New Risk • May 04
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 8.7% 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 Share price has been volatile over the past 3 months (8.7% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₹5.18b market cap, or US$54.6m). Tillkännagivande • Apr 20
Subex Limited to Report Q4, 2026 Results on May 12, 2026 Subex Limited announced that they will report Q4, 2026 results on May 12, 2026 Buy Or Sell Opportunity • Mar 02
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 26% to ₹8.75. The fair value is estimated to be ₹11.35, 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. Meanwhile, the company has become profitable. Reported Earnings • Feb 11
Third quarter 2026 earnings released: EPS: ₹0.05 (vs ₹0.06 loss in 3Q 2025) Third quarter 2026 results: EPS: ₹0.05 (up from ₹0.06 loss in 3Q 2025). Revenue: ₹750.4m (up 3.2% from 3Q 2025). Net income: ₹29.3m (up ₹61.8m from 3Q 2025). Profit margin: 3.9% (up from net loss in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Tillkännagivande • Jan 13
Subex Limited to Report Q3, 2026 Results on Feb 10, 2026 Subex Limited announced that they will report Q3, 2026 results on Feb 10, 2026 Reported Earnings • Nov 12
Second quarter 2026 earnings released: EPS: ₹0.05 (vs ₹0.011 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.05 (up from ₹0.011 in 2Q 2025). Revenue: ₹704.3m (down 5.0% from 2Q 2025). Net income: ₹28.6m (up 361% from 2Q 2025). Profit margin: 4.1% (up from 0.8% in 2Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Tillkännagivande • Oct 28
Subex Limited to Report Q2, 2026 Results on Nov 11, 2025 Subex Limited announced that they will report Q2, 2026 results on Nov 11, 2025 Tillkännagivande • Aug 29
Subex Limited, Annual General Meeting, Sep 29, 2025 Subex Limited, Annual General Meeting, Sep 29, 2025, at 11:00 Indian Standard Time. Reported Earnings • Aug 12
First quarter 2026 earnings released: EPS: ₹0.23 (vs ₹0.20 loss in 1Q 2025) First quarter 2026 results: EPS: ₹0.23 (up from ₹0.20 loss in 1Q 2025). Revenue: ₹822.1m (up 21% from 1Q 2025). Net income: ₹128.1m (up ₹240.2m from 1Q 2025). Profit margin: 16% (up from net loss in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Tillkännagivande • Jul 22
Subex Limited to Report Q1, 2026 Results on Aug 11, 2025 Subex Limited announced that they will report Q1, 2026 results on Aug 11, 2025 New Risk • May 05
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 9.3% 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 Earnings have declined by 5.4% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.3% average weekly change). Market cap is less than US$100m (₹7.11b market cap, or US$84.3m). Reported Earnings • May 05
Full year 2025 earnings released: ₹0.57 loss per share (vs ₹3.47 loss in FY 2024) Full year 2025 results: ₹0.57 loss per share (improved from ₹3.47 loss in FY 2024). Revenue: ₹2.93b (down 5.5% from FY 2024). Net loss: ₹314.4m (loss narrowed 84% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 44 percentage points per year, which is a significant difference in performance. New Risk • May 04
New major risk - Revenue and earnings growth Earnings have declined by 8.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 8.6% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₹6.30b market cap, or US$74.4m). Tillkännagivande • Apr 23
Subex Limited to Report Q4, 2025 Results on May 02, 2025 Subex Limited announced that they will report Q4, 2025 results on May 02, 2025 New Risk • Feb 14
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.46b (US$97.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Significant insider selling over the past 3 months (₹4.9m sold). Market cap is less than US$100m (₹8.46b market cap, or US$97.5m). Reported Earnings • Feb 13
Third quarter 2025 earnings released: ₹0.06 loss per share (vs ₹0.09 loss in 3Q 2024) Third quarter 2025 results: ₹0.06 loss per share (improved from ₹0.09 loss in 3Q 2024). Revenue: ₹737.6m (down 9.9% from 3Q 2024). Net loss: ₹32.5m (loss narrowed 34% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Tillkännagivande • Feb 12
Subex Limited Announces Appointment of Ramu Akkili as Company Secretary and Compliance Officer Subex Limited announced that at its Board Meeting held on February 12, 2025, approved the appointment of Ramu Akkili as Company Secretary & Compliance Officer of the Company, based on the recommendation of Nomination and Remuneration Committee, with effect from February 12, 2025, who shall be the Key Managerial Personnel as per the provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Ramu Akkili is a qualified Company Secretary with a postgraduate degree in Commerce. He has over 22 years of experience in the secretarial, finance, and legal domains. He has been instrumental in his previous companies in acquiring foreign entities, facilitating divestments, incorporating companies both in India and abroad, implementing robust compliance management systems, strengthening shareholder engagement, and managing critical corporate functions while ensuring cost efficiencies and upholding the highest standards of compliance & corporate governance. Tillkännagivande • Jan 31
