Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹834, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 22x in the Software industry in India. Total returns to shareholders of 29% over the past three years. Reported Earnings • Feb 11
Third quarter 2026 earnings released: EPS: ₹7.86 (vs ₹13.28 in 3Q 2025) Third quarter 2026 results: EPS: ₹7.86 (down from ₹13.28 in 3Q 2025). Revenue: ₹2.20b (up 7.0% from 3Q 2025). Net income: ₹207.0m (down 41% from 3Q 2025). Profit margin: 9.4% (down from 17% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Software industry in India. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 21
Nucleus Software Exports Limited to Report Q3, 2026 Results on Feb 10, 2026 Nucleus Software Exports Limited announced that they will report Q3, 2026 results on Feb 10, 2026 Reported Earnings • Nov 09
Second quarter 2026 earnings: EPS and revenues miss analyst expectations Second quarter 2026 results: EPS: ₹9.99 (down from ₹12.35 in 2Q 2025). Revenue: ₹2.30b (up 14% from 2Q 2025). Net income: ₹262.9m (down 21% from 2Q 2025). Profit margin: 11% (down from 16% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) also missed analyst estimates by 32%. Revenue is forecast to grow 9.9% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in India. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 31
Nucleus Software Exports Limited to Report Q2, 2026 Results on Nov 08, 2025 Nucleus Software Exports Limited announced that they will report Q2, 2026 results at 9:15 AM, Indian Standard Time on Nov 08, 2025 Price Target Changed • Aug 04
Price target decreased by 13% to ₹1,350 Down from ₹1,560, the current price target is provided by 1 analyst. New target price is 33% above last closing price of ₹1,016. Stock is down 20% over the past year. The company is forecast to post earnings per share of ₹66.00 for next year compared to ₹61.40 last year. Announcement • Jul 22
Nucleus Software Exports Limited to Report Q1, 2026 Results on Jul 31, 2025 Nucleus Software Exports Limited announced that they will report Q1, 2026 results on Jul 31, 2025 Reported Earnings • Jul 05
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: ₹61.40 (down from ₹71.56 in FY 2024). Revenue: ₹8.32b (flat on FY 2024). Net income: ₹1.63b (down 15% from FY 2024). Profit margin: 20% (down from 23% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.6%. Revenue is forecast to grow 9.4% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in India. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 02
Nucleus Software Exports Limited, Annual General Meeting, Jul 28, 2025 Nucleus Software Exports Limited, Annual General Meeting, Jul 28, 2025, at 10:00 Indian Standard Time. New Risk • Jul 01
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 8.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.9% average weekly change). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Declared Dividend • Jun 28
Dividend of ₹12.50 announced Dividend of ₹12.50 is the same as last year. Ex-date: 11th July 2025 Payment date: 1st January 1970 Dividend yield will be 1.1%, which is lower than the industry average of 1.2%. Sustainability & Growth Dividend is well covered by both earnings (20% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 25% over the next 2 years, which should provide support to the dividend and adequate earnings cover. New Risk • May 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.5% average weekly change). Reported Earnings • May 17
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: ₹61.40 (down from ₹71.56 in FY 2024). Revenue: ₹8.99b (up 8.7% from FY 2024). Net income: ₹1.63b (down 15% from FY 2024). Profit margin: 18% (down from 23% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.6%. Revenue is forecast to grow 6.7% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in India. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • May 16
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 47% to ₹1,186. The fair value is estimated to be ₹931, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 44%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 47% in the next 2 years. Announcement • Apr 28
Nucleus Software Exports Limited to Report Fiscal Year 2025 Results on May 16, 2025 Nucleus Software Exports Limited announced that they will report fiscal year 2025 results on May 16, 2025 Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹944, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 26x in the Software industry in India. Total returns to shareholders of 121% over the past three years. Announcement • Apr 09
