WEBSITE BSE:532616 NSE: XCHANGING Inc. Year: 2002 Industry: IT - Software
Last updated: 11:44
Xchanging Solutions Ltd is engaged in computer programming activities. The Company operates thru the Information Technology (IT) services section. The Company's subsidiaries include Xchanging Solutions (Europe) Ltd, Xchanging Solutions (Singapore) Pte Ltd, Xchanging Solutions (Malaysia) Sdn Bhd, Xchanging Solutions (USA) Inc. And Nexplicit Infotech India Pvt Ltd.
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Market Cap ₹805 Cr.
Stock P/E 16.2
P/B 2.1
Current Price ₹72.3
Book Value ₹ 34.1
Face Value 10
52W High ₹109
Dividend Yield 5.53%
52W Low ₹ 68.1
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 43 | 42 | 44 | 44 | 44 | 46 | 51 | 50 | 53 | 49 |
| Other Income | 6 | 5 | 8 | 6 | 4 | 4 | 4 | 4 | 3 | 3 |
| Total Income | 49 | 47 | 52 | 50 | 48 | 50 | 54 | 54 | 56 | 52 |
| Total Expenditure | 32 | 31 | 35 | 33 | 34 | 31 | 33 | 34 | 36 | 33 |
| Operating Profit | 17 | 16 | 18 | 16 | 15 | 18 | 21 | 20 | 20 | 19 |
| Interest | 0 | 0 | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 17 | 16 | 16 | 14 | 13 | 16 | 20 | 19 | 19 | 18 |
| Provision for Tax | 3 | 19 | 4 | 4 | 3 | 2 | 5 | 5 | 3 | 5 |
| Profit After Tax | 14 | -4 | 12 | 11 | 10 | 14 | 15 | 14 | 16 | 13 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 14 | -4 | 12 | 11 | 10 | 14 | 15 | 14 | 16 | 13 |
| Adjusted Earnings Per Share | 1.2 | -0.3 | 1.1 | 1 | 0.9 | 1.3 | 1.3 | 1.2 | 1.5 | 1.2 |
| #(Fig in Cr.) | Dec 2014 | Dec 2015 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 287 | 279 | 307 | 186 | 184 | 182 | 196 | 174 | 174 | 174 | 185 | 203 |
| Other Income | 24 | 15 | 14 | 16 | 15 | 13 | 16 | 9 | 11 | 22 | 17 | 14 |
| Total Income | 311 | 295 | 321 | 202 | 199 | 195 | 212 | 183 | 185 | 196 | 202 | 216 |
| Total Expenditure | 286 | 252 | 298 | 160 | 141 | 134 | 140 | 121 | 125 | 128 | 132 | 136 |
| Operating Profit | 24 | 43 | 23 | 42 | 57 | 61 | 71 | 62 | 60 | 69 | 70 | 80 |
| Interest | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 6 | 5 |
| Depreciation | 5 | 4 | 3 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 0 | 0 |
| Exceptional Income / Expenses | 13 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 32 | 39 | 20 | 41 | 57 | 59 | 70 | 61 | 60 | 66 | 63 | 76 |
| Provision for Tax | 7 | 9 | 2 | 9 | 10 | 5 | 7 | 8 | 15 | 52 | 14 | 18 |
| Profit After Tax | 25 | 29 | 18 | 32 | 47 | 55 | 62 | 53 | 45 | 14 | 50 | 58 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 25 | 29 | 18 | 32 | 47 | 55 | 62 | 53 | 45 | 14 | 50 | 58 |
| Adjusted Earnings Per Share | 2.3 | 2.6 | 1.6 | 2.8 | 4.2 | 4.9 | 5.6 | 4.7 | 4 | 1.2 | 4.5 | 5.2 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 6% | 2% | 0% | -4% |
