Alldigi Tech Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Alldigi Tech Ltd trades at ₹813, in a downtrend and 40 weeks into that stage. That is −3.4% against its own 200-day average. It sits at 31% of a 52-week range of ₹718 to ₹1,019. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (6 weeks and counting).

Today the stock is in a downtrend — week 40 of stage 4, confirmed. At ₹813 it trades −3.4% versus its 200-day average and sits at 31% of its 52-week range (₹718–₹1,019).

Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved +588% while the NIFTY 500 moved +274% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (6 weeks and counting; last ahead the week of 2026-06-19) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 43rd percentile of its own range.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Alldigi Tech Ltd trades at 13.6× P/E, mid-range by its own standards (43rd percentile). Its long-run median P/E is 14.8×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 13.6× is mid-range by its own standards (43rd percentile), against a long-run median of 14.8× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

One caveat before moving on: margins are the best this company has ever printed — cheap against its own history on record margins is not the same thing as cheap. If profitability mean-reverts, today's multiple is higher than it looks.

Why the multiple sits where it does: over the past year annual EPS moved −1.3% against a −14.8% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +8.6%/yr price move, ~+34.3%/yr came from earnings growth and ~−25.7 pp from the multiple (compressing); over 10y, of the +11.1%/yr price move, ~+8.7%/yr came from earnings growth and ~+2.4 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

Stage: Turning around Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Alldigi Tech Ltd reads as turning around on its fundamental arc. Turning around — profit growth swung from −14.1% at the trough to +30.3%, a 3-quarter improving streak, ROCE holding at 28.0%. The read is built from 8 quarters across 4 curves, on partial evidence.

Why it matters: growth inflections are where re-ratings start — the curves say a turn is forming, so the question becomes whether the next quarters confirm it.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

4-Factor Sector Score

58.9/100 — rank 4 of 12 in IT Enabled Services · 81% evidence confidence

Alldigi Tech Ltd scores 58.9 out of 100 against the 12 companies it is compared with in IT Enabled Services, ranking 4. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 18.7 + 17.9 + 10.1 + 12.2 = 58.9. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Alldigi Tech Ltd reported ₹150 Cr of revenue in the Jun 26 quarter, +4.2% year on year. That is the 11th straight quarter of year-on-year growth. Over 10 years it has compounded at 9.9% a year. The last full year, FY26, came in at ₹599 Cr. The last four reported quarters add to ₹605 Cr.

Alldigi Tech Ltd reported ₹150 Cr of revenue in the Jun 26 quarter, +4.2% year on year. That is the 11th straight quarter of year-on-year growth. Over 10 years it has compounded at 9.9% a year. The last full year, FY26, came in at ₹599 Cr. The last four reported quarters add to ₹605 Cr.

FY26 revenue came in at ₹599 Cr (+9.7% on the year), capping 10 years at 9.9% compound. The latest quarter (Jun 26) printed ₹150 Cr, +4.2% year on year — the 11th consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +8.2% growth against the decade's 9.9% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +8.0% over the last 4 quarters against +11.0%/yr over the last 8 — stabilising; TTM profit +30.3% vs +3.7%/yr — accelerating.

→ Revenue grew — did margins hold as it scaled? Next: 28.0% this quarter (+3.0 pp YoY).

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Alldigi Tech Ltd's operating margin is 28.0% in the Jun 26 quarter, +3.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged −19.0% to 27.0%. The current quarter is running above every full year in that window.

Alldigi Tech Ltd's operating margin is 28.0% in the Jun 26 quarter, +3.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged −19.0% to 27.0%. The current quarter is running above every full year in that window.

The latest quarter's operating margin is 28.0%, +3.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −19.0%–27.0%, and FY26's 27.0% is the top of that band — a record year.

Why the margin moved: operating margin went +2.1 pp year on year while gross margin went +0.0 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.

