Micro-cap stock engaged in the business of providing IT Solutions and many more hit 20 percent upper circuit upon being selected as the Master System Integrator for surveillance in the Ayodya Smart City.
The shares of Allied Digital Services Limited hit a 20 percent upper circuit in the day’s trade at Rs. 170.70 and it has a market capitalization of Rs. 944 Crores.
Allied Digital Services Limited has been selected as the Master System Integrator (MSI) for the Integration of CCTV Surveillance with the Existing ITMS Control Room for the Ayodhya Smart City Project. This project entails the establishment of a multi-location CCTV surveillance system.
The primary goals include enhancing safety and security, optimizing city administration efficiency, and promoting an improved quality of life for residents even as Ayodhya City is undergoing unprecedented transformation.
The capital expenditure (CAPEX) and implementation phase are anticipated to last three months, followed by a five-year operational and maintenance (O&M) phase. The Video Management System (VMS) will play a key role in handling live feeds, while recorded footage will be securely stored on local storage.
Allied Digital Services Limited is an IT Consulting company engaged in providing services of designing, developing, deploying digital solutions, and delivering end-to-end IT infrastructure services, Enterprise applications, and Integrated solutions.
The company’s revenue from operations grew 36.19 percent from Rs. 484.68 Crores in FY22 to Rs. 660.07 Crores in FY23, accompanied by profits of Rs. 50.49 Crores to Rs. 6.92 Crores.
It has reported a return on equity (ROE) of 10.24 percent and a return on capital employed (ROCE) of 13.45 percent, it is making decent returns on its equity and capital employed.
Written by: Bharath K.S
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