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 35.1% CAGR over last 5 years
- Company has a healthy return on capital (ROCE) of 24.8%
- Company has a good return on equity (ROE) track record: 3 Years ROE 21.7%
- Company has delivered good sales growth of 17.9% CAGR over last 5 years
- Company comfortably covers its interest (12.4x coverage)
- Attractively priced for its growth - PEG of 0.0
CONS
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (67.8% of PBT)
- Receivables are growing faster than sales - a possible quality concern
- Promoter holding has decreased over last 2 years: -28.6pp
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.33x)
* 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
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 59 | 30 | 31 | 38 | 30 | 32 | 42 | 46 | 35 | 45 | 36 | 46 | 32 | |
| 56 | 28 | 28 | 32 | 25 | 32 | 39 | 44 | 32 | 42 | 42 | 44 | 31 | |
| Operating Profit | 3 | 2 | 2 | 6 | 5 | -0 | 3 | 2 | 3 | 3 | -6 | 2 | 1 |
| OPM % | 4.75% | 6.83% | 7.58% | 14.81% | 16.36% | -0.84% | 7.82% | 4.11% | 8.65% | 6.20% | -15.88% | 4.01% | 4.43% |
| 0 | 1 | 0 | 0 | 0 | 12 | 0 | 0 | 0 | 93 | 0 | 2 | 0 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 | 0 | 1 | 1 | 1 | 0 |
| Profit before Tax | 2 | 2 | 2 | 5 | 4 | 11 | 3 | 1 | 2 | 95 | -6 | 3 | 2 |
| Tax % | 32.39% | 16.41% | 15.74% | 28.33% | 21.38% | 13.85% | 23.44% | 25.64% | 27.08% | 25.24% | -1.73% | -214.45% | 24.87% |
| Net Profit | 2 | 2 | 2 | 4 | 3 | 9 | 2 | 1 | 2 | 71 | -6 | 8 | 1 |
| 0.75 | 0.73 | 0.75 | 1.73 | 1.47 | 1.63 | 0.37 | 0.15 | 0.78 | 12.55 | -1.15 | 1.47 | 0.23 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 45 | 57 | 67 | 71 | 66 | 84 | 99 | 122 | 157 | 151 | 159 | |
| 40 | 50 | 59 | 64 | 62 | 81 | 94 | 116 | 145 | 141 | 159 | |
| Operating Profit | 5 | 6 | 8 | 7 | 4 | 3 | 5 | 6 | 13 | 10 | 0 |
| OPM % | 10.69% | 11.12% | 11.91% | 9.88% | 6.45% | 3.40% | 5.49% | 5.14% | 8.11% | 6.56% | 0.20% |
| 0 | 0 | 0 | 2 | 3 | 1 | 1 | 7 | 1 | 13 | 96 | |
| Interest | 1 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 |
| Depreciation | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 2 | 2 |
| Profit before Tax | 3 | 4 | 5 | 7 | 3 | 0 | 4 | 11 | 12 | 19 | 93 |
| Tax % | 36.14% | 33.10% | 30.31% | 32.96% | -0.57% | 156.01% | 49.97% | 19.38% | 25.14% | 17.68% | 20.28% |
| Net Profit | 2 | 3 | 3 | 4 | 3 | -0 | 2 | 9 | 9 | 15 | 74 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -0.03 | 0.87 | 3.93 | 3.90 | 6.84 | — |
| Dividend Payout % | 6.21% | 6.95% | 8.00% | 6.33% | 8.05% | -180.53% | 28.83% | 6.34% | 6.41% | 3.65% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 13%
- 5 Years:
- 18%
- 3 Years:
- 15%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 29%
- 5 Years:
- 35%
- 3 Years:
- 100%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 14%
- 3 Years:
- -23%
- 1 Year:
- -44%
RETURN ON EQUITY
- 10 Years:
- 16%
- 5 Years:
- 14%
- 3 Years:
- 22%
- Last Year:
- 24%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 |
| 10 | 12 | 20 | 24 | 27 | 27 | 23 | 31 | 44 | 60 | |
| 7 | 7 | 8 | 9 | 11 | 11 | 9 | 7 | 11 | 15 | |
| Trade Payables | 10 | 17 | 17 | 9 | 10 | 14 | 18 | 12 | 11 | 19 |
| 3 | 3 | 3 | 4 | 5 | 5 | 7 | 7 | 12 | 12 | |
| Total Liabilities | 31 | 43 | 53 | 53 | 58 | 62 | 67 | 68 | 89 | 117 |
| 4 | 9 | 9 | 11 | 12 | 10 | 10 | 9 | 11 | 12 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 5 | 4 | 4 | 9 | 15 | 19 | |
| 3 | 5 | 7 | 6 | 6 | 9 | 5 | 5 | 6 | 7 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 50 | 71 | |
| Cash & Bank | 3 | 4 | 6 | 6 | 6 | 10 | 9 | 4 | 4 | 0 |
| 20 | 25 | 32 | 30 | 29 | 29 | 39 | 41 | 3 | 8 | |
| Total Assets | 31 | 43 | 53 | 53 | 58 | 62 | 67 | 68 | 89 | 117 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2 | 3 | -3 | 8 | 9 | 3 | 7 | -1 | -1 | -9 | |
| Cash from Investing | 0 | -5 | -1 | -4 | -7 | -1 | -2 | -1 | -2 | 7 |
| Cash from Financing | -1 | 1 | 6 | -1 | -1 | -1 | -3 | -4 | 3 | 2 |
| 0 | -2 | 2 | 0 | -0 | 4 | -0 | -6 | 0 | -0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| 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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