RS Software (India) Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Software Development: 71.9% • Transaction Fee: 25.6% • AMCs: 2.5%
AI Sector View
AI GENERATEDInformation Technology
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.
PROS
- Working capital cycle has improved - days down from 243 to 44
- Company maintains a comfortable, low leverage position
CONS
- Company is loss-making at the operating / net level
- Operating cash flow has been negative in recent years
- Receivables are growing faster than sales - a possible quality concern
- Interest coverage is weak at -27.8x - earnings barely cover interest
- Company has a low return on capital employed of -1.2%
- Company has a low return on equity of -2.1% over last 3 years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TCS | 2312.00 | 16.80 | 836501.83 | 4.76 | 13420.00 | 4.69 | 72275.00 | 13.93 | 66.25 | 25.67 |
| INFY | 1128.00 | 15.11 | 457768.62 | 4.26 | 7775.00 | 12.29 | 48211.00 | 14.03 | 42.84 | 23.66 |
| HCLTECH | 1310.25 | 20.41 | 355557.97 | 4.12 | 4626.00 | 20.34 | 34579.00 | 13.94 | 31.20 | 19.87 |
| WIPRO | 176.60 | 13.23 | 174910.92 | 6.23 | 3356.30 | 0.59 | 24478.60 | 10.59 | 18.49 | 18.93 |
| TECHM | 1597.00 | 30.48 | 156527.36 | 3.19 | 1486.30 | 31.67 | 15711.90 | 17.68 | 23.04 | 17.43 |
| LTM | 4516.00 | 25.61 | 133954.19 | 1.66 | 1468.60 | 17.06 | 11608.00 | 17.96 | 30.25 | 17.75 |
| OFSS | 12050.00 | 30.75 | 104935.17 | 3.32 | 1415.50 | 120.52 | 3125.20 | 68.73 | 45.50 | 60.04 |
| PERSISTENT | 5624.00 | 46.13 | 88718.60 | 0.71 | 483.04 | 13.67 | 4303.23 | 29.09 | 35.09 | 16.19 |
| COFORGE | 1963.70 | 49.51 | 86987.61 | 0.80 | 531.70 | 49.19 | 5527.70 | 49.86 | 24.70 | 19.14 |
| MPHASIS | 2457.05 | 24.55 | 46899.54 | 2.52 | 489.51 | 10.82 | 4384.05 | 17.46 | 23.31 | 18.15 |
| LTTS | 3498.50 | 28.11 | 37111.23 | 1.66 | 3571.00 | 1029.71 | 29401.00 | 1014.73 | 27.70 | 18.65 |
| RSSOFTWARE | 29.74 | 0.00 | 76.82 | 0.00 | -7.48 | -107.37 | 5.88 | -24.26 | -63.54 | -73.80 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 11 | 11 | 19 | 18 | 19 | 17 | 13 | 9 | 8 | 6 | 5 | 6 | 6 | |
| 8 | 9 | 12 | 12 | 14 | 11 | 12 | 10 | 10 | 10 | 11 | 18 | 13 | |
| Operating Profit | 3 | 2 | 7 | 6 | 4 | 6 | 0 | -1 | -2 | -4 | -6 | -12 | -8 |
| OPM % | 28.52% | 14.53% | 36.74% | 34.94% | 23.95% | 37.15% | 3.79% | -12.90% | -24.84% | -68.53% | -112.15% | -196.64% | -128.38% |
| 0 | 2 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 2 | 1 | 3 |
| Profit before Tax | 2 | 3 | 6 | 8 | 3 | 5 | 0 | -2 | -3 | -5 | -8 | -13 | -8 |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 12.21% | -7.72% | 0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% |
| Net Profit | 2 | 3 | 6 | 8 | 3 | 6 | 0 | -2 | -3 | -5 | -8 | -13 | -8 |
| 0.90 | 1.08 | 2.47 | 2.98 | 1.18 | 2.28 | 0.02 | -0.77 | -1.20 | -2.08 | -3.12 | -4.98 | -2.92 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 71 | 57 | 61 | 60 | 35 | 28 | 30 | 60 | 57 | 25 | 23 | |
| 106 | 101 | 94 | 107 | 48 | 38 | 32 | 41 | 47 | 49 | 53 | |
