Dev Information Technology (DEVIT) had a P/E of 1.5× on 6 Nov 2026, below the industry P/E of 17.7×, and the shares are 53% below their 52-week high. Its ROCE of 76% is the highest among the 7 largest Information Technology Services peers, and sales and net profit grew 15% and 104% a year over 3 years. Its dividend yield is 0.5%, and debt is 0.17× equity. It is a small-cap company with a market cap of ₹117 Cr, ranked 86th of 126 Information Technology Services companies by market cap; the shares fell 50% over the past year.
- ₹21.00
- ₹21.00
- ₹20.05
- ₹20.78
- 18.6K
Health check
- ReturnsBehind
−50.0% over a year, better than 0 of 7 peers.
- Price tagCheaper
P/E 1.5 vs industry 17.7.
- GrowthStrong
Sales +14.8%, profit +103.6% a year over 3 years.
- ProfitabilityStrong
ROCE 75.5% vs peer median 27.2%.
- Balance sheetStretched
Debt 0.17× equity, interest covered 39.7×, Piotroski 3 of 9.
- Red flags4 to check
Return on equity is low at 5.1%.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹117 Cr
- Small cap
- P/E
- 1.5
- Industry 17.7
- Price to book
- 0.96
- Peers 5.20
- Dividend yield
- 0.49%
- ROE
- 5.1%
- Peers 22.9%
- ROCE
- 75.5%
- Peers 27.2%
- Debt to equity
- 0.17
- Debt ₹21 Cr
- EPS (TTM)
- ₹13.24
- Face value ₹2
- OPM (TTM)
- 1.7%
- Net margin 3.3%
- Sales growth
- +2.7%
- Latest quarter vs a year ago
- Profit growth
- −2.0%
- Latest quarter vs a year ago
- Price to sales
- 0.57
- EV/EBITDA 31.8
Strengths and risks
Strengths
- Return on capital employed of 75.5%.
- P/E of 1.5 against an industry P/E of 17.7.
Risks to check
- Return on equity is low at 5.1%.
- 53% below its 52-week high.
- Interest coverage of only 2.3×.
- Promoter stake down from 66.6% to 41.1%.
About Dev Information Technology
Dev Information Technology Limited provides information technology enabled services in India, Europe, and internationally. The company offers AI agent development, generative AI solutions, enterprise AI and automation, and AI governance services; cloud advisory and strategy, application modernization, managed cloud operations, and backup and disaster recovery services; data and analytics, modern workplace solutions, blockchain and Web3 solutions, and M365…
- Headquarters
- Ahmedabad
- Employees
- 1,083
- Sector
- Technology
- ISIN
- INE060X01034
- Website
- devitpl.com
Price range
- Avg volume (3M)
- 39.4K
- 1-year return
- minus 50.0%
- From 52-week high
- minus 53.4%
Peers · Information Technology Services
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TCSTata Consultancy Services | 2,498.50 | plus 0.11% | 9,03,979 | 17.5 | 7.60 | 54.9% | 45.6% | 26.5% | 5.8% | 5.3% | 1.92% | minus 16.5% |
| INFYInfosys | 1,181.40 | plus 1.20% | 4,78,511 | 15.7 | 4.91 | 39.0% | 30.0% | 23.1% | 6.7% | 6.9% | 4.40% | minus 20.5% |
| HCLTECHHCL Technologies | 1,440.00 | plus 0.66% | 3,89,754 | 21.3 | 5.20 | 27.2% | 24.6% | 20.8% | 8.7% | 3.9% | 3.33% | minus 6.4% |
