R Systems International Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹2,985 Cr
- P/E
- 14.17
- ROE
- 24.44%
- PEG
- 1.90
- Price to sales
- 1.33
- Debt to equity
- 0.34
- 52W high / low
- ₹432 / ₹220
- Sales growth (5Y)
- 17.33%
- EBITDA margin
- 17.04%
- Net profit margin
- 8.84%
- Promoter holding
- 51.85%
- Sales (last year)
- ₹2,230 Cr
R Systems is a leading provider of technology, artificial intelligence, analytics and knowledge services. It partners with customers to enable or elevate their digital transformation with diversified digital offerings including product engineering, cloud enablement, quality assurance testing and digital platforms and solutions. [1][2]
Guidance scorecard · Q1 FY27 call
What R Systems International Ltd's management guided
and where it ranks in IT - Services
IT - Services
RevenueQ1 FY27 call
10–20%- Signs of accelerating revenue and margin velocity observed, driven by faster market adoption of AI-first delivery methods.
- Expected positive uplift in revenue and margin per employee attributed to AI-led delivery and increased market traction.
- Pipeline quality has improved with better deal sizes and customer engagement, supporting future revenue growth.
- ACV growth expected to translate into better revenue traction, with wins in earlier periods contributing to subsequent revenue.
- Continued focus on AI-led transformation services and AI-based innovation positioning the company well for growth.
- Market uncertainty acknowledged, but confident in strategy and market reception to sustain growth momentum.
- Incremental investment in sales and marketing aimed at expanding market reach and accelerating deal conversions.
2 more points from R Systems International Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what R Systems International Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- R Systems International Limited is focused on strategic investments primarily in AI capabilities and market positioning.
- The company emphasizes deepening domain expertise and technical footprint within go-to-market and solutioning teams.
- Continued investments are being made in AI-led delivery methodologies, branding (e.g., EXIQO AI Studio), sales and marketing efforts to capture AI-led growth.
- They are also actively enhancing ecosystem partnerships with startups and technology companies for innovation and differentiation.
- While R Systems remains open to inorganic opportunities (acquisitions) that are differentiated and margin-accretive, such opportunities are rare and pursued cautiously.
2 more points from R Systems International Ltd's call on capex
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FundraisingQ1 FY27 call
See what R Systems International Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Pipeline buildup is happening with improved quality and better market positioning.
- The pipeline includes larger average deal sizes and more AI-led transformation projects.
- There is optimism about converting pipeline into revenue, leading to better revenue traction.
- Current trailing 12-month deal wins remain consistent or slightly better than before.
- The company reports large deal wins in recent quarters compensating for seasonal fluctuations.
2 more points from R Systems International Ltd'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 R Systems International Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of R Systems International Ltd
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 + | 404 | 407 | 457 | 416 | 417 | 432 | 444 | 449 | 442 | 462 | 499 | 555 | 575 |
| Expenses + | 350 | 354 | 375 | 354 | 363 | 371 | 376 | 378 | 372 | 392 | 427 | 462 | 474 |
| Operating Profit | 54 | 53 | 82 | 63 | 54 | 61 | 68 | 71 | 71 | 70 | 72 | 94 | 101 |
| OPM % | 13% | 13% | 18% | 15% | 13% | 14% | 15% | 16% | 16% | 15% | 14% | 17% | 18% |
| Other Income + | 5 | 4 | 0 | 2 | 2 | 4 | 2 | 4 | 2 | 47 | 2 | -22 | 20 |
| Interest | 2 | 2 | 3 | 3 | 3 | 2 | 2 | 2 | 1 | 2 | 4 | 7 | 10 |
| Depreciation | 10 | 10 | 17 | 17 | 17 | 17 | 17 | 16 | 15 | 16 | 17 | 19 | 22 |
| Profit before tax | 48 | 46 | 62 | 44 | 36 | 47 | 52 | 57 | 57 | 99 | 53 | 46 | 90 |
| Tax % | 25% | 68% | 29% | -3% | 24% | 47% | 23% | 31% | 32% | 24% | 34% | 20% | 27% |
| Net Profit + | 36 | 14 | 44 | 46 | 27 | 25 | 40 | 39 | 39 | 76 | 35 | 36 | 65 |
| EPS in Rs | 3.03 | 1.22 | 3.72 | 3.88 | 2.32 | 2.10 | 3.37 | 3.30 | 3.26 | 6.41 | 2.98 | 3.08 | 5.52 |
Financials of R Systems International Ltd
