AI assistant
DEV INFORMATION TECHNOLOGY LIMITED Interim / Quarterly Report 2025
59295_rns_2025-02-07_ff0e2a94-c194-4020-ac6b-628e8576a37d.pdf
Interim / Quarterly Report
Open in viewerOpens in your device viewer
www.devitpl.com | [email protected]
Offices: Gujarat | Maharashtra | Rajasthan | Canada CIN: L30000GJ1997PLC033479
| To, | To, |
|---|---|
| The Manager-Listing Department, | The Secretary, |
| The National Stock Exchange of India | BSE Limited |
| Limited, | Phiroze Jejeebhoy Towers, |
| Exchange Plaza, Plot No. C/1, G-Block, | Dalal Street |
| Bandra Kurla complex, | Mumbai -400001 |
| Bandra East, | |
| Mumbai-400 051 | |
| Trading Symbol: 543462 | |
| Trading Symbol: DEVIT |
Dear Sir/Mam,
Subject: Outcome of Board Meeting held on Friday, February 07, 2025: Ref.: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
With reference to the captioned subject, we would like to inform you that the Board of Directors of Dev Information Technology Limited in its meeting held on Friday, 07 th February, 2025 at 04:00 P.M. at the registered office of the company at 14, Aaryans Corporate Park, Near Shilaj Railway Crossing, Thaltej-Shilaj Road, Thaltej, Ahmedabad-380 059, inter alia, discussed and approved following businesses:
1. Considered and approved unaudited standalone and consolidated financial results for the Third Quarter ended on December 31, 2024 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 and on Company's website at https://www.devitpl.com/.
The Board Meeting Concluded at 05:30 P.M.
Kindly take this information on your records.
Thanking you, On behalf of Board of Directors DEV INFORMATION TECHNOLOGY LIMITED
KRISA KAIRAV SHAH
pseudonym=CDCD7FC7D81194322A5D754479A99121, 2.5.4.20=85084771729dcbf53eeb59ca8816c302300d8440c b27e3444c7c94d4181b4266, postalCode=380007, st=Gujarat, serialNumber=0D148FB642AD1A5177D6AC789F641CE2A4 6A0172B9661A7716658794938A1AF0, cn=KRISA KAIRAV SHAH Date: 2025.02.07 17:36:57 +05'30'
Digitally signed by KRISA KAIRAV SHAH DN: c=IN, o=Personal, title=2582,
Krisa Shah Company Secretary & Compliance Officer Place: Ahmedabad Date: 07 th February, 2025
Independent Auditor's review report on Unaudited quarterly and Year to Date Unaudited Standalone Financial Results of the company pursuant to Regulation 33 of the SEBI (ListinR Obligations and Disclosure Requirements) ReRubtions, 2015, as amended
Review Report to the Board of Directors of Dev Information Technology Limited
-
- We have reviewed the accompanying statement of unaudited standalone financial results of Dev Information Technology Limited ("the oompany") for the Quarter ended December 31, 2024 and Year to date results for the period April 01, 2024 to December 31, 2024 ("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").
-
- Tbis 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" ("Ind AS W') 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.
-
- We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, "Review of interim Financial information Performed by the independent Auditor of the Entitf issued by the Institute of Chartered Accountants of India. Ibis 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.
-
- 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 the relevant Indian Accounting Standards ("Ind AS"), as 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.
