DEV INFORMATION TECHNOLOGY LIMITED — Interim / Quarterly Report 2019

Nov 13, 2018

Dev Information Technology limited Reg. Office: 14, Aaryans Corporate Park, Near Shilaj Railway Crossing, Thaltej-Shilaj Road, Thaltej, Ahmedabad-380 059. (INDIA) Phone: +91-94298 99852 I 53

www.devitpl.com I info@devitpl.com

Offices: Gujarat I Maharashtra I Rajasthan I Canada CIN:L30000GJ1997PLC033479

To, The Manager-Listing Department, The National Stock Exchange of India Limited, Exchange Plaza, Plot No. C/1, G-Biock, Bandra Kurla complex, Bandra East, Mumbai-400 051

Ref: DEV INFORMATION TECHNOLOGY LIMITED (DEVIT) (Series: SM)

SUBJECT: OUTCOME OF THE BOARD MEETING HELD ON 13TH NOVEMBER, 2018:

Dear Sir/Mam,

We would like to inform you that following businesses were considered and approved by the Board of Directors of 'DEV INFORMATION TECHNOLOGY LIMITED' in their meeting held on 13th November, 2018, Tuesday at the registered office of the company at 14, Aaryans Corporate Park Nr. Shilaj Railway Crossing, Thaltej Ahmedabad ,GJ-380059 at 4:00P.M. and concluded at 5 '.30P.M:

• 1. The Un-Audited Standalone Financial results for the half year ended on 30th September, 2018, as per regulation 33 of Securities and Exchange Board of India (Listing obligation and Disclosure Requirements) Regulation, 2015, were confirmed and approved by the Board of Directors. (Enclosed herewith as an annexure)
• 1. The Limited Review report on the Un-Audited Standalone Financial results for the half year ended on 30th September, 2018, as per regulation 33 of Securities and Exchange Board of India (Listing obligation and Disclosure Requirements) Regulation, 2015, were confirmed and approved by the Board of Directors. (Enclosed herewith as an annexure)

The aforesaid financial results together with other requisite enclosures are also made available on the company's website www.devitpl.com.

Kindly take this information on your records.

Thanking you,

On behalf of Board of Directors

ir-~~ 1:~ ~~\n't Company Secretary

Place: Ahmedabad Date: 13th November, 2018.

Enterprise Applications Enterprise Mobility

Cloud Computing

Chandulal M. Shah & Co. CHARTERED ACCOUNTANTS

601, "Samruddhi", Opp. Sakar III, Nr. Sattar Taluka Society, Ahmedabad-380 014. Tel.: (0) 91-79-27544430, 27540612, 27541883 (M) 9033034430 (R) 26300711 E-mail: cmshah@cmshah.com

Limited Review Report

To The Board of Directors of Dev Information Technology Limited Ahmedabad

We have reviewed the accompanying statement of unaudited financial results of Dev Information Technology Limited for the half year ended September 30, 2018. This statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a Report on these financial statements based on our review.

We conducted our review of the financial statements in accordance with the Standard on Review Engagement (SRE) 2410, "Review Of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

Based on our review conducted as stated above, nothing has come to our attention that causes us to believe that the accompanying statement of Standalone unaudited financial results prepared in accordance with the applicable Accounting Standards and other recognized Accounting Practices and Policies has not disclosed the Information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed or that it contains any material misstatement.

For, Chandulal M Shah & Co. Chartered Accountants FRN. 101698 W

Place: Ahmedabad Date: 13/11/2018

Bharat M. Zinzuvadia Partner Membership No. F 109606

DEV INFORMATION TECHNOLOGY LTD. (CIN:L30000GJ1997PLC033479)

Regd. Office:- 14, Aaryans Corporate Park, Near Shilaj Railway Crossing, Thaltej-Shilaj Road, Thaltej, Ahmedabad-380 059. INDIA E-mail id: cs@devitpl.com website:www.devitpl.com

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE HALF YEAR ENDED ON 30th SEPTEMBER, 2018
				(Amount in Rs.)
Particulars	6 Months Ended(30/09/2018)(Unaudited)	6 Months Ended(30/09/2017)(Unaudited)	6 Months Ended(31/03/2018)(Unaudited)	Previous AccountingYear Ended(31/03/2018)(Audited)
Revenue from Operations	30,44,30,331	26,89,78,143	40,07,35,714	66,97,13,857
Other income	48,82,425	19,32,802	16,38,514	35,71,316
Total Revenue	30,93,12,756	27,09,10,945	40,23,74,228	67, 32, 85, 173
Expenses
Cost of Goods and Services	11,46,87,887	14,67,60,439	22,50,64,734	37, 18, 25, 173
Changes in inventories of stock-in-trade andproject in progress	(81, 47, 390)	(2,82,30,028)	88,95,961	(1,93,34,067)
Employee benefits expenses	13,36,25,060	9, 15, 77, 737	9,88,30,249	19,04,07,986
Finance Cost	85,73,173	72,11,045	91,01,183	1,63,12,229
Depreciation and amortisation expenses	92,01,060	68,40,707	1,06,58,632	1,74,99,339
Other expenses	2,26,44,806	2,18,27,559	2,52,53,057	4,70,80,616
Total Expenses	28,05,84,595	24,59,87,459	37,78,03,816	62,37,91,276
Profit Before Tax for the Period	2,87,28,160	2,49,23,486	2,45,70,412	4,94,93,897
Tax expense
Current Tax	60,00,000	78,50,000	92,50,000	1,71,00,000
Earlier Period Tax Adjustment			7,29,929	7,29,929
Deferred Tax	21,23,988	8,74,330	(22, 42, 281)	(13, 67, 951)
Total Tax Expenses	81,23,988	87,24,330	62,77,790	1,50,02,120
Profit For The Period	2,06,04,172	1,61,99,156	1,82,92,622	3,44,91,777
Details of equity share capital
Paid-up share capital	5,52,05,000	5,52,05,000	5,52,05,000	5,52,05,000
Face value of equity share capital	10	10	10	10
Earning per Equity Share of Rs.10 Each
(a)Basic	3.73	2.99	3.34	6.30
(b)Diluted	3.73	2.99	3.34	6.30

For DEV INFORMATION TECHNOLOGY LTD.

