Dev Information Technology Ltd.
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ABOUT
AI Sector View
AI GENERATEDInformation Technology
IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.
PROS
- Company has delivered good profit growth of 31.3% CAGR over last 5 years
- Company has a healthy return on capital (ROCE) of 26.1%
- Company has a good return on equity (ROE) track record: 3 Years ROE 22.6%
- Company has delivered good sales growth of 20.0% CAGR over last 5 years
- Company comfortably covers its interest (7.9x coverage)
- Company has a consistent dividend-paying track record
CONS
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (73.3% of PBT)
- Promoter holding has decreased over last 2 years: -28.6pp
- Receivables are growing faster than sales - a possible quality concern
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.34x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TCS | 2202.00 | 16.00 | 796702.87 | 5.00 | 13420.00 | 4.69 | 72275.00 | 13.93 | 66.25 | 25.67 |
| INFY | 1038.20 | 13.91 | 421325.69 | 4.62 | 7775.00 | 12.29 | 48211.00 | 14.03 | 42.84 | 23.66 |
| HCLTECH | 1207.00 | 18.80 | 327539.38 | 4.47 | 4626.00 | 20.34 | 34579.00 | 13.94 | 31.20 | 19.87 |
| WIPRO | 167.50 | 12.55 | 165902.38 | 6.57 | 3356.30 | 0.59 | 24478.60 | 10.59 | 18.49 | 18.93 |
| TECHM | 1539.50 | 29.38 | 150891.59 | 3.31 | 1486.30 | 31.67 | 15711.90 | 17.68 | 23.04 | 17.43 |
| LTM | 4301.15 | 24.39 | 127581.28 | 1.74 | 1468.60 | 17.06 | 11608.00 | 17.96 | 30.25 | 17.75 |
| OFSS | 11760.00 | 30.01 | 102409.76 | 3.40 | 1415.50 | 120.52 | 3125.20 | 68.73 | 45.50 | 60.04 |
| PERSISTENT | 5537.45 | 45.42 | 87353.27 | 0.72 | 483.04 | 13.67 | 4303.23 | 29.09 | 35.09 | 16.19 |
| COFORGE | 1847.40 | 46.58 | 81835.77 | 0.86 | 531.70 | 49.19 | 5527.70 | 49.86 | 24.70 | 19.14 |
| MPHASIS | 2294.10 | 22.92 | 43790.98 | 2.70 | 489.51 | 10.82 | 4384.05 | 17.46 | 23.31 | 18.15 |
| LTTS | 3334.95 | 26.80 | 35379.24 | 1.74 | 357.10 | 12.97 | 2940.10 | 11.47 | 27.70 | 18.65 |
| DEVIT | 24.29 | 1.81 | 136.91 | 0.41 | 21.09 | 866.54 | 441.31 | 926.66 | 26.64 | 7.56 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 60 | 28 | 32 | 43 | 35 | 36 | 48 | 52 | 43 | 49 | 44 | 54 | 44 | |
| 57 | 26 | 29 | 37 | 30 | 37 | 45 | 49 | 39 | 45 | 51 | 51 | 42 | |
| Operating Profit | 3 | 2 | 2 | 6 | 6 | -1 | 3 | 3 | 4 | 3 | -6 | 3 | 2 |
| OPM % | 5.08% | 7.37% | 7.72% | 14.27% | 16.33% | -2.98% | 6.29% | 5.33% | 8.28% | 6.47% | -14.43% | 5.40% | 5.34% |
| 0 | 1 | 0 | 1 | 0 | 12 | 0 | 0 | 0 | 94 | 1 | 2 | 1 | |
| Interest | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Profit before Tax | 3 | 2 | 2 | 6 | 5 | 9 | 2 | 2 | 3 | 96 | -7 | 3 | 3 |
| Tax % | 31.72% | 15.82% | 15.35% | 26.71% | 22.34% | 14.18% | 18.47% | 29.63% | 21.58% | 24.98% | -2.06% | -161.70% | 22.86% |
| Net Profit | 0 | 0 | 0 | 0 | 4 | 8 | 2 | 1 | 2 | 72 | -7 | 9 | 2 |
| 1.66 | -0.10 | 0.77 | 1.86 | 1.56 | 1.50 | 0.31 | 0.22 | 0.94 | 12.75 | -1.30 | 1.59 | 0.37 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 47 | 64 | 70 | 76 | 69 | 85 | 100 | 124 | 164 | 171 | 191 | |
| 43 | 58 | 61 | 68 | 64 | 82 | 95 | 117 | 150 | 160 | 189 | |
| Operating Profit | 5 | 6 | 9 | 8 | 5 | 2 | 5 | 7 | 14 | 10 | 2 |
| OPM % | 9.73% | 9.91% | 12.33% | 10.34% | 6.98% | 2.74% | 4.82% | 5.46% | 8.42% | 6.14% | 1.07% |
| 1 | 1 | 0 | 2 | 2 | 1 | 1 | 7 | 2 | 13 | 98 | |
| Interest | 1 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 3 | 3 |
