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R Systems International Ltd.

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rsystems.comBSE: 532735NSE: RSYSTEMS
Market Cap₹ 3,029 Cr.
Current Price
High / Low₹ 473 / 214
Stock P/E13.8
Book Value₹ 79
Price to Book7.47
Dividend Yield2.35 %
ROCE37.7 %
ROE39.7 %
Face Value₹ 1

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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 has a healthy return on capital (ROCE) of 41.1%
  • Company has a good return on equity (ROE) track record: 3 Years ROE 36.7%
  • Company has been maintaining a healthy dividend payout of 31.9%
  • Company comfortably covers its interest (21.1x coverage)
  • Stock looks reasonably valued - P/E of 13.8 is below its historical median
  • Company has a consistent dividend-paying track record

CONS

  • Receivables are growing faster than sales - a possible quality concern
  • A large part of profit comes from other income (39.3% of PBT)
  • Total debt has risen sharply - up 3968.5% year on year
  • Stock is trading at 7.5x its book value

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

Peer comparison

Information TechnologyITIT - Software
Part ofNIFTY 50NIFTY 500NIFTY LARGEMIDCAP 250NIFTY 100NIFTY 200
S.No.Name
1.TCS2300.9016.72832485.764.7813420.004.6972275.0013.9366.2525.67
2.INFY1130.0015.14458580.274.257775.0012.2948211.0014.0342.8423.66
3.HCLTECH1294.0020.15351148.264.174626.0020.3434579.0013.9431.2019.87
4.WIPRO176.8013.25175109.016.223356.300.5924478.6010.5918.4918.93
5.TECHM1592.0030.38156037.293.201486.3031.6715711.9017.6823.0417.43
6.LTM4550.0025.80134962.701.651468.6017.0611608.0017.9630.2517.75
7.OFSS12067.3530.79105086.263.311415.50120.523125.2068.7345.5060.04
8.PERSISTENT5655.0046.3889207.620.71483.0413.674303.2329.0935.0916.19
9.COFORGE1967.4549.6187153.720.80531.7049.195527.7049.8624.7019.14
10.MPHASIS2425.3524.2346294.462.56489.5110.824384.0517.4623.3118.15
11.LTTS3492.4528.0737047.051.663571.001029.7129401.001014.7327.7018.65
12.RSYSTEMS255.6015.713028.762.3555.57-26.74601.7030.2330.9918.39
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
229243207209226235242277259288310320343
186189171176182186198218212228244245292
Operating Profit43543633444943594760667550
OPM %18.89%22.28%17.56%15.71%19.65%20.88%18.00%21.35%18.00%20.74%21.32%23.49%14.67%
6313112111634857-22261
Interest2233212124799
Depreciation6666665115661314
Profit before Tax994631355843525087107317951
Tax %29.92%25.71%-21.15%10.97%29.44%15.42%23.98%30.66%22.31%12.09%17.25%20.24%30.46%
Net Profit69343732413640346894266336
5.862.913.132.673.473.063.362.915.737.972.205.313.02

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Dec 2023Dec 2024Dec 2025TTM
9049111,1011,260
7247388751,009
Operating Profit180173226251
OPM %19.88%18.98%20.56%19.93%
71468363
Interest881428
Depreciation24232240
Profit before Tax218189274269
Tax %20.50%21.27%18.57%18.60%
Net Profit173149223219
EPS14.6612.5618.82—
Dividend Payout %46.38%99.55%31.87%—

