Xchanging Solutions Ltd

₹ 137 7.25%

24 Jul - close price

xchanging.com BSE: 532616 NSE: XCHANGING

About

Xchanging Solutions Ltd is an IT services provider with operations in India and an international presence established through subsidiaries in USA, Singapore and the UK. and global Operations in 70 plus countries. ^[1]

Key Points

Service Offerings
The company offers IT services across various categories such as Analytics and Engineering, Applications, Cloud, Consulting, Insurance Software and BPS, IT Outsourcing, Modern Workplace & Security. ^[1]

Website BSE NSE

Market Cap ₹ 1,527 Cr.
Current Price ₹ 137
High / Low ₹ 177 / 81.0
Stock P/E 112
Book Value ₹ 31.8
Dividend Yield 23.3 %
ROCE 11.9 %
ROE 2.66 %
Face Value ₹ 10.0

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Pros

Stock is providing a good dividend yield of 23.3%.

Cons

Stock is trading at 4.32 times its book value
The company has delivered a poor sales growth of -1.07% over past five years.
Company has a low return on equity of 6.37% over last 3 years.
Company might be capitalizing the interest cost
Earnings include an other income of Rs.21.8 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: IT - Software Industry: Computers - Software - Medium / Small

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	48	45	42	43	45	44	43	41	46	44	43	42	44
	35	32	29	29	31	29	30	33	33	30	32	31	35
Operating Profit	12	13	13	14	14	15	14	8	13	14	12	11	10
OPM %	26%	28%	31%	32%	31%	34%	31%	19%	29%	32%	27%	27%	22%
	2	2	2	2	2	2	3	2	3	4	6	5	8
Interest	0	0	0	0	0	0	0	0	0	0	0	0	2
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	14	15	15	16	16	17	17	10	16	17	17	16	16
Tax %	3%	27%	-29%	23%	31%	10%	28%	32%	33%	151%	19%	123%	23%
	14	11	19	12	11	15	12	7	11	-9	14	-4	12
EPS in Rs	1.25	0.95	1.69	1.08	0.99	1.34	1.08	0.62	0.99	-0.81	1.24	-0.32	1.11
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	209	243	287	279	307	186	184	182	196	174	174	174
	194	226	286	252	298	160	141	134	140	121	125	128
Operating Profit	15	17	1	28	9	26	43	48	55	53	50	47
OPM %	7%	7%	0%	10%	3%	14%	23%	26%	28%	31%	28%	27%
	11	27	36	15	14	16	15	13	16	9	11	22
Interest	0	1	1	0	0	0	0	0	0	0	0	2
Depreciation	5	5	5	4	3	1	0	1	1	1	1	1
Profit before tax	21	39	32	39	20	41	57	59	70	61	60	66
Tax %	40%	22%	21%	24%	8%	22%	18%	8%	10%	14%	25%	79%
	12	30	25	29	18	32	47	55	62	53	45	14
EPS in Rs	1.10	2.72	2.25	2.62	1.64	2.84	4.19	4.91	5.60	4.72	4.03	1.23
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	1,545%

Compounded Sales Growth
10 Years:	-3%
5 Years:	-1%
3 Years:	-4%
TTM:	0%

Compounded Profit Growth
10 Years:	-7%
5 Years:	-22%
3 Years:	-40%
TTM:	-70%

Stock Price CAGR
10 Years:	20%
5 Years:	22%
3 Years:	2%
1 Year:	11%

Return on Equity
10 Years:	8%
5 Years:	8%
3 Years:	6%
Last Year:	3%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	111	111	111	111	111	111	111	111	111	111	111	111
Reserves	139	167	193	222	239	272	322	385	444	502	565	243
	2	2	2	1	1	0	0	2	3	2	1	105
	74	105	103	78	101	84	80	75	67	61	66	64
Total Liabilities	326	386	409	412	452	468	513	573	625	676	743	523
	166	166	166	164	161	159	159	161	160	161	160	159
CWIP	0	0	0	0	0	0	0	0	0	0	0	0
Investments	0	0	0	0	101	122	0	0	0	0	0	0
	159	220	243	249	190	188	355	412	465	516	583	364
Total Assets	326	386	409	412	452	468	513	573	625	676	743	523

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	14	34	1	28	38	36	48	46	62	35	42	-12
	-13	-6	4	6	8	6	14	24	5	15	34	37
	-0	0	0	-1	-1	-1	-0	-1	-2	-1	-0	-232
Net Cash Flow	2	29	5	33	45	42	62	69	65	49	75	-207

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	80	70	85	60	55	61	57	41	17	31	16	24
Inventory Days
Days Payable
Cash Conversion Cycle	80	70	85	60	55	61	57	41	17	31	16	24
Working Capital Days	43	6	23	22	-17	-30	-44	-19	-63	-31	-55	-54
ROCE %	11%	13%	7%	12%	6%	11%	14%	13%	13%	10%	9%	12%

Shareholding Pattern

Numbers in percentages

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
	0.04%	0.15%	0.24%	0.24%	0.06%	0.11%	0.05%	0.04%	0.11%	0.11%	0.23%	0.09%
	0.37%	0.37%	0.31%	0.31%	0.31%	0.31%	0.31%	0.29%	0.29%	0.29%	0.29%	0.29%
	24.59%	24.48%	24.45%	24.45%	24.63%	24.57%	24.63%	24.68%	24.60%	24.58%	24.47%	24.61%
No. of Shareholders	59,355	58,955	59,940	58,997	58,778	56,672	54,834	52,695	57,671	59,457	71,437	72,997

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Jun 2024
	78.77%	78.77%	90.80%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
	0.00%	0.00%	0.00%	0.04%	0.24%	0.24%	0.05%	0.23%	0.09%
	0.36%	0.37%	0.36%	5.16%	4.64%	0.31%	0.31%	0.29%	0.29%
	20.87%	20.86%	8.84%	19.80%	20.12%	24.45%	24.63%	24.47%	24.61%
No. of Shareholders	16,672	15,495	14,859	16,369	20,300	59,940	54,834	71,437	72,997

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Xchanging Solutions Ltd

Xchanging Solutions Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

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