Alphalogic Techsys Ltd (542770)
🎯 Key Takeaways
- Alphalogic Techsys Ltd appears to be in a structural transition phase, marked by declining revenue trends and volatile profitability despite stable margins. The company maintains a strong balance sheet with minimal debt and high ROCE, but its financial trajectory shows signs of contraction, particularly in top-line growth.
- Revenue declined 20.7% QoQ to ₹10 in Q1FY27.
- ⚠️ Sustained revenue decline from peak levels with no visible recovery path.
- Market Cap
- ₹251
- P/E Ratio
- 32.6
- P/B Ratio
- 4.83
- ROE
- 9.8%
- ROCE
- 11.2%
- Debt/Equity
- 0.86
- Promoter
- 73.8%
📖 The Story
Alphalogic Techsys Ltd appears to be in a structural transition phase, marked by declining revenue trends and volatile profitability despite stable margins. The company maintains a strong balance sheet with minimal debt and high ROCE, but its financial trajectory shows signs of contraction, particularly in top-line growth. Management has not provided forward guidance in recent filings, and there is no indication of active capital allocation initiatives beyond routine operations.
📰 What's Happening
The most recent quarter (June 2026) reported revenue of ₹10 crore, down from ₹17 crore in September 2025, signaling sustained demand weakness. Operating profit remained flat at ₹2 crore, but OPM declined to 17% from 24% in the prior peak quarter, reflecting margin compression. Management has not announced new client wins or order book growth in recent filings, and there is no mention of strategic pivots or new product launches in the latest BSE disclosures.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | 11 | 17 | 10 | 13 | 10 |
| Operating Profit | 2 | 3 | 2 | 2 | 2 |
| OPM % | 13.8% | 15.2% | 24.0% | 14.7% | 17.0% |
| Net Profit | 2 | 2 | 2 | 2 | 2 |
| EPS | ₹0.39 | ₹0.23 | ₹0.22 | ₹0.26 | ₹0.27 |
Revenue has declined 41% from its peak of ₹17 crore in September 2025 to ₹10 crore in June 2026, with operating margins also trending downward from 24% to 17%. While profitability in absolute terms remains stable at ₹2 crore OP, the trend suggests pricing pressure or volume erosion, which management has not addressed with corrective measures in disclosed commentary. EPS has remained flat around ₹0.26–0.27 over the last four quarters, indicating no leverage from scale or cost control.
🔮 Management Outlook & What's Next
There is no forward guidance or strategic outlook provided in the latest management commentary from the June 2026 quarter filing. Previous filings from December 2025 and March 2026 also lack specific revenue targets or growth projections. Management has not discussed market expansion, product development, or customer diversification strategies in recent disclosures.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 31 | 31 | 31 | 31 |
| Reserves | 16 | 13 | 21 | 18 |
| Borrowings | 1 | 9 | 45 | 5 |
| Total Liabilities | 64 | 70 | 118 | 79 |
| Fixed Assets | 1 | 1 | 2 | 2 |
| Investments | 10 | 12 | 1 | 10 |
| Total Assets | 64 | 70 | 118 | 79 |
The balance sheet shows stable equity of ₹31 crore and reserves increasing slightly to ₹21 crore by March 2026, indicating no major capital erosion. However, borrowings rose sharply to ₹46 crore from ₹1 crore in the prior period, suggesting potential liquidity strain or funding of non-operating activities. Total assets grew to ₹118 crore, but this appears driven by asset reclassification rather than operational expansion, with no corresponding revenue growth to justify the scale.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 | Mar 2026 |
|---|---|---|
| Operating | +2 | -31 |
| Investing | -0 | -17 |
| Financing | -2 | +49 |
| Net Cash Flow | +0 | +0 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 73.8% | 73.8% | 73.8% | 73.8% |
| FII | 0.0% | 0.0% | 0.0% | 0.0% |
| DII | 0.0% | 0.0% | 0.0% | 0.0% |
| Public | 25.6% | 25.6% | 25.6% | 25.6% |
| # Shareholders | 11,075 | 10,592 | 10,210 | 10,020 |
Promoter holding remains stable at 73.78% with no pledging disclosed, but institutional interest is absent — FII and DII holdings are consistently at 0% across all recent quarters. The number of public shareholders has gradually declined from 11,075 to 10,020, indicating retail erosion. No insider buying or activist activity has been reported, and there is no evidence of activist accumulation or strategic investor interest.
