Dev Information Technology Approves 5% Dividend, Divests 25% Stake in Subsidiary for ₹4.6 Crore
Dev Information Technology Limited approved its Q4 and FY26 financial results. The Board recommended a 5% final dividend (₹0.10 per share). The company will divest 25% of its stake in Dhyey Consulting Services Private Limited for ₹4.6 crore to Unique Comp, Inc. M/s. Manav Sheth and Company was re-appointed as Internal Auditor.
The dividend recommendation and financial results approval are positive for shareholders. The divestment of a subsidiary stake, while strategic, reduces full ownership and may have a moderate impact on future consolidated financials and group structure.
The announcement is positive due to the approval of financial results, recommendation of a dividend, and a strategic divestment for a significant sum, along with the re-appointment of internal auditors.
Dev Information Technology Limited announced the outcome of its Board Meeting held on May 28, 2026. The Board approved the Standalone and Consolidated Audited Financial Results for the Quarter and Year ended March 31, 2026, with an unmodified opinion from the Statutory Auditors, M/s. Rinkesh Shah & Co.
The Board recommended a final dividend of 5% (₹0.10 per equity share) for the financial year ended March 31, 2026, subject to shareholder approval at the upcoming Annual General Meeting.
Furthermore, the company approved the divestment of a 25% equity stake in its wholly-owned subsidiary, Dhyey Consulting Services Private Limited, to M/s. Unique Comp, Inc. for an aggregate consideration of ₹4.60 crore (460 Lakhs). This transaction, executed via a Share Purchase Agreement on May 28, 2026, will result in Dhyey Consulting Services Private Limited ceasing to be a wholly-owned subsidiary but remaining a subsidiary of Dev Information Technology Limited. The transaction is expected to be completed within 5 months of the SPA execution and is not considered a related party transaction, being conducted at arm's length based on an independent valuation report.
The Board also reviewed and approved the re-appointment of M/s. Manav Sheth and Company as the Internal Auditor for the financial year 2026-27.
The Board Meeting commenced at 5:00 p.m. IST and concluded at 06:45 p.m. IST.
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Dev Information Technology Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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