Nucleus Software Exports Limited (NUCLEUS) AI Stock Analysis

Nucleus Software Exports Limited

(NSE:NUCLEUS)

Select Model

Rating:63Neutral

Price Target:INR 663.00▲(6.28% Upside)

Action:reiterated

Date:09/12/26

The overall score of 63 reflects a balance of strong structural fundamentals against weak technical momentum. The company's exceptional, near-zero leverage balance sheet and reasonable valuation (P/E of 17.39) act as primary strengths. However, the score is notably weighed down by bearish price trends across all key moving averages and recent margin compression that has negatively impacted profitability.

Positive Factors

Recurring banking software modelThe company’s banking software model combines product fees with implementation, maintenance, support and ongoing professional services. Long-duration deployments can generate multi-year customer revenue, while module, geography and volume expansion may deepen relationships and support recurring business over the next several quarters.

Negative Factors

Growth has deceleratedThe shift from strong earlier growth to low single-digit revenue expansion indicates that business momentum has weakened. Slower growth can constrain operating leverage, reduce the pace of customer and product scaling, and make future earnings more dependent on successful wins or expansion within existing accounts.

Nucleus Software Exports Limited (NUCLEUS) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 17.18B
Dividend Yield: 1.95%
Average Volume (3M): 1,346
Price to Earnings (P/E): 16.3
Beta (1Y): 1.30
Revenue Growth: 1.66%
EPS Growth: -37.05%
Country: India
Employees: 1,954
Sector: General
Sector Strength: 55
Industry: Software - Application

Nucleus Software Exports Limited Business Overview & Revenue Model

Company Description

Nucleus Software Exports Limited, established in Noida, India, in 1986, is a prominent provider of essential software solutions for the financial services industry. The company delivers crucial lending and transaction banking products to clients span...

How the Company Makes Money

NUCLEUS primarily makes money by selling and supporting its banking software products to financial institutions. Key revenue streams typically include: (1) Software licensing or subscription fees for the use of its core platforms (often structured as...

Nucleus Software Exports Limited Financial Statement Overview

Summary

Nucleus Software Exports presents a mixed financial picture. The company boasts a pristine, virtually debt-free balance sheet. However, this is partially offset by margin compression and declining free cash flows despite steady top-line revenue growth.

Income Statement

52Neutral

Balance Sheet

92Very Positive

Cash Flow

68Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	8.69B	8.76B	8.32B	8.26B	6.34B	4.97B
Gross Profit	1.71B	2.09B	2.98B	3.31B	1.88B	765.00M
EBITDA	1.51B	1.29B	1.68B	2.71B	1.90B	716.70M
Net Income	1.05B	1.17B	1.63B	1.92B	1.28B	409.10M
Balance Sheet
Total Assets	0	12.66B	11.53B	11.14B	8.74B	7.37B
Cash, Cash Equivalents and Short-Term Investments	4.14B	4.14B	3.60B	4.01B	2.77B	3.41B
Total Debt	0	85.50M	20.00M	45.90M	62.60M	23.30M
Total Liabilities	-9.07B	3.59B	3.39B	3.37B	2.64B	2.43B
Stockholders Equity	9.07B	9.07B	8.14B	7.77B	6.11B	4.94B
Cash Flow
Free Cash Flow	0	915.70M	1.36B	1.93B	461.40M	334.30M
Operating Cash Flow	0	1.20B	1.51B	2.22B	498.40M	576.70M
Investing Cash Flow	0	-551.10M	-207.80M	-1.97B	-127.00M	1.59B
Financing Cash Flow	0	-365.00M	-1.26B	-301.60M	-226.50M	-2.13B

Nucleus Software Exports Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price623.80

Price Trends

50DMA686.41Negative

100DMA710.85Negative

200DMA757.76Negative

Market Momentum

MACD-7.09Negative

RSI40.76Neutral

STOCH39.28Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NUCLEUS, the sentiment is Negative. The current price of 623.80 is below the 20-day moving average (MA) of 652.07, below the 50-day MA of 686.41, and below the 200-day MA of 757.76, indicating a bearish trend. The MACD of -7.09 indicates Negative momentum. The RSI at 40.76 is Neutral, neither overbought nor oversold. The STOCH value of 39.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:NUCLEUS.

Nucleus Software Exports Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:NUCLEUS against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:NEWGEN	82Outperform	INR 63.05B	19.58	―	1.36%	6.49%	-3.73%
IN:KFINTECH	76Outperform	INR 146.08B	42.14	―	1.42%	26.83%	0.50%
IN:EMUDHRA	65Neutral	INR 28.25B	24.11	―	0.37%	29.74%	25.01%
IN:NUCLEUS	63Neutral	INR 16.94B	16.30	―	1.95%	1.66%	-37.05%
IN:INTELLECT	60Neutral	INR 70.88B	19.90	―	0.79%	16.99%	-12.47%
IN:RAMCOSYS	57Neutral	INR 19.08B	64.91	―	―	10.73%	236.66%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

IN:NUCLEUS and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:NUCLEUS	Nucleus Software Exports Limited	643.45	-375.81	-36.87%
IN:EMUDHRA	eMudhra Limited	341.10	-297.80	-46.61%
IN:INTELLECT	Intellect Design Arena Ltd	504.60	-683.25	-57.52%
IN:KFINTECH	Kfin Technologies Limited	845.00	-243.27	-22.35%
IN:NEWGEN	Newgen Software Technologies Limited	442.45	-541.23	-55.02%
IN:RAMCOSYS	Ramco Systems Limited	507.10	-115.65	-18.57%

Nucleus Software Exports Limited Corporate Events

Nucleus Software Grants 9,060 RSUs Under 2026 Equity Incentive Scheme

Aug 2, 2026

Nucleus Software Exports Limited has granted 9,060 restricted stock units under its Nucleus Software RSU Scheme 2026, each convertible into one equity share with a face value of Rs. 10. The grant, approved by the company’s Nomination and Remune...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Sep 12, 2026

Nucleus Software Exports Limited AI Stock Analysis