Dev Information Technology Ltd (DEVIT) AI Stock Analysis

• Market Cap: ₹2.16B
• Dividend Yield: 0.52%
• Average Volume (3M): 8.32K
• Price to Earnings (P/E): 16.0
• Beta (1Y): 1.42
• Revenue Growth: 28.58%
• EPS Growth: 21.00%
• Country: IN
• Employees: 971
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): 0.37
• Shares Outstanding: 56,335,230
• 10 Day Avg. Volume: 6,354
• 30 Day Avg. Volume: 8,323
• PEG Ratio: 0.30
• Price to Book (P/B): 3.79
• Price to Sales (P/S): 1.53
• P/FCF Ratio: -16.63
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹46.00
• Price Target Upside: 20.48% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 62 Neutral
• Price Target: ₹46.00 ▲(20.48% Upside)

The overall stock score of 62 reflects solid financial performance with strong revenue growth and profitability, but is tempered by cash flow challenges and rising leverage. Technical indicators suggest a bearish trend, while valuation metrics are fair but not compelling.

Dev Information Technology Ltd Business Overview & Revenue Model

Company Description

Dev Information Technology Ltd (DEVIT) is a leading technology solutions provider specializing in software development, IT consulting, and digital transformation services. The company operates across various sectors, including finance, healthcare, and education, delivering innovative solutions that help businesses optimize their operations and enhance customer engagement. DEVIT's core offerings include custom software development, cloud services, and enterprise resource planning (ERP) systems, positioning it as a trusted partner for organizations seeking to leverage technology for competitive advantage.

How the Company Makes Money

DEVIT generates revenue primarily through a diversified model that includes project-based contracts for software development and consulting services. The company charges clients on a time-and-materials basis or fixed-price contracts, depending on the project scope and client needs. Additionally, DEVIT earns recurring revenue through maintenance and support services for its software products, along with subscription fees for cloud-based solutions. The company has established strategic partnerships with leading technology firms, which enhance its service offerings and expand its customer base. These collaborations often lead to joint projects that contribute significantly to DEVIT's revenue stream, alongside direct sales from its proprietary software products.

Dev Information Technology Ltd Financial Statement Overview

Summary

Dev Information Technology Ltd shows strong revenue growth and improved profitability, supported by a stable balance sheet. However, challenges with cash flow management and rising leverage pose risks that need addressing.

Income Statement

Dev Information Technology Ltd has demonstrated strong revenue growth with a notable increase in total revenue over the past years, indicating a positive growth trajectory. The net profit margin has improved significantly, reflecting better cost management and operational efficiency. However, there is room for improvement in gross profit margin, which has shown some volatility.

Balance Sheet

The company maintains a stable equity ratio, suggesting a well-capitalized balance sheet. The debt-to-equity ratio remains moderate but has been increasing, indicating a potential risk if leverage continues to rise. Return on equity has improved, which is a positive indicator of profitability.

Cash Flow

Cash flow analysis reveals challenges with negative operating cash flows in recent years, which could affect liquidity if not addressed. However, free cash flow has shown some recovery in earlier periods, suggesting the potential for future improvement. The company needs to focus on enhancing cash flow generation to support ongoing operations.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.78B	1.71B	1.63B	1.24B	997.49M	843.80M
Gross Profit	167.43M	160.83M	197.53M	121.61M	106.99M	80.49M
EBITDA	217.89M	237.18M	153.11M	138.93M	59.06M	32.53M
Net Income	134.46M	148.73M	92.88M	89.75M	1.34M	-3.20M
Balance Sheet
Total Assets	0.00	1.22B	954.86M	677.40M	664.81M	629.74M
Cash, Cash Equivalents and Short-Term Investments	19.05M	23.34M	65.07M	24.96M	88.33M	78.38M
Total Debt	0.00	199.84M	145.80M	72.93M	96.32M	111.05M
Total Liabilities	-687.63M	533.35M	372.02M	261.33M	337.02M	288.95M
Stockholders Equity	687.63M	686.22M	554.51M	415.46M	327.86M	338.81M
Cash Flow
Free Cash Flow	0.00	-156.49M	-27.84M	-74.13M	32.30M	50.41M
Operating Cash Flow	0.00	-110.96M	-7.92M	-16.48M	47.73M	56.52M
Investing Cash Flow	0.00	48.28M	-21.05M	-6.49M	-10.93M	-3.66M
Financing Cash Flow	0.00	47.71M	38.01M	-43.32M	-21.33M	-1.72M

Dev Information Technology Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 38.18
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DEVIT, the sentiment is Negative. The current price of 38.18 is below the 20-day moving average (MA) of 40.49, below the 50-day MA of 42.64, and below the 200-day MA of 47.47, indicating a bearish trend. The MACD of -1.12 indicates Positive momentum. The RSI at 31.88 is Neutral, neither overbought nor oversold. The STOCH value of 5.89 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:DEVIT.

Dev Information Technology Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DRCSYSTEMS	72 Outperform	₹2.55B	16.15	―	―	22.13%	7.44%
GOLDTECH	64 Neutral	₹2.97B	12.75	―	―	-2.10%	―
DEVIT	62 Neutral	₹2.16B	16.04	―	0.52%	28.58%	21.00%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
RSSOFTWARE	61 Neutral	₹1.81B	325.86	―	0.36%	-31.06%	-97.39%
TRIGYN	59 Neutral	₹2.40B	21.11	―	―	-26.70%	-102.94%
XELPMOC	50 Neutral	₹1.89B	―	―	―	-19.09%	48.94%

Dev Information Technology Ltd Corporate Events

Dev Information Technology Ltd Announces Equity Share Sub-Division

Dev Information Technology Ltd has announced a newspaper publication regarding the notice of record date for the sub-division of equity shares. This announcement is part of their compliance with SEBI’s listing regulations and is aimed at informing stakeholders about the upcoming changes in the company’s equity structure. The sub-division of shares is expected to enhance the liquidity of the company’s shares and potentially attract more investors.