Promoter holding
64.27%
SL
Subex Limited - Due diligence report
A 360° intelligence report on Subex: trust score, financial health, credit view, compliance, directors, growth and distress signals - genera…
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Subex — 360° Intelligence Report
Generated from MCA filings & public records69/100
Trust Score
Moderate
Subex is assessed as Moderate with a Trust Score of 69/100. Subex is an active public limited indian non-government company incorporated in 1994, operating in the Information Technology sector. It was profitable in its latest filed year. Based on MCA filings and public records, it currently shows a high compliance risk and low financial risk profile.
Report generated on 25 Jun 2026 from the latest processed filings. Subex Limited snapshot & full profile →
Automated indicators derived from public MCA / GST / EPFO records - not a credit rating, not investment, legal or financial advice. Spotted an inaccuracy? Report an error.
02
Score Card
Higher is safer · rule-based & explainableTrust ScoreModerate
69/100
Overall counterparty trust - the headline number of this report.
Compliance ScoreCaution Indicated
38/100
Statutory standing - status, filings, auditor, MSME and litigation.
Financial Health ScoreLow Risk
75/100
Profitability, leverage and liquidity from filed statements.
Credit Risk ScoreLow Risk
75/100
Debt capacity, gearing and security cover for lenders.
Director Stability ScoreLow Risk
85/100
Board strength, DIN status, churn and network.
Growth ScoreModerate
50/100
Revenue, profit, asset and hiring momentum.
Distress ScoreLow Risk
75/100
Early-warning signals - higher means fewer warnings.
03
Financial Intelligence Dashboard
Consolidated · 5 filed year(s)Unlock the full 5-year financial dashboard with charts and year-wise figures.
Get full accessScores and observations on this page are already computed from the real filings - only the underlying figures are locked.
04
Credit & Compliance Intelligence
Why the scores are what they are
Credit Risk Score: 75/100 Low Risk
- Working-capital cover adequate.
- Profitable - internal accruals available.
- Externally credit-rated (A-).
Charges position: 1 open (2.00 cr) · 6 satisfied (907.54 cr).
Banking relationships (from registered charges)
| Lender | Charges | Amount |
|---|---|---|
| Axis Trustee Services Limited | 1 | 48.0 cr |
| Axis Bank Limited | 2 | 48.0 cr |
| Sbicap Trustee Company Limited | 1 | 48.0 cr |
| State Bank Of India | 1 | 48.0 cr |
| The Royal Bank Of Scotland N.V. | 1 | 48.0 cr |
| The Hongkong And Shanghai Banking Corporation Limited | 1 | 48.0 cr |
Compliance Score: 38/100 Caution Indicated
- Company status is Active as per MCA.
- Balance sheet slightly behind (Mar 2024).
- Flagged by authority: BSE.
- Litigation present in 3 court forum(s).
- 1 active GST registration(s).
Legal cases on record (3)
05
Director Intelligence
Stability score: 85/100| Name | DIN / PAN | Designation | Appointed | Tenure | DIN status |
|---|---|---|---|---|---|
| SUMIT KUMAR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| NISHA DUTT | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| SUMIT KUMAR | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| NISHA DUTT | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| RUPINDER GOEL | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
| MURALI KALYANARAMAN | 01234567 | Director | 01/04/2018 | 6 yrs | Approved |
- 6 directors on the board.
- No disqualified or deactivated DINs.
- 3 director exit(s) in the last 3 years.
