Subex Limited — Quarter and year ended March 31, 2026 (Published May 12, 2026)
The following financial tables are extracted from the provided document.
| Particulars | Quarter ended March 31, 2026 Audited (Refer note 7) | Quarter ended December 31, 2025 Unaudited | Quarter ended March 31, 2025 Audited (Refer note 7) | Year ended March 31, 2026 Audited | Year ended March 31, 2025 Audited |
|---|---|---|---|---|---|
| Income | |||||
| Revenue from operations | 6,456 | 6,544 | 6,627 | 25,607 | 26,881 |
| Other income | 1,153 | 342 | 58 | 3,142 | 219 |
| Total income | 7,609 | 6,886 | 6,685 | 28,749 | 27,100 |
| Expenses | |||||
| Employee benefits expense | 2,751 | 2,670 | 2,649 | 10,975 | 11,298 |
| Finance costs | 74 | 63 | 43 | 296 | 194 |
| Depreciation and amortization expense | 278 | 253 | 314 | 1,158 | 1,266 |
| Impairment allowance for trade receivables | (2,048) | 102 | 941 | (1,986) | 1,307 |
| Share of (Profit) / loss from Limited Liability Partnerships (net) (refer note 3) | (891) | 72 | 887 | (353) | 2,584 |
| Other expenses | 3,885 | 3,569 | 3,872 | 14,448 | 15,452 |
| Total expenses | 4,049 | 6,729 | 8,706 | 24,538 | 32,101 |
| Profit /(loss) before exceptional items and tax expense (1-2) | 3,560 | 157 | (2,021) | 4,211 | (5,001) |
| Exceptional items | |||||
| Share of (Profit)/Loss from Limited liability Partnerships | |||||
| – Impairment of investment in subsidiary (note 10) | 2,847 | – | – | 2,847 | – |
| – Profit on sale of business unit (refer note 6) | – | – | – | – | (422) |
| Statutory impact of new labour codes (refer note 8) | 20 | 428 | – | 448 | – |
| Total exceptional items | 2,867 | 428 | 3,295 | (422) | |
| Profit /(loss) before tax expense (3-4) | 693 | (271) | (2,021) | 916 | (4,579) |
| Tax expense, net | |||||
| Current tax | – | – | – | 31 | – |
| Provision – foreign income taxes | 89 | 67 | 35 | 299 | 263 |
| Deferred tax charge | – | – | 136 | – | 136 |
| Total tax expense | 89 | 67 | 171 | 330 | 399 |
| Net Profit /(loss) for the period/year (5-6) | 604 | (338) | (2,192) | 586 | (4,978) |
| Other comprehensive (loss)/ income, net of tax expense | |||||
| Items that will not be reclassified subsequently to profit or loss | |||||
| Re-measurement gain/(loss) on defined benefits plan | 18 | – | 29 | (11) | (12) |
| Total other comprehensive income/(loss) | 18 | – | 29 | (11) | (12) |
| Total comprehensive income /(loss) for the period/ year (7+8) | 622 | (338) | (2,163) | 575 | (4,990) |
| Paid up equity share capital | 28,100 | 28,100 | 28,100 | 28,100 | 28,100 |
| (face value of ₹ 5 per share) | |||||
| Other equity | – | – | – | (10,941) | (11,613) |
| Earnings per share (of ₹ 5/- each) (not annualised in case of the interim periods) | |||||
| – Basic (₹) | 0.11 | (0.06) | (0.40) | 0.11 | (0.90) |
| – Diluted (₹) | 0.11 | (0.06) | (0.40) | 0.11 | (0.90) |
| Particulars | As at March 31, 2026 (Audited) | As at March 31, 2025 (Audited) |
|---|---|---|
| A ASSETS | ||
| Non-current assets | ||
| Property, plant and equipment | 397 | 325 |
| Right-of-use assets | 2,510 | 1,561 |
| Intangible assets | 135 | 255 |
| Financial assets | ||
| Investments | 13,960 | 14,185 |
| Other financial assets | 1,514 | 710 |
| Income tax asset (net) | 314 | 2,955 |
| Other non-current assets | 98 | 16 |
| Total non-current assets | 18,928 | 20,007 |
| Current assets | ||
| Financial assets | ||
| Investments | 2,088 | 1,341 |
| Loans | 46 | 60 |
| Trade receivables | 4,231 | 5,533 |
| Cash and cash equivalents | 1,785 | 466 |
| Other balances with banks | 1,190 | 336 |
