Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹343Cr
Rev Gr TTM
Revenue Growth TTM
1.93%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

ALLETEC
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | 30.6 | 19.9 | 51.2 | 34.8 | 27.9 | 22.6 | 24.5 | 19.8 | 14.9 | 2.8 | -7.1 | -0.8 |
| 21 | 23 | 24 | 25 | 25 | 27 | 29 | 28 | 26 | 28 | 27 | 29 |
Operating Profit Operating ProfitCr |
| 10.7 | 14.3 | 16.3 | 18.4 | 19.0 | 19.7 | 19.5 | 22.0 | 26.3 | 19.2 | 20.1 | 19.9 |
Other Income Other IncomeCr | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 4 | 2 | 4 | 2 |
Interest Expense Interest ExpenseCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation DepreciationCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 4 | 5 | 6 | 7 | 7 | 8 | 9 | 10 | 13 | 8 | 10 | 8 |
| 1 | 1 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 2 | 3 | 2 |
|
Growth YoY PAT Growth YoY% | 62.3 | 38.7 | 40.4 | 57.8 | 78.7 | 52.4 | 39.4 | 34.6 | 82.3 | 2.4 | 10.3 | -14.2 |
| 13.0 | 15.0 | 16.6 | 17.8 | 18.2 | 18.6 | 18.6 | 20.0 | 28.9 | 18.6 | 22.1 | 17.3 |
| 1.5 | 2.0 | 2.4 | 2.6 | 2.7 | 3.1 | 3.3 | 3.6 | 5.0 | 3.1 | 3.6 | 3.1 |
| Financial Year | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | 14.0 | 14.4 | 25.2 | 32.7 | 20.3 | -1.4 |
| 52 | 51 | 59 | 76 | 96 | 109 | 109 |
Operating Profit Operating ProfitCr |
| 2.7 | 16.9 | 15.4 | 13.8 | 17.1 | 21.9 | 21.4 |
Other Income Other IncomeCr | 2 | 2 | 1 | 4 | 7 | 10 | 12 |
Interest Expense Interest ExpenseCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation DepreciationCr | 0 | 0 | 1 | 1 | 1 | 1 | 1 |
| 3 | 12 | 11 | 15 | 26 | 40 | 40 |
| 1 | 2 | 3 | 4 | 6 | 10 | 10 |
|
| | 444.0 | -15.5 | 40.9 | 70.4 | 52.9 | -0.6 |
| 3.3 | 15.9 | 11.7 | 13.2 | 17.0 | 21.6 | 21.7 |
| 1.6 | 5.9 | 6.9 | 7.2 | 9.8 | 14.9 | 14.8 |
| Financial Year | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 1 | 1 | 15 | 20 | 20 | 20 | 20 |
| 30 | 38 | 29 | 80 | 99 | 124 | 135 |
Current Liabilities Current LiabilitiesCr | 11 | 13 | 16 | 20 | 30 | 24 | 36 |
Non Current Liabilities Non Current LiabilitiesCr | 0 | 3 | 2 | 3 | 3 | 4 | 4 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 33 | 47 | 56 | 112 | 141 | 163 | 172 |
Non Current Assets Non Current AssetsCr | 9 | 9 | 8 | 12 | 11 | 10 | 24 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | -3 | 12 | 9 | 14 | 16 | 22 |
Investing Cash Flow Investing Cash FlowCr | 0 | -8 | -3 | -58 | -13 | -7 |
Financing Cash Flow Financing Cash FlowCr | -1 | 0 | -4 | 44 | -2 | -6 |
|
Free Cash Flow Free Cash FlowCr | -3 | 12 | 9 | 14 | 16 | 22 |
| -191.4 | 122.5 | 103.6 | 119.4 | 81.7 | 73.4 |
CFO To EBITDA CFO To EBITDA% | -239.9 | 115.3 | 78.8 | 113.8 | 81.1 | 72.2 |
| Financial Year | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 0 | 0 | 0 | 176 | 508 | 670 |
Price To Earnings Price To Earnings | 0.0 | 0.0 | 0.0 | 15.2 | 25.8 | 22.2 |
Price To Sales Price To Sales | 0.0 | 0.0 | 0.0 | 2.0 | 4.4 | 4.8 |
Price To Book Price To Book | 0.0 | 0.0 | 0.0 | 1.8 | 4.3 | 4.6 |
| -13.8 | -3.1 | -3.5 | 6.7 | 19.7 | 17.3 |
Profitability Ratios Profitability Ratios |
| 58.9 | 63.8 | 62.7 | 67.3 | 64.3 | 66.4 |
| 2.7 | 16.9 | 15.4 | 13.8 | 17.1 | 21.9 |
| 3.3 | 15.9 | 11.7 | 13.2 | 17.0 | 21.6 |
| 8.4 | 30.5 | 25.7 | 15.2 | 22.0 | 27.5 |
| 5.8 | 24.9 | 18.5 | 11.5 | 16.6 | 20.9 |
| 4.3 | 17.4 | 12.9 | 9.4 | 13.0 | 17.4 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
All e Technologies Limited, operating as **Alletec**, is a leading digital transformation solutions provider specializing in **Microsoft Business Applications and AI-powered enterprise solutions**. Founded in July 2000 and publicly listed on the NSE in December 2022, Alletec delivers comprehensive services across Digital Core Modernization, Enterprise Applications, Data & AI, Cybersecurity, and System Integration. With over 25 years of experience, the company has executed **1,000+ projects across 30+ countries**, serving more than 250 active customers in key industries such as Manufacturing, Financial Services, Retail, Higher Education, Green Energy, Travel, and Digital Natives.
