Subex Limited (SUBEXLTD) - Net Assets

Latest as of March 2026: Rs3.43 Billion INR ≈ $37.07 Million USD

Based on the latest financial reports, Subex Limited (SUBEXLTD) has net assets worth Rs3.43 Billion INR (≈ $37.07 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs5.52 Billion ≈ $59.69 Million USD) and total liabilities (Rs2.09 Billion ≈ $22.61 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check strategic asset allocation of Subex Limited to assess the company's strategic physical and investment asset allocation.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs3.43 Billion
% of Total Assets	62.11%
Annual Growth Rate	4.96%
5-Year Change	-39.18%
10-Year Change	-49.89%
Growth Volatility	96.51

Subex Limited - Net Assets Trend (2005–2026)

This chart illustrates how Subex Limited's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see how much is Subex Limited worth.

Annual Net Assets for Subex Limited (2005–2026)

The table below shows the annual net assets of Subex Limited from 2005 to 2026. Also explore Subex Limited annual equity growth to track the company's year-over-year net asset growth rate.

Year	Net Assets	Change
2026-03-31	Rs3.43 Billion ≈ $37.07 Million	+12.59%
2025-03-31	Rs3.04 Billion ≈ $32.93 Million	-8.70%
2024-03-31	Rs3.34 Billion ≈ $36.07 Million	-36.09%
2023-03-31	Rs5.22 Billion ≈ $56.44 Million	-7.42%
2022-03-31	Rs5.64 Billion ≈ $60.96 Million	+2.76%
2021-03-31	Rs5.49 Billion ≈ $59.32 Million	+6.43%
2020-03-31	Rs5.15 Billion ≈ $55.74 Million	-35.10%
2019-03-31	Rs7.94 Billion ≈ $85.88 Million	+1.88%
2018-03-31	Rs7.79 Billion ≈ $84.29 Million	+13.94%
2017-03-31	Rs6.84 Billion ≈ $73.98 Million	-5.90%
2016-03-31	Rs7.27 Billion ≈ $78.62 Million	+247.78%
2015-03-31	Rs2.09 Billion ≈ $22.61 Million	+20.40%
2014-03-31	Rs1.74 Billion ≈ $18.78 Million	-22.83%
2013-03-31	Rs2.25 Billion ≈ $24.33 Million	+55.59%
2012-03-31	Rs1.45 Billion ≈ $15.64 Million	-30.95%
2011-03-31	Rs2.09 Billion ≈ $22.65 Million	-27.17%
2010-03-31	Rs2.88 Billion ≈ $31.10 Million	-42.58%
2009-03-31	Rs5.01 Billion ≈ $54.15 Million	-33.58%
2008-03-31	Rs7.54 Billion ≈ $81.54 Million	-10.32%
2007-03-31	Rs8.41 Billion ≈ $90.92 Million	+364.20%
2006-03-31	Rs1.81 Billion ≈ $19.59 Million	+45.94%
2005-03-31	Rs1.24 Billion ≈ $13.42 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Subex Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have decreased by 29620000000.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (March 2026)

Component	Amount	Percentage
Common Stock	Rs2.81 Billion	81.97%
Other Comprehensive Income	Rs618.10 Million	18.03%
Other Components	Rs296.20 Million	8.64%
Total Equity	Rs3.43 Billion	100.00%

Subex Limited Competitors by Market Cap

The table below lists competitors of Subex Limited ranked by their market capitalization.

Company	Market Cap
Bhiraj Office Leasehold Real Estate Investment Trust BK:BOFFICE	$120.74 Million
Shanghai Jinjiang International Travel Co Ltd SHG:900929	$120.76 Million
Cheil Electric Wiring Devices Co. Ltd. KQ:199820	$120.77 Million
Champion Microelectronic Corp TW:3257	$120.82 Million
United Recommend International Co Ltd TWO:5321	$120.63 Million
T.A.C. Consumer Public Company Limited BK:TACC	$120.62 Million
ZJK Industrial Co., Ltd NASDAQ:ZJK	$120.62 Million
Shimmick Corporation Common Stock NASDAQ:SHIM	$120.55 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Subex Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2025 to 2026, total equity changed from 3,044,800,000 to 3,428,100,000, a change of 383,300,000 (12.6%).
Net income of 285,300,000 contributed positively to equity growth.
New share issuances of 8,700,000 increased equity.
Other comprehensive income increased equity by 1,425,599,999.
Other factors decreased equity by 1,336,299,999.