Place: Ahmedabad Date: February 07, 2025
For, Rinkesh Shah & Co. Chartered Accountants FRN, 1296DOW
bAg/}{
CA Rinkesh Shah Partner MembershIp No. 131783 UDIN: 25131783BMG)219774
Ahmedabad : 701, 702, 703, Suyojan Building, President Hotel Lane, Off C.G. Road, Ahmedabad, India - 380009 Mumbai : 105, lst Floor, Shree Samarth Plaza, Near Ganatra Hospital, Mulund West, Mumbai, India - 400080
E : [email protected] W : www.rinkeshshahandco.com
r
DEV INFORMATION TECHNOLOGY LIMITED
Registered Office: 14, Aaryans Corporate Park, Near Shilaj Railway Crossing,Thaltej – Shilaj Road, Thaltej, Ahmedabad – 380059
Statement of Standalone Unaudited Financial Results for the Quarter & Nine month ended on December 31,2024
| Rs. in Lakhs except EPS | ||||||||
|---|---|---|---|---|---|---|---|---|
| QUARTER ENDED | NINE MONTH ENDED | YEAR ENDED | ||||||
| Particulars | 12/31/2024 | 9/30/ 2024 | 12/31/2023 | 1 | 3/31/2a24 | |||
| (Unaudited) | (Unaudited) | (Unaudited) | a | {Audited) | ||||
| I | Revenue from operations | 4,245.02 | 3, j02.04 | 3,071 . 79 | 6 | 15,728.30 | ||
| 11 | Other Income | 39.87 | 1,182.41 | 26.03 | 1,247.4T9 | 95.96 | 141.53 | |
| 111 | 4,284.89 | 4,384.45 | 3,097.82 | 7 | 15,869.83 | |||
| IV | Expenses | |||||||
| a | 1,869.17 | 723.99 | 985.75 | 3,598.50 | 5,776.72 | 7, 195.53 | ||
| ) 1d stock-in. trade |
3.15 | 498.76 | (8.21) | 75.25 | (11.38) | (135.42) | ||
| mc | 1,901.23 | 1,893.27 | 1,740.64 | 5,633.73 | 5,119.43 | 6,909.51 | ||
| in T=m | 41.60 | 37.67 | 29.90 | 121.02 | 87.26 | 121.38 | ||
| n}==im | 57.19 | 56.63 | 31.78 | 170. 10 | 87.35 | 123.53 | ||
| Other expenses | 139.15 | 112.69 | 121.24 | 359.28 | 358.56 | 483.68 | ||
| Total expenses (IV) | 4,011.49 | 3,323.01 | 2,901.10 | 9,957.88 | 11,417.94 | 14,698.21 | ||
| V | Profit before exceptional items and tax (III.IV) | 273.40 | 1,061.44 | 196.72 | 1,756.04 | 638.58 | 1,171.62 | |
| VI | Exceptional Items | |||||||
| VII | Profit Before Tax (V - VI) | 273.40 | 1.061.44 | 196.72 | 1,756.04 | 638.58 | 1,171.62 | |
| VIII | Tax expense : | |||||||
| LL | 86.62 | 176.00 | 34.54 | 337.62 | 148.54 | 287.30 | ||
| b) Deferred Tax Liability / (Assets) | (7.66) | ( 28.851 | 3.80 | (21.46) | 2.34 | 14.27 | ||
| c) Adjustment of tax for Earlier Years | (15.05) | (6.98) | (15.05) | (6.98) | (6.98) | |||
| Total Tax Expenses (VIII) | 63.91 | 147.15 | 31.36 | 301.11 | 143.90 | 294.59 | ||
| IX | Profit for the period (VII.VIII) | 209.49 | 914.29 | 165.36 | 1,454.93 | 494.68 | 877.03 | |
| Other Comprehensive'Income (net of taxes) | ||||||||
| ) {Items that will not be reclassifiemrm=-M | ||||||||
| Tax effect on above items | ||||||||
| a) RerneasOrenlents of the m-;em= | (4.51) | (4.50) | (0.54 ) | (13.52) | (1.61) | ( 18.02) | ||
| b) Changes in Fair Value of Investments | 8.13 | |||||||
| Income tax relating to ===iFa profit or loss |
1.13 | 1.15 | 0.14 | 3.40 | 0.41 | 2.49 | ||
| X | Total Other comprehensive income for the period | (3.38) | (3.35) | (0.40) | (10.12) | {r.2a) | (7.40) | |
| XI | Total comprehensive income for the period (IX + X) | 206.11 | 910.94 | 164.96 | 1,444.81 | 493.48 | 869.63 | |
| XII | m Paid up equity share capital (face value of Rs. 5 per share) |
1,126.70 | 1, 124.23 | 1,106.71 | 1,126.70 | 1,106.71 | 1, 124.23 | |
| XIII | uity excluding RevamMi | 4,456.40 | ||||||
| XIV | Earnings per share (of Rs. 5/- each) (not annualised): | |||||||
| Basic | 0.93 | 4.07 | 0.75 | 6.47 | 2.24 | 3.96 | ||
| Diluted | 0.95 | 4.06 | 0.75 | 6.47 | 2.23 | 3.94 |
//g'fR 5/ -mation Technology Limited
Harshil Shah Chief Financial Officer
Chair rn an
Place: Ahmedabad Date: February 07, 2025
N R IDENTIFiCATiON RINKESH SHAH & CQ
Notes
-
- 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 meeting held on February 07, 2025. The limited review as required under Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 has been completed by the statutory auditors of the company.
