DEV INFORMATION TECHNOLOGY LIMITED — Interim / Quarterly Report 2023

Nov 7, 2023

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 / 53

www.devitpl.com | info@devitpl.com

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

To,	To,
The Manager-Listing Department,	The Secretary,
The National Stock Exchange of India Limited,	BSE Limited
Exchange Plaza, Plot No. C/1, G-Block,	Phiroze Jejeebhoy Towers,
Bandra Kurla complex,	Dalal Street
Bandra East,	Mumbai -400001
Mumbai-400 051 Trading Symbol: DEVIT	Trading Symbol: 543462

Subject: Outcome of the Board Meeting held on Tuesday, 07th November, 2023: Ref.: Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirement),2015

Dear Sir/Mam,

With reference to the captioned subject, we would like to inform you that the Board of Directors of Dev Information Technology Limited (the "Company") in its Meeting held on Tuesday, 07th November, 2023 at 05:30 P.M. at the registered office of the company, inter alia, discussed and approved following businesses:

1. Considered and approved unaudited standalone and consolidated financial results for the Second Quarter and Half-year ended on September 30, 2023 along with Limited Review Reports thereon. Financial Results and Limited Review Reports are enclosed herewith (Annexure – I).

Further, unaudited standalone and consolidated financial results for the period as aforementioned shall be available on the website of the Stock Exchange where the shares of the Company is listed i.e. at www.nseindia.com , www.bseindia.com and on Company's website at https://www.devitpl.com/.

The board Meeting concluded at 06:10 P.M.

Kindly take this information on your records.

Thanking you,

PATEL

On behalf of Board of Directors DEV INFORMATION TECHNOLOGY LIMITED

KRISA RUPALKUMAR Digitally signed by KRISA RUPALKUMAR PATEL DN: c=IN, o=Personal, postalCode=380052, st=Gujarat, 2.5.4.20=d1c0aba8e31c18d21102a1dc7b6f28e8284d9736481ffbf9aac932a2e 380bf46, pseudonym=DB51E9393700C673574239D33EDA5A6EC04C6770, serialNumber=0D148FB642AD1A5177D6AC789F641CE2A46A0172B9661A77 16658794938A1AF0, cn=KRISA RUPALKUMAR PATEL Date: 2023.11.07 18:10:50 +05'30'

Krisa Patel Company Secretary & Compliance Officer Place: Ahmedabad Date: 07th November, 2023

RINKESH SHAH & CO. CHARTERED ACCOUNTANTS

Independent Auditor's review report on Unaudited Quarterly and Year to Date Standalone Financial Results of Dev Information Technology Limited pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Review Report to the Board of Directors of Dev Information Technology Limited

• 1. We have reviewed the accompanying statement of unaudited standalone financial results of Dev Information Technology Limited ("the company") for the Quarter and Half Year Ended September 30, 707~ ;mel YP<lr tn ci<JtP frnm April 01 , 707~ to September 30, 2023 ("the Statement"), being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
• 1. This statement, which is the responsibility of the Company's management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("lnd AS 34") prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on these financial statements based on our review.
• 1. We conducted our rev~ew In accordance with the Sta ndard 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 statement is free of material misstatement. A review of interim financial information consists of making inquiries primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down In lnd AS 34, prescribed under Section 133 of the Companies Act, 2013, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, (as amended), including the manner in which it is to be disclosed, or that it contains any material misstatement.

