Dev Information Technology Approves FY26 Audited Results, Recommends 5% Dividend, Divests 25% Stake
Dev Information Technology Limited's Board approved FY26 audited results and recommended a 5% final dividend. The company will divest 25% of its subsidiary, Dhyey Consulting Services, to Unique Comp, Inc. for ₹4.60 Crores. M/s. Manav Sheth and Company was re-appointed as Internal Auditor for FY27.
The financial results and dividend recommendation are routine positive updates. The divestment of a subsidiary stake for a significant amount impacts the company's structure and financial position, warranting a medium impact.
The approval of audited financial results, recommendation of a dividend, and strategic divestment at a considerable value contribute to a positive sentiment.
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. The statutory auditors, M/s. Rinkesh Shah & Co., issued an unmodified opinion on these financial statements.
The company's 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 Board approved the re-appointment of M/s. Manav Sheth and Company as the Internal Auditor for the financial year 2026-27.
In a significant strategic move, the company also approved the divestment of a 25% equity stake in its wholly-owned subsidiary, M/s. Dhyey Consulting Services Private Limited, to M/s. Unique Comp, Inc. for an aggregate consideration of ₹4.60 Crores (INR 4,60,00,000). This transaction, executed via a Share Purchase Agreement dated 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 conducted at an arm's length basis, as per an independent valuation report.
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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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