| WIPROWipro | 198.00 | minus 0.20% | 1,95,898 | 15.6 | 2.46 | 17.8% | 15.9% | 19.2% | 0.8% | 5.2% | 4.04% | minus 16.6% |
| TECHMTech Mahindra | 1,831.00 | plus 0.46% | 1,79,476 | 29.4 | 5.47 | 19.8% | 19.2% | 17.2% | 2.2% | −0.1% | 2.79% | plus 29.3% |
| LTMLTM | 4,338.00 | minus 1.25% | 1,28,620 | 24.6 | 4.97 | 25.4% | 21.0% | 17.9% | 8.4% | 4.4% | 1.80% | minus 21.8% |
| PERSISTENTPersistent Systems | 6,053.50 | minus 0.92% | 99,859 | 53.0 | 11.12 | 29.4% | 22.9% | 16.9% | 20.9% | 26.5% | 0.59% | plus 4.3% |
| DEVITDev Information Technology | 20.52 | minus 1.25% | 117 | 1.5 | 0.96 | 75.5% | 85.2% | 1.7% | 14.8% | 103.6% | 0.49% | minus 50.0% |
| Median of 7 peers | – | 0.11% | 1,95,898 | 21.3 | 5.20 | 27.2% | 22.9% | 19.2% | 6.7% | 5.2% | 2.79% | −16.5% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 43 | 48.5 | 44.1 | 53.9 | 44.1 | |
| 39.4 | 45.4 | 50.5 | 51 | 40.7 | |
| 3.6 | 3.1 | −6.4 | 2.9 | 3.5 | |
| 8.3% | 6.5% | −14.4% | 5.4% | 7.9% | |
| 0.5 | 0.7 | 0.7 | 2.1 | 0.4 | |
| 0.5 | 0.7 | 0.5 | 1 | 0.7 | |
| 0.7 | 0.8 | 1.1 | 0.6 | 0.4 | |
| – | 93.5 | – | – | – | |
| 2.8 | 95.8 | −7.3 | 3.4 | 2.7 | |
| 21.5% | 25.0% | −2.1% | −161.6% | 22.8% | |
| 2.1 | 71.9 | −7.3 | 9.1 | 2.1 | |
| 0.37 | 12.75 | -1.43 | 1.56 | 0.36 |
Profit & loss
- Sales CAGR 3Y
- +14.8%
- Profit CAGR 3Y
- +103.6%
- EPS CAGR 3Y
- +101.3%
- ROE
- 5.1%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 124 | 163 | 170 | 188 | |
| – | +31.6% | +4.1% | +10.4% | |
| 117 | 149 | 159 | 182 | |
| 7.3 | 13.9 | 10.9 | 5.7 | |
| 5.9% | 8.5% | 6.4% | 3.0% | |
| 0.8 | 1.4 | 0.6 | 2.3 | |
| 1 | 1.2 | 1.7 | 2.4 | |
| 1.2 | 1.4 | 3 | 3.3 | |
| 5.3 | −0.1 | 11.3 | 92.5 | |
| 11.3 | 12.5 | 18.1 | 94.7 | |
| 19.9% | 24.2% | 18.3% | 20.2% | |
| 9 | 9.3 | 14.9 | 75.8 | |
| – | +3.5% | +60.1% | +409.5% | |
| 1.62 | 1.67 | 2.64 | 13.25 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 11.1 | 11.2 | 11.3 | 11.3 | |
| 30.5 | 44.2 | 57.4 | 98.1 | |
| 7.3 | 14.6 | 20 | 30.6 | |
| 18.9 | 25.5 | 33.5 | 48.9 | |
| 67.7 | 95.5 | 122 | 189 | |
| 9.1 | 13.2 | 11.8 | 11.6 | |
| 0.7 | – | – | – | |
| 3.2 | 3.5 | 7.3 | 51.9 | |
| 2.5 | 3.4 | 1.9 | 6.2 | |
| 52.3 | 75.4 | 101 | 119 | |
| 67.7 | 95.5 | 122 | 189 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −1.6 | −0.8 | −8.9 | −2.1 | |
| −0.6 | −2.1 | 9.3 | −1 | |
| −4.3 | 3.8 | −1.9 | 7.4 | |
| −6.6 | 0.9 | −1.5 | 4.3 | |
| −5.8 | −2 | −4.6 | −14.3 | |
| −7.4 | −2.8 | −13.4 | −16.4 | |
| −0.6 | −0.6 | −1.1 | −0.6 |
Shareholding pattern
- Promoters41.12%
- Public58.88%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 41.12% | 58.88% | minus 0.46 | |
| 30 Jun 2026 | 41.58% | 58.42% | 0.00 | |
| 31 Mar 2026 | 41.58% | 58.42% | minus 25.05 | |
| 31 Dec 2025 | 66.63% | 33.37% | 0.00 | |
| 30 Sep 2025 | 66.63% | 33.37% | – |
Major shareholders
Filings & events
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