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Expleo Solutions Limited (EXPLEOSOL) Fair Value & Analysis

Technology · IN · Market cap ₹12.9B

ES Expleo Solutions Limited EXPLEOSOL · NSE
Price₹823.05
Fair Value₹1,598
Upside+94.1%
Quality70/100
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Healthy Growth
Solidly profitable · 11.2% net margin
Low debt · generates free cash flow
Ranks above peers (12/13)
Moderate moat 62/100
Evidence: High Range ₹1,198 – ₹1,997 Share as image

Fair value as of: Aug 2, 2026

From 26 valuation models · updated 11 days ago

A solid business, screening 94% undervalued on our models.

What matters now

  • The rarer combination: high quality (70/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (₹1,198). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

₹1,736 ₹500.34 Fair Value ₹1,598 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

60‑month range ₹500.34 – ₹1,736 · fair‑value band ₹1,198 – ₹1,997 · the ₹823.05 price screens below the ₹1,598 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Expleo Solutions Limited (EXPLEOSOL) currently trades at ₹823.05, while our model-based Fair Value estimate is ₹1,598, implying the stock looks roughly 94.1% undervalued today. The Quality Score stands at 70/100 (solid quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Expleo Solutions Limited generated revenue of ₹11.1B at a net margin of 11.2%. Revenue grew 11.9% year over year. It earns a return on equity of 17.6%. The balance sheet holds a net cash position of ₹3.7B. Fundamentals as of Aug 2, 2026

Our scenario range runs from ₹1,198 (bear case) to ₹1,997 (bull case); at ₹823.05, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 40% below its 52-week high and 29% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -25% fair-value upside, at 94%, EXPLEOSOL screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹1,367 ₹2,499 ₹4,268 80
Residual Income ₹526.23 ₹661.48 ₹1,552 76
Rev-Margin DCF ₹1,179 ₹1,937 ₹2,986 74
All 26 models by family
DCF Models
FCF DCF ₹1,396 ₹2,411 ₹4,764 38
Owner Earnings ₹1,598 ₹2,964 ₹5,556 31
5Y Revenue Exit ₹1,179 ₹1,965 ₹3,073 39
5Y EBITDA Exit ₹1,296 ₹2,224 ₹3,439 41
5Y P/E Exit ₹1,383 ₹2,413 ₹3,656 38
10Y Revenue Exit ₹1,210 ₹2,007 ₹3,322 36
10Y EBITDA Exit ₹1,321 ₹2,203 ₹3,648 37
10Y P/E Exit ₹1,380 ₹2,347 ₹3,842 35
Earnings-Based
Graham-Dodd ₹543.23 ₹3,092 ₹4,297 54
Lynch FV ₹869.01 ₹1,241 ₹1,614 50
PEG = 1.0 ₹869.01 ₹1,241 ₹1,614 46
EPV ₹874.53 ₹979.93 ₹1,072 59
Dividend Discount
Gordon GGM ₹459.09 ₹954.55 ₹1,514 70
DDM Multi-Stage ₹459.09 ₹804.90 ₹1,002 61
Multiples
P/E Multiple ₹1,198 ₹1,598 ₹1,997 63
P/S Multiple ₹1,019 ₹1,358 ₹1,698 58
P/B Multiple ₹1,019 ₹1,358 ₹1,698 55
EV/EBIT ₹1,474 ₹1,885 ₹2,296 53
EV/EBITDA ₹1,310 ₹1,666 ₹2,022 54
EV/Revenue ₹1,073 ₹1,429 ₹1,784 43
Asset-Based
NCAV (Graham) ₹250.10 ₹335.14 ₹500.21 50
Growth DCF
Growth DCF ₹1,367 ₹2,499 ₹4,268 80
Rev-Margin DCF ₹1,179 ₹1,937 ₹2,986 74
Economic Profit
Residual Income ₹526.23 ₹661.48 ₹1,552 76
ROIC Compounder ₹993.23 ₹1,288 ₹1,686 72
Growth Earnings
Growth-Adj P/E ₹1,264 ₹1,806 ₹2,348 68

Widest divergence: DCF Models (₹2,224) versus Asset-Based (₹335.14). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹11.1B
Revenue growth (YoY) +11.9%
Net margin 11.2%
Return on equity 17.6%
Free cash flow ₹1.3B FY2026
P/E ratio 10.4
More key figures
Operating margin 12.9%
EPS (TTM) ₹79.91
EPS growth (YoY) +73.2%
Net cash ₹3.7B FY2026

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 70/100

Of which business quality 70 · Market factors (momentum, volatility) 36

Profitability 71
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 60
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Expleo Solutions Limited, together with its subsidiaries, primarily provides software validation and verification services to the banking, financial services, and insurance industries worldwide.

