Xchanging Solutions (XCHANGING) had a P/E of 11.1× on 6 Nov 2026, below the industry P/E of 17.7×, and the shares are 33% below their 52-week high. Sales and net profit grew 5.2% and 9.8% a year over 3 years; its ROCE of 18% is the second-lowest among the 7 largest Information Technology Services peers. Debt is 0.12× equity, and its dividend yield is 3.5%. It is a small-cap company with a market cap of ₹676 Cr, ranked 48th of 126 Information Technology Services companies by market cap; the shares fell 38% over the past year.
- ₹57.58
- ₹62.00
- ₹57.58
- ₹57.58
- 2.9 L
Health check
- ReturnsBehind
−37.8% over a year, better than 0 of 7 peers.
- Price tagCheaper
P/E 11.1 vs industry 17.7.
- GrowthSteady
Sales +5.2%, profit +9.8% a year over 3 years.
- ProfitabilityWeak
ROCE 18.1% vs peer median 27.2%.
- Balance sheetSolid
Debt 0.12× equity, interest covered 15.2×, Piotroski 8 of 9.
- Red flags1 to check
33% below its 52-week high.
Small cap
Defensive
Key metrics
- Market cap
- ₹676 Cr
- Small cap
- P/E
- 11.1
- Industry 17.7
- Price to book
- 1.64
- Peers 5.20
- Dividend yield
- 3.47%
- ROE
- 15.3%
- Peers 22.9%
- ROCE
- 18.1%
- Peers 27.2%
- Debt to equity
- 0.12
- Debt ₹48 Cr
- EPS (TTM)
- ₹5.46
- Face value ₹10
- OPM (TTM)
- 34.1%
- Net margin 28.9%
- Sales growth
- +7.3%
- Latest quarter vs a year ago
- Profit growth
- +9.8%
- Latest quarter vs a year ago
- Price to sales
- 3.27
- EV/EBITDA 5.9
Strengths and risks
Strengths
- Dividend yield of 3.47%.
- Net margin of 28.9%.
- P/E of 11.1 against an industry P/E of 17.7.
Risks to check
- 33% below its 52-week high.
About Xchanging Solutions
Xchanging Solutions Limited provides information technology services in India, Europe, the United States, Singapore, and internationally. It provides application services, including applications modernization, managed applications, software development, and quality assurance services; AI workbench, enterprise intelligence, IoT and digital twin services, and modernization as a service; and enterprise applications, such as Amazon Quick, Microsoft, Oracle,…
- Headquarters
- Bengaluru
- Employees
- 86
- Sector
- Technology
- ISIN
- INE692G01013
- Website
- dxc.com
Price range
- Avg volume (3M)
- 84.8K
- 1-year return
- minus 37.8%
- From 52-week high
- minus 32.9%
Peers · Information Technology Services
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TCSTata Consultancy Services | 2,498.50 | plus 0.11% | 9,03,979 | 17.5 | 7.60 | 54.9% | 45.6% | 26.5% | 5.8% | 5.3% | 1.92% | minus 16.5% |
| INFYInfosys | 1,181.40 | plus 1.20% | 4,78,511 | 15.7 | 4.91 | 41.7% | 30.0% | 23.1% | 3.4% | 3.6% | 4.45% | minus 20.5% |
| HCLTECHHCL Technologies | 1,440.00 | plus 0.66% | 3,89,754 | 21.3 | 5.20 | 27.2% | 24.6% | 35.3% | 8.7% | 3.9% | 3.36% | minus 6.4% |
