Nucleus Software Exports Ltd(NUCLEUS)

NSE: NUCLEUSBSE: 531209

₹ 647.95-1.05%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 1,706 crNext results: 31 Oct 2026Website: www.nucleussoftware.comUpdated: 24 Oct 2026

About

Nucleus Software Exports Ltd is an Indian fintech software products company that sells lending and transaction banking platforms - FinnOne Neo® and FinnAxia® - to banks and financial institutions. Its solutions serve 200+ institutions across 50 countries, managing $1.2+ trillion in loans globally and over 26 million transactions per day. The company reported revenue of ₹876.03 crore and PAT of ₹116.74 crore in FY26.^[1][2]

Geographic segments

India: 58.3% of revenue (₹510.81 cr) in FY26, up 27.5 percentage points since FY18.^[3]
South East Asia: 11.5% of revenue (₹100.95 cr) in FY26, down 10.3 pp since FY18; EBIT margin -26.0%.^[3]
Middle East: 11.4% of revenue (₹100.23 cr) in FY26; EBIT margin 13.6%.^[3]
Europe: 4.5% of revenue (₹39.85 cr) in FY26; EBIT margin 39.4%.^[3]
Far East: 3.6% of revenue (₹31.31 cr) in FY26, down 11.5 pp since FY18; EBIT margin 17.2%.^[3]
Australia: 2.2% of revenue (₹19.49 cr) in FY26; EBIT margin 27.4%.^[3]

Products

FinnOne Neo® is the flagship AI-enabled digital lending platform; GA 9.0 - the 19th+ major release - launched in Q1 FY27 with embedded AI across the lending life cycle.^[4][1]
FinnOne Neo® GA 8.0, the 18th released version, introduced AI-powered automation across Customer Acquisition (CAS), Loan Management (LMS), and Debt Collections; it includes 540+ ready APIs.^[1]
FinnAxia® is an integrated global transaction banking suite handling 26 million+ transactions per day and $15 trillion+ in yearly transaction value.^[1]
FinnOne Neo® for Islamic Finance supports Shariah-compliant products including Murabaha, Ijarah, Commodity Murabaha (Tawarruq) and Istisna.^[1]
PaySe® is described as the world's first online and offline digital payment solution.^[1]
Nucleus has developed 600+ APIs supporting Open Banking, ISO 20022, and other international protocols, and has executed 30+ major product releases over the past decade.^[1]

Operations and development centres

Primary software development centre is at Noida (U.P.) under the Software Technology Park Scheme; subsidiary Nucleus Software Ltd. operates from a Special Economic Zone at Mahindra World City, Jaipur.^[1]
Seven wholly-owned subsidiaries: Singapore, USA, Japan, Netherlands, India, Australia, and South Africa.^[1]
Headcount was 2,059 as of Q1 FY27, with attrition at 3%.^[4]

Key operating metrics

Order book reached a record INR 1,244 crore as of 30 June 2026 (Q1 FY27), of which 88% (INR 1,096 cr) is product business, up from INR 1,044 crore at 31 March 2026.^[4]
Product revenue was 83.9% of consolidated revenue in Q1 FY27.^[4]
Top-5 client revenue concentration eased to 28.1% in Q1 FY27 from 29.3% in Q4 FY26.^[4]
DSO rose to 63 days in Q1 FY27 from 42 days in Q4 FY26; receivables jumped to INR 174.7 crore from INR 121.1 crore.^[4]
Approximately 50% of the installed customer base had migrated to FinnOne Neo as of Q3 FY26; the remaining migration is described as a 3 - 4 year journey.^[5]
Foreign exchange earnings from software products and services were ₹288.67 crore (38% of revenue) in FY25, down from ₹328.26 crore (43%) in FY24.^[1]

Customers and distribution

200+ banks and financial institutions across 50 countries; lending platform manages $1.2+ trillion in loans globally with 500,000+ daily user logins.^[1]
80 - 90% of revenues in Q2 FY26 came from existing customers via annuity and change requests.^[6]
~10 new logos added in the 15 months to Q1 FY27, including 7 in FY26 versus 3 in FY25.^[4][7]
India: 56% of Q1 FY27 revenue; Middle East: 12%; South Asia: 11%; Europe: 5%.^[4]
Bajaj Finance exited as a customer in FY26 after it made a strategic investment in a competing firm.^[7]

Expansion and new geographies

A subsidiary was established in Vietnam in or before Q4 FY26 to explore Southeast Asian growth prospects.^[7]
One US order won in the auto-finance segment; management intends to build beyond the existing GM Financial relationship.^[4]
Middle East: at least two orders were postponed in Q4 FY26 due to the regional war situation.^[7]

Recent developments

September 2026: Nucleus received a GST Show Cause Notice from the State Tax Deputy Commissioner, Gautambuddha Nagar, U.P., for a demand of ₹17.49 crore (including interest of ₹6.92 crore and penalty of ₹0.96 crore) for FY 2022-23.^[8]
Q1 FY27: FinnOne Neo GA 9.0 launched with embedded AI capabilities across the lending life cycle; the company described its enterprise AI foundation as now in place.^[4]
Q4 FY26: Dr. Apurva Chamaria joined as Chief Business Officer, overseeing all sales, partnerships, and account management.^[7]
Q4 FY26: Q4 saw 600+ crore of new orders signed in a single quarter, described as the largest order intake in a quarter; Q1 FY27 added a further 300+ crore.^[4]
An in-house AI-enabled transformation toolkit was developed to detect and map legacy FinnOne customisations to FinnOne Neo capabilities, aiming to accelerate customer migrations.^[7]

Market Cap

₹1,706 Cr

High / Low

₹1,065 / 610

Stock P/E

16.9

Price / Book

2.0

Book Value

₹345

EPS

₹44.4

No. of Shares

2.63 Cr

ROCE

20.1%

ROE

13.6%

OPM

18.4%

Debt / Equity

0.00

Sales

₹876 Cr

Net Profit

₹117 Cr

Promoter holding

73.6%

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Nucleus Software Exports Ltd(NUCLEUS)

About

Geographic segments

Products

Operations and development centres

Key operating metrics

Customers and distribution

Expansion and new geographies

Recent developments

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