Dev Information Technology Limited (DEVIT)

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Dev Information Technology Limited (DEVIT) · mywealthgrid

About

Dev Information Technology provides IT-enabled services within the IT services sector. Quarterly consolidated revenue ranges from ₹36–54 Cr in recent periods, with Mar 2026 reaching ₹53.87 Cr. The company shows strong capital efficiency (ROE 85.17%, D/E 0.27) but significant operational volatility, with net profit swinging from losses of ₹7.42 Cr (Dec 2025) to gains of ₹71.88 Cr (Sep 2025).

Face value: ₹2

Market cap

₹117 Cr

P/E

1.5×

P/B

1.1×

Dividend yield

0.5%

ROE

85.2%

ROCE

3.8%

Debt / equity

0.27

OPM

1.7%

EPS (TTM)

₹13.4

Book value

₹19.4

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Net profit and operating margins show extreme volatility: OPM fell to -15.88% (Dec 2025) before recovering to 7.84% (Jun 2026), suggesting cyclicality or execution risk
Current overall OPM of 1.7% lags the 6–7% range achieved in Mar–Jun 2026, indicating operational challenges persist despite recent recovery
Minimal institutional participation (FII 0.33%, DII 0%) — verify if this reflects weak fundamentals, governance concerns, or undervaluation
Stock returned -40.49% over 1 year despite recent margin recovery, signaling investor skepticism on earnings sustainability

Generated analysis · source review pending

Growth drivers

Operating margin recovered from -15.88% (Dec 2025) to 7.84% (Jun 2026); verify whether improvements in cost, client mix, or pricing are durable or cyclical
Consolidated quarterly revenue peaked at ₹53.87 Cr (Mar 2026) — verify if new clients, contract expansion, or vertical diversification can sustain this level
ROE of 85.17% reflects capital-efficient operations, though verify if this indicates low-capex service delivery or is inflated by equity compression from recent losses
D/E of 0.27 provides balance-sheet capacity — verify management's plans for capex, M&A, or geographic/vertical investment to drive growth

Generated analysis · source review pending

1,879 historical price candles were omitted because the exchange source has not been verified.

₹20.8-3.9%1Y

Quick read

rule-based

Pros

+Strong return on equity of 42.8% (3-yr avg)
+Profit CAGR of 103.7% over the last 3 years
+Revenue CAGR of 17.5% over the last 5 years

Cons

−Thin operating margin of 1.7%
−Weak interest coverage of 1.4×
−Low dividend payout of 0.7% of profit
−Promoter holding fell 25.1 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

54/100

Business quality: 38
Growth: 48

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
L&T Technology Services LimitedLTTSLTTS	₹34,671 Cr	₹34,671 Cr	₹11,701 Cr	₹2,074 Cr	17.6%	₹1,320 Cr	11.7%	24.9%	20.4%	29
Inventurus Knowledge Solutions LimitedIKSIKS	₹30,483 Cr	₹31,124 Cr	₹3,347 Cr	₹1,149 Cr	34.2%	₹764 Cr	22.6%	33.8%	31.4%	39
Tata Technologies LimitedTATATECHTATATECH	₹28,378 Cr	₹29,044 Cr	₹5,926 Cr	₹920 Cr	15.5%	₹557 Cr	9.9%	19.3%	14.6%	33
Netweb Technologies India LimitedNETWEBNETWEB	₹25,721 Cr	—	₹724 Cr	₹103 Cr	14.2%	₹76 Cr	10.5%	—	—	—
Affle 3i LimitedAFFLEAFFLE	₹20,410 Cr	₹20,422 Cr	₹2,836 Cr	₹638 Cr	22.5%	₹478 Cr	16.8%	16.9%	13.8%	-51
Sagility LimitedSAGILITYSAGILITY	₹20,209 Cr	₹21,320 Cr	₹7,617 Cr	₹1,849 Cr	24.5%	₹993 Cr	12.9%	13.3%	10.3%	78
Esds Software Solution LimitedESDSESDS	₹16,809 Cr	—	₹208 Cr	₹47 Cr	22.9%	₹-22 Cr	-10.8%	0.8%	-10.9%	—
Black Box LimitedBBOXBBOX	₹14,134 Cr	₹14,961 Cr	₹6,654 Cr	₹614 Cr	9%	₹226 Cr	3.4%	21.7%	21.3%	-10
E2e Networks LimitedE2EE2E	₹13,323 Cr	₹13,482 Cr	₹366 Cr	₹234 Cr	51.4%	₹31 Cr	-6.3%	-0.5%	-1%	-45
Cyient LimitedCYIENTCYIENT	₹12,272 Cr	₹12,438 Cr	₹7,632 Cr	₹944 Cr	12.5%	₹378 Cr	6.4%	12.4%	7.8%	119
Amagi Media Labs LimitedAMAGIAMAGI	₹11,984 Cr	₹11,984 Cr	₹1,506 Cr	₹50 Cr	3.4%	₹72 Cr	4.8%	5.2%	4.1%	40
Emudhra LimitedEMUDHRAEMUDHRA	₹4,802 Cr	₹4,826 Cr	₹745 Cr	₹174 Cr	22.7%	₹115 Cr	15.7%	14.9%	13%	36

