Xchanging Solutions Limited, Fundamental analysis

Industry Industry name	IT - Software
Variance Full Year Net Profit Variance	20
Equity Latest Equity	111.4
Face Value Latest Face Value	10
Reserves Total Reserve	284.66
Dividend Full Year Dividend %	20
Sales Turnover Full Year Net Sales	202.92
Net Profit Full Year Net Profit	59.45
Full Year CPS Full Year Cash Per Share	5.3
Earning Per Share Full Year Earning Per Share	5.3
Quarter CPS Latest quarter Cash Per Share	0
Latest Quarter Date Latest Quarter Yrc	Mar 1, 2026
Latest Quarter Sales Latest Quarter Net Sales	51.3
Previous EPS Previous earnings per share	0
Book Value Book value	35.6
Networth Full Year Return on Networth	13.92
Price/Book Value Price to Book value	1.797753
Yearly PE ratio Full Year Price to Earning per share	12
Yearly PC ratio Full Year Price to Cash Per Share	12
Bse value BSE Value in lakhs	4.46
Nse value NSE Value in lakhs	59.03
High 52 week high	103
Low 52 week low	48
Price NSE Current market price	64
CPM Current market price	64

Market cap BSE / NSE Market Cap	713.32
Net profit Latest Quarter Net Profit	16.24
Net profit variance Latest Quarter Net Profit variance	11
Result year Trailing latest month	Mar 1, 2026
TTM Sales Trailing Twelve 12 month Net Sales	175.46
TTM OP Trailing Twelve 12 month Operating Profit	42.7
TTM OPM Trailing Twelve 12 month Operating Profit Margin	24.34
TTM GP Trailing Twelve 12 month Gross Profit	76.71
TTM GPM Trailing Twelve 12 month Gross Profit Margin	37.8
TTM NP Trailing Twelve 12 month Net Profit	29.29
TTM NPV Trailing Twelve 12 month Net Profit Variane	19.96
TTM EPS Trailing Twelve 12 month EPS	5.34
TTM PE Trailing Twelve 12 month PE	11.99
TTM CPS Trailing Twelve 12 month CPS	0
Month CPS Month Cash Per Share	0
TTM Depreciation Trailing Twelve 12 month Depreciation	0.47
Equity Latest Equity	111.4
LTP Latest Price (BSE/NSE)	64
Gross block Latest Gross Block	160.14
Loans Total loans	85.47
Advances Latest Advances for Banks	0
Net profit asset Latest Assets	0
Year OPM Full Year Operating Profit Margin	33.8
Year GPM Full Year Gross Profit Margin	37.8
Quarter OPM Latest quater Operation Profit Margin	37.2

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
+ Sales	44	44	46	51	50	53	49	51
YOY Sales Growth %	-0%	3%	7%	14%	13%	19%	7%	1%
Gross Sales	44	44	46	51	50	53	49	51
+ Expenses	33	34	31	33	34	36	33	32
Manufacturing Cost %	7%	7%	6%	6%	7%	7%	6%	6%
Employee Cost %	35%	36%	35%	32%	31%	30%	31%	27%
Other Cost %	34%	32%	28%	27%	30%	30%	30%	30%
Other Manufacturing Expenses %	7%	7%	6%	6%	7%	7%	6%	6%
Development & Construction Cost %	34%	32%	28%	27%	30%	30%	30%	30%
Operating Profit	11	11	14	17	16	17	16	19
OPM %	24%	24%	31%	34%	33%	32%	33%	37%
+ Other Income	6	4	4	4	4	3	3	3
Miscellaneous Income	6	4	4	4	4	3	3	3
Interest	2	2	2	2	1	1	1	1
Depreciation	0	0	0	0	0	0	0	0
Profit before tax	14	13	16	20	19	19	18	21
+ Tax %	27%	25%	12%	25%	27%	14%	27%	22%
Current Tax	3	3	2	5	5	3	5	4
Deferred Tax	1	0	0	0	0	0	0	0
+ Net Profit	11	10	14	15	14	16	13	16
Net Profit After Minority Interest	11	10	14	15	14	16	13	16
EPS in Rs	0.95	0.88	1.30	1.32	1.24	1.46	1.18	1.46

