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Route Mobile

ROUTE NSE
₹449.55 No trade today
P/E
11.40
View as Markdown
MCP
Close 4 Nov 2026 ₹449.55 −256.10 −36.3% 1Y
Start ₹705.65

Key Fundamentals

MicrocapTelecom - ServicesTelecom

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
17.40%
Debt to Equity
0.02
EPS (TTM)
₹39.43
Book Value
₹462.09
Market Cap
—
P/E (TTM)
11.40
P/B
0.97
ROE
12.60%
Dividend Yield
1.76%
EBITDA
₹591 Cr
52W High
₹769.45
52W Low
₹407.10
Volume
0

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

54 Average

Data confidence 100/100

Category scores

Quality
78
Strong
Returns, margins, earnings quality 22% weight
Valuation
77
Strong
Cheap vs sector & own history 24% weight
Growth
36
Poor
Sales & profit trajectory 9% weight
Financial Health
83
Strong
Solvency, leverage, coverage 9% weight
Momentum
30
Poor
Trend strength, vol-adjusted 12% weight
Ownership
17
Poor
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

4
  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.97 times its book value
  • Company has been maintaining a healthy dividend payout of 23.0%

No weaknesses listed

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish766
OscillatorsBullish162
Moving AveragesStrong Bearish604

Key readings

RSI (14)
51.29
Neutral
MACD (12,26,9)
−3.31
Bullish
SMA (50)
463.25
Bearish
SMA (200)
512.46
Bearish

As of

Analyst Rating

Based on 3 analysts
BUY100%

3 of 3 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
3
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+28.22%
5Y+25.68%
3Y+7.29%
1Y−3.67%
TTM−0.31%

Net profit

Net profit growth by window
10Y+15.10%
5Y+14.08%
3Y−8.27%
1Y−23.05%
TTM−14.15%

Operating cash flow

Operating cash flow growth by window
10Y+11.09%
5Y+21.22%
3Y+99.66%
1Y−3.49%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−9.50 pp
5Y−0.15 pp
3Y−0.17 pp
1Y+0.74 pp
TTM+0.97 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹458 Cr
Mar 2018₹505 Cr
Mar 2019₹845 Cr
Mar 2020₹956 Cr
Mar 2021₹1,406 Cr
Mar 2022₹2,002 Cr
Mar 2023₹3,569 Cr
Mar 2024₹4,023 Cr
Mar 2025₹4,576 Cr
Mar 2026₹4,408 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹61.00 Cr
Mar 2018₹48.00 Cr
Mar 2019₹56.00 Cr
Mar 2020₹58.00 Cr
Mar 2021₹133 Cr
Mar 2022₹170 Cr
Mar 2023₹333 Cr
Mar 2024₹389 Cr
Mar 2025₹334 Cr
Mar 2026₹257 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹488 Cr −17.4% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk high

Route Mobile Ltd is a CPaaS provider trading at a market cap of ₹3,447 crore with a PE of 13.6x. FY25 consolidated revenue grew 13.7% YoY to ₹4,576 crore, but PAT declined 14% to ₹334 crore from ₹389 crore in FY24. The stock has corrected 46% over the past year despite the company remaining virtually debt-free.

