Allied Digital Services Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Solutions: 57.2% • Services: 42.8%
AI Sector View
AI GENERATEDInformation Technology
IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.
PROS
- Company has delivered good sales growth of 32.2% CAGR over last 5 years
- Working capital cycle has improved - days down from 268 to 161
- Company has a consistent dividend-paying track record
- Company maintains a comfortable, low leverage position
CONS
- Company is loss-making at the operating / net level
- Operating cash flow has been negative in recent years
- Recent results are weak - TTM profit is down 153.4% versus prior year
- Company has a low return on equity of 2.3% over last 3 years
- Company has a low return on capital employed of 4.9%
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.03x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TCS | 2312.00 | 16.80 | 836501.83 | 4.76 | 13420.00 | 4.69 | 72275.00 | 13.93 | 66.25 | 25.67 |
| INFY | 1128.00 | 15.11 | 457768.62 | 4.26 | 7775.00 | 12.29 | 48211.00 | 14.03 | 42.84 | 23.66 |
| HCLTECH | 1310.25 | 20.41 | 355557.97 | 4.12 | 4626.00 | 20.34 | 34579.00 | 13.94 | 31.20 | 19.87 |
| WIPRO | 176.60 | 13.23 | 174910.92 | 6.23 | 3356.30 | 0.59 | 24478.60 | 10.59 | 18.49 | 18.93 |
| TECHM | 1597.00 | 30.48 | 156527.36 | 3.19 | 1486.30 | 31.67 | 15711.90 | 17.68 | 23.04 | 17.43 |
| LTM | 4516.00 | 25.61 | 133954.19 | 1.66 | 1468.60 | 17.06 | 11608.00 | 17.96 | 30.25 | 17.75 |
| OFSS | 12050.00 | 30.75 | 104935.17 | 3.32 | 1415.50 | 120.52 | 3125.20 | 68.73 | 45.50 | 60.04 |
| PERSISTENT | 5624.00 | 46.13 | 88718.60 | 0.71 | 483.04 | 13.67 | 4303.23 | 29.09 | 35.09 | 16.19 |
| COFORGE | 1963.70 | 49.51 | 86987.61 | 0.80 | 531.70 | 49.19 | 5527.70 | 49.86 | 24.70 | 19.14 |
| MPHASIS | 2457.05 | 24.55 | 46899.54 | 2.52 | 489.51 | 10.82 | 4384.05 | 17.46 | 23.31 | 18.15 |
| LTTS | 3498.50 | 28.11 | 37111.23 | 1.66 | 3571.00 | 1029.71 | 29401.00 | 1014.73 | 27.70 | 18.65 |
| ADSL | 104.50 | 16.64 | 592.00 | 1.44 | 12.39 | -14.20 | 260.49 | 18.93 | 7.96 | 8.73 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 66 | 68 | 69 | 83 | 75 | 91 | 100 | 100 | 95 | 101 | 95 | 97 | 91 | |
| 58 | 57 | 58 | 70 | 66 | 81 | 90 | 114 | 87 | 91 | 83 | 124 | 84 | |
| Operating Profit | 8 | 11 | 11 | 13 | 9 | 10 | 10 | -14 | 9 | 9 | 12 | -27 | 8 |
| OPM % | 12.30% | 15.95% | 16.44% | 15.11% | 11.65% | 11.24% | 10.37% | -13.73% | 9.19% | 9.10% | 12.88% | -27.56% | 8.53% |
| 0 | 0 | 1 | 0 | 0 | 2 | 1 | 36 | 2 | 5 | 2 | 5 | 2 | |
| Interest | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 3 | 2 | 3 | 3 |
| Depreciation | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 10 | 3 | 3 | 3 | 3 | 3 |
| Profit before Tax | 5 | 8 | 9 | 9 | 5 | 8 | 6 | 11 | 5 | 9 | 9 | -28 | 9 |
| Tax % | 26.87% | 29.51% | 27.85% | 27.01% | 32.55% | 24.97% | 4.35% | 139.61% | -45.99% | 28.87% | 56.98% | 32.75% | 28.76% |
| Net Profit | 4 | 6 | 6 | 7 | 3 | 6 | 6 | -4 | 8 | 6 | 4 | -19 | 7 |
| 0.66 | 1.02 | 1.11 | 1.22 | 0.62 | 1.02 | 1.06 | -0.77 | 1.42 | 1.10 | 0.69 | -0.14 | 1.17 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 78 | 74 | 75 | 94 | 96 | 123 | 210 | 287 | 366 | 388 | 384 | |