Nucleus Software Exports Limited Announces Appointment of Saurav Kumar Mohanty as Chief Risk Officer,Effective April 8, 2025 Nucleus Software Exports Limited announced the appointment of Saurav Kumar Mohanty as Chief Risk Officer,Effective April 8, 2025. Mr. Saurav Kumar Mohanty is a seasoned risk management professional with 16 years of enriched experience in Enterprise Risk Management for meeting business objective. His expertise lies in designing and setting up Enterprise Risk Management framework, identification and managing risk, managing and building governance framework on Strategic Risk, Operational risk, Project Risk, Fraud Risk, Information Security Risk, Crisis Management and Business continuity, Data Privacy and Regulatory & Compliance risk, develop strategic framework for dealing with risks and provide cutting-edge solutions. Mr. Mohanty is a certified lead auditor in ISO 27001:2013 and ISO 9001:2015 and also TCS certified internal auditor. Buy Or Sell Opportunity • Feb 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 27% to ₹828. The fair value is estimated to be ₹1,046, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 44%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 47% in the next 2 years. Reported Earnings • Jan 30
Third quarter 2025 earnings released: EPS: ₹13.28 (vs ₹15.43 in 3Q 2024) Third quarter 2025 results: EPS: ₹13.28 (down from ₹15.43 in 3Q 2024). Revenue: ₹2.06b (flat on 3Q 2024). Net income: ₹349.7m (down 15% from 3Q 2024). Profit margin: 17% (down from 20% in 3Q 2024). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Software industry in India. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Announcement • Jan 07
Nucleus Software Exports Limited to Report Q3, 2025 Results on Jan 28, 2025 Nucleus Software Exports Limited announced that they will report Q3, 2025 results on Jan 28, 2025 Reported Earnings • Nov 13
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: ₹12.35 (down from ₹16.65 in 2Q 2024). Revenue: ₹2.21b (up 7.8% from 2Q 2024). Net income: ₹330.6m (down 26% from 2Q 2024). Profit margin: 15% (down from 22% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) also missed analyst estimates by 23%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Software industry in India. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Announcement • Nov 01
Nucleus Software Exports Limited to Report Q2, 2025 Results on Nov 12, 2024 Nucleus Software Exports Limited announced that they will report Q2, 2025 results on Nov 12, 2024 Announcement • Aug 22
Nucleus Software Exports Limited (BSE:531209) announces an Equity Buyback for 448,018 shares, representing 1.67% for INR 723.55 million. Nucleus Software Exports Limited (BSE:531209) announces a share repurchase program. Under the offer, the company will repurchase up to 448,018 shares, representing 1.67% of its issued share capital, for a total consideration of INR 723.55 million. The maximum price at which the shares will be repurchased is INR 1,615 per share. The company has fixed September 3, 2024, as the record date for the program. As of August 16, 2024, the company had 26,773,324 shares in issue. New Risk • Aug 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.7% average weekly change). Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹1,410, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 35x in the Software industry in India. Total returns to shareholders of 168% over the past three years. Price Target Changed • Aug 06
Price target decreased by 10% to ₹1,540 Down from ₹1,720, the current price target is provided by 1 analyst. New target price is 28% above last closing price of ₹1,200. Stock is up 8.7% over the past year. The company is forecast to post earnings per share of ₹68.30 for next year compared to ₹71.56 last year. Reported Earnings • Aug 04
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: ₹11.28 (down from ₹20.00 in 1Q 2024). Revenue: ₹2.10b (up 1.8% from 1Q 2024). Net income: ₹302.0m (down 44% from 1Q 2024). Profit margin: 14% (down from 26% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 9.5%. Earnings per share (EPS) also missed analyst estimates by 42%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Software industry in India. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Announcement • Jul 24
Nucleus Software Exports Limited to Report Q1, 2025 Results on Aug 03, 2024 Nucleus Software Exports Limited announced that they will report Q1, 2025 results at 12:15 PM, Indian Standard Time on Aug 03, 2024 Buy Or Sell Opportunity • Jul 15
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to ₹1,497. The fair value is estimated to be ₹1,235, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 46%. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 44% in the next 2 years. Buy Or Sell Opportunity • Jul 01
Now 13% overvalued after recent price rise Over the last 90 days, the stock has risen 8.4% to ₹1,410. The fair value is estimated to be ₹1,247, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 46%. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 44% in the next 2 years. Buy Or Sell Opportunity • Jun 24
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to ₹1,437. The fair value is estimated to be ₹1,153, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 46%. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 44% in the next 2 years. Reported Earnings • Jun 23
