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Dev Information Technology Ltd
(DEVIT)
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Rating:59Neutral
Price Target:
₹19.50
▼(-51.58% Downside)
Action:Reiterated
Date:10/22/26
The score is anchored by strong valuation support (very low P/E), but is held back by weak financial quality—especially multi-year negative operating/free cash flow and volatile, potentially non-repeatable FY2026 earnings. Technically, the stock remains in a pronounced downtrend with bearish momentum despite oversold readings.
Positive Factors
Revenue Expansion
Multi-year revenue expansion indicates that Dev Information Technology has continued to win and deliver technology work across its target markets. Sustained top-line growth can support investment in talent and capabilities, strengthen customer relevance, and provide a foundation for future operating improvement.
Negative Factors
Persistent Negative Cash Flow
Several consecutive years of negative operating and free cash flow weaken the quality of reported growth and reduce the company’s ability to self-fund expansion. Continued cash underperformance could require external capital, constrain investment, and make the business more vulnerable to execution or collection pressure.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Expansion
Multi-year revenue expansion indicates that Dev Information Technology has continued to win and deliver technology work across its target markets. Sustained top-line growth can support investment in talent and capabilities, strengthen customer relevance, and provide a foundation for future operating improvement.
Read all positive factors
Dev Information Technology Ltd (DEVIT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.06B
Dividend Yield0.54%
Average Volume (3M)5.35K
Price to Earnings (P/E)1.4
Beta (1Y)1.44
Revenue Growth6.99%
EPS Growth462.47%
CountryIN
Employees1,083
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)13.41
Shares Outstanding56,987,660
10 Day Avg. Volume3,340
30 Day Avg. Volume5,350
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.20
Price to Sales (P/S)0.69
P/FCF Ratio-6.97
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Dev Information Technology Ltd Business Overview & Revenue Model
Company Description
Dev Information Technology Limited provides information technology enabled services in India, Europe, and internationally. The company offers cloud services, including cloud advisory, cloud application modernization, managed cloud, enterprise devO...
How the Company Makes Money
DEVIT primarily makes money by charging clients for IT services delivered under contractual engagements. Key revenue streams typically include (1) project-based software development and implementation fees, where the company is paid for defined-sc...
Dev Information Technology Ltd Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
72
Positive
Cash Flow
26
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.91B | 1.90B | 1.71B | 1.63B | 1.24B | 997.49M |
| Gross Profit | 158.93M | 126.45M | 160.83M | 200.35M | 121.61M | 106.99M |
| EBITDA | 1.01B | 1.01B | 237.18M | 153.11M | 138.93M | 59.06M |
| Net Income | 757.37M | 757.79M | 148.73M | 92.88M | 89.75M | 1.34M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 1.89B | 1.22B | 954.86M | 677.40M | 664.81M |
| Cash, Cash Equivalents and Short-Term Investments | 62.27M | 62.27M | 19.04M | 34.00M | 24.96M | 88.33M |
| Total Debt | 0.00 | 306.13M | 199.84M | 145.80M | 72.93M | 96.32M |
| Total Liabilities | -1.09B | 795.98M | 533.35M | 372.02M | 261.33M | 337.02M |
| Stockholders Equity | 1.09B | 1.09B | 686.22M | 554.51M | 415.46M | 327.86M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -188.25M | -156.49M | -27.84M | -74.13M | 32.30M |
| Operating Cash Flow | 0.00 | -45.17M | -110.96M | -7.92M | -16.48M | 47.73M |
| Investing Cash Flow | 0.00 | -13.47M | 48.28M | -21.05M | -6.49M | -10.93M |
| Financing Cash Flow | 0.00 | 101.36M | 47.71M | 38.01M | -43.32M | -21.33M |
Dev Information Technology Ltd Technical Analysis
Negative
40.27
Price Trends
22.34
Negative
24.84
Negative
27.02
Negative
Market Momentum
-1.24
Positive
29.32
Positive
27.87
Neutral
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 40.27 is above the 20-day moving average (MA) of 19.64, above the 50-day MA of 22.34, and above the 200-day MA of 27.02, indicating a bearish trend. The MACD of -1.24 indicates Positive momentum. The RSI at 29.32 is Positive, neither overbought nor oversold. The STOCH value of 27.87 is Neutral, 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
59 Neutral | ₹1.06B | 1.38 | ― | 0.54% | 6.99% | 462.47% | |
57 Neutral | ₹1.53B | 15.19 | ― | 0.51% | 14.22% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | ₹1.20B | -1.27 | ― | 3.03% | -61.40% | -12541.12% | |
49 Neutral | ₹1.19B | -14.71 | ― | ― | -1.09% | -13.38% | |
43 Neutral | ₹912.08M | -37.77 | ― | ― | -73.73% | 99.90% |
* General Sector Average
IN:DEVIT
Dev Information Technology Ltd
18.61
-21.24
-53.30%
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GVP Infotech Ltd
6.59
-2.66
-28.74%
IN:TRIGYN
Trigyn Technologies Limited
49.62
-27.35
-35.53%
IN:VLEGOV
VL E-Governance & IT Solutions Ltd.
8.41
-15.06
-64.17%
IN:XELPMOC
Xelpmoc Design And Tech Ltd
80.07
-54.35
-40.43%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.