Subex Limited to Report Q3, 2025 Results on Feb 12, 2025 Subex Limited announced that they will report Q3, 2025 results on Feb 12, 2025 Recent Insider Transactions • Dec 13
Insider recently sold ₹1.2m worth of stock On the 6th of December, Ashwin Menon sold around 49k shares on-market at roughly ₹25.04 per share. This transaction amounted to 39% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹76m more than they bought in the last 12 months. Recent Insider Transactions • Nov 28
General Counsel recently sold ₹1.0m worth of stock On the 21st of November, Bhavna Singh sold around 45k shares on-market at roughly ₹22.68 per share. This transaction amounted to 36% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹2.2m. Insiders have been net sellers, collectively disposing of ₹78m more than they bought in the last 12 months. Reported Earnings • Nov 09
Second quarter 2025 earnings released: EPS: ₹0.01 (vs ₹0.20 loss in 2Q 2024) Second quarter 2025 results: EPS: ₹0.01 (up from ₹0.20 loss in 2Q 2024). Revenue: ₹753.6m (down 1.9% from 2Q 2024). Net income: ₹6.20m (up ₹116.7m from 2Q 2024). Profit margin: 0.8% (up from net loss in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance. Tillkännagivande • Nov 08
Subex Limited Announces the Resignation of Mr. G. V. Krishnakanth as Company Secretary and Compliance Officer, Effective from November 10, 2024 Subex Limited announced the resignation of Mr. G. V. Krishnakanth, Company Secretary and Compliance Officer of the Company for pursuing his career goals. The Board took note of the resignation of Mr. G. V. Krishnakanth, and he will be relieved from his duties with effect from November 10, 2024. Tillkännagivande • Oct 31
Subex Limited to Report First Half, 2025 Results on Nov 08, 2024 Subex Limited announced that they will report first half, 2025 results on Nov 08, 2024 Recent Insider Transactions • Aug 21
Insider recently sold ₹29m worth of stock On the 19th of August, Shiva Naga Roddam sold around 948k shares on-market at roughly ₹30.46 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹83m more than they bought in the last 12 months. Tillkännagivande • Aug 07
Subex Limited Appoints Murali Kalyanaraman as an Independent Director of the Company Subex Limited appointed Murali Kalyanaraman (DIN: 07011607) as an independent director of the company. Tillkännagivande • Aug 01
Subex Limited to Report Q1, 2025 Results on Aug 05, 2024 Subex Limited announced that they will report Q1, 2025 results on Aug 05, 2024 Reported Earnings • Jul 12
Full year 2024 earnings released: ₹3.47 loss per share (vs ₹0.93 loss in FY 2023) Full year 2024 results: ₹3.47 loss per share (further deteriorated from ₹0.93 loss in FY 2023). Revenue: ₹3.10b (up 11% from FY 2023). Net loss: ₹1.92b (loss widened 274% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Jul 04
Associate Director - Marketing recently sold ₹1.0m worth of stock On the 28th of June, Ramya Raj sold around 35k shares on-market at roughly ₹29.68 per share. This transaction amounted to 34% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹2.9m. Insiders have been net sellers, collectively disposing of ₹61m more than they bought in the last 12 months. Tillkännagivande • May 16
Subex Limited Announces Resignation of George Zacharias as Independent Director Subex Limited announced cessation of Mr. George Zacharias as an Independent Director of the Company on the completion of his tenure (first term). Tillkännagivande • May 12
Subex Limited, Annual General Meeting, Aug 05, 2024 Subex Limited, Annual General Meeting, Aug 05, 2024, at 11:00 Indian Standard Time. Tillkännagivande • May 11
Subex Limited Announces Board Changes Subex Limited at the Board meeting held on May 10, 2024 approved the appointment of Ms. Nisha Dutt as an Additional Director with effect from May 10, 2024. Further, The Board appointed her as the Managing Director and Chief Executive Officer of the Company for a period of 3 (three) years with effect from May 10, 2024. Approved the appointment of Mr. Murali Kalyanaraman as an Additional Director (Category: Non-Executive, Independent) with effect from May 10, 2024, for a period of 3 (three) years with effect from May 10, 2024. Cessation of Mr. George Zacharias as an Independent Director of the Company with effect from May 12, 2024. Ms. Nisha Dutt, has over two decades of experience in consulting, advisory, Investment Banking and she has also been a technology entrepreneur. She holds a MS in Industrial Engineering from Oklahoma State University and Master's in Business Administration from Ohio University. Mr. Murali Kalyanaraman is a member of Institute of Chartered Accounts of India (ICAI) and has over three decades of experience in the field of finance. Mr. Kalyanaraman stands as a beacon of transformation in the finance sector, leveraging extensive experience to drive sustainable growth across global markets. He has worked at Tata Steel, Tata Elxsi, Tony Harris and Honeywell Technologies. Currently, he is a Managing Director & Chief Financial Officer of Indiaassetz Infrastructure. His contribution towards strategic innovation and robust financial management stands proof of his commitment to excellence and sustainable development. Tillkännagivande • Jan 31
