MoneyWorks4Me

Expleo Solutions Ltd (EXPLEOSOL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 533121 NSE: EXPLEOSOL IT - Software | Small Cap | Expleo Solutions Share Price

₹889.20 8.55 (0.97%)

As on 11-Sep'26 15:13

Expleo Solutions Ltd (EXPLEOSOL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 533121 NSE: EXPLEOSOL IT - Software | Small Cap | Expleo Solutions Share Price

₹889.20 8.55 (0.97%)

As on 11-Sep'26 15:13

Key Metrics
Valuation Multiples
Market Cap
₹1,367 Cr.
Current Price
₹889.2
52-Week Low / High
₹644 / 1,179
TTM EPS
₹88.8
TTM Sales
₹1,140 Cr.
Book Value per Share
₹522.2
P/E Ratio
9.92
Lower than its 5-year historical median
Industry PE
20.8
Price to Book (P/B)
1.69
Lower than its 5-year historical median
Price to Sales (P/S)
1.20
Lower than its 5-year historical median
EV/EBITDA
4.50
Lower than its 5-year historical median
Dividend Yield
12.37%
Profitability Efficiency
Return on Equity (ROE)
17.56%
Outperforms industry median
Return on Capital Employed (ROCE)
23.34%
Outperforms industry median
Return on Assets (ROA)
14.26%
Operating Profit Margin
15.3%
Net Profit Margin
11.19%
Gross Profit Margin
18.6%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-8.37%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
2.6%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
20.09%
Asset Quality
Promoter Holding
71.05%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹795 Cr.
Equity
₹15.5 Cr.
Face Value
₹10
All Time Low / High
₹30.10 / 1874.00

Expleo Solutions stock performance

Key Ratios
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Check Before You Invest

Valuation

Somewhat Undervalued

Price Trend

Strong
Q.1 Is Expleo Solutions Ltd a good quality company?
Expleo Solutions Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Expleo Solutions Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Expleo Solutions Ltd vs industry peers?
Expleo Solutions Ltd revenue CAGR is 25.56%, compared to the industry median CAGR of 3.19%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Expleo Solutions Ltd?
Promoters hold 71.05% of the Expleo Solutions Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Expleo Solutions Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 0.3% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Expleo Solutions Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 36.4%42.2%46.2%44.9%46.2%41.8%42.7%21.7%23.7%22%-
Value Creation
Index
1.62.02.32.22.32.02.10.60.70.6-

Growth Parameters

Sales 2602712832703017439039651,025939973
Sales YoY Gr.-4.3%4.3%-4.4%11.4%146.8%21.7%6.8%6.2%-8.4%-
Adj EPS 26.522.231.231.141.940.176.452.155.564.173.8
YoY Gr.--16.1%40.5%-0.3%35%-4.4%90.7%-31.9%6.7%15.4%-
BVPS (₹) 97.394.699.7112.3155.9224.4304.8351.2362.2430.3449.1
Adj Net
Profit
28.323.833.431.94362.211980.886.299.5115
Cash Flow from Ops. 14.154.654.214.136.61936.645.8135153-
Debt/CF from Ops. 0000000000-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 15.3%25.6%1.3%-8.4%
Adj EPS 10.3%8.9%-5.7%15.4%
BVPS18%22.5%12.2%18.8%
Share Price 0.3% -2.6% -15% -11.3%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
29.623.132.128.731.224.528.915.915.616.216.8
Op. Profit
Mgn %
18.213.11818.421.416.221.514.514.615.716.2
Net Profit
Mgn %
10.98.811.811.814.38.413.18.48.410.611.8
Debt to
Equity
0000000000-
Working Cap
Days
110103778910891127143142147122
Cash Conv.
Cycle
6457172142335079837799

Valuation of Expleo Solutions - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales2602712832703017439039651,0251,108
Operating Expenses > + 219231230217231618703817859938
Manufacturing Costs5694152177147146143150
Material Costs00000775715
Employee Cost 158184183146157384480575608690
Other Costs > 554137292251699110183
Operating Profit > 4140535370124200148166170
Operating Profit Margin (%) 15.9%14.9%18.8%19.7%23.2%16.7%22.2%15.4%16.2%15.3%
Other Income > + 11368561681638
Exceptional Items > 000000000-15
Interest > 0001112332
Depreciation > 565661928343928
Profit Before Tax > 3748545468110186120139163
Tax > 13161714184252293639
Profit After Tax 24323640506813490103124
PAT Margin (%) 9.2%11.8%12.8%14.8%16.8%9.1%14.8%9.4%10.1%11.2%
Adjusted EPS (₹)22.329.933.838.949.243.686.358.366.579.9
Dividend Payout Ratio (%)107.60%80.40%0%0%0%0%5.80%0%75.20%137.70%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 127128139152202394530611636776
Share Capital 11111110101616161616
Reserves 116118128142191379515596620761
Debt +0000000000
Long Term Debt0000000000
Short Term Debt0000000000
Minority Interest0000000000
Trade Payables3881257364286157
Others Liabilities 395343495512213612212187
Total Liabilities 169189190213263590730761818921

