Subex Limited has announced a major contract win with a leading North African telecom operator for Enterprise Asset Management (EAM) services. The announcement, made on March 17, 2026, under Regulation 30 of SEBI listing requirements, marks a significant milestone for the telecom AI solutions company.

Contract Details and Scope

The comprehensive engagement represents a new logo win for Subex and spans a period of 9 years. The contract value is approximately EUR 2.70 million, positioning it as a substantial revenue opportunity for the company.

Technology and Solution Framework

The project involves deploying Subex's HyperSense solutions to enable a flexible, governance-first EAM approach. The comprehensive solution covers the complete asset management lifecycle process from purchase to disposal and retirement, addressing both technical and financial perspectives.

The scope encompasses multiple asset categories:

• Telecom network assets
• Fiber infrastructure
• IT equipment
• Data-center assets

System Integration Capabilities

A key strength of the engagement lies in the solution's ability to integrate seamlessly with numerous third-party systems. The HyperSense platform will connect with Enterprise Resource Planning (ERP), Geographic Information System (GIS), and Network Management System/Element Management System (NMS/EMS) platforms, ensuring comprehensive operational visibility.

Strategic Significance

According to Nisha Dutt, MD & CEO of Subex, the engagement addresses the growing need for intelligent asset stewardship as nations accelerate digital infrastructure development. The solution will provide the North African operator with centralized 360° asset visibility, Fixed Asset Registry (FAR) reconciliation, and workflow automation capabilities.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the contract does not involve any related party transactions and that promoter groups have no interest in the awarding entity.

This contract win reinforces Subex's position in the telecom AI solutions market and demonstrates the company's ability to secure significant international engagements in the enterprise asset management domain.

Subex Limited presented its comprehensive AI-driven transformation strategy at the Arihant Capital Markets Investor Summit on March 11, 2026. The company showcased its evolution from a traditional telecom solutions provider to an AI-native product company, demonstrating significant financial recovery and market positioning.

Strong Financial Performance and Market Position

The company reported robust financial metrics, highlighting its successful turnaround since FY2023. Subex has achieved profitability with strong operational performance across key indicators.

The transformation has been marked by a dramatic improvement in profitability, with EBITDA margins improving from -11% to +7.2% and PAT margins from -18.4% to +9%. The company also reported a 25% increase in cash and cash equivalents, alongside a 30% improvement in employee productivity.

Global Footprint and Domain Expertise

Subex has established a commanding presence in the global telecommunications market with over 30 years of domain expertise. The company operates across three major regions with an extensive customer base.

AI-Powered Product Portfolio

The company has positioned itself as a telecom AI company with a comprehensive product suite addressing critical industry challenges. Subex's solutions focus on protecting telecom revenues through advanced fraud detection and business assurance capabilities.

Core Product Offerings:

• Fraud Management (FM): Comprehensive telco fraud detection, prevention and case management
• Fraud Zap: Lightweight fraud detection for faster deployment
• Business Assurance (BA): Revenue assurance, margin assurance, and migration assurance
• Partner Ecosystem Management (PEM): Partner settlement and routing optimization
• AI Integration: Embedded AI platforms, AI use cases, and GenAI agents

Expanding Market Opportunity

Subex identified a significant $4.3 billion total addressable market (TAM), with most opportunities emerging in the last three years due to AI adoption in telecommunications.

The company emphasized that telcos leak 2.46% of revenues to fraud, representing approximately $42 billion in industry losses. This creates substantial opportunity for Subex's fraud management and business assurance solutions.

GenAI-Driven Business Transformation

Subex demonstrated how GenAI is fundamentally changing its project economics across the entire business lifecycle. The company's Device Fraud solution serves as a proof point for this transformation, showing dramatically reduced development timelines and faster deployment cycles.

Key Transformation Areas:

• Product Development: GenAI SDLC reducing timelines, with Fraudzap built in months versus multiple years
• Sales Acceleration: Fraudzap sold within 6 months of development
• Deployment Speed: Configurable solutions in weeks versus months
• Service Delivery: AI agent-managed operations versus human-intensive processes

The presentation concluded with six key investment reasons, including proven AI flywheel economics, strong recurring revenue base, expanding data moat, growing TAM in new spend categories, experienced leadership team, and re-rating opportunity at current valuations.