Xchanging Solutions logo

Xchanging Solutions CEO, chairman, board of directors and AGM

NSE: XCHANGINGBSE: 532616IT - SoftwareSmall Cap

Xchanging Solutions Limited · Formerly Cambridge Solutions · Face value ₹10 · Listed Mar 2005
Last close ₹57.01up ₹1.30 (2.33%)BSE ₹57.12

Share price at the NSE close on 27 Oct 2026. Previous close ₹55.71.

27 Oct: open ₹56.00, high ₹57.64, low ₹55.83

52-week range of traded prices to 27 Oct 2026
₹47.50Low, 30 Mar 2026₹103.00High, 30 Oct 2025
Market cap
₹635 Cr1,654th largest listed
P/E
10.45
P/B
1.60
Dividend yield
3.51%
ROE
16.1%
ROCE
15.0%
Debt to equity
0.18
Volume, NSE
40,01567.2% delivered

Xchanging Solutions' chairperson and managing director and CEO is Swaminathan Swaminathan, as filed for the quarter to Jun 2026. Its latest annual general meeting was on 15 Sep 2026.

Xchanging Solutions board of directors

At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • Chairperson and managing director and CEOSwaminathan Swaminathan
  • Company Secretary and Compliance OfficerRadhika Khurana

6 directors3 independent2 executive1 non-executive

  • Swaminathan Swaminathan · Chairperson and managing director and CEOExecutive · joined Mar 2025 · reappointed May 2025 · 1 listed board
  • Shrenik Kumar ChampalalExecutive · joined Mar 2018 · reappointed Mar 2024 · 1 listed board · 2 committee seats
  • Nonavinakeri Srinivasaiyengar RamaIndependent · joined Apr 2019 · reappointed Apr 2024 · 87 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • Kartik Ganapathy IyerNon-executive · joined Jun 2024 · reappointed Jul 2024 · 1 listed board · 1 committee seat
  • Pankaj VaishIndependent · joined May 2022 · reappointed Aug 2022 · 49 months as independent · 3 listed boards · 3 as independent · 7 committee seats, 1 as chair
  • Padmaja Priyadarshini B NIndependent · joined Feb 2026 · reappointed May 2026 · 4 months as independent · 3 listed boards · 3 as independent · 6 committee seats, 1 as chair

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

3 directors who left
  • Janaki Ashwin Patwardhan, left 14 Jan 2026: Others
  • Henry D Souza, left 25 May 2025: Tenure Completion
  • Nachiket Vibhakar Sukhtankar, left 3 Mar 2025: Others

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 23 Jun 20265 of 6 present3 independent · 32 days in between
    • 21 May 20266 of 6 present3 independent · 104 days in between
    • 5 Feb 20265 of 6 present3 independent

  • Audit Committee

    Chair Nonavinakeri Srinivasaiyengar Rama

    Shrenik Kumar Champalal, Pankaj Vaish, Padmaja Priyadarshini B N

    • 21 May 20264 of 4 present3 independent · 104 days in between
    • 5 Feb 20263 of 3 present2 independent

  • Nomination and remuneration committee

    Chair Pankaj Vaish

    Nonavinakeri Srinivasaiyengar Rama, Kartik Ganapathy Iyer, Padmaja Priyadarshini B N

    • 23 Jun 20263 of 4 present3 independent · 32 days in between
    • 21 May 20264 of 4 present3 independent · 104 days in between
    • 5 Feb 20262 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair Padmaja Priyadarshini B N

    Nonavinakeri Srinivasaiyengar Rama, Shrenik Kumar Champalal, Pankaj Vaish, Kartik Ganapathy Iyer

    • 21 May 20265 of 5 present3 independent · 104 days in between
    • 5 Feb 20263 of 4 present2 independent

  • Risk Management Committee

    Chair Shrenik Kumar Champalal

    Nonavinakeri Srinivasaiyengar Rama, Pankaj Vaish, Swaminathan Swaminathan

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair Padmaja Priyadarshini B N

    Nonavinakeri Srinivasaiyengar Rama, Shrenik Kumar Champalal, Pankaj Vaish, Kartik Ganapathy Iyer

    • 21 May 20265 of 5 present3 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • DELOITTE HASKINS & SELLS LLPPeer-review certificate valid to Jul 2027

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Xchanging Solutions AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Xchanging Solutions dividend history

Annual general meeting, 15 Sep 2026

74,192 shareholders on the register on 8 Sep 2026; present: 3 promoters and 47 others; votes counted by Ankush Agarwal / Maks & Co. Company Secretaries.

