Is Subex a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Subex Ltd is a below average quality company .

Is Subex undervalued or overvalued?

The key valuation ratios of Subex Ltd's currently when compared to its past seem to suggest it is in the Fair zone .

What is Subex share price return in the past 10 years?

Subex Ltd share price has appreciated 12.3% annually (CAGR) over the past ten years.

Is Subex a good buy now?

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

Subex Ltd - Stock Valuation and Financial Performance

Name: Subex
Brand: Subex

BSE: 532348 | NSE: SUBEXLTD | IT - Software | Small Cap

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Subex Share Price

₹35.86 2.08 6.16%
as on 26-Jul'24 16:01

10 Year X-Ray of Subex:

Analysis of Financial Track Record

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

Standalone Basis ^P Consolidated Basis ^P

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

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	2.3%	-19.6%	1.1%	0.8%	-1.8%	-36.4%	1.6%	-1.1%	-14.8%	-32.8%	-
Value Creation Index ⓘ	-0.8	-2.4	-0.9	-0.9	-1.1	-3.6	-0.9	-1.1	-2.1	-3.3	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	306	296	324	180	19.2	10.8	29.2	68.4	274	269	269
Sales YoY Gr.	-	-3.2%	9.7%	-44.5%	-89.4%	-43.7%	170.3%	134.4%	300.1%	-1.7%	-
Adj EPS ⓘ	-0.8	-4.1	-0	0	-0.2	-3.9	0.1	-0.1	-1.2	-1.9	-3.8
YoY Gr.	-	NA	NA	NA	-675%	NA	NA	-171.4%	NA	NA	-
BVPS (₹) ⓘ	15.8	12.7	12.6	13.2	12.7	8.9	8.9	8.7	7.5	3.7	3.7
Adj Net Profit ⓘ	-13.9	-205	-1.9	2.3	-13.1	-220	7.8	-5.5	-69.2	-106	-213
Cash Flow from Ops. ⓘ	49.3	35.4	58.9	62.5	-0.8	-12.6	1.5	-18.7	45.5	-4.1	-
Debt/CF from Ops. ⓘ	13.2	4.3	1.9	0	0	0	0	0	0	0	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	-1.4%	69.6%	109.7%	-1.7%
Adj EPS ⓘ	NA	NA	-338.1%	NA
BVPSⓘ	-14.8%	-21.6%	-25.1%	-49.9%
Share Price	12.3%	44.5%	-17%	7.8%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	-5	-44.3	-0.3	0.3	-1.8	-36.4	1.6	-1.1	-15.2	-33.3	-101.3
Op. Profit Mgn % ⓘ	15	17.8	16.7	6	-10.3	-59.3	15.8	-25.9	-23.8	-11.4	-13.5
Net Profit Mgn % ⓘ	-4.6	-69.3	-0.6	1.3	-68.2	-2042.9	26.7	-8	-25.3	-39.5	-79.2
Debt to Equity ⓘ	2.3	0.2	0.2	0	0	0	0	0	0	0	0
Working Cap Days ⓘ	914	796	463	321	1,002	2,104	1,070	563	189	210	94
Cash Conv. Cycle ⓘ	-168	-172	-120	18	148	242	144	164	48	27	-7

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 109.73%

Return on Equity is Poor

Sales growth is not so good in last 4 quarters at 1.47%

Latest Financials - Subex Ltd.

	Standalone	Consolidated
TTM EPS (₹)	-3.8	-3.4
TTM Sales (₹ Cr.)	269	310
BVPS (₹.) ⓘ	3.7	5.9
Reserves (₹ Cr.) ⓘ	-71	49
P/BV ⓘ	9.58	6.11
PE ⓘ	0.00	0.00

From the Market
52 Week Low / High (₹)	22.39 / 45.80
All Time Low / High (₹)	2.80 / 803.25
Market Cap (₹ Cr.)	2,015
Equity (₹ Cr.)	281
Face Value (₹)	5
Industry PE ⓘ	36.8