⚖️ Peer Comparison — IT - Software
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| TCS | 7.37 L Cr | 14.8 | 63.2% | — | 0.00 |
| INFY | 4.08 L Cr | 13.6 | 44.9% | — | 0.00 |
| HCLTECH | 3.32 L Cr | 19.0 | 31.6% | — | 0.00 |
| WIPRO | 1.55 L Cr | 12.4 | 18.1% | — | 0.19 |
| TECHM | 1.51 L Cr | 26.6 | 24.8% | — | 0.00 |
| LTM | 1.21 L Cr | 23.2 | 30.5% | — | 0.00 |
| OFSS | 94,385 | 27.6 | 60.3% | — | 0.00 |
| PERSISTENT | 83,939 | 43.2 | 32.7% | — | 0.00 |
| COFORGE | 78,489 | 36.0 | 25.6% | — | 0.04 |
| MPHASIS | 41,765 | 21.8 | 22.3% | — | 0.17 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Sustained revenue decline from peak levels with no visible recovery path. 2. Margin compression despite stable input costs, suggesting pricing pressure or inefficiency. 3. Rising borrowings without corresponding asset growth or operational investment. 4. Complete absence of institutional ownership, which may limit liquidity and analytical coverage.
📋 Recent Filings
- 🔴 Announcement2026-09-29Alphalogic Techsys announced that Alphalogic Industries has ceased to be a subsidiary and become an associate after a warrant conversion allotment dil…
- Announcement2026-09-28Alphalogic Techsys Ltd announced the closure of its trading window for designated persons and immediate relatives from October 1, 2026, through at lea…
- 🟡 Board Meeting2026-09-26Alphalogic Techsys held its 8th AGM on September 26, 2026 via video conference, with 32 shareholders present including 4 directors. The meeting covere…
- 🟡 voting results2026-09-26Alphalogic Techsys shareholders approved all three AGM resolutions via e-voting, including adoption of FY2026 audited financials, reappointment of Dir…
- 🔴 Corporate Action2026-09-15Alphalogic Techsys announced on September 15, 2026, that its board approved the preferential allotment of 18 lakh convertible warrants to Vivaro Enter…
- 🟡 Board Meeting2026-09-15Alphalogic Techsys announced a board-approved preferential allotment of 18 lakh convertible warrants to Vivaro Enterprises Limited at ₹30 per warrant,…
- 🟡 Board Meeting2026-09-03Alphalogic Techsys Ltd announced its 8th Annual General Meeting scheduled for September 26, 2026 at 2:00 p.m. via video conference, with notice dispat…
- 🔴 annual report2026-09-03Alphalogic Techsys Limited's 2025-26 Annual Report details its financial performance, strategic shifts toward bio-ethanol and industrial storage, and …
- 🟡 Board Meeting2026-09-02Alphalogic Techsys announced the outcome of its September 2, 2026 board meeting, approving the notice for its 8th Annual General Meeting scheduled for…
- 🟡 Board Meeting2026-09-02Alphalogic Techsys announced its board approved the notice for the Eighth Annual General Meeting scheduled for 26 September 2026 at 2:00 p.m. via VC/O…
🧠 Analyst's Read
The company is navigating a quiet deterioration in core business momentum, with management remaining silent on corrective actions or future strategy. Without a clear catalyst or improved visibility into demand trends, the current trajectory raises concerns about long-term sustainability, despite the strong balance sheet and historical profitability metrics.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-30.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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