For RINKESH SHAH & Co. Chartered Accountants FRN 129690W

~ SHAH

CA RINKESH Partner M.No. 131783 UDIN: 23131783BGPNLE5596

Date: No_vember 07, 2023

'

Place: Ahmedabad

DEV INFORMATION TECHNOLOGY LIMITED Registered Office: 14, AARYANS CORPORATE PARK NR. SHILAJ RAILWAY CROSSING, THALTEJ AHMEDABAD GJ 380059 Website: www.devitpl.com CIN: L30000GJ1997PLC033479

Statement of Unaudited Standalone Financial Results for the Quarter and Half Year Ended on September 30, 2023

						(II! In Lakhs except for EPS)
			QUARTER ENDED		HALF YEAR ENDED YEAR ENDED
		9/30/ 2023	6/30/ 2023	9/ 30/2022	9/30/2023	9/30/2022	3/31/2023
Sr no.	Particulars	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
I	Revenue from operations	2,999.64	5,889.13	2,715.10	8,888.77	5,315.69	12,197.02
II	Other Income	51.45	18.47	37.24	69.92	74.08	696.75
Ill	Total lncome_{l+ll)	3,051.09	S,907.60	2,7S2.34	8,958.69	5,389.77	12,893.77
IV	Expenses
	a) Cost of materials consumed	898.33	3,892.64	1,268.99	4,790.97	2,369.43	6,103.29
	(b) Chanees in inventories of finished goods and stock-in-trade	3 32	(6.49)	('i0.41)	('~ 17)	(::lq.fi7)	(::l0.50)
	c) Employee Benefits Expenses	1,773.18	1,605.61	1,167.51	3,378.79	2,414.48	5,047.56
	(d) Finance Costs	32.50	24.86	30.50	57.36	55.64	119.66
	(e) Depreciation and amortization expenses	29.27	26.30	31.63	55.57	58.78	121.32
	(f) Other expenses	120.01	117.31	105.27	237.32	186.77	450.19
	Total expenses (IV)	2,856.61	5,660.23	2,553.49	8,516.84	5,045.43	11,811.52
v	Profit before exceptional items	194.48	247.37	198.85	441.85	344.34	1,082.25
	and tax (III-IV)
VI	Extraordinary items		-	-	-	-	-
VII	Profit Before Tax (V - VI)	194.48	247.37	198.85	441.85	344.34	1,082.25
VIII	Tax expense :
	a) Current Tax	42.00	72.00	48.30	114.00	85.60	249.50
	b) Deferred Tax liability I (Assets)	(9.88)	8.42	{2.73)	{1.46)	(42.36)	129.851
	c) Adjustment of tax for Earlier Year			9.07		9.07	(9.89
	Total Tax Expenses (VIII)	32.12	80.42	54.64	112.54	52.31	209.76
IX	Profit I (l oss) for the period {VII-VII	162.36	166.95	144.21	329.31	292.03	872.49
X	Other Comprehensive Income (net of taxes)
	i) Items that will not be reclassified to profit or loss		-	-	-		2.67
	a) Remeasurements of the defined benefit plans	(0.53)	(0.54)	(1.24)	(1.07)	(2.49)	(2.15)
	b) Income tax relating to items that will not be reclassified to profit or loss	0.13	0.14	0.31	0.27	0.63	(0.13)
XI	Total comprehensive income for the period (IX+ X)	161.96	166.55	143.28	328.50	290.17	872.88
XII	Paid up equity share capital (face value of Rs. 5 per share)	1,106.71	1,105.92	1,104.10	1,106.71	1,104.10	1,105.92
XIII	Other equity excluding Revaluation Reserve						3,135.55
XIV	Earnings per share (of Rs. 5/· each) It not annualised):
	Basic	0.73	0.75	1.31	1.48	2.64	3.95
	Diluted	0.73	0.75	1.31	1.47	2.64	3.93

Place: Ahmedabad

Date: November 07,2023

Notes:

• 1 The above Unaudited standalone financial results have been reviewed by the Audit Committee and thereafter approved by the Board of Directors of the Company in their respective meetings held on November 7, 2023.The Statutory Auditor of the company have carried out a limited review of the above Unaudited standalone financial results.
• 2 The Unaudited standalone financial results for the Quarter and Six Months ended September 30, 2023, have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (lnd AS) prescribed under Section 133 of the
• 3 The Company operates in a single segment and in line with lnd AS- 108- "Operating Segments", the operations of the Company fall under "IT & IT Enabled Services" which is considered to be the only reportable business segment.
• 4 The company has allotted 15,680 equity shares of face value of Rs 5/- each pursuant to the Dev Information Technology Limited Employee Stock Option Scheme 2018 to the eligible employees on July 06, 2023. The same have been credited and transferred on the permanent ISIN and have got listed on both the stock exchanges on August 09, 2023.
• 5 The figures of previous quarters I year are reclassified, regrouped and rearranged wherever necessary so as to make them comparable with current period's figures.

