Sector Alpha Week of 2026-07-31
Sector Alpha — machine-written from the numbers · Data as of 2026-07-31

Allied Digital Services Ltd

ADSL
IT - Software

Allied Digital Services Ltd's earnings have outrun its stock. EPS grew +27.6% in a year against a −27.2% price move.

The sharpest disagreement: annual EPS moved +27.6% against a −27.2% price move — the market has not yet caught up with the delivery.

The price is in a downtrend (71 weeks in) while the P/E sits at the 57th percentile of its own 11-year range. Underneath, the last four quarters read improving, and 230% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.

Stage
Mixed
partial read
Price
₹115
−27.2% 1Y
P/E
18.1×
57th pctile
of its own 11-year range
Revenue (Mar 26)
₹268 Cr
+31.0% YoY
Profit (Mar 26)
₹−3.4 Cr
Operating margin
−3.8%
+0.8 pp YoY
ROCE
7%
FY26
ROIC
4.7%
vs WACC 12.0% → −7.3 pp
Cash conversion
230%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified. PEG is the exception: the ratio and its quarterly curve are not drawn at all. PEG asks what is being paid for growth — both sides of that division come from the source that could not be checked, so it is withheld instead of marked.
01 · Price story

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.

Allied Digital Services Ltd trades at ₹115, in a downtrend and 71 weeks into that stage. That is −14.7% against its own 200-day average. It sits at 21% of a 52-week range of ₹92 to ₹199. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (5 weeks and counting).

Today the stock is in a downtrend — week 71 of stage 4, confirmed. At ₹115 it trades −14.7% versus its 200-day average and sits at 21% of its 52-week range (₹92–₹199).

Jul 26: ₹115 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
−14.7% versus the 200-day line, week 71 of stage 4
Price50-day avg200-day avg
S2S4₹311₹252₹193₹134₹75.5₹115₹134Jul 23May 24Feb 25Nov 25Jul 26
S2S4₹311₹252₹193₹134₹75.5₹115₹134Jul 23Feb 25Jul 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (546 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Mar 16Jul 26

Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +173% while the NIFTY 500 moved +276% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (5 weeks and counting; last ahead the week of 2026-07-01) — 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.

02 · Valuation

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.

Allied Digital Services Ltd trades at 18.1× P/E, mid-range by its own standards (57th percentile). Its long-run median P/E is 16.2×, measured across 10.5 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 18.1× is mid-range by its own standards (57th percentile), against a long-run median of 16.2× measured over 10.5 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 18.1× vs a 16.2× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 10.5-year window; loss-period spikes above 49× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
mid-range by its own standards (57th percentile)
P/EMedianEPS (TTM) (quarterly)
52.3×₹12.139.2×₹9.126.1×₹6.013.1×₹3.00.0×₹0.0×18.00×₹6Feb 16Jun 19Nov 21Apr 24Jul 26
52.3×₹12.139.2×₹9.126.1×₹6.013.1×₹3.00.0×₹0.0×18.00×₹6Feb 16Nov 21Jul 26
P/E
18.1×
57th percentile of 11y

Why the multiple sits where it does: over the past year annual EPS moved +27.6% against a −27.2% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +10.3%/yr price move, ~+10.5%/yr came from earnings growth and ~−0.2 pp from the multiple (roughly flat); over 10y, of the +12.9%/yr price move, ~+18.8%/yr came from earnings growth and ~−5.9 pp from the multiple (compressing). 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.

The PEG ratio and its quarterly curve, which only the second data source carries, are 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.

03 · Stage: Mixed

Stage: Mixed 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).

Allied Digital Services Ltd reads as mixed on its fundamental arc. Mixed — revenue growth is rising at +31.0% (single-quarter readings) while profit growth is falling at −21.5% (single-quarter readings) — the curves disagree, so the per-curve reads carry the story. The read is built from 10 quarters across 3 curves, on partial evidence.

Growth, year by year: revenue +20.0% in FY26, profit +12.5% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn. Turnaround-year spikes shown pinned (▲).
Revenue YoYProfit YoYEPS YoY
41%333%28%214%14%96%0.0%−23%−13%−141%%%20%12.5%FY16FY21FY26
41%333%28%214%14%96%0.0%−23%−13%−141%%%20%12.5%FY16FY21FY26
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Where the trailing-twelve-month history is short, the curve falls back to single-quarter year-on-year growth — noisier, and the classifier smooths and caps base-effect spikes before reading. Base-effect spikes shown pinned (▲). A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue stabilising, profit accelerating
RevenueProfitEPS
34%336%24%205%15%73%5.2%−59%−4.3%−190%%%31%−21.5%24.1%Jun 23Sep 24Mar 26
34%336%24%205%15%73%5.2%−59%−4.3%−190%%%31%−21.5%24.1%Jun 23Sep 24Mar 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
13%12%10%8.3%6.5%%7%FY23FY24FY26
13%12%10%8.3%6.5%%7%FY23FY24FY26
Revenue growth
Rising
latest +31.0% · span −1.7% to +30.0%
Profit growth
Falling
latest −21.5% · span −51.4% to +51.4%
ROCE
Falling
latest 7.0% · span 7.0%–13.0%

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

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.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+20.0%+13.6%+22.0%+15.1%
Profit+12.5%+72.6%+13.6%+24.6%
EPS+27.6%+70.9%+10.7%+22.4%
Share price−27.2%−7.1%+10.3%+12.9%
Revenue YoY (Mar 26)
+31.0%
latest quarter vs a year ago
Revenue 10y
15.1%
long-run compound pace
04 · 4-Factor Sector Score

4-Factor Sector Score

38.2/100 — rank 47 of 63 in IT - Software · 62% evidence confidence

Allied Digital Services Ltd scores 38.2 out of 100 against the 63 companies it is compared with in IT - Software, ranking 47. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 18.1 + 5.5 + 10.4 + 4.2 = 38.2. 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.

05 · Revenue

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

Allied Digital Services Ltd reported ₹268 Cr of revenue in the Mar 26 quarter, +31.0% year on year. That is the 9th straight quarter of year-on-year growth. Over 10 years it has compounded at 15.1% a year. The last full year, FY26, came in at ₹968 Cr. The last four reported quarters add to ₹968 Cr.

FY26 revenue came in at ₹968 Cr (+20.0% on the year), capping 10 years at 15.1% compound. The latest quarter (Mar 26) printed ₹268 Cr, +31.0% year on year — the 9th consecutive quarter of year-over-year growth.

FY26 revenue ₹968 Cr (+20.0% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
15.1% a year over 10 years
RevenueYoY growth
1.0k41%78428%52314%2610.0%0−13%₹ Cr%₹96820%FY16FY21FY26
1.0k41%78428%52314%2610.0%0−13%₹ Cr%₹96820%FY16FY21FY26
Mar 26: ₹268 Cr (+31.0% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
9th straight quarter of growth
Revenue (quarterly)YoY growth
28934%21724%14515%725.2%0−4.3%₹ Cr%₹26831%Jun 23Sep 24Mar 26
28934%21724%14515%725.2%0−4.3%₹ Cr%₹26831%Jun 23Sep 24Mar 26

Pace check: the last four quarters averaged +20.1% growth against the decade's 15.1% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +19.9% over the last 4 quarters against +18.7%/yr over the last 8 — stabilising; TTM profit +25.8% vs −6.2%/yr — accelerating.

