Xchanging Solutions Limited (IN:XCHANGING)
:XCHANGING
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Xchanging Solutions Limited
(XCHANGING)
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Rating:69Neutral
Price Target:
₹73.00
▼(-10.43% Downside)
Action:Downgraded
Date:05/26/26
The score is driven primarily by strong recent profitability and improving growth, tempered by volatility in historical earnings and cash-flow generation. Technical signals are mixed (better short-term trend but weaker longer-term context), while valuation appears reasonable with a moderate P/E and dividend yield.
Positive Factors
High Profitability
Sustained high gross, EBIT and net margins indicate the business captures meaningful value from services and has pricing or cost advantages. Over the next 2–6 months strong margins support reinvestment, dividend capacity and resilience to revenue variability, underpinning durable earnings power.
Negative Factors
Inconsistent Cash Conversion
Weaker and inconsistent cash conversion versus reported profits signals execution risk in collecting receivables or managing working capital. Over a multi-month horizon this can constrain discretionary spending, limit organic investment and increase sensitivity to contract timing or client payment patterns.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability
Sustained high gross, EBIT and net margins indicate the business captures meaningful value from services and has pricing or cost advantages. Over the next 2–6 months strong margins support reinvestment, dividend capacity and resilience to revenue variability, underpinning durable earnings power.
Read all positive factors
Xchanging Solutions Limited (XCHANGING) vs. iShares MSCI India ETF (INDA)
Market Cap
₹6.87B
Dividend Yield2.4%
Average Volume (3M)68.23K
Price to Earnings (P/E)11.8
Beta (1Y)1.58
Revenue Growth9.75%
EPS Growth19.96%
CountryIN
Employees104
SectorServices
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)4.73
Shares Outstanding111,403,710
10 Day Avg. Volume4,303
30 Day Avg. Volume68,231
Financial Highlights & Ratios
PEG Ratio0.45
Price to Book (P/B)1.34
Price to Sales (P/S)2.62
P/FCF Ratio10.93
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
Xchanging Solutions Limited Business Overview & Revenue Model
Company Description
Established in 2002, Xchanging Solutions Limited, with its main offices in Bengaluru, India, offers information technology services internationally, serving clients across India, Europe, the United States, and Singapore. The company, a subsidiary ...
How the Company Makes Money
XCHANGING generated revenue primarily by delivering outsourced business process services and associated technology/managed services to clients under contracted engagements. Key revenue streams typically included (1) fees for business process outso...
Xchanging Solutions Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.91B | 2.03B | 1.85B | 1.74B | 1.74B | 1.74B |
| Gross Profit | 839.70M | 816.50M | 649.40M | 516.00M | 1.11B | 1.12B |
| EBITDA | 703.00M | 685.20M | 528.40M | 685.70M | 603.10M | 619.40M |
| Net Income | 527.20M | 594.50M | 495.80M | 137.00M | 449.00M | 525.70M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 5.23B | 5.04B | 5.23B | 7.43B | 6.73B |
| Cash, Cash Equivalents and Short-Term Investments | 3.00B | 3.12B | 3.01B | 3.08B | 5.15B | 4.40B |
| Total Debt | 0.00 | 711.10M | 854.70M | 1.05B | 13.40M | 17.20M |
| Total Liabilities | -3.59B | 1.27B | 1.46B | 1.69B | 669.40M | 597.40M |
| Stockholders Equity | 3.59B | 3.96B | 3.59B | 3.54B | 6.76B | 6.13B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 486.70M | 467.50M | -120.80M | 420.30M | 348.80M |
| Operating Cash Flow | 0.00 | 486.70M | 467.50M | -120.60M | 420.30M | 349.70M |
| Investing Cash Flow | 0.00 | -100.00K | 141.40M | 354.80M | 96.60M | 78.70M |
| Financing Cash Flow | 0.00 | -442.90M | -700.20M | -2.32B | -4.80M | -10.70M |
Xchanging Solutions Limited Technical Analysis
Negative
81.50
Price Trends
64.41
Negative
65.26
Negative
75.51
Negative
Market Momentum
-0.56
Positive
42.64
Neutral
5.04
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:XCHANGING, the sentiment is Negative. The current price of 81.5 is above the 20-day moving average (MA) of 65.36, above the 50-day MA of 64.41, and above the 200-day MA of 75.51, indicating a bearish trend. The MACD of -0.56 indicates Positive momentum. The RSI at 42.64 is Neutral, neither overbought nor oversold. The STOCH value of 5.04 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:XCHANGING.
Xchanging Solutions Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ₹4.16B | 13.94 | ― | 13.69% | 0.53% | -12.90% | |
70 Outperform | ₹6.41B | 21.06 | ― | 0.50% | -4.03% | 9.36% | |
69 Neutral | ₹6.87B | 11.80 | ― | 2.40% | 9.75% | 19.96% | |
67 Neutral | ₹4.46B | 10.77 | ― | ― | 22.60% | 29.03% | |
64 Neutral | ₹6.46B | 17.17 | ― | 0.96% | 19.93% | 19.41% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
55 Neutral | ₹3.53B | 10.38 | ― | ― | -4.46% | -36.03% |
* Services Sector Average
IN:XCHANGING
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Xchanging Solutions Limited Corporate Events
Xchanging Solutions Shareholders Approve Appointment of Independent Director via Postal Ballot
May 3, 2026
Xchanging Solutions Limited has announced that its shareholders have approved, via a postal ballot conducted through remote e-voting, the appointment of Padmaja Priyadarshini as a Non-Executive and Independent Director. The resolution received the...
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.