Allied Digital Services Limited (ADSL)

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Allied Digital Services Limited (ADSL) · mywealthgrid

About

Allied Digital Services Limited is an IT Enabled Services company operating in India's IT sector, with a market cap of ₹638.56 Cr and quarterly revenues between ₹91 and ₹267 Cr depending on consolidation scope. Owned 51.02% by promoters and 48.87% by public shareholders, it has attracted minimal foreign institutional investment (0.11%).

Face value: ₹5

Market cap

₹602 Cr

P/E

18.3×

P/B

1.0×

Dividend yield

2.8%

ROE

4.7%

ROCE

7.8%

Debt / equity

0.19

OPM

5.8%

EPS (TTM)

₹5.8

Book value

₹108.6

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Standalone revenue fell from ₹100.58 Cr (Sep 2025) to ₹91.33 Cr (Jun 2026)—core organic business is contracting

Operating margin swung to –27.55% OPM in Mar 2026 (standalone), raising questions about operational stability and stress-absorption capacity

Return on equity of 4.74% is well below cost of capital—capital deployment efficiency is exceptionally poor

Stock declined 34% over 12 months while foreign institutional participation remains minimal (FII 0.11%)

Generated analysis · source review pending

Growth drivers

Consolidated revenue grew from ₹233.7 Cr (Sep 2025) to ₹267.77 Cr (Mar 2026)—acquisition and consolidation demonstrating inorganic growth capability

Standalone OPM recovered to 15.1% in Jun 2026 from negative 27.55% in Mar 2026—potential operational turnaround in progress

Conservative debt-to-equity of 0.19 provides financial capacity for growth investments and M&A without balance-sheet stress

Annual dividend payments from 2021–2025 demonstrate cash generation and disciplined capital allocation

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹106.4-3.3%1Y

Quick read

rule-based

Pros

+Revenue CAGR of 22% over the last 5 years
+Dividend yield of 2.8%
+Dividend payout of 51.7% of profit

Cons

−Low return on equity of 5.4% (3-yr avg)
−Thin operating margin of 5.8%

Research score

Structured signal from quality, growth, valuation and momentum.

54/100

Business quality: 26
Growth: 59
Valuation: 77

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
L&T Technology Services LimitedLTTSLTTS	₹34,671 Cr	₹34,671 Cr	₹11,701 Cr	₹2,074 Cr	17.6%	₹1,320 Cr	11.7%	24.9%	20.4%	29
Inventurus Knowledge Solutions LimitedIKSIKS	₹30,483 Cr	₹31,124 Cr	₹3,347 Cr	₹1,149 Cr	34.2%	₹764 Cr	22.6%	33.8%	31.4%	39
Tata Technologies LimitedTATATECHTATATECH	₹28,378 Cr	₹29,044 Cr	₹5,926 Cr	₹920 Cr	15.5%	₹557 Cr	9.9%	19.3%	14.6%	33
Netweb Technologies India LimitedNETWEBNETWEB	₹25,721 Cr	—	₹724 Cr	₹103 Cr	14.2%	₹76 Cr	10.5%	—	—	—
Affle 3i LimitedAFFLEAFFLE	₹20,410 Cr	₹20,422 Cr	₹2,836 Cr	₹638 Cr	22.5%	₹478 Cr	16.8%	16.9%	13.8%	-51
Sagility LimitedSAGILITYSAGILITY	₹20,209 Cr	₹21,320 Cr	₹7,617 Cr	₹1,849 Cr	24.5%	₹993 Cr	12.9%	13.3%	10.3%	78
Esds Software Solution LimitedESDSESDS	₹16,809 Cr	—	₹208 Cr	₹47 Cr	22.9%	₹-22 Cr	-10.8%	0.8%	-10.9%	—
Black Box LimitedBBOXBBOX	₹14,134 Cr	₹14,961 Cr	₹6,654 Cr	₹614 Cr	9%	₹226 Cr	3.4%	21.7%	21.3%	-10
E2e Networks LimitedE2EE2E	₹13,323 Cr	₹13,482 Cr	₹366 Cr	₹234 Cr	51.4%	₹31 Cr	-6.3%	-0.5%	-1%	-45
Cyient LimitedCYIENTCYIENT	₹12,272 Cr	₹12,438 Cr	₹7,632 Cr	₹944 Cr	12.5%	₹378 Cr	6.4%	12.4%	7.8%	119
Amagi Media Labs LimitedAMAGIAMAGI	₹11,984 Cr	₹11,984 Cr	₹1,506 Cr	₹50 Cr	3.4%	₹72 Cr	4.8%	5.2%	4.1%	40
Emudhra LimitedEMUDHRAEMUDHRA	₹4,802 Cr	₹4,826 Cr	₹745 Cr	₹174 Cr	22.7%	₹115 Cr	15.7%	14.9%	13%	36

