DEVIT

Dev Information Technology Limited

IT services provider for domestic and international clients

Information Technology›Information Technology›IT - Services›IT Enabled Services

devitpl.com

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Key metrics

Price as of 2026-10-16

Stock price

₹19.66

Market cap

111 Cr

Stock P/E

1.5

P/B

1.01

Dividend yield

0.5%

ROE (FY26)

69.3%

ROCE (FY26)

70.4%

Operating margin (FY26)

-0.0%

Debt / equity (FY26)

0.27

OCF / EBITDA (3Y)

-43.0%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Dev IT (Dev Information Technology) is an Ahmedabad-based IT services company that sells cloud services, digital transformation, enterprise applications, managed IT services and application development, with Indian government departments a large customer group.

Company snapshot

48thBy market cap

Ranked among 56 companies in IT Enabled Services.

What we see

Positives

✓Net margin of 39.9% — the business keeps a healthy share of every rupee it earns.

Concerns

✗Over the last three years operations used more cash than they brought in, despite an operating profit — the business is not yet turning its profit into cash.

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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

Metric	Sept 2023	Dec 2023	Mar 2024	Jun 2024	Sept 2024	Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026
Sales	28 Cr	32 Cr	43 Cr	35 Cr	36 Cr	48 Cr	52 Cr	43 Cr	49 Cr	44 Cr	54 Cr	44 Cr
Operating expenses (approx.)	26 Cr	29 Cr	37 Cr	30 Cr	37 Cr	45 Cr	49 Cr	39 Cr	45 Cr	51 Cr	51 Cr	41 Cr
EBITDA	2 Cr	2 Cr	6 Cr	6 Cr	-1 Cr	3 Cr	3 Cr	4 Cr	3 Cr	-6 Cr	3 Cr	3 Cr
OPM %	7.4%	7.7%	14.3%	16.3%	-3.0%	6.3%	5.3%	8.3%	6.5%	-14.4%	5.4%	7.9%
Other income	0.56 Cr	0.23 Cr	0.53 Cr	0.27 Cr	12 Cr	0.44 Cr	0.23 Cr	0.47 Cr	0.67 Cr	0.72 Cr	2 Cr	0.51 Cr
Interest	0.35 Cr	0.33 Cr	0.40 Cr	0.52 Cr	0.99 Cr	0.51 Cr	0.58 Cr	0.54 Cr	0.71 Cr	0.54 Cr	0.98 Cr	0.72 Cr
Depreciation	0.30 Cr	0.33 Cr	0.49 Cr	0.75 Cr	0.79 Cr	0.70 Cr	0.79 Cr	0.71 Cr	0.84 Cr	1 Cr	0.63 Cr	0.39 Cr
Profit before tax	2 Cr	2 Cr	6 Cr	5 Cr	9 Cr	2 Cr	2 Cr	3 Cr	96 Cr	-7 Cr	3 Cr	3 Cr
Tax %	15.7%	15.2%	26.6%	22.4%	14.2%	18.3%	29.9%	21.5%	25.0%	-2.1%	-161.6%	22.8%
Net profit	2 Cr	2 Cr	4 Cr	4 Cr	8 Cr	2 Cr	1 Cr	2 Cr	72 Cr	-7 Cr	9 Cr	2 Cr
EPS (₹)	₹0.74	₹0.77	₹1.86	₹1.56	₹3.74	₹0.77	₹0.54	₹0.94	₹12.75	₹-1.30	₹1.59	₹0.37

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	100 Cr	124 Cr	164 Cr	171 Cr	190 Cr	Sign in free for the trailing twelve months
Operating expenses (approx.)	95 Cr	117 Cr	150 Cr	160 Cr	186 Cr	Sign in free for the trailing twelve months
EBITDA	5 Cr	7 Cr	14 Cr	10 Cr	3 Cr	Sign in free for the trailing twelve months
OPM %	4.8%	5.6%	8.4%	6.1%	1.7%	Sign in free for the trailing twelve months
Other income	1 Cr	7 Cr	2 Cr	13 Cr	4 Cr	Sign in free for the trailing twelve months
Interest	0.94 Cr	1 Cr	1 Cr	3 Cr	3 Cr	Sign in free for the trailing twelve months
Depreciation	2 Cr	1 Cr	1 Cr	3 Cr	3 Cr	Sign in free for the trailing twelve months
Profit before tax	2 Cr	11 Cr	12 Cr	18 Cr	95 Cr	Sign in free for the trailing twelve months
Tax %	103.6%	20.6%	24.2%	18.3%	20.2%	Sign in free for the trailing twelve months
Net profit	-0.07 Cr	9 Cr	9 Cr	15 Cr	76 Cr	Sign in free for the trailing twelve months
EPS (₹)	₹-0.06	₹4.08	₹4.19	₹6.61	₹13.42	Sign in free for the trailing twelve months
Dividend payout %	—	6.1%	5.8%	7.6%	0.7%	Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	11 Cr	11 Cr	11 Cr	11 Cr	11 Cr
Reserves	22 Cr	30 Cr	44 Cr	57 Cr	98 Cr
Borrowings	10 Cr	7 Cr	13 Cr	18 Cr	29 Cr
Other liabilities	24 Cr	19 Cr	24 Cr	35 Cr	50 Cr
Total liabilities	66 Cr	68 Cr	95 Cr	122 Cr	189 Cr
Fixed assets (net)	8 Cr	8 Cr	12 Cr	12 Cr	12 Cr
CWIP	0.87 Cr	1 Cr	3 Cr	4 Cr	4 Cr
Investments	3 Cr	3 Cr	11 Cr	4 Cr	48 Cr
Loans & advances	0 Cr	0 Cr	0.07 Cr	0.04 Cr	0 Cr
Inventories	5 Cr	5 Cr	0 Cr	7 Cr	6 Cr
Trade receivables	31 Cr	35 Cr	51 Cr	75 Cr	91 Cr
Cash & bank	9 Cr	2 Cr	3 Cr	2 Cr	6 Cr
Other assets	10 Cr	13 Cr	15 Cr	19 Cr	22 Cr
Total assets	66 Cr	68 Cr	95 Cr	122 Cr	189 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	5 Cr	-2 Cr	-0.79 Cr	-9 Cr	-2 Cr
Cash from investing	-1 Cr	-0.65 Cr	-2 Cr	9 Cr	-0.96 Cr
Cash from financing	-3 Cr	-4 Cr	4 Cr	-2 Cr	7 Cr
Net cash flow	0.99 Cr	-7 Cr	0.90 Cr	-1 Cr	4 Cr
Free cash flow (OCF − Capex)	3 Cr	-7 Cr	-3 Cr	-13 Cr	-16 Cr

Ratios

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROCE %	6.9%	26.1%	19.6%	23.7%	70.4%
ROE %	-0.2%	21.6%	15.9%	21.6%	69.3%
Debtor days	113	103	114	159	175
Inventory days	42	30	0	40	28
Days payable	160	74	52	104	113
Cash conversion cycle	-4	59	62	95	89
OCF / EBITDA %	99.1%	-23.8%	-5.8%	-84.7%	n.m.
OCF / EBITDA % (3 years)	—	—	9.1%	-36.3%	-43.0%
Debt / equity	0.29	0.17	0.23	0.27	0.27
Current ratio	1.52	2.08	2.10	1.91	1.79
Net debt / EBITDA	0.14	0.68	0.68	1.57	7.10