Full company description

Expleo Solutions Limited, together with its subsidiaries, primarily provides software validation and verification services to the banking, financial services, and insurance industries worldwide. It offers computer programming, consultancy and related activities, quality management, software development, software testing, digital transformation, product and process engineering, quality & testing, and customer support and maintenance services. It also offers financial services. The company was formerly known as SQS India BFSI Limited and changed its name to Expleo Solutions Limited in April 2019. Expleo Solutions Limited was incorporated in 1998 and is based in Chennai, India. Expleo Solutions Limited Limited is a subsidiary of Expleo Technology Germany GmbH.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Expleo Solutions Limited reported revenue of ₹11.1B in FY2026 versus ₹7.4B in FY2022, a compound +10.5%/yr. Reported net income was ₹1.2B in FY2026, compounding +16.3%/yr from FY2022.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹11.1B
Latest YoY
+8.1%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+7.0%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+29.8%
Avg. growth/yr (18Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+16.2%
Revenue +10.5%/yr
FY22 ₹7.4B
FY23 ₹9.0B
FY24 ₹9.6B
FY25 ₹10.2B
FY26 ₹11.1B
Net income +16.3%/yr
FY22 ₹677M
FY23 ₹1.3B
FY24 ₹904M
FY25 ₹1.0B
FY26 ₹1.2B
Character of growth · EPS growth decomposed (2015-2026) +11.4 % p.a.
Revenue per share +12.4 pp

of which total revenue +17.3 pp · buybacks/dilution −4.8 pp

EBIT margin −3.8 pp
Tax rate +1.5 pp
Residual (interest, one-offs) +1.2 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Expleo Solutions Limited Fair Value". https://www.fairvalue-calculator.com/stock/EXPLEOSOL

Peer Group

Information Technology Services · 482 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 70 · Top 25%
Fair Value upside +94% · Top 25%
Return on equity (TTM) 18% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 13% · Top 25%
Revenue growth 12% · Above median

Valuation Multiples vs Information Technology Services median · lower = cheaper

P/E (TTM) 10.4× · Cheaper than 75% of peers
P/B 1.66× · Cheaper than median
P/S (TTM) 1.16× · Pricier than median
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 5.4× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 22
FUTURE 60 · sector 29
PAST 70 · sector 36
HEALTH 100 · sector 97
DIVIDEND 0 · sector 37

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM $235.92 $143.90 -39%
Accenture plc ACNN 2,460 MXN 300.07 MXN -88%
Infosys Limited INFY ₹1,156 ₹1,457 +26%
HCL Technologies Limited HCLTECH ₹1,204 ₹1,230 +2%
Wipro Limited WIPRO ₹178.43 ₹226.81 +27%
Tech Mahindra Limited TECHM ₹1,455 ₹1,086 -25%
Samsung SDS Co 018260 199,300 KRW 196,390 KRW -1%
Persistent Systems Limited PERSISTENT ₹5,059 ₹2,364 -53%
Hyundai Autoever Corporation 307950 393,000 KRW 133,088 KRW -66%
Coforge Limited COFORGE ₹1,541 ₹702.84 -54%

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Frequently asked questions

Is Expleo Solutions Limited (EXPLEOSOL) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of ₹1,598 versus a price of ₹823.05, about +94% (undervalued).
What is the fair value of EXPLEOSOL?
Our model-based fair value for Expleo Solutions Limited is ₹1,598 (as of Aug 2, 2026), built from audited fundamentals. The current price is ₹823.05.
What is the quality score of EXPLEOSOL?
Expleo Solutions Limited has a Quality Score of 70/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Expleo Solutions Limited (EXPLEOSOL)?
Expleo Solutions Limited reported trailing-twelve-month revenue of about ₹11.1B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of EXPLEOSOL?
The net profit margin of Expleo Solutions Limited is about 11.2%, meaning it keeps roughly 11.2% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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