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R Systems International Limited
(RSYSTEMS)
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Rating:72Outperform
Price Target:
₹308.00
▼(-24.17% Downside)
Action:Reiterated
Date:10/01/26
The score is driven primarily by solid financial performance, led by improved profitability and steady growth, but tempered by the sharp increase in leverage and weaker operating cash conversion. Technicals are supportive in the near term (above key short/mid-term averages with positive MACD) but are less convincing longer term due to being below the 200-day average and somewhat stretched momentum. Valuation is a positive contributor thanks to a reasonable P/E and a strong dividend yield.
Positive Factors
Re-accelerating Revenue Growth
The return to stronger revenue growth indicates improving demand for the company’s IT services after a softer 2024. Continued expansion across software engineering, cloud, data, and digital transformation work can support a broader revenue base over the next several quarters.
Negative Factors
Sharp Increase in Leverage
The rapid increase in leverage reduces financial flexibility compared with the company’s previously conservative position. Higher debt can constrain capital allocation and make the business more sensitive to earnings volatility, financing costs, or weaker operating conditions over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Re-accelerating Revenue Growth
The return to stronger revenue growth indicates improving demand for the company’s IT services after a softer 2024. Continued expansion across software engineering, cloud, data, and digital transformation work can support a broader revenue base over the next several quarters.
Read all positive factors
R Systems International Limited (RSYSTEMS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹35.36B
Dividend Yield5%
Average Volume (3M)87.18K
Price to Earnings (P/E)17.2
Beta (1Y)0.89
Revenue Growth24.07%
EPS Growth-0.36%
CountryIN
Employees5,359
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)18.00
Shares Outstanding118,495,960
10 Day Avg. Volume239,186
30 Day Avg. Volume87,183
Financial Highlights & Ratios
PEG Ratio0.61
Price to Book (P/B)6.05
Price to Sales (P/S)2.45
P/FCF Ratio27.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)19.5
Revenue Forecast (FY)₹24.12B
R Systems International Limited Business Overview & Revenue Model
Company Description
Operating globally, R Systems International Limited is a prominent provider of information technology (IT) and business process outsourcing (BPO) services. Its extensive suite of solutions includes AWS-driven services, comprehensive 'campaign to c...
How the Company Makes Money
R Systems makes money primarily by delivering IT services and business process services to enterprise customers under commercial contracts. Key revenue streams typically include: (1) Software engineering and application services: fees for building...
R Systems International Limited Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
70
Positive
Cash Flow
68
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.91B | 19.58B | 17.42B | 16.85B | 15.16B | 11.56B |
| Gross Profit | 7.42B | 6.71B | 5.51B | 4.40B | 4.12B | 4.16B |
| EBITDA | 3.84B | 3.36B | 2.65B | 2.63B | 2.10B | 2.02B |
| Net Income | 2.13B | 1.86B | 1.31B | 1.40B | 1.40B | 1.41B |
Balance Sheet | ||||||
| Total Assets | 20.87B | 21.02B | 12.16B | 13.15B | 8.33B | 6.92B |
| Cash, Cash Equivalents and Short-Term Investments | 2.98B | 4.01B | 1.98B | 1.82B | 2.70B | 2.73B |
| Total Debt | 4.13B | 4.10B | 728.82M | 1.31B | 771.24M | 577.31M |
| Total Liabilities | 8.57B | 8.77B | 3.51B | 4.63B | 2.88B | 2.32B |
| Stockholders Equity | 10.37B | 7.92B | 6.24B | 6.11B | 5.45B | 4.60B |
Cash Flow | ||||||
| Free Cash Flow | 1.40B | 1.76B | 2.23B | 1.91B | 604.90M | 592.56M |
| Operating Cash Flow | 1.61B | 2.20B | 2.35B | 2.11B | 963.86M | 873.15M |
| Investing Cash Flow | -3.45B | -3.26B | 147.62M | -2.23B | -213.71M | 211.89M |
| Financing Cash Flow | 2.41B | 2.09B | -2.16B | -409.09M | -864.00M | -1.16B |
R Systems International Limited Technical Analysis
Positive
406.15
Price Trends
249.30
Positive
252.79
Positive
288.22
Negative
Market Momentum
6.26
Negative
62.75
Neutral
80.51
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RSYSTEMS, the sentiment is Positive. The current price of 406.15 is above the 20-day moving average (MA) of 250.24, above the 50-day MA of 249.30, and above the 200-day MA of 288.22, indicating a neutral trend. The MACD of 6.26 indicates Negative momentum. The RSI at 62.75 is Neutral, neither overbought nor oversold. The STOCH value of 80.51 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:RSYSTEMS.
R Systems International Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ₹47.24B | 11.59 | ― | 1.54% | 6.64% | 5.07% | |
72 Outperform | ₹35.36B | 17.19 | ― | 5.31% | 24.07% | -0.36% | |
65 Neutral | ₹48.47B | 22.02 | ― | 0.62% | 13.17% | 1.95% | |
59 Neutral | ₹46.98B | 20.94 | ― | 2.06% | 11.50% | 16.69% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹25.32B | 36.59 | ― | 1.51% | 68.15% | 66.19% |
* General Sector Average
IN:RSYSTEMS
R Systems International Limited
277.30
-126.76
-31.37%
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R Systems International Limited Corporate Events
R Systems declares second interim dividend and outlines TDS compliance for shareholders
Sep 27, 2026
R Systems International has announced that its board has declared a second interim dividend of Rs 8 per equity share with a face value of Re 1 for the financial year ending December 31, 2026. The company has set October 1, 2026 as the record date ...
R Systems Schedules Analyst Meetings at Mumbai Investor Conferences
Aug 7, 2026
R Systems International Limited, an India-based IT and IT-enabled services provider, operates from Greater Noida with a registered office in New Delhi and maintains listings on both NSE and BSE. Its engagement with analysts and institutional inves...
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.