Dev Information Technology Limited (DEVIT)
₹19.66 +0.31% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Dev Information's revenue was ₹44.1 Cr (+2.7% year on year, -18.1% on the previous quarter), and net profit ₹2.1 Cr (-3.3% year on year); the operating margin was 7.9%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹44.1 | +2.7% | -18.1% |
| Operating profit | ₹3.5 | -2.4% | +19.3% |
| Net profit | ₹2.1 | -3.3% | -76.5% |
| EPS (₹) | 0.37 | -1.6% | -77.0% |
| Operating margin | 7.9% | — | — |
EPS restated for the ₹5 to ₹2 split of Aug 2025: Q1 FY26 ₹0.94 to ₹0.38.
DEVIT delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 69.34% of the DEVIT shares traded on NSE were taken to delivery, against the stock's own 20-session average of 69.48%. That is close to its usual level. Turnover was only ₹2 lakh, so a handful of trades can move this figure. Volume was 0.2 times its average, well below normal.
Delivery in the last 5 sessions: 67.5% · 57.3% · 59.9% · 61.9% · 69.3%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Dev Information Technology Limited reported the voting results of its 29th Annual General Meeting held on September 30, 2026. Shareholders approved all 12 resolutions with over 99.9% votes in favor, including an ordinary dividend of 5% (₹0.10 per share) for FY26. Other approved matters included director appointments and multiple material related-party transactions with subsidiaries and associates such as Dev Info-Tech North America, Dhyey Consulting, and Dynamics Stars LLC. Total votes polled reached 3,79,76,572, representing 66.64% of total outstanding shares.
- Approved dividend of 5% amounting to ₹0.10 per equity share for FY26
- Shareholder turnout stood at 66.64% of total shares (3,79,76,572 votes polled out of 5,69,87,658 shares)
- Resolutions passed with overwhelming support, achieving >99.99% votes in favor across polled votes
- Multiple material related-party transactions approved across subsidiaries including Dynamics Stars LLC and Dhyey Consulting Services
Dev Information Technology Limited has scheduled an analyst and investor interaction on September 24, 2026, at 02:00 PM IST. The interaction will be conducted virtually in a group meeting format organized by Kirin Advisors. The company stated that discussions will focus strictly on publicly available information with no unpublished price-sensitive information being shared.
- Meeting scheduled for September 24, 2026, at 02:00 P.M.
- Interaction mode is virtual and conducted as a group meeting
- Investor meet organized by Kirin Advisors
- No unpublished price-sensitive information (UPSI) will be discussed
Dev Information Technology Limited has established Wednesday, September 23, 2026, as the record date to determine shareholder eligibility for its final dividend for FY 2025-26. The same date will also serve as the cut-off for e-voting and attendance at the company's 29th Annual General Meeting. The specific dividend payout amount per share was not disclosed in the filing. The company previously reported FY26 net profit of ₹76.55 crore on revenue of ₹181.39 crore.
- Record date fixed for Wednesday, 23rd September, 2026
- Record date covers eligibility for Final Dividend for FY 2025-26
- Cut-off date applies to E-voting and participation in the 29th Annual General Meeting
- Dividend quantum per share not disclosed in the filing
Dev Information Technology Limited has approved the allotment of 6,23,944 equity shares of face value Rs. 2/- each to eligible employees following the exercise of options under the Dev Information Technology Limited Employee Stock Option Plan – 2024. The newly allotted shares will rank pari passu with existing equity shares in all respects. The company stated that no shares were allotted to directors in this tranche. The board meeting approving the allotment was held on September 11, 2026, from 04:00 P.M. to 04:35 P.M.