For, Dev Information Technology Limited

Jaimin.J. Shah (Din : 00021880) Managing

Harshil H.Shah

Chief Financial Officer

(Din : 00021744)

Chairman

Company Secretary

Place: Ahmedabad

Date: November 07,2023

DEV INFORMATION TECHNOLOGY LIMITED Statement Of Standalone Assets And Liabilties As At September 30,2023

		(Rs. in Lakhs)
Particulars	As at 30th September, 2023	As at 31st March, 2023
I ASSETS	(Unaudited}	{Audited)
1 Non-current Assets
(a) Property, Plant and Equ1pment	758.79	783.76
(b) Capital work-in -progress	113 81	113.81
(c) Right of use Assets	.15	8.39
(d) Other Intangible assets	148.07	136.48
(e) Financial Asset s (i) Investments		942.41
(ii) Loans	952.64 158.16	86.41
(iii) Other Financial Assets	98.55	101.81
(f) Deferred tax assets (Net)
(g) Other non-current assets	-	70.00
Total Non-current Assets	2,234.17	2,243.07
2 Current Assets
(n) lnvPntoriP~ (b) Financial Assets	501.50	498.33
(i) Trade receivables	3,687.00	3,632.34
(ii) Cash and cash equivalents	26.28	84.41
(iii) Bonk balances other than (ii) above	270.40	266.62
(iv) Loans
(c) Current Tax Assets (Net)	71.88	16.18
(d) Other current assets Total Current Assets	59.00	45.72 4,543.60
	4,616.06
TOTAL ASSETS	6,850.23	6,786.67
EQUITY AND LIABILITIES II
1 Equity
(a) Equity Share cap1tal	1,106.71	1,105.92
(b) Other Equity Total Equity	3,438.92 4,545.63	3,135.55 4,241.47
2 LIABILITIES
Non-current Liabilities
(a) Financial Liabilities
(i) Borrowmgs	349.47	347.16
(ii) Lease Liabilities (iii) Other financ1alliabilities		8.88
(b) Provisions
(c) Deferred tax liabilities (Net)	9.76	11.50
Total Non-current Liabi lities	359.23	367.54
3 Current Liabilities
(a) Financial Liabilities (i) Borrowmgs	543.34	354.72
(ii) Trade payables
·Total outstanding dues of m1cro and small ente		5.01
- Total outstanding dues of trade payables other
than micro and small enterprises	597.26	1,204.55
(iii) Lease Liabilities	4.61	0.33
(iv) Other fmancialliabilit1es (b) Other current liabilities	669.55 73.11	388.43 163.48
(C) PrOVISIOnS	57.48	61.14
Total Current Liabilities	1,945.35	2,177.66
TOTAL EQUITY AND LIABI LITIES	6,850.23	6,786.67

