Subex
Subex Q1 FY27 earnings call: Revenue & Margins
Q1 FY27 earnings call: what management said on revenue, margins and capex.
Guidance rank: #18 of 38 in IT - Software
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Subex Q1 FY27 key numbers
- Revenue
- There is a clear line of sight to reaching INR 100 crores topline within a few quarters, driven by backlog and new wins.
As stated in Subex's Q1 FY27 earnings call transcript · published 25 Aug 2026. Reported figures, not investment advice.
The short version
Subex is focused on delivering consistent growth, aiming for double-digit growth in FY27. FY27 is focused on accelerating growth with an emphasis on top-line expansion alongside maintaining healthy margins (Page 12, 18).
From Subex's Q1 FY27 earnings-call transcript · updated 25 Aug 2026.
Revenue & Sales Performance
- Subex is focused on delivering consistent growth, aiming for double-digit growth in FY27.
- Management acknowledges the current base but aspires for meaningful expansion, aware that growth rates in the telco industry tend to be moderate.
- 70% of revenues are recurring, with 30% coming from new contracts each year, which fuels future growth.
- There is a clear line of sight to reaching INR 100 crores topline within a few quarters, driven by backlog and new wins.
- The company intends to reinvest profits into growth initiatives, especially in AI and future areas like satellites and data centers.
- Subex is exploring inorganic growth through acquisitions, leveraging its cash reserves.
2 more points from Subex's call on revenue
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Profitability & Margins
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Capital Expenditure Plans
- Subex is investing significantly in R&D, focusing on two key areas: engineering and AI engineering, with increasing R&D intensity planned to stay competitive and enable GenAI capabilities in products.
- There is a large CapEx expansion globally, especially in data centers and satellite sectors; Subex is actively exploring these markets and investing in new capabilities to enter these exciting spaces.
- The company plans to transition revenue split over the next two years to 60% Horizon 1 (current products), 30% Horizon 2 (new markets/portfolio expansion), and 10% Horizon 3 (experimental innovations).
2 more points from Subex's call on capex
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Top-ranked in IT - Software
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Subex said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Subex maintains a qualified sales pipeline approximately 3-4 times the order intake target at any point.
- The order book includes multi-year contracts, with about 70% of revenue recurring annually and 30% coming from new contracts signed during the year.
- For contracts announced last year, around 30-40% of those values are expected to be billed this year and form part of the current backlog.
- Some slowdown and delays in order closures are noted, especially in the Middle East due to geopolitical and economic factors, but no cancellations have occurred.
2 more points from Subex's call on order book
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What the Q1 FY27 call signalled
2 of 3 strong
Subex — Quarterly revenue & net profit
Q1 FY27 figures are not in this chart yet. Latest shown: Mar 2026 (Q4 FY26). The Q1 FY27 numbers from the filing are in the analysis on this page.
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹73 Cr, net profit ₹10 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
Full financials →Continue your research
What Subex's management said in earlier quarters
Others in IT - Software this season
- Delaplex (Q1 FY27)
H2 FY26 total income (quarterly equivalent): ₹340.4 Mn vs ₹328.4 Mn in H2 FY25, a 3.66% YoY increase. Key investor presentation takeaways from Delaplex Ltd's Q1
- Xelpmoc Design (Q1 FY27)
Q1 FY27 Revenue from Operations: Rs 9.6 million, up 22.5% YoY from Rs 7.8 million in Q1 FY26 (Page 27). Key investor presentation takeaways from Xelpmoc Design'
- Cybertech Sys. (Q1 FY27)
Total Revenue: ₹766.3 million, up 17.5% YoY (Page 3, 15, 19) . Key investor presentation takeaways from Cybertech Systems & Software Ltd's Q1 FY27 investor pres
- Workmates Core2 (Q1 FY27)
FY26 total revenue: ₹143 Cr (Page 10) . Key concall takeaways from Workmates Core2cloud Solution Ltd's Q1 FY27 earnings call — and how it ranks against sector…
Potential multibaggers · Q2 FY27
Potential multibaggers in IT - Software
on management's own guidance
- Strong growth2
- Strong growth1
- CapitalNumbersGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Subex Q1 FY27 results?
Subex is focused on delivering consistent growth, aiming for double-digit growth in FY27. FY27 is focused on accelerating growth with an emphasis on top-line expansion alongside maintaining healthy margins (Page 12, 18).
What is Subex share price analysis?
Subex currently shows a below-average growth signal. The stock trades at a P/E of 32.5 with a market cap of ₹1,052 Cr. Investors should review the full earnings analysis for detailed insights.
Is Subex planning capital expenditure?
Subex is investing significantly in R&D, focusing on two key areas: engineering and AI engineering, with increasing R&D intensity planned to stay competitive and enable GenAI capabilities in products.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.