| Other financial assets | 3,725 | 1,366 |
| Other current assets | 2,450 | 868 |
| Total current assets | 15,515 | 9,970 |
| Total assets | 34,443 | 29,977 |
| B EQUITY AND LIABILITIES | ||
| Equity | ||
| Equity share capital | 28,100 | 28,100 |
| Other equity | (10,941) | (11,613) |
| Total equity | 17,159 | 16,487 |
| Liabilities | ||
| Non-current liabilities | ||
| Financial liabilities | ||
| Lease liabilities | 2,062 | 1,014 |
| Provisions | 402 | – |
| Total non-current liabilities | 2,464 | 1,014 |
| Current liabilities | ||
| Financial liabilities | ||
| Lease liabilities | 563 | 837 |
| Trade payables | ||
| – total outstanding dues of micro enterprises and small enterprises | 138 | 47 |
| – total outstanding dues of creditors other than micro enterprises and small enterprises | 3,838 | 6,519 |
| Other financial liabilities | 6,811 | 3,966 |
| Other current liabilities | 2,998 | 773 |
| Provisions | 472 | 334 |
| Total current liabilities | 14,820 | 12,476 |
| Total liabilities | 17,284 | 13,490 |
| Total equity and liabilities | 34,443 | 29,977 |
| Particulars | March 31, 2026 Audited | March 31, 2025 Audited |
|---|---|---|
| (A) Cash flow from operating activities | ||
| Profit/(Loss) before tax | 916 | (4,579) |
| Adjustments to reconcile loss before tax to net cash flows: | ||
| Depreciation of property, plant and equipment and right-of-use assets | 1,038 | 1,150 |
| Amortization of intangible assets | 120 | 116 |
| Employee share based payments expense | 11 | 88 |
| Interest income (including fair value changes) | (2,188) | (115) |
| Net gain on sale of investment (including fair value changes) | (126) | (31) |
| Finance costs (including fair value changes) | 296 | 194 |
| Impairment allowance for trade receivables | (1,986) | 1,307 |
| Gain on disposal of property, plant and equipment | (260) | – |
| Loss/(gain) on disposal of property, plant and equipment | 29 | (8) |
| Share of loss from Limited Liability Partnerships (net) | 2,493 | 2,584 |
| Profit on sale of business unit | – | (422) |
| Unrealised foreign exchange differences | (373) | 239 |
| Operating profit/(loss) before working capital changes | (30) | 523 |
| Working capital adjustments: | ||
| Decrease in loans | 14 | 2 |
| Decrease in trade receivables | 2,078 | 430 |
| (Increase)/decrease in other financial assets and other assets | (1,470) | 505 |
| Decrease in trade payables | (1,707) | (336) |
| Increase in other financial liabilities | 1,264 | 85 |
| Increase/(decrease) in other current liabilities | 2,225 | (91) |
| Increase in provisions | 525 | 3 |
| 2,899 | 1,121 | |
| Income tax paid (net of refund) | 4,169 | (309) |
| Net cash flows from operating activities | 7,068 | 812 |
| (B) Cash flow from investing activities | ||
| Purchase of property, plant and equipment, other intangible assets and capital advances | (360) | (130) |
| Proceeds from sale of property, plant and equipment | – | 8 |
| Drawings from Limited Liability Partnerships | – | 2,700 |
| Share of loss paid to Limited Liability Partnerships | (221) | (895) |
| Proceeds from sale of mutual funds | 13,493 | 11,155 |
| Investment in mutual funds | (14,114) | (11,734) |
| Proceeds from liquidation of subsidiary (Subex Account Aggregator Services Pvt Ltd) | 225 | – |
| Investment in deposit account (net) | (4,137) | (1,531) |
| Interest received | 126 | 5 |
| Net cash flows used in investing activities | (4,988) | (422) |
| (C) Cash flow from financing activities | ||
| Proceeds from exercise of employee stock options plans | 87 | – |
