Dev Information Technology Ltd (DEVIT) AI Stock Analysis

• Market Cap: ₹1.70B
• Dividend Yield: 0.49%
• Average Volume (3M): 6.40K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.45
• Revenue Growth: 30.15%
• EPS Growth: 330.45%
• Country: IN
• Employees: 971
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): -1.29
• Shares Outstanding: 56,363,716
• 10 Day Avg. Volume: 4,420
• 30 Day Avg. Volume: 6,401
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 54 Neutral
• Price Target: ₹31.00 ▼(-23.02% Downside)
• Action: Reiterated Date: 03/05/26
• Date: Action: Reiterated 03/05/26

The score is primarily held back by weak technicals (downtrend across major moving averages with bearish momentum) and cash-flow concerns (negative operating cash flows). These are partly balanced by improving profitability and revenue growth, while valuation support is limited due to a negative P/E and only a modest dividend yield.

Positive Factors

Sustained Revenue Growth

Consistent mid-teens revenue growth indicates expanding client adoption and market penetration in IT services. Over a 2-6 month horizon this supports recurring project pipelines, strengthens negotiating leverage with clients, and underpins scale benefits across delivery and sales functions.

Negative Factors

Negative Operating Cash Flow

Persistent negative operating cash flows signal difficulty converting accounting profits into cash. This undermines liquidity and forces reliance on external financing or working-capital tradeoffs, creating structural risk for funding growth or absorbing demand shocks over the medium term.

Dev Information Technology Ltd Business Overview & Revenue Model

Company Description

Dev Information Technology Limited provides information technology enabled services in India. The company offers enterprise resource planning and customer relationship management applications, and application development solutions; and enterprise ...

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Dev Information Technology Limited provides information technology enabled services in India. The company offers enterprise resource planning and customer relationship management applications, and application development solutions; and enterprise ...

How the Company Makes Money

Dev Information Technology Ltd generates revenue through a diversified model, primarily from its IT consulting and services offerings. The company earns income by providing enterprise-grade technology solutions, IT infrastructure management, softw...

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Dev Information Technology Ltd generates revenue through a diversified model, primarily from its IT consulting and services offerings. The company earns income by providing enterprise-grade technology solutions, IT infrastructure management, softw...

Dev Information Technology Ltd Financial Statement Overview

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 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: Positive
• Last Price: 40.27
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DEVIT, the sentiment is Positive. The current price of 40.27 is above the 20-day moving average (MA) of 27.00, above the 50-day MA of 27.48, and above the 200-day MA of 37.67, indicating a neutral trend. The MACD of 0.66 indicates Negative momentum. The RSI at 58.60 is Neutral, neither overbought nor oversold. The STOCH value of 74.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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	66 Neutral	₹2.35B	11.60	―	―	20.62%	1.68%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
TRIGYN	59 Neutral	₹1.77B	74.37	―	―	-16.31%	-9.79%
DEVIT	54 Neutral	₹1.70B	-6.20	―	0.49%	30.15%	330.45%
GOLDTECH	54 Neutral	₹2.17B	4,143.38	―	―	18.44%	-32.39%
RSSOFTWARE	40 Underperform	₹879.81M	-3.84	―	0.46%	-52.09%	-142.64%
XELPMOC	40 Underperform	₹1.61B	-23.81	―	―	-30.22%	25.16%

Dev Information Technology Ltd Corporate Events