Table of Contents

Xchanging Solutions Ltd

Updated on April 19, 2024

Stock/Share Code - XCHANGING

Xchanging Solutions provides business processing, technology and procurement services internationally to customers across multiple industries.

Below is the details of XCHANGING Xchanging Solutions Ltd

Market Cap	₹815.45 Cr.
Current Price	₹55.6 as on 23 Mar 23
52 Week High / Low Price	₹79.6 / ₹24.9
Face Value	₹10
Stock P/E	34.88
Book Value	₹20.39
Dividend Yield	0.00 %
ROCE	12.20 %
ROE	10.52 %
Sales Growth (3yrs)	-24.45 %
Sector	IT - Software
Industry	Computers - Software - Medium / Small
Listed on	BSE AND NSE
Company Website	Company Website

Pros: Company is virtually debt free. Company has delivered good profit growth of 21.76% CAGR over last 5 years

Cons: Stock is trading at 3.59 times its book value Though the company is reporting repeated profits, it is not paying out dividend The company has delivered a poor growth of -22.18% over past five years. Tax rate seems low Company has a low return on equity of 7.50% for last 3 years. Earnings include an other income of Rs.16.55 Cr.

Xchanging Solutions Ltd Price Chart

Xchanging Solutions Ltd Peer Comparison in IT - Software

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Qtr Sales Var %	Sales Qtr Rs.Cr.	ROCE %
1.	Oracle Fin.Serv.		16.66	₹26,070.88 Cr.	5.94	₹479.79 Cr.	27.13	4.87	1337.26	39.58
2.		17.23	₹20,589.21 Cr.	3.15	₹275.12 Cr.	3.94	10.94	2288.21	26.16
3.		22.36	₹16,362.3 Cr.	1.34	₹117.2 Cr.	-42.52	-3.92	1294.70	42.59
4.	Hexaware Tech.		17.51	₹11,885.09 Cr.	1.13	₹152.45 Cr.	-7.54	19.93	1569.12	30.44
5.	Coforge		25.45	₹11,654.74 Cr.	1.61	₹79.9 Cr.	9.80	9.80	1057.00	26.90
6.	Persistent Sys		21.05	₹7,323.43 Cr.	1.25	₹90.01 Cr.	9.14	19.14	991.39	18.57
7.	Tata Elxsi		24.24	₹6,693.47 Cr.	1.53	₹68.87 Cr.	41.16	10.72	400.49	34.96
8.	Xchanging Sol.		34.88	₹815.45 Cr.	0.00	₹7.75 Cr.	9.77	-1.65	10.70	12.20

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Xchanging Solutions Ltd Fundamentals

Quarterly Results

Quarterly reports are issued by companies every three months. Most companies have a financial year-end of Mar. 31 and quarters that end on June 30, Sept. 30, Dec. 31 and March 31.

Standalone Figures in Rs. Crores

	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020
Sales -	12.61	13.79	14.44	13.62	11.53	14.28	12.60	10.88	10.84	10.80	10.18	10.70
YOY Sales Growth %	-30.68%	-27.38%	-16.72%	-9.74%	-8.56%	3.55%	-12.74%	-20.12%	-5.98%	-24.37%	-19.21%	-1.65%
Expenses -	12.53	11.41	14.22	11.29	11.00	8.92	8.14	8.14	7.58	7.97	7.48	7.54
Employee Cost %	70.58%	57.14%	55.47%	52.94%	56.55%	43.14%	46.98%	48.90%	50.18%	47.04%	49.71%	49.63%
Operating Profit	0.08	2.38	0.22	2.33	0.53	5.36	4.46	2.74	3.26	2.83	2.70	3.16
OPM %	0.63%	17.26%	1.52%	17.11%	4.60%	37.54%	35.40%	25.18%	30.07%	26.20%	26.52%	29.53%
Other Income	2.02	2.52	4.11	3.00	5.68	1.59	1.74	7.54	2.94	2.50	2.70	8.41
Interest	0.01	0.01	0.00	0.00	0.01	0.00	0.00	0.01	0.04	0.04	0.02	0.07
Depreciation	0.27	0.22	0.18	0.11	0.10	0.06	0.10	0.13	0.16	0.23	0.25	0.36
Profit before tax	1.82	4.67	4.15	5.22	6.10	6.89	6.10	10.14	6.00	5.06	5.13	11.14
Tax %	42.31%	39.40%	83.61%	32.38%	31.64%	32.95%	31.97%	30.37%	-59.50%	47.23%	33.92%	30.43%
Net Profit	1.05	2.83	0.68	3.53	4.17	4.62	4.15	7.06	9.57	2.67	3.39	7.75
EPS in Rs	0.25	0.25	0.06	0.32	0.37	0.41	0.37	0.63	0.86	0.24	0.30	0.70
	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes

