Xchanging Solutions Ltd
NSE: XCHANGING BSE: 532616IT / Software
Xchanging Solutions Ltd (XCHANGING) is a IT / Software company listed on NSE: XCHANGING | BSE: 532616. With a market cap of ₹732 Cr and ROCE of 7.8%, ROE of 6.48%, it operates in the Indian IT / Software sector.
₹65.3
52W: ₹47.5 — ₹105
PE 19.7 · Book ₹26.6 · +145% vs bookMarket Cap₹732 Cr
Stock P/E19.7Price to Earnings
ROCE7.8%Return on Capital
ROE6.48%Return on Equity
Div. Yield3.06%Face Value ₹10
Strengths
- +Company has reduced debt.
- +Company is almost debt free.
- +Company has been maintaining a healthy dividend payout of 72.4%
Weaknesses
- −The company has delivered a poor sales growth of -1.95% over past five years.
- −Earnings include an other income of Rs.30.3 Cr.
- −Debtor days have increased from 42.2 to 52.4 days.
Shareholding Pattern
Promoters75%
FIIs0.11%
DIIs0.29%
Public24.6%
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 75% | 75% | 75% | 75% | 75% | 75% | 75% | 75% |
| FIIs | 0.09% | 0.08%▼0.0 | 0.07%▼0.0 | 0.01%▼0.1 | 0.09%▲0.1 | 0%▼0.1 | 0.01%▲0.0 | 0.11%▲0.1 |
| DIIs | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% |
| Public | 24.61% | 24.62%▲0.0 | 24.63%▲0.0 | 24.7%▲0.1 | 24.61%▼0.1 | 24.69%▲0.1 | 24.69% | 24.6%▼0.1 |
Financial Statements
| Metric | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 8.58 | 8.7 | 10.67 | 9.48 | 9.03 | 8.57 | 11.61 | 10.75 | 11.62 | 9.71 |
| Expenses | 6.27 | 6.89 | 8.71 | 7.73 | 7.93 | 7.23 | 8.17 | 7.6 | 8.53 | 8.01 |
| Operating Profit | 2.31 | 1.81 | 1.96 | 1.75 | 1.1 | 1.34 | 3.44 | 3.15 | 3.09 | 1.7 |
| OPM % | 26.92% | 20.8% | 18.37% | 18.46% | 12.18% | 15.64% | 29.63% | 29.3% | 26.59% | 17.51% |
| Net Profit | 5.11 | 184.76 | 7.01 | 5.08 | 3.25 | 6.28 | 4.98 | 4.71 | 23.95 | 3.47 |
| EPS ₹ | 0.46 | 16.58 | 0.63 | 0.46 | 0.29 | 0.56 | 0.45 | 0.42 | 2.15 | 0.31 |
AI Insights
Revenue Trend
TTM revenue at ₹44Cr, up 12.8% YoY. OPM at 26%.
Debt Position
Borrowings at ₹0Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.
Institutional Flow
DIIs: 0.29% (+0.00pp change). FIIs: 0.11% (+0.07pp change). Promoters hold 75%.
Margin & Efficiency
ROCE declining from 17% (Dec 2013) to 8% (Mar 2025). Working capital days: -246.
Valuation
PE 19.7x with 7.8% ROCE. Price is 145% above book value of ₹26.6. Dividend yield: 3.06%.
Recent Announcements
- Board Meeting Intimation for Approval Of Financial Results For The Quarter And Financial Year Ended On March 31, 2026 And Recommendation Of Dividend, If Any. 14 May - Board meets May 21, 2026 to approve FY26 results and consider final dividend.
- Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot 3 May
- Shareholder Meeting / Postal Ballot-Scrutinizer"s Report 3 May
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 10 Apr - Submitted Regulation 74(5) certificate for quarter ended March 31, 2026.
- Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 - Update On Pending Litigation 8 Apr - ITAT Bangalore partly allowed Xchanging's appeal on Apr 6, 2026, directing recomputation of transfer pricing adjustment.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse