About Subex Limited
Data last updated: 15 July 2026
Subex Limited is a public limited company based in Bengaluru, Karnataka, India. It specialises in IT consulting and support services, a part of the broader technology and IT services sector. Incorporated on 06 December 1994, the company has been in operation for over 32 years.
Registered with ROC Bangalore under CIN L85110KA1994PLC016663. Listed on BSE: 532348 and NSE: SUBEXLTD.
Capital: an authorised share capital of ₹590 Cr and a paid-up capital of ₹281 Cr. Formerly known as Subex Azure Limited and Subex Systems Private Limited. It is led by directors including Nisha Dutt and Murali Kalyanaraman.
Last AGM: 29 September 2025. Financial statements filed for year ended 31 March 2025. Office: Pritech Park, Bengaluru, Karnataka.
As per NSE-filed consolidated financials for FY 2026, the company reported a revenue of ₹279.06 Cr, a decline of 2.29% compared to the previous year. The net worth stands at ₹342.81 Cr (up 12.59% YoY). Total assets are valued at ₹551.9 Cr (up 13.34% YoY).
The company has a workforce of approximately 820 employees as per the latest available data. Its group structure includes 2 subsidiaries.
The company is associated with 3 brands - Hypersense, Sectrio, Subex. As per MCA filings, the company has open charges of ₹2 Cr and satisfied charges of ₹907.54 Cr on record.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website subex.com.
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EmailLocked
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TelephoneLocked
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Website
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Social Media
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Registered AddressPritech Park – Sez Block – 09 4Th Floor B Wing Sy No. 51 – 64/4 Orr Bellandur Vlg Vart, Hur Hobli, Bengaluru, Karnataka, India – 560103
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IndustryInformation Technology, IT Consulting & Support Services
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
- PDF report delivered after checkout
Name History of Subex Limited
Subex Limited has undergone 3 name changes throughout its history. The company was previously known as Subex Azure Limited, Subex Systems Private Limited, and Subex Systems Limited. The current legal name is Subex Limited, reflecting the company's evolution and rebranding over time.
| Company Name | Status |
|---|---|
| Subex Limited | Current |
| Subex Azure Limited | Previous |
| Subex Systems Private Limited | Previous |
| Subex Systems Limited | Previous |
CIN History of Subex Limited
Subex Limited has one previous CIN (Corporate Identification Number): U32201KA1994PTC016663. The current CIN is L85110KA1994PLC016663, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L85110KA1994PLC016663 | Current |
| U32201KA1994PTC016663 | Previous |
Associated Brands with Subex Limited
Subex Limited operates multiple associated brands including HyperSense, Sectrio, and Subex. These brands represent Subex Limited's diversified market presence and brand portfolio.
| Brand | Description | Website |
|---|---|---|
| Offers an AI-based platform for fraud detection and prevention in enterprises. | hypersenseai.com | |
| Offers cybersecurity services for operational technology and IoT systems. | sectrio.com | |
| Telecom business and operations support systems are provided. | subex.com |
Competitors & Alternatives of Subex Limited
Brands and companies operating in the same space as Subex Limited include Armis Security, Forescout, Upstream Security and 7 more.
| Competitor | Description | Location | Founded |
|---|---|---|---|
Armis Security
|
Wireless security platform for IoT applications is provided. | Palo Alto, United States, United States | 2015 |
Forescout
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Provider of cyber security solutions for asset visibility and threat management | San Jose, United States, United States | 2000 |
Upstream Security
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Connected vehicle fleets are secured via cloud-based cybersecurity platforms. | Herzliya, Israel, Israel | 2017 |
GBG
|
Fraud prevention solutions are provided by GBG platform to businesses. | Chester, United Kingdom, United Kingdom | 1989 |
Iconectiv
|
Interconnection technology and clearinghouse solutions for telecom carriers are provided. | Bridgewater, United States, United States | 1983 |
Xage Security
|
Blockchain-based security platform for IoT applications is provided. | Palo Alto, United States, United States | 2016 |
Neusoft
|
IT solutions and services are provided to multiple industries. | Shenyang, China, China | 1991 |
Ordr
|
Security solutions for IoT device vulnerabilities are developed. | Santa Clara, United States, United States | 2015 |
Amdocs
|
Cloud-based OSS and BSS solutions are provided to communications providers. | Chesterfield, United States, United States | 1982 |
Effectiv
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AI-based anti-fraud and risk management solutions are offered to businesses. | San Francisco, United States, United States | 2021 |
Business Activity of Subex Limited
Subex Limited is engaged in the principal business activity of information and communication, with detailed activities including computer programming, consultancy and related activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| J | Information and communication | J6 | Computer programming, consultancy and related activities | Locked |
Business activity turnover details for Subex Limited
Turnover contribution percentages and historical activity changes require an active report plan.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Auditor Details of Subex Limited
Subex Limited is audited by MSKC & ASSOCIATES LLP (ICAI peer reviewed, certificate valid till 2026-09-30) for the financial year 2026, as reported in its NSE exchange filings. The statutory auditor is responsible for expressing an independent opinion on whether the financial statements present a true and fair view in accordance with applicable accounting standards.