For, Chairman

Date: November 07,2023 Company ¥.! Secretary

Place: Ahmedabad

Particulars	Half Year ended September 30, 2023		(' In Lakhs Half Year ended September 30, 2022
	(Unaudited)		(Unaudited)
A. Cash Flow from Operating Activities
Profit Before Tax		441.8S		344.33
Adjustments for
Depreciation and Amortisation Expenses	55.57		58.78
Finance Cost	57.36		55.64
Effect of fair valuation of investments	(10.23)
Unrealised Forex Loss/(Gain)	(6.32)		(45.83)
Esop Expense for the Year	21.59
Loss/(Profit) on sale/discarded of
Property, Plant & Equipment s	(29.24)		(0.00)
Interest & Dividend Income	(19.02)		(21.98)
Sundry Balances written back	9.06		12.27
Actuari I oains. llossesl on oost	7
IProfitlJ loss on Sale of Business Model lmoairmen ·of rrade Receivable			5.00 0.451
Provi .ion for Doubttul Debts	4.53
Net Loss I (Gain) on sale I fair valuation of			(0.76)
Investments
		82.24		52.66
Operating Profit Before Working Capital Changes		524.09		396.99
Working Capital Changes
Adjustments for
(lncrease)/Decrease in trade receivables	(42.39)		(466.38)
(Increase)/ Decrease in other receivables	59.99
(lncrease)/Decrease Inventories	(3.17)		(39.67)
Increase/ (Decrease) in Trade payables	(612.30)		(605.41)
Increase/ (Decrease) in financial and other liabilities	122.69
		(475.18)		(1,111.45)
Cash Generated from Operating Activities		48.91		{714.46)
Direct taxes paid (Net of Refund)	(169.71)		(71 .83)
		(169.71)		(71.83)
Net Cash from Operating Activities		(120.80)		(786.29)
B. Cash Flow from Investing Activities
Purchase of Property, Plant & Equipments and	(48.31)		(72.18)
Intangible Assets
Proceeds from sale of Tangible Assets	39.61		0.36
Sale I Redemption I (Purchase) of Investments/ asset	(81.98)		0.76
(Net)
Proceeds from Sale/Redemption of Business Model			5.00
Changes in Bank balances other than cash	(3.78)
equivalents
interest & Dividend Received	19.02		21.98
Net Cash (used in) Investing Activities
		(75.44)		(44.09)
C. Cash Flow from Financing Activities
Payment of Dividend	(0.00)		(5.13)
Finance Cost	(57.36)		(55.64)
Interest and Other Borrowing Cost Paid	190.93		343.32
Proceeds from exercise of share options	9.41
Payment of Lease liability	(4.86)		(2.46)
Net Cash (used in) Financing Activities		138.11		280.09
Net increase I (decrease) in cash and cash equivalents		(58.13)		(550.28)
Cash and cash equivalents at the beginning of the year		84.41		699.52
Cash and cash equivalents at the end of the vear		26.28		149.24

DEV INFORMATION TECHNOLOGY LIMITED

The above Cash Flow Statement has been prepared under the " Indirect Method • as set out in the Accounting St andard-3 on Cash Flow St atement as Accounting Standard specified under section 133 of the Companies Act, 2013 read with rule 7 of the

-- For, De ation Technology Limited LED FOR IDENTIFICATION I NITtA I :uv~ BY p fl~'"'- 9, ~ c.. t.o RINKESH SHAH & CO.

Place: Ahmedabad

Date: November 07,2023 Chief Financial Officer

<f.~ (Din : 00 Pan 021744) ~

Chairman

. :.

RINKESH SHAH & CO. CHARTERED ACCOUNTANTS

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of Dev Information Technology Limited Pursuant to the Regulation 33 of the SEBI (Listing Requirements Obligations and Disclosure) Regulations 2015, as amended

Review Report to the Board of Directors of Dev Information Technology Limited

• 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Dev Information Technology Limited (the "Holding Company") and Its subsidiaries and associate (the Holding Company and its subsidiaries and its associate together referred to as "the Group") for the quarter and Half Year Ended September 30,2023 and year to date from April 01,2023 to September 30,2023 (the "Statement"), being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations. 2015, as arvended (the "listing Regulations").
• 1. This Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34. (lnd AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules Issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the statement in accordance with the Standard on Review Engagements (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 Statement is free of material misstatement. A review of interim financial information consists of making inquiries. Primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less In scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the Circular No. CIR/CFD/CMD1/44/2019 dated March 29, 2019 4ssued by the Securities and Exchange Board of India under Regulation 33(8) of the listing Regulations, to the extent applicable.

