IT stock engaged in the business of providing IT-enabled services leveraging Cloud, Automation, and Data technologies jumped upto 15 percent in the day’s trade upon declaring a stock split of equity shares of the company and receiving a work order worth Rs. 84.5 Lakhs.
Price Action
With a market capitalization of Rs. 405 Crores, the shares of Dev Information Technology Limited were trading at Rs. 179.25 per equity share, up 11.61 percent from its previous day’s close price of Rs. 160.60.
What Happened
The Board of Directors of Dev Information Technology Limited has considered and approved the split of equity shares of the company, where one equity share with a face value of Rs. 5 will be split into such number of shares having a face value of Rs. 2 as on the record date.
In Addition, Dev Information Technology Limited has received a new work order from Bhavnagar Municipal Corporation for the Annual Maintenance and New development Contract of the Online Property Tax System for a consideration of Rs. 84.5 Lakhs and it is to be executed within 3-4 years.
About the Company
Dev Information Technology Limited is an IT-enabled Technology Solutions Provider that delivers Digital Transformation leveraging Cloud, Automation, and Data technologies.
It offers a comprehensive end-to-end range of services, including Cloud Services, Digital Transformation, Enterprise Applications, Managed IT Services, and Application Development. Its products comprise Talligence, an analytics platform, and ByteSigner, a digital signing solution. Financials & Ratios.
Financials and Ratios
Its revenue from operations grew by 28.59 percent from Rs. 27.95 Crores in Q2FY24 to Rs. 35.94 Crores in Q2FY25, accompanied by profits of Rs. 1.66 Crores to Rs. 8.11 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 19.2 percent, and a return on capital employed (ROCE) of 22.8 percent. It has reported a debt-to-equity ratio of 0.38.
Written by: Bharath K.S
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