Subex Limited (IN:SUBEXLTD)
:SUBEXLTD
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Subex Limited
(SUBEXLTD)
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Rating:46Neutral
Price Target:
₹7.50
▼(-34.38% Downside)
Action:DowngradedDate:01/28/26
Overall score is held down primarily by weak profitability and inconsistent cash generation, along with a bearish technical trend (price below key moving averages and negative MACD). Limited valuation support (negative P/E due to losses and no dividend data) further constrains the score.
Positive Factors
Strong equity base & low leverage
A strong equity base and low leverage provide durable financial flexibility: the company can fund working capital, absorb cyclical losses, and invest in product development or sales without heavy interest burdens. This supports multi-quarter execution in enterprise software markets.
Negative Factors
Negative net and EBITDA margins
Persistent negative EBITDA and net margins indicate structural profitability issues. These margins limit retained earnings, hinder reinvestment capability, and require sustained margin improvement or scale to become self-funding. Without durable margin recovery, long-term viability is at risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong equity base & low leverage
A strong equity base and low leverage provide durable financial flexibility: the company can fund working capital, absorb cyclical losses, and invest in product development or sales without heavy interest burdens. This supports multi-quarter execution in enterprise software markets.
Read all positive factors
Subex Limited (SUBEXLTD) vs. iShares MSCI India ETF (INDA)
Market Cap
₹4.27B
Dividend YieldN/A
Average Volume (3M)264.43K
Price to Earnings (P/E)56.5
Beta (1Y)1.87
Revenue Growth-9.53%
EPS Growth96.99%
CountryIN
Employees828
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.05
Shares Outstanding562,002,900
10 Day Avg. Volume427,974
30 Day Avg. Volume264,433
Financial Highlights & Ratios
PEG Ratio0.27
Price to Book (P/B)2.31
Price to Sales (P/S)2.46
P/FCF Ratio95.74
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Subex Limited Business Overview & Revenue Model
Company Description
Subex Limited provides operations and business support systems to communication service providers (CSPs) worldwide. The company offers Fraud Management, a solution to address frauds across voice, data and digital services; Network Security, a suit...
How the Company Makes Money
Subex primarily makes money by selling and supporting enterprise software and services to telecom operators and related customers. Key revenue streams generally include: (1) software licensing/subscription fees for its fraud management, revenue as...
Subex Limited Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
55
Neutral
Cash Flow
50
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.79B | 2.86B | 3.10B | 2.79B | 3.31B | 3.72B |
| Gross Profit | 1.32B | 567.40M | 768.80M | 780.00M | 1.04B | 1.28B |
| EBITDA | 208.70M | -35.20M | -1.57B | -220.70M | 461.30M | 1.07B |
| Net Income | -51.80M | -314.40M | -1.92B | -512.10M | 209.90M | 517.20M |
Balance Sheet | ||||||
| Total Assets | 5.17B | 4.87B | 5.30B | 7.04B | 7.20B | 7.27B |
| Cash, Cash Equivalents and Short-Term Investments | 1.35B | 938.40M | 1.04B | 1.20B | 1.18B | 1.43B |
| Total Debt | 297.00M | 193.80M | 281.60M | 333.90M | 146.80M | 257.90M |
| Total Liabilities | 1.95B | 1.82B | 1.96B | 1.82B | 1.56B | 1.78B |
| Stockholders Equity | 3.23B | 3.04B | 3.34B | 5.22B | 5.64B | 5.49B |
Cash Flow | ||||||
| Free Cash Flow | 295.50M | 73.40M | -110.10M | 43.20M | -141.60M | 823.30M |
| Operating Cash Flow | 328.50M | 97.50M | -82.80M | 92.50M | -87.60M | 909.50M |
| Investing Cash Flow | 234.60M | -149.70M | 331.50M | -378.10M | -353.40M | -72.20M |
| Financing Cash Flow | -40.40M | -120.50M | -93.40M | -65.10M | -128.80M | -320.70M |
Subex Limited Technical Analysis
Negative
11.43
Price Trends
9.36
Negative
10.72
Negative
12.09
Negative
Market Momentum
-0.53
Positive
28.66
Positive
7.06
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SUBEXLTD, the sentiment is Negative. The current price of 11.43 is above the 20-day moving average (MA) of 8.42, above the 50-day MA of 9.36, and below the 200-day MA of 12.09, indicating a bearish trend. The MACD of -0.53 indicates Positive momentum. The RSI at 28.66 is Positive, neither overbought nor oversold. The STOCH value of 7.06 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SUBEXLTD.
Subex Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | ₹5.61B | 17.41 | ― | 0.96% | 20.23% | -17.78% | |
67 Neutral | ₹13.40B | 25.81 | ― | 0.13% | 14.57% | 80.44% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | ₹3.03B | 4.73 | ― | ― | -1.07% | 187.83% | |
52 Neutral | ₹3.10B | -131.12 | ― | ― | ― | ― | |
46 Neutral | ₹4.27B | 56.55 | ― | ― | -9.53% | 96.99% | |
41 Neutral | ₹3.57B | -11.22 | ― | ― | -22.96% | 28.55% |
* Technology Sector Average
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Subex Limited Corporate Events
Subex Shareholders Approve Appointment of Two Independent Directors via Postal Ballot
Mar 20, 2026
Subex Limited has secured shareholder approval via postal ballot for the appointment of two new independent directors to its board, strengthening its corporate governance framework. Shareholders approved the appointment of Venkata Erinti Narayana ...
Subex to Announce Q3 FY26 Results on 10 February, Schedules Earnings Call for 11 February
Jan 14, 2026
Subex Limited has announced that it will release its unaudited standalone and consolidated financial results for the third quarter and nine-month period ended 31 December 2025 on 10 February 2026. The management team, including the managing direct...
Subex Strengthens Board with Appointment of Independent Director Alok Ohrie
Jan 4, 2026
Subex Limited has appointed industry veteran Alok Ohrie as an Additional Director in the capacity of Non-Executive, Independent Director, effective 4 January 2026, for a three-year term, subject to shareholder approval. The Board’s decision,...
Subex Inducts Alok Ohrie as Independent Director for Three-Year Term
Jan 4, 2026
Subex Limited has strengthened its board by appointing industry veteran Alok Ohrie as an Additional Director in the category of Non-Executive, Independent Director, for a three-year term effective 4 January 2026, subject to shareholder approval. T...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.