Director & KMP remuneration (FY 2023)
| Name | Designation | Total remuneration |
|---|---|---|
| A K Sharma | Managing Director | 2.4 cr |
| R Mehta | Whole-time Director | 1.6 cr |
| S Iyer | CFO | 95.0 L |
Remuneration is disclosed in the latest annual return. Unlock full report
06
Ownership & Group Intelligence
As per FY 2023 annual returnPublic / other holding
35.73%
Equity shares
12,45,67,890
Equity paid-up
124.5 cr
Promoters on record
4
Ultimate holding entity
-
Subsidiaries
8
Group entities
8
Capital events
48 allotment(s) · 2 transfer(s)
Promoters hold a minority stake - exact percentages are part of the full report.
| Group entity | Relationship | % held |
|---|---|---|
| Subex (asia Pacific) Pte. Limited | Subsidiary Company | 74.00% |
| Subex (uk) Limited | Subsidiary Company | 74.00% |
| Subex Americas Inc. | Subsidiary Company | 74.00% |
| Subex Assurance Llp | Subsidiary Company | 74.00% |
| Subex Azure Holdings Inc. | Subsidiary Company | 74.00% |
| Subex Bangladesh Private Limited | Subsidiary Company | 74.00% |
| Subex Digital Llp | Subsidiary Company | 74.00% |
| Subex Inc. | Subsidiary Company | 74.00% |
| Subex Middle East (fze) | Subsidiary Company | 74.00% |
| Subex Account Aggregator Services Private Limited | Subsidiary Company | 74.00% |
Key managerial personnel: SUMIT KUMAR (CFO) · NISHA DUTT (CEO) · SUMIT KUMAR (CFO) · NISHA DUTT (CEO)
Full shareholding pattern, group structure & capital events →
07
Risk Intelligence Center
Growth 50 · Distress 75
Growth signals & trust indicators
Operating for 31+ years.
Active EPFO - real payroll on record.
Active GST registration(s).
Distress signals & risk flags
Revenue declined year-on-year.
Compliance score is weak (38/100).
1 open charge(s) registered - assets are encumbered.
3 court case(s) on record - see the legal section for details.
08
Stakeholder Verdicts
Vendor · Banker · InvestorVendor due diligence58/100
Review suggested
Suitability as a supplier / customer counterparty.
- Check the compliance flags before onboarding.
- 1 distress signal(s) - see Risk Center.
- Financial filings available for verification.
Banker assessment66/100
Mixed indicators - deeper appraisal suggested
Indicative lending comfort for banks, NBFCs and trade credit.
- Debt capacity assessed from filed statements.
- 1 open charge(s) of 2.00 cr already registered.
- Compliance gaps should be priced into terms.
Investor view64/100
Mixed indicators
Growth quality and scalability through an investor lens.
- No clear growth signals in the filed years.
- Margin and return trends computable from filings.
- Management team looks stable.
09
MCA Filings & Events Timeline
Latest 15 events29 Sep 2025
Last AGM held
Annual general meeting
04 Aug 2024
Director ceased
MURALI KALYANARAMAN
08 Jun 2024
Director appointed
NISHA DUTT (CEO)
10 May 2024
Director appointed
NISHA DUTT (CEO)
Director appointed
MURALI KALYANARAMAN (Director)
31 Mar 2024
Latest balance sheet
Filed with ROC
08 Aug 2023
Director appointed
RUPINDER GOEL (Director)
Director ceased
BOTTOLANDA ARCHANA MUTHAPPA
Director ceased
RUPINDER GOEL
18 Aug 2022
Charge created
The Hongkong And Shanghai Banking Corporation Limited - 2.00 cr
31 Jan 2022
Director appointed
SUMIT KUMAR (CFO)
10 Dec 2021
Director ceased
VENKATRAMAN GOPALASAMUDRAM SRINIVASAN
31 Mar 2021
Director ceased
VINOD KUMAR PADMANABHAN
25 Sep 2020
Director ceased
ANIL CHANDANMAL SINGHVI
07 Feb 2020
Director ceased
SHIVA SHANKAR NAGA RODDAM
10
Key Observations
Auto-generated from the data aboveRevenue grew 38% over the last 4 financial year(s).
Net profit margin moved from 1.42 to 2.1x.
Net worth is positive.
6 active director(s) / partner(s); board looks stable and experienced.
1 active GST registration(s) indicate ongoing business operations.
Operates a group structure with 8 subsidiary(ies) - assess on a consolidated basis.
