Loading…
Engineering R&D services company for aerospace, industrial, semiconductor and telecom clients worldwide.
Engineering R&D services company for aerospace, industrial, semiconductor and telecom clients worldwide.
Is paid for engineers' time or for fixed-price projects, so revenue follows clients' R&D budgets and headcount in India. Its manufacturing arm, Cyient DLM, which builds electronics for aerospace and defence customers, is separately listed in India.
In one line: A mid-sized global engineering-services outsourcer.
Moat: narrow (switching costs, process know-how). Long design-cycle programs with aerospace/industrial clients create multi-year switching costs.
Headquarters: Hyderabad, India · Founded: 1991 · Employees: 12,151
Size Cyient (CYIENT.NS) is an India Information Technology company (Packaged Software) with a market value of $1.23B, the 536th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹1,108 on 6 Nov 2026.
Performance Over six months the shares gained 23.9%, against +5.6% for the median peer and 0.0% for the India market (cap-weighted) — 6th highest of 19 in its peer set.
Growth Revenue grew 10.3% over the last twelve months (peer median +15.1%); the operating margin is 9.5% (peer median 6.6%).
Valuation It trades at 20.2× forward earnings against a peer median of 16.6× (5th most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 20% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is +8 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 6.6 points below its cost of capital (14.5% WACC).
Next results Next results expected around 21 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹80.9B | ₹72.7B | ₹73.6B | ₹71.5B | ₹60.2B |
| Revenue growth | — | -1% | +3% | +19% | — |
| Gross profit | ₹23.7B | ₹15.2B | ₹14.9B | ₹15.8B | ₹14.2B |
| EBITDA | ₹10.6B | ₹9.51B | ₹11.5B | ₹13.0B | ₹10.3B |
| Net income | ₹3.72B | ₹4.28B | ₹6.16B | ₹6.83B | ₹5.14B |
| Free cash flow | n/a | ₹7.30B | ₹6.22B | ₹5.83B | ₹4.65B |
| Capital expenditure | n/a | ₹979M | ₹1.04B | ₹853M | ₹675M |
| Total debt | ₹27.6B | ₹4.31B | ₹5.13B | ₹7.88B | ₹12.2B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Cyient CYIENT.NS | $1.23B | +24% | +10% | 9% | 20.2× | 20.3% |
| Tata Technologies TATATECH.NS | $2.86B | +6% | +22% | 13% | 34.9× | 28.3% |
| KPIT Technologies KPITTECH.NS | $1.57B | -25% | +9% | 14% | 26.3× | 14.8% |
| L&T Technology Services LTTS.NS | $4.79B | +13% | +2% | 15% | 29.4× | 31.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CYIENT.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.6% | -6.4% | 6th highest of 21 |
| 6-month return | +23.9% | +5.6% | 6th highest of 19 |
| Distance from 52-week high | -13.2% | -33.4% | 5th highest of 21 |
| Revenue growth (TTM) | +10.3% | +15.1% | 9th lowest of 21 |
| Operating margin | 9.5% | 6.6% | 8th highest of 21 |
| Forward P/E | 20.2× | 16.6× | 5th most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 20.3% | 14.3% | 5th most demanding of 15 |
| Growth delivered (Del g) | +12.0% | +16.8% | 5th lowest of 15 |
| Hurdle (Req g minus delivered) | +8.4 pp | -3.6 pp | 5th most demanding of 15 |
| ROIC minus cost of capital | -6.6 pp | -3.4 pp | 10th lowest of 21 |
| EV / EBITDA | 12.4× | 12.4× | 6th most expensive of 12 |
| Net debt / EBITDA | 1.1× | 0.6× | 8th least indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Cyient CYIENT.NS | India | $1.23B | +24% | +10% | 9% | 20.2× | 20.3% | +12.0% |
| PagerDuty PD | United States | $1.23B | +115% | +2% | 7% | 11.1× | 12.8% | +18.2% |
| InnovAge INNV | United States | $1.22B | +18% | +15% | 8% | 19.8× | -6.7% | +9.2% |
| Vitec Software VIT-B.ST | Sweden | $1.22B | +18% | +6% | 21% | 24.0× | 3.8% | +22.6% |
| Modern Times Group MTG MTG-A.ST | Sweden | $1.22B | +16% | +42% | 11% | 6.6× | -8.4% | +23.7% |
| Infomart 2492.T | Japan | $1.24B | +70% | +11% | 19% | 65.9× | 14.5% | +16.5% |
| Datang Telecom Technology 600198.SS | China | $1.25B | -24% | -11% | -30% | n/a | n/a | n/a |
| Digital Turbine APPS | United States | $1.26B | +200% | +19% | 10% | 14.7× | 33.1% | +12.5% |
| Beijing Zhongke WengeAI Science and Technology 1956.HK | Hong Kong | $1.19B | n/a | +28% | -54% | n/a | n/a | n/a |
| ICkey (Shanghai) Internet & Technology 301563.SZ | China | $1.19B | -26% | +26% | 4% | n/a | n/a | n/a |
| Fengzhushou 301382.SZ | China | $1.28B | -32% | +28% | 8% | n/a | n/a | n/a |
| Corsair Gaming CRSR | United States | $1.28B | +63% | +3% | 3% | 16.1× | 24.3% | -2.9% |
| Chinasoft International 0354.HK | Hong Kong | $1.18B | 0% | +3% | 2% | 12.4× | 17.8% | +3.1% |
| Shenzhen HQVT Technology 1392.HK | Hong Kong | $1.28B | n/a | +28% | 5% | n/a | n/a | n/a |
| Merit Interactive 300766.SZ | China | $1.17B | -30% | +30% | -2% | n/a | n/a | n/a |
| Genimous Technology 000676.SZ | China | $1.30B | -7% | +3% | 6% | n/a | 14.1% | -17.5% |
| CHAPTERS CHG.DE | Germany | $1.30B | +48% | +63% | -21% | 294.5× | 43.9% | +178.6% |
| Richinfo Technology 300634.SZ | China | $1.30B | -15% | -11% | 10% | 31.2× | 20.8% | +19.9% |
| Bandwidth BAND | United States | $1.31B | -19% | +15% | -1% | 19.6× | 19.3% | +17.0% |
| Opera Limited Sponsored ADR OPRA | United States | $1.31B | -21% | +23% | 16% | 11.9× | 4.5% | +30.1% |
| NSD 9759.T | Japan | $1.32B | +12% | +10% | 16% | 16.6× | -10.9% | +12.2% |