- The Unaudited standalone financial results for the Quarter and Nine month ended December 31, 2024 have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable 2
- 3 The Company operates in a single segment and in line with Ind 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.
- upto December 31, 2024 and the published unaudited figures for the half year ended period upto September 30, 2024 which were subjected to limited review, 4 The unaudited standalone figures for the quarter ended December 31, 2024 are the balancing figures between the unaudited figures in respect of the nine months period
- 5 The company divested 28,74,190 equity shares of Dev Accelerator Limited in September 2024 for a consideration of Rs. 1163.68 lakhs WhICh has resulted into a gain of Rs.1163.62 lakhs which is shown under the head "Other Income". The company, after the transfer of the above shares, still holds 21.90% of Equity shares of the said company as on December 31, 2024.
- 6 Ihe company has allotted 49,414 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 October 26, 2023. The same have been credited and transferred on the permanent ISIN and have got listed on both the stock exchanges on January 02, 2025.
- 7 The Board of Directors of the Company at their meeting held on November 25, 2024 have approved the sub-division of each equity share having a face value of Rupees 5(five) each fully paid.up, into equity shares having a face value of Rupees 2(two) each,
- On December 20,2024 the approval of the shareholders of the Company was obtained at the Extra Ordinary General Meeting through ballot papers and electronic voting means with the requisite majority. The record date for the sub-division of shares shall be announced in the ensuing board meeting,
- 8 The figures of previous quarters / year are reclassified. regrouped and rearranged wherever necessary so as to make them comparable with current period's figures,
Ja (DIN : 00021880)
/, vP (Dlr\1 : oo02r7'a)
formation Technology Limited
Place: Ahmedabad Date: February 07, 2025
Harshil Shah Chief Financial Officer Company Secretary
-+
Indepmdmt AudItor's review report on quarterly and Year tD Date Unaudited Cbnsolldated Financial ResuIB af Me company Pursuant Ba ReRuhtlan 33 of the SEBI (UstlnR Cbllptlons and DIscIosure Requirements) RegulatiorB, 2015, as amended
To The Board of Directors of Dev Informgtjon Technology LimIted
-
- We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Dw InformatIon Technology Umltnl (the "Holding Company"}, its subsidiaries (the Holding CompanY and Its subsidiaries together referred to as "the Group") and associate entity for the quarter and nine months ended December 31, 2024 and Year to Date +om April 01, 2024 to December 31, 2024 (the "Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of ttn SEBI (Listing Obligations and Disclosure Requirements) Regulations. 2015, as amended (the "Listing Regulations")'
- 2, This Statement, which is the responsibility of the HoldirB Company's Management and approved bY the Holding Companys Board of Directors/ has been prepared in accordance with the recognition and measurement prIncIples laid down in the Indian AaQunting Standard M "InterIm FinarElal Reporting' ("Ind AS 34")1 prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other amounting principles generally aaepted in India and is in compliance with the presentation and dIsclosure requIrements of Regulation 33 of the LIstIng RegulatIons. Our responsIbIlity is to express a conclusion on the Statement based on our review.