06 · Operating margin

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.

Allied Digital Services Ltd's operating margin is −3.8% in the Mar 26 quarter, +0.8 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 6.0% to 21.0%. The current quarter is running below every full year in that window.

The latest quarter's operating margin is −3.8%, +0.8 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 6.0%–21.0%.

Why the margin moved: operating margin went +0.8 pp year on year while gross margin went −22.0 pp — the gain came mostly from the gross line: input costs and pricing.

FY26: 6.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 13-year window.
within a 6.0–21.0% band over 13 years
operating marginYoY change (pp)
22%9.0%18%5.3%14%1.5%9.2%−2.3%4.8%−6.0%%%6%−2%FY14FY20FY26
22%9.0%18%5.3%14%1.5%9.2%−2.3%4.8%−6.0%%%6%−2%FY14FY20FY26
Mar 26: −3.8% operating margin (+0.8 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
15%4.2%9.9%−1.9%4.6%−7.9%−0.7%−14%−6.0%−20%%%−3.8%0.8%Jun 23Sep 24Mar 26
15%4.2%9.9%−1.9%4.6%−7.9%−0.7%−14%−6.0%−20%%%−3.8%0.8%Jun 23Sep 24Mar 26
07 · Net profit

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

Allied Digital Services Ltd posted a net loss of ₹3.4 Cr in the Mar 26 quarter. Full-year FY26 profit was ₹36.0 Cr. The 10-year compound rate is 24.6%. That loss is 1.3% of the quarter's revenue. The same quarter a year earlier lost ₹7.6 Cr. 2 of the last 12 reported quarters were loss-making.

Mar 26 profit was ₹−3.4 Cr, null year on year. On the full year, FY26 printed ₹36.0 Cr (+12.5%), and the 10-year compound rate is 24.6%.

FY26 profit ₹36.0 Cr (+12.5% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
24.6% a year over 10 years
Net profitYoY growth
66610%49419%33229%1638%0−153%₹ Cr%₹3612.5%FY16FY21FY26
66610%49419%33229%1638%0−153%₹ Cr%₹3612.5%FY16FY21FY26
Mar 26: ₹−3.4 Cr (null YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
2068%128.3%5−51%−2−111%−10−170%₹ Cr%₹−3−21.5%Jun 23Sep 24Mar 26
2068%128.3%5−51%−2−111%−10−170%₹ Cr%₹−3−21.5%Jun 23Sep 24Mar 26

Pace comparison, last four quarters: profit +16.7% vs revenue +20.1%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.

08 · Cash flow — the router

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 230% of Allied Digital Services Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹102 Cr of operating cash against ₹36.0 Cr of profit. After ₹6.0 Cr of capital spending, ₹96.0 Cr was left as free cash.

FY26: operating cash of ₹102 Cr against reported profit of ₹36.0 Cr, leaving free cash of ₹96.0 Cr after ₹6.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 230% of profit.

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

FY26: CFO ₹102 Cr vs profit ₹36.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution.
230% of 3-year profit arrived as cash
Operating cashNet profitFree cash
1108355280₹ Cr₹102₹36₹96FY16FY21FY26
1108355280₹ Cr₹102₹36₹96FY16FY21FY26
FY26: CFO = 283% of profit (three-year rate 230%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash; outlier years shown pinned.
Conversion100%
322%242%163%83%0.0%%283%FY16FY21FY26
322%242%163%83%0.0%%283%FY16FY21FY26

Why conversion sits at 230%: the cash cycle tightened 63 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

09 · Where the cash goes

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).

Allied Digital Services Ltd's cash conversion cycle runs 55 days in FY26, down from 118 days in FY21. Capital spending ran ₹58.0 Cr over the last 3 years. At FY26 sales of ₹968 Cr each day of that cycle holds about ₹2.7 Cr, so roughly ₹146 Cr sits inside the business at any moment.

FY26: debtors at 121 days, inventory at 30 days — roughly 1.0 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 55 days, tighter than FY21's 118.

The full loop: cash goes out to suppliers and production on day 0; stock waits 30 days to sell; customers pay about 121 days after that; and suppliers themselves are paid at 96 days — netting out to the 55-day cycle.

In money terms: at FY26 sales of ₹968 Cr, each day of the cycle holds about ₹2.7 Cr — so the 55-day loop keeps roughly ₹146 Cr sitting inside the business at any moment.

FY26: a 55-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 13-year window.
−63 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
615456297138−21days55d30d121d96dFY14FY17FY20FY23FY26
615456297138−21days55d30d121d96dFY14FY20FY26

On the investment side: capital spending of ₹58.0 Cr over the last 3 fiscal years against ₹66.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹6.0 Cr, work-in-progress ₹0.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
steady investment
CapexWork-in-progress
413121100₹ Cr₹6₹0FY16FY18FY21FY23FY26
413121100₹ Cr₹6₹0FY16FY21FY26

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

10 · Return on capital

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

Allied Digital Services Ltd earns a ROCE of 7% in FY26. That is up from a trough of 2% in FY15. Return on invested capital clears the cost of that capital by −7.3 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 3.7% net margin on 0.91× asset turns.

FY26 ROCE is 7%, recovered from a FY15 trough of 2% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): 3.7% net margin × 0.91× asset turns × 1.73× balance-sheet leverage ≈ 5.8% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 4.7% − 12.0% = a −7.3 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. Negative — growth at these returns destroys value until the returns recover.

FY26: ROCE 7% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 13-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY15's 2%
ROCEROIC (annual)WACC
14%11%7.5%4.3%1.1%%7%4.9%FY14FY20FY26
14%11%7.5%4.3%1.1%%7%4.9%FY14FY20FY26
Q4 FY26: ROCE 4.9% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
13%9.7%6.5%3.2%0.0%%4.9%2.3%Q4 FY23Q2 FY25Q4 FY26
13%9.7%6.5%3.2%0.0%%4.9%2.3%Q4 FY23Q2 FY25Q4 FY26
11 · Debt

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

Allied Digital Services Ltd carries total debt of ₹136 Cr against shareholder equity of ₹671 Cr as of Mar 26, a debt-to-equity of 0.20 — effectively unlevered. On the annual view that ratio went from 0.08 in FY22 to 0.20 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹136 Cr against shareholder equity of ₹671 Cr — a debt-to-equity of 0.20. On the annual view, debt-to-equity went from 0.08 (FY22) to 0.20 (FY26). The returns on this page are earned, not borrowed.

