Subex quarterly results and financials

Subex (SUBEXLTD)₹16.77−2.67%(9 Nov 2026 close)Software Products

Key facts

In the Jun 2026 quarter (consolidated), Subex reported sales of ₹79.26 Cr, up 19.7% from Jun 2025, and net profit of ₹13.97 Cr, up 7.6% year on year. For the year to Mar 2026, sales were ₹280 Cr and net profit ₹28.98 Cr.

Sales (Jun 2026): ₹79.26 Cr
Net profit (Jun 2026): ₹13.97 Cr
Sales (FY Mar 2026): ₹280 Cr
Net profit (FY Mar 2026): ₹28.98 Cr
EPS (Jun 2026): ₹0.24
Borrowings (Mar 2026): ₹28.10 Cr

Company filings, consolidated accounts; latest reported quarter Jun 2026

Subex quarterly results

₹ crore unless stated; each column is a quarter.

Subex Quarterly results
	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	77.26	82.25	84.26	68.19	74.26	73.25	71.26	66.21	69.21	71.23	73.24	79.26
Expenses	80.96	80.99	80.99	74.06	72.02	69.99	84.03	61.98	62.99	62.05	63.98	64.01
Operating Profit	−5.01	1.01	3.01	−6.01	2.01	2.01	−13.01	4.01	6.01	9.01	9.01	15.02
OPM %	−6.0%	0.7%	3.7%	−9.0%	2.5%	3.4%	−18.0%	6.0%	9.0%	13.0%	13.0%	19.0%
Other Income	1.01	1.01	−145	2.01	5.01	1.01	3.01	16.03	2.01	0.00	7.02	5.01
Interest	1.01	1.01	1.01	1.01	1.01	1.01	0.00	1.01	1.01	1.01	1.01	1.01
Depreciation	3.99	3.99	3.99	3.98	3.99	2.99	2.99	3.99	2.99	1.99	2.99	2.99
Profit before tax	−8.03	−2.01	−147	−8.02	3.01	0.00	−14.04	15.04	4.01	6.02	13.05	16.06
Tax %	36.0%	104.9%	6.9%	33.9%	79.0%	915.9%	24.9%	13.0%	31.9%	48.9%	21.9%	13.9%
Exceptional items	0.00	0.00	−138	0.00	1.84	0.00	0.00	0.00	0.00	−2.28	−0.11	0.00
Net Profit	−10.99	−4.99	−157	−10.99	0.99	−2.99	−17.97	12.98	2.99	2.99	9.99	13.97
EPS (Rs)	−0.19	−0.08	−2.77	−0.19	0.00	−0.05	−0.30	0.22	0.04	0.04	0.17	0.24

Subex profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

Subex Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	323	358	325	349	366	373	334	280	311	287	280	293
Expenses	231	268	290	297	279	273	298	309	325	300	253	253
Operating Profit	91.02	89.07	33.99	51.07	86.04	99.07	36.02	−30.04	−16.02	−15.01	26.02	39.05
OPM %	28.0%	25.0%	11.0%	15.0%	24.0%	27.0%	11.0%	−11.0%	−5.0%	−5.0%	9.0%	13.3%
Other Income	−87.25	−97.18	13.03	3.01	−304	8.02	10.03	8.02	−141	11.03	27.08	14.04
Interest	62.04	20.02	8.01	2.01	6.01	4.01	3.01	3.01	3.01	2.01	3.01	4.04
Depreciation	3.99	4.98	4.98	4.98	14.95	13.95	9.96	13.95	15.94	13.95	11.95	10.96
Profit before tax	−62.21	−34.09	34.09	47.14	−239	89.21	34.08	−39.15	−176	−20.06	37.14	39.14
Tax %	20.9%	28.9%	39.9%	45.9%	12.9%	41.9%	37.9%	30.9%	9.9%	58.9%	23.9%	—
Exceptional items	−46.95	−106	8.99	0.00	−337	1.99	0.00	0.99	−140	4.99	−3.99	−2.39
Net Profit	−73.87	−42.98	20.96	24.99	−269	51.91	20.98	−50.93	−192	−30.95	28.98	29.94
EPS (Rs)	−1.47	−0.84	0.36	0.44	−4.78	0.91	0.36	−0.90	−3.39	−0.55	0.50	0.49
Dividend payout %	0.0%	0.0%	0.0%	0.0%	0.0%	82.1%	0.0%	0.0%	0.0%	0.0%	0.0%	—

Subex balance sheet

₹ crore, at each year end.

