Expleo Solutions Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,268 Cr
- P/E
- 8.64
- ROE
- 18.74%
- PEG
- -36.01
- Price to sales
- 1.10
- Debt to equity
- 0.01
- 52W high / low
- ₹1,118 / ₹647
- Sales growth (5Y)
- 29.78%
- EBITDA margin
- 15.60%
- Net profit margin
- 11.94%
- Promoter holding
- 71.05%
- Sales (last year)
- ₹1,140 Cr
Expleo Solutions Ltd is an India-based software service provider primarily delivering software validation and verification services to the BFSI industry worldwide.[1]
Guidance scorecard · Q1 FY27 call
What Expleo Solutions's management guided
and where it ranks in IT - Services
IT - Services
RevenueQ4 FY26 call
10–20%- Expectation of sustainable double-digit revenue growth in FY '27 despite uncertainties.
- Growth driven by four key levers: new logo acquisition, growing existing accounts, sector focus (payments and aerospace defense), and people investments.
- Strong pipeline validated by increased demand, exemplified by new facility for aerospace defense test bench manufacturing.
- Revenue from aerospace and defense expected to grow due to Make in India initiatives and geopolitical factors, though timing of manufacturing monetization remains uncertain.
- Expansion into new geographies like Egypt, leveraging Middle East success, to fuel new business growth.
- Increased adoption of AI expected to influence 60% of revenue by expanding scope with existing clients, though it pressures ticket sizes.
2 more points from Expleo Solutions's call on revenue
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MarginsQ4 FY26 call
FlatSee what Expleo Solutions said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- Expleo Solutions Limited inaugurated a new, larger facility in Bangalore to support increasing aerospace and defense demand, particularly for test bench production.
- The new facility includes a lab to meet higher test bench production requirements.
- There is a focus on investments in the payments sector, including the development of simulators compatible with Mastercard, Visa, RuPay, American Express, and UPIs, anticipating regulatory deadlines in 2028.
- The company is pursuing an aggressive partner-led growth strategy with over 15 partners for joint go-to-market activities globally, indicating possible strategic investments in partnerships.
2 more points from Expleo Solutions's call on capex
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FundraisingQ4 FY26 call
PlannedSee what Expleo Solutions said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
- It indicates a strong pipeline validated by acquisition of a larger lab and a new state-of-the-art facility in Bangalore, primarily driven by increasing demand in aerospace and defense sectors.
- There is strong demand from aerospace defense, especially due to "Make in India" initiatives and manufacturing activities for aircraft like Rafale, Boeing, Airbus, and Dassault Aviation, though actual manufacturing timelines have been delayed.
- AI-infused services are expanding in BFSI and technology sectors, driving continuous business growth and renewals.
2 more points from Expleo Solutions's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in IT - Services
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
IT - Services companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹28,129 Cr | 107.9 | |
| 2 | 40%+ | Flat | ₹1,612 Cr | 37.6 | |
| 3 | 40%+ | Flat | ₹1,534 Cr | 131.2 | |
| 4 | 40%+ | Flat | ₹571 Cr | 24.8 | |
| 5 | 40%+ | Flat | ₹378 Cr | 26.9 | |
| 6 | 40%+ | Flat | ₹84 Cr | 8.3 |
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Pro shows every company guiding 40%+ revenue growth →Full IT - Services rankingFinancials of Expleo Solutions
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Expleo Solutions
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 231 | 225 | 234 | 250 | 255 | 252 | 259 | 258 | 256 | 260 | 283 | 279 | 286 |
| Expenses + | 188 | 192 | 200 | 212 | 221 | 213 | 217 | 219 | 216 | 230 | 236 | 233 | 244 |
| Operating Profit | 43 | 33 | 34 | 38 | 34 | 39 | 42 | 39 | 40 | 30 | 47 | 46 | 43 |
| OPM % | 19% | 15% | 14% | 15% | 13% | 15% | 16% | 15% | 16% | 11% | 17% | 16% | 15% |
| Other Income + | 4 | 2 | 2 | 11 | 2 | 2 | 13 | 3 | 5 | 7 | 13 | -6 | 15 |
| Interest | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 |
| Depreciation | 7 | 8 | 8 | 8 | 9 | 9 | 10 | 12 | 8 | 8 | 7 | 7 | 6 |
| Profit before tax | 39 | 26 | 27 | 41 | 26 | 31 | 44 | 28 | 36 | 28 | 51 | 32 | 51 |
