Dev Information Technology Surges Over 7% After Securing Key Rajya Sabha Secretariat Order
IT Stock Rises After Winning Government Contract
Dev Information Technology Surges : Shares of Dev Information Technology Limited surged by over 7.5% on Friday’s trading session after the company announced a major work order from the Rajya Sabha Secretariat. The stock gained momentum following the announcement, reflecting strong investor confidence in the company’s growing involvement in e-governance projects.
Stock Price Movement
At 02:26 p.m., the company’s shares were trading at ₹131.55, up nearly 5% from the previous closing price of ₹125.5. The stock, which has a market capitalization of ₹296.4 crores, saw a strong uptick as market participants responded positively to the latest order win.
Despite the recent surge, the stock has delivered negative returns of nearly 8% in the past year. However, the stock has gained approximately 24% in the past month, indicating renewed investor interest.
New Work Order from Rajya Sabha Secretariat
As per recent filings with the stock exchanges, Dev Information Technology Limited has secured a significant work order from the Rajya Sabha Secretariat for the development of application software and a website.
The contract, valued at ₹1.48 crores, includes:
✔ Design, development, and implementation of application software and a website.
✔ Maintenance services for the project over an estimated nine-month period.
Among multiple empanelled companies under the National Informatics Centre (NIC) in Delhi, Dev Information Technology was chosen after a thorough evaluation process.
This project strengthens the company’s presence in the e-governance sector and reinforces its credibility, potentially unlocking more government contracts in the future.
Recent Order Wins & Business Growth
Dev Information Technology has been actively expanding its portfolio with key contract wins across different sectors.
📌 February 3rd:
The company secured two major cybersecurity contracts from an existing USA-based enterprise client, contributing an annual revenue of $250,000 (~₹2 crores). These contracts include:
🔹 Compliance Guidance services
🔹 24×7 Managed SOC (Security Operations Center) Services
📌 February 13th:
The company bagged a ₹1.92 crore contract from Gujarat Energy Development Agency (GEDA). The project involves:
🔹 Scanning and digitizing physical document records
🔹 Developing a web-based Document Management System (DMS) software for GEDA’s Gandhinagar office
Financial Performance
Dev Information Technology has demonstrated strong revenue growth over the past year.
| Financial Metric | Q3 FY24 | Q3 FY25 | YoY Growth |
|---|---|---|---|
| Revenue from Operations | ₹31.7 Cr. | ₹47.7 Cr. | +50.5% |
| Net Profit | ₹1.7 Cr. | ₹1.82 Cr. | +7% |
The company has maintained profitability, although quarterly profit variations indicate a YoY increase of 1.76% but a QoQ decline of 77.6%.
Key Financial Ratios & Stock Data
| Metric | Value |
|---|---|
| Market Cap | ₹287 Cr. |
| Current Price | ₹127 |
| 52-Week High / Low | ₹191 / ₹94 |
| Stock P/E | 16.4 |
| Book Value | ₹29.1 |
| Dividend Yield | 0.19% |
| ROCE (Return on Capital Employed) | 22.8% |
| ROE (Return on Equity) | 19.2% |
| Debt to Equity Ratio | 0.38 |
| Price to Earnings (P/E) | 16.4 |
| Pledged Percentage | 0.00% |
| Quarterly Profit Variation | 1.76% |
| Industry P/E | 33.2 |
| Graham Number (Fair Value Estimate) | ₹71.9 |
| Intrinsic Value | ₹118 |
| Relative Strength Index (RSI) | 37.8 |
| Earnings Per Share (EPS) | ₹7.91 |
| 200-Day Moving Average (DMA) | ₹144 |
| Free Cash Flow (Last 3 Years) | ₹-5.93 Cr. |
| Free Cash Flow (Latest Year) | ₹-2.78 Cr. |
| Total Debt | ₹24.8 Cr. |
About Dev Information Technology
Founded in 1997, Dev Information Technology Limited is a leading IT services provider, offering a comprehensive range of digital solutions. The company specializes in:
✔ Cloud services
✔ Digital transformation
✔ Enterprise applications
✔ Managed IT services
✔ Application development
Notable Products:
📌 Talligence – A business analytics tool that transforms Tally accounting data into actionable insights.
📌 ByteSIGNER – A bulk document signing solution designed for businesses.
With a strong track record in e-governance and digital transformation, the company is well-positioned to expand further into both domestic and international markets.
Final Thoughts
Dev Information Technology’s latest contract with the Rajya Sabha Secretariat reinforces its growing reputation in the government IT sector. The company’s recent order wins, combined with robust financial growth, indicate strong future prospects.
While the stock has seen volatility in the past year, the recent price surge suggests that investors are optimistic about the company’s expansion into new markets. Given the company’s positive financial trajectory and increasing presence in government projects, Dev Information Technology remains a stock to watch in the IT and e-governance space.
For more market insights, follow our news.
Stay tuned for more updates and insights on the stock market! For more insights on investing in the Indian stock market, check out resource like ET, NSE India.
Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.