Expleo Solutions

₹1306.5 1.2 | 0.1%

WEBSITE BSE:533121 NSE : EXPLEOSOL 10 May, 16:01

Market Cap ₹2028 Cr.

Stock P/E 19.5

P/B 3.4

Current Price ₹1306.5

Book Value ₹ 384.4

Face Value 10

52W High ₹1771

Dividend Yield 0.38%

52W Low ₹ 1201.5

Edit Ratio

Expleo Solutions Research see more...

Overview Inc. Year: 1998Industry: IT - Software

Expleo Solutions Ltd, previously SQS India BFSI Ltd, is an India-based holding agency. The Company is engaged in providing software testing offerings. The Company delivers software program validation and verification services to the banking and financial offerings enterprise around the world. The Company's offerings consist of quality and risk management, test management, non-functional testing, test technology guide, and assignment and business consulting. It additionally affords functional testing offerings, along with diverse classical test degrees, test asset optimization, BAU testing, compliance testing, data migration testing and multi-channel testing. The Company offers its services to diverse industries, together with banking, finance and insurances; energy and utilities; automotive and manufacturing; retail and logistics, and telecommunications. It serves about 150 customers in Asia-Pacific, the USA, the United Kingdom and the Middle East.

Expleo Solutions Share Price

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Peer Comparison

Expleo Solutions Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	97	106	196	212	220	240	231	225	234	250
Other Income	1	0	6	1	1	13	4	2	2	11
Total Income	98	106	201	213	221	254	235	227	236	262
Total Expenditure	81	89	166	176	175	168	188	192	200	212
Operating Profit	17	18	36	38	46	86	47	35	36	50
Interest	0	0	1	0	0	1	0	1	1	1
Depreciation	2	2	5	7	7	7	7	8	8	8
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	15	15	30	31	39	77	39	26	27	41
Provision for Tax	4	4	9	8	12	22	10	6	6	7
Profit After Tax	11	11	22	23	27	55	29	20	21	34
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	11	11	22	23	27	55	29	20	21	34
Adjusted Earnings Per Share	10.8	11.1	14	22.4	17.1	35.7	18.7	13	13.2	21.9

Expleo Solutions Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	161	194	214	264	260	271	283	270	301	743	903	940
Other Income	2	10	2	6	1	13	6	8	5	6	16	19
Total Income	164	205	216	271	261	284	289	278	306	749	919	960
Total Expenditure	131	155	177	210	219	231	230	217	231	618	703	792
Operating Profit	33	50	39	61	42	54	59	61	75	130	216	168
Interest	1	2	2	0	0	0	0	1	1	1	2	3
Depreciation	5	6	5	4	5	6	5	6	6	19	28	31
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	26	42	32	56	37	48	54	54	68	110	186	133
Provision for Tax	7	12	10	19	13	16	17	14	18	42	52	29
Profit After Tax	19	30	22	37	24	32	36	40	50	68	134	104
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	19	30	22	37	24	32	36	40	50	68	134	104
Adjusted Earnings Per Share	19.2	29.3	20.5	34.7	22.3	29.9	33.8	38.9	49.2	43.6	86.3	66.8

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	22%	50%	27%	19%
Operating Profit CAGR	66%	52%	32%	21%
PAT CAGR	97%	50%	33%	22%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-8%	23%	25%	14%
ROE Average	29%	27%	27%	26%
ROCE Average	41%	39%	39%	38%

Expleo Solutions Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	88	108	102	109	127	129	139	152	202	395	530
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	11	10	7	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	-1	-1	-1	-1	-1	-2	-1	7	6	21	32
Total Current Liabilities	29	29	56	73	43	63	52	53	55	175	168
Total Liabilities	128	146	164	181	169	189	190	213	263	590	730
Fixed Assets	31	27	24	25	27	22	19	26	25	108	142
Other Non-Current Assets	1	3	2	3	5	4	8	9	12	33	35
Total Current Assets	95	116	138	153	138	163	162	177	226	449	553
Total Assets	128	146	164	181	169	189	190	213	263	590	730

Expleo Solutions Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	27	29	40	55	85	83	60	98	79	156	173
Cash Flow from Operating Activities	18	24	33	58	42	25	41	17	66	24	23
Cash Flow from Investing Activities	-21	-3	-3	11	-12	-19	25	-8	-43	4	-36
Cash Flow from Financing Activities	6	-13	-11	-39	-31	-31	-26	-29	-3	-10	-7
Net Cash Inflow / Outflow	4	8	19	29	-0	-25	39	-20	21	18	-19
Closing Cash & Cash Equivalent	29	40	55	85	83	60	98	79	98	173	153