| Name | Financial year | Audit opinion |
|---|---|---|
| MSKC & ASSOCIATES LLP (ICAI peer reviewed, certificate valid till 2026-09-30) | FY 2026 | Declaration of unmodified opinion |
Board of Directors of Subex Limited
Subex Limited is currently managed by 6 directors, with 28 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Nisha Dutt | Managing Director | 10 May 2024 | 2 Years 3 Months | Current |
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Murali Kalyanaraman
Also directs:
Subex Limited, Oorjita Finai Services Llp
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Director | 10 May 2024 | 2 Years 3 Months | Current |
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Rupinder Goel
Also directs:
Subex Limited
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Director | 08 Aug 2023 | 3 Years 0 Months | Current |
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Venkata Erinti Narayana
Also directs:
Subex Limited, Lead Angels Association For Entrepreneurship Development, Svaas Management Services Private Limited and 1 more
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Director | 25 Dec 2025 | 0 Years 7 Months | Current |
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Alok Ohrie
Also directs:
Sutlej Textiles And Industries Limited, Subex Limited
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Director | 04 Jan 2026 | 0 Years 7 Months | Current |
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Stephane Raymond Marie Le Letty
Also directs:
Subex Limited
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Additional Director | 25 Mar 2026 | 0 Years 4 Months | Current |
Financials of Subex Limited FY 2026 filings available
Subex Limited reported revenue of ₹279.06 Cr (down 2.29% YoY) for FY 2026.
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹279.06 Cr | ₹285.61 Cr | ₹309.72 Cr | ₹278.69 Cr | ₹333.44 Cr | ₹372.03 Cr | ₹364.98 Cr |
| Other Income | ₹31.76 Cr | ₹6.95 Cr | ₹6.73 Cr | ₹8.16 Cr | ₹10.37 Cr | ₹4.74 Cr | ₹5.63 Cr |
| Total Income | ₹310.82 Cr | ₹292.56 Cr | ₹316.45 Cr | ₹286.85 Cr | ₹343.81 Cr | ₹376.77 Cr | ₹370.61 Cr |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Employee Benefit Expense | ₹164.56 Cr | ₹185.18 Cr | ₹209 Cr | ₹200.69 Cr | ₹214.49 Cr | ₹197.2 Cr | ₹174.54 Cr |
| Finance Costs | ₹3.27 Cr | ₹2.22 Cr | ₹2.63 Cr | ₹2.58 Cr | ₹1.94 Cr | ₹2.96 Cr | ₹5.64 Cr |
| Depreciation & Amortisation | ₹12.08 Cr | ₹14.12 Cr | ₹15.59 Cr | ₹13.99 Cr | ₹9.88 Cr | ₹13.78 Cr | ₹15.08 Cr |
| Other Expenses | ₹88.76 Cr | ₹115.08 Cr | ₹116.38 Cr | ₹108.65 Cr | ₹83.81 Cr | ₹76.33 Cr | ₹95.39 Cr |
| Total Expenses | ₹268.67 Cr | ₹316.6 Cr | ₹343.6 Cr | ₹325.91 Cr | ₹310.12 Cr | ₹290.27 Cr | ₹290.65 Cr |
