Subex Limited

BSE: 532348 NSE: SUBEXLTD
Subex Limited - information technology in Bengaluru, Karnataka, India. FY 2026 financials & compliance.
CIN L85110KA1994PLC016663 Incorporated 06 December 1994 ROC Bangalore HQ Bengaluru, Karnataka, India
Active Listed - NSE: SUBEXLTD · BSE: 532348 Public Limited Company information technology
Data last updated
Market Cap
₹973 Cr
SUBEXLTD · NSE
Share Price
₹16.75
-3.01% today
Revenue
₹279 Cr
FY 2025-26 · -2.3% YoY
EBITDA
₹21.08 Cr
Margin 7.5%
Net Profit
₹32.03 Cr
FY 2025-26 · +187.5% YoY
P/E (TTM)
22.2x
P/B 2.5x
ROE
8.4%
ROCE 9.3%
Debt / Equity
0.07
Interest cover 36.3x

About Subex Limited

Data last updated:

Subex Limited is a public limited company based in Bengaluru, Karnataka, India. It operates in the IT consulting and support services segment of the technology and IT services sector. It was incorporated on 06 December 1994 and has been in existence for over 32 years.

The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN L85110KA1994PLC016663. Its GSTIN is 29AABCS9255R1ZD (Karnataka). It is a listed company as per MCA records. Its shares are listed on BSE: 532348 and NSE: SUBEXLTD.

The company has an authorised share capital of ₹590 Cr and a paid-up capital of ₹281 Cr. It was formerly known as Subex Azure Limited and Subex Systems Private Limited. It is led by directors including Nisha Dutt (Managing Director) and Murali Kalyanaraman.

Its last annual general meeting (AGM) was held on 29 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Pritech Park, Bengaluru, Karnataka.

As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹279.06 Cr, a decline of 2.3% compared to the previous year. For the same year it recorded a net profit of ₹32.03 Cr (net margin 11.5%) and EBITDA of ₹21.08 Cr (EBITDA margin 7.6%). The net worth stands at ₹342.81 Cr (up 12.6% YoY). Total assets are valued at ₹449.28 Cr (up 12.6% YoY).

The company has about 820 employees on its provident fund (EPFO) records. Its group structure includes 2 subsidiaries.

The company is associated with 3 brands: HyperSense, Sectrio and Subex. As per MCA filings, the company has open charges of ₹2 Cr and satisfied charges of ₹907.54 Cr on record. Court records list 71 cases involving the company, including 33 filed by the company and 38 filed against it; 7 cases are pending. The company has 222 deals on record (213 market trades, 5 funding rounds, 2 secondary share transfers), with disclosed funding of ₹170.32 Cr; the latest was in May 2026. Its 4 peer companies in the Information Technology industry (IT Consulting and Services), with the same principal business activity (computer programming, consultancy and related activities) are compared by revenue, 1 larger and 3 smaller; the largest is Acpl Systems Private Limited with revenue of ₹292.82 Cr.

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.

Company details

CIN L85110KA1994PLC016663
Registration Number 016663
Incorporation Date 06 December 1994
ROC Bangalore
Listing Status Listed - Listed on NSE (SUBEXLTD); Listed on BSE (532348)
Company Status Active
Date of Last AGM 29 September 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant

Name history

Subex 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.

Company NameStatus
Subex LimitedCurrent
Subex Azure LimitedPrevious
Subex Systems Private LimitedPrevious
Subex Systems LimitedPrevious

CIN history

Subex has one previous CIN (Corporate Identification Number): U32201KA1994PTC016663. The current CIN is L85110KA1994PLC016663, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
L85110KA1994PLC016663Current
U32201KA1994PTC016663Previous
Key People
Nisha Dutt Managing Director Murali Kalyanaraman Director Rupinder Goel Director

Contact details

Subex Limited's registered office is in Bengaluru, Karnataka. Its website is subex.com. Its e-mail address and telephone number are in the company report.

  • Email
  • Telephone
  • Website
    subex.com
  • Social Media
  • Registered Address
    Pritech Park – SEZ Block – 09 4th Floor B Wing Sy No. 51 – 64/4 Orr Bellandur Vlg Vart, Hur Hobli, Bengaluru, Karnataka, India – 560103
  • Industry
    Information Technology, IT Consulting & Support Services

To see the full contact details of Subex Limited, buy the company report.

