Dev Information Technology Limited — Q4 FY26
Dev IT reported Q4 FY26 consolidated total income of ₹56 cr (+8.1% YoY), with EBITDA surging 68.5% to ₹5.04 cr and margin expanding 322 bps to 8.99%.
neutral
medium
✓ Verified against BSE filing
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
88%Questions answered0Evaded / deflected12Questions auditedContradictedNumbers vs filing
Answered
High priority
Strategic benefits from XDS acquiring 24% stake in DEIT
Asked by Summit Takur, SKP Securities
Management clearly explained the strategic rationale for the acquisition.
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Question
So XDS which has acquired around 24% stake in DEIT. So what are the strategic benefits that have like started following this part let's say?
Management (likely CEO, name not stated)
we want to have our on-site presence so that we can have on-site and off-site hybrid business strength as well as we can acquire more enterprise level customers from North America and UK region.
Answered
High priority
Revenue opportunities from XDS partnership over next two years
Asked by Summit Takur, SKP Securities
Management provided specific revenue projections for the partnership.
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Question
So like what are the revenue opportunities that you expect from this partnership for over like for next two years?
Management
this year we are expecting around 1 to 2 million business from excuse and from next year FY27 we are expecting around 3 to 5 million business and that will grow 15 to 20% beyond year.
Answered
High priority
Revenue split between XDS and Dev Information for joint deals
Asked by Summit Takur, SKP Securities
Management gave a clear 80/20 revenue split.
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Question
how will the contract stand so the revenue that is being generated what will be the split and how the deal will go.
Management
all non India thing will be frontended by exuse and the entire offshore development will be done by the mhm so split will be you can say 2080 so 80% comes to the 20% comes remains with
Answered
High priority
What changed in last two years to enable growth after three decades
Asked by Rupin Meta, Individual Investor
Management explained the strategic shift towards enterprise and overseas clients.
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Question
our company has been in the business nearly three decades. So what has changed in last two years that makes you believe that the company can enter into different growth territory?
Management
we have to have enterprise lead and that too overseas clients and without having on-site presence it was very difficult for us to grow from a level to B level and that is how this entire integration going to helped us to grow.
Partial answer
Medium priority
How many competitors have all six Microsoft designations and win rate impact
Asked by Rupin Meta, Individual Investor
Management gave competitor percentage but did not quantify win rate improvement.
no win rate data provided
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Question
How many competitors in our size category have this distinction and how does it improve our win rate in last deals?
Management
when I saw on asked chat equity in North America it was around 5% of total Microsoft partner ecosystem they have achieved around all these six competencies so that's a uniqueness
Partial answer
Medium priority
Percentage of outcome-based vs managed service vs traditional projects
Asked by Rupin Meta, Individual Investor
Management gave managed service percentage but not outcome-based.
did not specify outcome-based percentage
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Question
what percentage of our projects are now outcome based or managed service contract versus traditional manor based management?
Management
traditional man power base is extremely low I can say it's in some digit but as far as manage it is concerned we are around 27% of our total revenue
Partial answer
Medium priority
Average deal size trends over last three years
Asked by Rupin Meta, Individual Investor
Management gave current deal size but not trends over three years.
no trend data provided
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Question
can you share the average deal size trends over the last three years any clients our clients been us the larger mindsets before.
Management
I don't have that data up front. But it's around $80,000 to $100,000 deal size and that too for at least two years of contract.
Answered
High priority
What is holding back revenue growth (only 5% in FY26)
Asked by Venode Cha, BS Ventures
Management explained the strategic pause and focus on India market.
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Question
our revenue growth in FY26 was just around 5%. So what is holding our growth back in terms of revenue?
Management
we have made it very clear that we will focus for revenue growth from India market and if at all geopolitical situation is good then we'll achieve more from export business.
Answered
Medium priority
Which business vertical contributed most revenue in FY26
Asked by Venode Cha, BS Ventures
Management provided specific vertical and geographic breakdown.
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Question
which vertical contributed revenue in FY26?
Management
our India market gave 67% of revenue as is very significant and when it comes to technology our cloud and blockchain business unit gave more revenue from this 67%.
Answered
High priority
Revenue growth target for FY27 and FY28
Asked by Venode Cha, BS Ventures
Management gave specific revenue target and growth rate.
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Question
what is the revenue growth target for fy 27 and the next financial year FYI 28.
Management
we are expecting around 200 cr worth of revenue for current year and next year we are expecting around 15 to 20% growth from current year.
Answered
High priority
Reasons for margin decline despite revenue growth
Asked by Parag Ventures
Management provided specific reasons including exceptional income and market mix.
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Question
margins declined significantly at the fullear level despite revenue growth. can you tell what are the key reasons sir?
Management
last year there were exceptional income of around 13 cr which is not there this year it was around 4 cr that is one. Second thing we focused mainly on India market where margins were low.
Answered
High priority
Rationale for transferring product to Bytechnos instead of scaling within
Asked by Sanadeshmok, FX Capital
Management explained the strategic rationale for the spin-off.
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Question
What was the process behind transferring by signal and to by technos instead of continuing to scale them within its
Management
the product business requires lots of investment not only into developing the product but also marketing the product and that is also attracting lots of cash from the system and that is also creating lower aida for day.
Quantitative claims vs filed numbers
| Claim | Management said | Filing | Verdict |
|---|---|---|---|
| Revenue target for FY27 is 200 crore | ₹200 cr | ₹53.87 cr | Overstated vs filing |
| Revenue growth target for FY28 is 15-20% | 15% | 8.1% | Overstated vs filing |
Filed figures sourced from Screener.in. Claims within a small tolerance of the filing are marked “matches filing”.