Investor presentationMay 2026
May 2026 · PPT
Source: Nse
Anlon Technology Solutions Ltd. (ANLON)
SME CapIT stocks · SME cap · NSE
Anlon Technology Solutions is an engineering services provider and manufacturer of infrastructure maintenance and life-saving equipment. It serves aviation, urban infrastructure, and petrochemical facilities, offering products like firefighting vehicles and runway maintenance machines, often through partnerships with global OEMs and its 'Make-in-India' initiative.
₹700
-40.00 · -5.41%
Market cap ₹526 Cr
Data qualityFresh enough for analysisQuote updated 19 Oct, 05:56 pm ISTDetails
Quote19 Oct, 05:56 pm IST
Base fundamentals20 Oct 2026 · screener
Latest result01 Jun, 07:50 pm IST
Score20 Oct, 05:22 pm IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · IT P/E 21.4 (n=204)
Technical timing lens
Trend score and candlestick chart
77BullishSMA20 +16.2% / mo · MACD − · sector +14.5pp vs Nifty 500 (3M)
Stock trend: 61
Sector RS: 100
Sector 3M: +8.9% vs Nifty 500 -5.6%
IT FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
ANLOND candles · FIT view+72.0%Latest close ₹700.00 on 2026-10-19
Bar
-5.4%
RSI
42
MACD hist
-11.97
52W pos
70%
2026-10-19O ₹740.00H ₹740.00L ₹676.00C ₹700.00Vol 26,400 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
ANLONNifty ITNifty 500
- ANLON
- +4.8%
- Nifty 500
- -5.6%
- Nifty IT
- +8.1%
- Vs Nifty 500
- +10.4 pp
Chart stats
19 Oct 2026- From 52W high
- -18.4%
- 52W range position
- 70%
- ATR (14)
- 4.9%
- Volume vs 20D
- 2.44x
- Avg traded value
- ₹0.9 Cr
- 20D price channel
- ₹676 - ₹858.1
₹858.1
₹335 - ₹858.1
₹34
Latest completed session
20-session average
67.2% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Weak U-Score but strong trend: momentum may be ahead of fundamentals.
Suggested next step
Momentum only
Trend is strong but fundamentals do not support a clean investment thesis.
U-Score
Legacy · FAIR VALUE53
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent100
Revenue +282.4% · PAT +300.0% YoY
Technical
Bullish77
Price trend and sector-relative-strength timing.
Valuation
Legacy model+1.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence73
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 31 Mar 2026
Excellent · 100/100Rev +282% YoY · PAT +300% YoY · margin expansion · +59% QoQ · operating leverage
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹65 Cr | +282.4% | +58.5% |
| EBITDA | ₹13 Cr | NDF | +85.7% |
| Operating margin | 20.0% | NDF | +200 bps |
| PAT | ₹8 Cr | +300.0% | +60.0% |
| PAT margin | 12.3% | NDF | +11 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 37.90
- P/B
- 6.03
- EV/EBITDA
- 24.45
- Market Cap
- 526.00Cr
Profitability
- ROE
- 21.10%
- ROCE
- 27.10%
- ROA
- 12.84%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 49.00%
- EPS 5Y
- 80.00%
- Revenue 3Y
- 48.00%
- EPS 3Y
- 46.00%
Balance Sheet
- Debt/Equity
- 0.17
- Interest Coverage
- 10.50×
- Altman Z
- 8.69
- Book Value
- 116.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 1/5
- OCF
- 8.00 Cr
- EPS TTM
- 22.19
Shareholding
- Promoter Hold
- 51.69%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 70%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 106+112.0% vs prev
Net Profit
₹ CrLatest: 14.0+133.3% vs prev
Return on Equity
%Latest: 19.4+91.2% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 42. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~13.9% over last month) — short-term momentum positive.
- RSI(14) at 42 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 18% off 52W high · 109% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
92
RS percentile
Stage 2 UptrendEstablished S2
1M return
-5.7%
3M return
+4.8%
6M return
+76.5%
1Y return
+72.1%
RS 1D
-2
RS 20D
+1
Sector rank
#8
Industry rank
#39
Stage evidence
- Price is 14.9% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +9.8%.
- Both 3-month and 6-month returns are positive.
