₹16.72
-2.96% today
· 30d -13.41%
as of 2026-11-09
Price · Daily Candles
“Subex sees Public stake dip as FIIs nibble, but growth projections remain muted.”
Subex, a ₹606 Cr Software - Application company, recently reported a 3.34% YoY increase in quarterly revenue to ₹73.0 Cr. Despite this, its annual revenue declined by 2.29% YoY to ₹279.0 Cr. Valuation stands at a TTM PE of 21.43, with a ROCE of 13.0%, indicating a reasonable valuation but muted profitability compared to peers.
BULL CASE
+Q4 2026 revenue increased 3.34% YoY to ₹73.0 Cr, despite softer annual performance.
+Quarterly net profit rose to ₹10.0 Cr, with an operating profit margin of 20.72%.
+FIIs increased their stake by 0.18% in Q1 2026, reaching 1.1% of shareholding.
BEAR CASE
−Annual revenue for FY26 declined by 2.29% YoY to ₹279.0 Cr.
−ML models predict weak growth for EBIT over 1-year periods across recent (rank 0.173), rolling (rank 0.333), and stable (rank 0.375) horizons.
−The stock has returned -21.0% over the last 1 year and is 36.3% off its 52-week high of ₹17.19.
−Current ROCE of 13.0% is significantly lower than some sector peers like TATAELXSI (37.74%) and KFINTECH (32.73%).
⟳ What Changed
₹ Latest Earnings · Q ending 2026-09-30
REVENUE
₹86 Cr
+24.21% YoY
NET PROFIT
₹14 Cr
+399.65% YoY
OPM
23.07%
+11.99pp YoY
EPS
₹0.26
PE 21.43
Intrinsic value · DCF: N/A — ML model predicts severe Δ FCF compression (h1=-2.1%, h2=-4.6%, h3=-1.3% of mktcap), driving projected FCF negative by year 3 despite healthy current FCF. Treating as forecast outlier rather than reporting a misleading ₹0 valuation. Use the Strategy Fit and ML sections instead.
◇ Sector Position
Subex's TTM PE of 21.43 is lower than sector leaders like TATAELXSI (42.98) and BBOX (84.79), but its ROCE of 13.0% lags significantly behind peers like TATAELXSI (37.74%) and INTELLECT (21.02%).
PEERPEROCE %
SUBEXLTD21.4313.0
+ 2 more peers — sign in to view
ML Forward Growth Predictions 🔒
56
SCORE / 100
Overall
6-axis composite of the sections below.
Performance
STRONG
90
Valuation
REASONABLE
60
Growth
MUTED
32
Profitability
DECENT
68
Technicals
NEUTRAL
57
Risk
ELEVATED
30
Key Stats
TTM PE
21.43
P/B
1.94
52W HIGH
₹22.8
OFF HIGH
-26.67%
MKT CAP
₹926 Cr
◉ Active Signals
MACDBearish-0.0016
RSI(14)Neutral43.79
⧉ Strategy Fit 🔒