| Quarter | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 457 | 416 | 417 | 432 | 444 | 449 | 442 | 462 | 499 | 555 | 575 | 602 | |
Growth YoY Revenue Growth YoY% | 14.8 | 4.2 | 3.1 | 6.2 | -2.9 | 7.8 | 6.2 | 6.9 | 12.3 | 23.6 | 29.9 | 30.2 |
| 375 | 353 | 363 | 371 | 376 | 378 | 372 | 392 | 427 | 462 | 471 | 491 | |
| 82 | 63 | 54 | 61 | 68 | 71 | 71 | 70 | 72 | 94 | 104 | 111 | |
OPM OPM% | 18.0 | 15.1 | 12.9 | 14.2 | 15.4 | 15.7 | 15.9 | 15.2 | 14.5 | 16.9 | 18.0 | 18.4 |
| 0 | 1 | 2 | 4 | 2 | 4 | 2 | 47 | 2 | -22 | 17 | 1 | |
Interest Expense Interest ExpenseCr | 3 | 3 | 3 | 2 | 2 | 2 | 1 | 2 | 4 | 7 | 10 | 9 |
Depreciation DepreciationCr | 17 | 17 | 17 | 17 | 17 | 16 | 15 | 16 | 17 | 19 | 22 | 22 |
PBT PBTCr | 62 | 44 | 36 | 47 | 52 | 57 | 57 | 99 | 53 | 46 | 90 | 81 |
| 18 | -1 | 9 | 22 | 12 | 18 | 18 | 23 | 18 | 9 | 24 | 25 | |
| 44 | 46 | 27 | 25 | 40 | 39 | 39 | 76 | 35 | 36 | 65 | 56 | |
Growth YoY PAT Growth YoY% | 19.5 | 10.8 | -23.3 | 72.4 | -9.5 | -15.0 | 40.4 | 204.9 | -11.2 | -6.6 | 69.5 | -26.7 |
NPM NPM% | 9.6 | 11.0 | 6.6 | 5.8 | 9.0 | 8.7 | 8.7 | 16.4 | 7.1 | 6.6 | 11.4 | 9.2 |
| 3.7 | 3.9 | 2.3 | 2.1 | 3.4 | 3.3 | 3.3 | 6.4 | 3.0 | 3.1 | 5.5 | 4.7 |
| Quarter | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 457 | 416 | 417 | 432 | 444 | 449 | 442 | 462 | 499 | 555 | 575 | 602 | |
Growth YoY Revenue Growth YoY% | 14.8 | 4.2 | 3.1 | 6.2 | -2.9 | 7.8 | 6.2 | 6.9 | 12.3 | 23.6 | 29.9 | 30.2 |
| 375 | 353 | 363 | 371 | 376 | 378 | 372 | 392 | 427 | 462 | 471 | 491 | |
| 82 | 63 | 54 | 61 | 68 | 71 | 71 | 70 | 72 | 94 | 104 | 111 | |
OPM OPM% | 18.0 | 15.1 | 12.9 | 14.2 | 15.4 | 15.7 | 15.9 | 15.2 | 14.5 | 16.9 | 18.0 | 18.4 |
| 0 | 1 | 2 | 4 | 2 | 4 | 2 | 47 | 2 | -22 | 17 | 1 | |
Interest Expense Interest ExpenseCr | 3 | 3 | 3 | 2 | 2 | 2 | 1 | 2 | 4 | 7 | 10 | 9 |
Depreciation DepreciationCr | 17 | 17 | 17 | 17 | 17 | 16 | 15 | 16 | 17 | 19 | 22 | 22 |
PBT PBTCr | 62 | 44 | 36 | 47 | 52 | 57 | 57 | 99 | 53 | 46 | 90 | 81 |
| 18 | -1 | 9 | 22 | 12 | 18 | 18 | 23 | 18 | 9 | 24 | 25 | |
| 44 | 46 | 27 | 25 | 40 | 39 | 39 | 76 | 35 | 36 | 65 | 56 | |
Growth YoY PAT Growth YoY% | 19.5 | 10.8 | -23.3 | 72.4 | -9.5 | -15.0 | 40.4 | 204.9 | -11.2 | -6.6 | 69.5 | -26.7 |
NPM NPM% | 9.6 | 11.0 | 6.6 | 5.8 | 9.0 | 8.7 | 8.7 | 16.4 | 7.1 | 6.6 | 11.4 | 9.2 |
| 3.7 | 3.9 | 2.3 | 2.1 | 3.4 | 3.3 | 3.3 | 6.4 | 3.0 | 3.1 | 5.5 | 4.7 |
| Financial Year | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Mar 2020 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue RevenueCr | 588 | 593 | 700 | 809 | 809 | 881 | 1,156 | 1,516 | 1,685 | 1,742 | 1,958 | 2,230 |