Management X-Ray of Subex:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

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

Valuation of Subex

Price Calculator

Price Chart

Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Subex

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	306	296	324	180	19	11	29	68	274	269
Operating Expenses ⓘ	280	250	278	178	39	37	45	86	339	305
Manufacturing Costs	7	6	7	5	1	0	0	1	28	30
Material Costs	15	1	0	0	0	0	0	0	0	0
Employee Cost	72	79	85	62	7	6	14	43	122	118
Other Costs ⓘ	186	163	186	111	31	30	31	42	188	157
Operating Profit ⓘ	25	46	47	2	-20	-26	-16	-18	-65	-36
Operating Profit Margin (%)	8.3%	15.5%	14.4%	0.9%	-104.0%	-243.0%	-54.3%	-25.9%	-23.9%	-13.3%
Other Income ⓘ	2	7	13	9	2	41	47	15	2	2
Interest ⓘ	52	51	15	5	0	0	0	0	2	2
Depreciation ⓘ	3	3	3	7	6	6	2	2	12	14
Exceptional Items ⓘ	0	-204	-46	4	0	-214	-2	0	0	-148
Profit Before Tax ⓘ	-27	-205	-4	2	-25	-205	27	-4	-77	-198
Tax ⓘ	2	5	3	2	0	1	0	0	-8	15
Profit After Tax	-28	-210	-7	0	-25	-206	26	-4	-69	-213
PAT Margin (%)	-9.3%	-71.0%	-2.1%	0.2%	-128.0%	-1,908.1%	89.9%	-6.5%	-25.1%	-79.3%
Adjusted EPS (₹)	-1.6	-4.2	-0.1	0.0	-0.4	-3.7	0.5	-0.1	-1.2	-3.8
Dividend Payout Ratio (%)	0%	0%	0%	0%	0%	0%	161%	0%	0%	0%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	288	637	637	742	711	499	499	487	419	210
Share Capital ⓘ	183	503	507	562	562	562	281	281	281	281
Reserves ⓘ	105	134	130	180	149	-63	218	206	138	-71
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	650	133	86	0	0	0	0	0	0	0
Long Term Debt	525	29	0	0	0	0	0	0	0	0
Short Term Debt	125	104	86	0	0	0	0	0	0	0
Trade Payables	457	452	144	4	3	3	4	12	82	69
Others Liabilities ⓘ	119	59	62	7	35	59	86	55	103	78
Total Liabilities ⓘ	1,513	1,280	929	753	749	561	589	554	605	357
Fixed Assets
Gross Block	75	7	10	63	63	66	63	63	108	112
Accumulated Depreciation	69	3	5	7	13	54	54	55	67	80
Net Fixed Assetsⓘ	6	4	5	56	50	12	9	7	41	32
CWIP ⓘ	0	0	0	0	0	0	0	0	0	0
Investmentsⓘ	772	718	657	644	644	476	476	428	346	176
Inventories	0	0	0	0	0	0	0	0	0	0
Trade Receivables	522	497	190	14	8	9	22	58	109	75
Cash Equivalents	1	2	2	2	1	4	4	9	46	12
Others Assetsⓘ	212	60	76	37	46	61	79	52	64	62
Total Assets ⓘ	1,513	1,280	929	753	749	561	589	554	605	357

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	49	35	59	62	-1	-13	1	-19	45	-4
PBT ⓘ	-27	-205	-4	2	-25	-205	27	-4	-77	-198
Adjustment ⓘ	93	270	69	5	23	192	-21	15	68	179
Changes in Working Capital ⓘ	-12	-25	-1	66	3	0	-4	-28	59	19
Tax Paid ⓘ	-5	-5	-5	-10	-2	0	0	-1	-4	-5
Cash Flow From Investing Activity ⓘ	-5	-2	-5	-75	0	16	25	33	-24	-2
Capex	-5	-1	-4	-63	0	0	-1	0	-3	-2
Net Investments	0	-1	-1	1	-11	-2	0	-1	-7	19
Others ⓘ	0	0	-1	-13	10	18	26	33	-14	-19
Cash Flow From Financing Activityⓘ	-44	-33	-54	13	0	-1	-27	-10	-5	-7
Net Proceeds from Shares ⓘ	0	0	0	77	0	0	1	4	1	2
Net Proceeds from Borrowing ⓘ	0	0	0	0	0	0	0	0	0	0
Interest Paid ⓘ	-19	-10	-12	-10	0	0	0	0	-2	-2
Dividend Paid ⓘ	0	0	0	0	0	0	-27	-14	0	0
Others ⓘ	-24	-23	-42	-54	0	-1	-1	0	-4	-7
Net Cash Flow ⓘ	1	1	0	1	-1	3	0	4	16	-14

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	-10.12	-45.39	-1.07	0.05	-3.38	-34.02	5.25	-0.91	-15.18	-67.71
ROCE (%)	2.61	-17.77	1.4	0.99	-3.37	-33.73	5.32	-0.87	-16.36	-61.35
Asset Turnover Ratio	0.2	0.21	0.29	0.21	0.03	0.02	0.05	0.12	0.47	0.56
PAT to CFO Conversion(x)	N/A	N/A	N/A	N/A	N/A	N/A	0.04	N/A	N/A	N/A
Working Capital Days
Receivable Days	652	629	386	206	210	297	194	214	111	125
Inventory Days	0	0	0	0	0	0	0	0	0	0
Payable Days	0	0	0	0	0	0	0	0	0	0

Subex Ltd Stock News

Subex Ltd FAQs

What is the share price of Subex?

Company share prices are keep on changing according to the market conditions. The closing price of Subex on 26-Jul-2024 16:01 is ₹35.86.

What is the market cap of Subex?

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 26-Jul-2024 16:01 the market cap of Subex stood at ₹2,015.3.

What is the P/E ratio of Subex?

The latest P/E ratio of Subex as of 26-Jul-2024 16:01 is 0.00.

What is the P/B ratio of Subex?

The latest P/B ratio of Subex as of 26-Jul-2024 16:01 is 9.58.

What is the 52-week high and low of Subex?

The 52-week high of Subex is ₹45.80 and the 52-week low is ₹22.39.

What is the TTM revenue of Subex?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Subex is ₹269.0 ( Cr.) .

About Subex Ltd

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 Â£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 â€˜ISV Partner of the Yearâ€™ 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.