Cyient Ltd logo

Cyient Ltd

CYIENT NSE

Cyient (formerly Infotech Enterprises Limited) is an Indian multinational technology company that is focused on engineering, manufacturing, data analytics, and networks and operations. Infotech Enterprises Ltd. was established in 1991 in Hyderabad.[1]

AI Verdict: HOLD Confidence: 5%

Cyient Ltd trades at a PE of 22x with deteriorating profitability (TTM profit growth of -22%) and a sharp stock decline of -32% over 1 year. While the company is almost debt-free and maintains a healthy 1.74% dividend yield, weakening ROE (9% last year vs 15% 10-year average) and negative sales growth (-1% TTM) warrant caution until a clear earnings recovery emerges.

Key Fundamentals

MicrocapIT Enabled ServicesInformation Technology
Market Cap
₹9,893 Cr
Volatility
Moderate
P/E Ratio
23.01
EBITDA
₹1,088 Cr
Return on Equity
15.42%
Debt to Equity
0.09
Book Value
₹511.21
EPS
₹63.07
52W High
₹1,327.4
52W Low
₹750.3

Technical Indicators

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 45.7%

Weaknesses

3
  • The company has delivered a poor sales growth of 12.0% over past five years.
  • Promoter holding is low: 23.3%
  • Company has a low return on equity of 12.8% over last 3 years.

Growth Rate

Revenue Growth
-0.16% ↘
Net Income Growth
-28.58% ↗
Cash Flow Change
-0.32% ↘
ROE
-33.24% ↘
ROCE
-31.50% ↘
EBITDA Margin (Avg.)
-12.15% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 26d ago
HOLD
Risk high

Cyient Ltd trades at a PE of 22x with deteriorating profitability (TTM profit growth of -22%) and a sharp stock decline of -32% over 1 year. While the company is almost debt-free and maintains a healthy 1.74% dividend yield, weakening ROE (9% last year vs 15% 10-year average) and negative sales growth (-1% TTM) warrant caution until a clear earnings recovery emerges.

Bull Case 7
  • Company is almost debt-free, providing financial flexibility and low interest burden in a high-rate environment
  • Healthy dividend payout of 45.7% with current yield of 1.74%, offering income support during the downturn
  • Price-to-book ratio of 1.79x is reasonable for an IT services company, suggesting limited downside from asset value perspective
  • 10-year compounded sales CAGR of 9% demonstrates long-term revenue scaling ability
  • 10-year stock CAGR of 7% and 5-year profit CAGR of 6% show the business can compound over longer cycles
  • 47% of analysts (8 out of 17) rate the stock a Buy, indicating institutional confidence in recovery potential
  • 5-year compounded sales growth of 12% shows the company was on a solid growth trajectory before the recent slowdown
Bear Case 8
  • TTM profit growth of -22% signals significant earnings deterioration and potential structural margin pressure
  • Stock has declined -32% over 1 year, reflecting severe loss of market confidence and momentum
  • ROE has fallen sharply from 15% (10-year average) to just 9% last year, indicating declining capital efficiency
  • TTM sales growth is -1%, showing revenue contraction after years of positive growth
  • 3-year stock CAGR of -11% indicates prolonged underperformance, not just a short-term blip
  • 3-year compounded profit CAGR of -4% confirms a multi-year earnings decline trend
  • 29.41% of analysts (5 out of 17) rate the stock a Sell, a notably high proportion for a mid-cap IT name
  • PE of 22x is expensive relative to the negative earnings growth, implying the stock is not yet pricing in the full downside

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 25d ago
Positives 5
  • $218M Tao Digital acquisition May 30

    Cyient acquiring Tao Digital Solutions for US$218M enterprise value, adding 3,500 employees and AI-native data engineering capabilities. Tao grew revenue from US$19.7M in CY2023 to US$79.1M in CY2025, with close expected by Q2 FY27.

  • ISG Leader in all quadrants May 30

    Named Leader in all three quadrants of ISG Provider Lens 2026 Digital Engineering Services report for the US — the only mid-size pure-play engineering firm to achieve this in North America. FY26 revenue reported at $658M.

  • ₹720 Cr buyback underway May 14

    Postal ballot notice dispatched May 11 for ₹720 crore buyback and MD re-appointment. E-voting open from May 12 to June 10, 2026.

  • India's first GaN power ICs May 12

    Cyient Semiconductors launched seven GaN power ICs using Navitas technology targeting AI data centers, e-mobility, and telecom. Sampling begins June 2026.