| 49 | 43 | 49 | 72 | 76 | 102 | 190 | 244 | 350 | 384 | 381 | |
| Operating Profit | 29 | 31 | 27 | 22 | 20 | 21 | 20 | 43 | 16 | 4 | 2 |
| OPM % | 37.29% | 42.42% | 35.31% | 23.68% | 20.71% | 17.16% | 9.64% | 14.99% | 4.40% | 0.96% | 0.63% |
| 6 | -1 | 8 | 6 | 4 | 2 | 6 | 1 | 38 | 14 | 13 | |
| Interest | 15 | 5 | 9 | 6 | 3 | 3 | 3 | 5 | 7 | 11 | 11 |
| Depreciation | 14 | 16 | 14 | 14 | 13 | 13 | 10 | 8 | 18 | 11 | 11 |
| Profit before Tax | 7 | 10 | 11 | 8 | 8 | 8 | 13 | 31 | 30 | -5 | -1 |
| Tax % | 74.49% | 50.55% | 13.48% | 5.05% | 0.89% | 29.49% | 29.45% | 27.83% | 63.90% | 83.37% | -107.62% |
| Net Profit | 2 | 5 | 10 | 8 | 8 | 6 | 9 | 22 | 11 | -1 | -2 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 1.45 | 1.02 | -6.67 | 4.01 | 1.90 | -0.14 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 31.81% | 48.94% | 95.26% | 73.55% | 37.36% | 78.81% | -1046.76% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 14%
- 5 Years:
- 32%
- 3 Years:
- 23%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- 13%
- 5 Years:
- 8%
- 3 Years:
- -10%
- 1 Year:
- -37%
RETURN ON EQUITY
- 10 Years:
- 2%
- 5 Years:
- 2%
- 3 Years:
- 2%
- Last Year:
- 0%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 25 | 25 | 25 | 25 | 25 | 27 | 27 | 28 | 28 | 28 |
| 417 | 421 | 431 | 446 | 451 | 459 | 415 | 437 | 442 | 434 | |
| 91 | 84 | 65 | 54 | 54 | 46 | 51 | 56 | 66 | 108 | |
| Trade Payables | 28 | 40 | 29 | 41 | 34 | 19 | 18 | 39 | 100 | 166 |
| 55 | 44 | 52 | 37 | 38 | 41 | 39 | 44 | 80 | 47 | |
| Total Liabilities | 616 | 615 | 602 | 603 | 603 | 592 | 550 | 604 | 717 | 784 |
| 124 | 109 | 96 | 87 | 78 | 73 | 88 | 91 | 88 | 70 | |
| 239 | 238 | 237 | 237 | 236 | 157 | 156 | 156 | 86 | 207 | |
| 33 | 33 | 34 | 35 | 35 | 38 | 43 | 48 | 49 | 48 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 92 | 95 | 114 | |
| Cash & Bank | 12 | 18 | 12 | 6 | 14 | 10 | 21 | 11 | 27 | 16 |
| 208 | 217 | 222 | 238 | 240 | 314 | 242 | 206 | 372 | 329 | |
| Total Assets | 616 | 615 | 602 | 603 | 603 | 592 | 550 | 604 | 717 | 784 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 23 | 12 | 23 | 8 | 12 | 16 | 37 | -3 | 10 | -40 | |
| Cash from Investing | 2 | 9 | 4 | 2 | -2 | -7 | -13 | -3 | -12 | 4 |
| Cash from Financing | -24 | -16 | -31 | -17 | -3 | -9 | -10 | -4 | 2 | 35 |
| 1 | 5 | -5 | -9 | 8 | -4 | 12 | -10 | 0 | -1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 0.35 | 0.99 | 1.92 | 1.57 | 1.53 | 1.05 | 1.70 | 4.01 | 1.90 | -0.14 |
| Book Value (₹) | 88.14 | 88.96 | 90.88 | 93.76 | 94.03 | 89.69 | 80.71 | 84.01 | 83.43 | 81.85 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.50 | 0.75 | 1.00 | 1.25 | 1.50 | 1.50 | 1.50 |
| Cash EPS (₹) | 3.05 | 4.17 | 4.68 | 4.30 | 4.03 | 3.39 | 3.44 | 5.55 | 5.10 | 1.87 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 45.47% | 45.98% | 40.78% | 30.07% | 24.93% | 19.10% | 12.34% | 14.99% | 4.40% | 0.96% |
| Net Margin % | 2.25% | 6.71% | 12.80% | 8.41% | 8.08% | 4.64% | 4.43% | 7.74% | 2.93% | -0.21% |
| ROE % | 0.40% | 1.12% | 2.13% | 1.70% | 1.64% | 1.18% | 2.01% | 4.89% | 2.30% | -0.17% |
