| Quarterly Financials | Mar 2015 | Jun 2015 | Sept 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sept 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sept 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sept 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sept 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sept 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 |
Revenue  | 113 | 74 | 80 | 81 | 90 | 86 | 86 | 100 | 98 | 77 | 81 | 87 | 93 | 76 | 88 | 83 | 102 | 79 | 87 | 104 | 108 | 90 | 100 | 95 | 98 | 87 | 87 | 88 | 81 | 86 | 76 | 75 | 51 | 69 | 78 | 83 | 87 | 70 | 80 | 74 | 73 | 82 | 70 |
| Expenses | 81 | 79 | 66 | 58 | 117 | 60 | 67 | 68 | 182 | 72 | 74 | 72 | 73 | 66 | 73 | 76 | 80 | 62 | 65 | 404 | 66 | 59 | 71 | 74 | 73 | 64 | 76 | 80 | 78 | 83 | 74 | 69 | 84 | 82 | 81 | 81 | 229 | 74 | 72 | 70 | 84 | 63 | 63 |
| EBITDA | 32 | -5 | 13 | 23 | -27 | 26 | 19 | 32 | -85 | 5 | 8 | 15 | 20 | 10 | 15 | 7 | 22 | 18 | 22 | -299 | 42 | 31 | 29 | 21 | 25 | 23 | 11 | 9 | 3 | 3 | 1 | 6 | -33 | -13 | -3 | 2 | -142 | -4 | 7 | 4 | -10 | 20 | 8 |
| Operating Profit % | 28 % | -7 % | 16 % | 28 % | -31 % | 28 % | 20 % | 29 % | -92 % | 6 % | 9 % | 16 % | 10 % | 13 % | 17 % | 8 % | 21 % | 22 % | 24 % | -320 % | 37 % | 33 % | 24 % | 22 % | 24 % | 20 % | 11 % | 9 % | 1 % | 1 % | 0 % | 7 % | -78 % | -22 % | -6 % | 1 % | -173 % | -9 % | 3 % | 3 % | -18 % | 6 % | 9 % |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 2 | 2 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 3 | 3 | 4 | 3 |
| Interest | 15 | 19 | 16 | 15 | 11 | 6 | 5 | 5 | 5 | 2 | 2 | 3 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit Before Tax | 16 | -24 | -4 | 6 | -39 | 19 | 13 | 26 | -91 | 2 | 4 | 10 | 19 | 8 | 14 | 5 | 20 | 13 | 17 | -304 | 37 | 26 | 25 | 17 | 22 | 20 | 8 | 5 | 0 | 1 | -3 | 1 | -38 | -18 | -8 | -2 | -147 | -8 | 3 | -0 | -14 | 15 | 4 |
| Tax | 2 | 2 | 6 | 3 | 2 | 1 | 3 | 3 | 2 | 3 | 1 | 7 | 4 | 4 | 7 | 3 | 7 | 8 | 11 | 9 | 5 | 11 | 12 | 8 | 7 | 7 | 3 | 3 | -0 | -5 | 2 | 6 | 10 | 1 | 3 | 3 | 10 | 3 | 2 | 3 | 4 | 2 | 1 |
| Net Profit | 14 | -26 | -11 | 4 | -41 | 18 | 10 | 23 | -94 | -1 | 3 | 4 | 15 | 4 | 6 | 2 | 13 | 5 | 6 | -313 | 32 | 15 | 12 | 9 | 16 | 14 | 5 | 2 | 1 | 6 | -5 | -5 | -47 | -19 | -11 | -5 | -157 | -11 | 1 | -3 | -18 | 13 | 3 |
| EPS in ₹ | 0.84 | -1.33 | -0.50 | 0.11 | -0.97 | 0.36 | 0.19 | 0.44 | -1.85 | -0.02 | 0.05 | 0.06 | 0.27 | 0.07 | 0.11 | 0.04 | 0.23 | 0.10 | 0.12 | -5.77 | 0.59 | 0.28 | 0.23 | 0.16 | 0.29 | 0.25 | 0.09 | 0.04 | 0.01 | 0.10 | -0.09 | -0.08 | -0.86 | -0.35 | -0.20 | -0.09 | -2.83 | -0.20 | 0.01 | -0.06 | -0.32 | 0.23 | 0.05 |
Subex
Subex
12.10
-0.36
(-2.89%)
Key Fundamentals
Market Cap
680.02 Cr
EPS
-0.57
PE Ratio
-142.56
Dividend Yield
0.00 %
Industry
Information Technology 52 Week High
26.93
52 Week Low
10.55
PB Ratio
2.24
Debt to Equity
0.07
Sector
Software Products Actual
Company News
View All News
Subex unveiled a new brand identity featuring a redesigned logo that reflects the convergence of business and technology. The rebranding focuses on the company's AI-driven telecom solutions and enhanced customer experience offerings.