Equity Change Factors (2025 to 2026)

Factor	Impact	Contribution
Net Income	Rs285.30 Million	+8.32%
Share Issuances	Rs8.70 Million	+0.25%
Other Comprehensive Income	Rs1.43 Billion	+41.59%
Other Changes	Rs-1.34 Billion	-38.98%
Total Change	Rs-	12.59%

Book Value vs Market Value Analysis

This analysis compares Subex Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 3.28x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has increased from 0.32x to 3.28x over the analyzed period, suggesting growing market confidence.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2005-03-31	Rs63.37	Rs20.11	x
2006-03-31	Rs83.89	Rs20.11	x
2007-03-31	Rs261.54	Rs20.11	x
2008-03-31	Rs216.44	Rs20.11	x
2009-03-31	Rs143.70	Rs20.11	x
2010-03-31	Rs40.07	Rs20.11	x
2011-03-31	Rs21.19	Rs20.11	x
2012-03-31	Rs20.84	Rs20.11	x
2013-03-31	Rs16.51	Rs20.11	x
2014-03-31	Rs10.42	Rs20.11	x
2015-03-31	Rs12.18	Rs20.11	x
2016-03-31	Rs15.66	Rs20.11	x
2017-03-31	Rs13.51	Rs20.11	x
2018-03-31	Rs14.03	Rs20.11	x
2019-03-31	Rs14.24	Rs20.11	x
2020-03-31	Rs9.45	Rs20.11	x
2021-03-31	Rs9.95	Rs20.11	x
2022-03-31	Rs10.16	Rs20.11	x
2023-03-31	Rs9.49	Rs20.11	x
2024-03-31	Rs6.04	Rs20.11	x
2025-03-31	Rs5.52	Rs20.11	x
2026-03-31	Rs6.13	Rs20.11	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Subex Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 8.32%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 10.22%
• Asset Turnover: 0.51x
• Equity Multiplier: 1.61x
Recent ROE (8.32%) is above the historical average (-1.44%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2005	20.73%	22.07%	0.67x	1.41x	Rs133.11 Million
2006	20.90%	20.86%	0.84x	1.19x	Rs197.37 Million
2007	8.04%	19.82%	0.19x	2.12x	Rs-165.07 Million
2008	-9.03%	-14.02%	0.26x	2.45x	Rs-1.43 Billion
2009	-37.62%	-33.73%	0.29x	3.79x	Rs-2.38 Billion
2010	34.88%	21.66%	0.38x	4.26x	Rs715.42 Million
2011	37.62%	16.32%	0.45x	5.13x	Rs578.37 Million
2012	22.02%	6.66%	0.43x	7.60x	Rs173.81 Million
2013	-26.64%	-18.13%	0.30x	4.84x	Rs-824.47 Million
2014	-6.69%	-3.41%	0.31x	6.30x	Rs-289.75 Million
2015	4.89%	2.84%	0.32x	5.42x	Rs-106.90 Million
2016	8.08%	18.16%	0.31x	1.43x	Rs-139.75 Million
2017	-6.32%	-12.10%	0.37x	1.40x	Rs-1.12 Billion
2018	2.65%	6.38%	0.36x	1.15x	Rs-572.65 Million
2019	3.18%	7.24%	0.39x	1.13x	Rs-541.90 Million
2020	-52.22%	-73.74%	0.54x	1.32x	Rs-3.21 Billion
2021	9.43%	13.90%	0.51x	1.32x	Rs-31.35 Million
2022	3.72%	6.33%	0.46x	1.28x	Rs-353.77 Million
2023	-9.81%	-18.38%	0.40x	1.35x	Rs-1.03 Billion
2024	-57.49%	-61.90%	0.58x	1.59x	Rs-2.25 Billion
2025	-10.33%	-11.01%	0.59x	1.60x	Rs-618.88 Million
2026	8.32%	10.22%	0.51x	1.61x	Rs-57.51 Million

Industry Comparison

This section compares Subex Limited's net assets metrics with peer companies in the Software - Application industry.

Industry Context

Industry: Software - Application
Average net assets among peers: $2,643,713,915
Average return on equity (ROE) among peers: 4.85%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Subex Limited (SUBEXLTD)	Rs3.43 Billion	20.73%	0.61x	$120.67 Million
63 moons technologies limited (63MOONS)	$560.61 Million	22.73%	0.09x	$440.89 Million
Black Box Limited (BBOX)	$2.26 Billion	15.33%	0.81x	$1.54 Billion
Bharatiya Global Infomedia Limited (BGLOBAL)	$815.85 Million	-5.47%	0.41x	$522.58K
ZINKA LOGISTICS SOL LTD (BLACKBUCK)	$12.38 Billion	-0.70%	0.16x	$1.25 Billion
California Software Company Limited (CALSOFT)	$-294.57 Million	0.00%	0.00x	$6.55 Million
eMudhra Limited (EMUDHRA)	$3.92 Billion	15.72%	0.17x	$543.06 Million
InfoBeans Technologies Limited (INFOBEAN)	$222.22 Million	31.57%	0.20x	$158.62 Million
Intellect Design Arena Limited (INTELLECT)	$6.19 Billion	-3.79%	0.55x	$969.49 Million
Iris Business Services Limited (IRIS)	$280.69 Million	-26.84%	1.23x	$52.96 Million
IZMO Limited (IZMO)	$105.12 Million	0.00%	1.59x	$151.19 Million

About Subex Limited

NSE:SUBEXLTD India Software - Application

Market Cap

$120.67 Million

Rs11.16 Billion INR

Market Cap Rank

#18576 Global

#996 in India

Share Price

Rs20.11

Change (1 day)

+1.06%

52-Week Range

Rs6.68 - Rs20.80

All Time High

Rs72.50