X

Subex Ltd Stock Analysis

Small Cap
Evaluated by 1007 users | BSE: 532348 | NSE: SUBEXLTD |
IT - Software
Incorporated in 1992 by Subash Menon, Subex is the leading global provider of Operation Support System solutions (OSS) with a mission to empower communication service providers to achieve competitive advantage and deliver new service experiences to subscribers.With a start up capital of Rs...

Analysis of Financial Track Record

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.
Value Creation
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 10.24%7.66%1.92%2.63%2.34%-15.15%6.75%1.41%-1.63%-31.98%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 31432926629430629632418620.849.6
Y-o-Y Gr. Rt.-4.9%-19.3%10.6%4.1%-3.2%9.7%-42.6%-88.8%138.2%
Adjusted EPS (Rs.) 9.264.97-1.03-0.9-0.76-3.310.820.12-0.21-3.45
Y-o-Y Gr. Rt.--46.3%-120.7%NANANANA-85.4%-275%NA
Book Value per Share (Rs.) 44.0730.0620.0516.3815.7512.6712.5713.2112.668.88
Adjusted Net Profit 64.234.4-17.2-15-13.9-16741.36.7-11.9-194
Net Op. Cash Flow (Rs. Cr.) 52.725.8-23.936.649.335.458.962.5-0.8-12.5
Debt to Cash Flow from Ops 10.0422.7-27.4718.8613.174.331.85000
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Subex Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -18.5%-30.5%-46.5%138.2%
Adjusted EPS -189.6%NA-261.4%NA
Book Value per Share -16.3-10.8-10.9-29.9
Share Price -1.4% 17.1% 54.3% 435%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 19.1913.21-6.3-4.94-4.95-35.996.490.97-1.64-32.02
Operating Profit Margin (%) 32.8226.4415.2116.8615.0117.8416.659.2-1.5465.32
Net Profit Margin (%) 20.4710.46-6.46-5.12-4.56-56.3412.743.6-57.19-391.33
Debt to Equity 1.732.811.972.532.250.240.17000
Working Capital Days 302538947926914796463310923458
Cash Conversion Cycle 1020-39-176-161-172-1201113110
Entity Percentage Holding
Institutions 0.71%
Non-Institutions 99.29%
Pledged *10.4515.6821.480.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Subex Ltd's performance infers:

Subex Ltd earnings have grown by 0%, whereas share price has appreciated 17.1% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Subex Ltd share prices over the last 10 years. Here is what we found out:

Subex Ltd share price has appreciated -8.6% annually over the past ten years.

Incorporated in 1992 by Subash Menon, Subex is the leading global provider of Operation Support System solutions (OSS) with a mission to empower communication service providers to achieve competitive advantage and deliver new service experiences to subscribers.

With a start up capital of Rs 20,000 in 1992, it has won a client list that includes 32 of the world's 50 largest telecommunications service providers within a period

Incorporated in 1992 by Subash Menon, Subex is the leading global provider of Operation Support System solutions (OSS) with a mission to empower communication service providers to achieve competitive advantage and deliver new service experiences to subscribers.

With a start up capital of Rs 20,000 in 1992, it has won a client list that includes 32 of the world's 50 largest telecommunications service providers within a period of 17 years. It has more than 300 installations across 70 countries worldwide. Subex migrated into the software space in 2000.

It is organized into three distinct business units namely: Revenue Maximization Solutions BU, Fulfillment and Assurance Solutions BU (formerly Syndesis) and BT Business BU.

The company pioneered the strategic concept of the Revenue Operations Center  -- a centralized and integrated infrastructure for end-to-end monitoring, measurement and control of the operator's revenue chain -- to foster operational dexterity and, hence, sustained profitability.

Subex offers a wide range of solutions namely Revenue Assurance, Fraud Management, Credit Risk Management, Interconnect Billing, Interparty Management, Route Optimization and Cost Management.

Acquisitions:

  • 2001- Acquired Canada based Magardi Inc, 
  • 2004- Acquired Alcatel FMS Biz , Lightbridge FMS business,
  • 2006- Acquired Azure Solutions, UK
  • 2007- Acquired Syndesis , Canada

Milestones Achieved:

  • 2001- First international installation of FMS
  • 2002- Awarded a £39M 5-year contract by BT
  • 2004- Became largest FMS vendor globally
  • 2007- Listing on London stock Exchange; Market Ccapitalisation of $600 million
  • 2011
    Subex Completes successful implementation of its ROC TM Revenue Assurance Solution for leading South East Asian Operator"".
    Subex and Swisscom presented award winning fraud model at GSMA Fraud Forum 2011.
    Subex wins US$ 12 mln Revenue Operations Center (ROC) License Contract.
    Subex wins Multi-Million Dollar deal from Middle East operator for Revenue Operations Centre (ROCâ„¢) for complete Business Optimization.
    Subex introduces Prepaid Channel Assurance solution.
    Subex and Swisscom awarded the Global Telecoms Business Innovation Award 2011 for industry's first Risk Reward Sharing Model.
    2012
    Subex launches ROCware Product Performance Management solution.
    Subex launches Integrated Bypass Fraud solution.
    Subex Ranked Number One by Leading Industry Analyst Firm"".
    Subex awarded the Global Telecoms Business Innovations Awards 2012.
    Subex awarded 2012 Global Communications Service Provider Financial Assurance Market Share Leadership Award by Frost & Sullivan.
    Awards:
  • Subex wins 2007 Verizon Supplier Excellence Award
  • Subex finalist for Billing & OSS World 2008 Excellence Award
  • Chosen as one of NASSCOM's 100 IT Innovators - 2007
  • Subex Azure awarded for Successful Listing at LSE
  • Subex wins ‘ISV Partner of the Year’ award from Sun Microsystems
  • Subex honored by AT&T as Outstanding Supplier
  • Included in Deloitte & Touche's Tech Fast 50 APAC 2006 and 2007
  • Chosen as one of the 8 most innovative Indian companies by NASSCOM (India) 2005
  • Winner of Best Revenue Assurance Project for KPN at the World Billing Awards 2005
  • Winner of Most Promising Company award at Billing and OSS World Excellence Awards 2005
  • Best Customer Success Story, Billing and OSS World Excellence Awards 2004
  • Product of the Year, Communications Solutions Magazine 2003
  • Internet Telephony Product of the Year 2003
  • Best New Product, OSS Excellence Awards 2003
  • Operational Excellence, OSS World Excellence Awards 2003
  • SBC Supplier Recognition Award, Customer Service 2003
  • Tele Management Forum Operational Excellence Award 2003
  • Winner of Organization with Innovative HR Practices at India HRD Congress 2002
  • Best Provisioning Product, OSS World Excellence Awards 2002
  • Best Customer Service, OSS World 2001

Strategic Alliances:

Subex has partnered with various leading system integrators and technology vendors from around the globe to offer best-in-class solutions.

Its Global System Integration Partners include Accenture, Wipro, IBM, Infosys, Siemens, and Tech Mahindra.

The Regional System Integration Partners are AMT, Business edge, TCS, Gantech Technology and its technology partners include CISCO, NEC, SUN, GE Energy, IBM, Polystar, Broad Soft etc.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

Callback