MoneyWorks4Me

Dev Accelerator Ltd (DEVX)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544513 NSE: DEVX IT - Software | Small Cap | Dev Accelerator Share Price

₹40.23 0.69 (1.75%)

As on 07-Oct'26 16:01

Dev Accelerator Ltd (DEVX)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544513 NSE: DEVX IT - Software | Small Cap | Dev Accelerator Share Price

₹40.23 0.69 (1.75%)

As on 07-Oct'26 16:01

Key Metrics
Valuation Multiples
Market Cap
₹374 Cr.
Current Price
₹40.2
52-Week Low / High
₹30 / 54
TTM EPS
₹1.1
TTM Sales
₹224 Cr.
Book Value per Share
₹21.5
P/E Ratio
36.85
Lower than its 5-year historical median
Industry PE
20.1
Price to Book (P/B)
1.84
Higher than its 5-year historical median
Price to Sales (P/S)
1.67
Lower than its 5-year historical median
EV/EBITDA
3.73
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
7.58%
Outperforms industry median
Return on Capital Employed (ROCE)
23.33%
Outperforms industry median
Return on Assets (ROA)
1.52%
Operating Profit Margin
48.5%
Net Profit Margin
3.91%
Gross Profit Margin
32.9%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
34.3%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
36.01%
Net Profit Growth (1 Year)
-
396.63%
Asset Quality
Promoter Holding
35.09%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹185 Cr.
Equity
₹18.9 Cr.
Face Value
₹2
All Time Low / High
₹30.00 / 64.36

Dev Accelerator stock performance

Key Ratios
mw4me loader

Check Before You Invest

Quality

Somewhat Good

Valuation

Somewhat Overvalued

Price Trend

Strong
Q.1 Is Dev Accelerator Ltd a good quality company?
Dev Accelerator Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Dev Accelerator Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Dev Accelerator Ltd vs industry peers?
Dev Accelerator Ltd revenue CAGR is 0.00%, compared to the industry median CAGR of 0.00%, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of Dev Accelerator Ltd?
Promoters hold 35.09% of the Dev Accelerator Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Dev Accelerator Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of -21.69% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Dev Accelerator Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation ⓘ

Mar'13Mar'14Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ0%0%0%0%-5.1%-9.5%5.8%27.4%29.1%21.8%-
Value Creation
Index ⓘ
NANANANANANANA1.01.10.6-

Growth Parameters ⓘ

Sales ⓘ2.60.8008.624.161.298127171174
Sales YoY Gr.--70.7%-100%NANA181.5%154.1%60.1%29.8%34.3%-
Adj EPS ⓘ0000-0.7-1.5-2.30.10.20.30.5
YoY Gr.-NANANANANANANA120%13.6%-
BVPS (₹) ⓘ0000-0.7-1.2-0.44.27.719.520.9
Adj Net
Profit ⓘ
0.1000-3.1-7.5-12.90.61.52.34
Cash Flow from Ops. ⓘ00001.313.527.516.395101-
Debt/CF from Ops. ⓘ00005.111.26.21.31.4-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ59%82%40.8%34.3%
Adj EPS ⓘNANANA13.6%
BVPSⓘNANANA154.5%
Share Price - - - -22.4%

Key Financial Parameters ⓘ

Mar'13Mar'14Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ
141.97.300-497.61036.23594.63.93.51.92.2
Op. Profit
Mgn % ⓘ
4.4-2.70048.859.149.463.359.760.760.8
Net Profit
Mgn % ⓘ
30.900-35.8-31-210.61.21.32.5
Debt to
Equity ⓘ
5.22.90010.7-6.723.83.52.30.8-
Working Cap
Days ⓘ
95286000190186303380342146
Cash Conv.
Cycle ⓘ
42125000-28-56-68-22-3118

Valuation of Dev Accelerator - Consolidated

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'22Mar'23Mar'24Mar'25Mar'26
Sales3170108159226
Operating Expenses > ⓘ + 17404479117
Manufacturing Costs37154864
Material Costs00001
Employee Cost 5781320
Other Costs > ⓘ 1026211733
Operating Profit > ⓘ 14306580109
Operating Profit Margin (%) 45.2%42.6%59.8%50.6%48.4%
Other Income > ⓘ + 0131910
Exceptional Items > ⓘ 00000
Interest > ⓘ 717314544
Depreciation > ⓘ 1530455259
Profit Before Tax > ⓘ -8-16-9316
Tax > ⓘ -1-3-917
Profit After Tax -8-13029
PAT Margin (%) -24.3%-18.4%0.4%1.1%3.9%
Adjusted EPS (₹)-1.5-2.40.10.31.0
Dividend Payout Ratio (%)0%0%0%0%0%
PARTICULARSMar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + -212955186
Share Capital ⓘ 3.593.593.5916.9221.62
Reserves ⓘ -6-22538164
Debt +1232101131145
Long Term Debt1124709981
Short Term Debt18313264
Minority Interest00000
Trade Payables717233937
Others Liabilities ⓘ 83228245302268
Total Liabilities ⓘ 100278398526635