Subex Limited to Report Q3, 2024 Results on Feb 07, 2024 Subex Limited announced that they will report Q3, 2024 results on Feb 07, 2024 Tillkännagivande • Oct 05
Subex Limited Announces Resignation of Shiva Shankar Naga Roddam as Chief Operating Officer, Effective from December 31, 2023 Subex Limited informed that Mr. Shiva Shankar Naga Roddam vide letter dated October 3, 2023, tendered his resignation as Chief Operating Officer of the Company on account of personal reasons. The Company has accepted his resignation and he will be relieved from his duties on December 31, 2023. Tillkännagivande • Sep 21
Subex Limited Announces Resignation of Suresh Kumar Chintada as Chief Technology Officer Subex Limited announced that Mr. Suresh Kumar Chintada resigned from his position as Chief Technology Officer of the Company on account of personal reasons with effect from close of business hours of September 19, 2023. Tillkännagivande • Sep 06
Subex Limited, Annual General Meeting, Sep 29, 2023 Subex Limited, Annual General Meeting, Sep 29, 2023, at 11:00 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Financial Statements (including Audited Consolidated Financial Statements) for the financial year ended March 31, 2023, together with the Report of the Board of Directors' and Auditors' thereon; to consider Appointment of Mr. Anil Singhvi as a Director, liable to retire by rotation, and being eligible, offers himself for re-appointment; to consider Appointment of Mr. Vinod Kumar Padmanabhan as a Non-Executive, Non-Independent Director of the Company; to appoint Mr. Rupinder Goel as an Independent Director of the Company; and to appoint Ms. Archana Muthappa as an Independent Director of the Company. Tillkännagivande • Aug 03
Subex Limited to Report Q1, 2024 Results on Aug 08, 2023 Subex Limited announced that they will report Q1, 2024 results at 12:15 PM, Indian Standard Time on Aug 08, 2023 Tillkännagivande • Feb 09
Subex Limited to Showcase Its AI Solutions At MWC Subex Limited announced that it will be participating in the upcoming Mobile World Congress (MWC), which will be held in Barcelona, Spain, from the 27th February - 2nd March 2023. Subex will be present in Booth #5D81 in Hall 5. At MWC, Subex will showcase its award-winning platform, HyperSense AI, and its capabilities to cover many AI-related use cases. Towards this, Subex will demonstrate its HyperSense AI-led solutions to drive growth, protect revenues, enhance profitability, optimize Capex and expand digital service offerings. Subex will also showcase the Machine Learning Operations (MLOps) capabilities of HyperSense AI to help data scientists and experts build Machine Learning models with larger scale, productivity, and efficiency while sustaining the model quality. The platform accelerates the time to get models production-ready, reducing human errors and driving AI at scale. In addition, Subex will unveil their "AI Trust Calculator" an auditing tool that measures and quantifies "Trust" on key pillars of the HyperSense AI framework, such as Technical Robustness, Model Transparency, Model Safety, Security & Privacy, and AI Trust Score. The company will also share examples of how AI-led process automation can be used to manage energy consumption leading to a reduction in carbon emissions. Tillkännagivande • Jan 26
Subex Limited to Report Q3, 2023 Results on Feb 03, 2023 Subex Limited announced that they will report Q3, 2023 results on Feb 03, 2023 Recent Insider Transactions • Jun 26
Head of Global Support recently sold ₹2.3m worth of stock On the 23rd of June, Renji George sold around 100k shares on-market at roughly ₹22.61 per share. In the last 3 months, they made an even bigger sale worth ₹3.2m. Insiders have been net sellers, collectively disposing of ₹125m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₹22.30, the stock trades at a trailing P/E ratio of 61.3x. Average trailing P/E is 27x in the Software industry in India. Total returns to shareholders of 231% over the past three years. Reported Earnings • Jun 03
Full year 2022 earnings released: EPS: ₹0.38 (vs ₹0.96 in FY 2021) Full year 2022 results: EPS: ₹0.38 (down from ₹0.96 in FY 2021). Revenue: ₹3.33b (down 10% from FY 2021). Net income: ₹209.9m (down 59% from FY 2021). Profit margin: 6.3% (down from 14% in FY 2021). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has increased by 63% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improved over the past week After last week's 23% share price gain to ₹38.95, the stock trades at a trailing P/E ratio of 53.6x. Average trailing P/E is 35x in the Software industry in India. Total returns to shareholders of 588% over the past three years. Recent Insider Transactions • Mar 23