Growth Revenue Growth% | -2.8 | 0.8 | 18.1 | 15.6 | 8.8 | 31.2 | 31.2 | 11.1 | 3.4 | 12.4 | 24.1 | |
| 518 | 560 | 643 | 736 | 736 | 764 | 995 | 1,316 | 1,432 | 1,485 | 1,651 | 1,850 | |
| 71 | 33 | 57 | 73 | 73 | 116 | 161 | 200 | 252 | 257 | 307 | 380 | |
OPM OPM% | 12.0 | 5.6 | 8.2 | 9.0 | 9.0 | 13.2 | 13.9 | 13.2 | 15.0 | 14.8 | 15.7 | 17.0 |
| 17 | 16 | 19 | 15 | 15 | 11 | 42 | 10 | 11 | 8 | 29 | -1 | |
Interest Expense Interest ExpenseCr | 1 | 0 | 0 | 2 | 2 | 6 | 5 | 5 | 9 | 8 | 14 | 30 |
Depreciation DepreciationCr | 12 | 13 | 14 | 15 | 15 | 26 | 28 | 35 | 54 | 65 | 66 | 80 |
PBT PBTCr | 76 | 35 | 63 | 72 | 72 | 96 | 170 | 170 | 200 | 192 | 255 | 269 |
| 22 | 13 | 12 | 14 | 14 | 14 | 29 | 30 | 60 | 60 | 69 | 77 | |
PAT PATCr | 54 | 23 | 51 | 58 | 58 | 82 | 141 | 140 | 140 | 131 | 186 | 193 |
Growth PAT Growth% | -45.1 | -58.0 | 126.5 | 13.9 | 40.7 | 72.9 | -1.2 | 0.3 | -6.4 | 41.9 | -0.3 | |
NPM NPM% | 9.1 | 3.8 | 7.3 | 7.2 | 7.2 | 9.3 | 12.2 | 9.2 | 8.3 | 7.5 | 9.5 | 8.6 |
| 4.2 | 1.9 | 4.1 | 4.8 | 4.8 | 6.8 | 11.8 | 11.8 | 11.8 | 11.1 | 15.7 | 16.3 |
| Financial Year | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Mar 2020 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue RevenueCr | 588 | 593 | 700 | 809 | 809 | 881 | 1,156 | 1,516 | 1,685 | 1,742 | 1,958 | 2,230 |
Growth Revenue Growth% | -2.8 | 0.8 | 18.1 | 15.6 | 8.8 | 31.2 | 31.2 | 11.1 | 3.4 | 12.4 | 24.1 | |
| 518 | 560 | 643 | 736 | 736 | 764 | 995 | 1,316 | 1,432 | 1,485 | 1,651 | 1,850 | |
| 71 | 33 | 57 | 73 | 73 | 116 | 161 | 200 | 252 | 257 | 307 | 380 | |
OPM OPM% | 12.0 | 5.6 | 8.2 | 9.0 | 9.0 | 13.2 | 13.9 | 13.2 | 15.0 | 14.8 | 15.7 | 17.0 |
| 17 | 16 | 19 | 15 | 15 | 11 | 42 | 10 | 11 | 8 | 29 | -1 | |
Interest Expense Interest ExpenseCr | 1 | 0 | 0 | 2 | 2 | 6 | 5 | 5 | 9 | 8 | 14 | 30 |
Depreciation DepreciationCr | 12 | 13 | 14 | 15 | 15 | 26 | 28 | 35 | 54 | 65 | 66 | 80 |
PBT PBTCr | 76 | 35 | 63 | 72 | 72 | 96 | 170 | 170 | 200 | 192 | 255 | 269 |
| 22 | 13 | 12 | 14 | 14 | 14 | 29 | 30 | 60 | 60 | 69 | 77 | |
PAT PATCr | 54 | 23 | 51 | 58 | 58 | 82 | 141 | 140 | 140 | 131 | 186 | 193 |
Growth PAT Growth% | -45.1 | -58.0 | 126.5 | 13.9 | 40.7 | 72.9 | -1.2 | 0.3 | -6.4 | 41.9 | -0.3 | |
NPM NPM% | 9.1 | 3.8 | 7.3 | 7.2 | 7.2 | 9.3 | 12.2 | 9.2 | 8.3 | 7.5 | 9.5 | 8.6 |
| 4.2 | 1.9 | 4.1 | 4.8 | 4.8 | 6.8 | 11.8 | 11.8 | 11.8 | 11.1 | 15.7 | 16.3 |
| Financial Year | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Mar 2020 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital Equity CapitalCr | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
