XCHANGING

Xchanging Solutions Limited

IT services provider under DXC Technology Company

Information Technology›Information Technology›IT - Software›Computers - Software & Consulting

dxc.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹60.85
Market cap
677 Cr
Stock P/E
11.1
P/B
1.71
Dividend yield
3.3%
ROE (FY26)
15.0%
ROCE (FY26)
17.6%
Operating margin (FY26)
33.8%
Debt / equity (FY26)
0.18
OCF / EBITDA (FY26)
60.1%
OCF / EBITDA (3Y)
45.1%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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What you need to know

Xchanging Solutions provides information technology (IT) services and describes itself as a DXC Technology company.

Company snapshot

31stBy market cap

Ranked among 50 companies in Computers - Software & Consulting.

What we see

Positives
  • ✓Net margin of 29.3% — the business keeps a healthy share of every rupee it earns.
Concerns
  • ✗Only 45% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.
3 more signals from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales43 Cr42 Cr44 Cr44 Cr44 Cr46 Cr51 Cr50 Cr53 Cr49 Cr51 Cr54 Cr
Operating expenses (approx.)32 Cr31 Cr35 Cr33 Cr34 Cr31 Cr33 Cr34 Cr36 Cr33 Cr32 Cr36 Cr
EBITDA12 Cr11 Cr10 Cr11 Cr11 Cr14 Cr17 Cr16 Cr17 Cr16 Cr19 Cr18 Cr
OPM %26.9%26.6%22.2%24.2%24.5%31.0%34.2%32.7%32.2%32.9%37.2%33.5%
Other income6 Cr5 Cr8 Cr6 Cr4 Cr4 Cr4 Cr4 Cr3 Cr3 Cr3 Cr4 Cr
Interest0.02 Cr0.20 Cr2 Cr2 Cr2 Cr2 Cr2 Cr1 Cr1 Cr1 Cr1 Cr1 Cr
Depreciation0.15 Cr0.12 Cr0.12 Cr0.12 Cr0.11 Cr0.04 Cr0.02 Cr0.01 Cr0 Cr0 Cr0 Cr0 Cr
Profit before tax17 Cr16 Cr16 Cr14 Cr13 Cr16 Cr20 Cr19 Cr19 Cr18 Cr21 Cr20 Cr
Tax %18.7%122.7%23.2%26.6%24.6%11.6%24.9%26.9%14.2%26.7%22.4%26.1%
Net profit14 Cr-4 Cr12 Cr11 Cr10 Cr14 Cr15 Cr14 Cr16 Cr13 Cr16 Cr15 Cr
EPS (₹)₹1.24₹-0.32₹1.11₹0.95₹0.88₹1.30₹1.32₹1.24₹1.46₹1.18₹1.46₹1.36