Comprehensive company report
Subex Limited - one report that includes everything
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  • Historical financials and ratios
  • Shareholding pattern and group structure
  • Charges with holder and property details
  • Legal cases, compliance and MCA filings
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Brands

Subex operates multiple associated brands including HyperSense, Sectrio, and Subex. Each brand links to its own profile.

BrandDescriptionWebsite
HyperSense
Offers an AI-based platform for fraud detection and prevention in enterprises.hypersenseai.com
Sectrio
Offers cybersecurity services for operational technology and IoT systems.sectrio.com
Subex
Telecom business and operations support systems are provided.subex.com

Business activity

The main business activity of Subex is information and communication. In detail, this covers computer programming, consultancy and related activities.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
JInformation and communicationJ6Computer programming, consultancy and related activities

To see the full business activity and turnover split of Subex Limited, buy the company report.

Financials of Subex Limited

FY 2025-26 filings available

Subex Limited reported revenue of ₹279.06 Cr (down 2.3% YoY) for FY 2025-26.

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹279 Cr
-2.3% YoY
EBITDA
₹21.08 Cr
+243.9% YoY
Profit After Tax
₹32.03 Cr
+187.5% YoY
Net Worth
₹343 Cr
+12.6% YoY
Total Assets
₹449 Cr
+12.6% YoY
Total Debt
₹28.27 Cr
+45.9% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue279286310279333372365
Revenue growth-2.3%-7.8%+11.1%-16.4%-10.4%+1.9%-
EBITDA21.08(14.65)(164)(29.88)35.9196.41(231)
EBITDA margin+7.6%-5.1%-52.8%-10.7%+10.8%+25.9%-63.4%
Profit before tax37.49(19.82)(175)(39.06)33.6989.37(238)
Net profit32.03(36.61)(52.04)(51.87)20.8249.9168.17
Net profit margin+11.5%-12.8%-16.8%-18.6%+6.2%+13.4%+18.7%
EPS (₹)0.51(0.56)(3.41)(0.91)0.370.92(4.79)
Balance sheet
Total assets449399364557581577568
Net worth343304334522564549515
Total debt28.2719.3828.1633.3914.6825.7948.67
Cash & bank10161.3710110910914591.10
Net working capital161111148172214225167
Cash flow
Cash from operations71.519.50(8.28)9.25(8.10)90.9566.24
Cash from investing(31.24)(16.04)34.47(35.75)(34.13)(6.37)(1.94)
Cash from financing(8.73)(12.05)(9.34)(6.51)(15.32)(32.07)(13.34)
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue85.5979.4572.9670.7968.9166.4070.6072.69
Revenue growth (YoY)+24.2%+19.7%+3.3%-2.6%-7.1%-2.6%--
Other income2.584.697.514.251.5215.812.761.07
EBITDA17.7615.009.004.546.283.93(13.00)2.50
EBITDA margin+20.8%+18.9%+12.3%+6.4%+9.1%+5.9%-18.4%+3.4%
Depreciation2.732.602.912.372.764.043.383.35
Interest0.590.630.800.660.820.990.500.54
Profit before tax17.0216.4612.805.764.2214.71(14.12)(0.32)
Tax2.732.242.872.831.361.903.482.93
Net profit14.2914.229.932.932.8612.81(17.60)(3.25)
EPS (₹)0.260.260.180.050.050.23(0.32)(0.06)
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue25626926927468.3655.0110.79
Revenue growth-4.7%-0.1%-1.7%+300.1%+24.3%+409.8%-
EBITDA(7.72)(37.60)(184)(65.09)(2.74)28.50(221)
EBITDA margin-3.0%-14.0%-68.3%-23.8%-4.0%+51.8%-2048.3%
Profit before tax9.16(45.79)(198)(76.99)(4.47)26.51(205)
Net profit38.79(54.21)(73.87)(68.78)(4.48)28.507.73
Net profit margin+15.2%-20.2%-27.5%-25.2%-6.6%+51.8%+71.6%
EPS (₹)0.10(0.89)(3.79)(1.22)(0.08)0.47(3.66)
Balance sheet
Total assets202183240454491503503
Net worth172165214424489502500
Total debt26.2518.5125.3529.660.380.462.72
Cash & bank29.758.0212.1645.608.773.973.92
Net working capital(8.30)(30.11)(6.10)18.9725.06(10.21)(16.24)
Cash flow
Cash from operations70.688.12(4.13)45.45(18.69)1.45(12.56)
Cash from investing(49.88)(4.22)(2.01)(24.33)32.5125.3016.08
Cash from financing(7.61)(10.29)(7.29)(4.66)(9.77)(26.70)(0.57)
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue79.0972.7864.5665.4463.5162.5666.2769.08
Revenue growth (YoY)+24.5%+16.3%-2.6%-5.3%-7.3%-3.7%--
Other income1.903.0111.533.421.0615.410.580.37
Total expenses67.9963.3665.6468.4163.9665.7883.4972.71
EBITDA11.109.42(1.08)(2.97)(0.45)(3.22)(17.22)(3.63)
EBITDA margin+14.0%+12.9%-1.7%-4.5%-0.7%-5.1%-26.0%-5.3%
Depreciation2.322.392.782.532.583.693.143.17
Interest0.560.590.740.630.670.920.430.47
Profit before tax10.129.456.93(2.71)(2.64)7.58(20.21)(6.90)
Tax0.110.900.890.670.720.711.710.44