Reserves ReservesCr | 266 | 259 | 311 | 326 | 326 | 415 | 448 | 534 | 600 | 612 | 780 | 1,086 |
| 89 | 110 | 108 | 124 | 124 | 150 | 164 | 198 | 368 | 259 | 470 | 404 | |
| 16 | 11 | 13 | 31 | 31 | 73 | 68 | 90 | 94 | 91 | 407 | 416 | |
| 383 | 392 | 443 | 493 | 493 | 650 | 692 | 833 | 1,315 | 1,216 | 2,102 | 2,110 | |
| 263 | 317 | 369 | 390 | 390 | 509 | 536 | 630 | 626 | 581 | 895 | 925 | |
| 120 | 75 | 74 | 103 | 103 | 141 | 157 | 203 | 688 | 635 | 1,207 | 1,185 | |
| 383 | 392 | 443 | 493 | 493 | 650 | 692 | 833 | 1,315 | 1,216 | 2,102 | 2,110 |
| Financial Year | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Mar 2020 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital Equity CapitalCr | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
Reserves ReservesCr | 266 | 259 | 311 | 326 | 326 | 415 | 448 | 534 | 600 | 612 | 780 | 1,086 |
| 89 | 110 | 108 | 124 | 124 | 150 | 164 | 198 | 368 | 259 | 470 | 404 | |
| 16 | 11 | 13 | 31 | 31 | 73 | 68 | 90 | 94 | 91 | 407 | 416 | |
| 383 | 392 | 443 | 493 | 493 | 650 | 692 | 833 | 1,315 | 1,216 | 2,102 | 2,110 | |
| 263 | 317 | 369 | 390 | 390 | 509 | 536 | 630 | 626 | 581 | 895 | 925 | |
| 120 | 75 | 74 | 103 | 103 | 141 | 157 | 203 | 688 | 635 | 1,207 | 1,185 | |
| 383 | 392 | 443 | 493 | 493 | 650 | 692 | 833 | 1,315 | 1,216 | 2,102 | 2,110 |
| Financial Year | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| 44 | 37 | 31 | 64 | 125 | 87 | 96 | 211 | 235 | 220 | |
| 10 | -58 | -35 | 6 | -38 | 21 | -21 | -223 | 15 | -326 | |
| -19 | -1 | -9 | -46 | 10 | -116 | -86 | -41 | -216 | 209 | |
Net Cash Flow Net Cash FlowCr | 34 | -22 | -13 | 24 | 97 | -7 | -11 | -52 | 34 | 103 |
Free Cash Flow Free Cash FlowCr | 30 | -28 | 16 | 46 | 108 | 60 | 62 | 193 | 228 | 218 |
CFO To PAT CFO To PAT% | 81.3 | 162.1 | 61.0 | 110.6 | 153.3 | 61.7 | 69.0 | 150.9 | 179.3 | 118.1 |
CFO To EBITDA CFO To EBITDA% | 61.8 | 110.6 | 54.4 | 88.1 | 107.7 | 54.3 | 48.3 | 83.8 | 91.6 | 71.7 |
| Financial Year | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| 44 | 37 | 31 | 64 | 125 | 87 | 96 | 211 | 235 | 220 | |
| 10 | -58 | -35 | 6 | -38 | 21 | -21 | -223 | 15 | -326 | |
| -19 | -1 | -9 | -46 | 10 | -116 | -86 | -41 | -216 | 209 | |
Net Cash Flow Net Cash FlowCr | 34 | -22 | -13 | 24 | 97 | -7 | -11 | -52 | 34 | 103 |
Free Cash Flow Free Cash FlowCr | 30 | -28 | 16 | 46 | 108 | 60 | 62 | 193 | 228 | 218 |
CFO To PAT CFO To PAT% | 81.3 | 162.1 | 61.0 | 110.6 | 153.3 | 61.7 | 69.0 | 150.9 | 179.3 | 118.1 |
CFO To EBITDA CFO To EBITDA% | 61.8 | 110.6 | 54.4 | 88.1 | 107.7 | 54.3 | 48.3 | 83.8 | 91.6 | 71.7 |