| Profit Before Exceptional Items & Tax | ₹42.15 Cr | -₹24.04 Cr | -₹27.15 Cr | -₹39.06 Cr | ₹33.69 Cr | ₹86.5 Cr | ₹79.96 Cr |
| Exceptional Items | -₹4.66 Cr | ₹4.22 Cr | -₹147.95 Cr | ₹0 | ₹0 | ₹2.87 Cr | -₹317.66 Cr |
| Profit Before Tax | ₹37.49 Cr | -₹19.82 Cr | -₹175.1 Cr | -₹39.06 Cr | ₹33.69 Cr | ₹89.37 Cr | -₹237.7 Cr |
| Total Tax Expense | ₹8.96 Cr | ₹11.62 Cr | ₹16.63 Cr | ₹12.15 Cr | ₹12.7 Cr | ₹37.65 Cr | ₹31.45 Cr |
| Net Profit | ₹28.53 Cr | -₹31.44 Cr | -₹191.73 Cr | -₹51.21 Cr | ₹20.99 Cr | ₹51.72 Cr | -₹269.15 Cr |
| attributable to Owners | - | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | - |
| attributable to NCI | - | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | - |
| Other Comprehensive Income | ₹8.83 Cr | ₹1.52 Cr | ₹14 Lakh | ₹6.2 Cr | ₹2.03 Cr | ₹6.24 Cr | -₹29 Lakh |
| Total Comprehensive Income | ₹37.36 Cr | -₹29.92 Cr | -₹191.59 Cr | -₹45.01 Cr | ₹23.02 Cr | ₹57.96 Cr | -₹269.44 Cr |
| EBITDA (computed) | ₹57.5 Cr | -₹7.7 Cr | -₹8.93 Cr | -₹22.49 Cr | ₹45.51 Cr | ₹103.24 Cr | ₹100.68 Cr |
| Basic EPS | ₹0.51 | ₹-0.57 | ₹-3.47 | ₹-0.93 | ₹0.38 | ₹0.96 | ₹-4.94 |
| Diluted EPS | ₹0.51 | ₹-0.57 | ₹-3.47 | ₹-0.93 | ₹0.38 | ₹0.94 | ₹-4.94 |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Total Assets | ₹551.9 Cr | ₹486.96 Cr | ₹529.72 Cr | ₹703.62 Cr |
| Non-current Assets | ₹263.45 Cr | ₹272.53 Cr | ₹279.3 Cr | ₹442.13 Cr |
| Current Assets | ₹288.45 Cr | ₹214.43 Cr | ₹250.42 Cr | ₹261.49 Cr |
| Property, Plant & Equipment | ₹32.01 Cr | ₹20.84 Cr | ₹31.64 Cr | ₹9.67 Cr |
| Inventories | ₹0 | ₹0 | ₹0 | ₹0 |
| Trade Receivables | ₹93.51 Cr | ₹77.62 Cr | ₹101.55 Cr | ₹90.37 Cr |
| Cash & Equivalents | ₹82.18 Cr | ₹52.36 Cr | ₹67.76 Cr | ₹52.38 Cr |
| Equity (Net Worth) | ₹342.81 Cr | ₹304.48 Cr | ₹333.51 Cr | ₹521.84 Cr |
| Equity Share Capital | ₹281 Cr | ₹281 Cr | ₹281 Cr | ₹281 Cr |
| Borrowings (Non-current) | ₹0 | ₹0 | ₹0 | ₹0 |
| Borrowings (Current) | ₹0 | ₹0 | ₹0 | ₹8.64 Cr |
| Total Debt (computed) | ₹0 | ₹0 | ₹0 | ₹8.64 Cr |
| Current Liabilities | ₹109.25 Cr | ₹101.06 Cr | ₹104.85 Cr | ₹85.77 Cr |
| Total Liabilities | ₹209.09 Cr | ₹182.48 Cr | ₹196.21 Cr | ₹181.78 Cr |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Operating Cash Flow | ₹71.51 Cr | ₹9.75 Cr | -₹8.28 Cr | ₹9.25 Cr | -₹8.76 Cr |
| Investing Cash Flow | -₹32.78 Cr | -₹14.97 Cr | ₹33.15 Cr | -₹37.81 Cr | -₹35.34 Cr |
| Financing Cash Flow | -₹8.73 Cr | -₹12.05 Cr | -₹9.34 Cr | -₹6.51 Cr | -₹14.66 Cr |
| Capital Expenditure | ₹3.97 Cr | ₹2.41 Cr | ₹2.73 Cr | ₹4.93 Cr | ₹5.4 Cr |
| Free Cash Flow (computed) | ₹67.54 Cr | ₹7.34 Cr | -₹11.01 Cr | ₹4.32 Cr | -₹14.16 Cr |
| Dividends Paid | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Net Change in Cash | ₹31.54 Cr | -₹16.87 Cr | ₹15.38 Cr | -₹33.01 Cr | -₹57.55 Cr |