  1. Adoption of Audited Standalone and Consolidated Financial Statements
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.13%

    Turnout: all 75.18% · promoters 100.00% · institutions 17.09% · other public 0.73%

  2. Declaration of Final Dividend
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.13%

    Turnout: all 75.18% · promoters 100.00% · institutions 17.09% · other public 0.73%

  3. Appointment of Director in place of Mr. Swaminathan Swaminathan (DIN: 10976726), who retires by rotation and, being eligible, offers himself for re-appointment
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.13%

    Turnout: all 75.18% · promoters 100.00% · institutions 17.09% · other public 0.73%

  4. Appointment of Walker Chandiok & Co. LLP, as Statutory Auditors of the Company
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.13%

    Turnout: all 75.18% · promoters 100.00% · institutions 17.09% · other public 0.73%

  5. Re-appointment of Mr. Shrenik Kumar Champalal (DIN: 08099410) as Whole Time Director, designated as Executive Director of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 39.33% · other public 0.62%

    Turnout: all 75.18% · promoters 100.00% · institutions 17.09% · other public 0.73%

  6. Material Related Party Transaction(s) between Xchanging Solutions (USA) Inc., a Material Subsidiary of the Company and DXC Technology Services LLC
    OrdinaryPromoters have an interest in it
    99.88% for0.12% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.13%

    Turnout: all 0.18% · promoters 0.00% · institutions 17.09% · other public 0.73%

  7. Material Related Party Transaction(s) between Xchanging Solutions (USA) Inc, a Material Subsidiary of the Company and Xchanging Technology Services India Private Limited
    OrdinaryPromoters have an interest in it
    99.88% for0.12% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.13%

    Turnout: all 0.18% · promoters 0.00% · institutions 17.09% · other public 0.73%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 2 May 2026, 1 resolution

76,790 shareholders on the register on 27 Mar 2026; votes counted by ANKUSH AGARWAL / MAKS & CO..The company's voting result

  1. Appointment of Mrs. Padmaja Priyadarshini (DIN: 06416242) as “Non- Executive and Independent Director” of the Company.
    Special
    99.91% for0.09% against

    Against: promoters 0.00% · institutions 0.00% · other public 24.41%

    Turnout: all 75.29% · promoters 100.00% · institutions 3.65% · other public 1.11%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 12 Aug 2025, 8 resolutions

82,452 shareholders on the register on 5 Aug 2025; present: 2 promoters and 68 others; votes counted by Ankush Agarwal / Maks & Co. Company Secretaries.

  1. Adoption of Audited Standalone and Consolidated Financial Statements
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 9.72%

    Turnout: all 75.02% · promoters 100.00% · institutions 0.24% · other public 0.08%

  2. Declaration of Final Dividend of Rs 2/- per equity share (i.e., 20% of the face value) of face value of Rs 10/- each for the Financial Year ended March 31, 2025
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 9.19%

    Turnout: all 75.02% · promoters 100.00% · institutions 0.24% · other public 0.08%

  3. Appointment of Director in place of Mr. Kartik Ganapathy Iyer (DIN 09318280), who retires by rotation and being eligible offers himself for re-appointment
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 35.05%

    Turnout: all 75.02% · promoters 100.00% · institutions 0.24% · other public 0.08%

  4. Appointment of M/s. MAKS & CO., Company Secretaries in Practice, as Secretarial Auditors of the Company.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 9.77%

    Turnout: all 75.02% · promoters 100.00% · institutions 0.24% · other public 0.08%

  5. Appointment of Mrs. Janaki Ashwin Patwardhan (DIN: 09180182) as ‘Non-Executive and Independent Director’ of the Company.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 9.77%

    Turnout: all 75.02% · promoters 100.00% · institutions 0.24% · other public 0.08%

  6. Material Related Party Transaction(s) between Xchanging Solutions (USA) Inc. and DXC Technology Services LLC.
    OrdinaryPromoters have an interest in it
    85.92% for14.08% against

