Subex

Subex reported Q4 FY26 revenue of ₹72.96 croreCurrent reported value: ₹72.96 crore. No comparable prior figure is available in the source record., up 3Current 3. Reported change: +2 QoQ.% sequentially, with EBITDA at ₹10.58 croreCurrent reported value: ₹10.58 crore. No comparable prior figure is available in the source record. (14.5Current reported value: 14.5. No comparable prior figure is available in the source record.% margin) and PAT of ₹9.93 croreCurrent ₹9.93 crore. Reported change: +2 QoQ.. The full-year order intake grew 24%Current 24%. Reported change: +24% YoY., and the company added 70 croreCurrent 70 crore. Reported change: +₹70 crore YoY. in liquidity. Management emphasized that the transformation phase is complete, with a strong backlog and pipeline. Key drivers include AI-led product traction (FraudZap, agentic AI), new logo wins in North Africa and Middle East, and expansion of managed services into AI use cases. For FY27, the CEO is bullish, targeting a run-rate of ₹100 crore per quarterCurrent reported value: ₹100 crore per quarter. No comparable prior figure is available in the source record. as implementation cycles convert to subscription revenue. Risks include geopolitical uncertainty in the Middle East (31% revenue exposure) and GPU hardware constraints delaying commercial deployment of the team-of-LLMs product.