| Metrics | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q4 FY24 | Q3 FY24 | Q2 FY24 | Q1 FY24 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹72.96 Cr | ₹70.79 Cr | ₹68.91 Cr | ₹66.4 Cr | ₹70.6 Cr | ₹72.69 Cr | ₹74.16 Cr | ₹68.16 Cr | ₹83.8 Cr | ₹81.82 Cr | ₹76.81 Cr | ₹67.29 Cr |
| Other Income | ₹7.51 Cr | ₹4.25 Cr | ₹1.52 Cr | ₹15.81 Cr | ₹2.76 Cr | ₹1.07 Cr | ₹1.2 Cr | ₹1.92 Cr | ₹2.69 Cr | ₹1.41 Cr | ₹1.28 Cr | ₹1.35 Cr |
| Total Income | ₹80.47 Cr | ₹75.04 Cr | ₹70.43 Cr | ₹82.21 Cr | ₹73.36 Cr | ₹73.76 Cr | ₹75.36 Cr | ₹70.08 Cr | ₹86.49 Cr | ₹83.23 Cr | ₹78.09 Cr | ₹68.64 Cr |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Employee Benefit Expense | ₹40.61 Cr | ₹40.3 Cr | ₹42.48 Cr | ₹41.17 Cr | ₹40.62 Cr | ₹46.45 Cr | ₹50.35 Cr | ₹47.76 Cr | ₹48.32 Cr | ₹52.01 Cr | ₹54.37 Cr | ₹54.3 Cr |
| Finance Costs | ₹80 Lakh | ₹66 Lakh | ₹82 Lakh | ₹99 Lakh | ₹50 Lakh | ₹54 Lakh | ₹59 Lakh | ₹59 Lakh | ₹64 Lakh | ₹63 Lakh | ₹66 Lakh | ₹70 Lakh |
| Depreciation & Amortisation | ₹2.91 Cr | ₹2.37 Cr | ₹2.76 Cr | ₹4.04 Cr | ₹3.38 Cr | ₹3.35 Cr | ₹3.73 Cr | ₹3.66 Cr | ₹3.78 Cr | ₹3.74 Cr | ₹4.2 Cr | ₹3.87 Cr |
| Other Expenses | ₹23.19 Cr | ₹21.45 Cr | ₹20.15 Cr | ₹21.3 Cr | ₹42.98 Cr | ₹23.74 Cr | ₹21.92 Cr | ₹26.44 Cr | ₹32.4 Cr | ₹29.24 Cr | ₹27.01 Cr | ₹27.73 Cr |
| Total Expenses | ₹67.51 Cr | ₹64.78 Cr | ₹66.21 Cr | ₹67.5 Cr | ₹87.48 Cr | ₹74.08 Cr | ₹76.59 Cr | ₹78.45 Cr | ₹85.14 Cr | ₹85.62 Cr | ₹86.24 Cr | ₹86.6 Cr |
| Profit Before Exceptional Items & Tax | ₹12.96 Cr | ₹10.26 Cr | ₹4.22 Cr | ₹14.71 Cr | -₹14.12 Cr | -₹32 Lakh | -₹1.23 Cr | -₹8.37 Cr | ₹1.35 Cr | -₹2.39 Cr | -₹8.15 Cr | -₹17.96 Cr |
| Exceptional Items | -₹16 Lakh | -₹4.5 Cr | ₹0 | ₹0 | ₹0 | ₹0 | ₹4.22 Cr | ₹0 | -₹147.95 Cr | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹12.8 Cr | ₹5.76 Cr | ₹4.22 Cr | ₹14.71 Cr | -₹14.12 Cr | -₹32 Lakh | ₹2.99 Cr | -₹8.37 Cr | -₹146.6 Cr | -₹2.39 Cr | -₹8.15 Cr | -₹17.96 Cr |
| Total Tax Expense | ₹2.87 Cr | ₹2.83 Cr | ₹1.36 Cr | ₹1.9 Cr | ₹3.48 Cr | ₹2.93 Cr | ₹2.37 Cr | ₹2.84 Cr | ₹9.91 Cr | ₹2.5 Cr | ₹2.9 Cr | ₹1.32 Cr |
| Net Profit | ₹9.93 Cr | ₹2.93 Cr | ₹2.86 Cr | ₹12.81 Cr | -₹17.6 Cr | -₹3.25 Cr | ₹62 Lakh | -₹11.21 Cr | -₹156.51 Cr | -₹4.89 Cr | -₹11.05 Cr | -₹19.28 Cr |
| attributable to Owners | - | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹62 Lakh | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| attributable to NCI | - | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Other Comprehensive Income | ₹5.91 Cr | ₹1.2 Cr | ₹90 Lakh | ₹82 Lakh | ₹62 Lakh | ₹31 Lakh | ₹64 Lakh | -₹5 Lakh | -₹46 Lakh | ₹37 Lakh | ₹38 Lakh | -₹15 Lakh |
