Subex Limited has informed the Exchange about Investor Presentation
November 11, 2025
The Secretary BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai- 400 001 Fax: 022-2272 2037/2039/2041/3121 BSE Scrip Code: 532348
Dear Sir/Madam,
The Secretary National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot no. C/l G Block, Bandra-Kurla Complex Bandra (E), Mumbai - 400 051 Fax: 022-2659 8237/38; 2659 8347/48 NSE Symbol: SUBEXLTD
Sub: Subex Limited “The Company”- Investor Presentation for Q2 FY26
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the Investor presentation for Q2 of FY26 for the Earnings Call scheduled to be held on Wednesday, November 12, 2025, at 11:30 A.M. (IST).
Kindly broadcast the same on your website.
Thanking you
Yours faithfully, For Subex Limited
Ramu Akkili Company Secretary & Compliance Officer
Encl: as above
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Subex Limited Investor Presentation
11 November 2025
investor.relations@subex.com
Agenda of the meeting
• Financial Updates
• Business Highlights
FY26 Quarterly Results
•
Revenue : Q2 revenue grew by 4% QoQ to ₹6,891 lakhs, supported by the improved project execution. On a year-on-year basis, Telco revenue reflects a marginal decline.
• Normalized EBITDA improved significantly to ₹730 lakhs compared to
₹428 lakhs in Q1FY26, led by stronger contribution margin.
• Normalised PBT: stood at ₹524 lakhs vs ₹71 lakhs in Q1 excluding the one-time gains towards IT refund interest and lease termination gains aggregating to ~₹14Cr.
• Normalised PAT stood at ₹388 lakhs - the first quarter sustained
profitability, driven purely by operational performance, without any one time or non operating gains.
•
Earnings Per Share (EPS): EPS for Q2 FY26 stood at ₹0.05, compared to ₹0.23 in Q1 FY26 and ₹0.01 in Q2 FY25.
Other Information
• DSO stand at ~100 days vs ~96 days in Q1 FY26, excluding unbilled trade
debtors, year on year DSO has reduced by 13 days.
•
Closing cash stood at ₹ 13,589 Lakhs vs ₹ ₹ 13,582 Lakhs of Q1 FY26, reflecting continued liquidity stability.
Normalised EBITDA*
Normalised PBT*
Normalised PAT *
PAT Incl. Exceptional Items &
impairment allowances
Q2 FY25 326 428 730
Q1 FY26
(₹ in Lakhs) Q2 FY26
14 1,471 524
(223) 1,281 388
62 1,281 286
* Excluding Exceptional Items & Impairment allowance for trade receivables
Revenue Metrices – Q2 FY26
Business Highlights
Reimagine & Grow • Announced deals over $15 Million in last few months 2 new opportunities in APAC & Europe • • MS continues to be a strong business
•
Renewed 2 Tier 1 MS contract in APAC & Europe
PAT turned Positive (normalized) in Q2, supported by improved margins
• • Cash position continues to remains healthy •
EBITDA has been positive in 7 out of last 8 quarters, underscoring consistent operational performance.
• Onboarded new Sales Head based out of Europe • Building an AI-native workforce to future-proof innovation
G
E
T
Growth
Efficiency
Talent
5
Quarter 2 Order Intake Snapshot
Won a new deal from an operator in APAC for Business Assurance and HyperSense Fraud management
Renewed 5 years MS contract for a tier-1 operator in APAC
Tier-1 operator in Europe renewed Managed Services for 5 year
Tier-1 Middle East operator renewed their MS contract and Product License
Won a new deal from Tier-1 operator in APAC for Partner Settlement
6
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%
7
Global Marquee Customer Base
150+
Global customers 100+ Countries
8
Thank you
investor.relations@subex.com
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