SUBEX LTD (SUBEXLTD) financials

SUBEX LTD (SUBEXLTD) NSE/BSE financials on Fincrux: quarterly results, profit and loss, cash flow, balance sheet, ratios, and shareholding.

Incorporated in 1992, Subex Ltd is a global provider of Operations and Business Support Systems to communication service providers worldwide, in the Telecom industry[1]

Market Cap: ₹1,022Cr.
Current Price: ₹18.1
Stock P/E: 26.0
ROE: 23.1%
ROCE: 23.8%
Book Value: ₹3.04
Dividend Yield: 0.00%
52W High / Low: ₹22.8/6.61

In Jun 2026, SUBEX LTD (SUBEXLTD) reported sales ₹72.78 Cr and net profit ₹8.55 Cr.

Annual TTM: sales ₹266 Cr, net profit ₹8 Cr.

Shareholding: FIIs 1.08% (Sep 2026), DIIs 0.00% (Sep 2026), Public 97.65% (Sep 2026), Others 1.27% (Sep 2026), No. of Shareholders 3,36,980% (Sep 2026).

SUBEXLTD quarterly results (₹ Cr.)
Category	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	68.48	69.08	66.27	62.56	63.51	65.44	64.56	72.78
Expenses	73.38	72.71	83.49	65.78	63.96	64.13	36.97	63.36
Operating Profit	-4.90	-3.63	-17.22	-3.22	-0.45	1.31	27.59	9.42
OPM %	-7.16%	-5.25%	-25.98%	-5.15%	-0.71%	2.00%	42.74%	12.94%
Other Income	4.56	0.37	0.58	15.41	1.06	-0.86	-17.14	3.01
Interest	0.50	0.47	0.43	0.92	0.67	0.63	0.74	0.59
Depreciation	3.20	3.17	3.14	3.69	2.58	2.53	2.78	2.39
Profit before tax	-4.04	-6.90	-20.21	7.58	-2.64	-2.71	6.93	9.45
Tax %	13.37%	6.38%	8.46%	9.37%	27.27%	24.72%	12.84%	9.52%
Net Profit	-4.58	-7.34	-21.92	6.87	-3.36	-3.38	6.04	8.55
EPS in Rs	-0.08	-0.13	-0.39	0.12	-0.06	-0.06	0.11	0.15
Raw PDF	—	—	—	—	—	—	—	—

SUBEXLTD profit and loss (₹ Cr.)
Category	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	11	55	68	274	269	269	256	266
Expenses	17	24	71	339	305	306	231	228
Operating Profit	-6	31	-3	-65	-36	-38	26	38
OPM %	-59%	56%	-4.0%	-24%	-13%	-14%	10%	14%
Other Income	-192	-2	0	2	-146	6	-2	-14
Interest	0	0	0	2	2	2	3	3
Depreciation	6	2	2	12	14	13	12	10
Profit before tax	-205	27	-4	-77	-198	-46	9	11
Tax %	1%	1%	0%	-11%	8%	9%	36%	—
Net Profit	-206	26	-4	-69	-213	-50	6	8
EPS in Rs	-3.66	0.47	-0.08	-1.22	-3.78	-0.88	0.10	0.14
Dividend Payout %	0%	161%	0%	0%	0%	0%	0%	—

SUBEXLTD balance sheet (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	562	562	281	281	281	281	281	281
Reserves	149	-62	221	208	143	-67	-116	-109
Borrowings	0	3	0	0	30	25	19	26
Other Liabilities	33	48	77	54	152	107	116	147
Total Liabilities	745	551	579	544	606	347	300	344
Fixed Assets	50	12	9	7	41	31	21	30
CWIP	0	0	0	0	0	0	0	0
Investments	644	476	476	428	346	176	155	160
Other Assets	51	64	95	109	220	139	123	154
Total Assets	745	551	579	544	606	347	300	344

SUBEXLTD cash flows (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	-1	-13	1	-19	45	-4	8	71
Cash from Investing Activity	-0	16	25	33	-24	-2	-4	-50
Cash from Financing Activity	-0	-1	-27	-10	-5	-7	-10	-8
Net Cash Flow	-1	3	0	4	16	-13	-6	13
Free Cash Flow	-1	-13	1	-19	42	-7	7	67
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	-9%	192%	5%	632%	-76%	-1%	-30%	114%

SUBEXLTD shareholding pattern (%)
Category	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
FIIs	1.02%	1.74%	0.77%	0.77%	0.93%	1.10%	0.60%	1.08%
DIIs	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.00%	0.00%
Public	97.58%	96.86%	97.95%	97.94%	97.80%	97.62%	98.14%	97.65%
Others	1.38%	1.38%	1.27%	1.27%	1.27%	1.27%	1.27%	1.27%
No. of Shareholders	3,66,336	3,62,141	3,59,607	3,52,541	3,45,863	3,38,483	3,33,893	3,36,980

