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Last Updated on: 25 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Dev Information Technology Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 24, 2024, 9:52 pm

Market Cap 362 Cr.
Current Price 161
High / Low178/94.0
Stock P/E20.7
Book Value 29.1
Dividend Yield0.16 %
ROCE22.8 %
ROE19.2 %
Face Value 5.00
PEG Ratio0.99

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Dev Information Technology Ltd

Competitors of Dev Information Technology Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
IDream Film Infrastructure Company Ltd 1.41 Cr. 93.898.5/85.0 2950.00 %%% 10.0
IB Infotech Enterprises Ltd 23.8 Cr. 186245/11031.3 16.80.54 %69.9 %50.5 % 10.0
Hit Kit Global Solutions Ltd 6.54 Cr. 1.411.41/0.5820.4 2.080.00 %1.92 %1.94 % 2.00
Globalspace Technologies Ltd 59.8 Cr. 17.427.0/16.2181 11.20.00 %%% 10.0
First Fintec Ltd 8.80 Cr. 8.4610.9/4.51 10.20.00 %2.41 %1.77 % 10.0
Industry Average41,321.35 Cr716.0491.12122.740.66%18.02%18.80%6.94

All Competitor Stocks of Dev Information Technology Ltd

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales24.5623.0216.1329.0831.5926.5725.9927.3444.2660.4627.9531.74
Expenses23.8921.7615.3428.7330.3624.6024.1629.0739.4157.3925.9029.29
Operating Profit0.671.260.790.351.231.971.83-1.734.853.072.052.45
OPM %2.73%5.47%4.90%1.20%3.89%7.41%7.04%-6.33%10.96%5.08%7.33%7.72%
Other Income0.080.180.210.280.310.370.376.030.200.220.560.23
Interest0.310.300.210.130.300.330.340.480.240.340.350.33
Depreciation0.580.570.400.280.580.270.320.290.370.270.300.33
Profit before tax-0.140.570.390.220.661.741.543.534.442.681.962.02
Tax %-71.43%89.47%130.77%231.82%77.27%2.87%30.52%24.36%18.92%31.72%15.82%15.35%
Net Profit-0.240.07-0.12-0.290.161.691.072.663.591.831.661.71
EPS in Rs-0.100.05-0.03-0.110.100.730.531.291.500.820.740.77

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales435746476470786985100124160
Expenses41544242576168648296117152
Operating Profit2335691053478
OPM %5%5%7%10%10%12%12%7%3%4%6%5%
Other Income000100121177
Interest111122211111
Depreciation011112222211
Profit before tax12234674021113
Tax %51%27%28%36%33%28%35%-1%860%104%20%
Net Profit11123444-0-0910
EPS in Rs2.905.506.3510.301.851.741.991.68-0.150.064.064.35
Dividend Payout %9%7%8%6%7%7%6%7%0%425%6%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-2021
YoY Net Profit Growth (%)0.00%0.00%100.00%50.00%33.33%0.00%0.00%-100.00%
Change in YoY Net Profit Growth (%)0.00%0.00%100.00%-50.00%-16.67%-33.33%0.00%-100.00%

Dev Information Technology Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2013-2014 to 2020-2021.

Growth

Compounded Sales Growth
10 Years:11%
5 Years:16%
3 Years:25%
TTM:-8%
Compounded Profit Growth
10 Years:24%
5 Years:16%
3 Years:69%
TTM:85%
Stock Price CAGR
10 Years:%
5 Years:57%
3 Years:72%
1 Year:27%
Return on Equity
10 Years:12%
5 Years:9%
3 Years:15%
Last Year:19%

Last Updated: Unknown

Balance Sheet

Last Updated: November 15, 2024, 12:37 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital0.500.500.500.504666611111111
Reserves67810122024282722304454
Borrowings5688891111111071525
Other Liabilities12231012191915141824192516
Total Liabilities253827314354565862666895106
Fixed Assets55449914121010142221
CWIP0000000001134
Investments0000000543334
Other Assets19332227344542414753496778
Total Assets253827314354565862666895106

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +-03126-37566-2-1
Cash from Investing Activity +-0-0-0-0-6-1-7-7-0-2-1-2
Cash from Financing Activity +-1-0-0-1-1601-1-3-44
Net Cash Flow-1200-120-241-71

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow-3.00-3.00-5.00-3.00-2.000.00-1.00-6.00-8.00-6.000.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days791401141271171389211594114103114
Inventory Days703616484665648375396075
Days Payable10418598142169167131136117146150122
Cash Conversion Cycle45-93132-73625635361468
Working Capital Days413462654696829865556683
ROCE %20%19%26%29%24%22%8%3%7%28%23%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Oct 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters69.07%69.07%69.07%68.06%68.06%67.65%67.53%67.53%67.48%71.31%70.20%70.20%
FIIs0.00%0.00%0.00%1.00%1.81%1.81%1.72%0.00%0.00%0.00%0.00%0.00%
Public30.92%30.94%30.93%30.94%30.12%30.53%30.76%32.48%32.52%28.69%29.80%29.80%
No. of Shareholders1801906137,7336,3817,8327,0447,9807,1818,3038,4199,229