- Allotment of 6,23,944 equity shares approved pursuant to ESOP Plan 2024
- Shares have a face value of Rs. 2/- each
- Zero shares allotted to Directors of the company in this tranche
- Board meeting commenced at 04:00 P.M. and concluded at 04:35 P.M. on September 11, 2026
Dev Information Technology Limited has approved the allotment of 6,23,944 equity shares of face value Rs 2 each following the exercise of stock options under its ESOP 2024 scheme. The options were exercised at a price of Rs 2.40 per share, realizing total proceeds of Rs 14.97 lakh. Following this allotment, the company's total issued share capital expands slightly to 5,69,87,659 shares (paid-up capital of Rs 11.40 crore). The dilution is minor, representing approximately 1.1% of the post-issue share capital.
- Approved allotment of 6,23,944 equity shares of face value Rs 2 each under ESOP 2024
- Exercise price fixed at Rs 2.40 per stock option, realizing Rs 14,97,465.6 in proceeds
- Post-issue equity capital increases to 5,69,87,659 shares amounting to Rs 11,39,75,318
- A total of 6,522 stock options lapsed during the exercise window
Dev Information Technology Limited has approved the allotment of 6,23,944 equity shares of face value Rs 2 each under its ESOP Plan 2024. The shares were exercised at a price of Rs 2.40 per share, realizing a total sum of Rs 14,97,465.6. Following the allotment, the company's total issued share capital stands expanded to 5,69,87,659 shares amounting to Rs 11.39 crore. The equity dilution from this exercise is modest at approximately 1.1% of the expanded share base.
- Approved allotment of 6,23,944 equity shares of face value Rs 2 each under ESOP Plan 2024
- Exercise price fixed at Rs 2.40 per stock option
- Total funds realized by the company from the exercise amount to Rs 14,97,465.6
- Post-allotment paid-up equity capital increased to Rs 11,39,75,318 across 5,69,87,659 shares
- A total of 6,522 stock options lapsed under the scheme
Dev Information Technology Limited (DEVIT) has secured a domestic enterprise technology order valued at approximately ₹30 Lakhs from the Central Power Research Institute (CPRI), Bangalore, under the Ministry of Power. The scope of work includes redesign, redevelopment, testing, commissioning, security audits, and comprehensive bilingual maintenance adhering to GIGW 3.0 standards. The project is fixed-cost and has an execution timeline of approximately 4 years. Given DEVIT's TTM revenue of ₹183 Cr, this contract accounts for less than 0.2% of annual revenue and represents a routine public-sector engagement.
- Order value of approximately ₹30 Lakhs awarded by Central Power Research Institute (CPRI) Bangalore
- Execution timeline spans approximately 4 years under a fixed-cost contract structure
- Scope includes redesign, redevelopment, rollout, security audit, and maintenance adhering to GIGW 3.0 standards
- Represents less than 0.2% of DEVIT's TTM revenue of ₹183 Cr
Dev Information Technology Limited has scheduled its 29th Annual General Meeting (AGM) for Wednesday, September 30, 2026, at 4:00 PM IST via Video Conferencing/Other Audio-Visual Means. The company has made its Integrated Annual Report for FY 2025-26 available online and dispatched communication letters with the web link to shareholders who have not registered their email addresses. This is a standard corporate compliance filing pursuant to SEBI Listing Regulations.
- 29th Annual General Meeting scheduled for September 30, 2026, at 4:00 PM IST
- AGM to be conducted via Video Conferencing / Other Audio-Visual Means
- Dispatched letters with web-link access to the FY25-26 Integrated Annual Report to unregistered shareholders
- Filing made pursuant to Regulation 30 and Regulation 36(1)(b) of SEBI LODR Regulations
Dev Information Technology Limited has fixed Wednesday, September 23, 2026, as the record date and cut-off date for determining shareholder eligibility for its final dividend for FY 2025-26. The same date will also serve as the cut-off for e-voting rights at the company's upcoming 29th Annual General Meeting. The specific dividend payout amount per share was not disclosed in this filing.