FY26: debt ₹136 Cr at 0.20× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
1470.21×1100.17×730.14×370.11×00.07×₹ Cr×₹1360.20×FY22FY24FY26
1470.21×1100.17×730.14×370.11×00.07×₹ Cr×₹1360.20×FY22FY24FY26
Mar 26: debt ₹136 Cr, debt-to-equity 0.20 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
1470.21×1100.17×730.14×370.10×00.06×₹ Cr×₹1360.20×Jun 23Sep 24Mar 26
1470.21×1100.17×730.14×370.10×00.06×₹ Cr×₹1360.20×Jun 23Sep 24Mar 26
12 · Ownership

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.

Foreign institutions cut 1.7 points of Allied Digital Services Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 0.1% of the company. Promoters moved −1.1 points over the same window, to 51.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: −1.7 points over 8 quarters to 0.1%; Promoters: −1.1 points over 8 quarters to 51.0%; Domestic institutions: +0.0 points over 8 quarters to 0.0%.

🚨 Why the register moved: foreign institutions drove it (−1.7 points), alongside promoters (−1.1 points) — distribution into the market’s bid.

Fiscal-year ends: promoters −1.1 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
56%41%26%11%−4.2%%51.1%0.4%0%48.5%Mar 24Mar 25Mar 26
56%41%26%11%−4.2%%51.1%0.4%0%48.5%Mar 24Mar 25Mar 26
Foreign institutions cut 1.7 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
57%42%26%11%−4.2%%51.0%0.1%0%48.9%Jun 23Dec 24Jun 26
57%42%26%11%−4.2%%51.0%0.1%0%48.9%Jun 23Dec 24Jun 26
13 · 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.

Allied Digital Services 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.