| Operating Profit | -35 | -43 | -33 | -47 | -12 | -10 | -2 | 18 | 10 | -24 | -29 |
| OPM % | -49.31% | -75.29% | -53.77% | -78.73% | -34.95% | -36.42% | -6.39% | 30.67% | 17.62% | -94.08% | -126.49% |
| 12 | 9 | 6 | 16 | 2 | 6 | 1 | 5 | 1 | 0 | 0 | |
| Interest | 0 | 0 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 1 | 1 |
| Depreciation | 4 | 2 | 2 | 3 | 4 | 3 | 3 | 4 | 4 | 6 | 7 |
| Profit before Tax | -27 | -37 | -30 | -35 | -14 | -8 | -4 | 19 | 7 | -30 | -34 |
| Tax % | 36.34% | 30.44% | 19.87% | -77.38% | -0.00% | -49.30% | -0.00% | 0.00% | 0.00% | -0.00% | -0.00% |
| Net Profit | -17 | -26 | -24 | -63 | -14 | -11 | -4 | 19 | 7 | -30 | -34 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | -5.63 | -4.85 | -1.61 | 7.39 | 2.76 | -11.59 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 9.04% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -17%
- 5 Years:
- -7%
- 3 Years:
- -6%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- -9%
- 5 Years:
- -3%
- 3 Years:
- -16%
- 1 Year:
- -60%
RETURN ON EQUITY
- 10 Years:
- -14%
- 5 Years:
- -6%
- 3 Years:
- -2%
- Last Year:
- -44%
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 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
| 188 | 162 | 139 | 75 | 61 | 48 | 43 | 62 | 69 | 40 | |
| 1 | 8 | 9 | 9 | 15 | 7 | 8 | 2 | 1 | 20 | |
| Trade Payables | 7 | 9 | 4 | 3 | 2 | 1 | 2 | 3 | 1 | 1 |
| -3 | -16 | -18 | 6 | 5 | 6 | 8 | 14 | 12 | 9 | |
| Total Liabilities | 206 | 176 | 146 | 106 | 95 | 75 | 74 | 93 | 96 | 83 |
| 8 | 7 | 6 | 15 | 11 | 7 | 8 | 6 | 10 | 32 | |
| 108 | 89 | 63 | 42 | 35 | 40 | 33 | 32 | 32 | 32 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11 | 5 | 8 | |
| Cash & Bank | 21 | 25 | 10 | 12 | 10 | 10 | 7 | 19 | 16 | 2 |
| 69 | 55 | 67 | 37 | 39 | 18 | 26 | 26 | 33 | 10 | |
| Total Assets | 206 | 176 | 146 | 106 | 95 | 75 | 74 | 93 | 96 | 83 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -44 | -25 | -39 | -25 | -10 | 11 | -9 | 12 | 4 | -8 | |
| Cash from Investing | -22 | 29 | 25 | 27 | 9 | -4 | 7 | -0 | -8 | -10 |
| Cash from Financing | -3 | -0 | -0 | -0 | -0 | -8 | -0 | 0 | -0 | 5 |
| -69 | 4 | -15 | 1 | -1 | -0 | -3 | 12 | -4 | -14 |
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 (₹) | -6.57 | -10.01 | -9.29 | -24.38 | -5.63 | -4.42 | -1.58 | 7.39 | 2.76 | -11.59 |
| Book Value (₹) | 78.19 | 68.20 | 58.99 | 34.34 | 28.63 | 23.67 | 21.74 | 29.12 | 31.69 | 20.44 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.25 | 0.00 |
| Cash EPS (₹) | -5.03 | -9.20 | -8.43 | -23.20 | -4.15 | -3.18 | -0.40 | 8.81 | 4.14 | -9.44 |
| PROFITABILITY | ||||||||||
| Operating Margin % | -31.67% | -60.37% | -44.32% | -52.44% | -28.68% | -15.83% | -2.26% | 30.67% | 17.62% | -94.08% |
| Net Margin % | -23.88% | -44.83% | -39.11% | -104.54% | -40.91% | -41.32% | -13.50% | 31.90% | 12.46% | -119.05% |
| ROE % | -8.11% | -13.67% | -14.60% | -52.25% | -17.88% | -16.91% | -6.97% | 29.05% | 9.11% | -44.45% |
| ROCE % | -12.63% | -19.06% | -17.04% | -26.80% | -15.01% | -9.64% | -5.79% | 28.23% | 9.40% | -41.22% |
