1. At a Glance – Blink and You’ll Miss the Irony
Addictive Learning Technology Ltd is that rare NSE SME stock which teaches you how to get high-paying international jobs while its own stock price quietly enrolls itself in a “How to Destroy Shareholder Wealth 101” course. Incorporated in 2017, listed in January 2024 at much loftier expectations, ALTL today sits at a market cap of about ₹173 crore, a current price of ₹109, and a glorious one-year return of -68.7%. Yes, negative. That’s not a typo; that’s market sentiment doing yoga.
The company clocked ₹41.4 crore in sales and ₹4.82 crore PAT in the latest half-year ended Sep 2025, with operating margins brushing 28%, which would make many edtech founders cry tears of envy. ROCE stands at 25.1%, debt is literally zero, and yet the stock trades like it forgot to submit homework. Promoters still hold 65.07%, institutions are timidly exiting, and the public is slowly increasing exposure—probably after watching too many motivational webinars.
This is a company where fundamentals say “disciplined adult” but the price chart screams “rebellious teenager.” Curious already? Good. That’s exactly how LawSikho gets you too.
2. Introduction – When Edtech Meets Equity Trauma
Addictive Learning Technology Ltd is not your average “recorded lectures + discount coupon” edtech. It positions itself as a career transformation platform for lawyers, accountants, consultants, and professionals who are already tired of LinkedIn gurus shouting “AI will replace you” every morning.
The company runs brands like LawSikho, Skill Arbitrage, and Dataisgood, and unlike many flashy consumer edtech firms, ALTL focuses on mid-career professionals and international employability. Think less schoolkids, more overworked associates dreaming of dollar salaries.
But here’s where the fun begins. The business is growing, margins are expanding, cash is being generated, and yet the stock has collapsed from a high of ₹391 to near its 52-week low. Why? Because markets don’t just price numbers; they price trust, execution fear, SME liquidity, corporate drama, and sometimes… vibes.
This article dissects ALTL like a sarcastic auditor with a sense of humour and a calculator. Numbers first. Drama later. Verdict at the end. Ready?
3. Business Model – WTF Do They Even Do?
ALTL is essentially a skills arbitrage machine. It identifies gaps between Indian professional talent and international demand,
then sells structured courses to bridge that gap.
LawSikho
This is the crown jewel. LawSikho trains lawyers and law graduates in practical and international law domains—US IP law, contract drafting, corporate compliance, tax law, and even bar exam prep for Canada, the UK, and California. Instead of mugging up bare acts, students learn how to actually earn.
Skill Arbitrage
This brand targets finance professionals, HR folks, consultants, content writers, video editors, and AI-curious souls. The idea is simple: teach skills that global employers will pay for.
Dataisgood
Originally a separate brand for data science and analytics, it has now been integrated into Skill Arbitrage, which tells you management prefers fewer brands and more monetization.
ALTL also runs LawSikho Opportunities, a job platform with over 100,000 monthly users, currently unmonetized—basically LinkedIn but with less humblebragging.
Add international expansion plans, franchise exploration, and even nursing exam prep (NCLEX + IELTS), and you get a company that’s trying to build a global education ecosystem rather than just selling PDFs.
Does it sound ambitious? Yes. Does it sound messy? Also yes. Welcome to edtech.
4. Financials Overview – Numbers Don’t Lie, Markets Do
Result Type Lock
The latest reported results are clearly marked Half Yearly Results. So EPS annualisation rule is locked: Half-Yearly EPS × 2. No cheating later.
Financial Comparison Table (₹ in Crores)
| Metric | Latest Half (Sep 2025) | Same Half LY (Sep 2024) | Previous Half (Mar 2025) | YoY % | QoQ % |
|---|---|---|---|---|---|
| Revenue | 41.41 | 40.88 | 33.98 | 1.30% | 21.86% |
| EBITDA | 11.58 | 9.43 | 8.04 | 22.80% | 44.03% |
| PAT | 4.82 | 5.86 | 3.90 | -17.75% | 23.59% |
| EPS (₹) | 3.03 | 3.68 | 2.45 | -17.7% | 23.7% |
Annualised EPS (Half-Yearly): ₹3.03 × 2 = ₹6.06
At a current price of ₹109, recalculated P/E