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	85	100	124	164	171	190
COGS	42	44	61	71	66	85
Gross profit	43	56	63	93	104	105
	40	52	57	79	94	102
	3	4	7	14	10	3
OPM %	3%	3.7%	5.6%	8.4%	6.1%	1.7%
Depreciation	2	2	1	1	3	3
Interest	1	1	1	1	3	3
	1	1	7	2	13	98
Profit before tax	0	2	11	12	18	95
Tax	0	2	2	3	3	19
Tax %	860%	103.6%	20.5%	24.2%	18.3%	20.2%
	-0	-0	9	9	15	76
PAT margin %	-0.5%	-0.1%	7.3%	5.8%	8.7%	39.9%
EPS (₹)	-0.3	-0.1	4.1	4.2	6.6	13.4
EPS adjusted (₹)	-0.1	-0	1.6	1.7	2.6	13.5
	—	—	6.1%	6%	5.3%	0.7%
Annual report	—	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	6	6	11	11	11	11	11
Reserves	28	27	22	30	44	57	98
Minority interest	0	0	—	0	3	0	—
	10	10	9	7	13	18	29
	15	19	24	19	24	35	50
Total equity & liabilities	58	62	66	68	95	122	189
	12	10	10	14	20	23	23
CWIP	0	0	1	1	—	—	—
Investments	5	4	3	3	11	4	48
	41	47	53	49	64	96	118
Total assets	58	62	66	68	95	122	189

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	50.6%	55.7%	51.1%	56.6%	61.2%	55.3%
EBITDA margin %	3%	4.8%	5.6%	8.4%	6.1%	1.7%
EBIT margin %	0.5%	3%	4.6%	7.6%	4.4%	-0%
PAT margin %	-0.5%	-0.1%	7.3%	5.8%	8.7%	39.9%
Working capital
Receivable days	94	114	103	114	159	175
Inventory days	75	39	30	0	40	28
Payable days	117	146	74	53	106	113
NWC days	53	6	59	62	94	90
Leverage
Current ratio	1.59	1.52	2.08	2.1	1.91	1.79
Debt to EBITDA	4.07	1.95	1.04	0.93	1.75	9.02
Debt to equity	0.32	0.29	0.17	0.23	0.27	0.27
Interest coverage	1	4.4	9.1	9.8	8	1.4
Asset turnover	1.36	1.5	1.83	1.71	1.4	1
Return ratios
Return on assets %	-0.6%	-0.1%	13.3%	9.9%	12.1%	40%
Return on capital employed %	3.9%	11.9%	31.8%	25.3%	29.1%	3.8%
Return on equity %	-1.2%	-0.2%	21.7%	17.1%	21.5%	69.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	67.48%	71.31%	70.2%	70.2%	68.73%	66.63%	66.63%	66.63%	66.63%	66.63%	41.58%	41.58%
	0%	0%	0%	0%	1.45%	1.49%	0.45%	0.33%	0.33%	0.33%	0.33%	0.33%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	32.52%	28.69%	29.8%	29.8%	29.82%	31.88%	32.92%	33.04%	33.04%	33.04%	58.09%	58.09%
No. of shareholders	—	—	—	—	—	—	—	—	34,023	30,359	29,498	28,657

Promoter holding down 25.9 percentage points since Sep 2023.

62 deals · 13 Sept 2021 – 17 Mar 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
17 Mar 2026	SETU SECURITIES PVT LTD	Bulk	NSE	Buy	3,99,050	₹26.61	₹1.06 Cr
17 Mar 2026	MULTIPLIER SHARE AND STOCK ADVISORS PVT LTD	Bulk	NSE	Sell	3,99,050	₹26.60	₹1.06 Cr
5 Mar 2026	XDUCE TECHNOLOGIES PRIVATE LIMITED	Bulk	NSE	Buy	10,00,000	₹26.67	₹2.67 Cr
5 Mar 2026	PRAVINABEN PRADYUMNABHAI SHAH	Bulk	NSE	Sell	10,00,000	₹26.68	₹2.67 Cr
2 Mar 2026	XDUCE TECHNOLOGIES PRIVATE LIMITED	Bulk	NSE	Buy	51,25,000	₹23.33	₹11.96 Cr
2 Mar 2026	JAIMIN JAGDISHBHAI SHAH	Bulk	NSE	Sell	29,64,000	₹23.25	₹6.89 Cr
2 Mar 2026	PRANAV NIRANJAN PANDYA	Bulk	NSE	Sell	15,00,000	₹23.40	₹3.51 Cr
2 Mar 2026	KRUTI PRANAV PANDYA	Bulk	NSE	Sell	6,24,000	₹23.50	₹1.47 Cr
31 Dec 2025	XDUCE TECHNOLOGIES PRIVATE LIMITED	Bulk	NSE	Buy	70,31,399	₹32.44	₹22.81 Cr
31 Dec 2025	AMISHA JAIMIN SHAH	Bulk	NSE	Sell	45,00,000	₹33.17	₹14.93 Cr

