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 01-04-2026
Date of end of financial year 31-03-2027
Date of board meeting when results were approved 30-10-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 23-10-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Second 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 Unaudited
Segment Reporting Single segment
Description of single segment IT services
Start date and time of board meeting 30-10-2026   11:34:00
End date and time of board meeting 30-10-2026   11:39:00
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 Not applicable



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 01-07-2026 01-04-2026
B Date of end of reporting period 30-09-2026 30-09-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 5,321.00 10,685.00
Other income 365.00 721.00
Total income 5,686.00 11,406.00
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 1,475.00 2,976.00
(e) Finance costs 109.00 218.00
(f) Depreciation, depletion and amortisation expense 0.00 0.00
(f) Other Expenses
1 Project work expenses 1,664.00 3,392.00
2 Other expenses 339.00 675.00
Total other expenses 2,003.00 4,067.00
Total expenses 3,587.00 7,261.00
3 Total profit before exceptional items and tax 2,099.00 4,145.00
4 Exceptional items 0.00 0.00
5 Total profit before tax 2,099.00 4,145.00
6 Tax expense
7 Current tax 585.00 1,107.00
8 Deferred tax (5.00) 7.00
9 Total tax expenses 580.00 1,114.00
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 1,519.00 3,031.00
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 1,519.00 3,031.00
17 Other comprehensive income net of taxes 56.00 50.00
18 Total Comprehensive Income for the period 1,575.00 3,081.00
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
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 1.36 2.72
Diluted earnings (loss) per share from continuing operations 1.36 2.72
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 1.36 2.72
Diluted earnings (loss) per share from continuing and discontinued operations 1.36 2.72
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) 1. The consolidated unaudited financial results for the quarter and six months ended September 30, 2026 have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 Interim financial Reporting, prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules thereunder and in terms of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular dated July 5, 2016. 2. The above consolidated 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 October 30, 2026. The Limited Review as required under Regulation 33 of SEBI (Listing Obligations and Disclosures Regulations) 2015 has been completed by the statutory auditors of the Company. 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.During the quarter ended September 30, 2026, the Group reassessed the deferred tax liability that had been recognised on Foreign Currency Translation Reserve (“FCTR”) arising on translation of foreign subsidiaries in earlier periods, considering that the Group controls the timing of reversal of the related temporary differences and they are not expected to reverse in the foreseeable future, and that the deferred tax liability relating to FCTR on certain underlying net investments in foreign operations that were settled in earlier periods. Accordingly, the net deferred tax liability of Rs 998 carried as at March 31, 2026 has been reversed in the current quarter, with a corresponding credit to FCTR, and deferred tax of Rs 4 recognised in other comprehensive income during the quarter ended June 30, 2026 has also been reversed in the current quarter through other comprehensive income. Management has assessed the overall effect of these matters as not material to the consolidated financial results, including comparative periods and accordingly, the adjustment have been made in the current quarter and the comparatives have not been restated. 5. The Board of Directors of the Company had considered and recommended final dividend of Rs 2 per equity share (face value of Rs 10 each) amounting to Rs 2,228 for the financial year ended March 31, 2026 at their meeting held on May 21, 2026 and the same was approved by the shareholders at their Annual General Meeting held on September 15, 2026. The aforesaid dividend was paid on September 25, 2026.



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 01-04-2026
Date of end of reporting period 30-09-2026
Whether results are audited or unaudited Unaudited
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) 130.00
Other non-current assets
1 Income tax assets (net) 1,613.00
2 Other non-current assets 197.00
Total of other non-current assets 1,810.00
Total non-current assets 17,782.00
2 Current assets
Inventories 0.00
Current financial asset
Current investments 0.00
Trade receivables, current 1,195.00
Cash and cash equivalents 30,088.00
Bank balance other than cash and cash equivalents 78.00
Loans, current 0.00
Other current financial assets
Total of other current financial assets 1,647.00
Total current financial assets 33,008.00
Current tax assets (net)
Other current assets
1 Other current assets 198.00
Total of other current assets 198.00
Total current assets 33,206.00
3 Non-current assets classified as held for sale
4 Regulatory deferral account debit balances and related deferred tax Assets
Total assets 50,988.00
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 11,140.00
Other equity 30,317.00
Total equity attributable to owners of parent 41,457.00
Non controlling interest
Total equity 41,457.00
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 4,791.00
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 4,791.00
Provisions, non-current 132.00
Deferred tax liabilities (net)
Deferred government grants, Non-current
Other non-current liabilities
Total of other non-current liabilities
Total non-current liabilities 4,923.00
Current liabilities
Current financial liabilities
Borrowings, current 0.00
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 1.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 1,406.00
Total Trade payable 1,407.00
Other current financial liabilities
1 Other financial liabilities 447.00
Total of other current financial liabilities 447.00
Total current financial liabilities 1,854.00
Other current liabilities 187.00
1 Other current liabilities 187.00
Total of other current liabilities 187.00
Provisions, current 66.00
Current tax liabilities (Net) 2,501.00
Deferred government grants, Current
Total current liabilities 4,608.00
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 9,531.00
Total equity and liabilites 50,988.00
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 01-07-2026 01-04-2026
Date of end of reporting period 30-09-2026 30-09-2026
Whether results are audited or unaudited Unaudited Unaudited
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 01-07-2026 01-04-2026
B Date of end of reporting period 30-09-2026 30-09-2026
C Whether results are audited or unaudited Unaudited Unaudited
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 12.00 22.00
Total Amount of items that will not be reclassified to profit and loss 12.00 22.00
2 Income tax relating to items that will not be reclassified to profit or loss 3.00 6.00
3 Amount of items that will be reclassified to profit and loss
1 Exchange differences in translating the financial statements of foreign operations 51.00 34.00
Total Amount of items that will be reclassified to profit and loss 51.00 34.00
4 Income tax relating to items that will be reclassified to profit or loss 4.00 0.00
5 Total Other comprehensive income 56.00 50.00



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2026
B Date of end of reporting period 30-09-2026
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 4,145.00
Adjustments for reconcile profit (loss)
Adjustments for finance costs 218.00
Adjustments for decrease (increase) in inventories 0.00
Adjustments for decrease (increase) in trade receivables, current 475.00
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets (61.00)
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current (62.00)
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current (153.00)
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities (32.00)
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 0.00
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 18.00
Adjustments for provisions, non-current 3.00
Adjustments for other financial liabilities, current 14.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 3.00
Adjustments for dividend income 0.00
Adjustments for interest income 705.00
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) (10.00)
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) (292.00)
Net cash flows from (used in) operations 3,853.00
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 895.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 2,958.00
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 10.00
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 772.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) investing activities 782.00
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 2,375.00
Payments of lease liabilities 0.00
Dividends paid 2,228.00
Interest paid 227.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities (4,830.00)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (1,090.00)
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 78.00
Net increase (decrease) in cash and cash equivalents (1,012.00)
Cash and cash equivalents cash flow statement at beginning of period 31,100.00
Cash and cash equivalents cash flow statement at end of period 30,088.00