Subex Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	182	501	505	560	560	560	280	280	280	280	280	280
Reserves	25.96	231	177	217	232	−47.07	269	283	241	53.06	23.04	62.08
Borrowings	725	228	186	32.12	0.00	49.14	26.07	15.05	33.11	28.06	19.06	28.10
Other Liabilities	187	79.62	85.58	80.87	96.35	114	150	140	139	167	163	181
Total Liabilities	1,119	1,040	955	890	888	677	724	718	694	527	486	551
Fixed Assets	863	773	667	665	662	392	374	367	384	228	216	228
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	12.02	14.03	9.01	22.04	32.09
Other Assets	257	267	288	226	226	286	350	338	296	292	248	291
Trade receivables	109	111	119	92.74	84.77	91.75	99.85	96.83	89.79	102	77.84	93.80
Cash & equivalents	49.16	86.37	74.24	33.11	42.14	91.33	146	109	109	101	61.27	101
Total Assets	1,119	1,040	955	890	888	677	724	718	694	527	486	551

Subex cash flow

₹ crore, for each year.

Subex Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	63.87	65.86	53.89	53.81	54.82	65.82	90.73	−7.98	8.97	−7.98	9.98	71.75
Cash from investing activity	−10.96	6.97	−10.96	−6.97	−10.97	−1.99	−5.98	−33.87	−35.85	33.86	−15.94	−30.91
Cash from financing activity	−46.88	−35.94	−54.87	−90.76	−33.91	−12.97	−31.94	−14.98	−6.98	−8.98	−11.98	−8.98
Net cash flow	6.02	37.06	−12.01	−44.09	9.01	51.10	53.13	−58.11	−33.07	17.04	−19.04	32.05
Capex	6.02	3.01	6.01	3.01	2.01	4.01	9.03	5.02	5.01	3.01	2.01	4.01
Free cash flow	58.26	63.29	48.18	51.21	52.18	63.21	82.33	−14.06	4.01	−11.04	7.03	68.29
CFO / OP %	86.0%	85.0%	74.0%	204.0%	127.0%	94.0%	106.0%	41.0%	−48.0%	−36.0%	−124.0%	146.0%

Subex ratios

Working-capital days and returns, by year.

Subex Ratios
	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	110	126	121	105	90	92	98	106	118	120	99	122
Cash conversion cycle	110	126	121	105	90	92	98	106	118	120	99	122
Working capital days	−68	−127	−95	52	61	63	70	111	72	45	53	71
ROCE %	9.0%	7.0%	10.0%	4.0%	6.0%	13.0%	16.0%	6.0%	−6.0%	−5.0%	−6.0%	13.0%

Subex: frequently asked questions

What are the latest quarterly results of Subex?

For the Jun 2026 quarter, Subex reported sales of ₹79.26 Cr, up 19.7% year on year and net profit of ₹13.97 Cr, up 7.6% year on year. The operating margin was 19.0%.

What is the annual revenue of Subex?

Subex's sales for the year to Mar 2026 were ₹280 Cr; over the last twelve months they were ₹293 Cr.

What is the net profit of Subex?

Net profit for the year to Mar 2026 was ₹28.98 Cr, and ₹29.94 Cr over the last twelve months. Earnings per share over the same trailing period were ₹0.49.

How much debt does Subex have?

Subex reported borrowings of ₹28.10 Cr at Mar 2026, against cash and equivalents of ₹101 Cr.

What is the free cash flow of Subex?

Cash from operations was ₹71.75 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹68.29 Cr.

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