Subex Limited – Investor Presentation Summary

Key Operational Highlights

  • Revenue grew 8.9% quarter-on-quarter (QoQ) and 19.6% year-on-year (YoY) in Q1 FY27
  • Order intake included new deal wins and renewals across Europe, Middle East, and Africa
  • Business Assurance and Fraud Management (BAFM) solutions drove contract wins
  • Refocus on PEM (Prescriptive Enterprise Management) started delivering results
  • Attrition remained steady for the quarter
  • Concluded performance review cycle for FY26, with impact effective from July 2026

Key drivers of operational performance: Accelerated execution of order backlog, achievement of key billing milestones, ongoing operational efficiencies, and refocused PEM strategy.

Financial Highlights

Revenue: ₹7,945 lakhs (₹79.45 crore)

Normalized EBITDA: ₹1,687 lakhs (₹16.87 crore)

Normalized PBT: ₹1,833 lakhs (₹18.33 crore)

Earnings Per Share: ₹0.26

Normalized EBITDA Margin: 21.2%

Normalized PAT %: 20.3%

QoQ comparison: Normalized EBITDA grew 59.5% from ₹1,058 lakhs in Q4FY26, normalized PBT grew 27.5% from ₹1,438 lakhs in Q4FY26, normalized EBITDA margin expanded 640 basis points from 14.5% in Q4FY26, normalized PAT % improved from 15.8% in Q4FY26.

Drivers of financial performance: Higher revenue growth, operational efficiencies, accelerated execution of order backlog, achievement of key billing milestones.

Other Financial Information: Company received tax refund of ₹288 lakhs in Q1FY27, cash and cash equivalents stood at ₹18,480 lakhs (₹184.8 crore) as of June 30, 2026, compared to ₹17,526 lakhs on March 31, 2026.

Geographical Revenue Split

Not Specified

Balance Sheet Snapshot

Cash and cash equivalents: ₹18,480 lakhs (₹184.8 crore) as of June 30, 2026

Financial Health Insights: Continued liquidity stability with healthy cash position.

Capex & Cash Flow Health

Not Specified

Strategic & R&D Initiatives

Investments in Innovation: Continuous product development with strong R&D spend, 30+ years of expertise in telecom and handling Telco data across functions.

Expected impact on growth: Revenue growth driven by strong presence in emerging markets and increased AI adoption in developed markets, landed and expanding with AI across clients.

Strategic Rationale: High switching costs create competitive advantage, strong annuity model with approximately 70% revenue recurring, excellent customer retention of ~92%.

Industry Trends & Business Environment

Macro/Industry Trends: Increased AI adoption in developed markets, growth in emerging markets.

Impact on Company: Driving revenue growth through geographic focus and AI adoption trends.

Management Commentary & Growth Outlook

Strategic Outlook: Business momentum supported by operational efficiencies and order execution.

FY Guidance: Not Specified

Market Share Targets: Not Specified

Risks and Opportunities: Not Specified