1. The consolidated financial results include unaudited financial results of the following entities: • Subsidiaries:- Dev Info-Tech North America limited &

2. Minddefft technologies Private Limited .

3. Associate:- Dev Accelerator Private Limited

Page 1 of 2

The Statement includes the unaudited financial results and other financial information in respect of:-

• Two (2) subsidiaries ,whose financial statements (before consolidation adjustments) include total assets of Rs. 930.841akhs as at September 30, 2023, total revenues of Rs. 608.22 lakhs and Rs. 1,225.49 lakhs, total net profit after tax of Rs. 4.39 lakhs and Rs. 18.93 lakhs and total comprehensive income of Rs 4.39 lakhs and Rs. 18.93 lakhs for the quarter ended September 30, 2023 and for the Half year ended September 30, 2023 respectively and cash outflows( net) of Rs. (7.75) lakhs for Half year eroded September 30, 2023 as considered in the Statement whose financial resu ~ and other financial information, have not been reviewed by us. The Holding Company's management has converted the financial statements of such subsidiary located out side India from the accounting principles generally accepted in their respective ·cou ntries to the accounting principles generally accepted in India.

According to the information and explanations given t o us by the holding company's management, this financial resu lts and other financial information are not material to the Group.

The Statement includes the unaudited financial results and other financial information in respect of:

• One (1) Associate whose financial statements Include Group's share of Net Loss of Rs. Nil and Total Comprehensive income of Rs. Nil for t he quarter and half year ended September 30, 2023 as considered in the statement whose financial statements and other financial information have been not been reviewed by its respective independent auditor.
• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement, prepared in accordance with recogn ition and measurement principles laid down in lnd AS 34, Prescribed under Section 133 of the Companies Act, 2013, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has 11ot disclosed the information required to be disclosed in terms of the listing Regulations 33 of the SEBI{listing Obligation and Disclosure Requirements) Regulatlons,{As amended), Including the manner In which it is to be disclosed, or that it contains any material Misstatement .

For RINKESH SHAH & Co. Chartered Accountants FRN 129690W

'• ..

CA RINKESH SHAH Partner Place: Ahmedabad M .No. 131783 UDIN: 23131783BGPNLH4100

Date: November 07, 2023

...

...

Page 2 of 2

DEV INFORMATION TECHNOLOGY LIMITED

Registered Office: 14, AARYANS CORPORATE PARK NR. SHII.AJ RAILWAY CROSSING,

THALTEJ AHMEDABAD GJ 3800S9

CIN: L30000GJ1997PLC033479 Website: www.devitpl.com

Statement of Unaudited Consolidated financial Results for the Quarter and Half Year Ended on 30th September, 2023