Alletec operates as a **strategic catalyst** in digital transformation, leveraging its deep domain expertise, proprietary intellectual property (IP), and an AI-first, consulting-led approach built on the **Microsoft technology stack**—including Dynamics 365, Power Platform, Azure, and AI Copilots.
---
### **Core Offerings & Capabilities**
#### **1. Digital Transformation Services**
Alletec provides end-to-end digital transformation through a unified suite of services:
- **Digital Core Modernization**: Migrating legacy ERP systems (e.g., AX, NAV, GP, SL) to cloud-based Dynamics 365 Finance & Supply Chain.
- **Enterprise Applications**: ERP (Dynamics 365), CRM, Human Capital Management, Commerce, Project Operations.
- **Data & AI Solutions**: Data engineering using Microsoft Fabric, Power BI for business intelligence, AI integration (e.g., Power Virtual Agents, generative AI), and predictive analytics.
- **System Integration & Process Optimization**: Connecting disparate systems (ERP, CRM, WMS, eCommerce) and automating workflows using Power Automate and RPA.
- **Change Management & Consulting**: Strategic advisory from assessment to post-implementation support.
#### **2. IP-Led Industry Solutions**
Alletec has developed a portfolio of **proprietary, industry-specific solutions** that accelerate implementations and drive higher-margin revenue:
- **EdTech365**: Integrated solution for Higher Education covering admissions, student lifecycle, LMS, alumni engagement, and finance.
- **Travel365**: Built on Dynamics 365, supports B2B/B2C travel firms with mid-office operations and financial accounting, integrated with GDS (Amadeus, Sabre).
- **GreenPower**: Tailored for renewable energy and EPC projects, managing cost estimation, equipment tracking, subcontracting, and site acquisition.
- **Engineer to Order Manufacturing**: For discrete manufacturing with custom product configurations.
- **Xtended WMS, ProActivate, Cyborg, CEKonnect, DIMIST, AutoTax365, P2P365**: Horizontal and vertical accelerators that reduce custom coding and accelerate time-to-value.
#### **3. Microsoft Cloud & AI Focus**
- **Cloud Solution Provider (CSP) Tier-I status** in India, USA, Canada, Africa, and Singapore.
- Facilitates cloud migration (IaaS/PaaS/SaaS) to **Microsoft Azure**, offering managed services across hybrid, public, and private cloud environments.
- A recognized **Microsoft ISV Development Center** and **AIM Modernization Center**.
- Deep integration of **Microsoft Copilot and generative AI** across internal processes and client solutions to enhance productivity and decision-making.
#### **4. Cybersecurity Expansion**
- Recently launched a **consulting-led cybersecurity practice**, differentiating from traditional product-based vendors.
- Focus on **API security, cloud security, application security**, and compliance.
- Combines Microsoft’s cloud-native tools with third-party enterprise-grade solutions.
#### **5. Agile Hybrid Delivery Model**
- Combines strategic co-design with iterative Agile sprints to minimize disruption.
- Clients participate in roadmap creation, ensuring alignment with long-term business goals.
- Supported by global delivery centers with India as the primary delivery hub and on-site teams in key markets.