Fixed Assets

Net Fixed Assets +272219262510814213111373
Gross Block3031324347144198213250219
Accumulated Depreciation38141723365682137147
CWIP 0000066500
Investments 00000001500
Inventories0000020000
Trade Receivables4268467661174239249222230
Cash Equivalents flag 89859987131180156184229376
Others Assets 1114262346120187176254243
Total Assets 169189190213263590730761818921
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 4225411766242371179119
PBT 3748545468110186120139163
Adjustment 12-0525-11728344622
Changes in Working Capital 7-85-271358-145-4135-23
Tax Paid -14-15-24-13-20-27-46-42-41-42
Cash Flow From Investing Activity + -12-1925-8-434-36-31-5332
Capex -7-1-2-2-4-25-43-17-8-3
Net Investments -6-1925-8-25273-2013-6
Others 1122-14245-5941
Cash Flow From Financing Activity + -31-31-26-29-3-10-7-15-87-9
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000-000
Interest Paid 0000-1-1-1-2-3-2
Dividend Paid -26-26-210000-8-780
Others -5-5-4-29-2-10-5-5-6-7
Net Cash Flow -0-2539-202118-192539142
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)20.1825.0227.127.4428.5122.728.9615.8516.5617.56
ROCE (%)31.5237.740.1137.9139.2437.2940.6921.422.8623.34
Asset Turnover Ratio1.481.511.491.341.271.741.371.291.31.27
PAT to CFO Conversion(x)1.750.781.140.431.320.350.170.791.740.96
Working Capital Days
Receivable Days67.9074.4073.5082.2082.9057.6083.5092.508474.40
Inventory Days000001.100000
Payable Days000002,189.203,479.903,4242,166.501,487.80

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Announcements

Expleo Solutions Ltd FAQs

The current trading price of Expleo Solutions on 11-Sep-2026 15:13 is ₹889.2.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Sep-2026 the market cap of Expleo Solutions stood at ₹1,366.8 Cr

The latest P/E ratio of Expleo Solutions as of 10-Sep-2026 is 11.93.

The latest P/B ratio of Expleo Solutions as of 10-Sep-2026 is 1.96.

The 52-week high of Expleo Solutions is ₹1,179 and the 52-week low is ₹644.1.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Expleo Solutions is ₹973 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Expleo Solutions Ltd is a good quality company.

The key valuation ratios of Expleo Solutions Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Expleo Solutions Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Expleo Solutions Ltd

Expleo Solutions Limited (formerly known as SQS India BFSI Limited), incorporated on June 8, 1998 as a private limited company was converted into a public limited company with effect from August 19, 2008. The Company made its Initial Public Offering (IPO) of its Equity Shares on September 24, 2009 (issue open date) and shares under IPO were allotted on October 14, 2009. The Company’s shares were listed on the National Stock Exchange and Bombay Stock Exchange with effect from October 26, 2009.

The Company is a subsidiary of Expleo Technology Germany GmbH (formerly known as Expleo Technology Germany AG, Germany).

The company name has been changed from “Thinksoft Global Services Limited” to “SQS India BFSI Limited” and the trading symbol of the Company has been changed from THINKSOFT to SQSBFSI w.e.f. September 30, 2014. Further, the Company made an application for the change of name to the Registrar of Companies, Chennai and the Registrar of Companies had approved the application and had granted a new Certificate of Incorporation pursuant to change of name to “Expleo Solutions Limited” dated April 10, 2019. 

Expleo was born in 2017, when the outsourced R&D division of Assystem became the independent company Assystem Technologies. In 2018, Assystem Technologies acquired SQS (Software Quality Systems AG) to form a single organisation, later joined by management consultants Moorhouse and then Stirling Dynamics, a marine and aerospace specialist.

Expleo is now the unique provider of end-to-end, integrated engineering, quality services & management consulting for digital transformation. In today’s climate of unrelenting change, it brings the right mix of expertise, and the right balance of boldness and reliability, to meet its clients’ business needs.

Business area of the company

The Company is an India based software service provider primarily delivering software validation and verification services to the banking, financial services and insurance industry worldwide. The Company has invested in four wholly owned subsidiaries in Singapore, USA, UK and UAE for market development and service delivery in the respective regions.

Services

Consulting

  • Business agility
  • Digital business
  • Transformation delivery

Engineering

  • Design
  • Production
  • In-service support

History & Milestones

  • 1966: ATEM engineering firm (to become Assystem in 1995) founded in Paris, France to develop plants in the steel and nuclear industries.
  • 1982: SQS founded in Colonge, Germany
  • 1997: Assystem opens its first German subsidiary, in Hamburg.
  • 2013: SQS acquires a majority stake in Thinksoft Global Services Ltd, greatly increasing its activity from Indian offshore centres.
  • 2015: SQS acquires management consultancy firm Trissential LLC in the US.
  • 2017: The outsourced R&D division of Assystem SA, Global Product Solutions (GPS), breaks away to become an independent company, Assystem Technologies, opening new growth opportunities.
  • 2018: Assystem Technologies acquires Stirling Dynamics, a UK-based marine and aerospace engineering specialist.
  • 2018: Assystem Technologies acquires Moorhouse, a UK-based management consultancy.
  • 2018: Assystem Technologies acquires SQS Software Quality Systems AG (SQS).
  • 2019: Assystem Technologies group of companies becomes Expleo.
  • 2019: Expleo supports clients by opening offices in Australia, Czech Republic, Philippines and Russia.
  • 2020: Expleo celebrates the one-year anniversary of its relaunch under a new identity.
  • 2020: Rajesh Krishnamurthy appointed CEO of Expleo to lead next step of services and delivery model transformation.
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