Expleo Solutions Ltd.

•

expleosolutions.comBSE: 533121NSE: EXPLEOSOL

Market Cap₹ 1,400 Cr.

Current Price

High / Low₹ 1,175 / 640

Stock P/E12.2

Book Value₹ 449

Price to Book1.51

Dividend Yield12.19 %

ROCE22.0 %

ROE16.3 %

Face Value₹ 10

Add ratio to table

ABOUT

AI Sector View

AI GENERATED

Information Technology

Buy

IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.

Confidence

68%

View full sector analysis →

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 22.5%
Latest quarter profit grew 97.3% YoY, showing strong momentum
Company has delivered good sales growth of 25.6% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.21x)

CONS

Working capital days have increased from 163 to 220 days
Operating margins have contracted to 15.7% from 22.5%
Recurring exceptional / one-off items are inflating headline profit
Dividend payout exceeds earnings (170.4%) - may be unsustainable
Growth is decelerating - 3Y profit CAGR (-6.7%) trails the 5Y trend (17.2%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Information TechnologyITIT - Software

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	TCS	2300.90	16.72	832485.76	4.78	13420.00	4.69	72275.00	13.93	66.25	25.67
2.	INFY	1130.00	15.14	458580.27	4.25	7775.00	12.29	48211.00	14.03	42.84	23.66
3.	HCLTECH	1294.00	20.15	351148.26	4.17	4626.00	20.34	34579.00	13.94	31.20	19.87
4.	WIPRO	176.80	13.25	175109.01	6.22	3356.30	0.59	24478.60	10.59	18.49	18.93
5.	TECHM	1592.00	30.38	156037.29	3.20	1486.30	31.67	15711.90	17.68	23.04	17.43
6.	LTM	4550.00	25.80	134962.70	1.65	1468.60	17.06	11608.00	17.96	30.25	17.75
7.	OFSS	12067.35	30.79	105086.26	3.31	1415.50	120.52	3125.20	68.73	45.50	60.04
8.	PERSISTENT	5655.00	46.38	89207.62	0.71	483.04	13.67	4303.23	29.09	35.09	16.19
9.	COFORGE	1967.45	49.61	87153.72	0.80	531.70	49.19	5527.70	49.86	24.70	19.14
10.	MPHASIS	2425.35	24.23	46294.46	2.56	489.51	10.82	4384.05	17.46	23.31	18.15
11.	LTTS	3492.45	28.07	37047.05	1.66	3571.00	1029.71	29401.00	1014.73	27.70	18.65
12.	EXPLEOSOL	902.35	10.17	1400.42	12.19	34.18	67.34	291.55	12.29	23.34	14.53

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	225	234	250	255	252	259	258	256	221	237	234	247	256
	194	202	213	223	217	220	222	220	197	197	194	208	223
Operating Profit	31	33	37	32	35	39	35	36	25	41	40	38	33
OPM %	13.95%	13.91%	14.68%	12.57%	14.01%	15.09%	13.69%	14.05%	11.13%	17.14%	17.29%	15.56%	12.96%
	1	1	9	1	1	9	2	13	5	11	-9	12	5
Interest	1	1	1	1	1	1	1	1	1	1	0	1	1
Depreciation	8	8	8	9	9	9	12	8	7	7	7	6	4
Profit before Tax	24	25	36	23	27	37	24	40	21	44	24	44	38
Tax %	21.83%	23.53%	16.55%	42.13%	23.26%	21.65%	30.83%	27.18%	29.93%	22.80%	33.18%	19.08%	23.38%
Net Profit	18	19	30	13	20	29	17	29	15	34	16	36	29
	11.88	12.15	19.55	8.68	13.16	18.88	10.78	18.61	9.52	21.64	10.34	23.06	18.78

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	260	271	283	270	301	743	903	965	1,025	939	973
	221	236	235	221	236	622	709	825	875	791	821
Operating Profit	39	36	48	50	64	120	194	140	150	148	153
OPM %	14.98%	13.10%	16.98%	18.39%	21.40%	16.22%	21.52%	14.51%	14.63%	15.72%	15.68%
	1	13	6	6	5	5	9	3	20	15	19
Interest	0	0	0	1	1	1	2	3	3	2	3
Depreciation	5	6	5	6	6	19	27	33	39	28	24
Profit before Tax	35	43	48	49	63	105	174	108	128	133	150
Tax %	35.21%	34.83%	34.54%	28.29%	27.60%	39.56%	28.97%	24.82%	25.44%	24.57%	23.52%
Net Profit	22	28	31	35	45	64	123	81	95	100	115
EPS	20.92	0.00	0.00	0.00	44.14	40.98	79.42	52.26	61.43	64.56	—
Dividend Payout %	114.50%	91.78%	0.00%	0.00%	0.00%	0.00%	6.30%	0.00%	81.39%	170.39%	—