1–10 of 62

1 / 7

Mr. PRANAV NIRANJAN PANDYAExecutive Director-Chairperson
Mr. JAIMINBHAI JAGDISHBHAI SHAHExecutive Director-MD
Mr. VISHAL VASUExecutive Director
Mr. PRERAK PRADYUMNA SHAHExecutive Director
Ms. RAMA MOONDRANon-Executive - Independent Director
Mr. VENKATA RAMA SUBBA RAO VELAMURINon-Executive - Independent Director
Mr. UMESH RATEJANon-Executive - Independent Director
Mr. BHAVIN SANJAYBHAI BHAGATNon-Executive - Independent Director
Ms. Krisa Rupalkumar PatelCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Dev Information Technology Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

6

Final dividend23 Sept 2026 · ex-date₹0.1
Final dividend23 Sept 2025 · ex-date₹0.1
Interim dividend26 Nov 2024 · ex-date₹0.25
Final dividend23 Sept 2024 · ex-date₹0.25
Final dividend22 Sept 2023 · ex-date₹0.25
Final dividend22 Sept 2022 · ex-date₹0.5

1

Board meeting to consider results13 Aug 2026

2

Face value ₹5 → ₹221 Aug 2025 · ex-date
Face value ₹10 → ₹525 Nov 2022 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

27 announcementsExport CSV

1 Oct 2026, 5:51 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

30 Sept 2026, 6:38 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

30 Sept 2026, 6:23 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

30 Sept 2026, 6:15 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

16 Sept 2026, 3:44 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

11 Sept 2026, 4:54 pmCompany Update

Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS

Allotment of ESOP / ESPS PDF

11 Sept 2026, 4:52 pmCompany Update

Outcome Of The Nomination And Remuneration Committee Meeting Held On 11Th September, 2026

General PDF

11 Sept 2026, 4:45 pmOthers

Board Meeting Outcome for Outcome Of The Board Meeting

Outcome without intimation PDF

Date	Category	Subject	Filing
1 Oct 2026, 5:51 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
30 Sept 2026, 6:38 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF

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Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	50.6%	55.7%	51.1%	56.6%	61.2%	55.3%
EBITDA margin %	3%	4.8%	5.6%	8.4%	6.1%	1.7%
EBIT margin %	0.5%	3%	4.6%	7.6%	4.4%	-0%
PAT margin %	-0.5%	-0.1%	7.3%	5.8%	8.7%	39.9%
Working capital
Receivable days	94	114	103	114	159	175
Inventory days	75	39	30	0	40	28
Payable days	117	146	74	53	106	113
NWC days	53	6	59	62	94	90
Leverage
Current ratio	1.59	1.52	2.08	2.1	1.91	1.79
Debt to EBITDA	4.07	1.95	1.04	0.93	1.75	9.02
Debt to equity	0.32	0.29	0.17	0.23	0.27	0.27
Interest coverage	1	4.4	9.1	9.8	8	1.4
Asset turnover	1.36	1.5	1.83	1.71	1.4	1
Return ratios
Return on assets %	-0.6%	-0.1%	13.3%	9.9%	12.1%	40%
Return on capital employed %	3.9%	11.9%	31.8%	25.3%	29.1%	3.8%
Return on equity %	-1.2%	-0.2%	21.7%	17.1%	21.5%	69.1%

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	6	5	-2	-1	-9	-2
	-0	-1	-1	-2	9	-1
	-1	-3	-4	4	-2	7
Net cash flow	4	1	-7	1	-2	4
Free cash flow	5	3	-3	-3	-13	-16
CFO / Operating profit %	223.5%	99%	-23.8%	-5.7%	-84.7%	-66.3%

Dev Information Technology Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

6

1

2

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Investor Presentation and earnings call

6

1

2

Compounded sales growth

Compounded profit growth

Return on equity

Dev Information Technology Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Dividends6

Board meetings1

Stock splits2

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Investor Presentation and earnings call

Dividends6

Board meetings1

Stock splits2

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

6

1

2

6

1

2