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Cyient Ltd

| Audited Results for Quarter & Year Ended March 31, 2026

Report Source

⬤23rd Apr 26

Summary : Cyient approved a share buyback, expanded internationally, and made strategic acquisitions despite profit dips.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Consolidated Employee benefits expense: INR 40,340 Mn (FY26)
  2. Consolidated Cost of materials consumed: INR 8,128 Mn (FY26)
  3. Consolidated Depreciation and amortisation expense: INR 2,782 Mn (FY26)
  4. Consolidated Other expenses: INR 15,098 Mn (FY26)
  5. Consolidated Revenue from contracts with customers: INR 72,682 Mn (FY26)
  6. Consolidated Other income: INR 1,772 Mn (FY26)
  7. Segment Revenue - DET: INR 58,189 Mn (FY26)
  8. Segment Revenue - DLM: INR 12,615 Mn (FY26)
  9. Segment Revenue - Semiconductors: INR 2,283 Mn (FY26)
  10. Segment Revenue - Others: INR 343 Mn (FY26)
  11. Consolidated Net cash from operating activities: INR 7,874 Mn (FY26)
  12. Consolidated Net cash used in investing activities: INR (1,116) Mn (FY26)
  13. Consolidated Net cash used in financing activities: INR (3,297) Mn (FY26)
  14. Consolidated Cash and cash equivalents at year end: INR 14,467 Mn (FY26)
  15. Consolidated Total Assets: INR 83,244 Mn (Mar 31, 2026)
  16. Consolidated Total Equity: INR 61,633 Mn (Mar 31, 2026)
  17. Consolidated Total Liabilities: INR 21,611 Mn (Mar 31, 2026)
  18. Both standalone and consolidated financial results presented

Corporate Overview

  1. Kingdom of Saudi Arabia (new branch office)
  2. Global presence through numerous subsidiaries in USA, Canada, UK, Netherlands, Czech Republic, Belgium, Germany, Sweden, Japan, Singapore, Austria, Israel, Australia, South Africa, Chile, UAE
  3. Impairment loss on Tooling business recognized
  4. Reduction in fair value of IP-based investment due to extended timelines
  5. Proposed acquisition transaction did not proceed, incurring expenses
  6. Impact of New Labour Codes on employee benefits
  7. Digital, Engineering & Technology (DET) solutions
  8. Design Led Manufacturing (DLM) services
  9. Semiconductors design, development, supply chain
  10. Other business operations including Aerospace Tooling
  11. Formal and factual, focused on strategic growth and shareholder value
  12. Digital, Engineering & Technology (DET)
  13. Design Led Manufacturing (DLM)
  14. Semiconductors
  15. Others (Aerospace Tooling division)
  16. Set up of a branch office in Kingdom of Saudi Arabia
  17. Acquisition of majority stake in Kinetic Technologies for $84.83 Mn

Risk Factors

  1. Impairment loss on tooling business recognized.
  2. Fair value reduction of IP-based investment.
  3. Acquisition transaction did not proceed.
  4. Impact of new labor codes on employee benefits.

Key Drivers

  1. Share buyback approved, returning value.
  2. Strategic acquisition in semiconductor business completed.
  3. International expansion with new Saudi branch.
  4. Reorganization of semiconductor business structure.

Auditor’s Report

  1. Unmodified opinion on consolidated financial results
  2. Unmodified opinion on standalone financial results

Board Commentary

  1. Re-appointment of Mr. B.V.R Mohan Reddy as Non-Executive, Non-Independent director
  2. Final Dividend for FY2025-26 was considered and not recommended
  3. Impairment loss on Tooling business
  4. Fair value reduction of IP-based investment
  5. Failed acquisition transaction expenses
  6. Settlement of civil class action antitrust litigation
  7. Impact of New Labour Codes on employee benefits
  8. Approved buyback of 64,00,000 shares for INR 720 crores
  9. Acquisition of majority stake in Kinetic Technologies for $84.83 Mn

Corporate Governance

  1. Adherence to Code of Ethics by ICAI
  2. Re-appointment of Non-Independent director approved
  3. Audit Committee reviewed and recommended results

Management Discussion & Analysis

Future Strategy

  1. International expansion in Saudi Arabia
  2. Strategic acquisition of Kinetic Technologies
  3. Reorganization of global semiconductor business structure

Critical Risks

  1. Impairment loss on Tooling business
  2. Fair value reduction of IP-based investment
  3. Failed acquisition transaction expenses
  4. Uncertainty regarding New Labour Codes impact