Fixed Assets

Net Fixed Assets ⓘ +79228269293261
Gross Block95274361310349
Accumulated Depreciation1747921688
CWIP ⓘ 000070
Investments ⓘ 1195339
Inventories00000
Trade Receivables24124227
Cash Equivalents 211355
Others Assets ⓘ 1645107134182
Total Assets ⓘ 100278398526635
PARTICULARSMar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + 142689490
PBT ⓘ -8-16-9316
Adjustment ⓘ 2247747894
Changes in Working Capital ⓘ 1-3-5424-19
Tax Paid ⓘ -1-1-3-11-1
Cash Flow From Investing Activity ⓘ + -7-24-41-66-121
Capex -7-24-34-12-98
Net Investments -1-0-8-31-13
Others ⓘ 001-24-10
Cash Flow From Financing Activity ⓘ + -6-433-2549
Net Proceeds from Shares ⓘ 5162724122
Net Proceeds from Borrowing ⓘ 00029-18
Interest Paid ⓘ -7-17-31-72-47
Dividend Paid ⓘ 00000
Others ⓘ -3-337-6-8
Net Cash Flow ⓘ 1-1-0318
PARTICULARSMar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)N/A03.824.667.58
ROCE (%)N/A5.3527.2529.9823.33
Asset Turnover Ratio0.310.370.320.340.39
PAT to CFO Conversion(x)N/AN/AN/A4710
Working Capital Days
Receivable Days2314.6026.2062.2056.20
Inventory Days0.900.90000
Payable Days00000

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Dev Accelerator Ltd FAQs

The current trading price of Dev Accelerator on 07-Oct-2026 16:01 is ₹40.23.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 06-Oct-2026 the market cap of Dev Accelerator stood at ₹374.2 Cr

The latest P/E ratio of Dev Accelerator as of 06-Oct-2026 is 88.23.

The latest P/B ratio of Dev Accelerator as of 06-Oct-2026 is 1.89.

The 52-week high of Dev Accelerator is ₹54.00 and the 52-week low is ₹30.00.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Dev Accelerator is ₹174 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Dev Accelerator Ltd is a average quality company.

The key valuation ratios of Dev Accelerator Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Dev Accelerator Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Dev Accelerator Ltd

Dev Accelerator Limited originally started as a limited liability partnership under the name and style of ‘Dev Accelerator LLP’ on September 14, 2017 under the Limited Liability Partnership Act, 2008, pursuant to a certificate of incorporation issued by the RoC with Rushit Shardulkumar Shah, Umesh Satishkumar Uttamchandani, Parth Naimeshbhai Shah and Dev Information Technology Limited as its partners. Subsequently, Parashwanath Land Organisers LLP joined Dev Accelerator LLP on July 1, 2019. Pursuant to a No Objection Certificate and an Affidavit cum Declaration, from the erstwhile partners of Dev Accelerator LLP dated August 13, 2020, the limited liability partnership was converted into a private limited company and a certificate of incorporation dated September 05, 2020 was issued by the Registrar of Companies, Central Registration Centre under the name and style of ‘Dev Accelerator Private Limited’. The company was further converted into a public limited company pursuant to a special resolution passed by its Shareholders at the extra-ordinary general meeting held on July 12, 2024 and a fresh certificate of incorporation consequent upon conversion to public limited company dated September 3, 2024 was issued by the RoC. The name of the company was changed to its present name, ‘Dev Accelerator Limited’.

The company’s comprehensive office space solutions include sourcing office spaces, customizing designs, developing spaces and providing technology solutions to providing complete asset management. This means it not only create and manage office environments but also ensure that they operate efficiently, allowing its clients to focus on their core business activities. For this purpose, it ensures property upkeep, including regular cleaning, HVAC (heating, ventilation, and air conditioning) maintenance, plumbing, electrical systems, housekeeping, administrative assistance, etc. This ensures that the office environment is always ready for use, without clients needing to manage these day-to-day operational tasks.

Its clientele comprises of large corporates, MNCs and SMEs, to whom it offers a variety of flexible office space solutions such as managed office spaces and coworking spaces as well as design and execution services through its Subsidiary, Neddle and Thread Designs LLP. Its primary focus is on serving large corporates by offering managed office solutions. Such offerings have average lease tenures ranging from 5 to 9 years, with lock-in periods of 3.5 to 5 years. These longer lease commitments provide a stable and predictable revenue stream, help build stronger relationships with occupiers potentially leading to contract renewals or expansions in the future, and achieve operational efficiency in the managed space segment.