Insider recently sold ₹3.5m worth of stock On the 17th of March, Panchanan Pradhan sold around 100k shares on-market at roughly ₹35.36 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹5.5m. Insiders have been net sellers, collectively disposing of ₹203m more than they bought in the last 12 months. Recent Insider Transactions • Mar 12
Head of Product & Strategy recently sold ₹3.8m worth of stock On the 10th of March, Rohit Maheshwari sold around 100k shares on-market at roughly ₹38.01 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹5.7m. Insiders have been net sellers, collectively disposing of ₹198m more than they bought in the last 12 months. Reported Earnings • Feb 02
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.04 (down from ₹0.16 in 3Q 2021). Revenue: ₹877.4m (down 6.5% from 3Q 2021). Net income: ₹20.8m (down 76% from 3Q 2021). Profit margin: 2.4% (down from 9.3% in 3Q 2021). Revenue was in line with analyst estimates. 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 103% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Jan 01
Insider recently sold ₹5.4m worth of stock On the 30th of December, Mohan Sitharam sold around 100k shares on-market at roughly ₹53.83 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹5.7m. Insiders have been net sellers, collectively disposing of ₹182m more than they bought in the last 12 months. Recent Insider Transactions • Dec 12
Insider recently sold ₹5.3m worth of stock On the 10th of December, Panchanan Pradhan sold around 100k shares on-market at roughly ₹53.15 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹5.7m. Insiders have been net sellers, collectively disposing of ₹156m more than they bought in the last 12 months. Recent Insider Transactions • Nov 16
Senior VP & CFO recently sold ₹5.3m worth of stock On the 12th of November, G. Venkatraman sold around 100k shares on-market at roughly ₹52.71 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹5.7m. G. has been a seller over the last 12 months, reducing personal holdings by ₹22m. Reported Earnings • Nov 03
Second quarter 2022 earnings released: EPS ₹0.09 (vs ₹0.23 in 2Q 2021) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹863.0m (down 7.5% from 2Q 2021). Net income: ₹48.2m (down 61% from 2Q 2021). Profit margin: 5.6% (down from 13% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 92% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₹42.45, the stock trades at a trailing P/E ratio of 55.1x. Average trailing P/E is 28x in the Software industry in India. Total returns to shareholders of 644% over the past three years. Recent Insider Transactions • Sep 28
Insider recently sold ₹5.2m worth of stock On the 23rd of September, Sherrin Renji sold around 100k shares on-market at roughly ₹52.05 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹5.7m. Insiders have been net sellers, collectively disposing of ₹111m more than they bought in the last 12 months. Recent Insider Transactions • Sep 17
Head of Product & Strategy recently sold ₹5.7m worth of stock On the 16th of September, Rohit Maheshwari sold around 100k shares on-market at roughly ₹57.06 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹6.1m. Insiders have been net sellers, collectively disposing of ₹105m more than they bought in the last 12 months. Recent Insider Transactions • Sep 03
Senior VP & CFO recently sold ₹5.2m worth of stock On the 1st of September, G. Venkatraman sold around 100k shares on-market at roughly ₹51.82 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹6.1m. G. has been a seller over the last 12 months, reducing personal holdings by ₹22m. Recent Insider Transactions • Aug 18
VP & Global Head - Managed Services recently sold ₹1.4m worth of stock On the 12th of August, Anshuman Saha sold around 25k shares on-market at roughly ₹56.41 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹15m. Insiders have been net sellers, collectively disposing of ₹89m more than they bought in the last 12 months. Reported Earnings • Aug 11
First quarter 2022 earnings released: EPS ₹0.25 (vs ₹0.28 in 1Q 2021) The company reported a poor first quarter result with weaker earnings and revenues, although profit margins were flat. First quarter 2022 results: Revenue: ₹806.0m (down 9.1% from 1Q 2021). Net income: ₹134.8m (down 11% from 1Q 2021). Profit margin: 17% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 102% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improved over the past week After last week's 20% share price gain to ₹68.30, the stock trades at a trailing P/E ratio of 60.1x. Average trailing P/E is 27x in the Software industry in India. Total returns to shareholders of 1,185% over the past three years. Upcoming Dividend • Jun 26
