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Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹1231 Cr.
Stock P/E
11.9
P/B
1.6
Current Price
₹793.4
Book Value
₹ 500.2
Face Value
10
52W High
₹1366.1
52W Low
₹ 644.1
Dividend Yield
0%

Expleo Solutions Overview

Business

Expleo Solutions Ltd. is an Indian IT services and consulting company. It operates as part of the global Expleo Group, providing technology and business transformation services. The company specializes in areas such as quality assurance, software testing, digital consulting, product engineering, and agile transformation. Its core business model involves delivering project-based services and long-term engagements to clients across various industries, helping them with digital adoption, improving software quality, and optimizing business processes. Expleo Solutions makes money by charging fees for its consulting, development, testing, and managed services.

Revenue Mix

While specific revenue contributions are not provided, Expleo Solutions typically derives revenue from services categorized broadly as:

Quality Assurance & Testing: A historical core strength, ensuring software quality and performance.

Digital Transformation Services: Encompassing areas like cloud migration, data analytics, AI/ML integration, and IoT solutions.

Product Engineering & R&D Services: Assisting clients in designing, developing, and maintaining their software products.

Consulting & Agile Transformation: Providing strategic advice and implementing agile methodologies.

As part of the Expleo Group, it often aligns its service offerings with the global parent's focus areas.

Industry

Expleo Solutions operates in the highly competitive global IT services and software industry, which is characterized by rapid technological change and intense competition from both large multinational corporations and specialized niche players. In India, it competes with a wide array of IT service providers ranging from large-cap companies like TCS, Infosys, and Wipro to mid-cap and smaller specialized firms. Expleo Solutions likely positions itself as a specialized player, particularly strong in quality engineering, product engineering, and digital transformation, leveraging its association with the global Expleo Group for broader market access, brand recognition, and a global delivery model.

MOAT

Expleo Solutions' competitive advantages are likely derived from:

Specialized Expertise: Strong domain knowledge and deep capabilities in specific niches like quality engineering, performance testing, and product engineering, which can create sticky client relationships due to the complexity and criticality of these services.

Parent Group Support: Being part of the global Expleo Group provides brand credibility, access to a wider international client base, shared best practices, and potentially larger project opportunities that a standalone entity might not secure.

Client Switching Costs: For long-term engagements, particularly in critical quality assurance or embedded engineering projects, the cost and risk of switching providers can be moderate, leading to recurring revenue.

Talent Pool: Access to a skilled talent pool in India, combined with expertise from the global group, helps in delivering complex projects.

Growth Drivers

Key factors that can drive Expleo Solutions' growth over the next 3-5 years include:

Global Digital Transformation Wave: Continued enterprise spending on cloud adoption, AI/ML, data analytics, and IoT necessitates specialized IT services.

Increased Demand for Quality Engineering: Businesses prioritizing software quality, reliability, and security, driving demand for advanced testing and quality assurance services.

Product Engineering Outsourcing: Companies increasingly outsourcing product development and R&D activities to leverage specialized expertise and cost efficiencies.

Leveraging Parent Group's Global Footprint: Expanding client base and service offerings by collaborating more closely with the Expleo Group's international operations.

Geographic Expansion & Industry Focus: Targeting new markets or deepening penetration in existing high-growth industry verticals.

Risks

Intense Competition & Pricing Pressure: The IT services market is highly competitive, potentially leading to pricing pressure and margin erosion.

Talent Attrition & Wage Inflation: High demand for skilled IT professionals can lead to increased employee costs and difficulty in retaining talent.

Global Economic Slowdown: A downturn in global economic conditions can lead to reduced IT spending by clients.

Technological Obsolescence: The need to continuously invest in new technologies and upskill employees to remain relevant.

Currency Fluctuations: As a company with international revenue streams, adverse currency movements can impact profitability.

Client Concentration: Potential dependency on a few large clients, making revenue vulnerable to client-specific issues.

Management & Ownership

Expleo Solutions Ltd. is majority-owned by the global Expleo Group, which acts as the promoter. This implies that strategic direction and corporate governance are largely influenced by the parent entity's global vision and objectives. The management team at Expleo Solutions is responsible for executing the group's strategy within the Indian context and for its specific client engagements. Specific details about the individual management quality are not available, but the company operates under the framework of a global professional services firm.

