Cigniti Technologies Limited has informed the Exchange regarding 'Intimation of BRSR for Fy 2024-25'.
Awaiting price reaction for this filing.
Cigniti Technologies has filed its Business Responsibility and Sustainability Report (BRSR) for FY 2024-25 with BSE and NSE, as required under SEBI's Listing Regulations. The company is a pure-play Digital IT Services provider (100% of revenue from Digital Assurance and Engineering) with 96% of turnover from exports across 24 countries and 3,499 total employees, of which 33% are women. The report discloses several regulatory penalties paid during the year: approximately ₹9.41 lakh in fines from NSE/BSE for non-compliance with SEBI LODR regulations (related to related-party transactions, board composition, and share reclassification), a ₹13.82 lakh compounding fee to RBI for FEMA 1999 contraventions, and a ₹2.60 crore Income Tax compounding under Section 276B. Sales to related parties stood at 71.53% of total sales, down from 89.05% the previous year. The report also highlights strong employee welfare metrics including 100% health insurance coverage and no reported safety incidents or sexual harassment complaints.
This is a routine annual regulatory disclosure with no immediate impact on the stock price. However, investors should note the disclosed regulatory penalties (totalling around ₹2.83 crore) and the still-high level of related-party transactions, which reflects the company's deep integration with its parent Coforge.