---
title: "Ajel Ltd (530713) — Share Price, Financials & Analysis"
symbol: "530713"
company: "Ajel Ltd"
canonical: "https://tapetide.com/stocks/530713"
isin: "INE229B01015"
bse_code: "530713"
sector: "Information Technology"
industry: "IT - Software"
generated_at: "2026-10-13T11:00:16.989Z"
---

# Ajel Ltd (530713)

Canonical page: https://tapetide.com/stocks/530713

## Company

- **BSE Code:** 530713
- **ISIN:** INE229B01015
- **Sector:** Information Technology
- **Industry:** IT - Software
- **Macro Sector:** Information Technology
- **Stock Type:** EQUITY
- **Listed Since:** 2006-03-07
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** ajel.in

## About

Incorporated in 1994, Ajel Ltd provides IT Consulting and Software Development Services and Financial Services[1]

## Latest Price

- **Price:** ₹6.29
- **Change:** -0.31 (-4.7%)
- **Open:** ₹6.27
- **Day High:** ₹6.93
- **Day Low:** ₹6.27
- **Previous Close:** ₹6.6
- **Volume:** 7285
- **As Of:** 2025-07-02T03:05:13+00:00

## Key Insights

### Strengths

- Stock is trading at 0.54 times its book value

### Weaknesses

- Company has low interest coverage ratio.
- Company has a low return on equity of -9.56% over last 3 years.
- Company might be capitalizing the interest cost
- Company has high debtors of 416 days.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 70% | — | -10% |
| revenue growth | 1% | 19% | 32% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 3.46 | 3.52 | 3.52 | 2.96 | 2.92 | 2.96 | 4.81 | 3.26 | 3.28 | 3.44 | 3.69 | 3.66 |
| Expenses | 4.17 | 4.16 | 4.16 | 3.35 | 3.23 | 3.16 | 5.45 | 3.31 | 3.29 | 3.64 | 4.05 | 3.61 |
| Operating Profit | -0.71 | -0.64 | -0.64 | -0.39 | -0.31 | -0.2 | -0.64 | -0.05 | -0.01 | -0.2 | -0.36 | 0.05 |
| OPM % | -20.52 | -18.18 | -18.18 | -13.18 | -10.62 | -6.76 | -13.31 | -1.53 | -0.3 | -5.81 | -9.76 | 1.37 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0.23 | 0 | 0 | 0 | 0.33 | 0 |
| Interest | 0.01 | 0.15 | 0.15 | 0.17 | 0.19 | -0.2 | 0.02 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0.18 | 0 | 0 | 0 | 0.17 | 0 |
| Profit before tax | -0.72 | -0.79 | -0.79 | -0.56 | -0.5 | 0 | -0.61 | -0.05 | -0.01 | -0.2 | -0.2 | 0.05 |
| Tax % | 0 | 0 | 0 | 0 | 0 | — | -1.64 | 0 | 0 | 0 | -10 | 0 |
| Net Profit | -0.72 | -0.79 | -0.79 | -0.56 | -0.5 | 0 | -0.6 | -0.05 | -0.01 | -0.2 | -0.18 | 0.05 |
| EPS in Rs | -0.62 | -0.68 | -0.68 | -0.48 | -0.43 | 0 | -0.52 | -0.04 | -0.01 | -0.17 | -0.15 | 0.04 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 6.71 | 5.46 | 4.25 | 3.47 | 4.15 | 8.14 | 13.63 | 13.64 | 13.67 | 14.07 |
| Expenses | 6.79 | 6.09 | 4.57 | 3.67 | 4.1 | 8.17 | 15.02 | 15.15 | 14.25 | 14.59 |
| Operating Profit | -0.08 | -0.63 | -0.32 | -0.2 | 0.05 | -0.03 | -1.39 | -1.51 | -0.58 | -0.52 |
| OPM % | -1.19 | -11.54 | -7.53 | -5.76 | 1.2 | -0.37 | -10.2 | -11.07 | -4.24 | -3.7 |