| Depreciation | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 3 | 3 |
| Profit before Tax | 3 | 4 | 6 | 7 | 4 | 0 | 2 | 11 | 12 | 18 | 95 |
| Tax % | 35.63% | 33.07% | 27.97% | 35.25% | -0.51% | 858.47% | 103.61% | 19.86% | 24.16% | 18.25% | 20.25% |
| Net Profit | 2 | 3 | 4 | 4 | 4 | -0 | -0 | 9 | 9 | 15 | 76 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -0.34 | -0.03 | 4.06 | 4.13 | 6.60 | — |
| Dividend Payout % | 6.07% | 6.75% | 7.21% | 6.31% | 7.46% | -147.92% | 570.30% | 6.16% | 6.05% | 3.79% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 14%
- 5 Years:
- 20%
- 3 Years:
- 20%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 28%
- 5 Years:
- 32%
- 3 Years:
- 436%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 14%
- 3 Years:
- -23%
- 1 Year:
- -44%
RETURN ON EQUITY
- 10 Years:
- 16%
- 5 Years:
- 13%
- 3 Years:
- 23%
- Last Year:
- 24%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0 | 4 | 6 | 6 | 6 | 6 | 11 | 11 | 11 | 11 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 3 | 0 |
| 10 | 12 | 20 | 24 | 28 | 22 | 22 | 30 | 44 | 57 | |
| 7 | 7 | 9 | 11 | 11 | 11 | 9 | 7 | 14 | 20 | |
| Trade Payables | 10 | 17 | 17 | 9 | 9 | 13 | 18 | 12 | 10 | 19 |
| 3 | 3 | 3 | 6 | 5 | 10 | 7 | 7 | 13 | 14 | |
| Total Liabilities | 31 | 43 | 54 | 56 | 58 | 62 | 66 | 68 | 95 | 122 |
| 4 | 9 | 9 | 14 | 12 | 10 | 10 | 14 | 22 | 23 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 5 | 4 | 3 | 3 | 3 | 4 | |
| 3 | 5 | 7 | 6 | 6 | 9 | 5 | 5 | 6 | 7 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 51 | 75 | |
| Cash & Bank | 4 | 5 | 7 | 8 | 6 | 11 | 11 | 5 | 6 | 2 |
| 20 | 24 | 32 | 29 | 29 | 28 | 37 | 40 | 6 | 11 | |
| Total Assets | 31 | 43 | 54 | 56 | 58 | 62 | 66 | 68 | 95 | 122 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2 | 6 | -3 | 11 | 6 | 3 | 8 | -1 | -1 | -9 | |
| Cash from Investing | -0 | -6 | -1 | -7 | -7 | -0 | -2 | -1 | -2 | 9 |
| Cash from Financing | -1 | -1 | 6 | 0 | 1 | -1 | -3 | -4 | 4 | -2 |
| 0 | -1 | 2 | 0 | -2 | 4 | 1 | -7 | 1 | -1 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - Dev Information Technology Limited has informed the Exchange regarding Allotment of 623944 Shares.
2026-09-11 - Dev Information Technology Limited has informed the Exchange about General Updates
2026-09-11 - Dev Information Technology Limited has informed the Exchange regarding Outcome of Board Meeting held on September 11, 2026.
2026-09-10 - Dev Information Technology Limited has informed the Exchange about Bagging/Receiving of orders/contracts
2026-09-08 - Dev Information Technology Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-07 - Dev Information Technology Limited has informed the Exchange about General Updates
2026-09-04 - Dev Information Technology Limited has informed the Exchange about Copy of Newspaper Publication - Pre Dispatch Notice of Annual General Meeting to be held on Wednesday, September 30, 2026.
2026-09-03 - Dev Information Technology Limited has informed the Exchange regarding 'Intimation Regarding Record Date of Dividend and E-voting.
2026-09-03 - Dev Information Technology Limited has informed the Exchange regarding Notice of undefined to be held on September 30, 2026
News
Recent coverage and analyst commentary for DEVIT
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Dev Information Technology Ltd.
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