	Dec 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
+ Sales	279	307	186	184	182	196	174	174	174	185
Sales Growth %		10%	-39%	-1%	-1%	7%	-11%	0%	0%	6%
Gross Sales	209	223	118	184	182	196	174	174	174	185
+ Expenses	252	303	177	141	134	140	121	125	128	132
Manufacturing Cost %	12%	16%	20%	23%	26%	30%	31%	32%	35%	30%
Employee Cost %	61%	63%	56%	48%	42%	38%	36%	36%	35%	34%
Other Cost %	17%	20%	19%	6%	6%	4%	3%	4%	3%	7%
Power & Fuel %	1%	1%	0%	0%	0%	0%	0%	0%	0%	0%
Other Manufacturing Expenses %	12%	15%	20%	22%	26%	30%	31%	32%	35%	30%
Selling & Administration %	14%	12%	7%	5%	5%	2%	2%	3%	2%	5%
Miscellaneous Expenses %	3%	7%	3%	1%	0%	2%	1%	1%	1%	2%
Development & Construction Cost %	0%	0%	0%	0%	0%	0%	0%	0%	10%	30%
Loss on Forex Transaction %	-1%	-0%	0%	0%	0%	0%	0%	0%	0%	0%
Operating Profit	27	4	8	43	48	55	53	50	47	53
OPM %	10%	1%	5%	23%	26%	28%	31%	28%	27%	29%
+ Other Income	15	14	16	15	13	16	9	11	22	17
Miscellaneous Income	12	14	13	15	13	16	9	11	22	17
Interest	0	0	0	0	0	0	0	0	2	6
Depreciation	4	3	1	0	1	1	1	1	1	0
Profit before tax	38	15	23	57	59	70	61	60	66	63
+ Tax %	25%	10%	39%	18%	8%	10%	14%	25%	79%	22%
Current Tax	6	4	9	10	3	7	8	12	52	13
Deferred Tax	3	-3	0	0	1	0	1	3	1	1
+ Net Profit	28	13	14	47	55	62	53	45	14	50
Profit Growth %		-54%	9%	227%	17%	14%	-16%	-15%	-69%	262%
Net Profit After Minority Interest	29	18	32	47	55	62	53	45	14	50
EPS in Rs	2.62	1.31	2.84	4.19	4.91	5.61	4.72	4.03	1.23	4.45

	Dec 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	111	111	111	111	111	111	111	111	111	111
Reserves	222	239	272	322	385	444	502	565	243	247
+ Borrowings	1	1	0	0	2	3	2	1	105	85
Secured Borrowings	1	1	0	0	0	0	0	0	0	0
Unsecured Borrowings	0	0	0	0	2	3	2	1	105	85
Deferred Credit	0	0	0	0	0	0	0	0	0	0
+ Other Liabilities	78	101	84	80	75	67	61	66	64	60
Current Liabilities	71	97	82	79	76	66	63	66	66	61
Provisions	31	30	38	41	36	37	38	38	35	27
Other liability items	7	4	3	3	3	4	4	4	1	1
Total Liabilities	412	452	468	513	573	625	676	743	523	504
+ Fixed Assets	164	161	159	159	161	160	161	160	159	158
Gross Block	207	197	173	173	172	172	172	169	164	160
Accumulated Depreciation	43	36	14	14	11	12	12	9	4	2
CWIP	0	0	0	0	0	0	0	0	0	0
Investments	0	101	122	0	0	0	0	0	0	0
+ Other Assets	249	190	188	355	412	465	516	583	364	346
Trade receivables	46	46	31	29	21	9	15	8	11	12
Cash Equivalents	108	52	79	259	327	392	440	515	308	301
Loans n Advances	50	47	44	35	49	27	35	25	21	18
Other asset items	44	44	33	31	15	36	26	36	23	15
Total Assets	412	452	468	513	573	625	676	743	523	504

	Dec 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
+ Cash from Operating Activity	28	38	36	48	46	62	35	42	-12	47
Profit from Operations	37	20	30	45	50	64	53	50	50	55
Working Capital Changes	-6	21	7	10	4	5	-8	6	-4	3
Profit Before Tax & Extraordinary Items	39	20	41	57	59	70	61	60	66	63
Depreciation	4	3	1	0	1	1	1	1	1	0
Interest (Net)	-6	-6	-2	-3	-10	-7	-7	-10	-17	-9
Dividend Received	0	-2	-5	-5	0	0	0	0	0	0
Profit / Loss on Sale of Assets	0	0	0	0	0	0	0	0	0	0
Profit / Loss on Sale of Investments	0	0	0	0	0	0	0	0	0	0
Provisions & Write-offs (Net)	0	5	-4	-4	-1	0	-1	0	0	0
Profit / Loss in Forex	0	1	0	0	1	0	-1	0	0	0
Receivables	16	-11	14	3	9	10	-4	8	-4	-1
Trade Payables	-3	22	-20	-4	-2	-9	-7	-2	2	1
Loans & Advances	-1	0	0	0	0	0	0	0	0	0
Direct Taxes Paid	-4	-4	-1	-7	-9	-7	-10	-14	-58	-11
+ Cash from Investing Activity	6	8	6	14	24	5	15	34	37	16
Purchase of Fixed Assets	-2	-1	0	0	0	-1	0	0	0	0
Sale of Fixed Assets	1	1	1	0	0	0	0	0	0	0
Sale of Investments	0	0	0	0	0	0	0	0	0	0
Interest Received	6	8	4	3	10	8	7	9	19	14
Dividend Received	0	2	5	5	0	0	0	0	0	0
Inter-Corporate Deposits	0	0	0	0	0	0	0	0	0	0
Others	2	-2	-3	6	15	-2	8	24	17	1
+ Cash from Financing Activity	-1	-1	-1	0	-1	-2	-1	0	-232	-70
Proceeds from Other Long-Term Borrowings	0	0	0	0	0	0	0	0	104	0
Repayment of Long-Term Borrowings	-1	-1	-1	0	0	0	0	0	0	-19
Repayment of Financial Liabilities	0	0	0	0	-1	-2	-1	0	0	0
Dividend Paid	0	0	0	0	0	0	0	0	-334	-45
Interest Paid	0	0	0	0	0	0	0	0	-2	-6
Net Cash Flow	33	45	42	62	69	65	49	75	-207	-8