Xchanging Solutions
Xchanging Solutions
Information TechnologyKey Fundamentals
MicrocapComputer Software & ConsultingInformation TechnologyTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company has been maintaining a healthy dividend payout of 949%
Weaknesses
2- The company has delivered a poor sales growth of 0.72% over past five years.
- Company has a low return on equity of 9.82% over last 3 years.
Growth Rate
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 44 | 43 | 42 | 44 | 44 | 44 | 46 | 51 | 50 | 53 | 49 | 51 | 54 |
| Expenses | 30 | 32 | 31 | 35 | 33 | 34 | 31 | 33 | 34 | 36 | 33 | 32 | 36 |
| Operating Profit | 14 | 12 | 11 | 10 | 11 | 11 | 14 | 17 | 16 | 17 | 16 | 19 | 18 |
| OPM % | 32% | 27% | 27% | 22% | 24% | 24% | 31% | 34% | 33% | 32% | 33% | 37% | 34% |
| Other Income | 4 | 6 | 5 | 8 | 6 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 4 |
| Interest | 0 | 0 | 0 | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PBT | 17 | 17 | 16 | 16 | 14 | 13 | 16 | 20 | 19 | 19 | 18 | 21 | 20 |
| Tax % | 151% | 19% | 123% | 23% | 27% | 25% | 12% | 25% | 27% | 14% | 27% | 22% | 26% |
| Net Profit | -9 | 14 | -4 | 12 | 11 | 10 | 14 | 15 | 14 | 16 | 13 | 16 | 15 |
| EPS in Rs | -0.81 | 1.24 | -0.32 | 1.11 | 0.95 | 0.88 | 1.3 | 1.32 | 1.24 | 1.46 | 1.18 | 1.46 | 1.36 |
Profit & Loss
| Particulars | Dec 2014 | Dec 2015 | Mar 2017 15m | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 287 | 279 | 307 | 186 | 184 | 182 | 196 | 174 | 174 | 174 | 185 | 203 | 207 |
| Expenses | 286 | 252 | 298 | 160 | 141 | 134 | 140 | 121 | 125 | 128 | 132 | 134 | 136 |
| Operating Profit | 1 | 28 | 9 | 26 | 43 | 48 | 55 | 53 | 50 | 47 | 53 | 69 | 70 |
| OPM % | 0.2% | 10% | 3% | 14% | 23% | 26% | 28% | 31% | 28% | 27% | 29% | 34% | 34% |
| Other Income | 36 | 15 | 14 | 16 | 15 | 13 | 16 | 9 | 11 | 22 | 17 | 14 | 13 |
| Interest | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 6 | 5 | 5 |
| Depreciation | 5 | 4 | 3 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 |
| PBT | 32 | 39 | 20 | 41 | 57 | 59 | 70 | 61 | 60 | 66 | 63 | 77 | 78 |
| Tax % | 21% | 24% | 8% | 22% | 18% | 8% | 10% | 14% | 25% | 79% | 22% | 22% | — |
| Net Profit | 25 | 29 | 18 | 32 | 47 | 55 | 62 | 53 | 45 | 14 | 50 | 59 | 61 |
| EPS in Rs | 2.25 | 2.62 | 1.64 | 2.84 | 4.19 | 4.91 | 5.6 | 4.72 | 4.03 | 1.23 | 4.45 | 5.34 | 5.46 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 2765% | 45% | 37% | — |
Balance Sheet
| Particulars | Dec 2014 | Dec 2015 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 | 111 |
| Reserves | 193 | 222 | 239 | 272 | 322 | 385 | 444 | 502 | 565 | 243 | 247 | 285 |
| Borrowings | 2 | 1 | 1 | 0 | 0 | 2 | 3 | 2 | 1 | 105 | 85 | 71 |
| Other Liabilities | 103 | 78 | 101 | 84 | 80 | 75 | 67 | 61 | 66 | 64 | 60 | 56 |
| Total Liabilities | 409 | 412 | 452 | 468 | 513 | 573 | 625 | 676 | 743 | 523 | 504 | 523 |
| Fixed Assets | 166 | 164 | 161 | 159 | 159 | 161 | 160 | 161 | 160 | 159 | 158 | 158 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 101 | 122 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 243 | 249 | 190 | 188 | 355 | 412 | 465 | 516 | 583 | 364 | 346 | 364 |
| Total Assets | 409 | 412 | 452 | 468 | 513 | 573 | 625 | 676 | 743 | 523 | 504 | 523 |
Cash Flow
| Particulars | Dec 2014 | Dec 2015 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 1 | 28 | 38 | 36 | 48 | 46 | 62 | 35 | 42 | -12 | 49 | 41 |
| Investing | 4 | 6 | 8 | 6 | 14 | 24 | 5 | 15 | 34 | 37 | 16 | 20 |
| Financing | 0 | -1 | -1 | -1 | 0 | -1 | -2 | -1 | 0 | -232 | -72 | -50 |
| Net Cash Flow | 5 | 33 | 45 | 42 | 62 | 69 | 65 | 49 | 75 | -207 | -8 | 11 |
| Free Cash Flow | -4 | 26 | 38 | 37 | 48 | 45 | 61 | 35 | 42 | -12 | 49 | 41 |
| CFO/OP | 485 | 113 | 451 | 142 | 128 | 113 | 124 | 84 | 113 | 98 | 113 | 96 |
Ratios
| Particulars | Dec 2014 | Dec 2015 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 85 | 60 | 55 | 61 | 57 | 41 | 17 | 31 | 16 | 24 | 24 | 30 |
| Cash Conversion Cycle | 85 | 60 | 55 | 61 | 57 | 41 | 17 | 31 | 16 | 24 | 24 | 30 |
| Working Capital Days | 23 | 22 | -17 | -30 | -44 | -21 | -65 | -32 | -56 | -55 | -86 | -64 |
| ROCE % | 7% | 12% | 6% | 11% | 14% | 13% | 13% | 10% | 9% | 12% | 15% | 18% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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34 extracted metrics + investor summaries across FY14–FY26.
Documents
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Company Information
Incorporated in 2002, Xchanging Solutions Ltd is an Information Technology services provider[1]
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