| Other Income | 0 | 2.93 | 0 | -0.12 | 0.16 | 0.94 | 0.19 | 0.23 | 0.33 | 0.33 |
| Interest | 0.04 | 0.04 | 0.04 | 0.02 | 0.03 | 0.08 | 0.2 | 0.21 | 0.19 | 0 |
| Depreciation | 0.83 | 0.9 | 0.11 | 0.1 | 0.1 | 0.04 | 0.37 | 0.18 | 0.02 | 0.17 |
| Profit before tax | -0.95 | 1.36 | -0.47 | -0.44 | 0.08 | 0.79 | -1.77 | -1.67 | -0.46 | -0.36 |
| Tax % | 0 | 30.15 | -2.13 | -4.55 | -25 | -2.53 | 1.69 | -0.6 | -4.35 | — |
| Net Profit | -0.95 | 0.95 | -0.46 | -0.43 | 0.09 | 0.81 | -1.8 | -1.66 | -0.44 | -0.34 |
| EPS in Rs | -0.82 | 0.82 | -0.39 | -0.37 | 0.08 | 0.7 | -1.55 | -1.42 | -0.38 | -0.29 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 11.65 | 11.65 | 11.65 | 11.65 | 11.65 | 11.65 | 11.65 | 11.65 | 11.65 | 11.65 |
| Reserves | 6.01 | 5.06 | 1.52 | 1.75 | 1.66 | 2.19 | 3.19 | 2.49 | 1.14 | 1.84 |
| Borrowings | 5.67 | 5.06 | 4.7 | 4.99 | 5.12 | 5.47 | 6.04 | 10.35 | 11.16 | 12.39 |
| Other Liabilities | 3.38 | 4.33 | 3.9 | 4.05 | 4.04 | 3.91 | 4.26 | 4.02 | 4.54 | 4.83 |
| Total Liabilities | 26.71 | 26.1 | 21.77 | 22.44 | 22.47 | 23.22 | 25.14 | 28.51 | 28.49 | 30.71 |
| Fixed Assets | 2.7 | 1.91 | 3.16 | 3.05 | 2.95 | 2.85 | 2.8 | 3.58 | 3.39 | 3.23 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.09 | 1.09 | 1.09 |
| Investments | 7.15 | 7.15 | 0.57 | 0.47 | 0.81 | 1.24 | 1.01 | 1.05 | 1.05 | 0.91 |
| Other Assets | 16.86 | 17.04 | 18.04 | 18.92 | 18.71 | 19.13 | 21.33 | 22.79 | 22.96 | 25.48 |
| Total Assets | 26.71 | 26.1 | 21.77 | 22.44 | 22.47 | 23.22 | 25.14 | 28.51 | 28.49 | 30.71 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -0.17 | 0 | 0 | 0.05 | -0.54 | -0.3 | -0.91 | -0.83 | -0.97 | -1.2 |
| Cash from Investing Activity | 0.08 | 0 | 0 | 0 | 0 | 0 | 0.41 | -3.14 | 0 | -0.01 |
| Cash from Financing Activity | -0.33 | 0 | 0 | 0.23 | 0.13 | 0.36 | 0.57 | 3.9 | 0.81 | 1.24 |
| Net Cash Flow | -0.42 | 0 | 0 | 0.28 | -0.41 | 0.05 | 0.07 | -0.07 | -0.16 | 0.02 |
| Free Cash Flow | -0.09 | 0 | 0 | 0.05 | -0.54 | -0.3 | -0.92 | -2.45 | -0.97 | -1.21 |
| CFO/OP | -155 | 0 | 0 | -16 | 330 | -280 | 6200 | 60 | 64 | 207 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 0 | 74.52 | 237.32 | 390.76 | 493.33 | 427.45 | 574.4 | 356.7 | 363.13 | 415.73 |
| Cash Conversion Cycle | 0 | 74.52 | 237.32 | 390.76 | 493.33 | 427.45 | 574.4 | 356.7 | 363.13 | 415.73 |
| Working Capital Days | -120.53 | 78.33 | 292.8 | 445.73 | 560.65 | 496.93 | 614.76 | 310.64 | 322.72 | 379.69 |
| ROCE % | -3.17 | -4.04 | -5.95 | -2.37 | -1.63 | -0.26 | -0.35 | -7.05 | -6.03 | -1.08 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 49.11% | 49.14% | 49.42% | 49.44% | 49.44% | 49.44% | 49.87% | 50.05% | 50.05% | 50.05% | 50.05% |
| Public | 50.89% | 50.86% | 50.58% | 50.56% | 50.56% | 50.56% | 50.13% | 49.96% | 49.95% | 49.94% | 49.95% |
| No. of Shareholders | 2221 | 2212 | 2230 | 2246 | 2250 | 3491 | 3662 | 3721 | 4451 | 4407 | 4405 |

