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Allsec Technologies Limited (532633) Fair Value & Analysis

Services · IN · Market cap ₹4.1B

AT Allsec Technologies Limited 532633 · BSE
Price₹810.60
Fair Value₹605.57
Upside-25.3%
Quality83/100
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Mixed Growth
Solidly profitable · 11.6% net margin
Low debt
Ranks above peers (9/13)
Moderate moat 56/100
Evidence: Medium Range ₹400.45 – ₹841.68 Share as image

Fair value as of: Aug 18, 2026

From 26 valuation models · updated today

Share price +2.6% over the past month.

A strong business, but screening 25% overvalued on our models.

What matters now

  • A high-quality business (quality 83/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • A fairly wide model range (₹400.45 to ₹841.68) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹1,064 ₹210.82 Fair Value ₹605.57 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 18, 2026.

How to read this chart

60‑month range ₹210.82 – ₹1,064 · fair‑value band ₹400.45 – ₹841.68 · the ₹810.60 price screens above the ₹605.57 fair value. Dashed = 300-day average. As of Aug 18, 2026.

Full chart & analysis →

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Analysis

Allsec Technologies Limited (532633) currently trades at ₹810.60, while our model-based Fair Value estimate is ₹605.57, implying the stock looks roughly 25.3% overvalued today. The Quality Score stands at 83/100 (high quality), in the Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Allsec Technologies Limited generated revenue of ₹2.7B at a net margin of 11.6%. Revenue declined 14.5% year over year. It earns a return on equity of 14.3%. The stock trades on a trailing P/E of 11.7 (as of Aug 18, 2026). Fundamentals as of Aug 18, 2026

Our scenario range runs from ₹400.45 (bear case) to ₹841.68 (bull case); at ₹810.60, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 13% below its 52-week high and 24% above its 52-week low, currently above its 200-day average. For context, the median of 10 Services peers we cover trades at 6% fair-value upside, at -25%, 532633 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹491.88 ₹775.57 ₹1,221 80
Residual Income ₹194.75 ₹241.94 ₹682.54 76
Rev-Margin DCF ₹414.94 ₹648.22 ₹942.13 74
All 26 models by family
DCF Models
FCF DCF ₹493.67 ₹800.15 ₹1,297 38
Owner Earnings ₹539.06 ₹877.54 ₹1,426 31
5Y Revenue Exit ₹414.94 ₹650.89 ₹963.39 39
5Y EBITDA Exit ₹547.19 ₹917.19 ₹1,373 41
5Y P/E Exit ₹510.62 ₹843.56 ₹1,216 38
10Y Revenue Exit ₹428.43 ₹656.04 ₹988.81 36
10Y EBITDA Exit ₹523.62 ₹844.28 ₹1,317 37
10Y P/E Exit ₹500.14 ₹792.23 ₹1,191 35
Earnings-Based
Graham-Dodd ₹218.03 ₹930.51 ₹1,271 54
Lynch FV ₹237.69 ₹339.56 ₹441.42 50
PEG = 1.0 ₹237.69 ₹339.56 ₹441.42 46
EPV ₹344.83 ₹389.96 ₹428.90 59
Dividend Discount
Gordon GGM ₹175.67 ₹350.04 ₹530.06 70
DDM Multi-Stage ₹175.67 ₹302.51 ₹369.49 61
Multiples
P/E Multiple ₹505.01 ₹673.34 ₹841.68 63
P/S Multiple ₹384.34 ₹512.46 ₹640.57 58
P/B Multiple ₹408.82 ₹545.09 ₹681.36 55
EV/EBIT ₹562.54 ₹730.38 ₹898.23 53
EV/EBITDA ₹624.82 ₹813.42 ₹1,002 54
EV/Revenue ₹381.86 ₹520.22 ₹658.59 43
Asset-Based
NCAV (Graham) ₹75.36 ₹100.99 ₹150.73 50
Growth DCF
Growth DCF ₹491.88 ₹775.57 ₹1,221 80
Rev-Margin DCF ₹414.94 ₹648.22 ₹942.13 74
Economic Profit
Residual Income ₹194.75 ₹241.94 ₹682.54 76
ROIC Compounder ₹373.69 ₹460.17 ₹561.71 72
Growth Earnings
Growth-Adj P/E ₹399.60 ₹570.86 ₹742.12 68

Widest divergence: DCF Models (₹800.15) versus Asset-Based (₹100.99). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹2.7B
Revenue growth (YoY) -14.5%
Net margin 11.6%
Return on equity 14.3%
P/E ratio 11.7 as of Aug 18, 2026
Operating margin 14.8%
More key figures
EPS (TTM) ₹20.92
EPS growth (YoY) -52.2%

Figures from reported company fundamentals · as of Aug 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 83/100

Of which business quality 82 · Market factors (momentum, volatility) 38

Profitability 81
Margins and returns on capital today
Quality Growth 79
Are margins and returns improving?
Cashflow 68
Earnings quality: real cash, not paper profit
Fin. Strength 98
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 46
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 36
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Allsec Technologies Limited, through its subsidiaries, provides business process solutions in India, the United States, the Philippines, and internationally. The company operates through Customer Lifecycle Management, Anti Money Laundering, and Human Resource Outsourcing segments.