50-DMA
price below
200-DMA
price above
S2 entered
11 May 2026
S2 age
114 trading sessions
Sector
improving
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
257 observations
19 Oct 2026Value 159.59-4.42%
RS vs Nifty 500160
Valuation & peers
U-Score 53 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 53 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Premium Compounder
Fundamental score breakdown
U band · FAIR VALUEValuation2/30
Growth22/25
Quality15/20
Balance Sheet8/15
Cash Flow1/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
53
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
53/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Growth contributes 22/25 to the score.
- Quality contributes 15/20 to the score.
Main drags
- Valuation is weaker at 2/30; verify the latest quarterly trend.
- Cash flow is weaker at 1/10; verify the latest quarterly trend.
- Balance sheet is weaker at 8/15; verify the latest quarterly trend.
Sector valuation model
IT valuation: PE and EV/EBITDA against growth and margins
Asset-light IT companies deserve valuation support only when growth, margins, and cash conversion hold up.
Primary lens
PE and EV/EBITDA relative to revenue growth, margins, and cash conversion.
Secondary checks
Deal pipeline, attrition, dollar revenue growth, FCF yield.
Main risk check
Low PE can reflect weak growth or margin pressure.
PE
37.9
PB
6.0
EV/EBITDA
24.4
ROE
21.1%
ROCE
27.1%
FCF Yield
—
Debt/Equity
0.2
MoS
+1.7%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
53
Previous: 53
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+1.7%
Previous: +1.7%
Score history
12 stored score snapshots. Latest stored move: +1 points.
20 Oct 2026
v4.3-runtime-valuation
51
50
50
50
50
50
50
50
50
50
52
53
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹240.66
-190.9% MoS
Growth-justified P/E
32.1
Growth-justified Value
₹712.3
+1.7% MoS
PEG
0.57
Comparable companies
Peers
Business-comparable peers in IT — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
MINDTECK
Small
Mindteck (India) Limited
IT Services / Digital
match 153
55
14.6
12.1%
+54%
FAIR VALUE
EXPLEOSOL
Small
Expleo Solutions Limited
IT Services / Digital
match 136
87
9.1
18.7%
+69%
DEEP VALUE
OPTIVALUE
SME
Optivalue Tek Consulting Ltd.
IT Services / Digital
match 131
49
37.2
22.2%
-16%
FAIR VALUE
TECHD
SME
TechD Cybersecurity Ltd.
IT Services / Digital
match 130
56
29.4
29.9%
+16%
FAIR VALUE
ARHAM
SME
Arham Technologies Ltd.
IT Services / Digital
match 129
40
36.9
18.8%
-12%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-20T03:24:12.581Z
Management commentary snapshot
ANLON reports robust FY26 performance with revenue up 111% YoY to INR 105.9 Cr and PAT up 114% YoY to INR 13.9 Cr, driven by 'Make-in-India' strategy and strategic OEM partnerships. Order book stands at INR 110.15 Cr as of March 31, 2026.
The company demonstrated strong financial growth in FY26, supported by successful execution of specialized projects and strategic 'Make-in-India' initiatives. New manufacturing partnerships and certifications position it for continued growth in high-entry-barrier segments, with a healthy order book providing near-term visibility.
Current business mix
Revenue by Business Segment (FY26)
Latest issuer-disclosed distribution across 3 reported categories.
Manufacturing & Assembly50.0%
AMC & Services27.0%
Distribution Business23.0%
Growth engines
Product Introducer for Indian Airport Industry
Company introduces essential public safety vehicles, previously not imported due to high costs, leveraging a ~30% cost advantage for 'Make-in-India' equipment.
Entering High-Utilization Growth Phase
With capex, vehicle testing, safety certifications, and regulatory approvals completed, the company is positioned for large-scale orders and scalable volume production.
Make-in-India Strategy
Transition to indigenous manufacturing drives ~30% lower costs vs. imported equipment, improves competitiveness, and enables India-specific product optimization.
Strategic Global Partnerships
Exclusive/authorized tie-ups with global OEMs like Rosenbauer and Bucher Municipal provide access to technology and high-value projects, extending reach beyond India.
Capacity and execution
EN14043 Conformity Certificate
Received EN14043 Conformity Certificate from TUV-SUD, Germany, for continuous manufacture of Turntable Ladder with Rescue Lift, a first for any Indian company.
New Manufacturing Agreements
Strategic decision with ROSENBAUER International A.G. to manufacture fire engines from Anlon's Bangalore facility and with BUCHER Municipal to manufacture Sewage Cleaner machines in India.
Utilization Ramp-up
Company is entering a high-utilization growth phase as vehicle deployments scale up, leading to growing recurring revenue from AMC and spares.