-
- We conducted our review of the Statement in accordance with the Standard on Review Engagements tSRE) 2410 fReview of Interim Financial Information Performed by the Independent Auditor of the EntitYp issued bY the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of makirB inquiries, prirnarily of the Company's personnel 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 rnight be identified in an audit. Accordingly, we do not express an audit opinion.
We also performed procedures in accordance with the Circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicatle.
- The Statement includes the results of the following entities:
Subsidiaries: 1. Dev InfaTech North America Limited
-
- Minddefft Technologies Private Limited
-
- Dhyey Consulting Services Private Limited
-
- Dynarnics Stars LLC
Associate: Dev /kcelerator Limited
Ahmedabad : 701, 702, 703, Suyojan Building, President Hotel Lane, Off C.G. Road, Ahmedabad, India - 380009 Mumbai : 105, lst Floor, Shree Samarth Plaza, Near Ganatra Hospital, Mulund West, Mumbai, India - 400080
E : [email protected] \V : www.rinkeshshahandco.com
bx
-
- Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to tnlieve that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the Ind As 34, prescribed under section 133 of the Act 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 ObIIgatIons and DIsclosure RequIrements) RegulatIons, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement,
-
- We did not review the interim financial information of Four (4) subsidiaries and One (1) associate entity included in the consolidated financial statements. The Statement includes the interim financial result and other financial information in respect of:-
- Two (2) Indian subsidiaries, whose financial statements includes total revenues of Rs, 449.50 lakhs and Rs. lzUtO.M lakhs, total net profIt after tax of Rs. (3.99) lakhs and Rs. (33.A)) lakhs and total comprehensive Income of Rs. (3.95) lakhs and Rs ( A.50) lakhs for the quarter ended December 31, 2024 and nine months ended December 31, 2024 resputively as considered in the statement whose interim financial information/financial results have been not been reviewed by its auditor.
- Two {2) Foreign subsidiaries, whose financial statements includes total revenues of Rs. 573.81 lakhs and Rs. 1550.43 lakhs, total net profit after tax of Rs. (23.82} }akhs and Rs. (56.49) lakhs and total comprehensIve income of Rs. (25.33) lakhs and Rs. {57,23) lakhs for the quarter ended December 31, 2024 and nine rnonths ended Decemknr 31, 2024 as considered in the statement whose interim financial inforrnation/6nancial results have been not been revIewed by Its audItor. The COmpany's management has converted the financial statements of both subsidiaries located outside India &om the aaounting principles generally accepted in their respective countries to the accounting principles generally accepted in India.
- One (1) Associate whose financial statements include Group's share of Net Loss of Rs. Nil and Total Comprehensive income of Rs. Nil for the quarter and nine months ended December 31, 2024 as considered In the statement whose InterIm flnandal Information/Hnancial resuIB have been not been reviewed by its auditor
Affording to the information and uplanations given to us by the Holding Company's Management, these interim financial information are not material to tIe Group.
Our opinion on the Statement in resFxct of matters stated above is not modified with respect to our reliance on the work done, review reports of other auditors and the financial results certified by the Management.