Full company description

Allsec Technologies Limited, through its subsidiaries, provides business process solutions in India, the United States, the Philippines, and internationally. The company operates through Customer Lifecycle Management, Anti Money Laundering, and Human Resource Outsourcing segments. Its services include data verification, processing of orders received through telephone calls, telemarketing, monitoring quality of calls of other call centers, customer services, human resource, and payroll processing; and time and attendance management, statutory compliance support, lead generation, credit risk management, FAO and transaction processing, healthcare RCM, and customer retention and relationship management services. The company also offers vouching, screening, and other services; and outsourced solutions in customer engagement, sales and retention, and quality assurance for businesses, such as BFSI, mortgage, telecommunication, retail, healthcare, energy and utilities, and technology. Allsec Technologies Limited also exports its services. The company was founded in 1998 and is headquartered in Chennai, India. Allsec Technologies Limited is a subsidiary of Conneqt Business Solutions Limited.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2019 – FY2023 · reported fiscal years

Allsec Technologies Limited reported revenue of ₹3.9B in FY2023 versus ₹2.6B in FY2019, a compound +10.6%/yr. Reported net income was ₹489M in FY2023, compounding +32.9%/yr from FY2019.

Growth Quality 68/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2023)
₹3.9B
Latest YoY
+23.1%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.9%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+3.7%
Avg. growth/yr (9Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+7.7%
Revenue +10.6%/yr
FY19 ₹2.6B
FY20 ₹2.9B
FY21 ₹2.8B
FY22 ₹3.2B
FY23 ₹3.9B
Net income +32.9%/yr
FY19 ₹157M
FY20 ₹449M
FY21 ₹351M
FY22 ₹356M
FY23 ₹489M

532633 screens 25% overvalued. Compare with eClerx Services Limited →

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Cite: Fair Value Calculator (2026). "Allsec Technologies Limited Fair Value". https://www.fairvalue-calculator.com/stock/532633

Peer Group

Industrials · 5366 stocks

How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Business Services” was too small, so the broader sector is used.)

Quality Score 83 · Top 25%
Fair Value upside −25% · Below median
Return on equity (TTM) 14% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) 15% · Top 25%
Revenue growth -15% · Bottom 25%
Dividend yield (TTM) 7.4% · Top 25%

Valuation Multiples vs Industrials median · lower = cheaper

P/E (TTM) 11.7× · Cheaper than 75% of peers
P/B 1.80× · Pricier than median
P/S (TTM) 1.51× · Pricier than median
EV/EBITDA 7.0× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 5
FUTURE 0 · sector 23
PAST 57 · sector 27
HEALTH 100 · sector 94
DIVIDEND 100 · sector 38

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Business Services stocks, each showing price versus our Fair Value estimate (as of Aug 18, 2026).

Stock Price Fair Value vs Fair Value
eClerx Services Limited 532927 ₹1,854 ₹3,208 +73%
Repro India Limited 532687 ₹327.45 ₹38.77 -88%
Inducto Steels Limited 532001 ₹60.00 ₹63.32 +6%
PVR Limited 532689 ₹1,192 ₹783.79 -34%
Ramkrishna Forgings Limited 532527 ₹742.70 ₹2,216 +198%
Saregama India Limited 532163 ₹531.35 ₹2,119 +299%
TAJGVK Hotels & Resorts Limited 532390 ₹337.95 ₹258.32 -24%
Entertainment Network (India) Limited 532700 ₹101.00 ₹48.39 -52%
Oriental Hotels Limited 500314 ₹126.45 ₹33.58 -73%
Oriental Veneer Products Limited 531859 ₹109.80 ₹156.73 +43%

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Frequently asked questions

Is Allsec Technologies Limited (532633) overvalued or undervalued?
As of Aug 18, 2026, our model estimates a fair value of ₹605.57 versus a price of ₹810.60, about −25% (overvalued).
What is the fair value of 532633?
Our model-based fair value for Allsec Technologies Limited is ₹605.57 (as of Aug 18, 2026), built from audited fundamentals. The current price is ₹810.60.
What is the quality score of 532633?
Allsec Technologies Limited has a Quality Score of 83/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Allsec Technologies Limited (532633)?
Allsec Technologies Limited reported trailing-twelve-month revenue of about ₹2.7B (latest available figure, as of Aug 18, 2026).
What is the net profit margin of 532633?
The net profit margin of Allsec Technologies Limited is about 11.6%, meaning it keeps roughly 11.6% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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