DEVIT
Dev Information Technology financials
- Market cap
- ₹137 Cr
- Sector
- Information Technology
- Calls analysed
- 4
Dev Information Q4 FY26
What went well
- Q4 FY26 total income increased by 8.1% year-on-year to INR 56 crores.
- Q4 FY26 EBITDA grew by 68.5% to INR 5.04 crores.
- Q4 FY26 EBITDA margin improved by 322 basis points to 8.99%.
What to watch
- Full-year FY26 EBITDA margin was lower at 3.74% due to focus on lower-margin India market and integration costs.
- Product businesses (Talligence, ByteSIGNER) were transferred to Technosys due to high investment requirements and their impact on DEV IT's EBITDA.
What Dev Information Technology Limited does
Dev Information Technology Limited (DEV IT) is an IT services and solutions provider offering cloud services, digital transformation, Microsoft Dynamics/Power Platform enterprise applications, managed IT services, bespoke application development and cybersecurity services to government and corporate clients in India and abroad. It operates a branch office in Canada and is expanding international delivery through partnerships with US-based XDuce Infotech and UCI New York. Its subsidiary DevX runs a network of managed co-working office spaces across Indian cities, while its R&D arm DevLabs works on AI, blockchain, IoT and cybersecurity. DEV IT previously developed the Talligence and ByteSIGNER software products, which were transferred to an affiliate (Technosys) in FY26 so the company could concentrate on its core IT services business.
Segments
- IT Services
- Cybersecurity Services
- Co-Working Space (DevX)
- Employees
- 1,000+
- Completed projects
- 1,800+
- Clients served
- 600+ (250+ private-sector, 100+ government-sector)
- Industries served
- 20+
- Operating history
- 25+ years (founded 1997)
- Office locations
- Gujarat, Maharashtra & Rajasthan (India), plus a branch office in Canada
Guidance record · Q4 FY26
what the last two calls moved 10 tracked 0 delivered 4 missed 6 open- Corporate Action Timeline went quiet said Q3 FY25 Promised: Complete stock split process before March end (FY25) Q4 FY26: No mention of the stock split completion in the provided text for the second consecutive reporting period.
- Cybersecurity Revenue on track said Q3 FY25 Promised: More than double growth in next financial year (FY26) Q4 FY26: FY26 revenue was reported as INR 5-8 cr (~$0.6-0.96M). This result in FY26 is already within the revised target range set for FY27 ($0.5M-$2M), indicating strong progress on the diluted goal.
All 10 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 2.7%, net profit down 3.2% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 36 | 48 | 52 | 43 | 49 +35% | 44 −7% | 54 +5% | 44 +3% |
| EBITDA | -1 | 3 | 3 | 4 | 3 +391% | -6 −312% | 3 +5% | 3 −6% |
| Net profit | 8 | 2 | 1 | 2 | 72 +786% | -7 −508% | 9 +693% | 2 −3% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −44.4% 1Y
1Y: ₹43.48 on 10 Sept 2025 → ₹24.18. High ₹43.94 (16 Sept 2025), low ₹22.86 (25 Feb 2026).
