Outcome of the board meeting
DEVIT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Dev Information Technology Limited reported strong audited financial results for FY26 ended March 31, 2026. Standalone revenue grew 7.5% to Rs. 16,197.93 Lakhs from Rs. 15,062.94 Lakhs, while consolidated revenue increased 11% to Rs. 18,950.06 Lakhs. Profit after tax surged approximately 381% on standalone basis to Rs. 7,424.06 Lakhs and 411% on consolidated basis to Rs. 7,559.52 Lakhs. However, this exceptional profit growth was largely driven by a one-time exceptional item of Rs. 9,236.13 Lakhs (standalone) from DevAccelerator Limited's IPO gain. Without this exceptional item, underlying profit growth would be significantly lower. The Board recommended a final dividend of Rs. 0.10 per share (5% on face value of Rs. 2). Additionally, the company approved sale of 25% stake in subsidiary Dhyey Consulting Services Private Limited to Unique Comp, Inc for Rs. 4.60 Crores, and sale of ByteSIGNER and Talligence products to associate ByteTechnosys Private Limited for Rs. 11.85 Crores. Statutory auditors issued unmodified opinion on the financial statements.
The massive PAT growth is inflated by a one-time exceptional gain from DevAccelerator's IPO; underlying operational performance shows modest growth. The company is restructuring its subsidiary holdings and divesting non-core products to an associate, which may raise related party transaction concerns for shareholders.