For, Rlnkesh Shah & Ch. Cllarterul Jkeourttants FRN. 129690W
CA Rlnkesh Shah Partner MembershIp nb. 131783 UDIN: 25131783BMG}a18435
F4•ae: Ahrrndab•d Date: February Q7, 2025
Page 2 of 2
DEV INFORMATION TECHNOLOGY LIMITED
Sg DEV Registered Office: 14, Aaryans Corporate Park, Near Shilaj Railway Crossing Thaltej - Shilaj Road, Thaltej, Ahmedabad - 380059
Statement of Consolidated Unaudited Financial Results for the Quarter and Nine month ended December 31, 2024
| QUARTER ENDED | in Lakhs except EPS) ( Rs NINE MONTH ENDED |
||||||||
|---|---|---|---|---|---|---|---|---|---|
| Particulars | 12/31/2024 T–– | YEAR ENDED | |||||||
| 12/31/2024 al |
9/30/2024 IIMImc I |
12/31/2023 [Unaudited: |
a jr |
M | 3/31/2024 [Audited |
||||
| I | R;v=enm | operations | 4,771.17 | 3,5933 | 3, 173.52 | 9 | 16, 357.56 | ||
| 11 | Other Income | 43.85 | 1, 230.60 | 23.46 | 1 | 154.01 | |||
| 111 | Total Income (1+I1) | 4,815.02 | 4,824.49 | 3,196.98 | 3 | 16,511.57 | |||
| IV | Expenses | ||||||||
| a | 2 | 795.91 TWo | 7,202.59 | ||||||
| (b) R | e of stock in trade | 33.85 | |||||||
| (c) e | == trade |
3.15 | 498.76 | (8.21) | 75 25 | (11.38) | ( 135.42) | ||
| c | - | :.liS.22 | 2.207.14 | 1.769.00 | 6,442 06 | S,298.68 | 7, 224.74 | ||
| e | 51.36 | 98.62 | 32.62 | 201.88 | 101.69 | 141.77 | |||
| e | 70.32 | 79.45 | 33.23 | 224.97 | 90.53 | 139.97 | |||
| e | = 6:si | 199.60 | 170.51 | 586.96 | 488.37 | 654.71 | |||
| Total expenses (IV) | 4.592.65 | 3,879.48 | 2,995.22 | 11,566.37 | 11,449.12 | 15,262.21 | |||
| V | Profit before exceptional items and tax (III.IV) | 222.37 | 945.01 | 201.76 | 1,646. 14 | 665.54 | L249.36 | ||
| VI | Exceptional Items | ||||||||
| Share of profIt/(loss) of an associate, | |||||||||
| VII | [ Profit Before Tax (V - VI) | 2 | 201.76 | 1,646.14 | 665.54 | 1,249.36 | |||
| VIII | Ex expense | ||||||||
| a) Current Tax | 165.42 | 34.87 | 337.62 | 151.87 | 297.36 | ||||
| b) Deferred Tax LiabiIIty / (Assets) | (31.52) | 2.80 | (32.30) | 1.34 | 11.69 | ||||
| c) Adiustment of tax fc Mm |
:6 98 | (23.70) | (6.98: | (7.26 | |||||
| Total Tax Expenses (VIII) | 133.90 | 30.69 | 281.62 | 146.23 | 301.79 | ||||
| IX | [ | 181.66 | 811.11 | 171.07 | 1,364.52 | T9.31 | 947.57 | ||
| Other Comprehensive Income (net of taxes) | |||||||||
| terns that WIll be reclasslfled to profIt or == | liE1llM | do | 0.80 | U) | 0.80 | (4.69) | |||
| Tax effect on above items | (0.20) | HO | |||||||
| Items that v/iII not be rem:ciTi–pInT (a)Remeasurements of the mi;m> |
|||||||||
| (4.45) | (5.03) | (0.54) | (14.31) | (1.61) | (20.35) | ||||
| (b)Cnanges in Fair Value of Investment | 8.13 | ||||||||
| that will not be Income tax relating to items reclassified to profit or loss |
1.12 | 1.28 | 0.14 | 3.60 | 0.41 | 3.07 | |||
| X | rotal Other comprehensive income for the period | (4.84) | (4.25) | 0.20 | (11.45) | (0.60) | (13.84) | ||
| Total comprehensive income for the period (IX + X) | 176.82 | 806.86 | 171.27 | 1,353.07 | 518.71 | 933.74 | |||
| Profit for the period attributable to: | |||||||||
| Owners of the Company Non controlling in Mt |
172.67 | 838.70 | 169.78 | 1,364.82 | 514.75 | 928.79 | |||
| 8.99 | a2 | 1.29 | _(0.30) | 4.56 | 18.78 | ||||
| XIII | Other Comprehensive Income (Net of Tax) for the peri attributable to |
||||||||
| Owners of the Company | (4.93) | (3.49) | 0.05 | (11.49) | (0.75: | (12.68) | |||
| Non controlling interest | 0.09 | &76) | 0.15 | 0.04 | 0.15 | ||||
| Total Comprehensive Income (Net of Tax) for the peri' | Ul | ||||||||
| XIV | attributable to | ||||||||
| O'.vners of the CTi;any | 167.74 | 835.21 | 169.82 | 1.353.33 | 513.99 | 916.12 | |||
| Non controlling interest | [28.35) | 1.45 | (0.26) | 4.72 | 17.62 | ||||
| XV | I' dTd UP equIty share capItal (face value- iii;-i==ii | 9.08 W o | 1,124.23 | 1,106.71 | 6 | D06.71_ | 1,124.23 | ||
