting
Other	11 May 2012	—	—	—	Annual General Meeting
Other	11 May 2011	—	—	—	Annual General Meeting
Other	16 Apr 2010	—	—	—	Annual General Meeting
Other	09 Jun 2009	—	—	—	Annual General Meeting
Other	19 Sep 2008	—	—	—	Annual General Meeting
Other	10 Sep 2007	—	—	—	Agm
Other	11 Sep 2006	—	—	—	Agm
Other	20 Sep 2005	—	—	—	Agm

Announcements

5 filings

Announcement under Regulation 30 (LODR)-Newspaper Publication 22 Aug
22 Aug 2026
25Th Annual General Meeting To Be Held On September 15, 2026
21 Aug 2026 21 Aug - FY26 annual report filed; 25th AGM on Sept. 15, 2026; final dividend of Rs 2/share recommended.
Business Responsibility and Sustainability Reporting (BRSR)
21 Aug 2026 21 Aug - Submitted BRSR for FY 2025-26 under SEBI Regulation 34(2)(f).
Letter Sent To The Members Of The Company - Web Link Of The Annual Report
21 Aug 2026 21 Aug - Xchanging Solutions to hold 25th AGM on September 15, 2026; annual report FY2025-26 available online.
Reg. 34 (1) Annual Report.
21 Aug 2026 21 Aug - XSL filed FY26 annual report; 25th AGM on September 15, 2026, with Rs 2 final dividend recommended.