Cyient Ltd (NSE: CYIENT, BSE: 532175) shares closed around ₹1,180, roughly flat for the session, as the India-listed engineering and technology services group reported quarterly results showing mixed performance across key units. The stock price at market close reflected modest intraday fluctuation with minimal net change.
Market Capitalization
At the latest close, Cyient’s market capitalization stood near ₹13,150 crore based on outstanding equity at current prices.
Latest Quarterly Results
For the quarter ended December 31, 2025 (Q3 FY26), consolidated group revenue from continuing operations (including DET, DLM, Semiconductors and Others) was ₹18,485 million, down from ₹19,264 million in Q3 FY25. Normalised EBITDA was ₹2,450 million with a margin of 13.3%, compared with ₹2,869 million and a 14.9% margin in the year-ago quarter. Reported profit after tax for the group was ₹918 million, compared with ₹1,223 million in Q3 FY25.
- Cyient DET segment revenue was ₹14,883 million, up from ₹13,976 million in Q3 FY25, with normalised EBIT margin at 12.4%.
- Cyient DLM financials are reported separately: the electronics manufacturing services arm posted revenue of ₹303.3 crore, down about 31.7% year-over-year, and EBITDA (normalised) of ₹30.94 crore with a 10.2% margin. Normalised PAT for DLM was ₹13.84 crore.
- Cyient Semiconductors revenue at the standalone segment level was approximately $6.8 million (medium term growth) in Q3 FY26.
CYIENT – Financial Trends (Operating Performance)
(Downloadable chart: EBITDA/margin trend)
Market Performance – Price Trend
(Downloadable chart: Cyient Ltd stock price trend over the past three months with labelled axes and closing prices)
Business & Operations Update
Cyient’s management highlighted several operational developments in the quarter. The DET business added multiple new client logos and reported sequential revenue expansion in constant currency. The company continued cost optimisation programmes and maintained cash generation amid moderate demand conditions. Cyient Semiconductors announced strategic partnerships and advanced product initiatives, while its subsidiary expanded its operational footprint in key technology areas.
M&A or Strategic Moves
In the period leading up to Q3 FY26, Cyient’s semiconductor arm agreed to acquire a controlling stake of more than 65% in U.S.-based power semiconductor company Kinetic Technologies for approximately $93 million, subject to customary closing conditions, with an expected completion by April 2026.
Equity Analyst Commentary
Brokerages noted the mixed set of results, with analysts pointing to sequential stability in core engineering services but a sharper contraction in design-led manufacturing revenues owing to order completions in the prior period. Commentary emphasised margin pressures and slower demand in specific industrial segments without issuing ratings or price targets.
Guidance & Outlook
Cyient reiterated its focus on portfolio diversification and efficiency improvements. Company-issued guidance to investors highlighted continued investment in digital engineering, semiconductor solutions, and manufacturing capabilities as key developments to watch in upcoming periods.
Performance Summary
Cyient’s stock exhibited marginal change as quarterly group revenue contracted and profit declined compared with the year-ago period. Segment dynamics diverged with DET showing modest growth, while Cyient DLM reported significant revenue contraction. Investors will monitor operations and strategic investments ahead of the next reporting cycle.