Allied Digital Services Limited (ADSL) share price
₹104.13 on NSE as of 2026-09-04. -0.69% on the day. market cap ₹589 Cr. P/E 16.3. 52-week range ₹87.17 to ₹203.19. Information Technology.
Allied Digital Services Q1 FY27: Revenue ₹260 Cr, Order Bookings ₹120+ Cr, and a 16.4x Multiple
At a glance
Allied Digital Services booked ₹260 crore of revenue in the June 2026 quarter, up 18.9% from ₹219 crore a year earlier. Operating profit came in at ₹23 crore against ₹19 crore, and PAT landed at ₹12.4 crore versus ₹14.4 crore. Management explains the PAT direction by the tax line: the year-ago quarter carried a tax benefit of roughly ₹0.3 crore from deferred tax asset recognition, while this quarter carried a provision of about ₹4.5 crore.
Trailing twelve-month revenue is ₹1,009 crore. Management flagged the ₹1,000 crore crossing as a milestone set roughly three years earlier, positioning it as a base rather than a finish line — which is the sort of thing companies say when they've just hit a round number and would prefer you keep reading.
Elsewhere in the quarter: three leadership changes effective July, ₹120-plus crore of order bookings, and — per management — an audit report that for the first time carries no qualifications or observations. A company that spent 42 years in IT services has, on management's telling, just achieved a clean sheet of paper.
The market pays 16.4x. Industry P/E sits at 26.1.
Introduction
Allied Digital was established in 1984 as an IT hardware support outfit, which in 1984 India meant something closer to keeping machines alive than transforming anything. Software support and networking followed in 1988. It incorporated as a private limited company in 1995, became a Microsoft Solution Provider Partner in 1997, and listed on BSE and NSE in 2007 after converting to a public limited company.
In 2008 it acquired EnPointe Global Services LLC, which is how a Mumbai company ended up with a Los Angeles office and a US subsidiary structure that would later require its own paragraph in the audit report. Cloud computing management and security services launched in 2009. In 2015 it executed the Pune City Surveillance project — India's first Smart City project, per the company. The AI-driven IT automation platform ADiTaaS launched in 2018 and was rebranded Digital Desk in 2024.
The last twelve months have been busier at the top of the org chart than usual. On 18 June 2026 the board appointed Nehal Shah Joint Managing Director effective 1 July. Paresh Shah ceased as CEO on 30 June and was appointed Chief Innovation Officer from 1 July. Arun Pathak joined as CEO, Cloud and Infrastructure Services for India and the Middle East, effective 3 July, arriving from NTT DATA after 19 years there.
In August 2025 the company announced a ₹420 crore five-year IT services contract from a European pharma company. In March 2026 Allied Digital Inc converted a USD 12.89 million loan into 6,868 shares at USD 1,877.99 apiece. And in February 2026, the board approved Q3 results alongside auditor qualifications concerning roughly ₹136.98 crore of property, plant and equipment.
Forty-two years, 70-plus countries, 20 offices, 3,500-plus employees. The AGM is on 1 September 2026, the 32nd.
Business model
Allied Digital describes itself as a global IT consulting and services provider and Master Systems Integrator. In practice this splits two ways, and the company is refreshingly explicit about which is which.
**Services (recurring)** are the annuity: continuous long-term support, service desks, endpoint management, infrastructure operations. The company states the initial margin profile is lower than Solutions but offers greater margin potential and stability over time, with strong retention. In Q1 FY27, Services were 83% of revenue at ₹215 crore.
**Solutions (projects)** are the one-time implementations — system upgrades, new-site infrastructure, transformative initiatives. Higher margin profile, the company says, and successful work leads to further engagements. Q1 FY27: 17%, ₹45 crore. A year earlier the split was 75/25.
The service portfolio runs across five named buckets: AI Ops & Automation, Cloud Infrastructure Services, Cyber Security & Networking, Software Services, and Digital Workplace Services. Underneath sit the things that actually get billed — password resets, account unlocks, deskside breakfix, IMAC services, e-waste management, SIEM, EDR/MDR/XDR, multi-cloud migration, and Command and Control Systems for cities that would like to watch themselves.
Geographically, Q1 FY27 revenue was 27% India and 73% Rest of World — ₹71 crore and ₹189 crore. A year earlier it was 37/63. By customer type: Enterprise 82% (₹214 crore), Government 18% (₹46 crore), against 68/32 a year ago.
So: three ratios, all three moved in the same quarter, all three toward the international enterprise end. The company reports 175 customers, 10 of them Fortune 100, and 14 Smart or Safe City projects.
Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Allied Digital Services Limited.
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