Profit & Loss
Annual income statement trend
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Mar 2020 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 605 | 588 | 593 | 700 | 809 | 809 | 881 | 1,156 | 1,516 | 1,685 | 1,742 | 1,958 | 2,091 |
| Expenses + | 533 | 518 | 560 | 643 | 736 | 736 | 764 | 995 | 1,316 | 1,432 | 1,485 | 1,652 | 1,754 |
| Operating Profit | 73 | 71 | 33 | 57 | 73 | 73 | 116 | 161 | 200 | 252 | 257 | 307 | 336 |
| OPM % | 12% | 12% | 6% | 8% | 9% | 9% | 13% | 14% | 13% | 15% | 15% | 16% | 16% |
| Other Income + | 70 | 17 | 16 | 19 | 15 | 15 | 11 | 42 | 10 | 11 | 8 | 29 | 47 |
| Interest | 1 | 1 | 0 | 0 | 2 | 2 | 6 | 5 | 5 | 9 | 8 | 14 | 22 |
| Depreciation | 14 | 12 | 13 | 14 | 15 | 15 | 26 | 28 | 35 | 54 | 65 | 66 | 73 |
| Profit before tax | 128 | 76 | 35 | 63 | 72 | 72 | 96 | 170 | 170 | 200 | 192 | 255 | 288 |
| Tax % | 23% | 29% | 36% | 19% | 19% | 19% | 15% | 17% | 18% | 30% | 32% | 27% | |
| Net Profit + | 98 | 54 | 23 | 51 | 58 | 58 | 82 | 141 | 140 | 140 | 131 | 186 | 213 |
| EPS in Rs | 7.71 | 4.33 | 1.82 | 4.12 | 4.83 | 4.86 | 6.84 | 11.96 | 11.81 | 11.84 | 11.09 | 15.73 | 17.99 |
| Dividend Payout % | 51% | 0% | 0% | 14% | 31% | 0% | 0% | 48% | 55% | 57% | 113% | 0% |
Financials of R Systems International Ltd
Balance Sheet
Capital structure and asset base
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Mar 2020 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 13 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| Reserves | 230 | 266 | 259 | 311 | 326 | 326 | 415 | 448 | 534 | 600 | 612 | 780 |
| Borrowings + | 1 | 2 | 2 | 2 | 6 | 5 | 23 | 1 | 77 | 131 | 73 | 410 |
| Other Liabilities + | 111 | 103 | 119 | 119 | 148 | 149 | 200 | 231 | 210 | 572 | 519 | 901 |
| Total Liabilities | 356 | 383 | 392 | 443 | 493 | 493 | 650 | 692 | 833 | 1,315 | 1,216 | 2,102 |
| Fixed Assets + | 80 | 80 | 46 | 45 | 72 | 72 | 111 | 127 | 156 | 627 | 571 | 1,125 |
| CWIP | 0 | 3 | 0 | 2 | 2 | 2 | 0 | 0 | 3 | 0 | 4 | 0 |
| Investments | 41 | 26 | 22 | 20 | 34 | 34 | 13 | 13 | 14 | 0 | 0 | 0 |
| Other Assets + | 235 | 274 | 323 | 377 | 384 | 385 | 526 | 552 | 661 | 688 | 641 | 977 |
| Total Assets | 356 | 383 | 392 | 443 | 493 | 493 | 650 | 692 | 833 | 1,315 | 1,216 | 2,102 |
Financials of R Systems International Ltd
Cash Flows
Operating, investing and financing cash movement
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Mar 2020 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 45 | 44 | 37 | 31 | 64 | 125 | 87 | 96 | 211 | 235 | 220 | |
| Cash from Investing Activity + | 41 | 11 | -58 | -31 | 8 | -32 | 19 | -8 | -219 | 14 | -326 | |
| Cash from Financing Activity + | -113 | -19 | -1 | -9 | -46 | 10 | -116 | -86 | -41 | -216 | 209 | |
| Net Cash Flow | -27 | 35 | -22 | -9 | 26 | 103 | -9 | 2 | -49 | 33 | 103 | |
| Free Cash Flow | 29 | 30 | -29 | -15 | 46 | 108 | 60 | 61 | 193 | 224 | 213 | |
| CFO/OP | 111% | 93% | 159% | 78% | 106% | 126% | 72% | 68% | 105% | 116% | 98% |
Financials of R Systems International Ltd
Ratios
Working capital efficiency and return ratios
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Mar 2020 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 63 | 67 | 74 | 71 | 60 | 60 | 54 | 56 | 62 | 54 | 54 | 77 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 63 | 67 | 74 | 71 | 60 | 60 | 54 | 56 | 62 | 54 | 54 | 77 |
| Working Capital Days | 22 | 32 | 26 | 55 | 38 | 54 | 40 | 41 | 45 | 1 | 27 | 21 |
| ROCE % | 30% | 27% | 13% | 21% | 22% | 22% | 26% | 38% | 32% | 26% | 21% | 23% |
Guidance history
How R Systems International Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | — | Rising |
| Q4 FY26 call → | 10–20% | Flat | — | — | Rising |
| Q3 FY26 call → | 10–20% | Flat | Planned | — | Rising |
| Q2 FY26 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
17 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 | −39.1% | 12% |
| Last 6 months | −4.1% | 47% |
| Last 3 months | −4.2% | 55% |
The price is 56% below its all-time high of ₹573.3 (22 Dec 2023). Stocks more than 20% below their peak have their score halved, so 35 became 17.
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 R Systems International Ltd: 0.4 × 12 + 0.4 × 47 + 0.2 × 55 = 35, halved to 17 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 R Systems International Ltd's management said in earlier quarters
- Q2 FY26 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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