COMPOUNDED SALES GROWTH

10 Years:: 14%
5 Years:: 26%
3 Years:: 1%

COMPOUNDED PROFIT GROWTH

10 Years:: 12%
5 Years:: 17%
3 Years:: -7%

STOCK PRICE CAGR

10 Years:: —
5 Years:: -3%
3 Years:: -14%
1 Year:: -13%

RETURN ON EQUITY

10 Years:: 25%
5 Years:: 21%
3 Years:: 16%
Last Year:: 16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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	10	10	16	16	16	16	16
	93	91	96	105	150	333	458	529	547	652
	0	0	0	7	5	11	22	39	37	5
Trade Payables	11	12	18	30	23	74	43	34	38	43
	30	39	31	31	39	104	96	75	75	71
Total Liabilities	144	152	156	182	227	537	635	692	712	787
	27	22	19	26	25	108	140	130	112	72
Capital Work in Progress	0	0	0	0	0	6	6	5	0	0
	4	4	4	4	4	4	4	19	3	6
	0	0	0	0	0	2	0	0	0	0
	0	0	0	0	0	0	0	290	262	239
Cash & Bank	30	56	84	70	101	143	133	133	205	345
	84	70	49	82	97	273	352	115	129	125
Total Assets	144	152	156	182	227	537	635	692	712	787

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	27	69	77	26	56	45	80	46	135	153
Cash from Investing	-12	-18	24	-8	-28	3	-36	-35	19	-8
Cash from Financing	-31	-31	-26	-29	-3	-10	-7	-15	-87	-9
	-29	6	53	-23	6	12	-6	-4	67	135

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	20.96	26.15	29.35	34.09	44.14	40.98	79.42	52.26	61.43	64.56
Book Value (₹)	97.25	94.55	99.65	112.29	155.90	224.37	304.80	351.15	362.20	430.28
Dividend per Share (₹)	24.00	24.00	0.00	0.00	0.00	0.00	5.00	0.00	50.00	110.00
Cash EPS (₹)	25.81	31.32	34.46	39.75	49.78	53.06	96.99	73.54	86.33	82.29
PROFITABILITY
Operating Margin %	15.36%	17.74%	18.94%	20.59%	23.05%	16.86%	22.48%	14.51%	14.63%	15.72%
Net Margin %	8.61%	10.33%	11.12%	12.93%	15.04%	8.57%	13.65%	8.41%	9.30%	10.67%
ROE %	23.45%	27.31%	30.23%	31.50%	32.92%	25.04%	30.02%	15.93%	17.22%	16.29%
ROCE %	36.35%	42.15%	46.18%	44.88%	46.19%	41.83%	42.74%	21.69%	23.70%	21.96%
	14.91%	18.90%	20.40%	20.66%	22.15%	16.66%	21.03%	12.22%	13.58%	13.37%
EFFICIENCY
Debtor Days	76	88	56	64	83	61	80	97	98	97
Inventory Days	0	0	0	0	0	1	0	0	0	0
Payable Days	0	0	0	0	0	2707	2984	2868	1745	1086
	76	88	56	64	83	-2645	-2903	-2771	-1647	-989
FINANCIAL HEALTH
Debt to Equity (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Interest Coverage (x)	177.27x	150.73x	717.82x	44.98x	60.19x	87.82x	77.92x	42.55x	39.49x	60.43x
	2.61x	2.33x	2.45x	2.36x	3.03x	2.34x	3.56x	5.18x	5.07x	6.48x
GROWTH
Revenue Growth %	-1.60%	4.34%	4.25%	-4.44%	11.35%	146.78%	21.65%	6.82%	6.21%	-8.37%
Operating Profit Growth %	-26.27%	20.50%	11.35%	3.87%	24.62%	80.54%	62.21%	-29.33%	11.68%	10.65%
Net Profit Growth %	-29.75%	25.11%	12.25%	11.17%	29.49%	40.54%	93.80%	-34.20%	17.56%	5.08%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-34.20%	17.56%	5.08%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	23.21x	12.97x	10.05x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	3.45x	2.20x	1.51x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	6.28%	16.96%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	12.19x	6.43x	3.73x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	71.05	71.05	71.05	71.05	71.05	71.05	71.05	71.05	71.05
	0.06	0.21	0.49	0.33	0.09	0.13	0.32	0.42	0.13
	1.83	1.78	1.00	0.91	0.84	0.84	0.07	0.01	0.12
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	27.06	26.96	27.46	27.72	28.02	27.99	28.56	28.53	28.70

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-03

Spurt in Volume

2026-09-03 - Significant increase in volume has been observed in Expleo Solutions Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Expleo Solutions Limited has submitted their response.

2026-09-02

Spurt in Volume

2026-09-02 - Significant increase in volume has been observed in Expleo Solutions Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written to the company. The response from the company is awaited.

2026-08-27

Shareholders meeting

2026-08-27 - Expleo Solutions Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 26, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-26

Shareholders meeting

2026-08-26 - Expleo Solutions Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 26, 2026

2026-08-19

Resignation of Director/KMP/SMP

2026-08-19 - Expleo Solutions Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-19

Resignation

2026-08-19 - Expleo Solutions Limited has informed the Exchange regarding Resignation of Mr. Rizwan Shaikhmohammed, KMP and SMP of the company.

2026-08-15

Copy of Newspaper Publication

2026-08-15 - Expleo Solutions Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-14

Investor Presentation

2026-08-14 - Expleo Solutions Limited has informed the Exchange about Investor Presentation

2026-08-14

Press Release

2026-08-14 - Expleo Solutions Limited has informed the Exchange regarding a press release dated August 14, 2026, titled "Q1FY27 Total Income up by 12% Y-o-Y to Rs 2,985 million".

News

Recent coverage and analyst commentary for EXPLEOSOL

Loading news…

🤖

AI Stock Analyst

Expleo Solutions Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account