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	237	330	358	485	660	687	807	968
COGS	4	192	209	13	403	407	466	586
Gross profit	233	138	149	471	257	280	341	382
	190	90	104	401	169	196	287	325
	43	48	45	70	88	83	54	56
OPM %	18.3%	14.4%	12.5%	14.5%	13.4%	12.1%	6.7%	5.8%
Depreciation	22	22	22	20	17	16	30	20
Interest	18	7	4	3	4	5	8	12
	6	6	4	26	-41	1	45	19
Profit before tax	9	24	24	74	26	63	55	44
Tax	3	5	4	13	19	17	23	8
Tax %	29.3%	20%	18.2%	17%	73.6%	27.2%	41.8%	18.5%
	6	19	19	61	7	46	32	36
PAT margin %	2.7%	5.8%	5.4%	12.6%	1.1%	6.7%	4%	3.7%
EPS (₹)	1.2	3.8	3.8	11.7	1.3	8.3	5	6.3
EPS adjusted (₹)	1.4	4.5	3.8	9.7	0	7	4.7	5.1
	0%	13.1%	19.6%	8.6%	99.2%	18.1%	30.1%	23.8%
Annual report	Annual report for Mar 2016	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	23	25	25	25	25	25	27	27	28	28	28
Reserves	638	417	399	412	431	445	504	509	551	574	585
Minority interest	5	7	8	9	12	14	25	35	40	45	58
	118	69	58	64	52	54	43	35	60	72	117
	51	268	130	123	103	102	94	88	99	207	270
Total equity & liabilities	835	786	620	633	623	641	693	695	778	925	1,058
	308	226	211	196	190	175	171	186	202	195	175
CWIP	38	—	—	—	—	—	—	0	0	—	—
Investments	6	7	7	8	8	88	89	85	84	83	82
	484	552	401	429	425	378	434	424	493	647	801
Total assets	835	786	620	633	623	641	693	695	778	925	1,058

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities
Services	756.14	249.42	0	0
Solutions	211.77	31.69	0	0
Unallocated	20.41	0

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2016	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	98.3%	41.8%	41.6%	97.2%	39%	40.7%	42.2%	39.4%
EBITDA margin %	18.3%	14.4%	12.5%	14.5%	13.4%	12.1%	6.7%	5.8%
EBIT margin %	9.2%	7.7%	6.5%	10.3%	10.8%	9.8%	3%	3.7%
PAT margin %	2.7%	5.8%	5.4%	12.6%	1.1%	6.7%	4%	3.7%
Working capital
Receivable days	480	224	167	150	88	80	85	121
Inventory days	3,520	67	61	1,040	39	43	38	30
Payable days	805	—	111	1,391	34	45	50	96
NWC days	3,196	—	118	-201	93	77	73	55
Leverage
Current ratio	3.02	2.66	2.75	3.74	3.53	3.6	3.02	2.52
Debt to EBITDA	2.71	1.08	1.21	0.61	0.4	0.72	1.33	2.08
Debt to equity	0.18	0.11	0.12	0.08	0.07	0.1	0.12	0.19
Interest coverage	1.5	4.4	7.4	20	19.1	13.1	8.3	4.8
Asset turnover	0.28	0.53	0.56	0.7	0.95	0.88	0.87	0.91
Return ratios
Return on assets %	0.8%	3.1%	3%	8.8%	1%	5.9%	3.5%	3.4%
Return on capital employed %	3.9%	5.2%	5.4%	9.5%	13.1%	11%	10.1%	7.8%
Return on equity %	1%	4.2%	4.1%	11.5%	1.3%	7.9%	5.3%	5.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	52.39%	52.26%	52.2%	52.09%	51.7%	51.33%	51.19%	51.19%	51.15%	51.07%	51.07%	51.02%
	0%	1.08%	1.01%	1.81%	2.01%	1.67%	1.44%	1.29%	1.17%	0.8%	0.42%	0.11%
DII	0%	0.01%	0%	0%	0%	0%	0.11%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	47.61%	46.65%	46.79%	46.1%	46.29%	47%	47.26%	47.52%	47.68%	48.13%	48.51%	48.87%
No. of shareholders	—	—	—	—	—	—	—	—	79,828	77,365	75,470	74,142

