BSE: 543848
Dev Labtech Venture Limited
Operates in the gems, jewellery and watches industry, with FY26 standalone revenue of Rs 5,929.78 lakh that grew 13% year-on-year but saw standalone profit after tax collapse 99.5% to Rs 0.61 lakh on sharply higher raw material costs. The main revenue driver in FY26 was the acquisition of a UAE-based trading subsidiary, Dev Labtech Trading FZCO, on 29 October 2025, which contributed over Rs 10,000 lakh to consolidated revenue and lifted consolidated revenue to Rs 16,718.13 lakh (up 219% YoY) and consolidated net profit to Rs 956.88 lakh. Materials dominate the cost structure at 111% of revenue, consistent with a trading-heavy business where input costs are largely passed through; employee costs are 1.3% and other operating expenses 6.7% of revenue. The company has amended its object clause to add food products (spices, beverages, packaged foods, dairy) and shipping/marine businesses (vessel operations, chartering, shipbuilding, port services) for future diversification. It raised a Rs 744.22 lakh term loan from SIDBI in FY26 and reported outstanding borrowings of Rs 2.30 crore as of 31 March 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Gems, jewellery and watches (standalone), UAE trading subsidiary (Dev Labtech Trading FZCO), Food products and shipping/marine. Trading-heavy consumer durables with thin standalone margins and recent UAE-driven consolidation
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 52 | 167 |
| EBITDA (ex other income) | 2 | 10 |
| margin % | 3.7 | 6.0 |
| Owners' profit | — | — |
| EPS, as reported (₹) | 1.62 | 8.10 |
| ROE % · ROCE % | — · 4.6 | — · 18.6 |
| Debt / equity (x) | — | — |
| Cash from operations | (13) | (2) |
| Capex | (0) | (0) |
Exhibit 2: Quarterly performance, last 3 quarters
| ₹ crore | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|
| Revenue | 33 | 49 | 118 |
| Profit before tax | 1 | 0 | 10 |
| Net profit | — | — | — |
| EPS (₹) | 0.47 | 0.29 | 7.78 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| KHAZANCHI JEWELLERS LTD | 1,767 | 12.4 | 5.53 | — | 28.0 | 37.7 | — | 6.7 |
| UDAY JEWELLERY INDS. LTD. | 712 | 26.9 | 3.43 | — | 17.2 | 23.1 | — | 6.6 |
| PNGS GARGI FASHION JEWELLERY L | 561 | 11.9 | 3.56 | — | — | — | — | 23.8 |
| KD GREEN INDUSTRIES LTD | 273 | 17.3 | 3.79 | 35.5 | 7.0 | 8.6 | — | 15.9 |
| GOLKUNDA DIAMONDS & JEWELLERY | 260 | 38.3 | 2.73 | — | 12.5 | 15.3 | — | 11.2 |
| AJC Jewel Manufacturers Limite | 209 | 50.1 | — | — | — | 28.7 | — | 4.4 |
| ASHAPURI GOLD ORNAMENT L | 200 | 10.2 | 1.11 | — | 7.0 | 9.4 | — | 12.2 |
| Patdiam Jewellery Limited | 147 | 8.8 | — | — | — | 24.6 | — | 8.9 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 3.1 | 11.9 | 7 of 45 | 86% |
| ROCE | 18.4 | 3.2 | 10 of 36 | 74% |
| EBITDA margin | 8.2 | 2.3 | 13 of 46 | 73% |
| Market cap | 31 | 25 | 25 of 54 | 55% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 6 Nov 2026 · No quarterly split; consolidated half-year revenue Rs 15,517 lakh and profit after tax Rs 904 lakh | results | high | — | — |
| 6 Nov 2026 · H1 FY27 profit jumps on consolidated sales; preferential warrants approved | board shareholder meetings | low | — | — |
| 5 Nov 2026 · Shareholders approve preferential issue of 1.37 crore convertible warrants | fund raising | high | — | — |
| 5 Nov 2026 · Authorised capital increased by 24% to Rs 31 crore | corporate actions | medium | — | — |
| 5 Nov 2026 · EGM approves capital increase and convertible warrants | board shareholder meetings | low | — | — |
| 5 Nov 2026 · EGM considers capital increase and convertible warrant issue | board shareholder meetings | low | — | — |
| 30 Oct 2026 · Board to approve half-year results on 6 November 2026 | board shareholder meetings | low | — | — |
| 13 Oct 2026 · RTA confirms demat processing for September 2026 quarter | compliance | minimal | — | — |
| 13 Oct 2026 · EGM notice and e-voting information published in newspapers | compliance | minimal | — | — |
| 12 Oct 2026 · EGM on Nov 5 for share capital hike and Rs 17.81 cr warrants issue | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.