BSE: 542770
Alphalogic Techsys Limited
Manufactures racks through its flagship Manufacturing of Racks segment, which contributed ₹45.0764 crore of segment revenue in FY26 and represented 100% of period segment revenue per the segment disclosures. Total consolidated revenue from operations stood at ₹50.5482 crore in FY26. Alongside rack-making, the company runs smaller Information Technology services, a Biofuels segment that recorded zero revenue in FY26 while still incurring costs, and an Investment segment that earns on holdings. Costs are dominated by materials at 79.9% of revenue, with employee costs at 1.9% and other operating expenses at 3.5% of revenue. The business is investing heavily — capex runs at 22.3% of revenue — and total assets reached ₹117.545 crore at FY26 end, supported by a sharp rise in non-current borrowings tied to the biofuels asset buildout. Despite the revenue decline, profitability improved, with EBITDA margin at ~22% and net profit of ₹7.5906 crore in FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Manufacturing of Racks (100%), Information Technology, Biofuels, Investment. Multi-segment with a dominant physical rack-manufacturing business, smaller IT services, an asset-heavy biofuels buildout still in construction, and an investment segment.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 12 | 22 | 54 | 78 | 51 |
| EBITDA (ex other income) | 1 | 5 | 6 | 7 | 9 |
| margin % | 10.2 | 24.1 | 11.3 | 8.8 | 17.4 |
| Owners' profit | 2 | 3 | 4 | 5 | 5 |
| EPS, as reported (₹) | 1.00 | 1.19 | 1.12 | 1.01 | 1.21 |
| ROE % · ROCE % | 11.0 · 18.3 | 14.2 · 20.8 | 10.8 · 15.6 | 10.9 · 15.4 | 11.5 · 10.0 |
| Debt / equity (x) | 0.23 | 0.25 | 0.10 | 0.01 | 0.68 |
| Cash from operations | (6) | (7) | 0 | 2 | (31) |
| Capex | (3) | (2) | (3) | (6) | (11) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 24 | 19 | 21 | 15 | 11 | 17 | 10 | 13 |
| Profit before tax | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 2 |
| Net profit | 2 | 2 | 2 | 1 | 2 | 2 | 2 | 2 |
| EPS (₹) | 0.36 | 0.27 | 0.26 | 0.19 | 0.26 | 0.36 | 0.33 | 0.26 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Information Technology | 2 | 4.1 |
| Biofuels | 1 | 2.9 |
| investment | 0 | 0.7 |
| Manufacturing of Racks | 45 | 89.1 |
| Investment | 2 | 3.3 |
| Total, before eliminations | 51 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TATA CONSULTANCY SERV LT | 9,05,941 | 17.5 | 7.55 | 12.4 | 22.8 | 27.5 | 10.2 | 25.7 |
| INFOSYS LIMITED | 4,80,873 | 15.7 | 4.83 | 10.8 | 15.7 | 20.1 | 12.2 | 23.7 |
| HCL TECHNOLOGIES LTD | 3,87,729 | 21.1 | 5.09 | 14.2 | 12.8 | 14.9 | 11.5 | 21.0 |
| WIPRO LTD | 1,96,426 | 15.6 | 2.48 | 11.4 | 8.3 | 9.2 | 8.4 | 19.6 |
| TECH MAHINDRA LIMITED | 1,75,534 | 28.7 | 5.83 | 19.1 | 10.3 | 12.9 | 8.5 | 17.8 |
| LTM LIMITED | 1,25,312 | 24.0 | 4.83 | 16.3 | 11.0 | 13.2 | 27.9 | 17.7 |
| PERSISTENT SYSTEMS LTD | 95,407 | 52.5 | 11.11 | 33.8 | 9.7 | 11.7 | 28.6 | 13.6 |
| COFORGE LIMITED | 90,594 | 32.1 | 4.02 | 30.6 | — | — | 28.6 | 19.5 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 29.8 | 17.5 | 50 of 67 | 26% |
| P/B | 3.4 | 2.5 | 38 of 65 | 42% |
| ROCE | 9.5 | 10.6 | 42 of 74 | 44% |
| ROE | 11.5 | 8.7 | 19 of 62 | 71% |
| Debt / Equity | 0.7 | 0.0 | 57 of 65 | 13% |
| EBITDA margin | 15.1 | 16.2 | 43 of 76 | 44% |
| Revenue growth | (12.8) | 10.6 | 54 of 63 | 15% |
| Profit growth | 36.4 | 1.0 | 13 of 62 | 80% |
| Market cap | 225 | 401 | 45 of 78 | 43% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 25 Oct 2026 · Board meeting set for October 31, 2026 to approve September results | results | low | — | — |
| 8 Oct 2026 · Quarterly dematerialization compliance certificate filed with BSE | compliance | minimal | — | — |
| 29 Sept 2026 · AIL ceases to be subsidiary, becomes associate after warrant conversion | strategic transactions | medium | — | — |
| 28 Sept 2026 · Trading window closed from 1 Oct 2026 ahead of H1 results | compliance | minimal | — | — |
| 26 Sept 2026 · AGM 2026 results: all 3 resolutions passed with over 99 percent approval | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Alphalogic Techsys 8th AGM held via video conferencing on Sept 26, 2026 | board shareholder meetings | low | — | — |
| 15 Sept 2026 · Allotment of 18 lakh convertible warrants to non-promoter entity at Rs 30 | fund raising | high | — | — |
| 15 Sept 2026 · Board allots 18 lakh convertible warrants to non-promoter entity at Rs 30 each | fund raising | high | — | — |
| 4 Sept 2026 · Newspaper advertisement for 8th AGM and e-voting notice | compliance | minimal | — | — |
| 3 Sept 2026 · Alphalogic Techsys FY26 Annual Report with AGM Notice filed | results | high | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.