Dev Information Technology Approves FY26 Audited Results, Recommends 5% Dividend & Divests 25% Stake
Dev Information Technology Limited approved its FY26 audited financial results. The Board recommended a 5% final dividend and approved the divestment of a 25% stake in its subsidiary, Dhyey Consulting Services, for ₹4.60 crore. M/s. Manav Sheth and Company was reappointed as Internal Auditor.
The divestment of a subsidiary stake and dividend payout are material events that can impact the company's financial structure and shareholder returns.
The approval of audited financial results, recommendation of a dividend, and a strategic divestment at a profitable consideration contribute positively to the company's outlook.
Dev Information Technology Limited announced the outcome of its Board Meeting held on Thursday, May 28, 2026. The Board approved the Standalone and Consolidated Audited Financial Results for the Quarter and Year ended March 31, 2026, along with the Statutory Auditors' report, which was issued with an unmodified opinion.
The Board also 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. Additionally, the reappointment of M/s. Manav Sheth and Company as the Internal Auditor for the financial year 2026-27 was approved.
In a significant move, 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 (Indian Rupees Four Crores Sixty Lakhs only). 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, though it will remain a subsidiary. The sale is expected to be completed within 5 months of the SPA execution and is conducted at an arm's length basis based on an independent valuation report. The 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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