Integrated Filing — IndAS



General information about company

Scrip Code 532616
NSE Symbol XCHANGING
MSEI Symbol NOTLISTED
ISIN INE692G01013
Name of company Xchanging Solutions Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 21-05-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 14-05-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment Information Technology Services
Start date and time of board meeting 21-05-2026   12:30:00
End date and time of board meeting 21-05-2026   13:09:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Unaudited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 5,130.00 20,292.00
Other income 326.00 1,359.00
Total income 5,456.00 21,651.00
2 Expenses
(a) Cost of materials consumed 0.00 0.00
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0.00 0.00
(d) Employee benefit expense 1,406.00 6,058.00
(e) Finance costs 139.00 540.00
(f) Depreciation, depletion and amortisation expense 0.00 1.00
(f) Other Expenses
1 Project work expenses 1,525.00 6,068.00
2 Other expenses 292.00 1,314.00
Total other expenses 1,817.00 7,382.00
Total expenses 3,362.00 13,981.00
3 Total profit before exceptional items and tax 2,094.00 7,670.00
4 Exceptional items 0.00 0.00
5 Total profit before tax 2,094.00 7,670.00
6 Tax expense
7 Current tax 449.00 1,715.00
8 Deferred tax 21.00 10.00
9 Total tax expenses 470.00 1,725.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 1,624.00 5,945.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 1,624.00 5,945.00
17 Other comprehensive income net of taxes (32.00) 22.00
18 Total Comprehensive Income for the period 1,592.00 5,967.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 11,140.00 11,140.00
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 28,466.00
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 1.46 5.34
Diluted earnings (loss) per share from continuing operations 1.46 5.34
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 1.46 5.34
Diluted earnings (loss) per share from continuing and discontinued operations 1.46 5.34
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) Notes: 1.The consolidated audited financial results for the quarter and year ended March 31, 2026 have been prepared in accordance with Indian Accounting Standards ('Ind AS') prescribed under section 133 of the Companies Act, 2013 read with the relevant rules thereunder and in terms of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular dated July 5, 2016. 2.The above financial results of Xchanging Solutions Limited (the Company) and its subsidiaries (the Company and its subsidiaries together referred to as “the Group”) have been reviewed and recommended by the Audit Committee to the Board, and approved by the Board of Directors at their respective meetings held on May 21, 2026. The Audit of financial results for the year ended March 31, 2026 and limited review of financial results for the quarter ended March 31, 2026 have been completed by the statutory auditors of the Company and they have issued an unmodified report on the aforesaid results. 3.In accordance with Ind AS 108 - “Operating Segments” the Group has identified single operating segment viz., Information Technology (IT) services and accordingly the above results relate to this segment. 4.The figures for the current quarter and the quarter ended March 31, 2025 are the balancing figures between audited figures of the full financial year ended March 31, 2026 and March 31, 2025, respectively and published year to date figures upto the third quarter ended December 31, 2025 and December 31, 2024, respectively, which were subjected to limited review by the statutory auditors of the Company. The statutory auditors have performed a limited review on the results for the quarter ended March 31, 2026. 5.The Government of India notified the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively, the “Labour Codes”). These Labour Codes, which have become effective from November 21, 2025, consolidate and rationalise 29 labour laws and introduce, among other matters, a uniform definition of “Wages”. Also, the Labour Codes have modified certain employee benefits and eligibility conditions in respect of those benefits. Accordingly, during the year, the Company has amended its policies relating to employee benefits to align such benefits with the requirements of the Labour Codes. The changes include (i) alignment of the definition of Wages for social security contributions / provisions, and (ii) modifications to gratuity-related terms. Past service cost relating to gratuity amounting to Rs. 88 (including Rs. 3 for the quarter ended March 31, 2026) has been recognised immediately in the Statement of Profit and Loss and has been classified as a part of “Employee benefits expense. 6.The Board of Directors of the Company has considered and recommended final dividend of INR 2 per equity share (face value of INR 10 each) amounting to INR 2,228 for the financial year ended March 31, 2026 at their meeting held on May 21, 2026. The recommended final dividend on equity shares is subject to approval of shareholders at the ensuing annual general meeting.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 31-03-2026
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 1.00
Capital work-in-progress
Investment property
Goodwill 15,841.00
Other intangible assets 0.00
Intangible assets under development
Biological assets other than bearer plants
Investments accounted for using equity method
Non-current financial assets
Non-current investments 0.00
Trade receivables, non-current
Loans, non-current 0.00
Other non-current financial assets
Total of other non-current financial assets
Total non-current financial assets 0.00
Deferred tax assets (net)
Other non-current assets
1 Other non-current assets 197.00
2 Income tax assets (net) 1,669.00
Total of other non-current assets 1,866.00
Total non-current assets 17,708.00
2 Current assets
Inventories 0.00
Current financial asset
Current investments 0.00
Trade receivables, current 1,657.00
Cash and cash equivalents 31,100.00
Bank balance other than cash and cash equivalents 72.00
Loans, current 0.00
Other current financial assets
Total of other current financial assets 1,626.00
Total current financial assets 34,455.00
Current tax assets (net)
Other current assets
1 Other current assets 119.00
Total of other current assets 119.00
Total current assets 34,574.00
3 Non-current assets classified as held for sale
4 Regulatory deferral account debit balances and related deferred tax Assets
Total assets 52,282.00
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 11,140.00
Other equity 28,466.00
Total equity attributable to owners of parent 39,606.00
Non controlling interest
Total equity 39,606.00
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 4,741.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises
Total Trade payable
Other non-current financial liabilities
Total of other non-current financial liabilities
Total non-current financial liabilities 4,741.00
Provisions, non-current 129.00
Deferred tax liabilities (net) 856.00
Deferred government grants, Non-current
Other non-current liabilities
Total of other non-current liabilities
Total non-current liabilities 5,726.00
Current liabilities
Current financial liabilities
Borrowings, current 2,370.00
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 2.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 1,543.00
Total Trade payable 1,545.00
Other current financial liabilities
1 Other financial liabilities 436.00
Total of other current financial liabilities 436.00
Total current financial liabilities 4,351.00
Other current liabilities 213.00
1 Other current liabilities 213.00
Total of other current liabilities 213.00
Provisions, current 69.00
Current tax liabilities (Net) 2,317.00
Deferred government grants, Current
Total current liabilities 6,950.00
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 12,676.00
Total equity and liabilites 52,282.00
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-01-2026 01-04-2025
Date of end of reporting period 31-03-2026 31-03-2026
Whether results are audited or unaudited Unaudited Audited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Unaudited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Remeasurements gains/ (losses) on defined benefit plans (1.00) 18.00
Total Amount of items that will not be reclassified to profit and loss (1.00) 18.00
2 Income tax relating to items that will not be reclassified to profit or loss (1.00) 4.00
3 Amount of items that will be reclassified to profit and loss
1 Exchange differences in translating the financial statements of foreign operations (43.00) 11.00
Total Amount of items that will be reclassified to profit and loss (43.00) 11.00
4 Income tax relating to items that will be reclassified to profit or loss (11.00) 3.00
5 Total Other comprehensive income (32.00) 22.00



