Under Rs 200: Micro-Cap Company Achieves Key Milestones on Foundation Day, Secures Major USA Contracts – FIIs Bought 1.45 Per cent Stake in Q2FY25!
The company’s shares have delivered a return of over 45 per cent in the past 6 months.
Dev Information Technology Ltd, a global IT and ITeS company specializing in Cloud Services, Digital Transformation, Enterprise Applications, and Managed IT Services, celebrated its Foundation Day with significant achievements.
The company, headquartered in Ahmedabad with a presence in India and Canada, secured three major contracts through its Cloud Business Unit, reflecting its expertise and innovation.
- Healthcare Sector Project: DEV IT will migrate 2,300 SAP BO reports to Power BI for a USA-based healthcare client. The project begins with a detailed discovery phase to ensure a smooth transition, paving the way for future migrations.
- Energy Sector Contract: A 9-month contract has been awarded to create Power BI dashboards for a USA energy client, focusing on Employee Information, Payroll Analytics, and Financial Metrics. This follows the success of a paid proof-of-concept, demonstrating the company’s data visualization expertise.
- Nutrition Sector Initiative: The company has initiated a discovery phase for a centralized subscription management platform using Chargebee. This involves assessing three existing portals and devising an implementation plan in collaboration with other vendors.
These contracts highlight DEV IT’s ability to deliver tailored solutions and strengthen its position across diverse industries. The company also offers a range of proprietary products, including Talligence (an analytics platform) and ByteSigner (a digital signing solution).
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
With a reported total income of ₹94.55 crore, EBITDA of ₹32.14 crore, and PAT of ₹13 crore in FY24, DEV IT continues to drive digital transformation globally. Its commitment to innovation, quality, and client satisfaction underscores its leadership in the IT services sector.
On Tuesday, the shares of Dev Information Technology Ltd are trading at around Rs 167.55 per share on the BSE. The company’s current market capitalization stands at Rs 376.73 crore.
As per the Quarterly Results, in Q2 FY25, Dev Information Technology Ltd recorded a revenue of Rs 35.94 crore compared to Rs 27.95 crore same quarter last year. The company reported an operating loss of Rs 1.08 crore. The net profit stood at Rs 8.11 crore compared to a profit of Rs 1.66 crore last year same quarter. Looking at the annual performance, the company generated a revenue of Rs 164 crore in FY24. The operating profit for FY24 was Rs 14 crore with a net profit of Rs 9 crore compared to a net profit of Rs 9 crore in FY23.
Investors must keep this micro-cap company on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.