Bull Case 6
  • Virtually debt-free balance sheet with debt-to-equity near zero, providing financial flexibility and low interest burden (FY25 interest cost just ₹41 crore on ₹4,576 crore revenue)
  • FY25 revenue grew 13.7% YoY to ₹4,576 crore with 156 billion billable transactions processed, demonstrating scale
  • Long-term sales CAGR of 28% over 10 years and 26% over 5 years reflects a structural growth trajectory in the CPaaS industry
  • Consistent dividend payout averaging 23% with current yield of 1.63%, providing income while the company reinvests for growth
  • Global diversification serving 40,000+ customers across enterprises, OTT players, and mobile network operators reduces single-market risk
  • FY26 gross profit margin expanded to 22.9-24.5% range versus 19.3% in prior year Q4, indicating improving unit economics
Bear Case 8
  • Stock has declined 46% over 1 year and compounded at -30% CAGR over 3 years, reflecting sustained loss of market confidence
  • PAT fell 14% in FY25 to ₹334 crore from ₹389 crore in FY24, and Q4 FY25 profit dropped 37% YoY to ₹60 crore, showing earnings deterioration
  • TTM revenue growth has turned negative at -4% and TTM profit growth is -2%, indicating recent momentum has stalled
  • 3-year compounded profit growth is 0%, meaning the company has delivered no earnings growth over a meaningful period despite revenue expansion
  • ROE has declined from a 10-year average of 17% to 12% in the latest year, signalling deteriorating capital efficiency
  • Operating profit margin remains thin at around 11-12% (FY25 OPM 11.42%), leaving limited buffer if pricing pressure intensifies in the competitive CPaaS market
  • EPS declined from ₹59.74 in FY24 to ₹50.61 in FY25, a 15% drop, compressing per-share earnings despite top-line growth
  • Other income swung to negative ₹82 crore in FY26 from positive ₹28 crore in FY25, introducing earnings volatility from non-operating items

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

121d ago

TL;DR: Route Mobile is expanding its messaging ecosystem through a high-profile Truecaller partnership reaching 500M+ users, which could materially boost volumes. No material headwinds emerged this week; leadership change at subsidiary Masivian bears watching but appears routine. The trend is mildly positive with the partnership signaling continued platform growth.

Positives 1
  • Truecaller partnership, 500M users Jul 1

    Route Mobile partnered with Truecaller to expand business messaging reach to over 500 million users globally, strengthening its CPaaS distribution.

Neutral 2
  • Masivian CEO resigns Jul 1

    Route Mobile accepted the resignation of Erwin Viertel as CEO of Masivian S.A.S. effective June 30, 2026, citing personal commitments.

  • Fair Disclosure Code amended Jun 29

    Board approved the amended Fair Disclosure Code for UPSI on June 29, 2026, ensuring continued compliance with SEBI regulations.

Quarterly Results

₹ Cr
ROUTE quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
967
1,015
1,024
1,017
1,103
1,113
1,184
1,175
1,051
1,119
1,107
1,131
1,152
1,180
Expenses
840
886
899
892
980
978
1,054
1,053
957
983
961
995
1,046
1,065
Operating Profit
127
128
125
125
124
135
130
122
94
136
146
136
105
115
OPM %
13%
13%
12%
12%
11%
12%
11%
10%
9%
12%
13%
12%
9%
10%
Other Income
11
4
35
13
11
39
9
−13
11
−109
13
28
11
12
Interest
7
7
6
8
9
14
9
8
6
2
1
1
1
2
Depreciation
21
21
22
22
22
22
22
22
22
23
23
24
24
24
PBT
110
104
132
109
103
137
107
79
77
2
135
139
91
101
Tax %
17%
15%
14%
13%
21%
22%
20%
24%
23%
1042%
24%
18%
25%
18%
Net Profit
92
88
114
95
81
107
85
60
59
−19
103
114
69
83
EPS (₹)
14.8
14.18
16.89
14.03
12.51
16.08
13.09
8.98
8.45
−3.37
15.51
17.35
9.94
—

Sep 2026: from the results filed on 27 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
ROUTE profit and loss, annual, ₹ crore
Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
367
458
505
845
956
1,406
2,002
3,569
4,023
4,576
4,408
4,509
Expenses
288
375
433
758
855
1,231
1,782
3,124
3,510
4,046
3,866
3,985
Operating Profit
80
82
72
87
101
175
220
445
514
529
542
524
OPM %
22%
18%
14%
10%
11%
12%
11%
12%
13%
12%
12%
12%
Other Income
4
5
5
8
−3
16
20
39
57
28
−84
−57
Interest
1
1
7
12
6
4
7
22
30
40.91
13
6
Depreciation
3
5
12
17
23
26
38
82
86
89
92
93
PBT
80
81
57
65
69
162
195
382
455
426
353
368
Tax %
22%
25%
17%
15%
16%
18%
13%
13%
15%
22%
27%
—
Net Profit
63
61
48
56
58
133
170
333
389
334
257
267
EPS (₹)
12.55
12.13
9.74
11.38
11.65
23.1
26.36
52.38
59.74
50.61
37.94
39.43
Div. Payout %
35%
0%
15%
13%
13%
9%
19%
21%
18%
22%
29%
—

