RSSOFTWARE
R. S. Software (India) financials
- Market cap
- ₹75 Cr
- Sector
- Information Technology
- Calls analysed
- 2
RSSOFTWARE Q2 FY26
What went well
- Management stated: "We are profit positive, cash flow positive in spite of the fact that we have invested significantly into into enhancing our products."
- Management expressed confidence: "We feel confident that fiscal 27, fiscal 28 are going to be significantly ahead of fiscal 26 and we will be in a good position for our cash."
- Company confirmed: "integration of UPI with the 10 countries you're referring to with their real time payment rail. Has all been done by RS Software, so we are gaining revenue from the launch by NPCI of UPI integrated cross-border transactions."
What to watch
- Management acknowledged: "this fiscal performance has not been this good."
- Performance impacted by: "some of our projects that have got delayed in closing... causing. The revenue projections not to be met."
Guidance record · Q2 FY26
what the last two calls moved 5 tracked 0 delivered 2 missed 3 open- US Acceptance Deals Completion went quiet said Q4 FY25 Promised: The implementation cycle is expected to close around December or 25. Q2 FY26: No specific update provided on the US Acceptance deals, though general project delays were cited.
- FY26 Revenue Growth at risk said Q4 FY25 Promised: I do believe that we see our FY 26 to be a growth year. Q2 FY26: Management acknowledged fiscal performance has 'not been this good' and revenue projections were missed due to project delays.
- FY27 and FY28 Performance open said Q2 FY26 Promised: We feel confident that fiscal 27, fiscal 28 are going to be significantly ahead of fiscal 26 Q2 FY26: Guided for significant improvement in FY27 and FY28 after acknowledging FY26 struggles.
All 5 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue down 24.3%, net profit down 107.2% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 17 | 13 | 9 | 8 | 6 −65% | 5 −58% | 6 −31% | 6 −24% |
| EBITDA | 6 | 3 | -2 | -3 | -5 −183% | -6 −329% | -9 −427% | -4 −73% |
| Net profit | 5 | 2 | -2 | -4 | -6 −220% | -8 −502% | -11 −325% | -7 −107% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −58.0% 1Y
1Y: ₹70.59 on 10 Sept 2025 → ₹29.63. High ₹80.7 (23 Sept 2025), low ₹21.93 (30 Mar 2026).
How the price took the results
close before → close after
- Q2 FY26
- −5.0%
- 21 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue fell 35.0% a year over 2 years, FY24 to FY26. Operating margin narrowed to -89.7%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹60 Cr | ₹57 Cr | ₹25 Cr |
| Operating profit | ₹19 Cr | ₹14 Cr | ₹-23 Cr |
| Operating margin | 31.5% | 23.7% | -89.7% |
| Interest | ₹0 Cr | ₹0 Cr | ₹1 Cr |
| Depreciation | ₹5 Cr | ₹4 Cr | ₹6 Cr |
| Net profit | ₹18 Cr | ₹10 Cr | ₹-29 Cr |
| Net margin | 30.8% | 16.8% | -113.4% |
| Cash from operations | ₹16 Cr | ₹8 Cr | ₹-7 Cr |
| Free cash flow | ₹11 Cr | ₹1 Cr | ₹-16 Cr |
| ROCE | 44.0% | 18.0% | -52.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹13 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr |
| Reserves | ₹43 Cr | ₹26 Cr | ₹18 Cr | ₹36 Cr | ₹35 Cr | ₹16 Cr |
| Borrowings | ₹8 Cr | ₹0 Cr | ₹2 Cr | ₹2 Cr | ₹0 Cr | ₹15 Cr |
| Other liabilities | ₹8 Cr | ₹9 Cr | ₹10 Cr | ₹18 Cr | ₹16 Cr | ₹12 Cr |
| Total liabilities | ₹72 Cr | ₹48 Cr | ₹43 Cr | ₹68 Cr | ₹64 Cr | ₹56 Cr |
| Fixed assets | ₹15 Cr | ₹10 Cr | ₹10 Cr | ₹6 Cr | ₹14 Cr | ₹32 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹4 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹5 Cr | ₹8 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹52 Cr | ₹29 Cr | ₹32 Cr | ₹58 Cr | ₹50 Cr | ₹25 Cr |
| Total assets | ₹72 Cr | ₹48 Cr | ₹43 Cr | ₹68 Cr | ₹64 Cr | ₹56 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters added +0.18 pp while FIIs trimmed −0.14 pp. The shareholder count shrank 3% to 24,962.
- Promoters
- 40.9%
- FIIs
- 0.8%
- DIIs
- 0.1%
- Government
- 0.0%
- Public
- 58.3%
Since Jun 2025
- Promoters +0.18 pp
- FIIs −0.14 pp
- Public −0.05 pp
How it drifted, 12 quarters
Over this window FIIs fell from 1.9% to 0.8% — −1.2 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 40.7%, FIIs 1.9%, DIIs 0.1%, Government 0.0%, Public 57.3%.Dec '23: Promoters 40.7%, FIIs 1.9%, DIIs 0.1%, Government 0.0%, Public 57.3%.Mar '24: Promoters 40.7%, FIIs 1.0%, DIIs 0.1%, Government 0.0%, Public 58.3%.Jun '24: Promoters 40.7%, FIIs 1.0%, DIIs 0.1%, Government 0.0%, Public 58.2%.Sep '24: Promoters 40.7%, FIIs 3.2%, DIIs 0.4%, Government 0.0%, Public 55.7%.Dec '24: Promoters 40.5%, FIIs 3.3%, DIIs 0.1%, Government 0.0%, Public 56.1%.Mar '25: Promoters 40.5%, FIIs 1.2%, DIIs 0.1%, Government 0.0%, Public 58.2%.Jun '25: Promoters 40.7%, FIIs 0.9%, DIIs 0.1%, Government 0.0%, Public 58.3%.Sep '25: Promoters 40.9%, FIIs 0.8%, DIIs 0.1%, Government 0.0%, Public 58.3%.Dec '25: Promoters 40.9%, FIIs 0.8%, DIIs 0.1%, Government 0.0%, Public 58.2%.Mar '26: Promoters 40.9%, FIIs 1.0%, DIIs 0.1%, Government 0.0%, Public 58.1%.Jun '26: Promoters 40.9%, FIIs 0.8%, DIIs 0.1%, Government 0.0%, Public 58.3%.
Who is on the register
Named in the Jun 2026 filing
Every holder of R. S. Software (India) Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Rajnit Rai Jain | 39.46% | unchanged |
| Sarita Jain | 1.42% | unchanged |
| R Ramaraj | 1.40% | unchanged |
| Investor Education And Protection Fund Authority Ministry Of Corporate Affairs | 1.25% | unchanged |
| Bijal Pradip Desai | 1.24% | unchanged |
| P Ganesh Babu | 1.16% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (2)
Read the Q2 FY26 call →Learn to analyse R. S. Software (India) Limited
Guides on how to read this kind of business and the numbers that matter.