Dev Accelerator
DEVX NSE
Dev Accelerator
Commercial ServicesNSE: DEVX BSE: 544513 Diversified Services
Key Fundamentals
MicrocapDiversified ServicesCommercial ServicesMarket Cap
₹298 Cr
Volatility
Moderate
P/E Ratio
30.13
EBITDA
₹109 Cr
Return on Equity
3.23%
Debt to Equity
2.05
Book Value
₹21.35
52W High
₹64.05
52W Low
₹29.95
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Debtor days have improved from 60.4 to 44.1 days.
Weaknesses
5- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Promoter holding has decreased over last quarter: -1.73%
- Promoter holding is low: 35.1%
- Company has a low return on equity of 5.98% over last 3 years.
Growth Rate
Revenue Growth
26.99% lower than
3Y
Net Income Growth
672% higher than
3Y
Cash Flow Change
—
ROE
113% higher than
3Y
ROCE
62.85%
EBITDA Margin (Avg.)
-17.11% higher than
3Y
Quarterly Results
| Particulars | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 24.91 | 34.47 | 49.75 | 65.4 | 55.63 | 51.84 | 59.2 | 59.26 | 53.77 |
| Expenses | 10.9 | 16.34 | 25.67 | 34.09 | 29.24 | 25.42 | 35.29 | 26.78 | 23.49 |
| Operating Profit | 14.01 | 18.13 | 24.08 | 31.31 | 26.39 | 26.42 | 23.91 | 32.48 | 30.28 |
| OPM % | 56.24% | 52.6% | 48.4% | 47.87% | 47.44% | 50.96% | 40.39% | 54.81% | 56.31% |
| Other Income | 0.22 | 14.33 | 2.26 | 2.94 | 1.32 | 2.71 | 2.85 | 2.94 | 2.97 |
| Interest | 8.76 | 11.38 | 12.21 | 15.18 | 12.26 | 12.64 | 9.25 | 10.28 | 14 |
| Depreciation | 11.13 | 14.44 | 13.32 | 16.54 | 14.51 | 14.8 | 14.94 | 14.64 | 17.68 |
| PBT | -5.66 | 6.64 | 0.81 | 2.53 | 0.94 | 1.69 | 2.57 | 10.5 | 1.57 |
| Tax % | 5.48% | 6.02% | 13.58% | 16.6% | 85.11% | -3.55% | 139.3% | 24.1% | 4.46% |
| Net Profit | -5.97 | 6.24 | 0.69 | 2.12 | 0.14 | 1.76 | -1.01 | 7.96 | 1.5 |
| EPS in Rs | -4,295 | 0.93 | 0.1 | 0.31 | 0.02 | 0.2 | -0.11 | 0.88 | 0.16 |
Profit & Loss
| Particulars | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|
| Sales | 31 | 70 | 108 | 159 | 226 | 224 |
| Expenses | 17 | 40 | 43 | 78 | 117 | 111 |
| Operating Profit | 14 | 30 | 65 | 80 | 109 | 113 |
| OPM % | 45% | 43% | 60% | 51% | 48% | 50% |
| Other Income | 0 | 2 | 3 | 19 | 10 | 11 |
| Interest | 7 | 17 | 31 | 45 | 44 | 46 |
| Depreciation | 15 | 30 | 45 | 52 | 59 | 62 |
| PBT | -8 | -16 | -9 | 3 | 16 | 16 |
| Tax % | -9% | -20% | -105% | 34% | 44% | — |
| Net Profit | -8 | -13 | 0 | 2 | 9 | 10 |
| EPS in Rs | -6,954 | -10,516 | 316 | 0.26 | 0.98 | 1.13 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 0.01 | 13 | 18 |
| Reserves | -6 | -2 | 25 | 38 | 164 |
| Borrowings | 89 | 239 | 328 | 389 | 374 |
| Other Liabilities | 18 | 46 | 57 | 100 | 88 |
| Total Liabilities | 101 | 282 | 411 | 540 | 644 |
| Fixed Assets | 79 | 228 | 269 | 293 | 261 |
| CWIP | 0 | 0 | 0 | 0 | 70 |
| Investments | 1 | 1 | 9 | 53 | 39 |
| Other Assets | 21 | 54 | 133 | 193 | 274 |
| Total Assets | 101 | 282 | 411 | 540 | 644 |
Cash Flow
| Particulars | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating | 14 | 26 | 8 | 94 | 90 |
| Investing | -7 | -24 | -41 | -66 | -121 |
| Financing | -6 | -4 | 33 | -25 | 49 |
| Net Cash Flow | 1 | -1 | 0 | 3 | 18 |
| Free Cash Flow | 7 | 2 | -26 | 82 | -8 |
| CFO/OP | 107 | 93 | 16 | 130 | 83 |
