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Stock Analysis

Description

Route Mobile Limited is a global Communications Platform as a Service (CPaaS) provider enabling enterprises, OTT players, and MNOs to deliver customer engagement solutions through messaging, voice, and email. It operates in the IT & ITeS sector.

Key Growth Triggers

Expansion into new markets and deepening presence in existing ones.
Growth in new-gen products and solutions, including omnichannel capabilities.
Leveraging strategic partnerships to enhance service offerings and market reach.
Monetization of network APIs and adoption of CAMARA standardization.
Focus on combating A2P messaging fraud and enhancing security.

Order Book

Currently no data available for Order Book.

Key Red Flags

Recent quarters have been impacted by significant exceptional items, primarily vendor advance write-offs, leading to net losses.
Stock is trading at a high Price-to-Book value (3.43x).
Past returns on equity have been moderate (around 10-12%).

Key Dates To Watch

Upcoming Board Meetings for financial results announcement and potential interim dividends.
Investor/Analyst calls following financial results.
Future regulatory filings and compliance updates.

Corporate Announcements

8th Apr 26

Impact Rating: 7

Route Mobile's Chief Corporate Marketing Officer, Milind Pathak, has been relieved from duties effective April 08, 2026. The departure is due to personal family reasons, including the need to support his family.

6th Apr 26

Impact Rating: 6

Route Mobile Limited is conducting a shareholder satisfaction survey via email to understand investor experience and enhance company services.

2nd Apr 26

Impact Rating: 3

Route Mobile Limited has submitted its compliance certificate to stock exchanges for the quarter ended March 31, 2026. Registrar KFin Technologies confirms no shareholder requests for share dematerialization or re-materialization were received during this period.

30th Mar 26

Impact Rating: 6

Route Mobile Limited shareholders overwhelmingly approved the appointment of Mr. Seckin Arikan as Chairman, Non-Executive Non-Independent Director via postal ballot with a high majority.

30th Mar 26

Impact Rating: 7

Route Mobile's postal ballot results show shareholders approved Mr. Seckin Arikan's appointment as Director (Chairman, Non-Executive Non-Independent). The resolution passed with a strong 99.80% vote in favour, concluding the e-voting on March 30, 2026.

Peer Comparision

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	Railtel Corpn.	371.00	36.81	11906.81	0.77	76.07	5.40	951.36	12.79	21.84	3771.07	15.14	323.44	87.37	5.64	6.84	0.03
2.	Route Mobile	695.15	31.49	4379.28	1.58	32.92	-31.42	180.27	-13.86	16.33	777.66	12.68	139.08	32.92	3.39	10.00	0.00
3.	Megasoft	203.05	10.86	1497.90	0.00	0.56	103.93	0.00	–	8.74	0.00	–	137.89	0.56	5.34	-8.20	0.01
4.	STL Networks	22.26	–	1086.11	0.00	-19.29	-481.98	230.79	-35.27	–	1179.72	6.26	-31.95	-19.29	1.26	–	0.96
5.	GTL	7.96	–	125.21	0.00	-39.47	-411.88	55.40	-20.73	–	232.06	0.84	-54.13	-29.13	–	-5.09	–
6.	Steelman Telecom	94.00	–	90.96	0.00	-8.97	18.08	116.82	15.09	-8.61	246.26	2.16	-0.80	-2.81	2.83	-6.87	2.74
7.	Nettlinx	18.20	8.22	44.00	0.00	-5.28	-225.86	5.33	-26.58	19.53	29.20	10.07	5.35	-0.73	0.74	11.40	0.21
–	Median: 5 Co.	203.05	31.49	1497.9	0.0	0.56	-31.42	180.27	-17.3	16.33	777.66	9.47	137.89	0.56	4.37	0.88	0.02

