Subex
- Market cap
- ₹ 935 Cr.
- P/E
- 28.9x
- P/B
- 2.77x
- 52-week range
- 6.61 – 22.8
- ROE
- 10%
- ROCE
- 13%
- Dividend yield
- 0%
- Debt / equity
- 0.08
- Sector
- IT - Software
- Industry
- Software Products
- Listed on
- NSE, BSE
About
Subex Limited is an India-based provider of telecom analytics solutions. The Company is engaged in providing of operations and business support systems (OSS/BSS) to communication service providers (CSPs) worldwide in the telecom industry. The Company operates across North America, South America, Canada, Europe, Middle East, Singapore, Australia, and Bangladesh. It offers business assurance, fraud and security, network analytics, identity management, OT security, partner ecosystem management. The Company's network security suite offers comprehensive solutions, services, and consulting designed to secure networks and the components, thus ensuring network integrity and availability. Its AI-First Fraud Management on HyperSense is an end-to-end fraud management solution that provides 360-degree protection across various service offerings. The Company's operational technology (OT) and internet of things (IoT) cybersecurity solutions provides converged networks, detect malicious behaviors.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Software Products: 58 companies →Subex against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)28.9 against a typical 32.6: cheaper than most peers (1st = cheapest).28th of 58
- Sales growth+19.7% against a typical +16.4% from a year earlier.22nd of 46
- Profit growth+7.7% against a typical −14.3% from a year earlier.15th of 39
- Share price, 3 months+40.2% against a typical −9.3%.2nd of 51
- Size₹ 935.2 Cr. market value against a typical ₹ 59.8 Cr. (1st = largest).9th of 56
Latest announcements
Exchange filings and their impact on the company.
- Subex won a $0.7m 3-year HyperSense fraud management deal with an African operator.
Subex secured a new three-year deal with a leading African mobile operator to deploy its HyperSense Fraud Management solution across communications and mobile money operations. The deal is valued at USD 0.7 million (about Rs 6.2 crore) and extends Subex to another operating company within a major global telecom group. The win strengthens its Africa presence but adds only about Rs 2 crore per year against FY26 revenue of Rs 279 crore, so the near-term financial impact is small.
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 3 Nov 2026Upcoming | Financial Results | To consider and approve the financial results for the period ended September 30, 2026 |
| 5 Aug 2026 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2026 |
| 12 May 2026 | Financial Results | To consider and approve the financial results for the period ended March 31, 2026 |
| 10 Feb 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 11 Nov 2025 | Financial Results | To consider and approve the financial results for the period ended September 30, 2025 |
| 11 Aug 2025 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2025 |
| 2 May 2025 | Financial Results | To consider and approve the financial results for the period ended March 31, 2025 |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | 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 | 82 | 84 | 68 | 74 | 73 | 71 | 66 | 69 | 71 | 73 | 79 |
| Expenses | 81 | 81 | 81 | 74 | 72 | 70 | 84 | 62 | 63 | 62 | 64 | 64 |
| Operating Profit | −5 | 1 | 3 | −6 | 2 | 2 | −13 | 4 | 6 | 9 | 9 | 15 |
| OPM % | −6% | 0.7% | 3.7% | −9% | 2.5% | 3.4% | −18% | 6% | 9% | 13% | 13% | 19% |
| Other Income | 1 | 1 | −145 | 2 | 5 | 1 | 3 | 16 | 2 | 0 | 7 | 5 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 4 | 4 | 4 | 4 | 4 | 3 | 3 | 4 | 3 | 2 | 3 | 3 |
| Profit before tax | −8 | −2 | −147 | −8 | 3 | 0 | −14 | 15 | 4 | 6 | 13 | 16 |
| Tax % | 36% | 105% | 7% | 34% | 79% | 916% | 25% | 13% | 32% | 49% | 22% | 14% |
| Net Profit | −11 | −5 | −157 | −11 | 1 | −3 | −18 | 13 | 3 | 3 | 10 | 14 |
| EPS in Rs | −0.2 | −0.09 | −2.78 | −0.2 | 0.01 | −0.06 | −0.31 | 0.23 | 0.05 | 0.05 | 0.18 | 0.25 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- −1%
- 5 Years
- −6%
- 3 Years
- 0%
- TTM
- 3%
- 10 Years
- 12%
- 5 Years
- −8%
- 3 Years
- 38%
- TTM
- 449%
- 10 Years
- 4%
- 5 Years
- −19%
- 3 Years
- −17%
- TTM
- —
- 10 Years
- 2%
- 5 Years
- −4%
- 3 Years
- −5%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Subex | ₹ 17.22 | ₹ 935 Cr. | 28.9x | 2.8x | 10% | — |
| Tata Consultancy Services | ₹ 2,528.00 | ₹ 9,14,653 Cr. | 15.7x | 7.7x | 48% | 18.2% |
| Infosys | ₹ 1,154.50 | ₹ 4,68,523 Cr. | 14.8x | 4.8x | 31.2% | 16.5% |
| HCL Technologies | ₹ 1,424.00 | ₹ 3,86,426 Cr. | 18.8x | 4.4x | — | 13% |
| Tech Mahindra | ₹ 1,789.40 | ₹ 1,75,385 Cr. | 27.9x | 5.2x | — | 8.7% |
| Billionbrains Garage Ventures | ₹ 181.65 | ₹ 1,13,960 Cr. | 61.3x | 13.3x | — | 46.5% |
Management
- Nisha Dutt
- Chief Executive Officer, Managing Director, Executive Director
- Sumit Agarwal
- Chief Financial Officer
- Warren Dumanski
- Executive Vice President; General Manager, North America
- Ramu Akkili
- Compliance Officer, Company Secretary
- Bhavna Singh
- General Counsel
- Suraj Balachandran
- Head of Sales – EMEA and APAC
- Rohit Maheshwari
- Head of Strategy and Products
- Kiran Zachariah
- Head of IoT Security
Prices are delayed and for information only. Nothing on this page is investment advice.