→ Margins held — did that reach the bottom line? Next: profit +20.0% in the latest quarter.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Alldigi Tech Ltd earned ₹18.0 Cr of net profit in the Jun 26 quarter, +20.0% year on year. It is the 4th consecutive quarter of growth. Full-year FY26 profit was ₹82.0 Cr. The 10-year compound rate is 10.2%. That is 12.0% of the quarter's revenue. The same quarter a year earlier earned ₹15.0 Cr.

Alldigi Tech Ltd earned ₹18.0 Cr of net profit in the Jun 26 quarter, +20.0% year on year. It is the 4th consecutive quarter of growth. Full-year FY26 profit was ₹82.0 Cr. The 10-year compound rate is 10.2%. That is 12.0% of the quarter's revenue. The same quarter a year earlier earned ₹15.0 Cr.

Jun 26 profit was ₹18.0 Cr, +20.0% year on year — the 4th consecutive quarter of growth. On the full year, FY26 printed ₹82.0 Cr (−1.2%), and the 10-year compound rate is 10.2%.

Why profit moved: revenue contributed +4.2% and the margin +3.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit +31.9% vs revenue +8.2%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

→ Profit rose — but did the cash follow? Next: 154% of the last 3 years' profit arrived as cash.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 154% of Alldigi Tech Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹144 Cr of operating cash against ₹82.0 Cr of profit. After ₹162 Cr of capital spending, ₹−18.0 Cr was left as free cash.

FY26: operating cash of ₹144 Cr against reported profit of ₹82.0 Cr, leaving free cash of ₹−18.0 Cr after ₹162 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 154% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Why conversion sits at 154%: the cash cycle tightened 13 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: the bigger cash user is investment — capital spending ran 2.0× depreciation over three years, so the next section's job is to check what that build-out is buying.

→ So follow the cash to where it goes. Next: ₹273 Cr of building over 3 years.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Alldigi Tech Ltd's cash conversion cycle runs 42 days in FY26, down from 55 days in FY21. Capital spending ran ₹273 Cr over the last 3 years. At FY26 sales of ₹599 Cr each day of that cycle holds about ₹1.6 Cr, so roughly ₹69.0 Cr sits inside the business at any moment.

FY26: debtors at 42 days (an asset-light business — no inventory to speak of) — for a full cycle of 42 days, tighter than FY21's 55.

In money terms: at FY26 sales of ₹599 Cr, each day of the cycle holds about ₹1.6 Cr — so the 42-day loop keeps roughly ₹69.0 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹273 Cr over the last 3 fiscal years against ₹136 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹1.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 28% and the ROIC − WACC spread is +25.8 pp.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

Alldigi Tech Ltd earns a ROCE of 28% in FY26. That is up from a trough of −45% in FY14. Return on invested capital clears the cost of that capital by +25.8 percentage points, so growth here adds value rather than only size. The wiring behind it is 13.7% net margin on 1.15× asset turns.

FY26 ROCE is 28%, recovered from a FY14 trough of −45% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 13.7% net margin × 1.15× asset turns × 2.07× balance-sheet leverage ≈ 32.6% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 37.8% − 12.0% = a +25.8 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.68.

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

Alldigi Tech Ltd carries total debt of ₹171 Cr against shareholder equity of ₹251 Cr as of Jun 26, a debt-to-equity of 0.68. On the annual view that ratio went from 0.21 in FY22 to 0.68 in FY26. Read the returns elsewhere on this page with that leverage in mind.

Jun 26: total debt of ₹171 Cr against shareholder equity of ₹251 Cr — a debt-to-equity of 0.68. On the annual view, debt-to-equity went from 0.21 (FY22) to 0.68 (FY26). Read the returns on this page with that leverage in mind.

→ Who owns this, and are they adding or leaving? Next: the register is quiet.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of Alldigi Tech Ltd moved a full percentage point over the last two years — the register is quiet. Domestic institutions moved +0.3 points over the same window, to 1.6%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: +0.5 points over 8 quarters to 1.0%; Domestic institutions: +0.3 points over 8 quarters to 1.6%; Promoters: +0.0 points over 8 quarters to 73.4%.

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Alldigi Tech Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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