Quarterly Results

Standalone figures in ₹ crores

	Dec 2022	Dec 2023	Dec 2024	Jun 2023	Jun 2024	Jun 2025	Mar 2023	Mar 2024	Mar 2025	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales	132	174	206	146	208	183	129	185	208	142	161	209	180
Expenses	124	156	183	135	182	167	119	160	165	137	141	183	165
Operating Profit	8	18	24	11	26	16	10	25	43	4	20	26	16
Other Income	44	41	19	21	17	27	16	11	-5	10	27	39	33
Profit before tax	48	54	39	28	38	40	22	31	35	10	42	61	44
Tax %	18%	17%	25%	19%	25%	23%	26%	25%	25%	26%	17%	21%	26%
Net Profit	39	45	29	23	28	30	17	24	26	8	35	48	33
EPS in Rs	6.30	7.18	4.61	3.64	4.49	4.83	2.67	3.75	4.09	1.24	5.60	7.62	5.23

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	77	105	188	168	195	374	407	376	334	536	667	832	778
Expenses	65	90	144	133	175	359	392	346	319	499	592	712	679
Operating Profit	12	15	45	36	20	15	14	30	15	37	75	121	99
Other Income	1	2	4	40	4	4	5	12	35	90	100	68	75
Interest	1	1	1	1	1	2	3	2	2	2	2	2	2
Depreciation	2	3	3	5	6	5	6	10	15	15	17	15	14
Profit before tax	10	14	45	70	18	13	10	30	33	110	156	172	157
Net Profit	7	9	29	52	11	9	8	22	28	90	126	131	118
EPS in Rs	36.40	42.80	14.62	10.32	2.19	1.79	1.51	3.87	4.40	14.39	20.12	20.80	18.76
Dividend Payout %	0%	0%	75%	0%	69%	84%	99%	52%	113%	76%	55%	53%	–

Balance Sheet

Standalone figures in ₹ crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	2	2	20	50	50	50	50	58	63	62	63	63	63
Reserves	17	24	8	30	34	34	24	287	1,162	1,064	1,126	1,196	1,229
Borrowings	2	6	0	18	25	21	41	12	15	13	11	6	6
Other Liabilities	6	14	55	26	50	117	209	233	88	131	172	404	201
Total Liabilities	28	45	84	124	159	221	324	589	1,328	1,271	1,371	1,669	1,499
Fixed Assets	6	6	10	17	14	11	13	37	60	54	58	47	44
Gross Block	11.07	14.02	20.05	30.32	32.64	34.71	40.84	75.24	113.20	121.57	142.54	142.53	–
Accumulated Depreciation	4.84	7.60	10.39	13.06	18.86	23.52	27.76	38.15	52.82	67.44	84.30	95.45	–
CWIP	0	0	0	0	0	2	0	1	0	1	0	0	0
Investments	0	0	1	14	24	35	38	49	55	53	52	54	55
Other Assets	21	39	74	92	122	173	273	502	1,213	1,162	1,261	1,568	1,399
Total Assets	28	45	84	124	159	221	324	589	1,328	1,271	1,371	1,669	1,499

Cash Flows

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	6	6	68	-25	-25	25	39	94	-177	-6	18	258
Cash from Investing Activity	-5	-5	-35	26	9	-9	-11	-202	-593	169	20	-67
Cash from Financing Activity	-0	0	-33	14	-2	-15	-9	215	830	-209	-63	-68
Net Cash Flow	0	2	1	16	-18	1	19	106	61	-46	-26	123

Ratios

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	25	58	31	51	99	94	100	95	122	109	140	111
Inventory Days	0	0	0	0	0	0	0	0	0	0	0	0
Days Payable	–	–	–	–	–	–	–	–	–	–	–	–
Cash Conversion Cycle	25	58	31	51	99	94	100	95	122	109	140	111
Working Capital Days	13	28	-68	-29	27	2	-54	-76	318	336	277	91
ROCE %	–	54%	154%	112%	18%	13%	23%	13%	5%	10%	14%	16%

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	58.43%	58.32%	58.32%	58.15%	58.15%	57.99%	83.11%	74.90%	74.86%	74.86%	74.86%	74.86%
FIIs	21.11%	20.30%	21.34%	21.76%	21.59%	15.83%	5.75%	6.65%	4.73%	4.45%	3.60%	2.98%
DIIs	7.21%	8.15%	6.81%	5.50%	5.99%	5.83%	1.04%	6.14%	7.87%	8.12%	7.86%	7.19%
Public	13.23%	13.25%	13.53%	14.56%	14.26%	20.35%	10.10%	12.29%	12.48%	12.56%	13.68%	14.96%