Reported Earnings • Apr 29
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: EPS: ₹38.78 (down from ₹55.95 in FY 2025). Revenue: ₹72.7b (down 1.3% from FY 2025). Net income: ₹4.28b (down 31% from FY 2025). Profit margin: 5.9% (down from 8.4% in FY 2025). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 27%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 10% per year. Duyuru • Apr 24
Cyient Limited (BSE:532175) announces an Equity Buyback for 6,400,000 shares, for INR 7,200 million. Cyient Limited (BSE:532175) announces a share repurchase program. Under the program, the company will repurchase up to 6,400,000 shares for INR 7,200 million. The shares will be repurchased at INR 1,125 per share. The program is subject to approval from shareholders at the postal ballot. Duyuru • Apr 14
Cyient Limited to Report Q4, 2026 Results on Apr 23, 2026 Cyient Limited announced that they will report Q4, 2026 results at 3:30 PM, Indian Standard Time on Apr 23, 2026 Buy Or Sell Opportunity • Apr 02
Now 24% overvalued Over the last 90 days, the stock has fallen 27% to ₹805. The fair value is estimated to be ₹651, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.4% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 50% in the next 2 years. Duyuru • Jan 23
Cyient Limited Announces Resignation of Matangi Gowrishankar as Independent Director, Chairperson of Leadership, Nomination and Remuneration Committee and from Boards of Cyient Inc. and Cyient Europe Limited, Effective January 22, 2026 Cyient Limited announced that Ms. Matangi Gowrishankar (DIN: 01518137), has tendered her resignation as an Independent Director of the Company, effective 22 January 2026. Consequently, she will cease to be Chairperson of Leadership, Nomination and Remuneration Committee of the Company and also step down from the Boards of Cyient Inc. and Cyient Europe Limited which are material subsidiaries of the company. Reconstitution of Leadership, Nomination and Remuneration Committee: Madan Mohan Pillutla Independent Director: Chairperson. MM Murugappan Non- Executive, Non-Independent Director: Member. Nitin Prasad Independent Director: Member. Debjani Ghosh Independent Director: Member. Reported Earnings • Jan 23
Third quarter 2026 earnings: EPS and revenues miss analyst expectations Third quarter 2026 results: EPS: ₹8.32 (down from ₹11.11 in 3Q 2025). Revenue: ₹18.5b (down 4.0% from 3Q 2025). Net income: ₹918.0m (down 25% from 3Q 2025). Profit margin: 5.0% (down from 6.3% in 3Q 2025). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 40%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 8% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Dec 29
Cyient Limited to Report Q3, 2026 Results on Jan 22, 2026 Cyient Limited announced that they will report Q3, 2026 results on Jan 22, 2026 Reported Earnings • Oct 17
Second quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2026 results: EPS: ₹11.55 (down from ₹16.28 in 2Q 2025). Revenue: ₹18.3b (down 1.0% from 2Q 2025). Net income: ₹1.28b (down 29% from 2Q 2025). Profit margin: 7.0% (down from 9.7% in 2Q 2025). Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Oct 01
Cyient Limited to Report Q2, 2026 Results on Oct 16, 2025 Cyient Limited announced that they will report Q2, 2026 results on Oct 16, 2025 Board Change • Sep 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Prathivadibhayankara Ramesh was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Aug 19
Cyient Limited Announces Board Appointments Cyient Limited announced the appointment of eminent business leaders Mr. P. R. Ramesh and Dr. Madan Pillutla to its Board as Independent Directors. With over 40 years of experience, Ramesh is the former Chairman of Deloitte India and a former member of the Deloitte Global Board. A Fellow Member of the Institute of Chartered Accountants of India (ICAI), he has been actively associated with several regulatory and industry bodies, including SEBI, RBI, IRDA, and the Government of India committees on corporate governance and accounting standards. He has also served as the President of the Bombay Chamber of Commerce & Industry in the past. Mr. Ramesh currently also serves on the Boards of leading companies such as Air India, Cipla, L&T, Nestlé India, Crompton Greaves Consumer Electricals, and ITC Hotels. Dr. Pillutla currently serves as Dean & Professor of Organizational Behaviour at the Indian School of Business. He was previously with the London Business School for 22 years, where he held leadership roles including Deputy Dean of Faculty and Member of the Governing Body. His research has been published in leading academic journals, and he has served on editorial boards such as the Administrative Science Quarterly and the Academy of Management Journal. He has also designed and led executive education programs on leadership, negotiation, and influence. Price Target Changed • Jul 30
Price target decreased by 7.8% to ₹1,309 Down from ₹1,420, the current price target is an average from 21 analysts. New target price is 6.9% above last closing price of ₹1,224. Stock is down 30% over the past year. The company is forecast to post earnings per share of ₹59.64 for next year compared to ₹55.95 last year. Reported Earnings • Jul 26