- Record date and cut-off date fixed for Wednesday, 23rd September, 2026
- Applies to eligibility for the final dividend for FY 2025-26
- Sets eligibility for e-voting and attending the 29th Annual General Meeting
Dev Information Technology Limited has scheduled its 29th Annual General Meeting (AGM) for September 30, 2026, via video conferencing. The company set September 23, 2026, as the cut-off date for e-voting eligibility and the record date for the final dividend payment. The board also recommended the appointment of Mr. Jayesh Madhusudan Dave as a Nominee Director representing XDuce Technologies and Ms. Bhawika Ogra as an Independent Director for a 5-year term starting October 1, 2026. Remote e-voting is scheduled to take place between September 25, 2026, and September 29, 2026.
- 29th AGM scheduled for September 30, 2026, at 04:00 PM IST via VC/OAVM
- Record date for final dividend payment and e-voting cut-off set for September 23, 2026
- Remote e-voting window open from September 25, 2026 (9:00 AM) to September 29, 2026 (5:00 PM)
- Proposed appointment of Ms. Bhawika Ogra as Independent Director for a 5-year term from Oct 1, 2026, to Oct 1, 2031
- Proposed appointment of Mr. Jayesh Dave as Nominee Director representing XDuce Technologies w.e.f. October 1, 2026
Dev Information Technology Limited has scheduled its 29th Annual General Meeting (AGM) for September 30, 2026, via video conferencing. The Board fixed September 23, 2026, as the record date and cut-off date for eligibility for the final dividend and remote e-voting. Additionally, the Board recommended the appointment of Mr. Jayesh Madhusudan Dave as a Nominee Director representing XDuce Technologies and Ms. Bhawika Ogra as an Independent Director for a 5-year term starting October 1, 2026.
- 29th AGM scheduled for September 30, 2026, at 04:00 PM IST via VC/OAVM
- Record date and e-voting cut-off date set as September 23, 2026
- Remote e-voting window open from September 25, 2026, to September 29, 2026
- Recommended 5-year appointment of Ms. Bhawika Ogra as Independent Director from October 1, 2026 to October 1, 2031
- Recommended appointment of Mr. Jayesh Madhusudan Dave as Non-Executive Nominee Director representing XDuce Technologies
Dev Information Technology Limited has secured a domestic work order worth approximately ₹5.15 crore from National Informatics Centre Services Incorporated (NICSI). The project involves developing and implementing IFMS 3.0 Web and Mobile Applications for the Directorate of Treasuries and Accounts, Government of Rajasthan. The contract execution timeline is approximately six months. The order represents approximately 2.8% of the company's TTM revenue of ₹183 crore.
- Secured work order worth approximately ₹5.15 crore from NICSI
- Project execution timeline scheduled for approximately 6 months
- Scope includes IFMS 3.0 Web and Mobile Apps (Pension, Employee, Salary & Works management)
- Order value represents ~2.8% of DEV IT's TTM revenue of ₹183 crore
Dev Information Technology Limited has secured a domestic work order worth approximately ₹5.15 crore from National Informatics Centre Services Incorporated (NICSI). The contract involves the development of IFMS 3.0 Web and Mobile Applications for the Directorate of Treasuries and Accounts, Government of Rajasthan. The order is fixed-cost with an execution timeframe of approximately 6 months. Relative to DEVIT's TTM revenue of ₹183 crore, the order represents ~2.8% of annual turnover.
- Total order value is approximately ₹5.15 crore
- Execution timeline is approximately 6 months on a fixed-cost contract basis
- Client is NICSI for the Directorate of Treasuries and Accounts, Government of Rajasthan
- Scope covers development of IFMS 3.0 modules including Pension, Employee, Salary, and Grant-in-Aid management
Dev Information Technology (DEVIT) reported a consolidated total income of ₹44.64 Cr for Q1 FY27, a modest 2.7% YoY growth from ₹43.46 Cr. Net profit for the quarter stood at ₹2.11 Cr, slightly lower than the ₹2.18 Cr reported in the same period last year. EBITDA margins saw a minor compression, falling to 8.93% from 9.27% YoY. The company continues to focus on government digital transformation projects and its strategic alignment with XDuce for North American market expansion.