| Operating Profit CAGR | 1% | 4% | 3% | 11% |
| PAT CAGR | 257% | -2% | -2% | 7% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -30% | 4% | -1% | 6% |
| ROE Average | 14% | 8% | 9% | 9% |
| ROCE Average | 15% | 12% | 12% | 12% |
| #(Fig in Cr.) | Dec 2014 | Dec 2015 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 304 | 333 | 350 | 384 | 433 | 496 | 556 | 613 | 676 | 354 | 359 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 2 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 104 | 64 |
| Other Non-Current Liabilities | -4 | -1 | -6 | -6 | -5 | 1 | 1 | 8 | 16 | 12 | 16 |
| Total Current Liabilities | 122 | 101 | 128 | 112 | 114 | 119 | 115 | 108 | 112 | 151 | 173 |
| Total Liabilities | 424 | 434 | 472 | 490 | 543 | 616 | 672 | 730 | 805 | 621 | 611 |
| Fixed Assets | 166 | 164 | 161 | 159 | 159 | 161 | 160 | 161 | 160 | 159 | 158 |
| Other Non-Current Assets | 43 | 44 | 44 | 34 | 33 | 19 | 39 | 36 | 44 | 29 | 23 |
| Total Current Assets | 215 | 226 | 267 | 297 | 351 | 435 | 473 | 533 | 600 | 433 | 429 |
| Total Assets | 424 | 434 | 472 | 490 | 543 | 616 | 672 | 730 | 805 | 621 | 611 |
| #(Fig in Cr.) | Dec 2014 | Dec 2015 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 71 | 75 | 108 | 153 | 195 | 257 | 326 | 391 | 440 | 515 | 308 |
| Cash Flow from Operating Activities | 1 | 28 | 38 | 36 | 48 | 46 | 62 | 35 | 42 | -12 | 47 |
| Cash Flow from Investing Activities | 4 | 5 | 10 | 5 | 11 | 14 | 8 | 8 | 10 | 35 | 14 |
| Cash Flow from Financing Activities | 0 | -1 | -1 | -1 | -0 | -1 | -2 | -1 | -0 | -232 | -70 |
| Net Cash Inflow / Outflow | 4 | 32 | 47 | 41 | 59 | 58 | 68 | 42 | 51 | -209 | -9 |
| Closing Cash & Cash Equivalent | 75 | 108 | 153 | 195 | 257 | 326 | 391 | 440 | 515 | 308 | 300 |
| # | Dec 2014 | Dec 2015 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 2.25 | 2.62 | 1.64 | 2.84 | 4.19 | 4.91 | 5.61 | 4.72 | 4.03 | 1.23 | 4.45 |
| CEPS(Rs) | 2.68 | 3 | 1.91 | 2.95 | 4.24 | 5.04 | 5.73 | 4.8 | 4.09 | 1.28 | 4.48 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 34 | 4 |
| Book NAV/Share(Rs) | 27.31 | 29.88 | 31.41 | 34.43 | 38.89 | 44.53 | 49.88 | 55.07 | 60.7 | 31.77 | 32.2 |
| Core EBITDA Margin(%) | 0.25 | 9.95 | 2.97 | 14.01 | 23.21 | 26.43 | 28.29 | 30.62 | 28.44 | 26.81 | 28.69 |
| EBIT Margin(%) | 11.25 | 13.89 | 6.51 | 21.87 | 30.86 | 32.6 | 35.73 | 35.02 | 34.23 | 39.02 | 37.73 |
| Pre Tax Margin(%) | 11.06 | 13.82 | 6.46 | 21.85 | 30.85 | 32.53 | 35.59 | 34.93 | 34.17 | 37.94 | 34.29 |
| PAT Margin (%) | 8.75 | 10.45 | 5.95 | 17.02 | 25.37 | 30.01 | 31.9 | 30.17 | 25.74 | 7.85 | 26.81 |