		(~in Lakhs except for EPS)
			C UARTER ENDED		HALF YEAR ENDED YEAR ENDED
Sr	Particulars	9/30/2023	6/30/2023	9/30/2022	9/30/2023	9/30/2022	3/31/2023
no.		(Unaudited)	(Unaudited)	(Unaudited)	{Unaudited)	(Unaudited)	(Audited)
I	Revenue from operations	2,794.72	6 04S.68	2 S98.73	8 840.40	s 2S5.96	12 41S.S2
II	Other Income	SS.S8	21.70	37.24	77.28	74.08	696.7S
Ill	Total Income (1+11)	2 8S0.30	6 067.38	2 63S.97	8 917.68	s 330.04	13 112.27
IV	Expenses
	al Cost of mat erials & Services	590.16	3,893.00	1 1S3.56	4 483.16	2,2S5.16	6 101.46
	(b) Changes in inventories of finished	3.32	(6.49)	(S0.41)	(3.17)	(39.67)	(30.50)
	oods and stock-in-trade
	c) Emplovee Benefits Expenses	1,841.60	1688.08	1 167.S1	3,S29.68	2,414.48	5 128.4S
	dl finance Costs	3S.03	34.04	34.08	69.07	67.03	138.81
	(e) Depreciation and amortization expenses	30.20	27.10	31.63	S7.30	S8.78	124.83
	f) Other expenses	1S3.82	164.04	14S.03	317.86	245.85	S23.S9
	Total expenses (IV)	2 6S4.13	s 799.76	2 481.40	8 4S3.89	s 001.63	11 986.64
v	Profit before exceptional Items and tax (III·IV)	196.16	267.62	1S4.S7	463.78	328.41	1,125.63
VI	Extraordinary Items
	Share of profit/{ loss) of an associates
VII	Profit Before Tax (V · VI)	196.16	267.62	1S4.S7	463.78	328.41	112S.63
VIII	Tax expense :
	a) Current Tax	42.00	75.00	41.10	117.00	85.60	264.41
	b) Deferred Tax Liability I (Assets)	(11.14	9.68	(2.73	(1.46	(42.36	(30.98
	c) Adjustment of tax for Earlier Years			9.07		9.07	(9.89
	Total Tax Expenses (VIII)	30.86	84.68	47.44	11S.S4	S2.31	223.S6
IX	Profit for the period (VII-VIII)	16S.30	182.94	107.13	348.24	276.10	902.07
X	Other Comprehensive Income (net of taxes) i) Items that will not be reclassified to						2.67
	rofit or loss
	a) Remeasurements of the defined benefit olans	(0.53)	(0.54)	(1.24)	(1.07)	(2.49)	(2.15)
	b) Income tax relating to items that will not be reclassified to profit or loss	0.13	0.14	0.31	0.27	0.63	(0.13)
XI	Total comprehensive Income for the ,period (IX+ X)	164.90	182.S4	106.20	347.44	274.24	902.46
XII	Profit for the period attributable to:
	Owner of the company	163.58	181.39	9S.80	344.97	272.03	897.4S
	Non controlling interest	1.72	1.SS	11.33	3.27	4.07	4.63
XIII	Other Comprehensive Income (net of taxes) for the period attributable to:
	Owner of the comoan_y_	(0.40	(0.40	(0.93	(0.80	(1.86)	(2.28
	Non controllinR Interest
XIV	Tot al Other Comprehensive Income (net of taxes) for the period attributable to:
	Owner of the company	163.18	180.99	94.87	344.17	270.17	897.84
	Non controlling interest	1.72	1.SS	11.33	3.27	4.07	4.63
XV	Paid up equity share capital( face value Rs. 5per share)	1,106.71	1,10S.92	1,104.10	1,106.71	1,104.10	1,10S.92
XVI	Other equity excluding revaluation						3,048.70
XVII	reserve Earning per share (of Rs. S/· each) (not
	annualised): Basic	(0.10	1.66	0.97	1.S6	2.SO	4.08
	I Diluted	10.12'	1.66	0.97	.54	2.50	4.08

Date: November 07, 2023 Chief Financial Officer

bAtA~111o,_,L-ec hnology \A C'~ ... Ja ~ l~(Din : 00021880) *1* M ag1ng Hars I H.Shah

Place: Ahmedabad

Notes:

• 1 The above Unaudited Consolidated financial results have been reviewed by the Audit Committee and thereafter approved by the Board of Directors of the Company in their respective meetings held on November 07,2023.The Statutory Auditor of the company have carried out a
• 2 The unaudited consolidated financial results for the Quarter and Six Months ended September 30, 2023, have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (lnd AS) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.
• 3 The consolidated financial results include unaudited financial results of the following entities:
• 4 The company has allotted 15,680 equity shares of face value of Rs 5/- each pursuant to the Dev Information Technology Limited Employee 5 The Unaudited Consolidated financial results for the Quarter and Six months ended September 30, 2023 are prepared in accordance with
• principles and procedures as set out in the lnd AS 110 "Consolidated Financial Statements" prescribed under section 133 of the Companies 6 The Group operates in a single segment and in line with lnd AS- 108 - "Operating Segments", the operations of the Company fall under "IT & IT Enabled Services" which is considered to be the only reportable business segment.
• 7 The figures of previous quarters I year are reclassified, regrouped and rearranged wherever necessary so as to make them comparable with current period's figures.