| Tax % | 26% | 22% | 24% | 16% | 40% | 23% | 20% | 30% | 32% | 28% | 23% | 31% | 18% |
| Net Profit + | 29 | 20 | 21 | 34 | 16 | 24 | 35 | 20 | 24 | 20 | 40 | 22 | 42 |
| EPS in Rs | 28.34 | 13.01 | 13.22 | 21.93 | 10.12 | 15.40 | 22.87 | 12.75 | 15.52 | 13.16 | 25.62 | 14.26 | 26.85 |
Financials of Expleo Solutions
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 214 | 264 | 260 | 271 | 283 | 270 | 301 | 743 | 903 | 965 | 1,025 | 1,108 |
| Expenses + | 177 | 210 | 219 | 231 | 230 | 217 | 231 | 618 | 703 | 816 | 859 | 938 |
| Operating Profit | 37 | 54 | 41 | 40 | 53 | 53 | 70 | 124 | 200 | 149 | 166 | 170 |
| OPM % | 17% | 20% | 16% | 15% | 19% | 20% | 23% | 17% | 22% | 15% | 16% | 15% |
| Other Income + | 2 | 6 | 1 | 13 | 6 | 8 | 5 | 6 | 16 | 7 | 16 | 23 |
| Interest | 2 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 2 | 3 | 3 | 2 |
| Depreciation | 5 | 4 | 5 | 6 | 6 | 6 | 6 | 19 | 28 | 34 | 39 | 28 |
| Profit before tax | 32 | 56 | 37 | 48 | 54 | 54 | 68 | 110 | 186 | 120 | 139 | 163 |
| Tax % | 32% | 34% | 36% | 33% | 32% | 26% | 26% | 39% | 28% | 24% | 26% | 24% |
| Net Profit + | 22 | 37 | 24 | 32 | 36 | 40 | 50 | 68 | 134 | 90 | 103 | 124 |
| EPS in Rs | 20.53 | 34.68 | 22.29 | 29.86 | 33.79 | 38.92 | 49.20 | 66.01 | 130.59 | 58.27 | 66.52 | 79.89 |
| Dividend Payout % | 117% | 69% | 108% | 80% | 0% | 0% | 0% | 0% | 6% | 0% | 75% | 0% |
Financials of Expleo Solutions
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 11 | 11 | 11 | 10 | 10 | 16 | 16 | 16 | 16 | 16 |
| Reserves | 91 | 98 | 116 | 118 | 128 | 142 | 192 | 379 | 515 | 596 | 620 | 761 |
| Borrowings + | 10 | 0 | 0 | 0 | 0 | 0 | 7 | 15 | 26 | 26 | 30 | 8 |
| Other Liabilities + | 54 | 73 | 43 | 63 | 53 | 62 | 56 | 185 | 174 | 128 | 165 | 145 |
| Total Liabilities | 165 | 182 | 171 | 191 | 192 | 214 | 264 | 594 | 730 | 765 | 831 | 929 |
| Fixed Assets + | 24 | 25 | 27 | 22 | 19 | 26 | 25 | 108 | 142 | 131 | 113 | 73 |
| CWIP | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 6 | 5 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15 | 0 | 0 |
| Other Assets + | 139 | 157 | 144 | 169 | 173 | 188 | 239 | 480 | 582 | 614 | 719 | 856 |
| Total Assets | 165 | 182 | 171 | 191 | 192 | 214 | 264 | 594 | 730 | 765 | 831 | 929 |
Financials of Expleo Solutions
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 33 | 58 | 42 | 25 | 41 | 17 | 66 | 24 | 23 | 71 | 179 | 119 |
| Cash from Investing Activity + | -6 | 11 | -14 | -18 | 24 | -7 | -44 | 3 | -37 | -33 | -51 | 32 |
| Cash from Financing Activity + | -11 | -39 | -31 | -31 | -26 | -29 | -3 | -10 | -7 | -15 | -87 | -9 |
| Net Cash Flow | 16 | 30 | -2 | -23 | 38 | -19 | 19 | 17 | -21 | 24 | 41 | 142 |
| Free Cash Flow | 31 | 55 | 35 | 24 | 38 | 14 | 62 | -1 | -20 | 54 | 172 | 117 |
| CFO/OP | 118% | 133% | 136% | 99% | 121% | 55% | 124% | 42% | 35% | 76% | 133% | 95% |
Financials of Expleo Solutions
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 97 | 75 | 60 | 92 | 59 | 103 | 74 | 85 | 97 | 94 | 79 | 76 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 97 | 75 | 60 | 92 | 59 | 103 | 74 | 85 | 97 | 94 | 79 | 76 |
| Working Capital Days | 23 | -7 | 8 | 21 | 15 | 50 | 48 | 46 | 93 | 112 | 67 | 68 |
| ROCE % | 29% | 51% | 31% | 38% | 40% | 38% | 39% | 36% | 39% | 20% | 21% | 25% |
Guidance history
How Expleo Solutions's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 10–20% | Flat | Planned | Planned | — |
| Q2 FY26 call → | 0–10% | Up 0–2% | Planned | — | — |
| Q4 FY25 call → | 0–10% | Flat | Planned | None planned | — |
| Q2 FY25 call → | 10–20% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
22 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −19.8% | 37% |
| Last 6 months | +0.4% | 54% |
| Last 3 months | −9.9% | 41% |
The price is 53% below its all-time high of ₹1,739.7 (7 Jan 2022). Stocks more than 20% below their peak have their score halved, so 44 became 22.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Expleo Solutions: 0.4 × 37 + 0.4 × 54 + 0.2 × 41 = 44, halved to 22 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Expleo Solutions's management said in earlier quarters
- Q3 FY24 earnings call analysis →
- Q1 FY25 earnings call analysis →
- Q3 FY25 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q2 FY25 earnings call →
- Q4 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
- Q4 FY23 earnings call →
- Q3 FY23 earnings call →
- Q2 FY23 earnings call →
- Q1 FY23 earnings call →
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