| Cash Profit Margin (%) | 10.41 | 11.95 | 6.94 | 17.65 | 25.63 | 30.8 | 32.6 | 30.69 | 26.09 | 8.16 | 26.97 |
| ROA(%) | 6.08 | 6.81 | 4.03 | 6.58 | 9.05 | 9.44 | 9.69 | 7.5 | 5.85 | 1.92 | 8.05 |
| ROE(%) | 8.62 | 9.17 | 5.35 | 8.63 | 11.44 | 11.77 | 11.87 | 8.99 | 6.96 | 2.66 | 13.92 |
| ROCE(%) | 11 | 12.12 | 5.84 | 11.07 | 13.91 | 12.79 | 13.3 | 10.44 | 9.26 | 12 | 15.46 |
| Receivable days | 72.02 | 73.38 | 54.8 | 76.33 | 59.55 | 49.55 | 28.01 | 25.25 | 23.35 | 19.86 | 23.38 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PER(x) | 17.32 | 21.99 | 29.19 | 20.25 | 10.57 | 6.44 | 11.54 | 17.16 | 13.21 | 92.05 | 19.3 |
| Price/Book(x) | 1.43 | 1.93 | 1.52 | 1.67 | 1.14 | 0.71 | 1.3 | 1.47 | 0.88 | 3.56 | 2.67 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30.04 | 4.66 |
| EV/Net Sales(x) | 1.26 | 1.92 | 1.57 | 3.02 | 1.27 | 0.14 | 1.68 | 2.65 | 0.45 | 6.06 | 4.01 |
| EV/Core EBITDA(x) | 14.84 | 12.45 | 20.92 | 13.44 | 4.09 | 0.41 | 4.61 | 7.46 | 1.3 | 15.41 | 10.59 |
| Net Sales Growth(%) | 18.04 | -2.6 | 9.94 | -39.5 | -0.97 | -1 | 7.4 | -10.97 | 0.09 | 0 | 6.01 |
| EBIT Growth(%) | -18.58 | 20.22 | -48.51 | 103.35 | 39.75 | 4.59 | 17.69 | -12.73 | -2.18 | 13.99 | 2.53 |
| PAT Growth(%) | -17.16 | 16.29 | -37.4 | 73.09 | 47.63 | 17.11 | 14.15 | -15.81 | -14.59 | -69.49 | 261.9 |
| EPS Growth(%) | -17.16 | 16.29 | -37.4 | 73.08 | 47.63 | 17.11 | 14.15 | -15.81 | -14.59 | -69.49 | 261.9 |
| Debt/Equity(x) | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.29 | 0.24 |
| Current Ratio(x) | 1.76 | 2.24 | 2.09 | 2.66 | 3.07 | 3.67 | 4.1 | 4.95 | 5.36 | 2.87 | 2.49 |
| Quick Ratio(x) | 1.76 | 2.24 | 2.09 | 2.66 | 3.07 | 3.67 | 4.1 | 4.95 | 5.36 | 2.87 | 2.49 |
| Interest Cover(x) | 57.66 | 204.32 | 133.27 | 1016.25 | 5681 | 457.08 | 268.96 | 381.44 | 597 | 36.39 | 10.97 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.08 | 0.09 |
| # | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 |
| FII | 0.11 | 0.11 | 0.23 | 0.09 | 0.08 | 0.07 | 0.01 | 0.09 | 0 | 0.01 |
| DII | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 |
| Public | 24.6 | 24.59 | 24.47 | 24.61 | 24.63 | 24.63 | 24.7 | 24.61 | 24.7 | 24.69 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 8.36 | 8.36 | 8.36 | 8.36 | 8.36 | 8.36 | 8.36 | 8.36 | 8.36 | 8.36 |
| FII | 0.01 | 0.01 | 0.03 | 0.01 | 0.01 | 0.01 | 0 | 0.01 | 0 | 0 |
| DII | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 |
| Public | 2.74 | 2.74 | 2.73 | 2.74 | 2.74 | 2.74 | 2.75 | 2.74 | 2.75 | 2.75 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 11.14 | 11.14 | 11.14 | 11.14 | 11.14 | 11.14 | 11.14 | 11.14 | 11.14 | 11.14 |
* The pros and cons are machine generated.
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