Cyient Ltd., a global Intelligent Engineering and Technology Solutions company, announced a Rs 720 crore buyback on Thursday.
The equity will be repurchased at an amount of Rs 1,125 per share for a total of 64 lakh shares, it informed the exchanges.
Commenting on the corporate action, Krishna Bodanapu, Executive Vice Chairman and Managing Director of Cyient said, "The Board of Directors trust the fundamentals of our business and believe that its intrinsic value is not reflected in the current market price and hence have approved a proposal for buy back of equity shares, through a tender offer at a price of Rs1,125 per equity share, for an aggregate consideration not exceeding Rs 720 crore.
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He added that while the company is making a buyback, they are confident that we will have strong cash flow to invest in future growth.
"I am confident that with the leadership team, a scalable and resilient operating model, and a value-driven culture, we remain focused on driving profitable growth and long-term value creation," Bodanapu underlined.
The buyback announcement came along with the company's financial results for the fourth quarter of FY26.
Cyient Q4FY26 Highlights
Cyient's net profit for Q4FY26 fell sharply by 40.3% to Rs 54.8 crore versus Rs 91.8 crore in the previous quarter. However, Revenue rose 4.2% sequentially to Rs 1927 crore compared to Rs 1,849 crore in the last quarter.
Earnings before interest and taxes also fell 6.8% to Rs 156 crore from Rs 167 crore and EBIT margin narrowed to 8.08% from 9.03%.
Cyient Share Price
Cyient's stock settled 2.7% lower at Rs 935.90 apiece on the NSE on Thursday. This compared to a 0.84% decline in the Nifty index.
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