How the price took the results
close before → close after
- Q4 FY26
- +6.9%
- 9 Jun
- Q2 FY26
- −0.1%
- 27 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 15.1% a year over 3 years, FY23 to FY26. Operating margin narrowed to 1.7%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹124 Cr | ₹164 Cr | ₹171 Cr | ₹190 Cr |
| Operating profit | ₹7 Cr | ₹14 Cr | ₹10 Cr | ₹3 Cr |
| Operating margin | 5.7% | 8.4% | 6.1% | 1.7% |
| Interest | ₹1 Cr | ₹1 Cr | ₹3 Cr | ₹3 Cr |
| Depreciation | ₹1 Cr | ₹1 Cr | ₹3 Cr | ₹3 Cr |
| Net profit | ₹9 Cr | ₹9 Cr | ₹15 Cr | ₹76 Cr |
| Net margin | 7.2% | 5.8% | 8.7% | 39.9% |
| Cash from operations | ₹-2 Cr | ₹-1 Cr | ₹-9 Cr | ₹-2 Cr |
| Free cash flow | ₹-7 Cr | ₹-3 Cr | ₹-13 Cr | ₹-5 Cr |
| ROCE | 15.0% | 23.0% | 11.0% | 3.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹6 Cr | ₹11 Cr | ₹11 Cr | ₹11 Cr | ₹11 Cr | ₹11 Cr |
| Reserves | ₹27 Cr | ₹22 Cr | ₹30 Cr | ₹44 Cr | ₹118 Cr | ₹98 Cr |
| Borrowings | ₹11 Cr | ₹10 Cr | ₹7 Cr | ₹15 Cr | ₹24 Cr | ₹31 Cr |
| Other liabilities | ₹18 Cr | ₹24 Cr | ₹19 Cr | ₹25 Cr | ₹55 Cr | ₹49 Cr |
| Total liabilities | ₹62 Cr | ₹66 Cr | ₹68 Cr | ₹95 Cr | ₹207 Cr | ₹189 Cr |
| Fixed assets | ₹10 Cr | ₹10 Cr | ₹14 Cr | ₹22 Cr | ₹34 Cr | ₹27 Cr |
| Capital work in progress | ₹0 Cr | ₹1 Cr | ₹1 Cr | ₹3 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹4 Cr | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹79 Cr | ₹48 Cr |
| Other assets | ₹47 Cr | ₹53 Cr | ₹49 Cr | ₹67 Cr | ₹94 Cr | ₹114 Cr |
| Total assets | ₹62 Cr | ₹66 Cr | ₹68 Cr | ₹95 Cr | ₹207 Cr | ₹189 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters trimmed −25.05 pp while the public added +25.05 pp. The shareholder count grew 21% to 28,657.
- Promoters
- 41.6%
- FIIs
- 0.3%
- Public
- 58.1%
Since Jun 2025
- Promoters −25.05 pp
- Public +25.05 pp
- FIIs 0.00 pp
How it drifted, 12 quarters
Over this window promoters fell from 67.5% to 41.6% — −25.9 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 67.5%, Public 32.5%.Dec '23: Promoters 71.3%, Public 28.7%.Mar '24: Promoters 70.2%, Public 29.8%.Jun '24: Promoters 70.2%, Public 29.8%.Sep '24: Promoters 68.7%, FIIs 1.4%, Public 29.8%.Dec '24: Promoters 66.6%, FIIs 1.5%, Public 31.9%.Mar '25: Promoters 66.6%, FIIs 0.5%, Public 32.9%.Jun '25: Promoters 66.6%, FIIs 0.3%, Public 33.0%.Sep '25: Promoters 66.6%, FIIs 0.3%, Public 33.0%.Dec '25: Promoters 66.6%, FIIs 0.3%, Public 33.0%.Mar '26: Promoters 41.6%, FIIs 0.3%, Public 58.1%.Jun '26: Promoters 41.6%, FIIs 0.3%, Public 58.1%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Dev Information Technology Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Xduce Technologies Private Limited | 23.95% | unchanged |
| Pranav Niranjan Pandya HUF | 7.45% | unchanged |
| Amisha Jaimin Shah | 5.83% | unchanged |
| Jaimin Jagdishbhai Shah | 5.51% | unchanged |
| Kruti Pranav Pandya | 4.88% | unchanged |
| Lt1 Inc | 3.77% | unchanged |
| Sapna Vishal Vasu | 3.06% | unchanged |
| Vishal Vasu | 2.66% | unchanged |
| Prerak Pradyumna Shah | 2.44% | unchanged |
| Aarti Prerak Shah | 2.27% | unchanged |
| Jaimin Jagdishbhai Shah HUF | 1.47% | unchanged |
| Pravinaben Shah | 1.34% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (4)
Read the Q4 FY26 call →Learn to analyse Dev Information Technology Limited
Guides on how to read this kind of business and the numbers that matter.