Subex Ltd (SUBEXLTD) — shareholding pattern, promoter holding, financials and share price
About Subex Ltd (SUBEXLTD)
Subex Ltd operates in the Software Products industry, within the Information Technology sector. It trades on the NSE as SUBEXLTD and on the BSE under scrip code 532348. Its ISIN is INE754A01055.
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]
Subex Limited is a telecom-focused Business Support Systems (BSS) software vendor that provides revenue assurance, fraud management, analytics, ROC (Revenue Operations Centre) solutions and managed services to communications service providers globally, with core product development and R&D based in Bangalore and commercial presence across EMEA, APAC, Americas and the Middle East.
Q3 FY26 showed visible bottom‑line recovery: Subex reported revenue of INR 70.79 crores, normalized EBITDA improved to INR 9.29 crores with a 13.1% margin, normalized PAT turned positive at INR 7.68 crores, DSO declined materially and cash & equivalents rose to INR 154.12 crores, reflecting strengthened liquidity and operational discipline at Subex.
Listed peers in Software Products: Unicommerce eSolutions Ltd, Quick Heal Technologies Ltd, TAC Infosec Ltd, IRIS Regtech Solutions Ltd, ABM Knowledgeware Ltd, Virtual Galaxy Infotech Ltd.
Valuation & Returns
10 Jul 2026At ₹13.12 a share on 10 Jul 2026, Subex Ltd (SUBEXLTD) was valued at a price-to-earnings ratio of 25.84x against an industry P/E of 17.23x and a price-to-book of 2.42x on a book value of ₹5.42 per share as of Mar 2025. Solomo computes return on equity of 9.37% and return on capital employed of 12.59% from filed results. Earnings ratios use consolidated results for the twelve months Jun 2025 to Mar 2026.
- P/E
- 25.84x
- Industry P/E
- 17.23x
- P/B
- 2.42x
- EPS (TTM)
- ₹0.51
- Book value / share
- ₹5.42
- ROE
- 9.37%
- ROCE
- 12.59%
- ROA
- 5.86%
- Debt / equity
- 0.06x
- Dividend yield
- 0%
- EBITDA margin
- 18.93%
- 52-week range
- ₹6.63 – ₹14.84
Ratios are computed from filed results and the last recorded price. Not investment advice.
Financial Performance
Mar 2026In the year ended Mar 2026, Subex Ltd (SUBEXLTD) reported revenue of ₹279 crore, net profit of ₹29 crore and earnings per share of ₹0.51. That compares with revenue of ₹286 crore and net profit of ₹-31 crore in Mar 2025. Figures are consolidated, as filed with the exchanges.
In the quarter ended Mar 2026, revenue was ₹72.96 crore and net profit ₹9.93 crore (consolidated).
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue (₹ cr) | 333 | 279 | 310 | 286 | 279 |
| Net profit (₹ cr) | 21 | -51 | -192 | -31 | 29 |
| EPS (₹) | 0.37 | -0.91 | -3.4 | -0.56 | 0.51 |
| Measure | 10Y | 5Y | 3Y | 1Y |
|---|---|---|---|---|
| Sales growth | -1.06% | 90.23% | 57.84% | -7.78% |
| Profit growth | - | - | - | 83.60% |
| Stock price CAGR | 0% | -28% | -28% | -7% |
Ownership Summary
Jun 2026As of Jun 2026, promoters hold 0% of Subex Ltd (SUBEXLTD) (unchanged from the previous quarter), foreign institutional investors (FII) hold 0.59% and domestic institutional investors (DII) hold 0%. Market capitalisation was ₹737 crore on 10 Jul 2026. Shareholding is filed quarterly with BSE and NSE; Solomo carries every filing back to Mar 2001.
Largest disclosed public shareholders in Jun 2026: HUF 4.9%. Only stakes above the 1% disclosure threshold are named in filings.
| Quarter | Promoter | Pledged | FII | DII | Public |
|---|---|---|---|---|---|
| Jun 2026 | 0% | - | 0.59% | 0% | 98.73% |
| Mar 2026 | 0% | - | 1.1% | 0.02% | 98.73% |
| Dec 2025 | 0% | - | 0.92% | 0.02% | 98.73% |
| Sep 2025 | 0% | - | 0.77% | 0.02% | 98.73% |
| Jun 2025 | 0% | - | 0.77% | 0.02% | 98.73% |
| Mar 2025 | 0% | - | 1.74% | 0.01% | 98.62% |
| Dec 2024 | 0% | - | 1.03% | 0.01% | 98.62% |
| Sep 2024 | 0% | - | 1.05% | 0.01% | 98.62% |