Promoter holding down 1.37 percentage points since Sep 2023.

3 disclosures

Person	Deal	Shares	Value	Holding	Filed
Gopal TiwariKey Managerial Personnel	SellMarket Sale	5,049	₹10.23 L	0.02% → 0.01%	23 Sept 20257(2)
Gopal TiwariKey Managerial Personnel	SellMarket Sale	5,000	₹9.61 L

130 deals · 9 Nov 2021 – 28 Sept 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
28 Sept 2026	ALPHAGREP SECURITIES PRIVATE LIMITED	Bulk	NSE	Buy	3,51,704	₹121.20	₹4.26 Cr
28 Sept 2026	ALPHAGREP SECURITIES PRIVATE LIMITED	Bulk	NSE	Sell	3,51,563	₹121.21	₹4.26 Cr
24 Jun 2026	SILVERLEAF CAPITAL SERVICES PRIVATE LIMITED	Bulk	NSE	Sell	4,25,192	₹130.91	₹5.57 Cr
24 Jun 2026	SILVERLEAF CAPITAL SERVICES PRIVATE LIMITED	Bulk	NSE	Buy	4,25,192	₹130.77	₹5.56 Cr
5 May 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	3,42,319	₹131.91	₹4.52 Cr
5 May 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	3,42,319	₹131.98	₹4.52 Cr
5 May 2026	SAURABH NAYYAR	Bulk	NSE	Sell	2,97,500	₹126.59	₹3.77 Cr
5 May 2026	SAURABH NAYYAR	Bulk	NSE	Buy	2,97,500	₹127.48	₹3.79 Cr
17 Sept 2025	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	4,31,944	₹202.61	₹8.75 Cr
17 Sept 2025	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	4,31,944	₹202.50	₹8.75 Cr

1–10 of 130

1 / 13

Mr. Nitin Dhanji ShahExecutive Director-Chairperson related to Promoter-MD
Mr. Nehal N ShahExecutive Director
Mrs. Tejal Prakash ShahExecutive Director
Mr. Sunil Vasudev BhattExecutive Director
Mr. Rohan Prakash ShahExecutive Director
Mr. Milind Madhav KamatNon-Executive - Independent Director
Mrs. Swanubhuti JainNon-Executive - Independent Director
Mr. Shaktikumar LeekhaNon-Executive - Independent Director
Mr. Anup Kumar MahapatraNon-Executive - Independent Director
Mr. Narsimha Rao MannepalliNon-Executive - Independent Director
Mr. Gopal TiwariChief Financial Officer

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Allied Digital Services Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Investor Presentation and earnings call

Aug 2026Transcript AI Summary PPT REC
May 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

11

Dividend dividend28 Aug 2026 · ex-date₹1.5
Final dividend4 Sept 2025 · ex-date₹1.5
Final dividend2 Aug 2024 · ex-date₹1.5
Final dividend10 Aug 2023 · ex-date₹1.25
Final dividend20 Jul 2022 · ex-date₹1
Final dividend3 Sept 2021 · ex-date₹0.75
Final dividend27 Aug 2020 · ex-date₹0.5
Final dividend18 Sept 2012 · ex-date₹0.25
Final dividend20 Sept 2011 · ex-date₹0.5
Dividend dividend20 Sept 2010 · ex-date₹1
Dividend dividend8 Sept 2009 · ex-date₹2