First quarter 2026 earnings released: EPS: ₹13.95 (vs ₹13.09 in 1Q 2025) First quarter 2026 results: EPS: ₹13.95 (up from ₹13.09 in 1Q 2025). Revenue: ₹17.1b (up 2.2% from 1Q 2025). Net income: ₹1.54b (up 6.9% from 1Q 2025). Profit margin: 9.0% (up from 8.6% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jul 07
Cyient Limited to Report Q1, 2026 Results on Jul 24, 2025 Cyient Limited announced that they will report Q1, 2026 results on Jul 24, 2025 Declared Dividend • Jun 30
Final dividend reduced to ₹14.00 Dividend of ₹14.00 is 22% lower than last year. Ex-date: 4th July 2025 Payment date: 15th August 2025 Dividend yield will be 2.0%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (46% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 26
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: ₹55.95 (down from ₹62.24 in FY 2024). Revenue: ₹73.6b (up 3.0% from FY 2024). Net income: ₹6.16b (down 9.8% from FY 2024). Profit margin: 8.4% (down from 9.6% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 2.5%. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jun 25
Cyient Limited, Annual General Meeting, Jul 16, 2025 Cyient Limited, Annual General Meeting, Jul 16, 2025, at 15:00 Indian Standard Time. Price Target Changed • Apr 26
Price target decreased by 10% to ₹1,446 Down from ₹1,608, the current price target is an average from 23 analysts. New target price is 24% above last closing price of ₹1,171. Stock is down 38% over the past year. The company is forecast to post earnings per share of ₹65.17 for next year compared to ₹55.95 last year. Reported Earnings • Apr 25
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: ₹55.95 (down from ₹62.24 in FY 2024). Revenue: ₹73.6b (up 3.0% from FY 2024). Net income: ₹6.16b (down 9.8% from FY 2024). Profit margin: 8.4% (down from 9.6% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 2.5%. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year and the company’s share price has also increased by 10% per year. Duyuru • Apr 24
Cyient Limited Recommends Final Dividend for the Financial Year 2024 - 2025 Cyient Limited informed that the Board of Directors of the Company has recommended Final Dividend of INR 14/- per equity share (i.e. 280%) on par value of INR 5/- per share for the financial year 2024 - 2025. Duyuru • Apr 08
Cyient Limited Appoints Suman Narayan as the CEO of Cyient Semiconductors Cyient Limited announced that have appointed Suman Narayan as the CEO of Cyient Semiconductors. Suman is an accomplished professional in the semiconductor space with a proven track record of managing large organizations, scaling semiconductor businesses, and driving digital transformation. His expertise in semiconductor products and ASIC development will be instrumental in shaping the future of Cyient Semiconductors. Duyuru • Mar 16
Cyient Limited Approves Appointment of Ms. Debjani Ghosh as Non-Executive Independent Director Cyient Limited announced that the at its postal ballot, shareholders approved the appointment of Ms. Debjani Ghosh as Non-Executive Independent Director. Duyuru • Mar 10
Cyient Limited Announces Executive Changes Cyient Limited announced that Mr. K.A. Prabhakaran has been appointed as Senior Vice President and Chief Technology Officer of the Company in place of Mr. Rajaneesh Kini effective March 10, 2025. Prabhakaran is an accomplished professional in the engineering & research and development sector with over 30 years of experience. He is an engineering leader who has successfully driven digital transformations, product and process technology innovations building global partnerships with research and academic institutions. He has led large global teams in different industries, such as Aerospace, Oil & Gas, Life Sciences, and Renewable Energy verticals, developing new products and solutions creating organic growth pathways. His expertise is building technology solutions for large OEMs in areas like avionics. Duyuru • Feb 19
Cyient Limited Appoints Sukamal Banerjee as Executive Director and Chief Executive Officer of its DET Business Cyient Limited announced the appointment of Sukamal Banerjee as Executive Director and Chief Executive Officer of its DET business, effective February 19, 2025. He will also serve on the Board of Directors of the company. Sukamal is an accomplished professional and an acknowledged leader in the ER&D and Technology sector with over 30 years of experience. He spent most of his career in HCL Technologies, culminating in the role of Corporate Vice President responsible for engineering business. Most recently, Sukamal was the CEO and Member of the Board of Xoriant. Sukamal has established and grown business lines and created market-leading business partnerships for global accounts with an engineering and technology focus. These include areas like Digital Industry 4.0, and AI/ML across sectors spanning Communications, Semiconductor, Energy, and Transportation, Automotive & Mobility, and Healthcare & Life Sciences, which align well with Cyient's major customer segments. Sukamal brings thought leadership in transitioning industries across technological changes and building global capabilities across geographies. Buy Or Sell Opportunity • Jan 31