| Total Comprehensive Income | ₹15.84 Cr | ₹4.13 Cr | ₹3.76 Cr | ₹13.63 Cr | -₹16.98 Cr | -₹2.94 Cr | ₹1.26 Cr | -₹11.26 Cr | -₹156.97 Cr | -₹4.52 Cr | -₹10.67 Cr | -₹19.43 Cr |
| EBITDA (computed) | ₹16.67 Cr | ₹13.29 Cr | ₹7.8 Cr | ₹19.74 Cr | -₹10.24 Cr | ₹3.57 Cr | ₹3.09 Cr | -₹4.12 Cr | ₹5.77 Cr | ₹1.98 Cr | -₹3.29 Cr | -₹13.39 Cr |
| Basic EPS | ₹0.18 | ₹0.05 | ₹0.05 | ₹0.23 | ₹-0.32 | ₹-0.06 | ₹0.01 | ₹-0.20 | ₹-2.83 | ₹-0.09 | ₹-0.20 | ₹-0.35 |
| Diluted EPS | ₹0.18 | ₹0.05 | ₹0.05 | ₹0.23 | ₹-0.32 | ₹-0.06 | ₹0.01 | ₹-0.20 | ₹-2.83 | ₹-0.09 | ₹-0.20 | ₹-0.35 |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹256.07 Cr | ₹268.81 Cr | ₹269.01 Cr | ₹273.52 Cr | ₹68.36 Cr | ₹29.16 Cr | ₹10.79 Cr |
| Other Income | ₹31.42 Cr | ₹2.19 Cr | ₹1.51 Cr | ₹2.42 Cr | ₹6 Lakh | ₹25.94 Cr | ₹20.91 Cr |
| Total Income | ₹287.49 Cr | ₹271 Cr | ₹270.52 Cr | ₹275.94 Cr | ₹68.42 Cr | ₹55.1 Cr | ₹31.7 Cr |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Employee Benefit Expense | ₹109.75 Cr | ₹112.98 Cr | ₹117.84 Cr | ₹121.91 Cr | ₹42.93 Cr | ₹13.61 Cr | ₹6.16 Cr |
| Finance Costs | ₹2.96 Cr | ₹1.94 Cr | ₹2.37 Cr | ₹2.3 Cr | ₹12 Lakh | ₹14 Lakh | ₹32 Lakh |
| Depreciation & Amortisation | ₹11.58 Cr | ₹12.66 Cr | ₹13.5 Cr | ₹11.87 Cr | ₹1.63 Cr | ₹1.93 Cr | ₹5.62 Cr |
| Other Expenses | ₹121.09 Cr | ₹193.43 Cr | ₹186.85 Cr | ₹216.85 Cr | ₹28.21 Cr | ₹10.6 Cr | ₹10.69 Cr |
| Total Expenses | ₹245.38 Cr | ₹321.01 Cr | ₹320.56 Cr | ₹352.93 Cr | ₹72.89 Cr | ₹26.28 Cr | ₹22.79 Cr |
| Profit Before Exceptional Items & Tax | ₹42.11 Cr | -₹50.01 Cr | -₹50.04 Cr | -₹76.99 Cr | -₹4.47 Cr | ₹28.82 Cr | ₹8.91 Cr |
| Exceptional Items | -₹32.95 Cr | ₹4.22 Cr | -₹147.95 Cr | ₹0 | ₹0 | -₹2.31 Cr | -₹213.61 Cr |
| Profit Before Tax | ₹9.16 Cr | -₹45.79 Cr | -₹197.99 Cr | -₹76.99 Cr | -₹4.47 Cr | ₹26.51 Cr | -₹204.7 Cr |
| Total Tax Expense | ₹3.3 Cr | ₹3.99 Cr | ₹15.26 Cr | -₹8.23 Cr | ₹0 | ₹29 Lakh | ₹1.18 Cr |
| Net Profit | ₹5.86 Cr | -₹49.78 Cr | -₹213.25 Cr | -₹68.76 Cr | -₹4.47 Cr | ₹26.22 Cr | -₹205.88 Cr |
| Other Comprehensive Income | -₹11 Lakh | -₹12 Lakh | -₹1 Lakh | ₹19 Lakh | -₹3 Lakh | ₹0 | -₹21 Lakh |
| Total Comprehensive Income | ₹5.75 Cr | -₹49.9 Cr | -₹213.26 Cr | -₹68.57 Cr | -₹4.5 Cr | ₹26.22 Cr | -₹206.09 Cr |
| EBITDA (computed) | ₹56.65 Cr | -₹35.41 Cr | -₹34.17 Cr | -₹62.82 Cr | -₹2.72 Cr | ₹30.89 Cr | ₹14.85 Cr |
| Basic EPS | ₹0.11 | ₹-0.90 | ₹-3.86 | ₹-1.25 | ₹-0.08 | ₹0.49 | ₹-3.78 |
| Diluted EPS | ₹0.11 | ₹-0.90 | ₹-3.86 | ₹-1.25 | ₹-0.08 | ₹0.48 | ₹-3.78 |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Total Assets | ₹344.43 Cr | ₹299.77 Cr | ₹346.61 Cr | ₹605.68 Cr |
| Non-current Assets | ₹189.28 Cr | ₹200.07 Cr | ₹238.33 Cr | ₹429.26 Cr |
| Current Assets | ₹155.15 Cr | ₹99.7 Cr | ₹108.28 Cr | ₹176.42 Cr |