---
### **Strategic Growth Drivers**
#### **1. AI-First Strategy**
- AI is embedded across **offering portfolios and internal operations** (pre-sales, development, support).
- Positioned as a **strategic enabler**, not a threat—helping clients adopt AI through PoCs and scalable pilots.
- AI-powered solutions are growing **faster than the market**, with strong traction in financial services, retail, and education.
#### **2. IP-Led Revenue Model**
- ~42% of revenue comes from **product-based offerings**, including Microsoft products and proprietary IP.
- IP solutions generate **high-margin, recurring revenue** and are key differentiators in competitive bids.
- Version 2.0 upgrades are underway for core IP products with embedded AI to enhance functionality and scalability.
#### **3. International Expansion**
- Revenue distribution (FY25): **61.6% Americas, 24.2% India, 4.9% Africa, 3.7% Europe, 3.2% APAC, 2.4% Middle East**.
- Strategic focus on **Africa and the Americas**, supported by physical offices in Nairobi, Dallas, UAE, and Switzerland.
- Recently **won a $3 million, 3-year contract with a Canadian regulatory body**, outcompeting Deloitte and CGI.
- Secured a major tender in **Saudi Arabia** and is expanding sales teams in UAE and North America.
#### **4. Inorganic Growth & Acquisitions**
- Actively evaluating **M&A opportunities** in:
- **Microsoft Business Applications**
- **Data & AI**
- **Digital Commerce**
- Targeting firms with $2M+ revenue and global customer bases to enhance capabilities and geographic reach.
- Potential acquisitions of AI startups under consideration.
#### **5. Cross-Selling & Wallet Share Expansion**
- Strong focus on increasing **revenue per customer** by expanding services beyond initial ERP/CRM implementations.
- Follow-on opportunities in **CRM, data engineering, contact centers, security, and AI**.
- ~91–95% of revenue is **recurring or repeat business**, with long-term contracts and high retention.
---
### **Market Position & Competitive Advantages**
#### **Sustainable Competitive Edge**
- **Deep Microsoft Expertise**: 20+ year partnership; recognized as a top-tier implementation partner.
- **Proprietary IP Portfolio**: Differentiates from volume-based IT firms and enables faster deployments.
- **Consulting-Led, Outcome-Focused Model**: Solves business problems—not resource supply.
- **Global, Multi-Location Delivery Model**: India-centric with local presence to ensure on-the-ground engagement.
- **Agile, Affordable, Accountable** brand promise ensures client trust and cost efficiency.
- **Not reliant on H-1B visas** due to offshore delivery model.
#### **Client Outcomes & Differentiation**
- Delivered measurable results including:
- 35% reduction in stockouts
- 65% faster workflow cycles
- 18% lower inventory costs
- 15% increase in retail sales (Africa case study)
- Successfully replaced fragmented legacy systems with unified platforms, improving operational efficiency and data consistency.
---
### **Financial & Operational Highlights**
- **Revenue Growth**: Grew from ₹77–78 crores at IPO (2022) to nearly **₹140 crores** in FY25—driven by international expansion, IP-led sales, and market timing.
- **High International Growth**: International services revenue grew **36% YoY in FY23**, now accounting for over **85% of total revenue**.
- **EBITDA Growth**: 70% YoY growth in FY24, reflecting improved margins from IP and recurring revenue.
- **Customer Base**: ~250 active customers; top 10 account for 26.6% of revenue—indicating diversification.
- **Employee Strength**: ~360 professionals across India, USA, UAE, Africa, and Europe.
---
### **Recent Wins & Key Engagements (2024–2025)**
1. **Africa’s Leading Supermarket Chain (RSNL)**: Unified commerce platform using D365 BC + LS Central across 35 stores; resulted in **15% sales increase, 25% reduction in overstocking**.
2. **U.S. Cosmetics Wholesaler**: Modernized inventory and order fulfillment using D365, Power Platform, and Xtended WMS; enabled real-time visibility and robotic automation.
3. **North American Insurance Provider**: Transformed customer engagement with D365 Contact Center, improving scalability and insights.
4. **Global Private Equity Firm**: Integrated data from 300+ investee companies using Azure analytics for cross-border KPI tracking.
5. **Bank of Kigali (Rwanda)**: CRM implementation created follow-on opportunities in African banking.
6. **Major Online Services Provider**: Data warehouse modernization and AI-driven analytics implementation.