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 50.04% | 50.05% | 50.05% | 50.05% | 50.05% | 50.05% | 50.05% | 50.05% | 50.05% | 50.05% | 50.05% | 50.05% |
| Public | 49.95% | 49.94% | 49.96% | 49.96% | 49.95% | 49.95% | 49.95% | 49.94% | 49.95% | 49.94% | 49.94% | 49.95% |
| No. of Shareholders | 3775 | 3665 | 3721 | 3737 | 3876 | 4410 | 4451 | 4413 | 4451 | 4408 | 4407 | 4405 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 3 / 4 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 161.79 | Sell |
| EMA (10) | 160.34 | Sell |
| SMA (20) | 166.63 | Sell |
| EMA (20) | 162.76 | Sell |
| SMA (50) | 162.85 | Sell |
| EMA (50) | 164.54 | Sell |
| SMA (100) | 168.58 | Sell |
| EMA (100) | 167.43 | Sell |
| SMA (200) | 175.23 | Sell |
| EMA (200) | 160.9 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 38.28 | Neutral |
| MACD (12,26,9) | -2.09 | Sell |
| Stochastic (14,3,3) | 17.11 | Buy |
| ADX (14) | 21.71 | Neutral |
| Williams %R (14) | -84.82 | Buy |
| ATR (14) | 6.85 | High Volatility |
| ROC (12) | -10.4 | Sell |
| Stoch RSI (14) | 3.48 | Buy |
| UO (7,14,28) | 38.83 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-04-30 | [Certificate As per Regulation 40(9) Of SEBI (LODR) Regulations, 2015](https://www.bseindia.com/xml-data/corpfiling/AttachHis/24ce2b2c-f60f-423d-a750-841719af1572.pdf) |
| 2026-04-30 | [Certificate As per Regulation 40(9) Of SEBI (LODR) Regulations, 2015](https://www.bseindia.com/xml-data/corpfiling/AttachLive/24ce2b2c-f60f-423d-a750-841719af1572.pdf) |
| 2026-04-28 | [Appointment of Company Secretary and Compliance Officer](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fe98c8e3-8115-4232-b6c4-b119e8cb74f3.pdf) |
| 2026-04-28 | [Appointment of Company Secretary and Compliance Officer](https://www.bseindia.com/xml-data/corpfiling/AttachLive/fe98c8e3-8115-4232-b6c4-b119e8cb74f3.pdf) |
| 2026-04-24 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9e387d75-eec0-4321-b649-5793f8a62e7d.pdf) |
| 2026-04-24 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018](https://www.bseindia.com/xml-data/corpfiling/AttachLive/9e387d75-eec0-4321-b649-5793f8a62e7d.pdf) |
| 2026-04-23 | [Compliance Certificate (RTA & Compliance Officer) Under Reg. 7 (3) Of SEBI (LODR) Regulations, 2015 For The Period Ending 31St March 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/98f40d40-e8c5-491f-b58d-5f452b4d5eff.pdf) |
| 2026-03-27 | [Closure of Trading Window](https://www.bseindia.com/xml-data/corpfiling/AttachHis/96463262-7c16-49bf-9afd-e7c3ab21a8d2.pdf) |
| 2026-03-27 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3afdb26a-32f5-4b85-a2cd-d716077ef3ae.pdf) |
| 2026-02-21 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/xml-data/corpfiling/AttachHis/740f3863-31b1-4bcd-a6e6-5bf983a3b5cc.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2025 | [Financial Year 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/689b7cd4-8810-4d98-bcb9-6c9d559e98f6.pdf) |
| 2024 | [Financial Year 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/214e40a3-0d31-48b4-9038-a985e57c9e9c.pdf) |
| 2024 | [Annual Report 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4be75019-4fdd-443c-8d38-d3a1548ee0fb.pdf) |
| 2023 | [Financial Year 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0b92b370-6f9d-47c4-918b-bfc5249f4b85.pdf) |
| 2023 | [Annual Report 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/de4504c5-1872-4813-8c5c-a45821beb821.pdf) |
| 2022 | [Financial Year 2022](https://www.bseindia.com/bseplus/AnnualReport/500690/75370500690.pdf) |
| 2022 | [Annual Report 2022](https://www.bseindia.com/bseplus/AnnualReport/530713/75251530713.pdf) |
| 2021 | [Financial Year 2021](https://www.bseindia.com/bseplus/AnnualReport/500690/70557500690.pdf) |
| 2021 | [Annual Report 2021](https://www.bseindia.com/bseplus/AnnualReport/530713/71693530713.pdf) |
| 2020 | [Financial Year 2020](https://www.bseindia.com/bseplus/AnnualReport/500690/66198500690.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Feb 2026 | [Concall - Feb 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7ac0fd7b-aa02-401e-8bca-298c33d170b0.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/20d1002c-d117-4137-81a4-b1e22c4be9bb.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0434e160-e67e-48d5-8210-5a2f83055326.pdf) |
| Aug 2025 | [Concall - Aug 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6517b446-405c-4204-a2a2-0eea61d87aca.pdf) |
| Jun 2025 | [Concall - Jun 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/141c85e7-acae-436e-9e6d-b4b4b2a89c12.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8167e6cf-d214-49aa-b106-7c5d1dcd802f.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1df5cf0e-8944-4dca-a4b7-0acbc0376cf4.pdf) |
| Feb 2025 | [Concall - Feb 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/796d9c43-9bc2-48a6-8dc4-259279731b3b.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/02c5cf57-bb87-4c5c-b550-b6500f014270.pdf) |
| Aug 2024 | [Concall - Aug 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d3c45c9c-fc4a-46aa-9101-32e085e86246.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2025-10-03 | Credit rating update — CARE Ratings |
| 2024-10-07 | Credit rating update — CARE Ratings |
| 2023-10-09 | Credit rating update — CARE Ratings |
| 2022-12-20 | Credit rating update — CARE Ratings |
| 2022-09-27 | Credit rating update — CARE Ratings |
| 2021-09-28 | Credit rating update — CARE Ratings |

