Dev Information Technology Approves Q4 FY26 Results, Recommends 5% Dividend, Divests 25% Stake in Subsidiary
Dev Information Technology Limited approved its Q4 FY26 audited financial results and recommended a 5% final dividend. The company also approved the divestment of a 25% stake in its subsidiary, Dhyey Consulting Services, for ₹4.60 crore. M/s. Manav Sheth and Company was re-appointed as Internal Auditor.
The divestment of a subsidiary stake and dividend recommendation are material events that can impact the company's structure and shareholder returns.
The approval of financial results, recommendation of a dividend, and a strategic divestment at a profitable consideration 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 audited financial results will be available on the stock exchange and the company's website.
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.
Furthermore, the company approved the re-appointment of M/s. Manav Sheth and Company as the Internal Auditor for the financial year 2026-27.
In a significant move, the Board 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 crore (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. The transaction is expected to be completed within 5 months of the SPA execution. The buyer and seller are not related, and the transaction is conducted at arm's length based on an independent valuation report.
The Board meeting commenced at 5:00 p.m. IST and concluded at 6:45 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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