Strategic move by Cyient in the market through share buyback

Cyient Limited has announced a share buyback program worth ₹720 crore. The proposal has been approved by the company’s Board of Directors. According to Executive Chairman and Managing Director Krishna Bodanapu, the company will repurchase 64 lakh shares at a price of ₹1,125 per share, each having a face value of ₹5. He stated that the decision was taken as the company’s intrinsic value is not adequately reflected in the current stock market price. He also emphasized that even after the buyback, the company will retain sufficient cash reserves to support its future growth plans. Additionally, Cyient is planning to establish a new branch in Saudi Arabia.

In terms of financial performance, Cyient reported a consolidated revenue of ₹1,953.5 crore for the January–March quarter, with a net profit of ₹65.5 crore. In the corresponding period of the previous financial year, the company had recorded a revenue of ₹1,950.2 crore and a net profit of ₹186.4 crore. However, due to the non-completion of a proposed acquisition deal, the company incurred expenses of ₹71.2 crore under legal and other related costs.