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 06 Nov 2026
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue85.5979.4572.9670.7968.9166.4070.6072.69
Revenue growth (YoY)+24.2%+19.7%+3.3%-2.6%-7.1%-2.6%--
Other income2.584.697.514.251.5215.812.761.07
EBITDA17.7615.009.004.546.283.93(13.00)2.50
EBITDA margin+20.8%+18.9%+12.3%+6.4%+9.1%+5.9%-18.4%+3.4%
Depreciation2.732.602.912.372.764.043.383.35
Interest0.590.630.800.660.820.990.500.54
Profit before tax17.0216.4612.805.764.2214.71(14.12)(0.32)
Tax2.732.242.872.831.361.903.482.93
Net profit14.2914.229.932.932.8612.81(17.60)(3.25)
EPS (₹)0.260.260.180.050.050.23(0.32)(0.06)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue279286310279333372365
Revenue growth-2.3%-7.8%+11.1%-16.4%-10.4%+1.9%-
Other income31.7611.176.738.1610.3710.2814.50
Total expenses258300473309298276596
Employee cost165185209201214197175
EBITDA21.08(14.65)(164)(29.88)35.9196.41(231)
EBITDA margin+7.6%-5.1%-52.8%-10.7%+10.8%+25.9%-63.4%
Depreciation12.0814.1215.5913.999.8813.7815.08
Interest3.272.222.633.352.713.545.64
Profit before tax37.49(19.82)(175)(39.06)33.6989.37(238)
Tax8.9611.6216.6312.1512.7037.6531.45
Net profit32.03(36.61)(52.04)(51.87)20.8249.9168.17
Net profit margin+11.5%-12.8%-16.8%-18.6%+6.2%+13.4%+18.7%
EPS (₹)0.51(0.56)(3.41)(0.91)0.370.92(4.79)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital281281281281281281562
Reserves & surplus65.7927.8056.83247290279(34.28)
Shareholders' funds (net worth)343304334522564549515
Minority interest0.000.000.000.000.000.000.00
Secured loans0.000.000.000.000.000.000.00
Unsecured loans28.2719.3828.1633.3914.6825.7948.67
Total debt28.2719.3828.1633.3914.6825.7948.67
Total liabilities449399364557581577568
Assets
Gross block262264434429401402741
Net block228217228385368375393
Capital work in progress0.000.000.000.000.000.000.00
Investments31.9222.378.9613.8711.650.000.00
Inventories0.000.000.000.000.000.000.00
Sundry debtors93.5177.6210290.3796.8199.5692.06
Cash & bank balances10161.3710110910914591.10
Loans & advances69.2960.3840.9449.7579.4367.5559.56
Total current assets263199243249285312243
Total current liabilities10387.9595.0477.1371.2786.6875.63
Net working capital161111148172214225167
Total assets449399364557581577568
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash50.6469.2352.3885.3914390.4339.47
Net cash from operating activities71.519.50(8.28)9.25(8.10)90.9566.24
Net cash from investing activities(31.24)(16.04)34.47(35.75)(34.13)(6.37)(1.94)
Net cash from financing activities(8.73)(12.05)(9.34)(6.51)(15.32)(32.07)(13.34)
Net change in cash31.54(18.59)16.85(33.01)(57.55)52.5150.96
Closing cash10161.3710110910914591.10
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-2.3%-7.8%+11.1%-16.4%-10.4%+1.9%-
EBITDA growth+243.9%+91.1%-447.6%-183.2%-62.8%+141.7%-
PBT growth+9998.0%+88.7%-348.3%--62.3%+9998.0%-
Net income growth+187.5%+29.7%-0.3%-349.1%-58.3%-26.8%-
Revenue CAGR (3Y)+0.0%-5.0%-5.9%-8.6%-1.4%+4.7%+0.7%
EBITDA CAGR (3Y)----49.5%-11.2%+41.2%+126.9%
Profitability & leverage
Net income margin+10.2%-11.0%-61.9%-18.4%+6.3%+13.9%-73.7%
Return on capital employed+9.3%0.0%0.0%-6.3%+6.3%+16.2%0.0%
Return on net worth+8.4%0.0%0.0%-9.4%+3.8%+9.7%0.0%
Debt / equity0.070.070.070.040.040.070.04
Long-term debt / equity0.050.050.050.030.020.050.03
Interest cover36.33-7.72-1.47-7.6410.414.28-2.29
Efficiency & per share
Fixed asset turnover1.060.820.720.670.830.650.51
Inventory turnover0.000.000.000.000.000.000.00
Debtors turnover3.263.193.232.983.403.884.11
EPS (₹)0.51(0.56)(3.41)(0.91)0.370.92(4.79)
Dividend per share (₹)0.000.000.000.000.000.750.00