14 · Related companies · IT - Software
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Coforge LtdCOFORGE 75.9/100Favorable setup100% evidence BREAKING OUT 30.3/35 Revenue 35.7% · PAT 66.5% · OPM change 3 pp 100% evidence 15.6/25 ROCE 23.5% · OPM 19% 100% evidence 12.6/20 P/E 39.8× · PEG 0.57 100% evidence 17.4/20 RS sector 7.8% · RS bench 10.4% · 1Y 1.9%11 of 12 weeks ahead 100% evidence
Exact sum: 30.3 + 15.6 + 12.6 + 17.4 = 75.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2Silver Touch Technologies LtdSILVERTUC 71.3/100Favorable setup93% evidence LEADER 30.6/35 Revenue 21.1% · PAT 86.4% · OPM change 8 pp 100% evidence 16.9/25 ROCE 28.9% · OPM 22% 100% evidence 10.2/20 P/E 61.4× · PEG 1.11 65% evidence 13.6/20 RS sector 54.7% · RS bench 61.9% · 1Y 157%12 of 12 weeks ahead 100% evidence
Exact sum: 30.6 + 16.9 + 10.2 + 13.6 = 71.3 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
3NINtec Systems LtdNINSYS 70.8/100Favorable setup76% evidence LEADER 20.8/35 Revenue 21.7% · PAT 21.6% · OPM change 8.1 pp 83% evidence 21.9/25 ROCE 55% · OPM 30.1% 95% evidence 9.2/20 P/E 45.4× · PEG — 15% evidence 18.9/20 RS sector 53.9% · RS bench 58.6% · 1Y 84.9%12 of 12 weeks ahead 100% evidence
Exact sum: 20.8 + 21.9 + 9.2 + 18.9 = 70.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4InfoBeans Technologies LtdINFOBEAN 67.4/100Favorable setup81% evidence ASLEEP 27.0/35 Revenue 35.5% · PAT 60.4% · OPM change 0 pp 95% evidence 16.8/25 ROCE 29.2% · OPM 21% 95% evidence 9.5/20 P/E 19× · PEG — 50% evidence 14.1/20 RS sector 17.4% · RS bench -0.7% · 1Y 18.3%4 of 10 weeks ahead 70% evidence
Exact sum: 27 + 16.8 + 9.5 + 14.1 = 67.4 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
5Sasken Technologies LtdSASKEN 65.9/100Favorable setup100% evidence LEADER 30.8/35 Revenue 67.8% · PAT 67.4% · OPM change 4 pp 100% evidence 7.7/25 ROCE 9.9% · OPM 9% 100% evidence 9.6/20 P/E 37.3× · PEG 0.68 100% evidence 17.8/20 RS sector 15.4% · RS bench 19.1% · 1Y 23.3%12 of 12 weeks ahead 100% evidence
Exact sum: 30.8 + 7.7 + 9.6 + 17.8 = 65.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6Sahana Systems LtdSAHANA 65.3/100Favorable setup70% evidence BASING 21.8/35 Revenue 100% · PAT 100% · OPM change -3 pp 48% evidence 19.4/25 ROCE 39.8% · OPM 29% 95% evidence 14.4/20 P/E 13.2× · PEG — 50% evidence 9.7/20 RS sector -14.3% · RS bench 3.2% · 1Y -35.4%0 of 12 weeks ahead 100% evidence
Exact sum: 21.8 + 19.4 + 14.4 + 9.7 = 65.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Cigniti Technologies LtdCIGNITITEC 64.3/100Mixed-positive evidence79% evidence 23.4/35 Revenue 14% · PAT 96.1% · OPM change 2 pp 56% evidence 16.1/25 ROCE 34.1% · OPM 18% 75% evidence 16.1/20 P/E 11.4× · PEG 0.61 100% evidence 8.7/20 RS sector -9.5% · RS bench -15% · 1Y -20.5%0 of 1 week ahead to 2026-05-17 100% evidence
Exact sum: 23.4 + 16.1 + 16.1 + 8.7 = 64.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Hypersoft Technologies Ltd539724 63.2/100Mixed-positive evidence61% evidence LEADER 25.7/35 Revenue 100% · PAT 100% · OPM change 2.9 pp 71% evidence 12.0/25 ROCE 20.6% · OPM 14% 76% evidence 8.6/20 P/E 441× · PEG — 15% evidence 16.9/20 RS sector 81.1% · RS bench 88.7% · 1Y 282.1%12 of 12 weeks ahead 70% evidence
Exact sum: 25.7 + 12 + 8.6 + 16.9 = 63.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9Tech Mahindra LtdTECHM 63.0/100Mixed-positive evidence94% evidence TURNING 20.8/35 Revenue 10.9% · PAT 14.3% · OPM change 3 pp 100% evidence 16.1/25 ROCE 23.1% · OPM 17% 100% evidence 10.8/20 P/E 30.4× · PEG 0.76 100% evidence 15.3/20 RS sector 14.8% · RS bench 9.3% · 1Y 13%4 of 11 weeks ahead 70% evidence
Exact sum: 20.8 + 16.1 + 10.8 + 15.3 = 63 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10ASM Technologies Ltd526433 62.9/100Mixed-positive evidence65% evidence TURNING 23.7/35 Revenue 82.1% · PAT 100% · OPM change -4 pp 83% evidence 15.5/25 ROCE 27% · OPM 18% 76% evidence 8.8/20 P/E 118× · PEG — 15% evidence 14.9/20 RS sector 5.7% · RS bench 43% · 1Y 61.1%10 of 10 weeks ahead 70% evidence
Exact sum: 23.7 + 15.5 + 8.8 + 14.9 = 62.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11Saksoft LtdSAKSOFT 62.8/100Mixed-positive evidence90% evidence TURNING 24.0/35 Revenue 14% · PAT 22% · OPM change 3 pp 88% evidence 18.7/25 ROCE 25.5% · OPM 18% 100% evidence 13.5/20 P/E 16.4× · PEG 0.41 100% evidence 6.6/20 RS sector -21.2% · RS bench -3.3% · 1Y -21.8%6 of 11 weeks ahead 70% evidence
Exact sum: 24 + 18.7 + 13.5 + 6.6 = 62.8 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -21.2% and the one-year return is -21.8%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
12Softtech Engineers LtdSOFTTECH 61.2/100Mixed-positive evidence76% evidence FADING 27.8/35 Revenue 39.5% · PAT 100% · OPM change 6.2 pp 83% evidence 11.7/25 ROCE 6.2% · OPM 21.4% 95% evidence 8.8/20 P/E 117× · PEG — 15% evidence 12.9/20 RS sector 12.7% · RS bench 15.9% · 1Y 15.6%11 of 12 weeks ahead 100% evidence
Exact sum: 27.8 + 11.7 + 8.8 + 12.9 = 61.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13Datamatics Global Services LtdDATAMATICS 60.9/100Mixed-positive evidence90% evidence TURNING 20.9/35 Revenue 15.3% · PAT -5.8% · OPM change 6 pp 88% evidence 17.9/25 ROCE 20.8% · OPM 21% 100% evidence 8.5/20 P/E 20.6× · PEG 1.08 100% evidence 13.6/20 RS sector 9.6% · RS bench 0.6% · 1Y -5.4%6 of 10 weeks ahead 70% evidence
Exact sum: 20.9 + 17.9 + 8.5 + 13.6 = 60.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
14R Systems International LtdRSYSTEMS 60.4/100Mixed-positive evidence96% evidence BASING 23.9/35 Revenue 18.3% · PAT 48.3% · OPM change 2 pp 88% evidence 14.5/25 ROCE 19.5% · OPM 18% 100% evidence 18.2/20 P/E 13.5× · PEG 0.26 100% evidence 3.8/20 RS sector -26% · RS bench -24.4% · 1Y -37.4%0 of 12 weeks ahead 100% evidence
Exact sum: 23.9 + 14.5 + 18.2 + 3.8 = 60.4 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -26% and the one-year return is -37.4%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
15BLS E-Services LtdBLSE 58.2/100Mixed-positive evidence71% evidence LEADER 19.4/35 Revenue 100% · PAT 16.9% · OPM change -2 pp 83% evidence 10.5/25 ROCE 17% · OPM 6% 76% evidence 9.0/20 P/E 47.5× · PEG — 15% evidence 19.3/20 RS sector 47.6% · RS bench 51.9% · 1Y 62.6%12 of 12 weeks ahead 100% evidence
Exact sum: 19.4 + 10.5 + 9 + 19.3 = 58.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16String Metaverse Ltd534535 56.8/100Mixed-positive evidence78% evidence ASLEEP 26.3/35 Revenue 100% · PAT 100% · OPM change 0 pp 83% evidence 15.4/25 ROCE 41.6% · OPM 10% 76% evidence 14.7/20 P/E 6.8× · PEG — 50% evidence 0.4/20 RS sector -67.5% · RS bench -60.8% · 1Y -80.6%0 of 12 weeks ahead 100% evidence