@w£AJHA/ ~ -• For, Dev Information Tec hnolo ~·m ed Pr'anav Pa!!i,~ (fv"' ·6~. . Shah (Din : 00021744) (Din: 00021880) Managing Harshil H.Shah Chief Financial

Officer

Secretary

Place: Ahmedabad Date: November 07, 2023

DEV INFORMATION TECHNOLOGY LIMITED Statement Of Consolidated Assets And Llablitles As At September 30,2023

Particulars	As at 30th September, 2023	As at 31st March, 2023
I ASSETS	(Unaudited)	(Audited)
1 Non-current Assets
(a) Property, Plant and Equipment	805.86	831.66
(b) Capital work-in-progress	113.81	113.81
(c) Right of Use Assets	4.15	8.39
(d) Goodwill	448.31	448.31
(e) Other Intangible assets	148.07	136.48
(f) Financoal Assets (i) Investments	329.56
(ii) Loans	158.16	319.32 86.41
(iii) Other Financial Assets	140.17	144.84
(g) Deferred tax assets (Net)
(h) Other non-current assets	1.72	70.00
Total Non-current Assets	2,149.81	2,159.22
2 Current Assets
(a) Inventories	501.50	498.33
(b) Financial Assets
(i) Investment s
(ii) Trade receivables	3,317.64	3,499.65
(iii) Cash and cash equivalents	183.75	249.63
(iv) Bank balances other than (ii) above	270.40	266.62
(v) Loans
(vi) Other Financial Assets
(c) Current Tax Assets (Net)	71.88	1.27
(d) Other current assets	117.03	99.33
Total Current Assets	4,462.20	4,614.83
TOTAL ASSETS	6,612.01	6,774.05
II EQUITY AND LIABILITIES 1 Equity
(a) Equity Share capital	1,106.71	1,105.92
(b) Other Equity	3,367.49	3,048.70
(c) Non-Controlling Interest	8.97	6.10
Total Equity	4,483.17	4,160.73
2 LIABILITIES
Non-current Liabilities
(a) Financial Liabilities
(i) Borrowings	421.85	365.37
(ii) Lease Liabilities		8.88
(iii) Other financial liabilities
(b) Provisions (c) Deferred tax liabilities (Net)	4.86 8.69	4.86 10.41
(d) Other non-current liabilities
Total Non-current Liabilities	435.40	389.53
3 Current Liabilities
(a) Financial Liabilities
(i) Borrowings (ii) Trade payables	537.31	354.72
·Total outstanding dues of micro and small enterprises		5.01
·Total outstanding dues of trade payables other than micro
and small enterorises	315.52	1,229.71
(iii) Lease Liabilities	4.61	0.33
(iv) Other financial liabilities	669.55	388.43
(b) Other current liabilities (c) Provisions	91.05 75.39	183.97 61.61
(d) Current Tax Liabilities (Net)
Total Current Liabilities	1,693.43	2,223.79
TOTAL EQUITY AND LIABILITIES	6,612.01	6,774.05

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INITIALED FOR IDENTIFICATION 1 For,Devl ationTechno ogyLom ted l , 3Y .·, ~~\oN ~ 't\A ~. 00\f r P-J ~~~ ~ ^l~ ' ~E:- ~ ~~.J. Shah PranavPandya CO J ,':"?.\ !Din : 00021880) (Din : 00021744) _ RINKESH SHAH & • \ ',:. AHt IW BA~:-1anaginijrector Chairman

Place: Ahmedabad Harshll H.Shah Date: November 07,2023 Chief Financial Officer

~ --<<> 0..