Carries an external credit rating of A- from Crisil.
EPFO-registered employer - verifiable payroll history exists.
Promoters hold a minority stake as per the FY 2023 annual return.
Director / KMP remuneration is disclosed in the latest annual return - exact figures available in the full report.
Capital has been raised through 48 security allotment(s) - amounts available in the full report.
18 overseas direct investment(s) (ODI) on record - international footprint.
| Company | CIN | Location |
|---|---|---|
| Intelizign Lifecycle Services Private Limited | U72900KA2021PTC149705 | Bangalore, Karnataka, India |
| Srm Technologies Private Limited | U30009TN1999PTC042497 | Chetty Road,T.Nagar,Chennai-17, Tamil Nadu, India |
| Litmus7 | U72200KL2009PTC024392 | Kanayannur, Kerala, India |
| Thesmartq | U72900KA2015PTC080475 | Bengaluru, Karnataka, India |
| Torry Harris Integration Solutions | U72200KA1998PTC023511 | Bangalore, Karnataka, India |
| Flipspaces | U74999MH2015PTC266456 | Mumbai, Maharashtra, India |
| Evry | U72200KA2006PTC038899 | Bengaluru, Karnataka, India |
| Imerit | U72900KA2011PTC057594 | Bangalore, Karnataka, India |
12
Who Uses This Report
CA · CS · Banker · Investor · VendorChartered Accountants (CA)
Verify Subex before audits and certifications: compliance score 38/100, filing history, auditor history and charge records in one place - instead of pulling each MCA form separately.
Company Secretaries (CS)
Track statutory health of Subex: ACTIVE compliance status, annual-return recency, director DIN status, board churn and the events timeline - the inputs for secretarial audits and due-diligence certificates.
Bankers & NBFCs
Current banker verdict: Mixed indicators - deeper appraisal suggested. Credit risk score 75/100, existing charge position and lender relationships - a first-pass credit memo before formal appraisal.
Investors & Analysts
Investor view: Mixed indicators. Growth score 50/100, margin trends, ownership structure and peer set for Subex - screening before a deeper diligence.
Vendors & Procurement Teams
Vendor verdict: Review suggested. Trust score 69/100, distress signals and MSME payment-delay disclosures - know whether Subex pays its suppliers before you extend credit terms.
Lawyers & Compliance Teams
Litigation footprint (3 case(s) on record), regulatory flags, charge documents trail and director networks for Subex - groundwork for KYC, onboarding and disputes.
13
Frequently Asked Questions
Is Subex an active company?
Subex has MCA status “Active” with a compliance score of 38/100 (Caution Indicated).
Is Subex financially healthy?
Subex has a Financial Health Score of 75/100 (Low Risk) based on its filed financial statements.
Should I do business with Subex?
Its overall Trust Score is 69/100 (Moderate). Vendor verdict: Review suggested. Review the risk flags in the Risk Intelligence Center before deciding.
Who controls Subex?
Promoters hold a minority stake - exact percentages are in the full report. 6 active director(s) are on record.
Does Subex have loans or charges against its assets?
1 open charge(s) are registered against its assets, and 6 earlier charge(s) stand satisfied.
Is Subex up to date with its ROC filings?
Balance sheet slightly behind (Mar 2024). Overall compliance score: 38/100 (Caution Indicated).
Is it risky to lend to Subex?
Its Credit Risk Score is 75/100 (Low Risk). Banker verdict: Mixed indicators - deeper appraisal suggested.
Disclaimer: This report is generated automatically from MCA filings and public records as available
in our system at the time of the last update. Scores, bands and verdicts are rule-based derived indicators of the
underlying data - they are opinions generated by an algorithm, not statements of fact about the company, and are
not credit ratings (within the meaning of SEBI regulations), audits, or investment, legal or financial advice.
Verify from official sources and consult a qualified professional before any business, lending or investment decision.
If you represent this company and believe any information is inaccurate or outdated,
report it here and we will review promptly.
