Must Grab - Subex Ltd

1. Telecom software product company Subex reported a five-fold increase in profits to Rs 58.7 cr during the fourth quarter of FY16.
2. The company has converted Rs 447 cr of its foreign currency convertible bond (FCCB) debt to equity from the total outstanding amount of Rs 492 cr.
3. The conversion of bonds helped to clean up the balance sheet and free up cash and the company will see a huge impact on margins going forward due to FCCB conversion.