Expleo Solutions Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	19.2	29.25	20.53	34.68	22.3	29.86	33.79	38.92	49.2	43.61	86.27
CEPS(Rs)	23.79	34.76	25.44	38.49	27.16	35.04	38.93	44.6	54.86	55.7	104.23
DPS(Rs)	6	9	24	24	24	24	0	0	0	0	5
Book NAV/Share(Rs)	87.11	105.41	96.37	102.32	119	119.95	129.48	148.33	196.77	254.15	341.56
Core EBITDA Margin(%)	18.7	20.42	17.33	20.46	15.91	14.93	18.79	19.69	23.21	16.71	22.16
EBIT Margin(%)	17.33	22.75	15.73	21.38	14.32	17.77	18.97	20.41	23.09	14.99	20.85
Pre Tax Margin(%)	16.4	21.72	14.96	21.28	14.24	17.67	18.94	20	22.73	14.83	20.6
PAT Margin (%)	12.04	15.45	10.11	13.97	9.16	11.79	12.8	14.77	16.76	9.11	14.82
Cash Profit Margin (%)	14.92	18.36	12.53	15.5	11.16	13.83	14.75	16.92	18.69	11.64	17.91
ROA(%)	16.98	21.94	13.93	21.34	13.58	17.82	19.09	19.83	21.23	15.87	20.28
ROE(%)	23.75	30.58	20.63	35.06	20.19	25.02	27.1	27.44	28.51	22.7	28.96
ROCE(%)	31.43	39.74	29.09	51.22	31.52	37.7	40.11	37.91	39.24	37.29	40.69
Receivable days	73.37	91.14	95.88	76.77	67.94	74.36	73.48	82.15	82.9	57.63	83.47
Inventory Days	0	0	0	0	0	0	0	0	0	1.12	0
Payable days	0	0	0	0	0	0	0	0	0	2189.22	3479.87
PER(x)	3.13	10.77	27.88	26.21	24.52	16.29	15	3.75	10.5	38.64	14.33
Price/Book(x)	0.69	2.99	5.94	8.88	4.59	4.05	3.91	0.98	2.63	6.63	3.62
Dividend Yield(%)	9.97	2.86	4.19	2.64	4.39	4.94	0	0	0	0	0.4
EV/Net Sales(x)	0.23	1.47	2.54	3.34	1.9	1.61	1.57	0.23	1.32	3.28	1.95
EV/Core EBITDA(x)	1.12	5.71	14.02	14.56	11.66	8.11	7.51	1.02	5.29	18.72	8.15
Net Sales Growth(%)	32.94	20.44	10.14	23.35	-1.6	4.34	4.25	-4.44	11.35	146.78	21.65
EBIT Growth(%)	49.76	58.16	-23.87	67.67	-34.09	29.49	11.27	2.85	25.92	60.26	69.21
PAT Growth(%)	70.87	54.51	-27.93	70.45	-35.46	34.28	13.22	10.22	26.41	34.17	97.83
EPS Growth(%)	69.66	52.34	-29.83	68.95	-35.71	33.9	13.19	15.18	26.41	-11.37	97.83
Debt/Equity(x)	0.16	0.11	0.09	0	0	0	0	0	0	0	0
Current Ratio(x)	3.3	3.99	2.47	2.11	3.17	2.61	3.11	3.32	4.11	2.57	3.3
Quick Ratio(x)	3.3	3.99	2.47	2.11	3.17	2.61	3.11	3.32	4.11	2.56	3.3
Interest Cover(x)	18.72	21.99	20.51	206.79	189.91	167.95	800.52	49.79	65.78	91.85	83.49
Total Debt/Mcap(x)	0.23	0.04	0.02	0	0	0	0	0	0	0	0

Expleo Solutions Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	56.17	56.17	56.17	56.17	56.17	56.17	71.05	71.05	71.05	71.05
FII	0.09	0.13	0	0.08	0.01	0.01	0.15	0	0.03	0.04
DII	2.16	2.08	2.39	3.35	4.53	4.75	2.93	2.74	3.26	2.37
Public	41.58	41.62	41.44	40.4	39.29	39.07	25.88	26.22	25.67	26.55
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	0.58	0.58	0.58	0.58	0.58	0.58	1.1	1.1	1.1	1.1
FII	0	0	0	0	0	0	0	0	0	0
DII	0.02	0.02	0.02	0.03	0.05	0.05	0.05	0.04	0.05	0.04
Public	0.43	0.43	0.42	0.41	0.4	0.4	0.4	0.41	0.4	0.41
Others	0	0	0	0	0	0	0	0	0	0
Total	1.03	1.03	1.03	1.03	1.03	1.03	1.55	1.55	1.55	1.55

Pros

Company has delivered good profit growth of 33% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 27%
Company is almost debt free.

Cons

Debtor days have increased from 2189.22 to 3479.87days.
Stock is trading at 3.4 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.