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: ₹71.56 (up from ₹47.73 in FY 2023). Revenue: ₹8.26b (up 30% from FY 2023). Net income: ₹1.92b (up 50% from FY 2023). Profit margin: 23% (up from 20% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.0%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Software industry in India. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Announcement • Jun 22
Nucleus Software Exports Limited, Annual General Meeting, Jul 15, 2024 Nucleus Software Exports Limited, Annual General Meeting, Jul 15, 2024, at 11:00 Indian Standard Time. Declared Dividend • Jun 21
Dividend increased to ₹12.50 Dividend of ₹12.50 is 25% higher than last year. Ex-date: 5th July 2024 Payment date: 14th August 2024 Dividend yield will be 0.9%, which is lower than the industry average of 1.2%. Sustainability & Growth Dividend is well covered by both earnings (17% earnings payout ratio) and cash flows (17% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 40% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • May 30
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹1,166, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 29x in the Software industry in India. Total returns to shareholders of 100% over the past three years. Announcement • May 12
Nucleus Software Exports Limited to Report Q4, 2024 Results on May 23, 2024 Nucleus Software Exports Limited announced that they will report Q4, 2024 results on May 23, 2024 Announcement • May 09
Nucleus Software Exports Limited Announces CFO Changes Nucleus Software Exports Limited at its board meeting held on May 8, 2024 appointed Mr. Surya Prakash Kanodia as the Chief Financial Officer (CFO) and Key Managerial Personnel of the Company with effect from May 8, 2024, and Mr. Anurag Mantri to be relieved from his additional responsibility of Chief Financial Officer (CFO) of the Company with effect from May 7, 2024. Mr. Mantri will continue with his current position as an Executive Director and Chief Operating Officer (COO) of the Company. Mr. Surya Prakash Kanodia is a senior finance leader having more than 20 years of vast and diverse experience in streamlining, reorganizing and integration of finance objectives like forecasting, budgeting, controlling to deliver profitable results. His specialization includes structuring large deals, establishing partnerships, Pricing and contract management, risk monitoring and stakeholder management. He has worked with leading IT Companies in the past. Mr. Kanodia is a Chartered Accountant and a Chartered Financial Analyst. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹1,405, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 34x in the Software industry in India. Total returns to shareholders of 169% over the past three years. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹1,299, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 32x in the Software industry in India. Total returns to shareholders of 158% over the past three years. Reported Earnings • Feb 13
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: ₹15.43 (up from ₹14.32 in 3Q 2023). Revenue: ₹2.16b (up 28% from 3Q 2023). Net income: ₹413.1m (up 7.7% from 3Q 2023). Profit margin: 19% (down from 23% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 6.0%. Earnings per share (EPS) also missed analyst estimates by 17%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Software industry in India. Over the last 3 years on average, earnings per share has increased by 37% per year whereas the company’s share price has increased by 39% per year. Announcement • Jan 26
Nucleus Software Exports Limited to Report Q3, 2024 Results on Feb 12, 2024 Nucleus Software Exports Limited announced that they will report Q3, 2024 results at 12:15 PM, Indian Standard Time on Feb 12, 2024 Announcement • Dec 26
Nucleus Software Exports Limited Announces Resignation of Pardeep Pahal as Chief Human Resource Officer, Effective on December 27, 2023 Nucleus Software Exports Limited informed that Mr. Pardeep Pahal, appointed as Chief Human Resource Officer is departing the Company, effective on December 27, 2023. On mutually deciding to part ways, Mr. Pardeep Pahal is amicably relieved from his role to pursue other interests. Mr. Pardeep Pahal is MBA from IMT Ghaziabad, MSW from Jamia Islamia and specialization in Labour Laws from MMH college. New Risk • Nov 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (26% accrual ratio). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.4% average weekly change). Reported Earnings • Nov 10
Second quarter 2024 earnings released: EPS: ₹16.65 (vs ₹4.12 in 2Q 2023) Second quarter 2024 results: EPS: ₹16.65 (up from ₹4.12 in 2Q 2023). Revenue: ₹2.17b (up 67% from 2Q 2023). Net income: ₹445.9m (up 304% from 2Q 2023). Profit margin: 21% (up from 8.5% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Software industry in India. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 26