| -7.59% | -13.47% | -14.80% | -49.64% | -14.35% | -13.31% | -5.45% | 22.71% | 7.55% | -33.46% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 92 | 90 | 48 | 36 | 82 | 94 | 29 | 37 | 51 | 95 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable Days | 418 | 3185 | 316 | 593 | 493 | 387 | 974 | 0 | 0 | 0 |
| -326 | -3096 | -268 | -557 | -410 | -293 | -946 | 37 | 51 | 95 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.01x | 0.04x | 0.06x | 0.10x | 0.21x | 0.11x | 0.10x | 0.00x | 0.00x | 0.10x |
| Interest Coverage (x) | -158.98x | -144.69x | -54.75x | -39.91x | -26.92x | -105.33x | -11.11x | 79.16x | 32.78x | -27.83x |
| 13.92x | 5.79x | 3.94x | 3.55x | 3.47x | 2.35x | 2.06x | 3.14x | 4.31x | 1.21x | |
| GROWTH | ||||||||||
| Revenue Growth % | -58.75% | -18.83% | 6.36% | -1.77% | -41.00% | -22.24% | 9.50% | 97.64% | -3.73% | -56.14% |
| Operating Profit Growth % | -238.91% | -54.72% | 21.93% | -16.23% | 67.73% | 57.08% | 84.34% | 3456.24% | -52.32% | -313.84% |
| Net Profit Growth % | -312.36% | -52.38% | 7.21% | -162.54% | 76.91% | 21.46% | 64.21% | 566.89% | -62.40% | -519.14% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 566.90% | -62.58% | -519.13% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 26.05x | 24.72x | 0.00x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 6.61x | 2.16x | 1.08x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.37% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 20.77x | 14.74x | -2.59x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-07-27 - R. S. Software (India) Limited has informed the Exchange regarding ''.Machine Readable Document
2026-07-24 - R. S. Software (India) Limited has informed the Exchange about Scrutinizer's Report and Shareholders meeting
2026-07-23 - R. S. Software (India) Limited has informed the Exchange about Copy of Newspaper Publication /Paper cutting of advertisement of the Audited Financial Results for the quarter ending June 30, 2026, approved by the Board of Directors of the Company at the meeting held on 22nd July 2026..
2026-07-22 - R. S. Software (India) Limited has informed the Exchange regarding Corrigendum to Other
2026-07-22 - R. S. Software (India) Limited has informed the Exchange regarding Change in Auditors of the company.
2026-07-22 - R. S. Software (India) Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-22 - R. S. Software (India) Limited has informed the Exchange regarding Corrigendum published in the News Papers rectifying a few printing errors in the Company s Annual Report 2025-2026.
2026-07-02 - R. S. Software (India) Limited has submitted the Exchange Copy of paper cuttings of Newspaper Publications after completion of despatch of ;Notice to Members and Annual Report 2026' under Regulation 47 of SEBI (LODR) Regulations, 2015
2026-06-25 - R. S. Software (India) Limited has informed the Exchange about Copy of Newspaper Publication on opening of Special Window for re-lodgment of transfer requests for physical shares
News
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