| ROCE % | 3.96% | 2.76% | 3.83% | 2.76% | 2.14% | 2.01% | 3.16% | 6.93% | 6.83% | 1.05% |
| 0.29% | 0.81% | 1.58% | 1.31% | 1.29% | 0.95% | 1.63% | 3.85% | 1.63% | -0.11% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 647 | 721 | 696 | 599 | 574 | 410 | 183 | 104 | 93 | 99 |
| Inventory Days | 156 | 162 | 162 | 134 | 132 | 108 | 70 | 58 | 48 | 46 |
| Payable Days | 533 | 2086 | 986 | 583 | 564 | 380 | 81 | 79 | 143 | 272 |
| 271 | -1203 | -127 | 150 | 142 | 138 | 172 | 83 | -1 | -128 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.22x | 0.18x | 0.14x | 0.11x | 0.12x | 0.09x | 0.11x | 0.12x | 0.12x | 0.24x |
| Interest Coverage (x) | 1.46x | 3.07x | 2.21x | 2.34x | 3.26x | 4.05x | 5.18x | 7.19x | 5.36x | 0.55x |
| 1.57x | 1.86x | 2.52x | 2.70x | 2.91x | 4.05x | 2.55x | 2.13x | 2.43x | 1.67x | |
| GROWTH | ||||||||||
| Revenue Growth % | -24.48% | -4.96% | 1.35% | 24.67% | 2.56% | 27.44% | 71.55% | 36.31% | 27.73% | 5.92% |
| Operating Profit Growth % | 0.37% | -3.89% | -10.11% | -8.08% | -14.96% | -2.38% | 10.81% | 70.43% | 23.37% | -65.86% |
| Net Profit Growth % | 300.00% | 182.95% | 93.37% | -18.07% | -1.52% | -26.77% | 63.80% | 138.20% | -51.67% | -107.55% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 136.22% | -52.59% | -107.53% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 34.65x | 99.18x | 0.00x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 1.66x | 2.26x | 1.07x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.08% | 0.79% | 1.72% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 18.41x | 20.08x | 31.67x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-01 - Allied Digital Services Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 01, 2026. Further, the company has informed the Exchange regarding voting results.
2026-09-01 - Allied Digital Services Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 01, 2026
2026-08-24 - As per the attachment
2026-08-24 - Allied Digital Services Limited has informed the Exchange that Record date for the purpose of Dividend is 28-Aug-2026.
2026-08-13 - Allied Digital Services Limited has informed the Exchange about Transcripts of Earnings Conference Call held on Friday, August 07, 2026, in respect of the financial results for the quarter ended June 30, 2026
2026-08-11 - Allied Digital Services Limited has informed the Exchange about Copy of Newspaper Publication regarding 32nd Annual General Meeting
2026-08-10 - Allied Digital Services Limited has informed the Exchange about Copy of Newspaper Publication of Notice of Special Window for Relodgement of Transfer Requests of Physical Shares
2026-08-10 - Allied Digital Services Limited has informed the Exchange about Copy of Newspaper Publication of unaudited Standalone and Consolidated Financial Results of the Company for the quarter ended June 30, 2026
2026-08-08 - Allied Digital Services Limited has informed the Exchange about Company has sent a letter providing weblink of the Annual Report for FY 2025 - 26 to those members who have not registered their e-mail addresses with the Company/Depositories
News
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