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue5.005.0010.0010.0010.00
Basic EPS (Rs.)4.194.080.131.486.70
Diluted EPS (Rs.)4.184.060.131.486.70
Cash EPS (Rs.)4.844.642.665.1510.56
Book Value[Excl.RevalReserv]/Share (Rs.)25.9218.8129.6961.7360.74
Book Value[Incl.RevalReserv]/Share (Rs.)25.9218.8129.6961.7360.74
Revenue From Operations / Share (Rs.)72.7556.1390.41153.32124.16
PBDIT / Share (Rs.)6.816.285.357.9210.21
PBIT / Share (Rs.)6.195.723.704.156.53
PBT / Share (Rs.)5.565.092.852.236.84
Net Profit / Share (Rs.)4.214.081.011.396.87
NP After MI And SOA / Share (Rs.)4.134.060.121.486.70
PBDIT Margin (%)9.3611.185.915.168.22
PBIT Margin (%)8.5010.184.092.705.25
PBT Margin (%)7.639.063.151.455.50
Net Profit Margin (%)5.797.261.110.905.53
NP After MI And SOA Margin (%)5.677.220.130.965.39
Return on Networth / Equity (%)16.7521.600.402.4111.11
Return on Capital Employeed (%)21.5727.7812.006.4210.07
Return On Assets (%)9.7213.240.201.296.37
Long Term Debt / Equity (X)0.070.080.020.030.05
Total Debt / Equity (X)0.230.170.290.300.30
Asset Turnover Ratio (%)2.001.821.521.391.16
Current Ratio (X)2.102.081.521.611.69
Quick Ratio (X)1.891.851.371.291.43
Inventory Turnover Ratio (X)0.006.303.066.254.71
Dividend Payout Ratio (NP) (%)5.956.15205.9733.777.46
Dividend Payout Ratio (CP) (%)5.175.4014.139.524.81
Earning Retention Ratio (%)94.0593.85-105.9766.2392.54
Cash Earning Retention Ratio (%)94.8394.6085.8790.4895.19
Interest Coverage Ratio (X)10.8010.016.314.124.00
Interest Coverage Ratio (Post Tax) (X)7.687.502.191.722.57
Enterprise Value (Cr.)237.71213.00142.3961.3440.49
EV / Net Operating Revenue (X)1.451.721.430.720.59
EV / EBITDA (X)15.5315.3324.1114.037.18
MarketCap / Net Operating Revenue (X)1.391.701.440.730.53
Retention Ratios (%)94.0493.84-105.9766.2292.53
Price / BV (X)4.115.084.381.821.09
Price / Net Operating Revenue (X)1.391.701.440.730.53
EarningsYield0.040.040.000.010.10

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Dev Information Technology Ltd as of November 25, 2024 is: 115.84

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 25, 2024, Dev Information Technology Ltd is Overvalued by 28.05% compared to the current share price 161.00

Intrinsic Value of Dev Information Technology Ltd as of November 25, 2024 is: 140.12

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 25, 2024, Dev Information Technology Ltd is Overvalued by 12.97% compared to the current share price 161.00

Last 5 Year EPS CAGR: 20.96%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 17.42%, which is a positive sign.
  2. The company has higher reserves (22.46 cr) compared to borrowings (10.31 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (78.58 cr) and profit (4.58 cr) over the years.
  1. The stock has a high average Working Capital Days of 66.08, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 29.75, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Dev Information Technology Ltd:
    1. Net Profit Margin: 5.79%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 21.57% (Industry Average ROCE: 17.01%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 16.75% (Industry Average ROE: 17.04%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 7.68
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.89
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 20.7 (Industry average Stock P/E: 72.38)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.23
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Dev Information Technology Ltd. is a Public Limited Listed company incorporated on 23/12/1997 and has its registered office in the State of Gujarat, India. Company’s Corporate Identification Number(CIN) is L30000GJ1997PLC033479 and registration number is 033479. Currently Company is involved in the business activities of Providing software support and maintenance to the clients. Company’s Total Operating Revenue is Rs. 99.03 Cr. and Equity Capital is Rs. 11.04 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
IT Consulting & Software14, Aaryans Corporate Park, Ahmedabad Gujarat 380059cs@devitpl.com
http://www.devitpl.com
Management
NamePosition Held
Mr. Pranav Niranjanbhai PandyaFounder & Chairman
Mr. Jaimin Jagdishbhai ShahManaging Director & CEO
Mr. Vishal Nagendra VasuDirector & CTO
Mr. Prerak Pradyumna ShahDirector & Joint CEO
Dr. V V Rama Subba RaoIndependent Director
Mr. Jatin Y TrivediIndependent Director
Ms. Rama MoondraIndependent Woman Director
Mr. Umesh RatejaIndependent Director

FAQ

What is the latest intrinsic value of Dev Information Technology Ltd?

The latest intrinsic value of Dev Information Technology Ltd as on 25 November 2024 is ₹115.84, which is 28.05% lower than the current market price of ₹161.00.

What is the Market Cap of Dev Information Technology Ltd?

The Market Cap of Dev Information Technology Ltd is 362 Cr..

What is the current Stock Price of Dev Information Technology Ltd as on 25 November 2024?

The current stock price of Dev Information Technology Ltd as on 25 November 2024 is 161.

What is the High / Low of Dev Information Technology Ltd stocks in FY 2024?

In FY 2024, the High / Low of Dev Information Technology Ltd stocks is 178/94.0.

What is the Stock P/E of Dev Information Technology Ltd?

The Stock P/E of Dev Information Technology Ltd is 20.7.

What is the Book Value of Dev Information Technology Ltd?

The Book Value of Dev Information Technology Ltd is 29.1.

What is the Dividend Yield of Dev Information Technology Ltd?

The Dividend Yield of Dev Information Technology Ltd is 0.16 %.

What is the ROCE of Dev Information Technology Ltd?

The ROCE of Dev Information Technology Ltd is 22.8 %.

What is the ROE of Dev Information Technology Ltd?

The ROE of Dev Information Technology Ltd is 19.2 %.

What is the Face Value of Dev Information Technology Ltd?

The Face Value of Dev Information Technology Ltd is 5.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Dev Information Technology Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE