Expleo Solutions Ltd(EXPLEOSOL)

NSE: EXPLEOSOLBSE: 533121

₹ 804-4.51%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 1,248 crWebsite: expleogroup.com/expleo-solutions/Updated: 26 Oct 2026

About

Expleo Solutions provides software validation and verification services, covering digital assurance, digital engineering and automation, and uses AI-powered platforms such as Sophia, CodePle and Quasar. It reported revenue of Rs 1,107.96 Cr in FY26, and BFSI clients accounted for 82.0% of revenue in Q1 FY27. The company had 213 active clients in Q1 FY27, and business from its parent group made up 35% of revenue in FY26.^[1][2][3]

Business mix

The company reports a single segment, software validation and verification. Standalone revenue in FY26 was 7,796.56 from outside India and 1,594.02 from within India, as printed in the annual report.^[1]
BFSI's share of revenue was 82.0% in Q1 FY27, against 80.2% in Q3 FY26 and 78.1% a year earlier.^[3][4]
Auto's share of revenue was 8.8% in Q3 FY26, down from 14.4% a year earlier.^[4]
In FY26, Engineering revenue fell 8.2% because of weakness in the auto industry, while Digitech revenue grew 12.8%.^[1]
Digital services made up 50.05% of the business in FY26, up from 48.09% in FY25. Digital revenue was Rs 1,445 mn (49.6%) in Q1 FY27.^[1][3]

Services and platforms

The company offers digital assurance, digital engineering and automation, using its AI-powered platforms Sophia, CodePle and Quasar (FY26).^[1]
Its Expleo.AI platform helps enterprises adopt AI and can run on-premises or on the Google, AWS and Azure clouds (FY26).^[1]
In Q2 FY26, BFSI growth came from AI-driven COBOL legacy modernisation and data analytics work.^[5]

Delivery and operations

Its offshore delivery centres are in Chennai, Coimbatore, Pune and Bangalore (FY26).^[1]
During FY26 the company closed its leased office premises in Coimbatore and Bengaluru.^[1]
Delivery headcount was 3,683 in Q1 FY27, up from 3,593 in Q4 FY26 and 3,541 in Q3 FY26.^[3][6][4]
Attrition was 15% in FY26, which the annual report says is below industry benchmarks. The gender ratio was 35:65.^[1]
The bench was kept below 6% in Q2 FY26.^[5]
The company holds ISO 9001, ISO 27001, AS 9100, ISO 17025, TISAX, PCI DSS and SSAE 18/ISAE3402 certifications. Its Pune software testing lab is ISO 17025 certified, and it is CERT-In empanelled as an information security auditor (FY26).^[1]

Key operating numbers

Constant-currency revenue fell 0.4% in FY26, which the annual report attributes to the auto slowdown. In Q2 FY26, constant-currency growth was 6% QoQ and 2.4% YoY.^[1][5]
Debtor days were 108 in Q1 FY27, against 96 in Q4 FY26 and 85 in Q3 FY26.^[3][6][4]

Clients and markets

Active clients numbered 213 in Q1 FY27, against 201 in Q4 FY26 and 199 in Q1 FY26.^[3]
Clients with more than $1 mn in revenue numbered 17 in Q1 FY27, up from 11 a year earlier.^[3]
The company added 42 new clients in FY26, against 27 the year before.^[1]
Revenue from the parent group stayed at 35% of total revenue in FY26. In Q2 FY26 the group/direct split was given as 30% / 70%.^[1][5]
Europe's share of revenue was 57.2% in Q1 FY27, up from 51.6% a year earlier. North America's share fell to 32.9% from 36.3%.^[3]
Middle East revenue was Rs. 1,319 Mn in FY26. The company has a fully operational entity in Saudi Arabia and is gaining traction in the UAE and Egypt.^[1]
One of its partnerships with an original equipment manufacturer passed 20 years in FY26.^[1]

Deal wins

In FY26 the company won a multi-year, multi-geography engagement with a major global payments technology leader, set up through that client's vendor consolidation, to establish a digital engineering centre of excellence.^[1]
In FY26 it signed a phased, multi-year partnership with a leading UAE bank to set up a digital assurance centre of excellence and provide AI assurance.^[1]

Strategy and plans

In Q2 FY26, management said it would make no further strategic investments in auto from 2026 and would focus on BFSI, insurance, retail/QSR and defence.^[5]
In Q2 FY26, management said it had shortlisted two acquisition targets and expected to decide on one of them in the next year's Q1.^[5]
The board approved setting up a wholly owned subsidiary in GIFT City, Gujarat, subject to IFSCA approval (FY26).^[1]
The company launched AI360, a mandatory AI literacy programme for all employees, and aims for 100% of employees to be AI-literate by the end of 2026.^[1][5]

Market Cap

₹1,248 Cr

High / Low

₹1,179 / 644

Stock P/E

9.1

Price / Book

1.6

Book Value

₹500

EPS

₹79.9

No. of Shares

1.55 Cr

ROCE

24.7%

ROE

17.6%

OPM

15.7%

Debt / Equity

0.00

Sales

₹1,108 Cr

Net Profit

₹124 Cr

Promoter holding

71.0%

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