| XVI | Other equity excludIng Revaluation Reserve | 4,420.90 | |||||||
| XVII | a | /- each) (not annualised) | |||||||
| Basic | 0.77 | 3.74 | 0.77 | 6.07 | 2.33 | 4.19 | |||
| Diluted | 0.79 | 3.73 | 0.77 | 6.07 | 2.32 | 4.18 |
ifi:
Harshil Shah Chief Financial Officer
For Dev Drrrll ltion Technology Limited
bak,
Company Secretary
Place : Ahmedabad Date February 07, 2025
I F=- - FSN g §w& ; tA f BY RINKESH SHAH & CO
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 meeting held on February 071 2025. The limited review as required under Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 has been completed bY the statutorY auditors of the company.
- The consolidated financial results include unaudited financial results of the following entities Subsidiary:- Dev Info.Tech North America Limited II. Subsidiary:. Minddefft Technologies Private Limited III.Subsidiary:- Dhyey Consulting Service Private Limited IV Subsidiary:. Dynamic Stars LLC V.Associate :- Dev Accelerator Limited 2
- The Unaudited consolidated financial results for the Quarter and Nine month ended December 31. 2024 have been prepared 'n accordance with the Companies tlndian Accounting Standards> Rules' 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent appllcable' 3
- The Unaudited Consolidated financial results for the Quarter and Nine month ended December 31, 2024 are prepared in accordance with principles and procedures as set out in the Ind AS 110 Consolidated Financial Statements" prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder
- 5 The group operates in a single segment and in line with Ind AS - 108 - "Operating Segments"f the operation of the group fall under "IT & IT enabted Services" business which is considered to be the onIY repc.rtable business segment. The activities carried out by the associate are not reviewed separately and the criteria for identifying operatinb segments are not met hence Segment Reporting is not applicable in respect of the Associate Company.
- 6 The unaudited consolidated figures for the quarter ended December 31, 2024 are the balancing figures between the unaudited figures in respect of the nine months period UPto December 31' 2024 and the published unaudited figures for the half year ended period upto September 30, 2024 which were subjected to IImited revIew
- 7 The c"mpa"y has allotted 49,414 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 Or1 October 26. 2023. The same have been credited and transferred on the permanent ISIN and have got listed on both the stock exchanges on January 02, 2025,
- 8 1h,p ,omp,.y di"est,d 28,74.190 eq,ity sha,es of Dev Accele,ato, Limited i. September 2024 for a consideration of Rs. 1163.68 lakhs which has resulted into a gain of Rs.1163.62 lakhs which is shown under the head "other Income". The company, after the transfer of the above shares, still holds 21.90% of Equity shares of the said companY as on December 31, 2024'
- The Board of Dlrectors of the Company at their meeting held on November 25, 2024 have approved the sub'division of each equitY share having a face value of Rupees S(five) each fulIY paid'up' into equity shares having a face value of Rupees 2(two) each,
- On December 20,2024 the approval of the shareholders of the Company was obtained at the Extra Ordinary General Meeting through ballot papers and electronlc voting means with the requlsite majority. The record date for the sub-division of shares shall be announced in the ensuing board meeting,
- 10 The figures of previous quarters / year are reclassified, regrouped and rearranged wherever necessary so as to make them comparable with current period's figures'
(DIN , 00021880) thO
Harshil Shah Chief Financial Officer
Formation Technology Limited
big:h- Company Secretary
Place : Ahmedabad Date February 07, 2025