SUBEXLTD key ratios
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	160	310	145	311	145	102	75	60
Inventory Days	—	—	—	—	—	—	—	—
Days Payable	—	—	—	—	—	—	—	—
Cash Conversion Cycle	160	310	145	311	145	102	75	60
Working Capital Days	-466	-710	-95	86	-45	-36	-63	-62
ROCE %	-3%	2%	6%	-1%	-16%	-14%	-23%	24%

SUBEXLTDUpdated 21 Oct 2026, 7:23

Subex Ltd

SUBEXLTDUpdated 21 Oct 2026, 7:23

Market Cap

₹1,022Cr.

Current Price

₹18.1

High / Low

₹22.8/6.61

Stock P/E

26.0

ROE23.1%

ROCE23.8%

Book Value₹3.04

Face Value₹5.00

Dividend Yield0.00%

About

Incorporated in 1992, Subex Ltd is a global provider of Operations and Business Support Systems to communication service providers worldwide, in the Telecom industry[1]

Quarterly results

Last reported quarters₹ Cr.

Quarter	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Jun 2023	64.91	0.65	79.63	0.57	3.34	-18.14	3.8	-18.83	-0.33
Sep 2023	66.86	0.59	78.24	0.39	3.68	-15.26	4.19	-15.9	-0.28
Dec 2023	72.2	0.57	77.09	0.29	3.26	-8.43	16.25	-9.8	-0.17
Mar 2024	65.04	0.56	70.47	-146.95	3.22	-156.16	8.04	-168.72	-2.99
Jun 2024	64.98	0.54	76.83	0.9	3.15	-14.64	8.88	-15.94	-0.28
Sep 2024	68.48	0.5	73.38	4.56	3.2	-4.04	13.37	-4.58	-0.08
Dec 2024	69.08	0.47	72.71	0.37	3.17	-6.9	6.38	-7.34	-0.13
Mar 2025	66.27	0.43	83.49	0.58	3.14	-20.21	8.46	-21.92	-0.39
Jun 2025	62.56	0.92	65.78	15.41	3.69	7.58	9.37	6.87	0.12
Sep 2025	63.51	0.67	63.96	1.06	2.58	-2.64	27.27	-3.36	-0.06
Dec 2025	65.44	0.63	64.13	-0.86	2.53	-2.71	24.72	-3.38	-0.06
Mar 2026	64.56	0.74	36.97	-17.14	2.78	6.93	12.84	6.04	0.11
Jun 2026	72.78	0.59	63.36	3.01	2.39	9.45	9.52	8.55	0.15

Profit & loss

Annual statement₹ Cr.

Year	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Mar 2015	306	52	280	2	3	-27	6	-28	-1.55
Mar 2016	296	51	301	-146	3	-205	3	-210	-4.18
Mar 2017	324	15	278	-33	3	-4	59	-7	-0.13
Mar 2018	180	5	170	5	7	2	83	0	0.01
Mar 2019	19	0	38	0	6	-25	0	-25	-0.44
Mar 2020	11	0	17	-192	6	-205	1	-206	-3.66
Mar 2021	55	0	24	-2	2	27	1	26	0.47
Mar 2022	68	0	71	0	2	-4	0	-4	-0.08
Mar 2023	274	2	339	2	12	-77	-11	-69	-1.22
Mar 2024	269	2	305	-146	14	-198	8	-213	-3.78
Mar 2025	269	2	306	6	13	-46	9	-50	-0.88
Mar 2026	256	3	231	-2	12	9	36	6	0.1
TTM	266	3	228	-14	10	11	—	8	0.14

Shareholding pattern

As of Sep 2026%

Holder	Share
FIIs	1.08%
Public	97.65%
Others	1.27%

Shareholding trend

Ownership over time%

Quarter	Promoters	FIIs	DIIs	Public	Others
Dec 2023	—	1.3%	0.12%	97.05%	1.53%
Mar 2024	—	1.23%	0.01%	97.38%	1.38%
Jun 2024	—	1.08%	0.01%	97.53%	1.38%
Sep 2024	—	1.06%	0.01%	97.57%	1.38%
Dec 2024	—	1.02%	0.01%	97.58%	1.38%
Mar 2025	—	1.74%	0.01%	96.86%	1.38%
Jun 2025	—	0.77%	0.01%	97.95%	1.27%
Sep 2025	—	0.77%	0.01%	97.94%	1.27%
Dec 2025	—	0.93%	0.01%	97.8%	1.27%
Mar 2026	—	1.1%	0.01%	97.62%	1.27%
Jun 2026	—	0.6%	0%	98.14%	1.27%
Sep 2026	—	1.08%	0%	97.65%	1.27%

Balance sheet

Assets & liabilities₹ Cr.

