Cyient Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Digital, Engineering & Technology (DET): 79.2% • Design Led Manufacturing (DLM): 17.2% • Semiconductors: 3.1%
AI Sector View
AI GENERATEDInformation Technology
IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.
PROS
- Company is almost debt free
- Company has consistently been profitable over the last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.27x)
- Company has been maintaining a healthy dividend payout of 41.6%
- Company has a consistent dividend-paying track record
- Company comfortably covers its interest (11.6x coverage)
CONS
- Recent results are weak - TTM profit is down 39.7% versus prior year
- A large part of profit comes from other income (32.5% of PBT)
- Company has delivered a poor profit growth of 4.9% over past five years
- Operating margins have contracted to 12.1% from 18.0%
- Recurring exceptional / one-off items are inflating headline profit
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TCS | 2202.00 | 16.00 | 796702.87 | 5.00 | 13420.00 | 4.69 | 72275.00 | 13.93 | 66.25 | 25.67 |
| INFY | 1038.20 | 13.91 | 421325.69 | 4.62 | 7775.00 | 12.29 | 48211.00 | 14.03 | 42.84 | 23.66 |
| HCLTECH | 1207.00 | 18.80 | 327539.38 | 4.47 | 4626.00 | 20.34 | 34579.00 | 13.94 | 31.20 | 19.87 |
| WIPRO | 167.50 | 12.55 | 165902.38 | 6.57 | 3356.30 | 0.59 | 24478.60 | 10.59 | 18.49 | 18.93 |
| TECHM | 1539.50 | 29.38 | 150891.59 | 3.31 | 1486.30 | 31.67 | 15711.90 | 17.68 | 23.04 | 17.43 |
| LTM | 4301.15 | 24.39 | 127581.28 | 1.74 | 1468.60 | 17.06 | 11608.00 | 17.96 | 30.25 | 17.75 |
| OFSS | 11760.00 | 30.01 | 102409.76 | 3.40 | 1415.50 | 120.52 | 3125.20 | 68.73 | 45.50 | 60.04 |
| PERSISTENT | 5537.45 | 45.42 | 87353.27 | 0.72 | 483.04 | 13.67 | 4303.23 | 29.09 | 35.09 | 16.19 |
| COFORGE | 1847.40 | 46.58 | 81835.77 | 0.86 | 531.70 | 49.19 | 5527.70 | 49.86 | 24.70 | 19.14 |
| MPHASIS | 2294.10 | 22.92 | 43790.98 | 2.70 | 489.51 | 10.82 | 4384.05 | 17.46 | 23.31 | 18.15 |
| LTTS | 3334.95 | 26.80 | 35379.24 | 1.74 | 3571.00 | 1029.71 | 29401.00 | 1014.73 | 27.70 | 18.65 |
| CYIENT | 1059.15 | 29.34 | 11094.91 | 1.51 | 108.70 | -30.94 | 2075.70 | 21.26 | 12.41 | 12.65 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,686 | 1,778 | 1,821 | 1,861 | 1,676 | 1,849 | 1,926 | 1,909 | 1,712 | 1,781 | 1,848 | 1,927 | 2,076 | |
| 1,371 | 1,453 | 1,495 | 1,526 | 1,411 | 1,552 | 1,696 | 1,606 | 1,481 | 1,562 | 1,611 | 1,705 | 1,910 | |
| Operating Profit | 316 | 326 | 326 | 335 | 265 | 297 | 231 | 303 | 231 | 219 | 237 | 222 | 165 |
| OPM % | 18.71% | 18.32% | 17.90% | 18.02% | 15.81% | 16.05% | 11.98% | 15.85% | 13.48% | 12.29% | 12.83% | 11.52% | 7.97% |
| -1 | 7 | -31 | 23 | 21 | 51 | 32 | 41 | 70 | 71 | -11 | -43 | 7 | |
| Interest | 28 | 27 | 29 | 32 | 26 | 28 | 20 | 19 | 16 | 16 | 14 | 14 | 22 |
| Depreciation | 68 | 66 | 66 | 67 | 66 | 66 | 68 | 68 | 68 | 72 | 70 | 68 | 77 |
| Profit before Tax | 219 | 240 | 200 | 259 | 195 | 254 | 174 | 257 | 216 | 201 | 142 | 97 | 171 |
| Tax % | 22.89% | 23.60% | 23.28% | 24.01% | 24.15% | 26.62% | 26.33% | 25.75% | 26.01% | 26.66% | 29.73% | 30.51% | 36.47% |
| Net Profit | 0 | 0 | 0 | 0 | 148 | 187 | 128 | 186 | 157 | 143 | 97 | 66 | 109 |
| 15.35 | 16.27 | 13.41 | 17.22 | 13.09 | 16.28 | 11.11 | 15.47 | 13.95 | 11.55 | 8.32 | 4.96 | 9.42 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,586 | 3,914 | 4,618 | 4,427 | 4,132 | 4,534 | 6,016 | 7,147 | 7,360 | 7,268 | 7,632 | |
| 3,122 | 3,378 | 4,004 | 3,878 | 3,584 | 3,717 | 5,013 | 5,858 | 6,219 | 6,390 | 6,789 | |
| Operating Profit | 464 | 535 | 614 | 549 | 548 | 818 | 1,003 | 1,289 | 1,142 | 878 | 843 |
