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Swing Capital

Cyient Ltd

NSE: CYIENT BSE: 532175

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]

₹875
52W: ₹750 — ₹1377
PE 30.4 · Book ₹323 · +171% vs book
Market Cap₹9,723 Cr
Stock P/E30.4Price to Earnings
ROCE16.8%Return on Capital
ROE8.7%Return on Equity
Div. Yield2.94%Face Value ₹5

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Company has been maintaining a healthy dividend payout of 69.2%
  • +Debtor days have improved from 125 to 88.0 days.
  • +Company's working capital requirements have reduced from 127 days to 78.4 days

Weaknesses

  • −The company has delivered a poor sales growth of 11.4% over past five years.
  • −Promoter holding is low: 23.3%
  • −Company has a low return on equity of 12.6% over last 3 years.

Shareholding Pattern

Promoters23.28%
FIIs15.33%
DIIs40.98%
Public19.84%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters23.16%23.15%▼0.023.14%▼0.023.28%▲0.123.28%23.28%23.28%23.28%
FIIs29.47%28.39%▼1.128.23%▼0.223.85%▼4.421.37%▼2.517.56%▼3.815.28%▼2.315.33%▲0.1
DIIs27.08%29.72%▲2.630.32%▲0.634.13%▲3.835.63%▲1.538.42%▲2.839.51%▲1.140.98%▲1.5
Public19.45%17.92%▼1.517.5%▼0.417.95%▲0.419.03%▲1.120.11%▲1.121.31%▲1.219.84%▼1.5

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales598612570623612608548596601618
Expenses439442448460470466423430447491
Operating Profit159170121163143143125165154128
OPM %27%28%21%26%23%23%23%28%26%21%
Net Profit1371158085471119119143-14638
EPS ₹12.410.387.1976.986.4210.7510.6912.91-13.113.44

AI Insights

Revenue Trend

Mar 2026 revenue at ₹2,363Cr, down 2.1% YoY. OPM at 24%.

Debt Position

Borrowings at ₹45Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.

Capex Cycle

CWIP at ₹3Cr (1% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 40.98% (+19.67pp change). FIIs: 15.33% (-21.24pp change). Promoters hold 23.28%.

Margin & Efficiency

ROCE declining from 23% (Mar 2015) to 17% (Mar 2026). Working capital days: 78.

Valuation

PE 30.4x with 16.8% ROCE. Price is 171% above book value of ₹323. Dividend yield: 2.94%.

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