COMPOUNDED SALES GROWTH

10 Years:
—
5 Years:
—
3 Years:
—

COMPOUNDED PROFIT GROWTH

10 Years:
—
5 Years:
—
3 Years:
—

STOCK PRICE CAGR

10 Years:
17%
5 Years:
5%
3 Years:
-20%
1 Year:
-44%

RETURN ON EQUITY

10 Years:
—
5 Years:
32%
3 Years:
37%
Last Year:
40%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

2026

Mar 12

₹ 6

Rs.6.0000 per share(600%)Interim Dividend

2025

May 14

₹ 6

Rs.6.0000 per share(600%)Interim Dividend

2024

Nov 19

₹ 6.50

Interim Dividend

2024

Mar 28

₹ 6

Interim Dividend

2023

Dec 22

₹ 6.80

Interim Dividend

2022

Jun 14

₹ 6.50

Rs.6.5000 per share(650%)Interim Dividend

2021

Nov 11

₹ 3.20

Second Interim Dividend

2021

Jun 25

₹ 2.50

Interim Dividend

2018

May 22

₹ 0.60

2015

Nov 5

₹ 0.25

Third Interim Dividend

2015

Aug 11

₹ 3.30

Rs.3.3000 per share (330%) Second Interim Dividend

2015

Aug 10

₹ 3.30

21/08/2015 Equity Rs.3.3000 per share(330%)Second Interim Dividend

Dec 2023Dec 2024Dec 2025
Equity Capital121212
471471628
11461377
Trade Payables111023
177153195
Total Liabilities7847071,235
9372106
373374775
103110197
Cash & Bank1133956
102113101
Total Assets7847071,235

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Dec 2023Dec 2024Dec 2025
177166138
Cash from Investing-20859-339
Cash from Financing-32-206218
-631918

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Dec 2019Dec 2021Dec 2023Dec 2024Dec 2025
PER SHARE
EPS (₹)4.319.7814.6612.5618.82
Book Value (₹)22.9529.9240.8140.8554.03
Dividend per Share (₹)1.505.706.8012.506.00
Cash EPS (₹)5.0211.0216.6914.4720.71
PROFITABILITY
Operating Margin %14.68%18.64%19.88%18.98%20.56%
Net Margin %13.14%20.04%19.19%16.30%20.25%
ROE %18.94%33.22%39.74%30.75%39.69%
ROCE %23.09%39.81%48.51%37.01%37.66%
14.92%25.25%26.07%19.92%22.95%
EFFICIENCY
Debtor Days5647454351
Inventory Days00000
Payable Days00000
5647454351
FINANCIAL HEALTH
Debt to Equity (x)0.02x0.00x0.12x0.02x0.49x
Interest Coverage (x)149.26x36.52x27.88x25.31x21.11x
2.89x4.11x1.25x1.75x1.68x
GROWTH
Revenue Growth %23.50%31.63%11.06%0.84%20.78%
Operating Profit Growth %50.12%56.33%58.52%-12.45%52.34%
Net Profit Growth %66.04%66.05%53.90%-14.36%50.03%
71.11%67.92%53.89%-14.36%49.91%
VALUATION
P/E (x)16.26x33.17x37.43x37.04x21.44x
P/B (x)3.05x10.85x13.45x11.38x7.47x
Dividend Yield %2.14%1.76%1.24%2.69%1.49%
10.79x24.32x25.71x24.96x15.09x

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
51.9351.9351.9351.9051.8951.8951.8851.8551.85
0.600.433.993.963.573.603.553.763.82
1.101.727.448.668.838.959.418.606.53
Government0.000.000.000.000.000.000.000.000.00
46.3845.9336.6435.4835.7135.5735.1535.7937.80

Documents

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

2026-08-24
Resignation of Director/KMP/SMP

2026-08-24 - R Systems International Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-24
Cessation

2026-08-24 - R Systems International Limited has informed the Exchange regarding Cessation of Mr Piyush Jain as Company Secretary & Compliance Officer of the company with effect from the closing hours on August 24, 2026.

2026-08-18
Allotment of Securities

2026-08-18 - The Nomination, Remuneration and Compensation Committee of the Board of Directors of R Systems International Limited (the Company ), by way of resolution passed through circulation on August 18, 2026, has approved the allotment of 3,270 equity shares of face value INR 1/- each upon exercise of 3,270 Restricted Stock Units ( RSUs ) under Company s Management Incentive Plan 2023.

2026-08-12
Copy of Newspaper Publication

2026-08-12 - R Systems International Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-11
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-11 - R Systems International Limited has informed the Exchange about Transcript of the Investors/ Analysts Call held on August 05, 2026.

2026-08-11
Shareholders meeting

2026-08-11 - R Systems International Limited has informed the Exchange regarding Notice of Postal Ballot

2026-08-07
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-07 - R Systems International Limited has informed the Exchange about Schedule of meet

2026-08-06
Copy of Newspaper Publication

2026-08-06 - Copy of Newspaper Publication published in Business Standard (English) all editionsand Business Standard (Hindi), New Delhi edition on August 06, 2026

2026-08-05
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-05 - R Systems International Limited has informed the Exchange about Link of Recording

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