Upcoming dividend of ₹0.25 per share Eligible shareholders must have bought the stock before 01 July 2021. Payment date: 07 August 2021. Trailing yield: 1.3%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (2.1%). Reported Earnings • Jun 20
Full year 2021 earnings released: EPS ₹0.96 (vs ₹4.94 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹3.72b (up 1.9% from FY 2020). Net income: ₹517.2m (up ₹3.21b from FY 2020). Profit margin: 14% (up from net loss in FY 2020). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 108% per year, which means it is well ahead of earnings. Recent Insider Transactions • Jun 08
Head of Product & Strategy recently sold ₹10m worth of stock On the 3rd of June, Rohit Maheshwari sold around 175k shares on-market at roughly ₹58.50 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹15m. Insiders have been net sellers, collectively disposing of ₹53m more than they bought in the last 12 months. Recent Insider Transactions • May 28
Chief Financial Officer recently sold ₹6.0m worth of stock On the 25th of May, G. Venkatraman sold around 100k shares on-market at roughly ₹60.00 per share. This was the largest sale by an insider in the last 3 months. G. has been a seller over the last 12 months, reducing personal holdings by ₹7.4m. Reported Earnings • May 18
Full year 2021 earnings released: EPS ₹0.96 (vs ₹4.94 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹3.77b (up 3.2% from FY 2020). Net income: ₹517.2m (up ₹3.21b from FY 2020). Profit margin: 14% (up from net loss in FY 2020). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 111% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improved over the past week After last week's 15% share price gain to ₹60.30, the stock trades at a trailing P/E ratio of 42.5x. Average trailing P/E is 18x in the Software industry in India. Total returns to shareholders of 854% over the past three years. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improved over the past week After last week's 22% share price gain to ₹45.15, the stock trades at a trailing P/E ratio of 30.5x. Average trailing P/E is 17x in the Software industry in India. Total returns to shareholders of 462% over the past three years. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improved over the past week After last week's 18% share price gain to ₹32.55, the stock is trading at a trailing P/E ratio of 25.8x, up from the previous P/E ratio of 21.9x. This compares to an average P/E of 18x in the Software industry in India. Total returns to shareholders over the past three years are 305%. Is New 90 Day High Low • Mar 06
New 90-day high: ₹32.55 The company is up 7.0% from its price of ₹30.45 on 04 December 2020. The Indian market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Software industry, which is up 25% over the same period. Recent Insider Transactions • Feb 27
Chief Financial Officer recently sold ₹1.4m worth of stock On the 25th of February, G. Venkatraman sold around 50k shares on-market at roughly ₹27.81 per share. This was the largest sale by an insider in the last 3 months. This was G.'s only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improved over the past week After last week's 17% share price gain to ₹29.40, the stock is trading at a trailing P/E ratio of 20.7x, up from the previous P/E ratio of 17.7x. This compares to an average P/E of 15x in the Software industry in India. Total returns to shareholders over the past three years are 219%. Reported Earnings • Feb 02
Third quarter 2021 earnings released: EPS ₹0.16 (vs ₹5.77 loss in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: ₹949.4m (down 1.2% from 3Q 2020). Net income: ₹87.1m (up ₹3.21b from 3Q 2020). Profit margin: 9.2% (up from net loss in 3Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 64% per year but the company’s share price has increased by 44% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Dec 07
New 90-day high: ₹32.25 The company is up 231% from its price of ₹9.75 on 08 September 2020. The Indian market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 30% over the same period. Reported Earnings • Nov 10
Second quarter 2021 earnings released: EPS ₹0.23 The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₹942.9m (up 10% from 2Q 2020). Net income: ₹122.5m (up 94% from 2Q 2020). Profit margin: 13% (up from 7.4% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 83% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Nov 09
New 90-day high: ₹19.55 The company is up 69% from its price of ₹11.55 on 11 August 2020. The Indian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 22% over the same period. Is New 90 Day High Low • Oct 17
New 90-day high: ₹15.25 The company is up 92% from its price of ₹7.95 on 17 July 2020. The Indian market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 38% over the same period. Is New 90 Day High Low • Sep 29
New 90-day high: ₹12.25 The company is up 49% from its price of ₹8.20 on 01 July 2020. The Indian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 40% over the same period.