Exact sum: 26.3 + 15.4 + 14.7 + 0.4 = 56.8 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -67.5% and the one-year return is -80.6%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
17Sonata Software LtdSONATSOFTW 56.7/100Mixed-positive evidence93% evidence BREAKING OUT 11.7/35 Revenue 5.4% · PAT 8.9% · OPM change 1 pp 83% evidence 16.8/25 ROCE 30.7% · OPM 8% 95% evidence 14.4/20 P/E 17.7× · PEG 0.61 100% evidence 13.8/20 RS sector -1.1% · RS bench 1.3% · 1Y -21.9%7 of 12 weeks ahead 100% evidence
Exact sum: 11.7 + 16.8 + 14.4 + 13.8 = 56.7 · Decision use: Price leads the evidence: RS versus the benchmark is 1.3%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
18Ksolves India LtdKSOLVES 56.6/100Mixed-positive evidence87% evidence ASLEEP 17.6/35 Revenue 16% · PAT 16.7% · OPM change 3.9 pp 95% evidence 20.3/25 ROCE 131% · OPM 30.3% 95% evidence 13.6/20 P/E 18× · PEG — 50% evidence 5.1/20 RS sector -10% · RS bench -7.2% · 1Y -15.5%0 of 12 weeks ahead 100% evidence
Exact sum: 17.6 + 20.3 + 13.6 + 5.1 = 56.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
19Infosys LtdINFY 56.1/100Mixed-positive evidence82% evidence BASING 18.2/35 Revenue 11.2% · PAT 11.1% · OPM change 0 pp 95% evidence 20.0/25 ROCE 40% · OPM 24% 76% evidence 14.1/20 P/E 14.7× · PEG — 50% evidence 3.8/20 RS sector -21.2% · RS bench -18.8% · 1Y -25.4%0 of 12 weeks ahead 100% evidence
Exact sum: 18.2 + 20 + 14.1 + 3.8 = 56.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20Xchanging Solutions LtdXCHANGING 55.0/100Mixed-positive evidence77% evidence ASLEEP 21.0/35 Revenue 9.7% · PAT 18% · OPM change 3 pp 83% evidence 15.3/25 ROCE 18% · OPM 37% 95% evidence 13.4/20 P/E 12.4× · PEG — 50% evidence 5.3/20 RS sector -24.4% · RS bench -11.9% · 1Y -27.2%1 of 10 weeks ahead 70% evidence
Exact sum: 21 + 15.3 + 13.4 + 5.3 = 55 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
21RNIT AI Solutions LtdAUTOPALIND 54.4/100Thin evidence · provisional51% evidence 20.5/35 Revenue 59.8% · PAT 66.7% · OPM change 5.1 pp 83% evidence 14.6/25 ROCE 20.2% · OPM 40.2% 76% evidence 9.3/20 P/E 39.8× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —5 of 10 weeks ahead 0% evidence
Exact sum: 20.5 + 14.6 + 9.3 + 10 = 54.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
22Dynacons Systems & Solutions LtdDSSL 53.7/100Mixed-positive evidence83% evidence LEADER 15.7/35 Revenue 12.4% · PAT 19.4% · OPM change 0 pp 83% evidence 16.8/25 ROCE 29.8% · OPM 9% 95% evidence 7.8/20 P/E 18.5× · PEG — 50% evidence 13.4/20 RS sector 10.4% · RS bench 14.3% · 1Y 19.9%12 of 12 weeks ahead 100% evidence
Exact sum: 15.7 + 16.8 + 7.8 + 13.4 = 53.7 · Decision use: Price leads the evidence: RS versus the benchmark is 14.3%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
23HCL Technologies LtdHCLTECH 53.5/100Mixed-positive evidence76% evidence TURNING 12.6/35 Revenue 12.6% · PAT 2.6% · OPM change 0 pp 95% evidence 19.0/25 ROCE 30.4% · OPM 20% 76% evidence 9.5/20 P/E 20.2× · PEG — 50% evidence 12.4/20 RS sector 9.9% · RS bench -6.4% · 1Y -9.6%1 of 10 weeks ahead 70% evidence
Exact sum: 12.6 + 19 + 9.5 + 12.4 = 53.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
24Tanla Platforms LtdTANLA 53.2/100Mixed-positive evidence94% evidence TURNING 14.4/35 Revenue 13.2% · PAT 9.9% · OPM change 0 pp 100% evidence 16.4/25 ROCE 26.3% · OPM 16% 100% evidence 13.1/20 P/E 14.6× · PEG 1.21 100% evidence 9.3/20 RS sector -12% · RS bench 5.2% · 1Y -9.6%10 of 10 weeks ahead 70% evidence
Exact sum: 14.4 + 16.4 + 13.1 + 9.3 = 53.2 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
25AvenuesAI LtdCCAVENUE 52.8/100Mixed-positive evidence83% evidence TURNING 20.5/35 Revenue 100% · PAT 25.5% · OPM change -2.3 pp 88% evidence 8.2/25 ROCE 7.7% · OPM 3.7% 100% evidence 14.9/20 P/E 19.6× · PEG 0.37 65% evidence 9.2/20 RS sector -2.2% · RS bench -3.6% · 1Y -1.2%5 of 11 weeks ahead 70% evidence
Exact sum: 20.5 + 8.2 + 14.9 + 9.2 = 52.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
26Seshaasai Technologies LtdSTYL 52.8/100Mixed-positive evidence73% evidence TURNING 13.1/35 Revenue 6.7% · PAT 20.6% · OPM change 0 pp 100% evidence 16.9/25 ROCE 27.7% · OPM 23% 100% evidence 12.8/20 P/E 21.2× · PEG 0.81 65% evidence 10.0/20 RS sector — · RS bench — · 1Y —8 of 10 weeks ahead 0% evidence
Exact sum: 13.1 + 16.9 + 12.8 + 10 = 52.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
27Tata Consultancy Services LtdTCS 52.5/100Mixed-positive evidence94% evidence ASLEEP 11.1/35 Revenue 7.7% · PAT 1.1% · OPM change -1 pp 100% evidence 22.3/25 ROCE 63% · OPM 26% 100% evidence 11.8/20 P/E 15.9× · PEG 1.85 100% evidence 7.3/20 RS sector -4.6% · RS bench -15.1% · 1Y -24.6%0 of 10 weeks ahead 70% evidence
Exact sum: 11.1 + 22.3 + 11.8 + 7.3 = 52.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
28Expleo Solutions LtdEXPLEOSOL 51.4/100Mixed-positive evidence77% evidence ASLEEP 15.4/35 Revenue 8.1% · PAT 20.4% · OPM change -1 pp 83% evidence 15.7/25 ROCE 24.8% · OPM 15% 95% evidence 13.9/20 P/E 9.2× · PEG — 50% evidence 6.4/20 RS sector -13.4% · RS bench -13.1% · 1Y -34.3%5 of 10 weeks ahead 70% evidence
Exact sum: 15.4 + 15.7 + 13.9 + 6.4 = 51.4 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
29IZMO LtdIZMO 51.2/100Mixed-positive evidence77% evidence TURNING 16.2/35 Revenue 26.1% · PAT -2% · OPM change -5 pp 83% evidence 12.5/25 ROCE 12.6% · OPM 14% 95% evidence 6.6/20 P/E 31.2× · PEG — 50% evidence 15.9/20 RS sector 28.9% · RS bench 19.5% · 1Y 161%7 of 10 weeks ahead 70% evidence
Exact sum: 16.2 + 12.5 + 6.6 + 15.9 = 51.2 · Decision use: Price leads the evidence: RS versus the benchmark is 19.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
30LTM LtdLTM 50.8/100Mixed-positive evidence100% evidence TURNING 17.1/35 Revenue 13.9% · PAT 10% · OPM change 1 pp 100% evidence 17.8/25 ROCE 29.6% · OPM 18% 100% evidence 11.2/20 P/E 23.1× · PEG 1.18 100% evidence 4.7/20 RS sector -16% · RS bench -13.6% · 1Y -14.4%0 of 12 weeks ahead 100% evidence
Exact sum: 17.1 + 17.8 + 11.2 + 4.7 = 50.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
31Wipro LtdWIPRO 50.3/100Mixed-positive evidence94% evidence ASLEEP 13.8/35 Revenue 6.4% · PAT -1.7% · OPM change 0 pp 100% evidence 14.9/25 ROCE 17.8% · OPM 19% 100% evidence 13.2/20 P/E 13.8× · PEG 1.4 100% evidence 8.4/20 RS sector -1.9% · RS bench -18.5% · 1Y -29.1%0 of 10 weeks ahead 70% evidence
