Subex Limited has informed the Exchange about Investor Presentation
SUBEXLTD · price
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Subex Limited shared its Q1 FY26 investor presentation ahead of the August 12 earnings call. Revenue declined 6% sequentially to ₹6,640 lakhs due to deal spillover and exit from non-telco revenues, though telco revenue was flat year-on-year. Normalised EBITDA fell to ₹428 lakhs from ₹526 lakhs last quarter on the revenue dip, partially offset by cost optimisation. However, normalised PAT jumped sharply to ₹1,281 lakhs (from ₹66 lakhs) and PBT surged to ₹1,471 lakhs, largely driven by non-operating items — a ~₹11.4 crore IT refund interest and ~₹2.6 crore lease termination gain. Closing cash improved to ₹13,582 lakhs and a ₹34 crore tax refund was received during the quarter. On the business side, Subex won a Tier 1 deal in the Middle East, renewed multiple Tier 1 contracts across Africa, Americas, India and North Africa, and launched FraudZap, a lightweight fraud detection platform.
Bottom-line beat is driven mainly by one-time non-operating gains rather than core operations, so the headline PAT jump may not reflect underlying earnings power. Sequential revenue softness and rising DSO (96 days vs 87) are mild concerns, but strong order wins, improving cash, and continued positive EBITDA in 6 of last 7 quarters provide operational support for the stock.