Profit & Loss

The profit and loss (P&L) statement is a financial statement that summarizes the revenues, costs and expenses incurred during a specified period, usually a fiscal quarter or year. The P&L statement is synonymous with the income statement. These records provide information about a company's ability or inability to generate profit" by increasing revenue, reducing costs or both. Some refer to the P&L statement as a statement of profit and loss, income statement, statement of operations, statement of financial results or income, earnings statement or expense statement.

Standalone Figures in Rs. Crores

	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020	TTM
Sales -	214	253	218	173	100	112	150	121	99	56	52	43	43
Sales Growth %	24.95%	18.34%	-13.77%	-20.60%	-42.33%	12.36%	33.42%	-19.17%	-18.10%	-43.52%	-6.97%	-17.93%
Expenses -	186	207	182	269	80	99	140	106	113	52	39	31	31
Manufacturing Cost %	31.50%	27.39%	14.66%	9.44%	6.58%	14.11%	21.24%	16.25%	14.36%	12.00%	9.38%	0.00%
Employee Cost %	35.77%	36.38%	47.32%	53.13%	61.32%	53.89%	49.34%	53.51%	66.01%	60.20%	50.22%	48.95%
Other Cost %	19.79%	18.18%	21.77%	92.76%	12.54%	19.99%	23.06%	17.72%	33.77%	21.47%	16.05%	24.05%
Operating Profit	28	46	35	-96	20	13	10	15	-14	4	13	12	12
OPM %	13%	18%	16%	-55%	20%	12%	6%	13%	-14%	6%	24%	27%	28%
Other Income	3	4	-14	-24	-2	20	9	12	11	10	12	16	17
Interest	7	15	7	3	0	0	0	0	0	0	0	0	0
Depreciation	11	14	14	9	3	4	4	4	3	1	0	1	1
Profit before tax	13	21	0	-132	14	29	14	23	-6	13	24	26	27
Tax %	8%	-1%	511%	2%	53%	26%	48%	41%	-8%	57%	32%	14%
Net Profit	12	21	-1	-130	6	22	7	14	-7	6	16	23	23
EPS in Rs	1.40	1.86	0.00	0.00	0.58	1.93	0.65	1.22	0.00	0.50	1.48	2.04	2.10
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth

10 Years:: -16.29%
5 Years:: -22.18%
3 Years:: -24.45%
TTM:: -13.74%

Compounded Profit Growth

10 Years:: -0.20%
5 Years:: 21.76%
3 Years:: 74.43%
TTM:: 16.90%

Return on Equity

10 Years:: 2.09%
5 Years:: 23.89%
3 Years:: 8.44%
1 Year:: 38.73%

Balance Sheet

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure. It is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. It is used alongside other important financial statements such as the income statement and statement of cash flows in conducting fundamental analysis or calculating financial ratios.

Standalone Figures in Rs. Crores

	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020
Share Capital -	111	111	111	111	111	111	111	111	111	111	111	111
Equity Capital	111	111	111	111	111	111	111	111	111	111	111	111
Reserves	138	159	158	28	35	56	63	77	70	76	93	116
Borrowings	97	73	57	2	2	2	2	1	1	0	0	2
Other Liabilities -	145	127	71	43	44	71	75	51	56	56	52	45
Trade Payables	25.91	21.45	27.03	25.30	15.98	15.91	19.39	14.18	16.03	14.28	8.33	6.04
Advance from Customers	25.77	28.05	8.99	4.02	0.00	0.00	0.11	0.10	1.39	0.03	0.08
Other liability items	93.18	77.61	34.91	13.72	28.03	55.42	55.30	36.73	38.13	41.35	43.32	38.80
Total Liabilities	491	470	398	184	192	241	252	241	238	243	256	274
Fixed Assets -	30	26	17	4	7	7	7	5	2	0	0	2
Gross Block	75.43	87.03	86.75	30.60	35.06	37.69	39.92	37.76	27.85	18.36	12.72
Accumulated Depreciation	45.88	60.77	69.71	26.74	27.94	30.91	32.68	32.97	25.81	17.98	12.43
CWIP	1	0	1	0	0	0	0	0	0	0	0	0
Investments	203	203	178	59	59	59	52	52	153	173	52	52
Other Assets -	258	241	202	122	126	175	193	184	83	70	204	220
Trade receivables	99	86	58	50	42	43	51	35	19	12	9	8
Cash Equivalents	6	4	5	24	22	51	59	84	3	6	144	165
Loans n Advances	149	151	138	32	38	47	42	23	21	18	18	16
Other asset items	4	0	0	16	23	35	41	42	40	34	33	30
Total Assets	491	470	398	184	192	241	252	241	238	243	256	274

Cash Flows

Cash flow is the net amount of cash and cash-equivalents being transferred into and out of a business. At the most fundamental level, a company’s ability to create value for shareholders is determined by its ability to generate positive cash flows, or more specifically, maximize long-term free cash flow.

