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Swing Capital

R Systems International Ltd

NSE: RSYSTEMS BSE: 532735IT / Software

R Systems is a leading provider of technology, artificial intelligence, analytics and knowledge services. It partners with customers to enable or elevate their digital transformation with diversified digital offerings including product engineering, cloud enablement, quality assurance testing and digital platforms and solutions. [1][2]

₹275
52W: ₹229 — ₹497
PE 12.2 · Book ₹58.3 · +372% vs book
Market Cap₹3,258 Cr
Stock P/E12.2Price to Earnings
ROCE35.8%Return on Capital
ROE36.2%Return on Equity
Div. Yield4.55%Face Value ₹1

Strengths

  • +Company has delivered good profit growth of 25.4% CAGR over last 5 years
  • +Company has a good return on equity (ROE) track record: 3 Years ROE 35.1%

Weaknesses

  • −Earnings include an other income of Rs.110 Cr.
  • −Debtor days have increased from 48.0 to 58.6 days.

Shareholding Pattern

Promoters51.85%
FIIs3.89%
DIIs7.2%
Public37.06%
CategorySep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026May 2026
Promoters51.93%51.93%51.9%▼0.051.89%▼0.051.89%51.88%▼0.051.85%▼0.051.85%
FIIs0.43%3.99%▲3.63.96%▼0.03.57%▼0.43.6%▲0.03.55%▼0.13.76%▲0.23.89%▲0.1
DIIs1.72%7.44%▲5.78.66%▲1.28.83%▲0.28.94%▲0.19.41%▲0.58.6%▼0.87.2%▼1.4
Public45.95%36.65%▼9.335.48%▼1.235.71%▲0.235.58%▼0.135.15%▼0.435.78%▲0.637.06%▲1.3

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales207209226235242277259288339320
Expenses171176182186198218212228267245
Operating Profit36334449435947607175
OPM %18%16%20%21%18%21%18%21%21%23%
Net Profit37324136403468942463
EPS ₹3.132.673.473.063.362.915.737.971.985.31

AI Insights

Revenue Trend

TTM revenue at ₹1,206Cr, down 1.8% YoY. OPM at 21%.

Debt Position

Borrowings at ₹384Cr. Debt-to-equity ratio: 0.57x. Moderate leverage.

Institutional Flow

DIIs: 7.2% (+6.51pp change). FIIs: 3.89% (+3.70pp change). Promoters hold 51.85%.

Margin & Efficiency

ROCE improving from 34% (Dec 2014) to 36% (Dec 2025). Working capital days: 24.

Valuation

PE 12.2x with 35.8% ROCE. Price is 372% above book value of ₹58.3. Dividend yield: 4.55%.

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