Outlook

Expleo Solutions is positioned to benefit from the ongoing global trends in digital transformation and the increasing emphasis on quality engineering and product development across industries. Its association with the global Expleo Group provides a significant advantage in terms of brand, market access, and strategic alignment. However, the company operates in a highly dynamic and competitive sector, facing challenges such as talent retention, rapid technological shifts, and the need for continuous innovation. Its ability to successfully navigate these complexities while leveraging its specialized capabilities and global group support will be crucial for sustained growth.

Expleo Solutions Share Price

Live · BSE / NSE · Inception: 1998
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Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Expleo Solutions Quarterly Results

#(Fig in Cr.) Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Net Sales 250 255 252 259 258 256 260 283 279 286
Other Income 11 2 2 13 3 5 7 13 10 13
Total Income 262 257 254 272 260 260 267 295 290 299
Total Expenditure 212 221 213 217 219 216 230 236 233 244
Operating Profit 50 36 41 55 41 45 37 59 56 55
Interest 1 1 1 1 1 1 1 1 0 1
Depreciation 8 9 9 10 12 8 8 7 7 6
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 -17 2
Profit Before Tax 41 26 31 44 28 36 28 51 32 51
Provision for Tax 7 10 7 9 9 11 8 12 10 9
Profit After Tax 34 16 24 35 20 24 20 40 22 42
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 34 16 24 35 20 24 20 40 22 42
Adjusted Earnings Per Share 21.9 10.1 15.4 22.9 12.7 15.5 13.2 25.6 14.3 26.8

Expleo Solutions Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 214 264 260 271 283 270 301 743 903 965 1025 1108
Other Income 2 6 1 13 6 8 5 6 16 8 16 43
Total Income 216 271 261 284 289 278 306 749 919 972 1041 1151
Total Expenditure 177 210 219 231 230 217 231 618 703 817 859 943
Operating Profit 39 61 42 54 59 61 75 130 216 156 182 207
Interest 2 0 0 0 0 1 1 1 2 3 3 3
Depreciation 5 4 5 6 5 6 6 19 28 34 39 28
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 -15
Profit Before Tax 32 56 37 48 54 54 68 110 186 120 139 162
Provision for Tax 10 19 13 16 17 14 18 42 52 29 36 39
Profit After Tax 22 37 24 32 36 40 50 68 134 90 103 124
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 22 37 24 32 36 40 50 68 134 90 103 124
Adjusted Earnings Per Share 20.5 34.7 22.3 29.9 33.8 38.9 49.2 43.6 86.3 58.3 66.5 79.9

Expleo Solutions Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 102 109 127 129 139 152 202 395 530 611 636
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 7 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities -1 -1 -1 -2 -1 7 6 21 32 46 38
Total Current Liabilities 56 73 43 63 52 53 55 175 168 104 144
Total Liabilities 164 181 169 189 190 213 263 590 730 761 818
Fixed Assets 24 25 27 22 19 26 25 108 142 131 113
Other Non-Current Assets 2 3 5 4 8 9 12 33 35 32 142
Total Current Assets 138 153 138 163 162 177 226 449 553 598 563
Total Assets 164 181 169 189 190 213 263 590 730 761 818

Expleo Solutions Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 40 55 85 83 60 98 79 156 173 153 176
Cash Flow from Operating Activities 33 58 42 25 41 17 66 24 23 71 179
Cash Flow from Investing Activities -3 11 -12 -19 25 -8 -43 4 -36 -31 -53
Cash Flow from Financing Activities -11 -39 -31 -31 -26 -29 -3 -10 -7 -15 -87
Net Cash Inflow / Outflow 19 29 -0 -25 39 -20 21 18 -19 25 39
Closing Cash & Cash Equivalent 55 85 83 60 98 79 98 173 153 176 217