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-10-10 | [Board Meeting Outcome for Outcome Of Board Meeting - Auditor Resignation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=29a73670-f015-4880-a693-a8bd217d5c53.pdf) |
| 2026-10-10 | [Announcement under Regulation 30 (LODR)-Resignation of Statutory Auditors](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=95c6c7dd-d831-4689-81d8-9ba1b329d334.pdf) |
| 2026-10-05 | [Announcement under Regulation 30 (LODR)-Acquisition](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=59be1d59-9bef-458d-b756-4f223dac1421.pdf) |
| 2026-10-01 | [Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=90a10957-1c76-4e92-8751-4b50b6a83486.pdf) |
| 2026-10-01 | [Shareholder Meeting / Postal Ballot-Scrutinizers Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3d546d4f-c947-4e54-a15e-46e14343cd79.pdf) |
| 2026-09-30 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=87bab8d5-d188-4534-a90b-96e5b9618ec5.pdf) |
| 2026-09-24 | [Board Meeting Outcome for Outcome Of Board Meeting For Change In The Registered Office Of The Company Within The Local Limits Of The Same City Due To Redevelopment Of Existing Premises](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=871ca80b-d50b-4842-9bb9-afe8a9a2bd23.pdf) |
| 2026-09-24 | [Announcement under Regulation 30 (LODR)-Change in Registered Office Address](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=25a60f1f-689c-4034-ba85-3be59416c044.pdf) |
| 2026-09-22 | [Board Meeting Intimation for Change In The Registered Office Of The Company Within The Local Limits Of The Same City Due To Redevelopment Of Existing Premises](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f0828cb5-b6c1-4258-9525-8c027dd1548b.pdf) |
| 2026-09-08 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=93c9ad08-863d-44e6-8386-54633bd5f2a3.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T11:00:16.989Z.