Book value per share (₹)6.175.496.019.3910.159.969.39
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue79.0972.7864.5665.4463.5162.5666.2769.08
Revenue growth (YoY)+24.5%+16.3%-2.6%-5.3%-7.3%-3.7%--
Other income1.903.0111.533.421.0615.410.580.37
Total expenses67.9963.3665.6468.4163.9665.7883.4972.71
EBITDA11.109.42(1.08)(2.97)(0.45)(3.22)(17.22)(3.63)
EBITDA margin+14.0%+12.9%-1.7%-4.5%-0.7%-5.1%-26.0%-5.3%
Depreciation2.322.392.782.532.583.693.143.17
Interest0.560.590.740.630.670.920.430.47
Profit before tax10.129.456.93(2.71)(2.64)7.58(20.21)(6.90)
Tax0.110.900.890.670.720.711.710.44
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue25626926927468.3655.0110.79
Revenue growth-4.7%-0.1%-1.7%+300.1%+24.3%+409.8%-
Other income31.426.411.512.420.060.0922.25
Total expenses26430645333971.1026.51232
Employee cost11011311812242.9313.616.16
EBITDA(7.72)(37.60)(184)(65.09)(2.74)28.50(221)
EBITDA margin-3.0%-14.0%-68.3%-23.8%-4.0%+51.8%-2048.3%
Depreciation11.5812.6613.5011.871.631.935.62
Interest2.961.942.372.450.160.150.32
Profit before tax9.16(45.79)(198)(76.99)(4.47)26.51(205)
Tax3.303.9915.26(8.23)0.000.291.18
Net profit38.79(54.21)(73.87)(68.78)(4.48)28.507.73
Net profit margin+15.2%-20.2%-27.5%-25.2%-6.6%+51.8%+71.6%
EPS (₹)0.10(0.89)(3.79)(1.22)(0.08)0.47(3.66)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital281281281281281281562
Reserves & surplus(105)(112)(62.80)149215232(49.43)
Shareholders' funds (net worth)172165214424489502500
Secured loans0.000.000.000.000.000.000.00
Unsecured loans26.2518.5125.3529.660.380.462.72
Total debt26.2518.5125.3529.660.380.462.72
Total liabilities202183240454491503503
Assets
Gross block11011411210862.6362.5965.99
Net block30.4221.4131.4940.577.158.7411.57
Capital work in progress0.000.000.000.000.000.000.00
Investments160155176346428476476
Inventories0.000.000.000.000.000.000.00
Sundry debtors42.3155.3375.0110958.2421.849.15
Cash & bank balances29.758.0212.1645.608.773.973.92
Loans & advances62.2122.9313.8015.9511.0539.8918.98
Total current assets13486.2810117078.0665.7032.05
Total current liabilities14311610715153.0075.9148.29
Net working capital(8.30)(30.11)(6.10)18.9725.06(10.21)(16.24)
Total assets202183240454491503503
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash4.6611.0524.488.023.973.920.97
Net cash from operating activities70.688.12(4.13)45.45(18.69)1.45(12.56)
Net cash from investing activities(49.88)(4.22)(2.01)(24.33)32.5125.3016.08
Net cash from financing activities(7.61)(10.29)(7.29)(4.66)(9.77)(26.70)(0.57)
Net change in cash13.19(6.39)(13.43)16.464.050.052.95
Closing cash29.758.0212.1645.608.773.973.92
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-4.7%-0.1%-1.7%+300.1%+24.3%+409.8%-
EBITDA growth+79.5%+79.5%-182.1%-2275.6%-109.6%+112.9%-
PBT growth+9998.0%+76.9%-157.2%-1622.4%-+9998.0%-733.8%
Net income growth+171.6%+26.6%-7.4%-1435.3%-115.7%+268.7%-
Revenue CAGR (3Y)-2.2%+57.8%+69.7%+193.8%+52.8%-32.6%-67.8%
EBITDA CAGR (3Y)-50.9%+139.4%--33.5%-47.0%+44.4%+146.1%
Profitability & leverage
Net income margin+2.3%-18.5%-79.3%-25.1%-6.5%+47.7%-1908.1%
Return on capital employed+12.8%0.0%0.0%0.0%-0.9%+5.3%0.0%
Return on net worth+11.7%0.0%0.0%0.0%-0.9%+5.2%0.0%
Debt / equity0.130.120.090.030.000.000.00
Long-term debt / equity0.090.070.060.030.000.000.00
Interest cover-15.34-3.86-1.20-3.18-3.660.56-0.14
Efficiency & per share
Fixed asset turnover2.282.382.453.211.090.860.17
Inventory turnover0.000.000.000.000.000.000.00
Debtors turnover5.254.122.933.271.713.551.23
EPS (₹)0.10(0.89)(3.79)(1.22)(0.08)0.47(3.66)
Dividend per share (₹)0.000.000.000.000.000.750.00
Book value per share (₹)3.123.013.887.658.839.139.12

