Document Dates
May 12, 2026 (Financial Statements) | July 13, 2026 (AGM Notice)
AGM Details and Corporate Governance
The 32nd Annual General Meeting is scheduled for August 4, 2026, at 2:00 PM IST through virtual mode without physical attendance. E-voting will be available from July 31 to August 3, 2026, with a record date of July 28, 2026. Agenda items include adoption of FY26 financial statements, reappointment of Ms. Nisha Dutt as director, and special resolution for reappointment of Mr. Rupinder Goel as independent director for a second term. The company faced regulatory non-compliances regarding NRC and board composition during FY26, resulting in fines totaling ₹3.64 lakhs from BSE and NSE.
Financial Performance Highlights
Subex Limited reported a significant turnaround with standalone net profit of ₹586 lakhs in FY26 compared to a loss of ₹4,978 lakhs in FY25. Revenue declined 4.7% to ₹25,607 lakhs, but other income surged to ₹3,142 lakhs (including ₹1,858 lakh tax refund) from ₹219 lakhs. The improvement was driven by exceptional items totaling ₹3,295 lakhs, comprising ₹2,847 lakh impairment on subsidiary investment and ₹448 lakh statutory impact of new labor codes. Basic EPS stood at ₹0.11 versus loss per share of ₹0.90 in previous year. No dividend was recommended due to inadequate profits.
Subsidiary Performance and Investments
Subex Digital LLP reported net profit of ₹1,140 lakhs (FY26) versus loss of ₹2,078 lakhs (FY25), while Subex Assurance LLP reported net loss of ₹3,634 lakhs (FY26) versus ₹84 lakhs (FY25). Investment in Subex Account Aggregator Services Private Limited was liquidated pursuant to NCLT order with realization of ₹225 lakh. The company held investments in mutual funds of ₹2,088 lakhs and impairment on investments in subsidiaries totaling ₹1,08,634 lakhs continues to be recognized.
Financial Risk Management
The Group disclosed net financial assets of ₹23,753 lakhs and held foreign currency forward contracts of $1.485 million to hedge against exchange rate fluctuations. A 1% currency movement would affect profit by ₹238 lakhs. Trade receivables stood at ₹9,351 lakhs with credit loss allowance of ₹7,747 lakhs. Liquidity resources totaled ₹12,565 lakhs including cash equivalents, bank balances, and mutual fund investments. The Group has no long-term debts and maintains sufficient liquidity for operations.
Capital Structure and Shareholding
Issued, subscribed and paid-up equity share capital remained unchanged at ₹28,100 lakhs (56,20,02,935 equity shares of ₹5 each). Promoter holding is nil with 98.73% public shareholding and 1.27% held by Non-Promoter, Non-Public entities. 99.99% of shares are held in dematerialized form. Under Subex Employees Stock Option Scheme-2025, 38,00,000 options were granted during FY26 with total options outstanding at 3,12,88,500.
Regulatory Compliance and Subsequent Events
The financial statements were prepared in accordance with Indian Accounting Standards and approved by the Board on May 12, 2026. The company confirmed compliance with various regulations including no Benami transactions, no cryptocurrency dealings, and no material legal proceedings. CSR obligations were not applicable due to losses in preceding years. Unclaimed dividends for FY 2020-21 are due for transfer to IEPF in 2028.