Cyient Limited has informed the Exchange regarding a press release dated April 23, 2026, titled "Cyient Board Approves ₹720 Crore Share Buy-Back".
CYIENT · price
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Cyient's Board of Directors has approved a share buyback of up to ₹720 crore through a tender offer at ₹1125 per equity share. The company cited that its intrinsic value is not reflected in the current market price as the rationale. For FY26, Cyient DET revenue grew 5.5% year-on-year to ₹5,819 crores, while PAT increased 7.2% to ₹588 crores. The company generated strong free cash flow of ₹731 crores with a conversion rate of 124.3% of normalised PAT. The board stated confidence in having sufficient cash flow to both complete the buyback and invest in future growth initiatives.
The buyback at ₹1125 per share signals management confidence that the stock is undervalued, creating a floor price for shareholders. The ₹720 crore buyback (approximately 6.4 crore shares at buyback price) represents a meaningful capital return program.