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Subex Ltd Investor Presentation 2026
62156_rns_2026-05-12_232ae24b-9e24-45ad-81b3-5ed67241c92c.pdf
Investor Presentation
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subex
New Possibilities. New Possible.
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+91 80 3745 1377
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[email protected]
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www.subex.com
May 12, 2026
The Secretary
BSE Limited
Phiroze Jeejeebhoy Towers
Dalal Street,
Mumbai- 400 001
BSE Scrip Code: 532348
The Secretary
National Stock Exchange of India Limited
Exchange Plaza, 5th Floor, Plot no. C/1
G Block, Bandra-Kurla Complex
Bandra (E), Mumbai - 400 051
NSE Symbol: SUBEXLTD
Dear Sir/Madam,
Sub: Subex Limited “The Company”- Investor Presentation for Q4 FY26
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the Investor presentation for Q4 of FY26 for the Earnings Call scheduled to be held on Wednesday, May 13, 2026, at 11:00 A.M. (IST).
Kindly broadcast the same on your website.
Thanking you
Yours faithfully,
For Subex Limited
RAMU
Digitally signed
by RAMU AKKILI
Date: 2026.05.12
19:35:15 +05'30'
RAMU Akkili
Company Secretary & Compliance Officer
Encl: as above
Subex Limited
Regd. Office : Pritech Park – SEZ, Block-09, 4th Floor, B Wing, Survey No.51 to 64/4, Outer Ring Road, Bellandur Village, Varthur Hobli
Bengaluru – 560 103. India | CIN – L85110KA1994PLC016663
subex New Foundations New Favorite
Subex Limited Investor Presentation
12th May 2026
www.subex.com
subex
The Fundamentals of Inland Technology
Agenda
- Financial Updates
- Business Highlights
2
Subex
Subex Exits the Year Stronger - Profitable, AI-Ready, and Built to Win in Telco
"Subex exits the year with a stronger balance sheet, improved profitability profile, sharper market positioning, and a more aligned foundation for long-term AI-led growth. We remain focused on telco, where we are trusted and well known. We continue to invest in our core strengths while expanding with AI-led offerings like FraudZap™. AI adoption is scaling strongly, models in production are 5x since 2023, and our AI customer base is ~4x since I took over. Our direction is clear - double down where we have the right to win."
- Nisha Dutt, MD & CEO Subex
Subex New Foundation, New Products
Quarterly Results – Q4FY26
Revenue in ₹ lakhs
(₹ in Lakhs)
| Q4FY25 | Q3FY26 | Q4FY26 | |
|---|---|---|---|
| Normalised EBITDA* | 526 | 909 | 1,058 |
| Normalised PBT* | 414 | 1,051 | 1,438 |
| Normalised PAT* | 66 | 768 | 1,151 |
| PAT Inc. Exceptional Items & Impairment Allowance | (1,760) | 293 | 993 |
| *Excluding Exceptional Items & Impairment Allowance for Trade Receivables |
Financial Highlights
- Q4FY26 revenue grew by 3% QoQ to ₹7,296 lakhs.
- Normalized EBITDA improved to ₹1,058 lakhs in Q4FY26 as compared to ₹909 lakhs in Q3FY26, reflecting a growth of 16.4%, primarily supported by ongoing operational efficiencies.
- Normalized EBITDA margin stood at 14.5% in Q4FY26 as compared 7.5% in Q4FY25, a growth of 705bps on YoY basis.
- Normalised PBT stood at ₹1,438 lakhs in Q4FY26 as compared to ₹1,051 lakhs in Q3FY26, a growth of 36.8% on QoQ basis.
- Normalised PAT stood at ₹1,151 lakhs in Q4FY26 as compared to ₹768 in Q3FY26 driven purely by operational performance and non operating gains.
Other Information
- As on 31st March, 2026 our cash & cash equivalent stood at ₹17,526 lakhs as compared to ₹15,412 lakhs on 31st December, 2025, reflecting continued liquidity stability.
- The company received a tax refund of ₹417 lakhs in Q4FY26.
- Earning Per share in FY26 stood at ₹0.51 vs (₹0.57) in FY25.
Subex
New Possibilities. New Possible.
Revenue Metrices - Q4FY26
Revenue By Services
- Support and others
- License implementation and Customization
- Managed Service
Revenue By Region
- America
-
India
-
EMEA
- APAC and ROW
6
subex
New Possibilities. How Possible.
Business Highlights - Q4FY26
| G | | ### Regain & Grow
- Won a new logo in North Africa for EAM
- Regained a competitor account for Business Assurance in Middle East
- Won a new deal in North America for Al Handset Fraud solution on FraudZap™ |
| --- | --- | --- |
| E | | - PAT remained positive (normalized) in Q4FY26, supported by improved margins - EBITDA has been positive in 9 out of last 10 quarters, underscoring consistent operational performance
- Cash position continues to remains healthy |
| T | | - Onboarded one Independent Director on the Subex Board - Continue to invest in GenAI based SDLC |
7
subex
New Possibilities. New Possible.
Order Intake Snapshot - Q4FY26
- Won a new deal for Enterprise Asset Management from a leading operator in North Africa
- Won new deal for Al Handset Fraud solution on FraudZap™ in North America
- Regained tier 1 competitor account for Business Assurance in Middle East
- Tier-1 operator in Africa renewed Managed Services with more AI use cases
- Tier 1 operator in Middel East signed an upgrade deal for BAFM with a 5-year AMC
- Won Fraud upgrade deal from tier-1 APAC operator
8
subex
New Foundation, New Possible
The Subex Advantage
01
Strong Tailwinds in AI
- Almost all RFPs ask for AI use cases
- Fraud Management a top AI & GenAI Use Case amongst Telcos
02
Few Players with Data Access
- 150+ customer base with data connectors processing 500bn+ records per day
- High switching costs
03
Telco Domain Expertise
- 30+ years of expertise in telecom and handling Telco data across functions
- Continuous product development with strong R&D spend
04
Geography Focus
- Revenue growth driven by strong presence in emerging markets and increased AI adoption in developed markets
05
Landed and Expanding
- Landed & expanding with AI across clients
06
Strong Annuity Model
- Strong revenue model with ~70% revenue is annuity/recurring nature
- Excellent customer retention of ~95%
subex
New Foundations New Possible.
Global Marquee Customer Base
EMEA
Asia
Americas
150+ Global customers
100+ Countries
subex New Possibilities, New Possible.
Thank You
For Further Information, Please Contact:
Asha Gupta – [email protected]
Pratik Jagtap – [email protected]
Jyoti Gupta – [email protected]
Subex – [email protected]
www.subex.com