Nucleus Software Exports Limited to Report Q2, 2024 Results on Nov 09, 2023 Nucleus Software Exports Limited announced that they will report Q2, 2024 results on Nov 09, 2023 Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹1,318, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 25x in the Software industry in India. Total returns to shareholders of 127% over the past three years. Announcement • Sep 21
Nucleus Software Exports Limited Appoints Anurag Mantri as Chief Operating Officer, Effective September 21, 2023 Nucleus Software Exports Limited announced that Mr. Anurag Mantri, Executive Director and CFO is also designated as Chief Operating Officer of the Company with effect from September 21, 2023. Mr. Anurag Mantri started his career with Nucleus Software in 1994. While working with Nucleus, Anurag has managed complex global and regional business transformation programs and Digital Transformation Initiatives. Anurag had also managed the Global Customer care Centre of Excellence for Transaction Banking and led sales for Nucleus's flagship products FinnOne Neo and FinnAxia in Southeast Asia. Anurag has also led Services and Cloud Technologies Businesses for Nucleus. He strongly believes in providing thought partnership and high-quality experiential certainty to his customers. He joined the Board in December 2020. His areas of expertise include Business Transformation, Complex Program Management and Spawning successful Business Leaders. In this role, Anurag will be having a sharp focus on driving Nucleus 3.0. Reported Earnings • Aug 05
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: ₹20.00 (up from ₹4.02 in 1Q 2023). Revenue: ₹2.07b (up 61% from 1Q 2023). Net income: ₹535.6m (up 397% from 1Q 2023). Profit margin: 26% (up from 8.4% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 15%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Software industry in India. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Aug 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 5 highly experienced directors. CFO, P&L Head of Services and Executive Director Anurag Mantri was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 25
Nucleus Software Exports Limited to Report Q1, 2024 Results on Aug 04, 2023 Nucleus Software Exports Limited announced that they will report Q1, 2024 results on Aug 04, 2023 Announcement • Jul 15
Nucleus Software Exports Limited Approves Final Dividend for the Financial Year Ended March 31, 2023 Nucleus Software Exports Limited announced that at the AGM was held on July 14, 2023, the company approved the final dividend of INR 10.00/- per Equity Share for the financial year ended March 31, 2023. Upcoming Dividend • Jun 30
Upcoming dividend of ₹10.00 per share at 0.9% yield Eligible shareholders must have bought the stock before 07 July 2023. Payment date: 13 August 2023. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (1.6%). Announcement • Jun 16
Nucleus Software Exports Limited, Annual General Meeting, Jul 14, 2023 Nucleus Software Exports Limited, Annual General Meeting, Jul 14, 2023, at 11:00 Indian Standard Time. Announcement • May 29
Nucleus Software Exports Limited Declares Final Dividend Nucleus Software Exports Limited at its Board of Directors meeting held on May 26, 2023 has declared a Final dividend of INR 10.00/- per Equity Share (i.e. 100% of face value of INR 10 each) of the Company for FY-22-23 subject to the approval of the Shareholders at the ensuing Annual General Meeting. Reported Earnings • May 27
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: ₹47.73 (up from ₹14.28 in FY 2022). Revenue: ₹6.69b (up 35% from FY 2022). Net income: ₹1.28b (up 212% from FY 2022). Profit margin: 19% (up from 8.2% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.7%. Earnings per share (EPS) also surpassed analyst estimates by 49%. Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in India. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 50% per year, which means it is well ahead of earnings. Announcement • May 26
Nucleus Software Exports Limited to Report Q4, 2023 Results on May 26, 2023 Nucleus Software Exports Limited announced that they will report Q4, 2023 results at 12:15 PM, Indian Standard Time on May 26, 2023 Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ₹809, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 22x in the Software industry in India. Total returns to shareholders of 247% over the past three years. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹628, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 18x in the Software industry in India. Total returns to shareholders of 260% over the past three years. Price Target Changed • Feb 20
Price target increased by 11% to ₹670 Up from ₹601, the current price target is provided by 1 analyst. New target price is 16% above last closing price of ₹577. Stock is up 22% over the past year. The company is forecast to post earnings per share of ₹32.00 for next year compared to ₹14.28 last year. Reported Earnings • Feb 15
