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Xchanging Solutions Ltd.

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dxc.comBSE: 532616NSE: XCHANGING
Market Cap₹ 700 Cr.
Current Price
High / Low₹ 103 / 48
Stock P/E19.3
Book Value₹ 28
Price to Book1.75
Dividend Yield3.18 %
ROCE13.6 %
ROE12.4 %
Face Value₹ 10

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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 is almost debt free
  • Company has a healthy return on capital (ROCE) of 52.7%
  • Company has a good return on equity (ROE) track record: 3 Years ROE 47.3%
  • Company has been maintaining a healthy dividend payout of 60.3%
  • Company generates healthy free cash flow
  • Offers a healthy dividend yield of 3.2%

CONS

  • A large part of profit comes from other income (73.6% of PBT)
  • Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.04x)
  • Operating margins have contracted to 26.0% from 51.1%
  • Company has delivered a poor sales growth of 0.0% over past five years

* 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.TCS2202.0016.00796702.875.0013420.004.6972275.0013.9366.2525.67
2.INFY1038.2013.91421325.694.627775.0012.2948211.0014.0342.8423.66
3.HCLTECH1207.0018.80327539.384.474626.0020.3434579.0013.9431.2019.87
4.WIPRO167.5012.55165902.386.573356.300.5924478.6010.5918.4918.93
5.TECHM1539.5029.38150891.593.311486.3031.6715711.9017.6823.0417.43
6.LTM4301.1524.39127581.281.741468.6017.0611608.0017.9630.2517.75
7.OFSS11760.0030.01102409.763.401415.50120.523125.2068.7345.5060.04
8.PERSISTENT5537.4545.4287353.270.72483.0413.674303.2329.0935.0916.19
9.COFORGE1847.4046.5881835.770.86531.7049.195527.7049.8624.7019.14
10.MPHASIS2294.1022.9243790.982.70489.5110.824384.0517.4623.3118.15
11.LTTS3334.9526.8035379.241.743571.001029.7129401.001014.7327.7018.65
12.XCHANGING62.8211.51699.843.1815.129.8053.647.3018.0233.54
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
999119991211121099
6679887889867
Operating Profit3222211333232
OPM %35.36%26.92%20.80%18.37%18.46%12.18%15.64%29.63%29.30%26.59%17.51%30.66%22.09%
186519985443320333
Interest0000000000000
Depreciation0000000000000
Profit before Tax189720197557723566
Tax %10.39%28.43%8.14%25.66%27.84%30.70%-26.87%27.93%28.09%-2.97%29.18%15.68%28.83%
Net Profit170518575365524354
15.230.4616.590.630.460.290.560.450.422.150.310.430.35

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
9956524341443837394140
11352393132282828313030
Operating Profit-144131291610981110
OPM %-14.14%6.33%24.35%27.00%21.50%35.42%26.50%25.03%19.72%26.04%24.22%
111012161589398163030
Interest00000000000
Depreciation31011111000
Profit before Tax-6132426222319407244039
Tax %-7.57%56.71%32.25%13.82%17.97%2.72%21.82%9.95%16.96%8.60%8.21%
Net Profit-761623182215366203736
EPS0.000.000.000.001.631.991.3232.901.763.32—
Dividend Payout %0.00%0.00%0.00%0.00%0.00%0.00%0.00%103.35%227.47%60.26%—

COMPOUNDED SALES GROWTH

10 Years:
—
5 Years:
0%
3 Years:
3%

COMPOUNDED PROFIT GROWTH

10 Years:
—
5 Years:
15%
3 Years:
36%

STOCK PRICE CAGR

10 Years:
0%
5 Years:
-10%
3 Years:
-12%
1 Year:
-30%

RETURN ON EQUITY

10 Years:
18%
5 Years:
31%
3 Years:
47%
Last Year:
12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

2026

Aug 14

₹ 0.20

Rs.2.0000 per share(20%)Final Dividend

2025

Jul 11

₹ 0.20

Rs.2.0000 per share(20%)Final Dividend

2024

Jun 14

₹ 0.40

Rs.4.0000 per share(40%)Final Dividend

2024

Jun 14

₹ 0.20

Rs.2.0000 per share(20%)Special Dividend

2024

Feb 23

₹ 1.50

Rs.15.0000 per share(150%)Interim Dividend

2023

Jul 28

₹ 1.50

Rs.15.0000 per share(150%)Interim Dividend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital111111111111111111111111111111
707693116134156170203178193
1001211100
Trade Payables161486555644
59637174777781119125128
Total Liabilities258265283309330351368440419436
2002222100
1531735252525252525252
0000000463
Cash & Bank36144165185202220265247259
100858789919595118115122
Total Assets258265283309330351368440419436

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
13161411171712-33125
Cash from Investing1098178794121430
Cash from Financing-1-1-0-1-1-1-0-335-45-22
2022172219181845-1812

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
75.0075.0075.0075.0075.0075.0075.0075.0075.00
0.090.080.070.010.090.000.010.110.03
0.290.290.290.290.290.290.290.290.17
Government0.000.000.000.000.000.000.000.000.00
Public24.6124.6324.6324.7024.6124.7024.6924.5924.80

Documents

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

2026-08-22
Copy of Newspaper Publication

2026-08-22 - Xchanging Solutions Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-21
General Updates

2026-08-21 - Xchanging Solutions Limited has informed the Exchange about Letter sent to the members of the Company - Web link of the Annual Report

2026-08-21
Shareholders meeting

2026-08-21 - Xchanging Solutions Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 15, 2026

2026-08-18
Copy of Newspaper Publication

2026-08-18 - Xchanging Solutions Limited has informed the Exchange about Copy of Newspaper Publication about Information related to 25th Annual General Meeting

2026-08-15
Updates

2026-08-15 - Xchanging Solutions Limited has informed the Exchange regarding 'Tax Deduction at Source ("TDS") On Final Dividend for The Financial Year Ended March 31, 2026'.

2026-08-14
Copy of Newspaper Publication

2026-08-14 - Xchanging Solutions Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-13
Outcome of Board Meeting

2026-08-13 - Xchanging Solutions Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-30
Address Change

2026-07-30 - Xchanging Solutions Limited has informed the Exchange regarding change in Registered Office of the company.

2026-07-14
Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-14 - Xchanging Solutions Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

News

Recent coverage and analyst commentary for XCHANGING

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