| Financial Year | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Mar 2020 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap Market CapitalizationCr | 710 | 578 | 609 | 842 | 994 | 1,445 | 3,839 | 3,003 | 6,491 | 5,502 | 4,778 | 2,832 |
Price To Earnings Price To Earnings | 13.1 | 25.5 | 11.9 | 14.4 | 17.1 | 17.6 | 27.1 | 21.5 | 46.3 | 41.9 | 25.6 | 14.7 |
Price To Sales Price To Sales | 1.2 | 1.0 | 0.9 | 1.0 | 1.2 | 1.6 | 3.3 | 2.0 | 3.9 | 3.2 | 2.4 | 1.3 |
Price To Book Price To Book | 2.5 | 2.1 | 1.9 | 2.5 | 2.9 | 3.4 | 8.3 | 5.5 | 10.6 | 8.8 | 6.0 | 2.6 |
EV To EBITDA EV To EBITDA | 8.5 | 13.0 | 8.3 | 9.6 | 11.7 | 10.3 | 22.8 | 14.3 | 25.3 | 20.9 | 15.9 | 7.7 |
GPM GPM% | 97.7 | 93.0 | 93.9 | 93.4 | 95.8 | 95.5 | 95.8 | 95.8 | 95.7 | 96.0 | 96.0 | |
OPM OPM% | 12.0 | 5.6 | 8.2 | 9.0 | 9.0 | 13.2 | 13.9 | 13.2 | 15.0 | 14.8 | 15.7 | 17.0 |
NPM NPM% | 9.1 | 3.8 | 7.3 | 7.2 | 7.2 | 9.3 | 12.2 | 9.2 | 8.3 | 7.5 | 9.5 | 8.6 |
ROCE ROCE% | 27.3 | 13.1 | 19.4 | 21.4 | 21.4 | 23.4 | 33.8 | 28.1 | 28.1 | 28.7 | 22.4 | 21.8 |
ROE ROE% | 19.3 | 8.3 | 15.8 | 17.2 | 17.2 | 19.2 | 30.7 | 25.6 | 22.9 | 21.0 | 23.5 | 17.6 |
ROA ROA% | 14.0 | 5.8 | 11.5 | 11.8 | 11.8 | 12.6 | 20.4 | 16.8 | 10.7 | 10.8 | 8.9 | 9.1 |
| Financial Year | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Mar 2020 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap Market CapitalizationCr | 710 | 578 | 609 | 842 | 994 | 1,445 | 3,839 | 3,003 | 6,491 | 5,502 | 4,778 | 2,832 |
Price To Earnings Price To Earnings | 13.1 | 25.5 | 11.9 | 14.4 | 17.1 | 17.6 | 27.1 | 21.5 | 46.3 | 41.9 | 25.6 | 14.7 |
Price To Sales Price To Sales | 1.2 | 1.0 | 0.9 | 1.0 | 1.2 | 1.6 | 3.3 | 2.0 | 3.9 | 3.2 | 2.4 | 1.3 |
Price To Book Price To Book | 2.5 | 2.1 | 1.9 | 2.5 | 2.9 | 3.4 | 8.3 | 5.5 | 10.6 | 8.8 | 6.0 | 2.6 |
EV To EBITDA EV To EBITDA | 8.5 | 13.0 | 8.3 | 9.6 | 11.7 | 10.3 | 22.8 | 14.3 | 25.3 | 20.9 | 15.9 | 7.7 |
GPM GPM% | 97.7 | 93.0 | 93.9 | 93.4 | 95.8 | 95.5 | 95.8 | 95.8 | 95.7 | 96.0 | 96.0 | |
OPM OPM% | 12.0 | 5.6 | 8.2 | 9.0 | 9.0 | 13.2 | 13.9 | 13.2 | 15.0 | 14.8 | 15.7 | 17.0 |
NPM NPM% | 9.1 | 3.8 | 7.3 | 7.2 | 7.2 | 9.3 | 12.2 | 9.2 | 8.3 | 7.5 | 9.5 | 8.6 |
ROCE ROCE% | 27.3 | 13.1 | 19.4 | 21.4 | 21.4 | 23.4 | 33.8 | 28.1 | 28.1 | 28.7 | 22.4 | 21.8 |
ROE ROE% | 19.3 | 8.3 | 15.8 | 17.2 | 17.2 | 19.2 | 30.7 | 25.6 | 22.9 | 21.0 | 23.5 | 17.6 |
ROA ROA% | 14.0 | 5.8 | 11.5 | 11.8 | 11.8 | 12.6 | 20.4 | 16.8 | 10.7 | 10.8 | 8.9 | 9.1 |
Documents — R Systems International Ltd
Concall Transcript Summaries — R Systems International Ltd