Cyient Announces Q4 FY26 Results, Approves Share Buyback of ₹720 Crore
Cyient Limited announced its Q4 FY26 results and approved a ₹720 crore share buyback at ₹1,125 per share. The company is exploring a fundraise for its semiconductor business and reported Q4 DET revenue of $163.5 million. An exceptional charge of ₹71 crore was recorded for a paused M&A transaction. FY27 growth is projected at mid-to-high single digits.
The substantial share buyback program and the exploration of equity fundraising for the semiconductor business are material events that can significantly impact the company's capital structure, shareholder value, and future growth prospects.
The announcement includes a significant share buyback, indicating confidence in the company's value and a commitment to shareholder returns. Positive outlook for FY27 and progress in the semiconductor business also contribute to a positive sentiment.
Cyient Limited announced the transcript of its Q4 FY26 results conference call, which was conducted following the Board of Directors' meeting on April 23, 2026. The call, held on April 23, 2026, featured key management personnel including Mr. Krishna Bodanapu (Executive Vice Chairman and Managing Director), Mr. Sukamal Banerjee (Executive Director and CEO), and Mr. Shrinivas Kulkarni (President and CFO).
During the call, the company announced that the Board of Directors has approved a proposal to buy back up to 6.4 million equity shares, representing a maximum of 5.76% of the total paid-up capital, at a price of ₹1,125 per equity share for an aggregate consideration not exceeding ₹720 crore. The promoters and key management personnel have indicated they will not participate in this buyback, reflecting their long-term confidence in the company's intrinsic value. This buyback is subject to shareholder approval and SEBI guidelines.
The company also provided an update on its semiconductor business, highlighting a revenue of $7.2 million in Q4 FY26, a 5% sequential improvement, and a full-year revenue of $25.7 million. The Board has also agreed in principle to explore a market fundraise for the semiconductor business, combining debt and equity, to support its growth and working capital needs.
Regarding the DET segment, revenue was $163.5 million in Q4 FY26, with a normalized EBIT margin of 12.4%. For the full year FY26, DET revenue was $657.6 million, and normalized EBIT margin was 12.2%. The company reported an exceptional charge of ₹71 crore for due diligence expenses related to Project Astro, a strategic transformation acquisition that is currently on hold due to evolving AI landscape and geopolitical uncertainties.
Cyient DLM, a publicly traded company, reported a book-to-bill ratio of 1.5x for the year and is entering FY27 with its highest order book. Profitability for the year was maintained at 10.3%.
The company reiterated its commitment to returning capital to shareholders through a combination of dividends and buybacks, maintaining a payout ratio of 40% to 50%. The interim dividend of ₹16 declared in Q2 will be treated as the final dividend for FY26.
Looking ahead to FY27, Cyient aspires for mid-to-high single-digit organic growth year-over-year and aims to achieve a 15% EBIT margin by Q4 FY27.
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