| WIPROWipro | 198.00 | minus 0.20% | 1,95,898 | 15.6 | 2.46 | 17.8% | 15.9% | 19.2% | 0.8% | 5.2% | 4.03% | minus 16.6% |
| TECHMTech Mahindra | 1,831.00 | plus 0.46% | 1,79,476 | 29.4 | 5.47 | 19.8% | 19.2% | 17.2% | 2.2% | −0.1% | 2.80% | plus 29.3% |
| LTMLTM | 4,338.00 | minus 1.25% | 1,28,620 | 24.6 | 4.97 | 25.4% | 21.0% | 17.9% | 8.4% | 4.4% | 1.78% | minus 21.8% |
| PERSISTENTPersistent Systems | 6,053.50 | minus 0.92% | 99,859 | 53.0 | 11.12 | 29.4% | 22.9% | 16.9% | 20.9% | 26.5% | 0.59% | plus 4.3% |
| XCHANGINGXchanging Solutions | 60.70 | plus 5.42% | 676 | 11.1 | 1.64 | 18.1% | 15.3% | 34.1% | 5.2% | 9.8% | 3.47% | minus 37.8% |
| Median of 7 peers | – | 0.11% | 1,95,898 | 21.3 | 5.20 | 27.2% | 22.9% | 19.2% | 5.8% | 4.4% | 2.80% | −16.5% |
Quarterly results
| ₹ Cr | Mar 25 | Jun 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 50.7 | 50 | 48.8 | 51.3 | 53.6 | |
| – | – | – | +1.1% | +7.3% | |
| 33.4 | 33.6 | 32.7 | 32.2 | 35.7 | |
| 17.4 | 16.4 | 16.1 | 19.1 | 18 | |
| 34.2% | 32.7% | 32.9% | 37.2% | 33.5% | |
| 3.7 | 3.8 | 3.3 | 3.3 | 3.6 | |
| 1.5 | 1.3 | 1.4 | 1.4 | 1.1 | |
| 0 | 0 | – | – | – | |
| 19.5 | 18.8 | 18 | 20.9 | 20.5 | |
| 24.9% | 26.9% | 26.7% | 22.4% | 26.1% | |
| 14.7 | 13.8 | 13.2 | 16.2 | 15.1 | |
| – | – | – | +10.9% | +9.8% | |
| 1.32 | 1.24 | 1.18 | 1.46 | 1.36 |
Profit & loss
- Sales CAGR 3Y
- +5.2%
- Profit CAGR 3Y
- +9.8%
- EPS CAGR 3Y
- +9.8%
- ROE
- 15.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 174 | 174 | 185 | 203 | |
| – | 0.0% | +6.0% | +9.7% | |
| 125 | 127 | 132 | 134 | |
| 49.7 | 47.1 | 53.1 | 68.5 | |
| 28.5% | 27.0% | 28.7% | 33.8% | |
| 10.6 | 21.3 | 16.9 | 13.6 | |
| 0.1 | 1.9 | 6.4 | 5.4 | |
| 0.6 | 0.5 | 0.3 | 0 | |
| 0 | 0.2 | 0 | −0 | |
| 59.6 | 66.2 | 63.4 | 76.7 | |
| 24.7% | 79.3% | 21.8% | 22.5% | |
| 44.9 | 13.7 | 49.6 | 59.5 | |
| – | minus 69.5% | +261.9% | +19.9% | |
| 4.03 | 1.23 | 4.45 | 5.34 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 111 | 111 | 111 | 111 | |
| 565 | 243 | 247 | 285 | |
| 1.3 | 105 | 85.5 | 71.1 | |
| 65.6 | 63.9 | 60.1 | 55.7 | |
| 743 | 523 | 504 | 523 | |
| 1.5 | 1.1 | 0 | 0 | |
| 515 | 308 | 300 | 311 | |
| 227 | 214 | 204 | 212 | |
| 743 | 523 | 504 | 523 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 42 | −12.1 | 48.9 | 41.2 | |
| 9.7 | 35.5 | 14.4 | 12.9 | |
| −0.5 | −232 | −72.4 | −49.7 | |
| 51.2 | −209 | −9.1 | 4.4 | |
| – | −0 | – | – | |
| 42 | −12.1 | 48.9 | 41.2 | |
| – | −334 | −44.6 | −22.3 |
Shareholding pattern
- Promoters75.00%
- Public25.00%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 75.00% | 25.00% | 0.00 | |
| 30 Jun 2026 | 75.00% | 25.00% | 0.00 | |
| 31 Mar 2026 | 75.00% | 25.00% | 0.00 | |
| 31 Dec 2025 | 75.00% | 25.00% | 0.00 | |
| 30 Sep 2025 | 75.00% | 25.00% | – |
Major shareholders
Filings & events
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