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Overview

Detailed Summary

R Systems International Limited is a global digital transformation and software product engineering services company focused on building AI-driven solutions, platform engineering, cloud migration and data capabilities for technology companies, vertical SaaS vendors, enterprises and private equity portfolio companies, leveraging its OptimaAI suite, AWS and Microsoft partnerships, and a presence across India, the Americas, Europe and APAC.
Trailing twelve months ACV bookings excluding renewals rose to $76.5 million, up from $57.4 million a year earlier, signaling improving new-business momentum and revenue visibility for R Systems International Limited, and indicating a pipeline that should support near-term revenue conversion if bookings-to-revenue cadence holds across 2026.
Financial momentum: CY2025 revenue was INR 19,582 million (US$224.8 million), up 12.4% YoY; adjusted EBITDA expanded to INR 3,427 million (17.5% margin) and adjusted net profit rose 24.6% YoY, with Q4 revenue of INR 5,551 million showing sequential acceleration and margin expansion supported by volume growth and rupee movement.
AI is now a material revenue influence: management reports ~40% internal OptimaAI adoption and roughly 27–30% of revenue either delivered as AI mandates or influenced by AI, with Novigo acquisition explicitly intended to accelerate enterprise-grade, agentic AI implementations and broaden R Systems International Limited’s TAM into larger enterprise engagements.
Key operational exposures and risks include geographic concentration to the Americas (~73% revenue), modest client concentration (top 10 clients ~25.2% of revenue), AR and unbilled balances ~INR 5,268 million with billed DSO ~56 days, and near-term cost impacts from labor-code provisions and acquisition-related expenses that management is actively managing.

Sector: IT - Services
Industry: IT Enabled Services
Market Cap: 2,880 Cr
Volatility: High Risk
P/E Ratio: 13.5
Industry P/E: 29.2
PEG Ratio: 0.2
P/B Ratio: 3.6
52W High: 496.95
52W Low: 230.15

Sales CAGR

1Y: 12.43%
3Y: 10.59%
5Y: 20.20%
10Y: 17.23%

Profit CAGR

1Y: 41.94%
3Y: 25.52%
5Y: 26.17%
10Y: 20.63%

ROE

TTM: 23.52%
3Y: 15.55%
5Y: 18.71%
10Y: 18.01%

ROCE

TTM: 22.39%
3Y: 19.19%
5Y: 21.89%
10Y: 21.28%

Technicals

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Peers

Information Technology Information Technology IT - Services IT Enabled Services

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
NPST		1646.00	3,194 Cr	78.25	7.25	0.13	9.27	12.32	8.03
SASKEN		2118.70	3,141 Cr	58.25	3.68	1.21	6.95	9.93	5.03
RSYSTEMS		252.25	2,880 Cr	13.52	3.64	5.14	23.52	22.39	10.13
ZAGGLE		209.15	2,623 Cr	18.99	1.87	0.00	9.83	13.06	8.93
PROTEAN		617.20	2,390 Cr	23.76	2.22	1.70	9.34	11.75	6.83
BCG		10.92	2,066 Cr	2.15	0.20	0.00	9.10	13.55	8.03
BLSE		227.50	2,048 Cr	35.62	3.92	0.44	11.00	17.69	9.09
Median: 7 Co.	—	252.25	2,623 Cr	23.76	3.64	0.44	9.34	13.06	8.03

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales	416	417	432	444	449	442	462	499	555	575
Expenses	353	363	370	376	378	372	392	427	462	474
Operating Profit	63	54	62	68	71	71	70	72	94	101
OPM %	15.09	12.92	14.45	15.37	15.72	15.94	15.19	14.46	16.85	17.50
Other Income	1.47	1.95	3.11	1.57	3.54	2.28	47	1.74	-22	20
Interest	2.89	2.84	2.00	1.61	1.95	1.49	2.14	3.72	6.82	9.59
Depreciation	17	17	17	17	16	15	16	17	19	22
Profit Before Tax	44	36	47	52	57	57	99	53	46	90
Tax %	-3.10	24.46	46.86	22.92	31.16	31.98	23.52	33.91	20.47	27.02
Net Profit	46	27	25	40	39	39	76	35	36	65
EPS in Rs	3.87	2.32	2.10	3.35	3.15	3.12	0.00	2.85	2.94	5.29

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025	TTM
Sales	593	700	809	881	1,156	1,516	1,685	1,742	1,958	1,798
Expenses	560	643	736	764	995	1,316	1,432	1,485	1,651	1,518
Operating Profit	33	57	73	116	161	200	252	257	307	280
OPM %	5.57	8.18	9.02	13.22	13.91	13.18	14.98	14.75	15.66	15.55
Other Income	16	19	15	11	42	10	11	8.31	29	54
Interest	0.40	0.27	1.57	5.67	4.91	4.90	8.95	8.40	14	7.19
Depreciation	13	14	15	26	28	35	54	65	66	63
Profit Before Tax	35	63	72	96	170	170	200	192	255	264
Tax %	36.24	18.57	19.20	14.99	16.84	17.91	29.95	31.50	27.03	26.86
Net Profit	23	51	58	82	141	140	140	131	186	193
EPS in Rs	—	—	—	—	—	—	—	—	—	11.08
Dividend Payout %	0.00	14.49	31.12	0.00	48.10	55.04	57.43	118.04	39.97	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Equity Capital	12	12	12	12	12	12	12	12	12	12
Reserves	266	259	311	326	415	448	534	600	612	780
Borrowings	1.91	1.59	1.59	5.31	8.36	58	77	131	73	410
Other Liabilities	103	119	119	149	214	174	210	572	519	901
Total Liabilities	383	392	443	493	650	692	833	1,315	1,216	2,102
Fixed Assets	77	44	42	70	109	12	154	625	569	1,123
CWIP	2.63	0.06	1.62	1.96	0.02	0.00	2.54	0.16	4.05	0.13
Investments	29	25	22	36	15	15	16	1.60	1.45	1.30
Other Assets	274	323	377	385	526	665	661	688	641	977
Total Assets	383	392	443	493	650	692	833	1,315	1,216	2,102

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operating Activity	44	37	31	64	125	87	96	211	235	220
Cash from Investing Activity	10	-58	-35	6.06	-38	21	-21	-223	15	-326
Cash from Financing Activity	-19	-0.56	-8.79	-46	9.73	-116	-86	-41	-216	209
Net Cash Flow	34	-22	-13	24	97	-7.41	-11	-52	34	103

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	May 2026
Promoters	51.93%	51.93%	51.93%	51.93%	51.93%	51.93%	51.90%	51.89%	51.89%	51.88%	51.85%	51.85%
FIIs	0.19%	0.25%	0.60%	0.59%	0.43%	3.99%	3.97%	3.57%	3.60%	3.55%	3.76%	3.88%
DIIs	0.69%	0.86%	1.11%	1.10%	1.72%	7.43%	8.66%	8.83%	8.95%	9.41%	8.60%	7.20%
Public	47.19%	46.97%	46.36%	46.38%	45.93%	36.64%	35.48%	35.71%	35.57%	35.15%	35.79%	37.07%
Total Shareholders	28,584	29,341	30,437	31,210	32,235	34,290	35,368	38,040	40,294	38,668	44,372	45,196

Market Transactions

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Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q4 FY26

Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

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