Expleo Solutions Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 20.53 34.68 22.3 29.86 33.79 38.92 49.2 43.61 86.27 58.27 66.52
CEPS(Rs) 25.44 38.49 27.16 35.04 38.93 44.6 54.86 55.7 104.23 79.96 91.85
DPS(Rs) 24 24 24 24 0 0 0 0 5 0 50
Book NAV/Share(Rs) 96.37 102.32 119 119.95 129.48 148.33 196.77 254.15 341.56 393.78 409.69
Core EBITDA Margin(%) 17.33 20.46 15.91 14.93 18.79 19.69 23.21 16.71 22.16 15.37 16.17
EBIT Margin(%) 15.73 21.38 14.32 17.77 18.97 20.41 23.09 14.99 20.85 12.66 13.91
Pre Tax Margin(%) 14.96 21.28 14.24 17.67 18.94 20 22.73 14.83 20.6 12.39 13.59
PAT Margin (%) 10.11 13.97 9.16 11.79 12.8 14.77 16.76 9.11 14.82 9.37 10.07
Cash Profit Margin (%) 12.53 15.5 11.16 13.83 14.75 16.92 18.69 11.64 17.91 12.86 13.91
ROA(%) 13.93 21.34 13.58 17.82 19.09 19.83 21.23 15.87 20.28 12.13 13.08
ROE(%) 20.63 35.06 20.19 25.02 27.1 27.44 28.51 22.7 28.96 15.85 16.56
ROCE(%) 29.09 51.22 31.52 37.7 40.11 37.91 39.24 37.29 40.69 21.4 22.86
Receivable days 95.88 76.77 67.94 74.36 73.48 82.15 82.9 57.63 83.47 92.45 84
Inventory Days 0 0 0 0 0 0 0 1.12 0 0 0
Payable days 0 0 0 0 0 0 0 2189.22 3479.87 3424.03 2166.52
PER(x) 27.88 26.21 24.52 16.29 15 3.75 10.5 38.64 14.33 20.81 11.97
Price/Book(x) 5.94 8.88 4.59 4.05 3.91 0.98 2.63 6.63 3.62 3.08 1.94
Dividend Yield(%) 4.19 2.64 4.39 4.94 0 0 0 0 0.4 0 6.28
EV/Net Sales(x) 2.54 3.34 1.9 1.61 1.57 0.23 1.32 3.28 1.95 1.76 0.98
EV/Core EBITDA(x) 14.02 14.56 11.66 8.11 7.51 1.02 5.29 18.72 8.15 10.9 5.54
Net Sales Growth(%) 10.14 23.35 -1.6 4.34 4.25 -4.44 11.35 146.78 21.65 6.82 6.21
EBIT Growth(%) -23.87 67.67 -34.09 29.49 11.27 2.85 25.92 60.26 69.21 -35.13 16.68
PAT Growth(%) -27.93 70.45 -35.46 34.28 13.22 10.22 26.41 34.17 97.83 -32.45 14.16
EPS Growth(%) -29.83 68.95 -35.71 33.9 13.19 15.18 26.41 -11.37 97.83 -32.45 14.16
Debt/Equity(x) 0.09 0 0 0 0 0 0 0 0 0 0
Current Ratio(x) 2.47 2.11 3.17 2.61 3.11 3.32 4.11 2.57 3.3 5.77 3.9
Quick Ratio(x) 2.47 2.11 3.17 2.61 3.11 3.32 4.11 2.56 3.3 5.77 3.9
Interest Cover(x) 20.51 206.79 189.91 167.95 800.52 49.79 65.78 91.85 83.49 46.83 42.91
Total Debt/Mcap(x) 0.02 0 0 0 0 0 0 0 0 0 0

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +6% +11% +31% +17%
Operating Profit CAGR +17% +12% +24% +17%
PAT CAGR +14% +15% +21% +17%
Share Price CAGR -26% -21% +4% -3%
ROE Average +17% +20% +23% +24%
ROCE Average +23% +28% +32% +35%

Expleo Solutions Shareholding Pattern

Latest · Mar 2026
100% held
Promoters 71.05 %
FII 0.42 %
DII (MF + Insurance) 0.01 %
Public (retail) 28.95 %
# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 71.0571.0571.0571.0571.0571.0571.0571.0571.0571.05
FII 0.030.040.060.210.490.330.10.130.320.42
DII 3.262.371.831.7810.910.840.840.070.01
Public 28.9528.9528.9528.9528.9528.9528.9528.9528.9528.95
Others 0000000000
Total 100100100100100100100100100100

Expleo Solutions Peer Comparison

IT - Software Edit Columns

Expleo Solutions Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Expleo Solutions Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 20%
  • Debtor days have improved from 3424.03 to 2166.52days.
  • Company is almost debt free.

Cons

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