1

Board meeting to consider results6 Aug 2026

1

Face value ₹10 → ₹511 Nov 2009 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

25 announcementsExport CSV

28 Sept 2026, 7:16 pmCompany Update

Announcement Under Regulation 30 Of The SEBI(LODR) Regulations, 2015 - Update On The Cancellation Of The Employee Stock Options Granted Under 'ADSL - Employee Stock Option Plan - 2020

General

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Date	Category	Subject	Filing
28 Sept 2026, 7:16 pm	Company Update General	Announcement Under Regulation 30 Of The SEBI(LODR) Regulations, 2015 - Update On The Cancellation Of The Employee Stock Options Granted Under 'ADSL - Employee Stock Option Plan - 2020	PDF
10 Sept 2026, 8:35 pm	Company Update General	Intimation Pursuant To Regulation 30 Of SEBI (LODR) Regulation, 2015 Relating To Grant Of Options Under ADSL- Employees Stock Option Plan 2020	PDF
7 Sept 2026, 6:50 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
1 Sept 2026, 9:44 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
1 Sept 2026, 8:29 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
24 Aug 2026, 7:55 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
13 Aug 2026, 7:08 pm	Company Update Earnings Call Transcript	Announcement under Regulation 30 (LODR)-Earnings Call Transcript	PDF
11 Aug 2026, 7:26 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF

Ratio	Mar 2016	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	98.3%	41.8%	41.6%	97.2%	39%	40.7%	42.2%	39.4%
EBITDA margin %	18.3%	14.4%	12.5%	14.5%	13.4%	12.1%	6.7%	5.8%
EBIT margin %	9.2%	7.7%	6.5%	10.3%	10.8%	9.8%	3%	3.7%
PAT margin %	2.7%	5.8%	5.4%	12.6%	1.1%	6.7%	4%	3.7%
Working capital
Receivable days	480	224	167	150	88	80	85	121
Inventory days	3,520	67	61	1,040	39	43	38	30
Payable days	805	—	111	1,391	34	45	50	96
NWC days	3,196	—	118	-201	93	77	73	55
Leverage
Current ratio	3.02	2.66	2.75	3.74	3.53	3.6	3.02	2.52
Debt to EBITDA	2.71	1.08	1.21	0.61	0.4	0.72	1.33	2.08
Debt to equity	0.18	0.11	0.12	0.08	0.07	0.1	0.12	0.19
Interest coverage	1.5	4.4	7.4	20	19.1	13.1	8.3	4.8
Asset turnover	0.28	0.53	0.56	0.7	0.95	0.88	0.87	0.91
Return ratios
Return on assets %	0.8%	3.1%	3%	8.8%	1%	5.9%	3.5%	3.4%
Return on capital employed %	3.9%	5.2%	5.4%	9.5%	13.1%	11%	10.1%	7.8%
Return on equity %	1%	4.2%	4.1%	11.5%	1.3%	7.9%	5.3%	5.8%

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	23	26	32	19	31	49	15	47	68	92	-79
	8	2	4	5	-11	-12	-6	-12	-3	-12	5
	-36	-31	-24	-32	-20	-3	-8	-11	-10	-18	19
Net cash flow	-4	—	13	-8	-0	34	1	24	54	61	-54
Free cash flow	—	—	—	—	—	32	8	34	64	89	-88
CFO / Operating profit %	53.4%	—	—	—	64.2%	110.6%	20.9%	53.3%	81.1%	170.6%	-139.7%

Allied Digital Services Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Investor Presentation and earnings call

Events

Dividends11

Board meetings1

Stock splits1

Announcements

Dividends11

Board meetings1

Stock splits1

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Investor Presentation and earnings call

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Ratio timeline

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Enterprise Computing based Solutions · revenue

11

1

1

11

1

1