Ratios
| Particulars | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Debtor Days | 23 | 19 | 40 | 97 | 44 |
| Cash Conversion Cycle | 23 | 19 | 40 | 97 | 44 |
| Working Capital Days | -213 | -265 | -146 | -102 | -23 |
| ROCE % | — | 1% | 8% | 12% | 12% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Dev Accelerator insights
45 extracted metrics + investor summaries across FY22–FY26.
Documents
1
Monthly Newsletter - April 2026 Edition
7 May - April 2026 newsletter highlights awards, industry trends, events, and plans for a Bangalore centre. 7 May - April 2026 newsletter highlights awards, industry trends, events, and plans for a Bangalore centre.
2
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
29 Apr - Dev Accelerator disclosed Rs. 135.12 crore borrowing and confirmed it is not a large corporate. 29 Apr - Dev Accelerator disclosed Rs. 135.12 crore borrowing and confirmed it is not a large corporate.
3
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
29 Apr - Dev Accelerator disclosed Rs. 135.12 crore borrowing and confirmed it is not a large corporate. 29 Apr - Dev Accelerator disclosed Rs. 135.12 crore borrowing and confirmed it is not a large corporate.
4
Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot
23 Apr - Members approved preferential issue of convertible warrants to promoters and equity shares on April 23, 2026. 23 Apr - Members approved preferential issue of convertible warrants to promoters and equity shares on April 23, 2026.
5
Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
23 Apr - Shareholders approved preferential issue of convertible warrants and equity shares on April 23, 2026. 23 Apr - Shareholders approved preferential issue of convertible warrants and equity shares on April 23, 2026.
Frequently Asked Questions about Dev Accelerator
What does Dev Accelerator Ltd do?
Established in 2017, Dev Accelerator Limited, commonly known as DevX, provides flexible office spaces, including coworking environments[1]
Where is Dev Accelerator Ltd (DEVX) listed?
Dev Accelerator Ltd trades as DEVX on the NSE and under code 544513 on the BSE.
Which sector does Dev Accelerator Ltd belong to?
Dev Accelerator Ltd is classified under the Commercial Services sector, in the Diversified Services industry.
What is the market capitalisation of Dev Accelerator Ltd?
Dev Accelerator Ltd has a market capitalisation of ₹297.62 Cr, which places it in the Small Cap band.
What is the PE ratio of Dev Accelerator Ltd?
Dev Accelerator Ltd trades at a PE ratio of 30.13, against a book value of ₹21.35 per share.
What is the 52-week high and low of Dev Accelerator Ltd?
Over the last 52 weeks Dev Accelerator Ltd has traded between ₹29.95 and ₹64.05.
What is the Return on Equity (ROE) of Dev Accelerator Ltd?
Dev Accelerator Ltd reported a return on equity of 3.23%. Its debt-to-equity ratio is 2.05.
Company Information
Established in 2017, Dev Accelerator Limited, commonly known as DevX, provides flexible office spaces, including coworking environments[1]
Website devx.work
CEO Mr. Parth Naimeshbhai Shah
Employees 166
Listed 2025-09-17
Face Value ₹ 2
Issued Size 9,01,87,515
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