Balance Sheet

₹ Cr
ROUTE balance sheet, annual, ₹ crore
Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
20
50
50
50
50
58
63
62
63
63
63
Reserves
50
77
121
173
219
594
1,610
1,758
2,087
2,369
2,707
Borrowings
0
18
84
79
53
20
16
140
378
468
42
Other Liabilities
158
55
168
185
302
350
964
916
934
912
720
Total Liabilities
228
200
423
487
625
1,022
2,653
2,877
3,462
3,812
3,531
Fixed Assets
9
33
182
170
176
193
952
953
898
818
890
CWIP
1
0
0
2
0
1
0
15
26
32
8
Investments
0
0
0
11
12
13
13
20
15
16
17
Other Assets
218
167
241
304
438
815
1,688
1,889
2,523
2,946
2,617
Total Assets
228
200
423
487
625
1,022
2,653
2,877
3,462
3,812
3,531

Cash Flow

₹ Cr
ROUTE cash flow, annual, ₹ crore
Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
203
−60
28
23
98
222
135
73
−98
602
581
Investing
−35
−19
−132
0
1
−225
−821
111
−2
−261
−16
Financing
−33
18
46
−17
−67
211
824
−108
158
−34
−535
Net Cash Flow
135
−61
−57
6
32
208
137
76
59
308
30
Free Cash Flow
197
−78
22
25
91
214
117
35
−133
583
555
CFO/EBITDA
280
−41
51
34
116
137
82
24
−4
132
131

Ratios

ROUTE financial ratios, annual
Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
22
26
70
63
78
56
94
72
97
74
75
Inventory Days
0
0
0
0
0
0
0
0
0
—
—
Cash Conversion Cycle
22
26
70
63
78
56
94
72
97
74
75
Working Capital Days
−130
−26
−93
−36
−22
−17
−6
11
29
7
40
ROCE %
—
76%
32%
28%
29%
33%
17%
22%
21%
18%
17%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Route Mobile insights

61 extracted metrics across FY16–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 74.85%
  • Public 18.49%
  • Others 2.81%
  • DIIs 2.20%
  • FIIs 1.64%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Route Mobile

What does Route Mobile Ltd do?
Route Mobile Limited is a cloud communications platform service provider catering to enterprises, OTT players, and mobile network operators (MNOs). RML's portfolio comprises solutions in Business Messaging, Voice, Email, SMS filtering, analytics, and monetization.
Where is Route Mobile Ltd (ROUTE) listed?
Route Mobile Ltd trades as ROUTE on the NSE and under code 543228 on the BSE.
Which sector does Route Mobile Ltd belong to?
Route Mobile Ltd is classified under the Telecom sector, in the Telecom Services industry.
What is the PE ratio of Route Mobile Ltd?
Route Mobile Ltd trades at a PE ratio of 11.40 as of 4 Nov 2026, on earnings per share of ₹39.43, against a book value of ₹462.09 per share.
What is the 52-week high and low of Route Mobile Ltd?
Over the last 52 weeks Route Mobile Ltd has traded between ₹407.1 and ₹769.45 as of 4 Nov 2026.
Does Route Mobile Ltd pay dividends?
Route Mobile Ltd has a dividend yield of 1.76%.
What is the Return on Equity (ROE) of Route Mobile Ltd?
Route Mobile Ltd reported a return on equity of 12.60%. Its debt-to-equity ratio is 0.02.

Company Information

Route Mobile Limited is a cloud communications platform service provider catering to enterprises, OTT players, and mobile network operators (MNOs). RML's portfolio comprises solutions in Business Messaging, Voice, Email, SMS filtering, analytics, and monetization. Route Mobile Became a part of Proximus Group in May'24

Website routemobile.com
Listed 21 Sep 2020
Face Value ₹10

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