- Consolidated Total Income grew 2.7% YoY to ₹44.64 Cr in Q1 FY27.
- Consolidated Net Profit stood at ₹2.11 Cr, representing a 4.72% margin.
- Standalone Total Income declined by 8.1% YoY to ₹32.80 Cr from ₹35.69 Cr.
- Consolidated EBITDA was ₹3.99 Cr, nearly flat compared to ₹4.03 Cr in Q1 FY26.
- The company is maintaining its focus on AI, Cybersecurity, and Cloud services with a dedicated investment of ₹7-12 Cr.
DEVIT reported a weak start to FY27 with standalone revenue declining 8.4% YoY to ₹32.50 Cr and standalone PAT falling 25% to ₹1.31 Cr. On a consolidated basis, revenue stood at ₹35.07 Cr, down 6.6% YoY. While Total Comprehensive Income reached ₹7.41 Cr, this was primarily driven by a ₹6.10 Cr non-cash fair value gain on investments rather than core operations. The company is also in the process of divesting a 25% stake in its subsidiary, Dhyey Consulting, for ₹4.60 Cr.
- Standalone revenue from operations fell to ₹32.50 Cr from ₹35.48 Cr in the year-ago quarter.
- Standalone PAT decreased to ₹1.31 Cr, a 25% drop compared to ₹1.75 Cr in Q1 FY26.
- Other Comprehensive Income (OCI) contributed a significant ₹6.10 Cr gain due to fair value changes in investments.
- Completed the slump sale of proprietary products ByteSIGNER and Talligence for ₹11.85 Cr effective March 31, 2026.
- Transferred a 5.04% stake in subsidiary Dhyey Consulting on July 14, 2026, as part of a larger 25% divestment plan.
Financial Performance
Revenue Growth by Segment
Consolidated revenue grew 11.38% in FY 2024-25 to INR 183.91 Cr. In H1 FY 2025-26, revenue reached INR 92.64 Cr, a 10.32% increase YoY. While specific segment percentages are not disclosed, management highlighted that growth is being driven by India-centric business and a recovery in export markets.
Geographic Revenue Split
The company is shifting focus toward the India market for sustainability, which currently accounts for a significant portion of the 40% order book. Overseas markets, specifically the USA and exports, have shown growth traction in recent months despite geopolitical turmoil.
Profitability Margins
Net Profit Ratio improved significantly to 10.24% in FY 2024-25 from 5.58% in FY 2023-24 (an 83.59% increase). However, Q2 FY 2025-26 reported net profit of INR 71.88 Cr was heavily inflated by an exceptional gain of INR 93.55 Cr from the DevX IPO.
EBITDA Margin
EBITDA for Q2 FY 2025-26 stood at INR 3.82 Cr, a sharp 66% decline from INR 11.23 Cr in Q2 FY 2024-25. This margin compression is attributed to heavy investments in employee upskilling and the creation of IT-based solutions/IPs which are expected to yield returns in future quarters.
Capital Expenditure
Planned R&D and Center of Excellence (CoE) investment is between INR 12 Cr and INR 18 Cr. This includes INR 7-12 Cr for AI and Blockchain products and INR 3-5 Cr for Cybersecurity infrastructure.
Credit Rating & Borrowing
Debt-to-equity ratio increased by 29.49% to 0.22 in FY 2024-25 (from 0.17) due to increased loan obligations. Interest Coverage Ratio remains healthy at 12.42, though it slightly declined by 1.28% YoY.
Operational Drivers
Raw Materials
As an IT services firm, the primary 'raw material' is human capital/technical talent, which accounts for the bulk of operational costs. Upskilling expenses for emerging technologies like AI and Blockchain are currently the primary cost drivers impacting margins.