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: ₹14.32 (up from ₹2.77 in 3Q 2022). Revenue: ₹1.79b (up 47% from 3Q 2022). Net income: ₹383.4m (up 377% from 3Q 2022). Profit margin: 22% (up from 6.6% in 3Q 2022). Revenue exceeded analyst estimates by 22%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Software industry in India. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹480, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 18x in the Software industry in India. Total returns to shareholders of 65% over the past three years. Announcement • Feb 03
Nucleus Software Exports Limited to Report Q3, 2023 Results on Feb 14, 2023 Nucleus Software Exports Limited announced that they will report Q3, 2023 results on Feb 14, 2023 Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment improved over the past week After last week's 16% share price gain to ₹445, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 18x in the Software industry in India. Total returns to shareholders of 49% over the past three years. Reported Earnings • Nov 08
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: ₹4.12 (up from ₹2.95 in 2Q 2022). Revenue: ₹1.39b (up 22% from 2Q 2022). Net income: ₹110.3m (up 29% from 2Q 2022). Profit margin: 7.9% (up from 7.5% in 2Q 2022). Revenue missed analyst estimates by 6.1%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in India. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • Aug 12
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: EPS: ₹4.02 (up from ₹2.07 in 1Q 2022). Revenue: ₹1.35b (up 25% from 1Q 2022). Net income: ₹107.7m (up 80% from 1Q 2022). Profit margin: 8.0% (up from 5.5% in 1Q 2022). Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 33%. Over the next year, revenue is forecast to grow 26%, compared to a 22% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 23
Upcoming dividend of ₹7.00 per share Eligible shareholders must have bought the stock before 30 June 2022. Payment date: 07 August 2022. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 1.9%. Within top quartile of Indian dividend payers (1.9%). In line with average of industry peers (1.8%). Reported Earnings • Jun 19
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: ₹14.28 (down from ₹40.62 in FY 2021). Revenue: ₹4.97b (down 3.2% from FY 2021). Net income: ₹409.1m (down 65% from FY 2021). Profit margin: 8.2% (down from 23% in FY 2021). Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) also surpassed analyst estimates by 8.2%. Over the next year, revenue is forecast to grow 26%, compared to a 24% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • May 18
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: ₹14.28 (down from ₹40.62 in FY 2021). Revenue: ₹5.32b (up 3.6% from FY 2021). Net income: ₹409.1m (down 65% from FY 2021). Profit margin: 7.7% (down from 23% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) also surpassed analyst estimates by 8.2%. Over the next year, revenue is forecast to grow 8.4%, compared to a 25% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Price Target Changed • Apr 27
Price target decreased to ₹650 Down from ₹700, the current price target is provided by 1 analyst. New target price is 52% above last closing price of ₹427. Stock is down 21% over the past year. The company is forecast to post earnings per share of ₹13.20 for next year compared to ₹40.62 last year. Buying Opportunity • Feb 24
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be ₹572, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 2.7% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₹465, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 23x in the Software industry in India. Total returns to shareholders of 48% over the past three years. Reported Earnings • Feb 08
Third quarter 2022 earnings: EPS misses analyst expectations Third quarter 2022 results: EPS: ₹2.77 (down from ₹8.55 in 3Q 2021). Revenue: ₹1.22b (down 2.0% from 3Q 2021). Net income: ₹80.4m (down 68% from 3Q 2021). Profit margin: 6.6% (down from 20% in 3Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 31%. Over the next year, revenue is forecast to grow 19%, compared to a 22% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Feb 07
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 4.9%. The fair value is estimated to be ₹707, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 11% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₹498, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 23x in the Software industry in India. Total returns to shareholders of 37% over the past three years. Reported Earnings • Nov 13
Second quarter 2022 earnings released: EPS ₹2.95 (vs ₹10.14 in 2Q 2021) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹1.24b (down 9.7% from 2Q 2021). Net income: ₹85.8m (down 71% from 2Q 2021). Profit margin: 6.9% (down from 22% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹566, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 25x in the Software industry in India. Total returns to shareholders of 48% over the past three years.