To see the full year-wise statements and ratios of Subex Limited, buy the company report.

Board of directors of Subex Limited

Subex has 6 current directors and 28 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Nisha Dutt
Also directs: Subex Digital LLP, Subex Assurance LLP, Subex Technologies Limited
Managing Director10 May 20242 Years 5 MonthsCurrent
Murali Kalyanaraman
Also directs: Oorjita Finai Services LLP
Director10 May 20242 Years 5 MonthsCurrent
Rupinder GoelDirector08 Aug 20233 Years 2 MonthsCurrent
Venkata Erinti Narayana
Also directs: Lead Angels Association for Entrepreneurship Development, Svaas Management Services Private Limited, SMS Vans Skilling and Advisory Private Limited
Director25 Dec 20250 Years 10 MonthsCurrent
Alok Ohrie
Also directs: Sutlej Textiles and Industries Limited
Director04 Jan 20260 Years 10 MonthsCurrent
Stephane Raymond Marie Le LettyAdditional Director25 Mar 20260 Years 7 MonthsCurrent
View all directors

Peer comparison

Subex Limited is compared with the 4 companies closest to it by revenue in the Information Technology industry (IT Consulting and Services), with the same principal business activity (computer programming, consultancy and related activities), from the latest filed financials of each company.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Acpl Systems Private Limited₹292.82 Cr (FY 2025)26.0%Gurgaon, Haryana, India
Valtech India Systems Private Limited₹288.3 Cr (FY 2025)2.0%Bangalore, Karnataka, India
Precision Infomatic (Madras ) Private Limited₹286.63 Cr (FY 2024)-18.0%Tamil Nadu, India
Virtusa Systems (India) Private Limited₹282.97 Cr (FY 2024)3.0%Chennai, Tamil Nadu, India
Subex Limitedthis company₹279.06 Cr (FY 2026)₹32.03 Cr11.5%-2.3%820Bengaluru, Karnataka, India

To see the full peer comparison of Subex Limited, buy the company report.