| Property, Plant & Equipment | ₹29.07 Cr | ₹18.86 Cr | ₹27.78 Cr | ₹7.15 Cr |
| Inventories | ₹0 | ₹0 | ₹0 | ₹0 |
| Trade Receivables | ₹42.31 Cr | ₹55.33 Cr | ₹75.01 Cr | ₹108.83 Cr |
| Cash & Equivalents | ₹17.85 Cr | ₹4.66 Cr | ₹10.72 Cr | ₹24.48 Cr |
| Equity (Net Worth) | ₹171.59 Cr | ₹164.87 Cr | ₹213.88 Cr | ₹423.87 Cr |
| Equity Share Capital | ₹281 Cr | ₹281 Cr | ₹281 Cr | ₹281 Cr |
| Borrowings (Non-current) | ₹0 | ₹0 | ₹0 | ₹0 |
| Borrowings (Current) | ₹0 | ₹0 | ₹0 | ₹0 |
| Total Debt (computed) | ₹0 | ₹0 | ₹0 | ₹0 |
| Current Liabilities | ₹148.2 Cr | ₹124.76 Cr | ₹115.26 Cr | ₹158.26 Cr |
| Total Liabilities | ₹172.84 Cr | ₹134.9 Cr | ₹132.73 Cr | ₹181.81 Cr |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Operating Cash Flow | ₹70.68 Cr | ₹7.72 Cr | -₹4.13 Cr | ₹45.45 Cr | -₹19.35 Cr |
| Investing Cash Flow | -₹49.88 Cr | -₹3.82 Cr | -₹2.34 Cr | -₹24.33 Cr | ₹32.51 Cr |
| Financing Cash Flow | -₹7.61 Cr | -₹10.29 Cr | -₹7.29 Cr | -₹4.66 Cr | -₹9.11 Cr |
| Capital Expenditure | ₹3.6 Cr | ₹1.3 Cr | ₹2.48 Cr | ₹3.33 Cr | ₹0 |
| Free Cash Flow (computed) | ₹67.08 Cr | ₹6.42 Cr | -₹6.61 Cr | ₹42.12 Cr | -₹19.35 Cr |
| Dividends Paid | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Net Change in Cash | ₹13.19 Cr | -₹6.39 Cr | -₹13.76 Cr | ₹16.46 Cr | ₹4.05 Cr |
| Metrics | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q4 FY24 | Q3 FY24 | Q2 FY24 | Q1 FY24 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹64.56 Cr | ₹65.44 Cr | ₹63.51 Cr | ₹62.56 Cr | ₹66.27 Cr | ₹69.08 Cr | ₹68.48 Cr | ₹64.98 Cr | ₹65.04 Cr | ₹72.2 Cr | ₹66.86 Cr | ₹64.91 Cr |
| Other Income | ₹11.53 Cr | ₹3.42 Cr | ₹1.06 Cr | ₹15.41 Cr | ₹58 Lakh | ₹37 Lakh | ₹34 Lakh | ₹90 Lakh | ₹26 Lakh | ₹29 Lakh | ₹39 Lakh | ₹57 Lakh |
| Total Income | ₹76.09 Cr | ₹68.86 Cr | ₹64.57 Cr | ₹77.97 Cr | ₹66.85 Cr | ₹69.45 Cr | ₹68.82 Cr | ₹65.88 Cr | ₹65.3 Cr | ₹72.49 Cr | ₹67.25 Cr | ₹65.48 Cr |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Employee Benefit Expense | ₹27.5 Cr | ₹26.7 Cr | ₹27.47 Cr | ₹28.07 Cr | ₹26.49 Cr | ₹28.9 Cr | ₹28.58 Cr | ₹29.01 Cr | ₹27.56 Cr | ₹29.77 Cr | ₹30.42 Cr | ₹30.09 Cr |
| Finance Costs | ₹74 Lakh | ₹63 Lakh | ₹67 Lakh | ₹92 Lakh | ₹43 Lakh | ₹47 Lakh | ₹50 Lakh | ₹54 Lakh | ₹56 Lakh | ₹57 Lakh | ₹59 Lakh | ₹65 Lakh |
| Depreciation & Amortisation | ₹2.78 Cr | ₹2.53 Cr | ₹2.58 Cr | ₹3.69 Cr | ₹3.14 Cr | ₹3.17 Cr | ₹3.2 Cr | ₹3.15 Cr | ₹3.22 Cr | ₹3.26 Cr | ₹3.68 Cr | ₹3.34 Cr |
| Other Expenses | ₹9.47 Cr | ₹37.43 Cr | ₹36.49 Cr | ₹37.71 Cr | ₹57 Cr | ₹43.81 Cr | ₹44.8 Cr | ₹47.82 Cr | ₹42.17 Cr | ₹47.32 Cr | ₹47.82 Cr | ₹49.54 Cr |
| Total Expenses | ₹40.49 Cr | ₹67.29 Cr | ₹67.21 Cr | ₹70.39 Cr | ₹87.06 Cr | ₹76.35 Cr | ₹77.08 Cr | ₹80.52 Cr | ₹73.51 Cr | ₹80.92 Cr | ₹82.51 Cr | ₹83.62 Cr |