Exact sum: 13.8 + 14.9 + 13.2 + 8.4 = 50.3 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
32Mastek LtdMASTEK 50.3/100Mixed-positive evidence82% evidence TURNING 14.1/35 Revenue 6% · PAT 5% · OPM change 0 pp 95% evidence 13.8/25 ROCE 18% · OPM 15% 76% evidence 12.7/20 P/E 13.2× · PEG — 50% evidence 9.7/20 RS sector -6.7% · RS bench -4.4% · 1Y -24.4%1 of 12 weeks ahead 100% evidence
Exact sum: 14.1 + 13.8 + 12.7 + 9.7 = 50.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
33Subex LtdSUBEXLTD 50.0/100Thin evidence · provisional53% evidence TURNING 19.8/35 Revenue -2.3% · PAT 100% · OPM change 31 pp 62% evidence 8.7/25 ROCE 12.8% · OPM 12.6% 95% evidence 9.9/20 P/E 21.7× · PEG — 15% evidence 11.6/20 RS sector — · RS bench 8.4% · 1Y —3 of 3 weeks ahead 25% evidence
Exact sum: 19.8 + 8.7 + 9.9 + 11.6 = 50 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
34Birlasoft LtdBSOFT 49.4/100Mixed-negative evidence100% evidence BASING 19.8/35 Revenue 1.4% · PAT 21.1% · OPM change 4 pp 100% evidence 13.0/25 ROCE 21.2% · OPM 16% 100% evidence 14.5/20 P/E 14.2× · PEG 0.62 100% evidence 2.1/20 RS sector -21.6% · RS bench -19% · 1Y -23.5%0 of 12 weeks ahead 100% evidence
Exact sum: 19.8 + 13 + 14.5 + 2.1 = 49.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
35Blue Cloud Softech Solutions Ltd539607 49.1/100Mixed-negative evidence65% evidence TURNING 20.3/35 Revenue 25.7% · PAT 39.5% · OPM change 8 pp 83% evidence 10.7/25 ROCE 14.2% · OPM 17% 76% evidence 9.6/20 P/E 29.8× · PEG — 15% evidence 8.5/20 RS sector -1.9% · RS bench -14.9% · 1Y -35.1%0 of 10 weeks ahead 70% evidence
Exact sum: 20.3 + 10.7 + 9.6 + 8.5 = 49.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
36Hexaware Technologies LtdHEXT 48.3/100Mixed-negative evidence94% evidence TURNING 14.5/35 Revenue 13% · PAT 1.2% · OPM change 4 pp 100% evidence 17.5/25 ROCE 30.1% · OPM 16% 100% evidence 10.4/20 P/E 24.2× · PEG 0.81 100% evidence 5.9/20 RS sector -21.4% · RS bench -9.9% · 1Y -24%6 of 10 weeks ahead 70% evidence
Exact sum: 14.5 + 17.5 + 10.4 + 5.9 = 48.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
37Mphasis LtdMPHASIS 48.1/100Mixed-negative evidence94% evidence TURNING 15.3/35 Revenue 13.7% · PAT 9.9% · OPM change -1 pp 100% evidence 17.1/25 ROCE 22.1% · OPM 18% 100% evidence 5.6/20 P/E 23.1× · PEG 2.19 100% evidence 10.1/20 RS sector 0% · RS bench -9.2% · 1Y -10.8%0 of 10 weeks ahead 70% evidence
Exact sum: 15.3 + 17.1 + 5.6 + 10.1 = 48.1 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
38Zensar Technologies LtdZENSARTECH 47.4/100Mixed-negative evidence100% evidence BASING 15.8/35 Revenue 8% · PAT 15.3% · OPM change 0 pp 100% evidence 13.8/25 ROCE 22.8% · OPM 15% 100% evidence 13.3/20 P/E 14.5× · PEG 1.11 100% evidence 4.5/20 RS sector -23.7% · RS bench -21.9% · 1Y -36.2%0 of 12 weeks ahead 100% evidence
Exact sum: 15.8 + 13.8 + 13.3 + 4.5 = 47.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
39TechNVision Ventures LtdTECHNVISN 46.5/100Mixed-negative evidence62% evidence ASLEEP 17.0/35 Revenue 18.2% · PAT 90.9% · OPM change -5.7 pp 62% evidence 8.9/25 ROCE 12.9% · OPM -4.1% 95% evidence 8.5/20 P/E 12760× · PEG — 15% evidence 12.1/20 RS sector 32.1% · RS bench -21.9% · 1Y 16.2%0 of 7 weeks ahead 70% evidence
Exact sum: 17 + 8.9 + 8.5 + 12.1 = 46.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
40XT Global Infotech LtdXTGLOBAL 46.5/100Mixed-negative evidence61% evidence 18.7/35 Revenue 85.4% · PAT 29.4% · OPM change -6.6 pp 53% evidence 9.2/25 ROCE 7.5% · OPM 9.5% 71% evidence 9.4/20 P/E 40.8× · PEG — 50% evidence 9.2/20 RS sector -1.1% · RS bench -12.7% · 1Y -18.7%2 of 12 weeks ahead to 2026-03-29 70% evidence
Exact sum: 18.7 + 9.2 + 9.4 + 9.2 = 46.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
41Unicommerce eSolutions LtdUNIECOM 46.4/100Mixed-negative evidence70% evidence ASLEEP 14.9/35 Revenue 51.6% · PAT 16.1% · OPM change -4.8 pp 83% evidence 17.1/25 ROCE 21.1% · OPM 13.4% 95% evidence 9.1/20 P/E 46.5× · PEG — 15% evidence 5.3/20 RS sector -14.5% · RS bench -24.2% · 1Y -31.1%0 of 10 weeks ahead 70% evidence
Exact sum: 14.9 + 17.1 + 9.1 + 5.3 = 46.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
42Capillary Technologies India LtdCAPILLARY 44.2/100Thin evidence · provisional59% evidence ASLEEP 21.6/35 Revenue 22.5% · PAT 271.4% · OPM change -2 pp 88% evidence 4.0/25 ROCE 3.6% · OPM 16% 100% evidence 8.6/20 P/E 134× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —0 of 10 weeks ahead 0% evidence
Exact sum: 21.6 + 4 + 8.6 + 10 = 44.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
43Magellanic Cloud LtdMCLOUD 44.0/100Mixed-negative evidence77% evidence TURNING 13.3/35 Revenue 17.1% · PAT 11.7% · OPM change -3 pp 83% evidence 15.4/25 ROCE 19.8% · OPM 26% 95% evidence 11.9/20 P/E 14.9× · PEG — 50% evidence 3.4/20 RS sector -54.5% · RS bench -27.4% · 1Y -64.9%5 of 11 weeks ahead 70% evidence
Exact sum: 13.3 + 15.4 + 11.9 + 3.4 = 44 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
44Mindteck (India) LtdMINDTECK 43.8/100Mixed-negative evidence77% evidence ASLEEP 14.6/35 Revenue -4% · PAT 10.3% · OPM change 2 pp 83% evidence 10.6/25 ROCE 15.1% · OPM 10% 95% evidence 11.7/20 P/E 18.2× · PEG — 50% evidence 6.9/20 RS sector -10.1% · RS bench -9.9% · 1Y -6.9%3 of 10 weeks ahead 70% evidence
Exact sum: 14.6 + 10.6 + 11.7 + 6.9 = 43.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
45Innovana Thinklabs LtdINNOVANA 38.7/100Mixed-negative evidence77% evidence ASLEEP 10.2/35 Revenue 27.9% · PAT -18.2% · OPM change -46.5 pp 83% evidence 10.0/25 ROCE 16.4% · OPM 9.7% 95% evidence 9.7/20 P/E 17.8× · PEG — 50% evidence 8.8/20 RS sector -0.4% · RS bench -22% · 1Y -39.3%0 of 10 weeks ahead 70% evidence
Exact sum: 10.2 + 10 + 9.7 + 8.8 = 38.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4663 Moons Technologies Ltd63MOONS 38.7/100Mixed-negative evidence62% evidence TURNING 16.7/35 Revenue 100% · PAT -17% · OPM change 397 pp 83% evidence 3.4/25 ROCE -3.7% · OPM -57% 76% evidence 10.0/20 P/E — · PEG — 0% evidence 8.6/20 RS sector -22.4% · RS bench 26.5% · 1Y -10.7%7 of 11 weeks ahead 70% evidence
Exact sum: 16.7 + 3.4 + 10 + 8.6 = 38.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
47Allied Digital Services Ltdthis pageADSL 38.2/100Mixed-negative evidence62% evidence ASLEEP 18.1/35 Revenue 19.9% · PAT 25.8% · OPM change 0.8 pp 62% evidence 5.5/25 ROCE 7.3% · OPM -3.8% 95% evidence 10.4/20 P/E 18.1× · PEG — 15% evidence 4.2/20 RS sector -29.8% · RS bench -19.6% · 1Y -33.4%5 of 10 weeks ahead 70% evidence