Subex Limited achieved operational profitability for the first time since June 2022, reporting PAT positive results without exceptional items and quarterly revenue of INR 68.9 crores against INR 66.4 crores in the previous quarter. The company announced deals worth INR 15 million and plans to reconstitute its board before Q3 results following the departure of its chairman and two independent directors after the AGM.
Subex Limited Reports Q2 FY26 Results with 4% Revenue Growth and Return to Profitability
Nov 12, 2025
Nov 12, 2025Subex Limited reported quarterly revenue of ₹6,891 lakhs, representing a 4% quarter-on-quarter growth driven by improved project execution. The company achieved normalized EBITDA of ₹730 lakhs compared to ₹428 lakhs in Q1 FY26, supported by stronger contribution margins. Normalized profit before tax stood at ₹524 lakhs versus ₹271 lakhs in the previous quarter, excluding one-time gains of ₹14 crores from IT refund interest and lease termination gains. The company recorded normalized profit after tax of ₹388 lakhs, marking its first quarter of sustained profitability driven purely by operational performance. Earnings per share for Q2 FY26 was ₹0.05. Days sales outstanding stood at 100 days versus 96 days in Q1 FY26, while closing cash position remained stable at ₹13,589 lakhs. The company announced deals worth over $15 million in recent months, secured new opportunities in APAC and Europe, and renewed managed services contracts with Tier-1 operators. Subex onboarded a new Sales Head based in Europe and is building an AI-native workforce.
View more
Peer Comparison Compare Peers on Screener
Competitors | LTP | Market Cap (₹ Cr.) | P/E Ratio | Revenue (₹ Cr.) | YoY Revenue Growth % | Net Profit (₹ Cr.) | YoY Profit Growth % | RSI |
|---|---|---|---|---|---|---|---|---|
8,146.50 | #1 70,802.48 | 30.69 | #1 7,151.00 | 6.49 | #1 2,380 | -5.47 | 39.84 | |
1,680.70 | 9,197.07 | 63.93 | 515.70 | 23.49 | 148 | -39.14 | 38.50 | |
556.40 | 7,378.83 | 16.54 | 4,067.90 | 2.46 | 507 | -3.92 | 25.63 | |
202.90 | 3,898.18 | 97.66 | 470.80 | 58.47 | 34 | 24.74 | 26.45 | |
6,000.00 | 3,826.55 | 3,091.69 | 229.30 | 18.62 | 0 | 126.92 | 67.13 | |
921.90 | 2,426.93 | 15.75 | 898.50 | 2.40 | 163 | -20.54 | 23.23 | |
591.55 | 2,210.19 | 266.19 | 596.90 | 12.64 | -34 | #1 231.25 | 48.88 | |
299.70 | 1,622.71 | #1 -2,225.00 | 300.30 | -4.09 | 5 | 88.10 | 38.09 | |
125.33 | 1,395.70 | 75.64 | 140.20 | 28.15 | 18 | 28.89 | 40.17 | |
22.68 | 984.12 | 19.99 | 797.70 | #1 58.75 | 44 | 35.09 | 32.29 |
Automatic Screeners on ScanX
Growth Rate
Revenue Growth
-7.55 %
Net Income Growth
-83.62 %
Cash Flow Change
217.75 %
ROE
-82.03 %
ROCE
-88.77 %
EBITDA Margin (Avg.)