| Profit Before Exceptional Items & Tax | ₹35.6 Cr | ₹1.57 Cr | -₹2.64 Cr | ₹7.58 Cr | -₹20.21 Cr | -₹6.9 Cr | -₹8.26 Cr | -₹14.64 Cr | -₹8.21 Cr | -₹8.43 Cr | -₹15.26 Cr | -₹18.14 Cr |
| Exceptional Items | -₹28.67 Cr | -₹4.28 Cr | ₹0 | ₹0 | ₹0 | ₹0 | ₹4.22 Cr | ₹0 | -₹147.95 Cr | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹6.93 Cr | -₹2.71 Cr | -₹2.64 Cr | ₹7.58 Cr | -₹20.21 Cr | -₹6.9 Cr | -₹4.04 Cr | -₹14.64 Cr | -₹156.16 Cr | -₹8.43 Cr | -₹15.26 Cr | -₹18.14 Cr |
| Total Tax Expense | ₹89 Lakh | ₹67 Lakh | ₹72 Lakh | ₹71 Lakh | ₹1.71 Cr | ₹44 Lakh | ₹54 Lakh | ₹1.3 Cr | ₹12.56 Cr | ₹1.37 Cr | ₹64 Lakh | ₹69 Lakh |
| Net Profit | ₹6.04 Cr | -₹3.38 Cr | -₹3.36 Cr | ₹6.87 Cr | -₹21.92 Cr | -₹7.34 Cr | -₹4.58 Cr | -₹15.94 Cr | -₹168.72 Cr | -₹9.8 Cr | -₹15.9 Cr | -₹18.83 Cr |
| Other Comprehensive Income | ₹18 Lakh | ₹0 | -₹29 Lakh | ₹0 | ₹29 Lakh | -₹13 Lakh | -₹28 Lakh | ₹0 | -₹8 Lakh | ₹2 Lakh | -₹2 Lakh | ₹7 Lakh |
| Total Comprehensive Income | ₹6.22 Cr | -₹3.38 Cr | -₹3.65 Cr | ₹6.87 Cr | -₹21.63 Cr | -₹7.47 Cr | -₹4.86 Cr | -₹15.94 Cr | -₹168.8 Cr | -₹9.78 Cr | -₹15.92 Cr | -₹18.76 Cr |
| EBITDA (computed) | ₹39.12 Cr | ₹4.73 Cr | ₹61 Lakh | ₹12.19 Cr | -₹16.64 Cr | -₹3.26 Cr | -₹4.56 Cr | -₹10.95 Cr | -₹4.43 Cr | -₹4.6 Cr | -₹10.99 Cr | -₹14.15 Cr |
| Basic EPS | ₹0.11 | ₹-0.06 | ₹-0.06 | ₹0.12 | ₹-0.40 | ₹-0.13 | ₹-0.08 | ₹-0.29 | ₹-3.05 | ₹-0.18 | ₹-0.29 | ₹-0.34 |
| Diluted EPS | ₹0.11 | ₹-0.06 | ₹-0.06 | ₹0.12 | ₹-0.40 | ₹-0.13 | ₹-0.08 | ₹-0.29 | ₹-3.05 | ₹-0.18 | ₹-0.29 | ₹-0.34 |
Shareholding Pattern of Subex Limited
As per the shareholding pattern filed with NSE for the quarter ended Mar 2026, promoters hold 0.00%, foreign institutional investors hold 1.10%, domestic institutional investors hold 0.02%, retail and other public shareholders hold 97.61% of Subex Limited. The company had 338,483 shareholders on record.
| Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|
| Promoters | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public | 98.73% | 98.73% | 98.73% | 98.73% | 98.62% | 98.62% |
| Employee Trusts | 1.27% | 1.27% | 1.27% | 1.27% | 1.38% | 1.38% |
| Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|---|
| Promoters | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public | 98.73% | 98.62% | 98.62% | 98.02% | 97.64% | 96.46% |
| Employee Trusts | 1.27% | 1.38% | 1.38% | 1.98% | 2.36% | 3.54% |
| Promoter change (YoY, %pts) | +0.00 | +0.00 | +0.00 | +0.00 | +0.00 | - |
Board & Governance of Subex Limited
As per the corporate governance filing with NSE for the quarter ended 31-MAR-2026, the board of Subex Limited has 6 directors - 4 independent and 1 executive.