| Interest paid on lease liabilities | (292) | (186) |
| Repayment of principal portion of lease liabilities | (556) | (843) |
| Net cash flows used in financing activities | (761) | (1,029) |
| (D) Net increase/(Decrease) in cash and cash equivalents (A+B+C) | 1,319 | (639) |
| Cash and cash equivalents at the beginning of the year | 466 | 1,105 |
| (E) Cash and cash equivalents at the end of the year | 1,785 | 466 |
| Particulars | Quarter ended March 31, 2026 Audited (Refer note 8) | Quarter ended December 31, 2025 Unaudited | Quarter ended March 31, 2025 Audited (Refer note 8) | Year ended March 31, 2026 Audited | Year ended March 31, 2025 Audited |
|---|---|---|---|---|---|
| Subex Assurance LLP | |||||
| Share of loss before exceptional items | (13) | (240) | (34) | (787) | (84) |
| Exceptional Item – Impairment of investment in subsidiary – Refer Note 10 | (2,847) | – | – | (2,847) | – |
| Total | (2,860) | (240) | (34) | (3,634) | (84) |
| Subex Digital LLP | |||||
| Share of profit/(loss) before exceptional items | 904 | 168 | (853) | 1,140 | (2,500) |
| Exceptional Item – Profit on sale of business unit – Refer Note 6 | – | – | – | 422 | |
| Total | 904 | 168 | (853) | 1,140 | (2,078) |
| Total Share of LLPs | (1,956) | (72) | (887) | (2,494) | (2,162) |
| Particulars | Quarter Ended March 31, 2026 Audited (Refer note 7) | Quarter Ended December 31, 2025 Unaudited | Quarter Ended March 31, 2025 Audited (Refer note 7) | Year Ended March 31, 2026 Audited | Year Ended March 31, 2025 Audited |
|---|---|---|---|---|---|
| Income | |||||
| Revenue from operations | 7,296 | 7,079 | 7,060 | 27,906 | 28,561 |
| Other income | 751 | 445 | 276 | 3,176 | 695 |
| Total income | 8,047 | 7,524 | 7,336 | 31,082 | 29,256 |
| Expenses | |||||
| Employee benefits expense | 4,061 | 4,030 | 4,062 | 16,456 | 18,518 |
| Finance costs | 80 | 66 | 50 | 327 | 222 |
| Depreciation and amortization expense | 291 | 237 | 338 | 1,208 | 1,412 |
| Impairment allowance for trade receivables | 142 | 25 | 1,826 | 304 | 2,110 |
| Other expenses | 2,177 | 2,140 | 2,472 | 8,572 | 9,398 |
| Total expenses | 6,751 | 6,498 | 8,748 | 26,867 | 31,660 |
| Profit / (loss) before exceptional items and tax expense (1-2) | 1,296 | 1,026 | (1,412) | 4,215 | (2,404) |
| Exceptional items | |||||
| Profit on sales of business unit (refer note 5) | – | – | – | – | (422) |
| Statutory impact of new labour codes (refer note 9) | 16 | 450 | – | 466 | – |
| Total exceptional items | 16 | 450 | – | 466 | (422) |
| Profit / (loss) before tax expense (3-4) | 1,280 | 576 | (1,412) | 3,749 | (1,982) |
| Tax expense, net | |||||
| Current tax charge | 29 | 3 | 46 | 58 | 141 |
| Provision – foreign income taxes | 258 | 280 | 166 | 839 | 863 |
| Deferred tax charge/(credit) | – | – | 136 | (1) | 158 |
| Total tax expense | 287 | 283 | 348 | 896 | 1,162 |
| Net Profit / (loss) for the period/year (5-6) | 993 | 293 | (1,760) | 2,853 | (3,144) |
| Other comprehensive income/ (loss) net of tax expense | |||||
| Items that will be reclassified subsequently to profit or loss: | |||||
| Net exchange differences gain on translation of foreign operations | 574 | 105 | 51 | 896 | 163 |
| Items that will not be reclassified subsequently to profit or loss: | |||||
| Re-measurement gain/(loss) on defined benefit plan | 17 | 15 | 11 | (13) | (11) |
| Total other comprehensive income | 591 | 120 | 62 | 883 | 152 |
| Total comprehensive income/ (loss) for the period/year (7+8) | 1,584 | 413 | (1,698) | 3,736 | (2,992) |
| Paid up equity share capital (face value of ₹ 5 per |