| OPM % | 12.93% | 13.68% | 13.30% | 12.40% | 13.27% | 18.04% | 16.67% | 18.03% | 15.51% | 12.08% | 11.05% |
| 81 | 147 | 149 | 158 | 166 | 112 | 35 | 12 | 98 | 117 | 23 | |
| Interest | 17 | 20 | 33 | 49 | 43 | 39 | 100 | 116 | 93 | 61 | 66 |
| Depreciation | 95 | 105 | 111 | 188 | 194 | 192 | 257 | 267 | 267 | 278 | 287 |
| Profit before Tax | 444 | 541 | 620 | 468 | 477 | 698 | 681 | 918 | 875 | 644 | 611 |
| Tax % | 23.53% | 25.50% | 23.02% | 27.13% | 23.75% | 25.21% | 24.49% | 23.48% | 25.91% | 28.16% | 30.73% |
| Net Profit | 340 | 403 | 477 | 341 | 364 | 522 | 514 | 703 | 648 | 463 | 423 |
| EPS | 30.53 | 35.85 | 42.36 | 31.14 | 33.06 | 47.54 | 46.71 | 61.51 | 55.47 | 38.48 | — |
| Dividend Payout % | 34.39% | 36.11% | 34.61% | 48.18% | 51.40% | 50.73% | 55.90% | 48.77% | 46.87% | 41.58% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 9%
- 5 Years:
- 12%
- 3 Years:
- 7%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 3%
- 5 Years:
- 3%
- 3 Years:
- -6%
STOCK PRICE CAGR
- 10 Years:
- 8%
- 5 Years:
- 1%
- 3 Years:
- -16%
- 1 Year:
- -14%
RETURN ON EQUITY
- 10 Years:
- 16%
- 5 Years:
- 15%
- 3 Years:
- 14%
- Last Year:
- 9%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 56 | 56 | 55 | 55 | 55 | 55 | 55 | 56 | 56 | 56 |
| Minority Interest | 3 | 0 | -2 | -3 | -3 | -3 | -3 | 299 | 451 | 481 |
| 2,040 | 2,266 | 2,502 | 2,495 | 2,886 | 3,038 | 3,363 | 4,145 | 5,180 | 5,558 | |
| 192 | 279 | 395 | 685 | 554 | 566 | 1,228 | 600 | 427 | 315 | |
| Trade Payables | 392 | 381 | 370 | 373 | 453 | 526 | 714 | 500 | 393 | 537 |
| 1,047 | 1,181 | 1,428 | 1,343 | 1,401 | 580 | 1,143 | 1,328 | 1,102 | 1,194 | |
| Total Liabilities | 3,730 | 4,163 | 4,748 | 4,948 | 5,346 | 4,762 | 6,500 | 6,928 | 7,608 | 8,141 |
| 751 | 798 | 978 | 1,305 | 1,361 | 1,345 | 2,825 | 2,826 | 2,929 | 3,084 | |
| Capital Work in Progress | 9 | 21 | 30 | 80 | 11 | 13 | 3 | 2 | 8 | 5 |
| 196 | 143 | 55 | 41 | 34 | 445 | 518 | 436 | 502 | 457 | |
| 94 | 131 | 183 | 227 | 159 | 279 | 436 | 468 | 577 | 653 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,262 | 1,407 | 1,306 | |
| Cash & Bank | 878 | 981 | 970 | 952 | 1,465 | 1,267 | 719 | 984 | 1,314 | 1,506 |
| 1,802 | 2,090 | 2,532 | 2,343 | 2,316 | 1,414 | 1,999 | 952 | 873 | 1,130 | |
| Total Assets | 3,730 | 4,163 | 4,748 | 4,948 | 5,346 | 4,762 | 6,500 | 6,928 | 7,608 | 8,141 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 520 | 462 | 512 | 728 | 985 | 800 | 683 | 726 | 790 | 787 | |
| Cash from Investing | -180 | -87 | -220 | -157 | -101 | -382 | -1,033 | -533 | -145 | 112 |
| Cash from Financing | -93 | -136 | -232 | -446 | -253 | -544 | -109 | -266 | -58 | -569 |
| 146 | 74 | -82 | -21 | 502 | -292 | -588 | -73 | 587 | 330 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - Cyient Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-10 - Cyient Limited has informed the Exchange regarding Notice of Postal Ballot
2026-09-04 - Cyient Limited has informed the Exchange about General Updates
2026-09-04 - Cyient Limited has informed the Exchange about General Updates
2026-08-28 - Cyient Limited has informed the Exchange about Link of Recording
2026-08-26 - Cyient Limited has informed the Exchange about Receipt of approval from the Competition Commission of India
2026-08-25 - Cyient Limited has informed the Exchange about Investor Presentation
2026-08-24 - Cyient Limited has informed the Exchange regarding a press release dated August 24, 2026, titled "Cyient Unveils New Brand Positioning Nothing Less ".
2026-08-21 - Cyient Limited has informed the Exchange about dissolution of Infotech HAL Limited, Joint Venture Company
News
Recent coverage and analyst commentary for CYIENT
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