Auditor

Subex Limited is audited by S.R. Batliboi & Associates LLP for the financial year 2022.

Auditor firmFinancial yearFirm registration number
S.R. Batliboi & Associates LLPFY 2022101049W/E300004

Shareholding

Shareholding for the quarter ended Sep 2026: promoters hold 0.00%, foreign institutional investors hold 0.60%, domestic institutional investors hold 0.00% and retail and other public shareholders hold 99.40%.

FII (Foreign Institutional): 0.60%Retail & Others: 99.40%
Sep 2026
QUARTER
0.60% FII (Foreign Institutional)
99.40% Retail & Others
Public holding - history
Now 100.00% · Sep 2026High 100.00% · Dec 2025Low 100.00% · Dec 2025
99%99.3%99.5%99.8%100%Dec 2025Mar 2026Jun 2026Sep 2026Dec 2025: 100.00%Mar 2026: 100.00%Jun 2026: 100.00%Sep 2026: 100.00%100.00%100.00%
Shareholding trend - last 6 quarters
Sep 2026Jun 2026Mar 2026Dec 2025
Promoters0.00%0.00%0.00%0.00%
Public100.00%100.00%100.00%100.00%

Charges & borrowings

Open charges
₹2 Cr
Satisfied charges
₹907.54 Cr
Breakdown by lending institutions
The Hongkong and Shanghai Banking Corporation Limited₹2.00 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
18 Aug 2022100611559The Hongkong and Shanghai Banking Corporation Limited₹2 CrOpen
01 Jul 201510617109Sbicap Trustee Company Limited₹64.95 CrSatisfied
06 Jul 201210367788Axis Trustee Services Limited₹707.77 CrSatisfied
28 Mar 201110279655Axis Bank Limited₹20 CrSatisfied
14 Apr 201010222577The Royal Bank of Scotland N.V.₹15.65 CrSatisfied

To see the full charge records of Subex Limited, buy the company report.

Total charge records: 7 View all charges

Deals & funding

Subex Limited has 222 deals on record (213 market trades, 5 funding rounds, 2 secondary share transfers), with disclosed funding of ₹170.32 Cr; the latest was in May 2026.

Total deals
222
Market trades
213
Funding rounds
5
Secondary share transfers
2
Acquisitions
2
Disclosed funding
₹170.32 Cr

Deals on record (5 of 222)

WhenDealAmountParties
May 2026Market trade₹4.47 CrBuyer: Yuga Stocks & Commodities Private Limited
Seller: Yuga Stocks & Commodities Private Limited
Jul 2024Market trade₹21.95 CrBuyer: Graviton Research Capital LLP , Hrti Private Limited
Seller: Graviton Research Capital LLP , Hrti Private Limited
Jul 2024Market trade₹29.73 CrBuyer: Graviton Research Capital LLP , Hrti Private Limited
Seller: Graviton Research Capital LLP , Hrti Private Limited
Jul 2024Market trade₹25.79 CrBuyer: Graviton Research Capital LLP , Hrti Private Limited
Seller: Graviton Research Capital LLP , Hrti Private Limited
Jul 2024Market trade₹43.25 CrBuyer: Graviton Research Capital LLP , Hrti Private Limited , Share India Securities Limited
Seller: Graviton Research Capital LLP , Hrti Private Limited , Share India Securities Limited

To see the full deal history of Subex Limited, buy the company report.

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

Credit ratings & regulatory alerts

Subex Limited was last rated by Crisil on 18 Oct 2021.

Rating agencyRated onRating
Crisil18 Oct 2021

To see the full credit ratings and regulatory alerts of Subex Limited, buy the company report.

MSME payment delays

No delayed payments to MSME suppliers are on our record for Subex Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.

Group structure & subsidiaries

Subex has 2 subsidiary companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.