				(' in Lakhs)
Particulars		Half Year ended September 30, 2023		Half Year ended September 30, 2022
	(Unaudited)		(Unaudited)
A. Cash Flow from Operating Activities
Profit Before Tax Adjustments for		463.78		328.40
Depreciation and Amortisation Expense	57.30		58.78
Finance Cost	69.07		67.03
Effect of fair valuation of investments	(10.23)
Unrealised Forex Loss/(Gain)	(6.32)		(45.83)
ESOP Expense for the year	21.59		Ŷ.
FVTPL (Preference Shares)	$\bullet$		٠
Loss/(Profit) on sale/dismantling of ass	(29.24)		(0.00)
Interest & Dividend Income	(19.03)		(21.98)
Sundry Balances written back	9.06		12.27
Actuarial gains/ (losses) on post	(1.07)		Ω
employment defined benefit plans
Impairment of Trade Receivable	$\ddot{\phantom{0}}$		(0.45)
Provision for Doubtful Debts	4.53		×
Net Loss / (Gain) on sale / fair valuation	$\blacksquare$		(0.76)
Miscellaneous Income
		95.66 559.44		69.06 397.46
Operating Profit Before Working Capital Changes Working Capital Changes
Adjustments for
(Increase)/Decrease in trade receivables	193.63		(539.38)
(Increase)/ Decrease in other receivables	55.25
(Increase)/Decrease Inventories	(3.17)		(39.67)
Increase/ (Decrease) in Trade payables	(919.20)		(677.43)
Increase/ (Decrease) in financial and othe	142.51
		(531.00)		(1, 256.48)
Cash Generated from Operating Activities		28.45		859.02
Direct taxes paid (Net of Refund)	(187.62)		(71.83)
		(187.62)		(71.83)
Net Cash from Operating Activities		(159.17)		(930.85)
B. Cash Flow from Investing Activities
Purchase of Property, Plant & Equipments and Inta	(49.21)		(63.15)
Proceeds from sale of Tangible Assets Goowill on purchase	39.61		0.36
Adj on Reserves of Subsidiary	$\overline{\phantom{a}}$
Investment in Subsidiary
Sale / Redemption / (Purchase) of Investments (Net	(81.98)		0.76
Payment of Security Deposit / EMD
Changes in Bank balances other than cash equivale	(3.78)
Interest & Dividend Received	19.03		21.98
Net Cash (used in) Investing Activities		(76.33)		(40.05)
C. Cash Flow from Financing Activities
Proceeds from exercise of share options	9.41		G.
Payment of Dividend	(4.93)		(5.13)
Proceeds from borrowings	239.07		342.64
Payment of Lease Liability	(4.86)		(2.46)
Finance Cost	(69.07)		(67.03)
Net Cash (used in) Financing Activities		169.62		268.01
Net increase / (decrease) in cash and cash equivalents		(65.89)		(702.89)
Cash and cash equivalents at the beginning of the year		249.63		883.25
Cash and cash equivalents at the end of the year		183.75		180.36
The above Cash Flow Statement has been prepared under the "Indirect Method " as set out in the Accounting Standard-3 on Cash
Flow Statement as Accounting Standard specified under section 133 of the Companies Act, 2013 read with rule 7 of the Companies
ALED FOR IDENTIFICATION

"LEO fOR \0 ^t~\,-~ CO. 9: ' <;l M~nag ns ESI'I sHAll & ~ '""'""•o o '" Chairman ~NK ~ \$ 0 C>- "1~ • v ^~Place: Ahmedabad Harshll H.Shah rlsa Pat

"' "· ~t·'·~;;f.-7 -· EN1'\f\C"1'\0 ' C'{ ~ c_.:, /~' ^Nr~c J. Shah ~~Pandya ~ ~~ -\$--1-: (Din : 00021880) (Din : 00021744) Date: November 07,2023 Chief Financial Offic Com ny Secretarv