  • ₹300 Cr semiconductor financing May 29

    Subsidiary raised ₹300 crore strategic financing comprising ₹200 crore in non-convertible debentures and ₹100 crore in convertible instruments, secured by corporate guarantee and share pledge.

Neutral 1
  • 3,140 ESOP shares allotted May 6

    Cyient allotted 3,140 equity shares to associates under ASOP 2015 and ARSUS 2020 plans on May 6, 2026. Minimal dilution impact.

TL;DR: Cyient is on an aggressive growth trajectory — the $218M Tao Digital acquisition significantly scales its AI-native engineering capabilities, while the ISG Leader recognition validates its competitive positioning in North America. The ₹720 crore buyback signals management confidence and capital return commitment. No material headwinds are visible in recent news; the key execution risk lies in integrating Tao Digital and commercializing the GaN semiconductor portfolio through FY27.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
1,751
1,686
1,778
1,821
1,861
1,676
1,849
1,926
1,909
1,712
1,781
1,848
1,927
Expenses
1,429
1,371
1,453
1,495
1,526
1,411
1,552
1,648
1,611
1,484
1,567
1,614
1,705
Operating Profit
322
316
326
326
335
265
297
278
298
228
214
235
222
OPM %
18%
19%
18%
18%
18%
16%
16%
14%
16%
13%
12%
13%
12%
Other Income
-16
-1
7
-32
23
21
51
-17
41
70
71
-11
-45
Interest
26
28
27
29
32
26
28
20
19
16
16
14
14
Depreciation
73
68
66
66
67
66
66
68
68
68
72
70
68
PBT
208
219
240
200
259
195
254
174
252
214
197
139
95
Tax %
21%
23%
24%
23%
24%
24%
27%
26%
26%
26%
27%
30%
31%
Net Profit
163
169
184
153
197
148
187
128
186
157
143
97
66
EPS in Rs
14.76
15.2
16.1
13.28
17.06
12.97
16.14
11.02
15.35
13.85
11.48
8.26
4.93
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
2,736
3,094
3,586
3,914
4,618
4,427
4,132
4,534
6,016
7,147
7,360
7,268
Expenses
2,335
2,680
3,109
3,394
3,985
3,881
3,557
3,717
5,013
5,844
6,222
6,369
Operating Profit
401
414
477
520
633
546
575
818
1,003
1,303
1,138
899
OPM %
15%
13%
13%
13%
14%
12%
14%
18%
17%
18%
15%
12%
Other Income
122
112
79
147
131
158
140
112
35
-2
97
84
Interest
6
16
17
20
33
49
43
39
100
116
93
61
Depreciation
71
89
95
105
111
188
194
192
257
267
267
278
PBT
446
421
444
541
620
468
477
698
681
918
875
644
Tax %
25%
24%
24%
26%
23%
27%
24%
25%
24%
23%
26%
28%
Net Profit
351
320
340
403
477
341
364
522
514
703
648
463
EPS in Rs
31.43
28.94
30.54
36
42.33
31.14
33.06
47.35
46.52
61.57
55.45
38.51
Div. Payout %
25%
24%
34%
36%
35%
48%
51%
51%
56%
49%
47%
42%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
56
56
56
56
55
55
55
55
55
56
56
56
Reserves
1,788
1,774
2,061
2,288
2,509
2,506
2,902
3,061
3,411
4,203
5,254
5,626
Borrowings
147
214
211
283
368
711
577
573
1,218
788
513
431
Other Liabilities
582
668
798
773
927
870
940
1,072
1,815
1,883
1,798
2,137
Total Liabilities
2,574
2,713
3,126
3,400
3,860
4,142
4,475
4,762
6,500
6,928
7,621
8,250
Fixed Assets
789
657
751
798
978
1,305
1,361
1,345
2,825
2,826
2,929
3,084
CWIP
10
10
26
52
104
146
88
13
44
57
79
5
Investments
101
160
196
143
55
41
34
445
518
436
502
457
Other Assets
1,674
1,886
2,153
2,409
2,723
2,650
2,992
2,959
3,113
3,609
4,112
4,704
Total Assets
2,574
2,713
3,126
3,400
3,860
4,142
4,475
4,762
6,500
6,928
7,621
8,250
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
362
278
420
296
370
582
856
634
554
726
790
787
Investing
-448
-54
-153
-57
-190
-146
-104
-377
-1,006
-537
-134
158
Financing
-32
-111
-93
-136
-232
-446
-211
-544
-109
-266
-58
-569
Net Cash Flow
-118
113
174
103
-52
-10
541
-287
-562
-77
598
376
Free Cash Flow
281
150
316
149
226
369
761
572
489
648
688
693
CFO/OP
119
92
109
89
81
133
171
98
68
77
92
118
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
71
72
66
64
64
60
71
59
68
64
70
66
Inventory Days
—
189
124
156
160
211
110
178
228
177
185
303
Days Payable
—
599
522
453
323
347
314
336
374
189
126
249
Cash Conversion Cycle
71
-337
-331
-233
-99
-76
-133
-99
-78
52
128
119
Working Capital Days
43
41
27
36
47
35
25
23
17
43
64
68
ROCE %
25%
22%
22%
23%
24%
17%
15%
20%
20%
22%
17%
12%