    Against: promoters 0.00% · institutions 0.00% · other public 14.62%

    Turnout: all 0.02% · promoters 0.00% · institutions 0.24% · other public 0.08%

  7. Material Related Party Transaction(s) between Xchanging Solutions (USA) Inc and Xchanging Technology Services India Private Limited.
    OrdinaryPromoters have an interest in it
    85.92% for14.08% against

    Against: promoters 0.00% · institutions 0.00% · other public 14.62%

    Turnout: all 0.02% · promoters 0.00% · institutions 0.24% · other public 0.08%

  8. Material Related Party Transaction(s) between Xchanging Solutions (USA) Inc and CSC Covansys Corporation.
    OrdinaryPromoters have an interest in it
    85.91% for14.09% against

    Against: promoters 0.00% · institutions 0.00% · other public 14.64%

    Turnout: all 0.02% · promoters 0.00% · institutions 0.24% · other public 0.08%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 28 May 2025, 2 resolutions

82,214 shareholders on the register on 25 Apr 2025; votes counted by ANKUSH AGARWAL / MAKS & CO..The company's voting result

  1. Appointment of Mr. Swaminathan Swaminathan (DIN: 10976726) as Director of the Company
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.78%

    Turnout: all 75.22% · promoters 100.00% · institutions 0.25% · other public 0.89%

  2. Appointment of Mr. Swaminathan Swamianthan (DIN: 10976726) as Managing Director & CEO of the Company
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 100.00% · other public 1.75%

    Turnout: all 75.22% · promoters 100.00% · institutions 0.25% · other public 0.89%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 24 Jul 2024, 9 resolutions

Present: 3 promoters and 75 others.

  1. To receive, consider and adopt: a)the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2024, together with the Reports of the Board of Directors and the Auditors thereon; and b)the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2024, together with the Report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.99%

    Turnout: all 75.23% · promoters 100.00% · institutions 13.71% · other public 0.63%

  2. To declare final dividend of Rs 4/- per equity share (including special dividend of Rs 2/- per equity share) of face value of Rs 10/- each for the financial year ended March 31, 2024
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.99%

    Turnout: all 75.23% · promoters 100.00% · institutions 13.71% · other public 0.63%

  3. To appoint a Director in place of Mr. Shrenik Kumar Champalal (DIN 08099410), who retires by rotation and being eligible, offers himself for re-appointment as a Director
    Ordinary
    99.90% for0.10% against

    Against: promoters 0.00% · institutions 100.00% · other public 1.47%

    Turnout: all 75.23% · promoters 100.00% · institutions 13.71% · other public 0.63%

  4. Re-appointment of Mr. Nachiket Vibhakar Sukhtankar (DIN: 08778377) as Managing Director & CEO of the Company for a period of three years
    Special
    99.90% for0.10% against

    Against: promoters 0.00% · institutions 100.00% · other public 1.40%

    Turnout: all 75.23% · promoters 100.00% · institutions 13.71% · other public 0.63%

  5. Appointment of Mr. Kartik Ganapathy Iyer(DIN:09318280) as a Non-Executive Non-Independent Director of the Company.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 1.09% · other public 1.11%

    Turnout: all 75.23% · promoters 100.00% · institutions 13.71% · other public 0.63%

  6. Material Related Party Transaction(s) between Xchanging Solutions (USA), Inc. and DXC Technology Services LLC
    OrdinaryPromoters have an interest in it
    99.24% for0.76% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.11%

    Turnout: all 0.23% · promoters 0.00% · institutions 13.71% · other public 0.63%

  7. Material Related Party Transaction(s) between Xchanging Solutions (USA), Inc. and Xchanging Technology Services India Private Limited
    OrdinaryPromoters have an interest in it
    99.24% for0.76% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.11%

    Turnout: all 0.23% · promoters 0.00% · institutions 13.71% · other public 0.63%

  8. Material Related Party Transaction(s) between Xchanging Solutions (USA), Inc. and CSC Covansys Corporation
    OrdinaryPromoters have an interest in it
    99.24% for0.76% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.11%

    Turnout: all 0.23% · promoters 0.00% · institutions 13.71% · other public 0.63%

  9. Material Related Party Transaction(s) between Xchanging Solutions (USA), Inc. and Computer Sciences Corporation
    OrdinaryPromoters have an interest in it
    99.24% for0.76% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.11%

    Turnout: all 0.23% · promoters 0.00% · institutions 13.71% · other public 0.63%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 20 Dec 2023, 1 resolution
  1. Approval for entering into the material related party transaction under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
    OrdinaryPromoters have an interest in it
    95.88% for4.12% against

    Against: promoters 0.00% · institutions 0.00% · other public 5.17%

    Turnout: all 0.35% · promoters 0.00% · institutions 18.04% · other public 1.13%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 25 Aug 2023, 7 resolutions

Present: 3 promoters and 80 others.