Business area of the company

Dev Accelerator along with its subsidiaries and its associate companies is primarily engaged in the business of providing workspace on rent, integrated facility management income (facility management services) and enterprise workspace designing and building services (construction and fit-out projects).

Services of the company

  • Managed office spaces: This workspace solution is tailored for large businesses seeking customized office set-ups.
  • Coworking spaces: This workspace solution allows individuals to any available desk at its ready-to-use workspaces, promoting a collaborative work environment.
  • Design and execution services: As part of its workspace solution offerings, it provides comprehensive design and build solutions, for developing its Centers as well as developing external commercial offices of its clients, through its Subsidiary, Neddle and Thread Designs LLP.
  • Payroll management services: It offers end-to-end solutions, from employee onboarding to exit, using its employee management software to streamline payroll processing, compliance, and statutory requirements.
  • Facility management services: Its facility management services include dedicated IT infrastructure, housekeeping, valet parking, security services, and stationery management.
  • IT/ITes services: As part of this offering, the company, amongst others, offers software development solutions, cloud services, data analytics services, digital marketing, through its Subsidiary, Saasjoy Solutions.

Awards, accreditations and recognitions

  • 2019: Received certificate of recognition as a start-up by Department of Industrial Policy and Promotion (DIPP).
  • 2019: Received “Co-working space of the year” award at 11th Realty+ Conclave and Excellence Awards 2019 Gujarat by Estate Consultants Chembur Private Limited.
  • 2023: Received “Co-working space of the year” award by eChai Startup Awards.
  • 2024: Received ISO 9001:2015 registration for providing co-working spaces and ongoing support to customers.
  • 2024: Received ISO 27001:2022 registration information security management system encompassing all processes for providing co-working spaces and continuous support.
  • 2025: Received “Co-working Startup of the year” award by The Economic Times
  • 2025: Received recognition for being an online platform providing managed co-working spaces by Indicorns, a Titan Capital Initiative.

Major events and milestones

  • 2017: Started the business as a limited liability partnership on September 14, 2017 under the name and style of Dev Accelerator LLP.
  • 2018: Launched its first Center in Ahmedabad, admeasuring 49,035 sq. ft. with 1,250 seating capacity.
  • 2018: Launched its first Center in Vadodara, admeasuring 30,320 sq. ft. with a capacity of 550 seats.
  • 2019: Launched its first Center in Mumbai admeasuring 21,000 sq. ft. with a capacity of 400 seats.
  • 2019: Added a new Center in Ahmedabad, admeasuring 25,509 sq. ft. with 550 seating capacity.
  • 2020: Converted the limited liability partnership into a private limited company on September 5, 2020 under the name and style of ‘Dev Accelerator Private Limited’.
  • 2020:  Launched its first Center in Hyderabad, admeasuring 35,564 sq. ft. with a capacity of 700 seats.
  • 2021: Added two new Centers in Ahmedabad admeasuring 36,002 sq. ft. with a capacity of 380 seats.
  • 2022: Launched its first Center in Rajkot, admeasuring 22,173 sq. ft. with a capacity of 280 seats.
  • 2022: Launched its first Center in Pune, admeasuring 18,682 sq. ft. with a capacity of 400 seats.
  • 2022: Launched its first Center in Noida, admeasuring 55,866 sq. ft. with a capacity of 800 seats.
  • 2022: Launched its first Center in Noida, admeasuring 30,900 sq. ft. with a capacity of 350 seats.
  • 2022: Added a new Center in Mumbai, admeasuring 23,470 sq. ft. with a capacity of 500 seats.
  • 2022: Added two new Centers in Ahmedabad admeasuring 179,010 sq. ft. with a capacity of 1960 seats.
  • 2022: Added a new Center in Pune, admeasuring 18,987 sq. ft. with a capacity of 350 seats.
  • 2023: Launched its first Center in Indore, admeasuring 19,204 sq. ft. with a capacity of 255 seats.
  • 2024: Launched its first Center in Udaipur, admeasuring 13,333 sq. ft. with a capacity of 110 seats.
  • 2024: Added two new Centers in Ahmedabad admeasuring 23,886 sq. ft. with a capacity of 480 seats.
  • 2024: Its private limited company was converted into a public limited company and received fresh Certificate of Incorporation on September 3, 2024.
  • 2025: Added a new Center in Pune, admeasuring 28,400 sq. ft. with a capacity of 369 seats.
  • 2026: Added two new Centers in Hyderabad admeasuring 25,487 sq. ft. with a capacity of 385 seats.

You have 48 views remaining as a Guest User. To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now