Shareholding Pattern

As of Mar 2026
DIIs 40.97%
Promoters 23.28%
FIIs 15.32%
Public 12.89%
Others 7.53%
Total 99.99%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
23.47%
23.45%
23.43%
23.41%
23.41%
23.40%
23.37%
23.36%
23.36%
23.35%
23.20%
23.20%
23.16%
23.16%
23.15%
23.14%
23.29%
23.28%
23.28%
23.29%
23.28%
FIIs
0.00%
0.00%
0.00%
1.36%
1.36%
1.36%
0.00%
0.00%
0.00%
0.00%
35.71%
0.00%
31.05%
29.47%
28.39%
28.23%
23.85%
21.37%
17.56%
15.28%
15.32%
DIIs
19.88%
19.94%
21.54%
21.40%
21.97%
22.52%
23.21%
24.95%
24.88%
21.31%
21.56%
21.52%
25.92%
27.09%
29.72%
30.32%
34.12%
35.63%
38.41%
39.49%
40.97%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
10.27%
9.83%
10.28%
11.02%
11.51%
12.39%
11.91%
12.00%
11.59%
11.47%
12.11%
12.32%
12.19%
12.88%
11.69%
11.27%
11.60%
11.85%
12.82%
13.63%
12.89%
Others
46.38%
46.79%
44.75%
42.80%
41.75%
40.34%
41.50%
39.68%
40.17%
43.86%
7.42%
42.96%
7.68%
7.40%
7.05%
7.04%
7.14%
7.86%
7.93%
8.31%
7.53%
No. of Shareholders
0
57,316
74,805
97,748
1,15,866
1,16,297
1,25,990
1,24,623
1,21,541
1,31,507
1,45,615
1,60,921
1,62,068
1,81,640
1,82,884
1,76,902
1,85,366
2,09,171
2,12,929
2,14,071
2,06,248

Documents

1
Concall - Apr 2019 Apr 2019
2
Concall - Jul 2019 Jul 2019
3
Concall - Jul 2019 Jul 2019
4
Concall - Oct 2019 Oct 2019
5
Concall - Jan 2020 Jan 2020

Frequently Asked Questions about Cyient Ltd

What does Cyient Ltd do?
Cyient (formerly Infotech Enterprises Limited) is an Indian multinational technology company that is focused on engineering, manufacturing, data analytics, and networks and operations. Infotech Enterprises Ltd. was established in 1991 in Hyderabad.[1]
Where is Cyient Ltd (CYIENT) listed?
Cyient Ltd is listed on the Indian stock exchanges. It is listed on NSE: CYIENT and BSE: 532175. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Cyient Ltd belong to?
Cyient Ltd operates in the Information Technology sector within the IT - Services industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Cyient Ltd?
Cyient Ltd has a market capitalisation of approximately ₹9893.37 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Cyient Ltd?
The Price-to-Earnings (PE) ratio of Cyient Ltd is 23.01. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Cyient Ltd?
Over the past 52 weeks, Cyient Ltd has traded between a low of ₹750.3 and a high of ₹1,327.4. This range helps investors understand the stock's price volatility and recent trading levels.
Does Cyient Ltd pay dividends?
Yes, Cyient Ltd has a dividend yield of 1.79%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Cyient Ltd?
Cyient Ltd has a Return on Equity (ROE) of 15.42%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Cyient Ltd on Tapetide?
On Tapetide, you can view Cyient Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Cyient (formerly Infotech Enterprises Limited) is an Indian multinational technology company that is focused on engineering, manufacturing, data analytics, and networks and operations. Infotech Enterprises Ltd. was established in 1991 in Hyderabad.[1]

Website cyient.com
CEO Mr. Sukamal Banerjee
Employees 11,884
Listed 1998-09-30
Face Value ₹ 5
Issued Size 11,11,02,195

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