Under Rs 120: Smallcap IT Company Secures Rs 97,00,000 Order from GSFC, a PSU Company!

This small-cap IT company has secured a Rs 97 lakh order from GSFC, a government undertaking.

Incorporated in 1997, This Small-Cap company specializes in IT-enabled services. As a leading Technology Solutions Provider, DEVIT focuses on Digital Transformation through Cloud, Automation, and Data technologies.

Recently, Dev Information Technology Ltd secured a significant contract valued at approximately 97 lakhs from Gujarat State Fertilizers & Chemicals Limited (GSFC), a Gujarat government undertaking. This order involves managing the Network Operating Centre (NOC) at GSFC. The contract will enhance the management and maintenance of GSFC's email system, ensuring reliable and seamless email operations, as well as optimize the Active Directory Solution for effective management of AD and RODC servers at GSFC.

On Wednesday, the shares of Dev Information Technology Ltd closed at around Rs 118.30 per share on the BSE. The company’s current market capitalization stands at Rs 265.99 crore.

As per the Quarterly Results, in Q1 FY25, Dev Information Technology Ltd recorded a revenue of Rs 35.46 crore compared to Rs 60.46 crore same quarter last year. The operating profit stood at Rs 5.79 crore. The net profit stood at Rs 3.71 crore compared to a profit of Rs 1.83 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 small-cap company on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.