Xchanging Solutions Limited

Information Technology · IT - Software

NSE: XCHANGING BSE: 532616

₹61.24

Sept. 30, 2026 · NSE · nse_bhavcopy

Peers in IT - Software

The largest companies in the same industry by market cap. This company ranks #48 of 126. PE, ROE, 1Y return and scores come from the daily/weekly precomputed snapshot.

Company	Market cap (₹ Cr)	PE (TTM)	ROE	1Y return	Div. yield	Quality	Valuation	Momentum
Tata Consultancy Services Limited	741,925	14.8	45.6%	-29.6%	3.17%	98	27	11
Infosys Limited	403,364	13.4	31.6%	-31.2%	4.83%	98	73	11
HCL Technologies Limited	333,781	28.3	22.1%	-11.5%	4.88%	93	29	14
Wipro Limited	156,971	14.7	15.0%	-34.3%	5.05%	83	83	10
Tech Mahindra Limited	149,361	39.1	16.0%	7.6%	—	78	10	31
LTM Limited	119,983	24.6	20.7%	-21.0%	1.85%	78	21	12
Oracle Financial Services Software Limited	92,558	26.0	33.7%	21.8%	3.76%	80	12	29
Persistent Systems Limited	83,276	49.3	23.8%	6.5%	—	82	25	31
Xchanging Solutions Limited (this stock)	682	18.9	15.0%	-28.5%	3.27%	68	83	16

Valuation multiples

Current only. Market cap is the whole company's; sales/EBITDA are trailing-twelve-month standalone; debt and cash come from the latest filed standalone balance sheet (March 31, 2026). EBITDA = PBT + interest + depreciation.

Enterprise value

₹424 Cr

EV / EBITDA

10.7x

EV / Sales

10.69x

Market cap / Sales

17.20x

Earnings yield

5.29%

Quarterly Financials

Download CSV

Standalone Consolidated

↓ Negative

Quarterly Revenue

Jun 2026 quarterly revenue is Rs 13 Cr, down 9.3% YoY.

↓ Negative

Quarterly Net Profit

Jun 2026 quarterly net profit is Rs 4 Cr, down 16.1% YoY.

Period end	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)	Basic EPS
June 30, 2026	9	6	4	₹0.3500
March 31, 2026	9	6	5	₹0.4300
Dec. 31, 2025	10	5	3	₹0.3100
Sept. 30, 2025	12	23	24	₹2.1500
June 30, 2025	11	7	5	₹0.4200
March 31, 2025	12	7	5	₹0.4500
Dec. 31, 2024	9	5	6	₹0.5600
Sept. 30, 2024	9	5	3	₹0.2900
June 30, 2024	9	7	5	₹0.4600
March 31, 2024	11	9	7	₹0.6300
Dec. 31, 2023	9	201	185	₹16.5900
Sept. 30, 2023	9	7	5	₹0.4600
June 30, 2023	9	189	170	₹15.2300

Quarterly income statement (standalone, ₹ Cr)

Indicator	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23
Total income (before exceptional items)	13	12	13	32	14	15	12	13	15	18	82	14	12
Operating revenue	9	9	10	12	11	12	9	9	9	11	9	9	9
Other income	3	3	3	20	3	3	4	4	5	8	73	5	3
Operating expenses	7	6	8	9	8	8	7	8	8	9	7	6	6
Operating profit	2	3	2	3	3	3	1	1	2	2	2	2	3
Operating profit margin	22.1%	30.7%	17.5%	26.6%	29.3%	29.6%	15.6%	12.2%	18.5%	18.4%	20.8%	26.9%	35.4%
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Exceptional items, gain / (loss)	—	—	—	—	—	—	—	—	—	—	126	—	183
Profit before tax	6	6	5	23	7	7	5	5	7	9	201	7	189
Tax	2	1	1	-1	2	2	-1	1	2	2	16	2	20
Net profit	4	5	3	—	5	5	6	3	5	7	185	5	170
EPS	0.35	0.43	0.31	2.15	0.42	0.45	0.56	0.29	0.46	0.63	16.59	0.46	15.23
Net profit (TTM)	—	—	—	—	19	20	22	200	202	366	362	179	178
EPS (TTM)	3.24	3.31	3.33	3.58	1.72	1.76	1.94	17.97	18.14	32.91	32.53	16.11	15.98

Total income excludes exceptional items, which are shown on their own row. Trendlyne and Screener fold exceptional items into revenue or other income, so their totals differ from this table by exactly that row.

