Penny stock under Rs 50 with Rs 50 crore order book: IT company receives order of Rs 65,00,000 from Gujarat Informatics Ltd (GIL)
DSIJ Intelligence-1 / 03 Sep 2025/ Categories: Penny Stocks, Trending
The is up by 25 per cent from its 52-week low of Rs 35.26 per share and gave multibagger returns of 312 per cent in 5 years.
DEV Information Technology Ltd (DEVIT) has been awarded a significant domestic contract by Gujarat Informatics Limited (GIL), the IT entity for the Government of Gujarat's Department of Science and Technology. The project involves deploying a Microsoft Office suite and other office automation tools at the Chief Minister's Office in Gujarat. The primary goal of this implementation is to enhance the analytical and review capabilities of the reports generated by the office.
This fixed-cost project is valued at approximately Rs 65 lakh and has a projected completion timeline of around six months. The contract underscores DEVIT's role in providing crucial IT solutions to government bodies, supporting the state's efforts to modernise and improve administrative efficiency through enhanced data analysis and reporting capabilities.
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About the Company
Founded in 1997, Dev IT has grown from a small-scale software provider to a global IT powerhouse. With a strong foundation in India and offices worldwide, the company offers many services, including cloud solutions, digital transformation, and enterprise applications. Known for its commitment to innovation and quality, Dev IT empowers businesses with cutting-edge technology. Their products, such as Talligence and ByteSIGNER, provide valuable tools for data analysis and document management. By understanding their clients' unique needs, Dev IT delivers tailored solutions that drive business growth and success.
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According to the Quarterly Results, the revenue increased by 21.2 per cent to Rs 42.99 crore and net profit decreased by 41.2 per cent to Rs 2.18 crore in Q1FY26 compared to Q1FY25. In FY25, net sales increased by 4 per cent to Rs 171 crore and net profit increased by 67 per cent to Rs 15 crore compared to FY24.
The company's stock ex-traded stock split/sub-division of its equity shares on August 21, 2025, with each existing share of face value Rs 5 splitting into two shares of face value Rs 2. The company has a market cap of over Rs 250 crore and has an order book of Rs 50 crore. The is up by 25 per cent from its 52-week low of Rs 35.26 per share and gave multibagger returns of 312 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.