Exact sum: 18.1 + 5.5 + 10.4 + 4.2 = 38.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
48Kellton Tech Solutions LtdKELLTONTEC 36.4/100Mixed-negative evidence81% evidence ASLEEP 10.4/35 Revenue 9.5% · PAT 9.6% · OPM change -1 pp 95% evidence 9.5/25 ROCE 15% · OPM 11% 95% evidence 11.5/20 P/E 8.3× · PEG — 50% evidence 5.0/20 RS sector -18.8% · RS bench -25.3% · 1Y -55.9%0 of 10 weeks ahead 70% evidence
Exact sum: 10.4 + 9.5 + 11.5 + 5 = 36.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
49Aurionpro Solutions LtdAURIONPRO 35.9/100Mixed-negative evidence93% evidence ASLEEP 13.5/35 Revenue 14.8% · PAT 5.1% · OPM change -3 pp 100% evidence 10.7/25 ROCE 16.3% · OPM 17% 100% evidence 9.9/20 P/E 19.3× · PEG 1.39 65% evidence 1.8/20 RS sector -29.5% · RS bench -27.8% · 1Y -47.5%2 of 12 weeks ahead 100% evidence
Exact sum: 13.5 + 10.7 + 9.9 + 1.8 = 35.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
50Moschip Technologies LtdMOSCHIP 30.3/100Adverse evidence87% evidence TURNING 8.1/35 Revenue 8.4% · PAT -33.6% · OPM change -3.9 pp 100% evidence 6.8/25 ROCE 11% · OPM 8.2% 100% evidence 3.7/20 P/E 127× · PEG 5.04 65% evidence 11.7/20 RS sector 1.9% · RS bench -2.2% · 1Y 23.8%9 of 10 weeks ahead 70% evidence
Exact sum: 8.1 + 6.8 + 3.7 + 11.7 = 30.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
51Quick Heal Technologies LtdQUICKHEAL 20.4/100Adverse evidence69% evidence ASLEEP 6.2/35 Revenue -6.6% · PAT -80% · OPM change -22.1 pp 71% evidence 1.6/25 ROCE -4.7% · OPM -39% 95% evidence 10.0/20 P/E — · PEG — 0% evidence 2.6/20 RS sector -35.1% · RS bench -34% · 1Y -52.5%8 of 12 weeks ahead 100% evidence
Exact sum: 6.2 + 1.6 + 10 + 2.6 = 20.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
52Covance Softsol Ltd544361 66.7/100Thin evidence · provisional49% evidence 25.7/35 Revenue 43.5% · PAT 100% · OPM change 19.7 pp 62% evidence 17.9/25 ROCE 31.4% · OPM 23.1% 76% evidence 10.7/20 P/E 15.3× · PEG — 15% evidence 12.4/20 RS sector — · RS bench 82.1% · 1Y — 25% evidence
Exact sum: 25.7 + 17.9 + 10.7 + 12.4 = 66.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
53Meta Infotech LtdMETA 54.6/100Thin evidence · provisional21% evidence 17.1/35 Revenue — · PAT — · OPM change -2 pp 10% evidence 16.3/25 ROCE 51.1% · OPM 8% 57% evidence 11.2/20 P/E 13× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y -52.4%0 of 12 weeks ahead to 2026-03-08 0% evidence
Exact sum: 17.1 + 16.3 + 11.2 + 10 = 54.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
54TAC Infosec LtdTAC 54.2/100Thin evidence · provisional50% evidence TURNING 18.1/35 Revenue — · PAT — · OPM change -6 pp 26% evidence 20.5/25 ROCE 38.1% · OPM 45% 95% evidence 9.1/20 P/E 46.4× · PEG — 15% evidence 6.5/20 RS sector -13.2% · RS bench -13.4% · 1Y 12.1%1 of 10 weeks ahead 70% evidence
Exact sum: 18.1 + 20.5 + 9.1 + 6.5 = 54.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
55Exato Technologies Ltd544626 52.7/100Thin evidence · provisional33% evidence 17.1/35 Revenue — · PAT — · OPM change -3.9 pp 32% evidence 16.1/25 ROCE 26.8% · OPM 10.4% 76% evidence 9.5/20 P/E 36.6× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y — 0% evidence
Exact sum: 17.1 + 16.1 + 9.5 + 10 = 52.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
56Unified Data- Tech Solutions LtdUNIFIED 52.4/100Thin evidence · provisional22% evidence 15.8/35 Revenue — · PAT — · OPM change -8 pp 15% evidence 16.9/25 ROCE 47.9% · OPM 13% 57% evidence 9.7/20 P/E 23.2× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y 9.4%0 of 12 weeks ahead to 2026-03-08 0% evidence
Exact sum: 15.8 + 16.9 + 9.7 + 10 = 52.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
57Kody Technolab LtdKODYTECH 52.3/100Thin evidence · provisional48% evidence TURNING 15.2/35 Revenue — · PAT — · OPM change -5 pp 19% evidence 12.8/25 ROCE 16.8% · OPM 29% 95% evidence 8.7/20 P/E 121× · PEG — 15% evidence 15.6/20 RS sector 10.3% · RS bench 66.8% · 1Y 94.4%7 of 10 weeks ahead 70% evidence
Exact sum: 15.2 + 12.8 + 8.7 + 15.6 = 52.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
58Trident Techlabs LtdTECHLABS 46.5/100Thin evidence · provisional40% evidence 16.2/35 Revenue — · PAT — · OPM change -2 pp 15% evidence 16.2/25 ROCE 26.7% · OPM 27% 71% evidence 10.8/20 P/E 14.9× · PEG — 15% evidence 3.3/20 RS sector -50.3% · RS bench -56.5% · 1Y -65.1%0 of 12 weeks ahead to 2026-03-29 70% evidence
Exact sum: 16.2 + 16.2 + 10.8 + 3.3 = 46.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
59Excelsoft Technologies LtdEXCELSOFT 46.3/100Thin evidence · provisional43% evidence ASLEEP 12.8/35 Revenue — · PAT — · OPM change -11 pp 45% evidence 13.3/25 ROCE 13.6% · OPM 30% 95% evidence 10.2/20 P/E 19.1× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —2 of 10 weeks ahead 0% evidence
Exact sum: 12.8 + 13.3 + 10.2 + 10 = 46.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
60ERP Soft Systems Ltd530909 44.8/100Thin evidence · provisional41% evidence 20.3/35 Revenue 19.1% · PAT 100% · OPM change -1.1 pp 53% evidence 8.0/25 ROCE 1.6% · OPM 1.7% 57% evidence 8.9/20 P/E 74.9× · PEG — 15% evidence 7.6/20 RS sector — · RS bench -47.6% · 1Y -56.7%0 of 12 weeks ahead to 2026-03-29 25% evidence
Exact sum: 20.3 + 8 + 8.9 + 7.6 = 44.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
61Veefin Solutions LtdVEEFIN 43.3/100Thin evidence · provisional33% evidence 17.0/35 Revenue — · PAT — · OPM change -12.4 pp 5% evidence 10.4/25 ROCE 6.8% · OPM 20% 57% evidence 9.3/20 P/E 40.5× · PEG — 15% evidence 6.6/20 RS sector -7.2% · RS bench -18.7% · 1Y -30.3%0 of 12 weeks ahead to 2026-03-08 70% evidence
Exact sum: 17 + 10.4 + 9.3 + 6.6 = 43.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
62IDream Film Infrastructure Company Ltd504375 41.0/100Thin evidence · provisional30% evidence 13.5/35 Revenue — · PAT 0% · OPM change — 29% evidence 5.0/25 ROCE -9.2% · OPM — 61% evidence 10.0/20 P/E — · PEG — 0% evidence 12.5/20 RS sector — · RS bench 144.4% · 1Y —4 of 4 weeks ahead 25% evidence
Exact sum: 13.5 + 5 + 10 + 12.5 = 41 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
63Orient Technologies LtdORIENTTECH 33.7/100Thin evidence · provisional45% evidence ASLEEP 15.6/35 Revenue — · PAT — · OPM change -5 pp 13% evidence 2.2/25 ROCE 8.4% · OPM 2.4% 95% evidence 9.0/20 P/E 47.7× · PEG — 15% evidence 6.9/20 RS sector -7.1% · RS bench -16.1% · 1Y -11.7%0 of 10 weeks ahead 70% evidence
Exact sum: 15.6 + 2.2 + 9 + 6.9 = 33.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