-6.74 %
Quarterly Financial Results
Balance Sheet
| Balance Sheet | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Total Assets | 1,121 | 1,042 | 957 | 898 | 897 | 681 | 727 | 720 | 704 | 530 | 487 |
| Fixed Assets | 865 | 775 | 668 | 666 | 664 | 393 | 376 | 368 | 386 | 228 | 217 |
| Current Assets | 219 | 232 | 250 | 185 | 179 | 243 | 312 | 297 | 262 | 250 | 214 |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 | 14 | 9 | 22 |
| Other Assets | 257 | 267 | 289 | 232 | 232 | 288 | 351 | 341 | 304 | 293 | 248 |
| Total Liabilities | 1,121 | 1,042 | 957 | 898 | 897 | 681 | 727 | 720 | 704 | 530 | 487 |
| Current Liabilities | 238 | 259 | 270 | 107 | 80 | 90 | 97 | 76 | 86 | 105 | 101 |
| Non Current Liabilities | 674 | 49 | 3 | 11 | 22 | 76 | 81 | 80 | 96 | 91 | 81 |
| Total Equity | 209 | 734 | 684 | 780 | 794 | 515 | 549 | 564 | 522 | 334 | 305 |
| Reserve & Surplus | 26 | 228 | 175 | 217 | 232 | -34 | 279 | 290 | 247 | 57 | 28 |
| Share Capital | 183 | 503 | 507 | 562 | 562 | 562 | 281 | 281 | 281 | 281 | 281 |
Cash Flow
| Cash Flow | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Net Cash Flow | 6 | 37 | -12 | -44 | 9 | 51 | 53 | -58 | -33 | 17 | -17 |
| Investing Activities | -11 | 7 | -11 | -7 | -11 | -2 | -6 | -34 | -36 | 35 | -15 |
| Operating Activities | 64 | 66 | 54 | 54 | 55 | 66 | 91 | -8 | 9 | -8 | 10 |
| Financing Activities | -47 | -36 | -55 | -91 | -34 | -13 | -32 | -15 | -7 | -9 | -12 |
Share Holding
| % Holding | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 |
| Promoter | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % |
| FIIs | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.91 % | 0.00 % | 1.23 % | 1.08 % | 1.05 % | 1.03 % | 1.74 % | 0.77 % | 0.77 % |
| DIIs | 0.01 % | 0.01 % | 0.01 % | 0.00 % | 0.00 % | 0.00 % | 0.02 % | 0.02 % | 0.01 % | 0.01 % | 0.09 % | 0.12 % | 0.01 % | 0.01 % | 0.01 % | 0.01 % | 0.01 % | 0.02 % | 0.02 % |
| Government | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % |
| Public / Retail | 75.91 % | 80.45 % | 82.67 % | 81.36 % | 82.61 % | 83.77 % | 84.59 % | 83.04 % | 78.56 % | 76.87 % | 76.67 % | 77.52 % | 83.30 % | 84.89 % | 85.27 % | 85.53 % | 85.27 % | 86.56 % | 86.96 % |
| Others | 24.08 % | 19.54 % | 17.32 % | 18.64 % | 17.39 % | 16.23 % | 15.39 % | 16.95 % | 21.42 % | 23.12 % | 22.32 % | 22.36 % | 15.45 % | 14.02 % | 13.67 % | 13.43 % | 12.97 % | 12.65 % | 12.25 % |
| No of Share Holders | 0 | 1,57,061 | 2,74,465 | 3,37,590 | 3,37,373 | 3,58,634 | 3,63,097 | 3,95,363 | 3,57,862 | 3,44,403 | 3,39,806 | 3,36,664 | 3,81,330 | 3,75,646 | 3,69,636 | 3,66,336 | 3,62,141 | 3,59,607 | 3,52,541 |
Dividend History
| Annual Cash Flows | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.75 | 0.00 | 0.00 | 0.00 | 0.00 |
| Dividend Yield (%) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.33 | 0.00 | 0.00 | 0.00 | 0.00 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 11 Feb 2021 |  Dividend | ₹ 0.50 /share | 10 Feb 2021 | 26.55 | 26.10 |
| 02 Jul 2021 | Dividend | ₹ 0.25 /share | 01 Jul 2021 | 62.80 | 56.20 |
| 29 Sept 2023 |  Annual General Meeting | NA | 29 Sept 2023 | 36.90 | 32.30 |
| 05 Aug 2024 | Annual General Meeting | NA | 05 Aug 2024 | 27.75 | 33.21 |
| 08 Nov 2024 |  Quarterly Result Announcement | NA | 08 Nov 2024 | 22.92 | 25.09 |
| 12 Feb 2025 | Quarterly Result Announcement | NA | 12 Feb 2025 | 18.06 | 17.01 |
| 02 May 2025 | Quarterly Result Announcement | NA | 02 May 2025 | 12.80 | 12.07 |
| 11 Aug 2025 | Quarterly Result Announcement | NA | 11 Aug 2025 | 14.02 | 12.39 |
| 29 Sept 2025 | Annual General Meeting | NA | 29 Sept 2025 | 12.68 | 11.99 |
| 11 Nov 2025 | Quarterly Result Announcement | NA | 11 Nov 2025 | 13.11 | 12.35 |
Announcements
Announcement under Regulation 30 (LODR)-Press Release / Media Release5 days ago
5 days agoAnnouncement under Regulation 30 (LODR)-Earnings Call Transcript5 days ago
5 days agoAnnouncement under Regulation 30 (LODR)-Newspaper PublicationNov 13, 2025
Nov 13, 2025Audio Recording Of The Earnings Call For The Quarter And Half Year Ended September 30 2025Nov 12, 2025
Nov 12, 2025Announcement under Regulation 30 (LODR)-Investor PresentationNov 11, 2025
Nov 11, 2025Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended September 30 2025Nov 11, 2025
Nov 11, 2025Board Meeting Outcome for Outcome Of Board Meeting Held On November 11 2025Nov 11, 2025