| Director | Position | On board since | Listed boards |
|---|---|---|---|
| NISHA DUTT | Executive Director · CEO-MD | 2024-05-10 | 1 |
| RUPINDER GOEL | Non-Executive - Independent Director | 2023-08-08 | 1 |
| MURALI KALYANARAMAN | Non-Executive - Independent Director | 2024-05-10 | 1 |
| VENKATA ERINTI NARAYANA | Non-Executive - Independent Director | 2025-12-25 | 1 |
| ALOK OHRIE | Non-Executive - Independent Director | 2026-01-04 | 1 |
| STEPHANE RAYMOND MARIE LE LETTY | Non-Executive - Non Independent Director | 2026-03-25 | 1 |
| Committee | Members |
|---|---|
| Audit Committee | MURALI KALYANARAMAN (Chairperson), RUPINDER GOEL, NISHA DUTT, VENKATA ERINTI NARAYANA, ALOK OHRIE |
| Nomination and remuneration committee | MURALI KALYANARAMAN (Chairperson), RUPINDER GOEL, VENKATA ERINTI NARAYANA |
| Stakeholders Relationship Committee | MURALI KALYANARAMAN (Chairperson), RUPINDER GOEL, NISHA DUTT |
| Risk Management Committee | MURALI KALYANARAMAN (Chairperson), RUPINDER GOEL, NISHA DUTT |
| Corporate Social Responsibility Committee | MURALI KALYANARAMAN (Chairperson), RUPINDER GOEL, NISHA DUTT |
Group Structure of Subex Limited
Subex Limited has 2 subsidiary companies. This group structure data is as of FY 2023. The corporate group structure reflects Subex Limited's business expansion strategy and organizational complexity.
| Company Name | CIN | Shares Held |
|---|---|---|
| Subex Account Aggregator Services Private Limited | U67110KA2022PTC161029 | - |
| Subex Technologies Limited | U74140KA2005PLC035905 | - |
Showing major subsidiaries. Total: 2.
Charges & Borrowings of Subex Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 18 Aug 2022 | The Hongkong and Shanghai Banking Corporation Limited | ₹2 Cr | Open |
| 01 Jul 2015 | Sbicap Trustee Company Limited | ₹64.95 Cr | Satisfied |
| 06 Jul 2012 | Axis Trustee Services Limited | ₹707.77 Cr | Satisfied |
| 28 Mar 2011 | Axis Bank Limited | ₹20 Cr | Satisfied |
| 14 Apr 2010 | The Royal Bank of Scotland N.V. | ₹15.65 Cr | Satisfied |
Total charge records: 7 View all charges
Employees and EPFO Compliance at Subex Limited
Subex Limited has a workforce of 820 employees as of Apr 03, 2024.
Employee and EPFO history for Subex Limited
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GST Compliance of Subex Limited
GST registrations and filing compliance for Subex Limited
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Credit Ratings, Litigation & Regulatory Alerts for Subex Limited
Credit ratings, litigation, and regulatory alerts for Subex Limited
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MSME Payment Delays by Subex Limited
MSME payment history for Subex Limited
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Subsidiaries & Group Companies of Subex Limited
Corporate group structure for Subex Limited
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MCA Filings & Documents of Subex Limited
MCA filings and documents for Subex Limited
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Recent Activity on Subex Limited
Recent News on Subex Limited
Frequently Asked Questions about Subex Limited
Subex Limited is an active public limited company in the information technology sector based in Bengaluru, Karnataka, India. It was incorporated on 06 December 1994 (32+ years old) and is registered under CIN L85110KA1994PLC016663. Listed on BSE: 532348 and NSE: SUBEXLTD. The company has 820 employees.
Subex Limited reported revenue of ₹279.06 Cr for FY 2026 (down 2.29% YoY) based on consolidated NSE filings.
The current directors of Subex Limited are:
- Nisha Dutt - Managing Director
- Murali Kalyanaraman - Director
- Rupinder Goel - Director
- Venkata Erinti Narayana - Director
- Alok Ohrie - Director
- Stephane Raymond Marie Le Letty - Additional Director
The primary industry of Subex Limited is information technology. The company specifically operates in IT consulting and support services. The company is currently active in this sector.
Yes. Subex Limited is listed on both BSE (code: 532348) and NSE (symbol: SUBEXLTD).
Subex Limited can be reached at the registered office: Pritech Park – Sez Block – 09 4Th Floor B Wing Sy No. 51 – 644 Orr Bellandur Vlg Vart, Hur Hobli, Bengaluru, Karnataka, India – 560103, or through the website subex.com.