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 31-03-2026
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 7,670.00
Adjustments for reconcile profit (loss)
Adjustments for finance costs 540.00
Adjustments for decrease (increase) in inventories 0.00
Adjustments for decrease (increase) in trade receivables, current (297.00)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets 147.00
Adjustments for decrease (increase) in other non-current assets (19.00)
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current 94.00
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current (360.00)
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities (111.00)
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 1.00
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current (1.00)
Adjustments for provisions, non-current 16.00
Adjustments for other financial liabilities, current 156.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 10.00
Adjustments for dividend income 0.00
Adjustments for interest income 1,294.00
Adjustments for share-based payments 0.00
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) 2.00
Other adjustments for non-cash items 0.00
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) (1,116.00)
Net cash flows from (used in) operations 6,554.00
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 2,439.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 4,115.00
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 0.00
Purchase of property, plant and equipment 0.00
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 1,291.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (1.00)
Net cash flows from (used in) investing activities 1,290.00
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 0.00
Repayments of borrowings 2,201.00
Payments of lease liabilities 0.00
Dividends paid 2,228.00
Interest paid 539.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities (4,968.00)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 437.00
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 669.00
Net increase (decrease) in cash and cash equivalents 1,106.00
Cash and cash equivalents cash flow statement at beginning of period 29,994.00
Cash and cash equivalents cash flow statement at end of period 31,100.00





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 DELOITTE HASKINS & SELLS LLP Yes 31-07-2027