JAIMIN J. SHAH Managing Director $(DIN: 00021880)$

HARSHIL SHAH Chief Financial Officer

Place: Ahmedabad Date: 13/11/2018

PRANAV PANDYA $\mu$

Chairman $(DIN: 00021744)$

KRISA RATEL Company Secretary

DEV INFORMATION TECHNOLOGY LTD.

(CIN:L30000GJ1997PLC033479)

Regd. Office:- 14, Aaryans Corporate Park, Near Shilaj Railway Crossing, Thaltej-Shilaj Road, Thaltej, Ahmedabad-380 059. INDIA website:www.devitpl.com E-mail id: cs@devitpl.com

	STANDALONE STATEMENT OF ASSETS AND LIABILITIES FOR THE HALF YEAR ENDED ON 30th SEPTEMBER, 2018		(Amt in Rs.)
		As at	As at
	Particulars	30.09.2018	31.03.2018
		(Unaudited)	(Audited)
Т	Equity and Liabilities
$\mathbf{1}$	Shareholders' Fund
	Share Capital	5,52,05,000	5,52,05,000
	Reserves and Surplus	21,66,38,805	19,93,72,300
	2 Non Current liabilities
	Long Term Borrowings	2,64,01,019	1, 18, 74, 643
	Deffered Tax Liabilities	32,92,144	11,68,156
	Other Long Term Liabilities	19,32,983	12,18,572
	3 Current Liabilities
	Short Term Borrowings	6,89,56,480	7,08,35,793
	Trade Payables	6,53,99,960	16,89,43,638
	Other Current Liabilities	1,10,86,492	1,85,34,716
	Short Term Provisions	61,26,626	58,23,626
	TOTAL EQUITY AND LIABILITIES	45,50,39,510	53,29,76,444
$\overline{\mathbf{H}}$	ASSETS
	1 Non-Current Assets
	Property Plant & Equipment
	Tangible assets	8,70,12,990	5,44,46,209
	Intangible assets	2,74,14,513	3, 14, 46, 638
	Non-current investments	28,29,978	28,29,978
	Long-term loans and advances	4,06,34,936	2,25,85,745
	2 Current assets
	Inventories	7,36,61,756	6,55,14,367
	Trade receivables	17, 10, 76, 305	27,39,96,991
	Cash and cash equivalents	3,12,28,955	5,98,41,937
	Short-term loans and advances	2,11,80,078	2,23,14,579
	TOTAL ASSETS	45,50,39,510	53,29,76,444

For DEV INFORMATION TECHNOLOGY LTD.

JAIMIN J. SHAH Managing Director $(DIN: 00021880)$

HARSHIL SHAH Chief Financial Officer

Place: Ahmedabad Date: 13/11/2018

Por Candya

PRANAV PANDYA Chairman $(DIN: 00021744)$

KRISA PATEL

Company Secretary

Notes:

1	The above financial results have been reviewed by the Audit Committee of the Board and approved by the Board of Directors at the meetingheld on 13th November, 2018.
2	The company is engaged in IT services from where it generates its revenue. The requirement of AS-17-"Segment Reporting", is notapplicable to the company as it is engaged in single business segment and no break up of revenue is available.
$\overline{\mathbf{z}}$	The Statutory Auditors of the company have carried out "Limited Review" of the financial statements for the half year ended 30thSeptember, 2018 as per Regulation 33 of Securities and Exchange Board of India (Listing obligation and Disclosure Requirements) Regulation,2015.
$\Delta$	As per dynamics of Government functioning, its majority of annual budgetary allocations spending are carried out mostly during last quarterof financial year, which results into substantial revenue being realised in the second half of the financial year for the company.
5	The financial result have been prepared in aocordancc with the Generally Accepted Accounting Principles In India (Indian GAAP) as IND AS arecurrently not applicable to the Company.
6	The figures have been regrouped/rearranged wherever necessary. The figures of half year ended on March 2018 are the balancing figuresbetween audited figures in respect of full financial year 2017-18 and the published year to-date figures upto the first half year unauditedended on 30/09/2018.
	According to regulation 33(3)(b)(i) of Securities and Exchange Board of India (Listing obligation and Disclosure Requirements) Regulation,2015, company opts not to provide consolidated financial results of the company. The audited consolidated financial results of the subsidiarycompanies will be provided at the end of Financial year.

For DEV INFORMATION TECHNOLOGY LTD.

JAIMIN J. SHAH Managing Director(DIN: 00021880)

HARSHIL SHAH Chief Financial Officer

Place: AhmedabadDate: 13/11/2018

$1-\theta$

PRANAV PANDYAChairman(DIN : 00021744) $\sqrt{2\pi}$ Ŧ

KRISA PATEL Company Secretary