2
Subsidiary companies
Key subsidiaries
Company NameCINShares held
Subex Account Aggregator Services Private LimitedU67110KA2022PTC161029
Subex Technologies LimitedU74140KA2005PLC035905

To see the full group structure of Subex Limited, buy the company report.

Employees & EPFO

Subex Limited has a workforce of 820 employees on its EPFO records as of Apr 03, 2024, across 1 active EPFO establishment.

Employee count
820
Active EPFO establishments
1
Employee growth
-7.24%

GST

Subex has 1 GST registration: 1 active.

Total GSTINs
1
Active
1
GSTINStateStatusRegistered on
29AABCS9255R1ZDKarnatakaActive01 Jul 2017

To see the full GST registrations and return filing status of Subex Limited, buy the company report.

Recent activity

Subex Limited has 58 board changes on record since 1994: 32 appointments and 26 cessations. The latest: Stephane Raymond Marie Le Letty was appointed as Additional Director on 25 Mar 2026.

Filing
Subex Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Bangalore.
Appointed
Stephane Raymond Marie Le Letty was appointed as Additional Director.
Appointed
Alok Ohrie was appointed as Director.
Appointed
Venkata Erinti Narayana was appointed as Director.
AGM
Subex Limited last Annual general meeting of members was held on 29 Sep 2025 as per latest MCA records.
Ceased
Anil Chandanmal Singhvi ceased to be Director.
Ceased
Bottolanda Archana Muthappa ceased to be Director.
Ceased
Poornima Kamalaksh Prabhu ceased to be Director.
Ceased
George Zacharias ceased to be Director.
Appointed
Murali Kalyanaraman was appointed as Director.
Appointed
Nisha Dutt was appointed as Managing Director.
Ceased
Vinod Kumar Padmanabhan ceased to be Additional Director.

64 earlier events are in the company report.

News

SUBEXLTD: Q2 REVENUE 856M RUPEES VS 689M (YOY)
03 Nov 2026 · Exchange Update
SUBEXLTD: Q2 CONS NET PROFIT 143M RUPEES VS 29M (YOY)
03 Nov 2026 · Exchange Update
SUBEXLTD: Q2 EBITDA 178M RUPEES VS 63M (YOY); Q2 EBITDA MARGIN 20.75% VS 9.11% (YOY)
03 Nov 2026 · Exchange Update
Subex: Co Wins $0.72 Million AI Contract With Major African Telecom To Boost Fraud Investigation And Revenue Assurance For One Year.
30 Oct 2026 · Exchange Update
Subex: Lands $0.7 Million Contract With Major African Mobile Operator For Three-Year Deployment Of Hypersense Fraud Management Solutions, Enhancing Fraud Detection Abilities.
09 Oct 2026 · Exchange Update

Frequently asked questions

Subex is an active public limited company based in Bengaluru, Karnataka, India. The company works in IT consulting and support services, within the information technology industry. It was incorporated on 06 December 1994 (32+ years old) and is registered under CIN L85110KA1994PLC016663. Listed on BSE: 532348 and NSE: SUBEXLTD.

Subex reported revenue of ₹279.06 Cr for FY 2025-26 (down 2.3% YoY) based on consolidated financials.

Subex has 6 current directors:

The latest financial statements of Subex on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 29 September 2025. Year-wise statements from 2015 are in the company report.

The GSTIN of Subex is 29AABCS9255R1ZD, registered in Karnataka.

The CIN (Corporate Identification Number) of Subex is L85110KA1994PLC016663. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Yes. Subex is a listed company as per MCA records. Its shares are listed on both BSE (code: 532348) and NSE (symbol: SUBEXLTD).

Subex has 71 court cases on record: 33 filed by the company and 38 filed against it. 7 are pending. Most are in the high courts.

Subex was incorporated on 06 December 1994, making it 32+ years old. It is registered with the Registrar of Companies, Bangalore.

Subex has 222 deals on record (213 market trades, 5 funding rounds, 2 secondary share transfers), with disclosed funding of ₹170.32 Cr; the latest was in May 2026.

The peers of Subex by revenue are Acpl Systems Private Limited, Valtech India Systems Private Limited, Precision Infomatic (Madras ) Private Limited, Virtusa Systems (India) Private Limited, all in the Information Technology industry (IT Consulting and Services), with the same principal business activity (computer programming, consultancy and related activities).