Standalone Figures in Rs. Crores

	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020
Cash from Operating Activity -	-6	45	26	18	11	31	9	19	11	14	9	5
Profit from operations	48.58	56.21	45.86	51.77	14.68	17.28	16.11	19.56	-3.75	7.78	14.10	12.21
Receivables	-41.38	11.94	26.30	-16.25	4.43	5.92	-0.28	15.02	6.40	6.13	3.04	0.56
Payables	21.01	-22.88	-55.20	-8.43	-11.69	1.33	-1.73	-5.20	1.80	-2.20	-5.78	-2.37
Loans Advances	-32.29	5.06	13.18	1.14	-1.34	7.48	-2.73	2.85	0.00	0.00	0.00	-0.29
Other WC items	0.00	0.00	0.00	0.00	8.33	1.87	0.20	-8.67	8.65	3.92	2.55	1.22
Working capital changes	-52.66	-5.88	-15.72	-23.54	-0.27	16.60	-4.54	4.00	16.85	7.85	-0.19	-0.88
Direct taxes	-1.88	-5.05	-4.63	-10.61	-2.93	-2.59	-2.10	-4.14	-2.15	-1.40	-5.26	-6.02
Cash from Investing Activity -	-3	-11	-5	355	-12	-8	4	6	10	9	8	17
Fixed assets purchased	-7.39	-14.03	-5.14	-5.65	-6.94	-4.55	-5.03	-1.92	-0.98	-0.10	-0.22	-0.38
Fixed assets sold	0.55	0.28	0.35	0.05	0.47	0.32	0.35	0.50	1.13	0.74	0.08	0.02
Investments sold	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest received	0.10	0.28	0.06	0.84	3.41	3.02	3.51	6.01	8.30	3.70	2.83	10.19
Dividends received	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.39	4.85	5.42	3.95
Invest in subsidiaries	0.00	0.00	-0.01	74.59	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Loans to subsidiaries	0.00	0.00	0.00	0.00	-9.25	-1.25	0.82	0.00	0.00	0.00	0.00	0.00
Inter corporate deposits	0.00	0.00	0.00	-9.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other investing items	3.53	2.05	0.00	294.25	-0.07	-5.23	4.02	1.02	-0.98	-0.21	0.23	3.68
Cash from Financing Activity -	8	-35	-19	-354	-0	0	0	-1	-1	-1	-0	-1
Proceeds from shares	0.02	0.09	0.12	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Proceeds from borrowings	57.00	31.00	8.50	0.00	-0.01	1.38	1.18	0.34	0.44	0.00	0.00	0.00
Repayment of borrowings	-7.06	-55.12	-22.87	-28.92	0.00	-1.11	-0.86	-1.02	-1.07	-0.70	-0.08	-0.03
Interest paid fin	-6.18	-9.28	-3.97	-5.85	-0.16	-0.17	-0.20	-0.19	-0.15	-0.04	-0.01	-0.11
Financial liabilities	-32.04	0.00	-0.91	0.82	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.90
Other financing items	-3.69	-1.36	0.00	-320.49	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.45
Net Cash Flow	-1	-1	2	18	-1	24	13	24	20	22	17	22

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Ratios

	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Mar 2017	Mar 2018	Mar 2019	Mar 2020
ROCE %	7%	11%	9%	17%	13%	17%	11%	13%	-3%	7%	12%	12%
Debtor Days	168	124	98	106	153	139	124	107	70	79	62	70
Inventory Turnover

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Disclaimer:
All efforts have been made to ensure the information provided here is accurate as per time to time filling by company to exchanges. However, no guarantees are made regarding correctness of data. Investors are advised to validate/check information with exchanges or companies website before making any investment decisions.

Shepard Technologies Pvt. Ltd : 1808, Solus, Hiranandani Estate, Thane, Maharashtra - 400607

AMFI Registration No. 112358 | CIN: U74999MH2016PTC282153

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