  1. To receive, consider and adopt:a. the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2023, together with the Reports of the Board of Directors and the Auditors thereon; and b. the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2023, together with the Report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.90%

    Turnout: all 75.34% · promoters 100.00% · institutions 16.75% · other public 1.10%

  2. To declare the Interim dividend for the financial year 2023-24.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.96%

    Turnout: all 75.34% · promoters 100.00% · institutions 16.75% · other public 1.10%

  3. To appoint a Director in place of Mr. Nachiket Vibhakar Sukhtankar (DIN 08778377), who retires by rotation and being eligible, offers himself for re-appointment as a Director.
    Ordinary
    99.90% for0.10% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.91%

    Turnout: all 75.34% · promoters 100.00% · institutions 16.75% · other public 1.10%

  4. Re-appointment of Mr. Shrenik Kumar Champalal (DIN: 08099410) as Whole Time Director (Executive Director) of the Company.
    Special
    99.90% for0.10% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.97%

    Turnout: all 75.34% · promoters 100.00% · institutions 16.75% · other public 1.10%

  5. Re-appointment of Mrs. Nonavinakeri Srinivasaiyengar Rama (DIN: 06720033) as Independent Director of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.91%

    Turnout: all 75.34% · promoters 100.00% · institutions 16.75% · other public 1.10%

  6. Adoption of new set of Memorandum of Association of the Company as per Companies Act, 2013
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.03%

    Turnout: all 75.34% · promoters 100.00% · institutions 16.75% · other public 1.10%

  7. Adoption of new set of Articles of Association of the Company
    Special
    99.90% for0.10% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.97%

    Turnout: all 75.34% · promoters 100.00% · institutions 16.75% · other public 1.10%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 3 Aug 2022, 3 resolutions

Present: 3 promoters and 61 others.

  1. To receive, consider and adopt (a) the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2022, together with the Reports of the Board of Directors and the Auditors thereon and (b)tthe Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2022, together with the Report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.11%

    Turnout: all 75.19% · promoters 100.00% · institutions 0.00% · other public 0.76%

  2. To appoint a Director in place of Mr. Shrenik Kumar Champalal (DIN 08099410), who retires by rotation and being eligible, offers himself for re-appointment as a Director
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.39%

    Turnout: all 75.19% · promoters 100.00% · institutions 0.00% · other public 0.76%

  3. Appointment of Mr. Pankaj Vaish (DIN 00367424) as an Independent Director of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.13%

    Turnout: all 75.19% · promoters 100.00% · institutions 0.00% · other public 0.76%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Tax disputes

Reported in the filing for the quarter to Jun 2026.

  • Tax disputeIncome Tax AuthoritySince 29 Jan 2024
    Income Tax Appellate Tribunal (ITAT), Bangalore, by its Order dated April 06, 2026, has partly allowed the appeal filed by the Company for Assessment Year 2011–12. The Hon’ble Tribunal has directed the learned Assessing Officer to recompute the transfer pricing adjustment as against the earlier assessed amount of ₹4,52,14,437, after excluding certain comparables while determining the arm’s length price.MoreLess
    At the filing before: The TPO has passed the order on 29.01.2024 with an adjustment of Rs.4,52,14,437. Based on Dispute Resolution Panel (DRP) direction, the TPO vide its letter dated 13.12.2024 has given Order Giving Effect (OGE) to DRP direction and has proposed adjustment of Rs.4,52,14,437. Accordingly, the Jurisdictional Assessing Officer passed the Final Assessment Order (“FAO”) dated 27.12 2024 and same was received on 30.12.2024.MoreLess

In the company's own words, from its latest governance filing.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved
00Dec 2400Mar 2500Jun 2500Sep 2500Dec 2500Mar 2600Jun 26

Open at the quarter's end

0Dec 240Mar 250Jun 250Sep 250Dec 250Mar 260Jun 26
None open at any quarter's end.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
No
The chair is related to the managing director
Yes
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.