Import Sources
Not applicable as the company provides IT services; however, talent is primarily sourced from India, with service delivery extending to the USA and other overseas markets.
Key Suppliers
Not disclosed in available documents as the business is service-oriented rather than manufacturing-based.
Capacity Expansion
The company is expanding its 'digital capacity' by creating a Center of Excellence for AI, Blockchain, and Cybersecurity. It currently has 40+ solutions available on the Microsoft Marketplace.
Raw Material Costs
Employee-related costs are the primary expenditure. The company is intentionally lowering short-term margins (EBITDA fell 66% in Q2 FY26) to invest in workforce productivity and alignment with emerging technologies.
Manufacturing Efficiency
Operational performance is being driven by a 'recalibration of workforce allocation,' focusing on productivity in high-demand areas like cybersecurity and data analytics.
Strategic Growth
Expected Growth Rate
10.32%
Growth Strategy
Growth will be achieved through 'asset class creation' (investing in startups like DevX), developing proprietary IPs (Talligence, ByteSigner), and expanding the Microsoft Marketplace portfolio (40+ solutions). The company is also focusing on high-margin recurring revenue through long-term managed services contracts.
Products & Services
IT solutions including Talligence (BI tool), ByteSigner (digital signature), and various cloud, cybersecurity, and AI-based managed services.
Brand Portfolio
DEVIT, Talligence, ByteSigner, Minddeft, Dhyey, and DevX (associate venture).
New Products/Services
New AI and Blockchain-based products are under development with a dedicated investment of INR 7-12 Cr, intended to create a recurring revenue mix.
Market Expansion
Aggressive focus on the India market for sustainability while maintaining growth in the USA and export markets.
Strategic Alliances
Strategic equity stake in Dev Accelerator Limited (DevX), which recently went public. DEVIT's shareholding was adjusted from 23% to 17% following the IPO, resulting in a valuation gain.
External Factors
Industry Trends
The industry is shifting toward AI adoption, cybersecurity, and digital transformation. DEVIT is positioning itself by upskilling its workforce and creating a 'world-class shop' for cybersecurity within its infrastructure.
Competitive Landscape
The company competes in the IT services and digital transformation space, differentiating through its 'People First' philosophy and its role as a promoter/investor in tech-adjacent businesses.
Competitive Moat
The moat is built on 'asset class creation' and IP ownership. By developing proprietary solutions like Talligence and holding a significant stake in a public accelerator (DevX), the company creates value beyond traditional IT services.
Macro Economic Sensitivity
Highly sensitive to global geopolitical stability and Indian government labor regulations. Management noted that geopolitical turmoil is a factor they are waiting to settle to fully utilize new solutions.
Consumer Behavior
Strong long-term demand for enterprise system modernization and AI adoption is driving the shift toward managed services and recurring revenue models.
Geopolitical Risks
Geopolitical turmoil is currently impacting the timing of overseas business utilization, prompting a strategic pivot to India-centric business for sustainability.
Regulatory & Governance
Industry Regulations
Compliance with the Companies Act 2013 and SEBI LODR Regulations. The company is also monitoring new labor codes which may impact cost structures.
Risk Analysis
Key Uncertainties
The primary uncertainty is the timeline for the 'geopolitical turmoil' to settle, which impacts the return on current R&D investments. Margin pressure from upskilling (66% EBITDA drop in Q2 FY26) is a significant short-term risk.
Geographic Concentration Risk
While expanding, the company is currently heavily reliant on the India market for 'sustainability' during global uncertainty.
Third Party Dependencies
High dependency on the Microsoft Marketplace ecosystem for solution distribution (40+ solutions listed).
Technology Obsolescence Risk
The company is mitigating technology risk by investing INR 12-18 Cr in AI and Blockchain to avoid obsolescence in the rapidly evolving IT landscape.
Credit & Counterparty Risk
Receivables Turnover Ratio declined by 7.74% to 2.60, indicating a slight slowdown in collections compared to the previous year.