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales—186 Cr184 Cr182 Cr196 Cr174 Cr174 Cr174 Cr185 Cr203 CrSign in free for the trailing twelve months
Operating expenses (approx.)—160 Cr141 Cr134 Cr140 Cr121 Cr125 Cr128 Cr132 Cr134 CrSign in free for the trailing twelve months
EBITDA—26 Cr43 Cr48 Cr55 Cr53 Cr50 Cr47 Cr53 Cr69 CrSign in free for the trailing twelve months
OPM %—14.0%23.2%26.4%28.3%30.6%28.4%26.8%28.7%33.8%Sign in free for the trailing twelve months
Other income—16 Cr15 Cr13 Cr16 Cr9 Cr11 Cr22 Cr17 Cr14 CrSign in free for the trailing twelve months
Interest—0.04 Cr0.01 Cr0.13 Cr0.26 Cr0.16 Cr0.10 Cr2 Cr6 Cr5 CrSign in free for the trailing twelve months
Depreciation—1 Cr0.47 Cr1 Cr1 Cr0.91 Cr0.61 Cr0.54 Cr0.29 Cr0.01 CrSign in free for the trailing twelve months
Profit before tax—41 Cr57 Cr59 Cr70 Cr61 Cr60 Cr66 Cr63 Cr77 CrSign in free for the trailing twelve months
Tax %—22.1%17.8%7.7%10.4%13.6%24.7%79.3%21.8%22.5%Sign in free for the trailing twelve months
Net profit—32 Cr47 Cr55 Cr62 Cr53 Cr45 Cr14 Cr50 Cr59 CrSign in free for the trailing twelve months
EPS (₹)—₹2.84₹4.19₹4.91₹5.61₹4.72₹4.03₹1.23₹4.45₹5.34Sign in free for the trailing twelve months
Dividend payout %————0.0%0.0%0.0%2439.5%89.9%37.5%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital111 Cr111 Cr111 Cr111 Cr111 Cr111 Cr111 Cr111 Cr111 Cr111 Cr
Reserves239 Cr272 Cr322 Cr385 Cr444 Cr502 Cr565 Cr243 Cr247 Cr285 Cr
Borrowings0.46 Cr0.03 Cr—————104 Cr85 Cr71 Cr
Other liabilities101 Cr84 Cr80 Cr77 Cr69 Cr60 Cr67 Cr65 Cr60 Cr56 Cr
Total liabilities452 Cr468 Cr513 Cr573 Cr625 Cr673 Cr743 Cr523 Cr504 Cr523 Cr
Fixed assets (net)2 Cr0.45 Cr0.31 Cr3 Cr2 Cr2 Cr2 Cr1 Cr0.04 Cr0.01 Cr
CWIP——0 Cr0 Cr0 Cr———0 Cr—
Investments101 Cr122 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Loans & advances——3 Cr14 Cr0 Cr9 Cr0 Cr0 Cr0 Cr0 Cr
Trade receivables46 Cr31 Cr29 Cr21 Cr9 Cr15 Cr8 Cr11 Cr12 Cr17 Cr
Cash & bank52 Cr74 Cr257 Cr326 Cr391 Cr440 Cr515 Cr308 Cr300 Cr311 Cr
Other assets250 Cr241 Cr225 Cr210 Cr223 Cr208 Cr219 Cr203 Cr192 Cr195 Cr
Total assets452 Cr468 Cr513 Cr573 Cr625 Cr673 Cr743 Cr523 Cr504 Cr523 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity—33 Cr48 Cr46 Cr62 Cr35 Cr42 Cr-12 Cr47 Cr41 Cr
Cash from investing—9 Cr11 Cr14 Cr8 Cr8 Cr10 Cr35 Cr14 Cr13 Cr
Cash from financing—-0.74 Cr-0.09 Cr-1 Cr-2 Cr-1 Cr-0.48 Cr-232 Cr-70 Cr-50 Cr
Net cash flow—41 Cr59 Cr58 Cr65 Cr49 Cr75 Cr-207 Cr-8 Cr11 Cr
Free cash flow (OCF − Capex)—32 Cr48 Cr45 Cr61 Cr35 Cr42 Cr-12 Cr47 Cr41 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—10.6%13.1%12.0%12.6%9.9%8.8%14.9%15.7%17.6%
ROE %—8.2%10.8%11.0%11.2%8.6%6.6%3.9%13.8%15.0%
Debtor days—615741173116242430
Inventory days——00000000
Days payable—686264433432383828
Cash conversion cycle—-7-5-23-25-3-17-14-142
OCF / EBITDA %—125.0%112.7%94.9%111.9%65.5%84.7%-25.8%88.1%60.1%
OCF / EBITDA % (3 years)———108.1%106.5%90.9%87.8%43.4%51.3%45.1%
Debt / equity0.00130.0001————0.000.290.240.18
Current ratio2.433.284.085.386.628.879.946.094.574.97
Net debt / EBITDA——-6.01-6.76-7.06-8.24-10.38-4.35-4.04-3.50