Annual Financials

Year ended	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)
March 31, 2026	41	40	37
March 31, 2025	39	24	20
March 31, 2024	37	407	366
March 31, 2023	38	19	15

Annual income statement (standalone, ₹ Cr; CAGR to the latest year)

Indicator	CAGR 3Y	CAGR 5Y	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Total income (before exceptional items)	14.3%	5.0%	71^†	55^†	126^†	48^†	52^†	56^†	58^†	64^†	66^†	83^†
Operating revenue	2.5%	0.0%	41	39	37	38	44^†	41^†	43^†	52^†	56^†	74^†
Other income	—	—	30^†	16^†	89^†	9^†	8^†	15^†	16^†	12^†	10^†	9^†
Operating expenses	—	—	30^†	31^†	28^†	28^†	28^†	32^†	31^†	—	—	—
Operating profit	1.9%	3.9%	11^†	8^†	9^†	10^†	16^†	9^†	12^†	—	—	—
Operating profit margin	—	—	26.0%^†	19.7%^†	25.0%^†	26.5%^†	35.4%^†	21.5%^†	27.0%^†	—	—	—
Depreciation	—	—	0^†	0^†	1^†	1^†	1^†	1^†	1^†	0^†	1^†	—
Interest	—	—	0^†	0^†	0^†	0^†	0^†	0^†	0^†	—	—	0^†
Exceptional items, gain / (loss)	—	—	0^†	0^†	310^†	0^†	0^†	0^†	0^†	0^†	0^†	0^†
Profit before tax	29.1%	12.7%	40	24	407	19	23^†	22^†	26^†	24^†	13^†	-8^†
Tax	—	—	3^†	4^†	40^†	4^†	1^†	4^†	4^†	8^†	7^†	-1^†
Net profit	36.0%	15.2%	37	20	366	15	22^†	18^†	23^†	16^†	6^†	-7^†
EPS	36.2%	15.3%	3.31^†	1.76^†	32.91^†	1.31^†	1.99^†	1.63^†	2.04^†	—	—	—

^† Derived: the sum of that fiscal year's four quarterly filings (a real annual filing is used wherever one exists). Checked against filed annual figures, the sum lands within 0.5% for about 94% of company-years.

Annual ratios (standalone)

Ratio	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Operating margin	26.0%^†	19.7%^†	25.0%^†	26.5%^†	35.4%^†	21.5%^†	27.0%^†	—	—	—
EBIT margin	98.6%^†	61.1%^†	1105.3%^†	49.6%^†	52.4%^†	54.8%^†	61.9%^†	—	—	-10.4%^†
PBT margin	98.5%	61.0%	1105.1%	49.3%	52.0%^†	54.2%^†	61.7%^†	46.7%^†	23.2%^†	-10.6%^†
Net margin	90.1%	50.6%	995.1%	38.5%	50.6%^†	44.4%^†	53.1%^†	31.7%^†	10.0%^†	-9.4%^†
Interest coverage	2023.50x^†	590.75x^†	4071.00x^†	188.90x^†	143.56x^†	89.80x^†	240.36x^†	—	—	-64.58x^†
Dividend payout	60.4%^†	113.6%^†	91.2%^†	0.0%^†	0.0%^†	0.0%^†	0.0%^†	—	—	—
Earnings retention	39.6%^†	-13.6%^†	8.8%^†	100.0%^†	100.0%^†	100.0%^†	100.0%^†	—	—	—
Current ratio	8.83x	7.54x	—	—	—	—	—	—	—	—
Quick ratio	8.83x	7.54x	—	—	—	—	—	—	—	—
Debt to equity	0.00x	0.00x	—	—	—	—	—	—	—	—
Return on equity	12.1%	6.8%	—	—	—	—	—	—	—	—
Return on assets	11.0%	6.0%	—	—	—	—	—	—	—	—
Return on capital employed	13.2%^†	8.1%^†	—	—	—	—	—	—	—	—
Asset turnover	0.12x	0.12x	—	—	—	—	—	—	—	—

Margins and asset turnover use operating revenue (interest earned for banks, excluding other income), not total income. Liquidity, leverage and return ratios need a filed standalone balance sheet, which exists only for recent years; returns use year-end equity/assets. Dividend payout is shown only for companies with a dividend record. † = built from a summed fiscal year.

Revenue Mix

Data unavailable.

Cash Flow

Year ended	Operating (₹ Cr)	Investing (₹ Cr)	Financing (₹ Cr)	Free Cash Flow (₹ Cr)
March 31, 2026	5	30	-22	5
March 31, 2025	13	14	-45	13
March 31, 2024	-33	412	-335	-33
March 31, 2023	10	9	-0	10
March 31, 2022	11	7	-1	11

Balance Sheet (standalone)

Year ended	Total Assets (₹ Cr)	Total Equity (₹ Cr)	Reserves (₹ Cr)	Borrowings, Current (₹ Cr)	Borrowings, Non-current (₹ Cr)	Current Assets (₹ Cr)	Current Liabilities (₹ Cr)	Cash & Equivalents (₹ Cr)	Net Block (₹ Cr)	Inventory (₹ Cr)
March 31, 2026	336	305	193	0	0	264	30	258	0	0
March 31, 2025	325	290	178	0	0	254	34	246	0	0
March 31, 2024	—	—	—	—	—	—	—	—	—	—
March 31, 2023	—	—	—	—	—	—	—	—	—	—
March 31, 2022	—	—	—	—	—	—	—	—	—	—

Financial charts

Trend charts drawn from the standalone income-statement and ratio tables above (oldest year on the left); a gap means that period has no figure. Annual years marked † in the tables are derived from four quarters.