Nov 11, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationNov 03, 2025
Nov 03, 2025Announcement under Regulation 30 (LODR)-Change in ManagementOct 30, 2025
Oct 30, 2025Board Meeting Intimation for Board Meeting Scheduled To Be Held On November 11 2025Oct 28, 2025
Oct 28, 2025Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderOct 14, 2025
Oct 14, 2025Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderOct 10, 2025
Oct 10, 2025Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderOct 09, 2025
Oct 09, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Oct 07, 2025
Oct 07, 2025Disclosure Under Regulation 30 Of SEBI (LODR) Regulations 2015 - Completion Of Investment By Wholly Owned Subsidiary In Step-Down SubsidiaryOct 06, 2025
Oct 06, 2025Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderSep 30, 2025
Sep 30, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseSep 30, 2025
Sep 30, 2025Announcement under Regulation 30 (LODR)-Resignation of DirectorSep 30, 2025
Sep 30, 2025Announcement Under Regulation 30 Of SEBI (LODR) Regulations 2015Sep 29, 2025
Sep 29, 2025Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/sSep 29, 2025
Sep 29, 2025Announcement under Regulation 30 (LODR)-CessationSep 29, 2025
Sep 29, 2025Shareholder Meeting / Postal Ballot-Scrutinizers ReportSep 29, 2025
Sep 29, 2025Shareholder Meeting / Postal Ballot-Outcome of AGMSep 29, 2025
Sep 29, 2025Closure of Trading WindowSep 23, 2025
Sep 23, 2025Announcement under Regulation 30 (LODR)-Press Release / Media Release (Revised)Sep 22, 2025
Sep 22, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationSep 06, 2025
Sep 06, 2025Business Responsibility and Sustainability Reporting (BRSR)Sep 05, 2025
Sep 05, 2025Reg. 34 (1) Annual Report.Sep 05, 2025
Sep 05, 2025Notice Of The 31St Annual General Meeting (AGM) And Annual Report 2024-25Sep 05, 2025
Sep 05, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationSep 02, 2025
Sep 02, 2025Annual General Meeting Of Subex Limited And The Cut-Off Date For Determining Members Eligibility To Vote And AttendAug 29, 2025
Aug 29, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptAug 18, 2025
Aug 18, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 13, 2025
Aug 13, 2025Audio Recording Of The Earnings Call For The Quarter Ended June 30 2025Aug 12, 2025
Aug 12, 2025Announcement under Regulation 30 (LODR)-Investor PresentationAug 11, 2025
Aug 11, 2025Announcement under Regulation 30 (LODR)-Investor PresentationAug 11, 2025
Aug 11, 2025The Board Approved The Proposal Of Subex Assurance LLP (A Wholly Owned Subsidiary) To Make Further Investment In Subex Middle East A Step Down Wholly Owned Subsidiary Of The CompanyAug 11, 2025
Aug 11, 2025Unaudited Financial Results (Standalone & Consolidated) For The Quarter Ended June 30 2025Aug 11, 2025
Aug 11, 2025Board Meeting Outcome for Outcome Of Board Meeting Held On August 11 2025Aug 11, 2025
Aug 11, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJul 25, 2025
Jul 25, 2025Board Meeting Intimation for Considering And Approving The Unaudited Financial Results (Standalone & Consolidated) For The Quarter Ended June 30 2025
Jul 22, 2025
Jul 22, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Jul 08, 2025
Jul 08, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseJun 30, 2025
Jun 30, 2025Closure of Trading WindowJun 27, 2025
Jun 27, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseJun 20, 2025
Jun 20, 2025Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 - Receipt Of Income Tax RefundMay 28, 2025
May 28, 2025Compliances-Reg.24(A)-Annual Secretarial ComplianceMay 22, 2025
May 22, 2025Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 - Imposition Of Fine By Stock ExchangesMay 21, 2025
May 21, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptMay 08, 2025
May 08, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationMay 05, 2025
May 05, 2025Technical Indicators
RSI(14)
Neutral 42.78
ATR(14)
Less Volatile 0.53
STOCH(9,6)
Neutral 43.84
STOCH RSI(14)
Neutral 40.52
MACD(12,26)
Bearish -0.03
ADX(14)
Weak Trend 18.29
UO(9)
Bearish 36.57
ROC(12)
Downtrend And Accelerating -3.41
WillR(14)
Oversold -85.62
we are part of Raise Financial Services
built with love
for indians who love to invest & trade
Market Community
Follow us on