Tailwinds
Cost Advantage from Make-in-India
Indigenous manufacturing offers approximately 30% lower cost compared to imported equipment, enhancing competitiveness in tenders.
Recurring Revenue Growth
As vehicle deployments scale up, recurring revenue from AMC and spares is set to grow, improving working capital efficiency and margins.
High Entry Barriers
The niche segment requires technical expertise and certifications, limiting qualified players and strengthening the company's market position.
Risk radar
Fluctuations in Earnings
Future business prospects and profitability are subject to risks and uncertainties, including fluctuations in earnings.
Competition
The company faces competition from both domestic and international players.
Time and Cost Overruns on Contracts
Risks include potential time and cost overruns on contracts, which could impact profitability.
Government Policies and Regulations
Changes in government policies, actions, and regulations, as well as interest and other fiscal costs, could affect operations.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The company's business involves project execution and manufacturing, which are best assessed over annual periods to account for project cycles and strategic initiatives. Both H2 and full-year results are presented on a year-over-year basis, highlighting significant growth trends.
Sector KPIs management disclosed
Revenue (FY26)
Revenues increased to INR 10,591.69 Lakhs in FY26 from INR 5,023.30 Lakhs in FY25, a 111% YoY growth.
EBITDA (FY26)
EBITDA grew to INR 2,075.57 Lakhs in FY26 from INR 981.94 Lakhs in FY25, a 111% YoY increase.
PAT (FY26)
PAT rose to INR 1,387.53 Lakhs in FY26 from INR 649.01 Lakhs in FY25, reflecting a 114% YoY growth.
Order Book (as of March 31, 2026)
Total order book of approximately INR 110.15 Cr as of March 31, 2026, diversified across manufacturing, trading, and services.
Management forward view
Strongest Year in Company History
FY26 was the strongest year in the Company’s history, both in terms of deliveries and strategic, future-oriented initiatives.
Positioned for Sustained Profitable Growth
With INR 110.15 crore orders in hand as of March 31, 2026, along with forthcoming orders, the company is positioned for sustained profitable growth.
Focus on Indigenous Manufacturing
The period reflected the first meaningful commercial outcome of the Company’s Make-in-India strategy, driving growth and capability.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Order Book Growth | ~INR 110.15 Cr as of March 31, 2026 | Sustained growth in order book, particularly from manufacturing and AMC segments, indicating continued demand and execution capability. |
| Recurring Revenue Contribution | AMC & Services at 27% of FY26 revenue | Increase in the share of recurring revenue from AMC and spare parts, signaling improved working capital efficiency and margin stability. |
| New Product/Partnership Execution | Manufacturing agreements with Rosenbauer and Bucher Municipal | Successful ramp-up of manufacturing for new product lines and expansion of reach beyond India, validating strategic partnerships. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
73Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 72nd percentile of the scored universe and 71st percentile within IT. Main check: cash conversion is weak at 43/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
8 docs text-extracted · 7 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
72nd percentile
overall median 67 · IT: 71st pctile, median 69 · SME: 90th pctile, median 64
Evidence depth
Financial-only
8 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
60
acceptable · holding, pledge, alignment
Cash flow
43
weak · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
98
strong · capital discipline
Results
87
strong · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸ROCE is 27.1%.
- ▸4/4 latest quarters had positive YoY revenue growth.
- ▸4/4 latest quarters had positive YoY PAT growth.
Trust risks
- ▸Promoter holding fell 10.4%.
- ▸Only 1 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Anlon Technology Solutions Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Concall transcriptMay 2026
May 2026 · Transcript
Source: Company Ir
Concall transcriptMay 2026
May 2026 · Analysts/Institutional Investor Meet/Con. Call Updates 30 May 2026 - Anlon submitted transcript of May 28, 2026 analyst meet on H1 and FY2026 results.
Source: Nse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
Concall transcriptNov 2025
Nov 2025 · Transcript
Source: Company Ir
Investor presentationNov 2025
Nov 2025 · PPT
Source: Nse
Concall transcriptMay 2025
May 2025 · Transcript
Source: Company Ir
Investor presentationMay 2025
May 2025 · PPT
Source: Nse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Nse
Concall transcriptNov 2024
Nov 2024 · Transcript
Source: Nse
Investor presentationNov 2024
Nov 2024 · PPT
Source: Nse
Concall transcriptNov 2024
Nov 2024 · Transcript
Source: Company Ir
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.