15 · Frequently asked questions

Frequently asked questions

What is Allied Digital Services Ltd's share price today?

Allied Digital Services Ltd trades at ₹115, −27.2% over the past year. The company is valued at ₹649 Cr. The stock sits at 21% of its 52-week range of ₹92–₹199, −14.7% versus its 200-day average. On the tape, the price is in a downtrend, 71 weeks in. — as of 31 July 2026.

What were Allied Digital Services Ltd's latest quarterly results?

Allied Digital Services Ltd reported revenue of ₹268 Cr and a net loss of ₹3.4 Cr for the Mar 26 quarter. Earnings per share were ₹−0.60. The operating margin was −3.8%, 0.8 pp higher than a year earlier. — as of 31 July 2026.

What is Allied Digital Services Ltd's revenue?

Allied Digital Services Ltd reported revenue of ₹268 Cr in the Mar 26 quarter, +31.0% year on year. For the full FY26 fiscal year, revenue was ₹968 Cr (+20.0%). Over the last 10 years revenue compounded at 15.1% a year. — as of 31 July 2026.

What is Allied Digital Services Ltd's profit?

Allied Digital Services Ltd earned ₹−3.4 Cr of net profit in the Mar 26 quarter. Full-year FY26 profit was ₹36.0 Cr. The operating margin ran −3.8% in the latest quarter. — as of 31 July 2026.

What is Allied Digital Services Ltd's market cap?

Allied Digital Services Ltd's market capitalisation is ₹649 Cr at a share price of ₹115. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 31 July 2026.

What is Allied Digital Services Ltd's P/E ratio?

Allied Digital Services Ltd trades at a P/E of 18.1×, at the 57th percentile of its own 11-year range, against a long-run median of 16.2×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.

Does Allied Digital Services Ltd pay a dividend?

Yes — Allied Digital Services Ltd's dividend payout was 24% of profit in FY26, and it recorded a payout in 7 of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 31 July 2026.

Is Allied Digital Services Ltd overvalued?

On its own history, Allied Digital Services Ltd looks mid-range against its own history: its P/E of 18.1× sits at the 57th percentile of its 11-year range (long-run median 16.2×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 31 July 2026.

How is Allied Digital Services Ltd performing?

Allied Digital Services Ltd is in a downtrend, 71 weeks in. Against the NIFTY 500 it has been behind on a trailing-13-week view for 5 weeks. This describes what the data did, not a rating. — as of 31 July 2026.

What stage is Allied Digital Services Ltd in?

Mixed — revenue growth is rising at +31.0% (single-quarter readings) while profit growth is falling at −21.5% (single-quarter readings) — the curves disagree, so the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +31.0% latest, profit growth −21.5% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 31 July 2026.

Is Allied Digital Services Ltd in an uptrend?

No — the price is in a downtrend (week 71 of stage 4), trading −14.7% versus its 200-day average and at 21% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 31 July 2026.

Is Allied Digital Services Ltd beating the market?

Not lately — on a trailing-13-week view Allied Digital Services Ltd is currently behind the NIFTY 500 (5 weeks and counting; last ahead the week of 2026-07-01), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved +173% against the NIFTY 500's +276% — behind the index over the full window. — as of 31 July 2026.

Will Allied Digital Services Ltd's share price go up?

This page publishes no price forecast for Allied Digital Services Ltd. What it measures instead: the share price is ₹115, the price is in a downtrend 71 weeks in. Its P/E of 18.1× sits at the 57th percentile of its own 11-year range. — as of 31 July 2026.

Who owns Allied Digital Services Ltd?

Promoters hold 51.0% of Allied Digital Services Ltd, foreign institutions 0.1%, domestic institutions 0.0% and the public 48.9% (latest quarter). The biggest move on the register over the last two years: Foreign institutions cut 1.7 points over 8 quarters. — as of 31 July 2026.

Does Allied Digital Services Ltd have too much debt?

No — Allied Digital Services Ltd's debt-to-equity is 0.22, and operating profit covers the interest bill 5×. FY26 borrowings were ₹136 Cr against equity of ₹613 Cr. The returns on this page are earned, not borrowed — as of 31 July 2026.

What is Allied Digital Services Ltd's capex?

Allied Digital Services Ltd spent ₹58.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹6.0 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.

What is Allied Digital Services Ltd's cash flow?

Allied Digital Services Ltd generated ₹102 Cr of operating cash flow in FY26 and ₹96.0 Cr of free cash flow after ₹6.0 Cr of capital spending. Reported profit that year was ₹36.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 31 July 2026.

Is Allied Digital Services Ltd's profit real cash?

Yes — over the last 3 fiscal years, 230% of Allied Digital Services Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹102 Cr against reported profit of ₹36.0 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 31 July 2026.

Where is Allied Digital Services Ltd in its business cycle?

Allied Digital Services Ltd's FY26 operating margin was 6.0%, against a 13-year band of 6.0%–21.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran −3.8%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 31 July 2026.

What could break the Allied Digital Services Ltd story?

The sharpest disagreement: annual EPS moved +27.6% against a −27.2% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 31 July 2026.

Is Allied Digital Services Ltd a stock worth studying right now?

This is not investment advice. The machine read: Allied Digital Services Ltd's earnings have outrun its stock. EPS grew +27.6% in a year against a −27.2% price move. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 31 July 2026.

Chat with this pageChat with pageChatChatGPTClaudePerplexityGoogle AI