Period	Equity Capital	Reserves	Borrowings	Other Liabilities	Total Liabilities	Fixed Assets	Investments	Other Assets	Total Assets
Mar 2015	183	106	650	569	1508	6	772	730	1508
Mar 2016	503	134	153	485	1276	4	718	554	1276
Mar 2017	507	130	109	179	925	5	657	263	925
Mar 2018	562	180	0	9	751	56	644	51	751
Mar 2019	562	149	0	33	745	50	644	51	745
Mar 2020	562	-62	3	48	551	12	476	64	551
Mar 2021	281	221	0	77	579	9	476	95	579
Mar 2022	281	208	0	54	544	7	428	109	544
Mar 2023	281	143	30	152	606	41	346	220	606
Mar 2024	281	-67	25	107	347	31	176	139	347
Mar 2025	281	-116	19	116	300	21	155	123	300
Mar 2026	281	-109	26	147	344	30	160	154	344

Cash flows

Operating, investing & financing₹ Cr.

Period	Operating	Investing	Financing	Net cash flow
Mar 2015	49	-5	-44	1
Mar 2016	35	-2	-33	1
Mar 2017	59	-5	-54	0
Mar 2018	62	-75	13	1
Mar 2019	-1	0	0	-1
Mar 2020	-13	16	-1	3
Mar 2021	1	25	-27	0
Mar 2022	-19	33	-10	4
Mar 2023	45	-24	-5	16
Mar 2024	-4	-2	-7	-13
Mar 2025	8	-4	-10	-6
Mar 2026	71	-50	-8	13

Key ratios

Historical financial ratios

Category	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	624	613	213	28	160	310	145	311	145	102	75	60
Inventory Days	—	—	—	—	—	—	—	—	—	—	—	—
Days Payable	—	—	—	—	—	—	—	—	—	—	—	—
Cash Conversion Cycle	624	613	213	28	160	310	145	311	145	102	75	60
Working Capital Days	-69	-102	-67	11	-466	-710	-95	86	-45	-36	-63	-62
ROCE %	3%	-1%	7%	0%	-3%	2%	6%	-1%	-16%	-14%	-23%	24%

Frequently asked questions

Quick answers about this company's financials on Fincrux

What is the market cap of SUBEX LTD (SUBEXLTD)?

The reported market capitalisation for SUBEX LTD (SUBEXLTD) is ₹1,022Cr. on Fincrux. Figures may update with market data and filings.

What is the current share price of SUBEXLTD?

The current price shown for SUBEX LTD (SUBEXLTD) on Fincrux is ₹18.1 with a 52-week high/low of ₹22.8/6.61.

What is the P/E ratio of SUBEX LTD (SUBEXLTD)?

The stock P/E for SUBEX LTD (SUBEXLTD) is 26.0 on Fincrux, with ROE at 23.1% and ROCE at 23.8%.

What were SUBEXLTD latest quarterly results?

For Jun 2026, SUBEX LTD (SUBEXLTD) reported sales ₹72.78 Cr and net profit ₹8.55 Cr (figures in ₹ crore unless noted).

What are SUBEXLTD annual sales and net profit?

For TTM, SUBEX LTD (SUBEXLTD) shows sales of ₹266 Cr and net profit of ₹8 Cr on the Fincrux profit & loss statement.

Who owns SUBEX LTD (SUBEXLTD)?

Latest shareholding for SUBEX LTD (SUBEXLTD) on Fincrux: FIIs 1.08% (Sep 2026), DIIs 0.00% (Sep 2026), Public 97.65% (Sep 2026), Others 1.27% (Sep 2026), No. of Shareholders 3,36,980% (Sep 2026).

Where can I find SUBEX LTD (SUBEXLTD) financials?

SUBEX LTD (SUBEXLTD) financials on Fincrux include quarterly results, profit and loss, cash flow, balance sheet, key ratios, and shareholding patterns for NSE/BSE research.

Does Fincrux show SUBEXLTD balance sheet and cash flow?

Yes. The SUBEX LTD (SUBEXLTD) page on Fincrux includes balance sheet, cash flow statements, historical ratios, and ownership trends alongside quarterly and annual results.

Figures in ₹ crore unless noted. Data sourced for research and may lag filings.

Last updated 21 October 2026 at 7:23