This small-cap AI technology provider received an award of contract to expand in the African region; do not miss this!

It is a small-cap stock with market capitalization of Rs 474 crore, currently trading at Rs 235.

Alletec, a leading IT solutions provider, has achieved a significant milestone in its African expansion by securing a contract to build a Business Intelligence and Analytics System (BI&A) for Zambia Electronic Clearing House Ltd. This marks the company's first major project in the data engineering space within the African region, solidifying its growing influence and success in the market.

The project win signifies a pivotal moment for Alletec, as it represents a strategic entry into the African data engineering landscape. By collaborating with local partners, the company has demonstrated its commitment to understanding and catering to the specific needs of the region. This collaborative approach is expected to pave the way for further success in the African market.

As per the Company filing, Alletec said,

“We are happy to inform our shareholders that Alletec has been awarded contract to build a Business Intelligence and Analytics System for the Zambia Electronic Clearing House Ltd. Alletec will be using the Microsoft stack of Data & AI solutions for building these systems.”

Alletec Director View

 Ms. Ritu Sood – Executive Director at Alletec said “Data Engineering and AI are making increasing impact on the present age businesses – getting them ready for the new age. We view this as a significant milestone – not just in our company expansion and influence across Africa, but also in the domain of Data & AI. This will open new doors for Alletec.”

It is a Small-Cap stock with market capitalization of Rs 474 crore, currently trading at Rs 235. In a refreshing turn of events, the company has shed its debt burden and emerged as a lean, nearly debt-free entity. This financial feat, coupled with strong expectations for a stellar upcoming quarter, paints a promising picture for the future. To top it off, the company boasts a remarkable track record of generous dividend payouts, historically distributing a whopping 95.0 per cent of its profits to shareholders.

About Company

All e Technologies Limited (Alletec) - a company listed at the National Stock Exchange of India - has a track record of over 2 decades in delivering hundreds of Digital Transformation projects to customers from over 30 countries. The company is a leading Microsoft Business Applications partner and has been a recurring member of Microsoft Business Applications Inner Circle.

Disclaimer: The article is for informational purposes only and not investment advice.