Now 25% overvalued Over the last 90 days, the stock has fallen 21% to ₹1,454. The fair value is estimated to be ₹1,160, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 12%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 19% per annum over the same time period. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₹1,363, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 27x in the IT industry in India. Total returns to shareholders of 51% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹1,028 per share. New Risk • Jan 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.8% average weekly change). Price Target Changed • Jan 24
Price target decreased by 11% to ₹1,839 Down from ₹2,059, the current price target is an average from 22 analysts. New target price is 37% above last closing price of ₹1,345. Stock is down 33% over the past year. The company is forecast to post earnings per share of ₹57.74 for next year compared to ₹62.24 last year. Declared Dividend • Oct 26
First half dividend of ₹12.00 announced Dividend of ₹12.00 is the same as last year. Ex-date: 6th November 2024 Payment date: 23rd November 2024 Dividend yield will be 1.7%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 62% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 25
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: ₹16.28 (up from ₹16.27 in 2Q 2024). Revenue: ₹18.5b (up 4.0% from 2Q 2024). Net income: ₹1.79b (flat on 2Q 2024). Profit margin: 9.7% (in line with 2Q 2024). Revenue exceeded analyst estimates by 8.8%. Earnings per share (EPS) also surpassed analyst estimates by 8.2%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 19% per year. Duyuru • Oct 24
Cyient Limited Declares Interim Dividend for the Financial Year 2024-25, Payable by 21 November 2024 by 21 November 2024 informed that the Board of Directors of the Company has declared an Interim Dividend of INR 12 per equity share (240%) on par value of INR 5 per share for the financial year 2024-25. Further, this is to inform that 6 November 2024 is fixed as the record date for the above purpose and the dividend will be paid by 21 November 2024. Buy Or Sell Opportunity • Oct 24
Now 22% overvalued The stock has been flat over the last 90 days, currently trading at ₹1,778. The fair value is estimated to be ₹1,453, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. Recent Insider Transactions • Sep 16
CEO & Executive Director recently sold ₹10m worth of stock On the 9th of September, Karthikeyan Natarajan sold around 5k shares on-market at roughly ₹2,031 per share. This transaction amounted to 4.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Karthikeyan has been a net seller over the last 12 months, reducing personal holdings by ₹107m. Recent Insider Transactions • Sep 08
Insider recently sold ₹10m worth of stock On the 2nd of September, Ajay Aggarwal sold around 5k shares on-market at roughly ₹2,010 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹294m more than they bought in the last 12 months. Recent Insider Transactions • Sep 04
President & CFO recently sold ₹10m worth of stock On the 27th of August, Prabhakar Atla sold around 5k shares on-market at roughly ₹2,009 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹29m. Prabhakar has been a net seller over the last 12 months, reducing personal holdings by ₹19m. Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹1,935, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 31x in the IT industry in India. Total returns to shareholders of 118% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹1,460 per share. Buy Or Sell Opportunity • Aug 14
Now 22% overvalued Over the last 90 days, the stock has fallen 1.7% to ₹1,735. The fair value is estimated to be ₹1,426, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. Price Target Changed • Jul 27
Price target decreased by 8.8% to ₹1,971 Down from ₹2,161, the current price target is an average from 19 analysts. New target price is 10% above last closing price of ₹1,790. Stock is up 22% over the past year. The company is forecast to post earnings per share of ₹65.85 for next year compared to ₹62.24 last year. Reported Earnings • Jul 26
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: ₹13.09 (down from ₹15.35 in 1Q 2024). Revenue: ₹17.0b (flat on 1Q 2024). Net income: ₹1.44b (down 14% from 1Q 2024). Profit margin: 8.5% (down from 10.0% in 1Q 2024). Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) also missed analyst estimates by 23%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 22% per year. Duyuru • Jul 01
Cyient Limited Approves Final Dividend for the Financial Year 2023-2024 Cyient Limited at its AGM held on July 01, 2024, approved to confirm the payment of interim dividend of INR 12/- on the equity shares and to declare a final dividend of INR 18/- on the equity shares for the financial year 2023-24. Recent Insider Transactions • Jun 13
CEO & Executive Director recently sold ₹29m worth of stock On the 7th of June, Karthikeyan Natarajan sold around 15k shares on-market at roughly ₹1,921 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Karthikeyan has been a net seller over the last 12 months, reducing personal holdings by ₹108m. Declared Dividend • Jun 13
Final dividend increased to ₹18.00 Dividend of ₹18.00 is 13% higher than last year. Ex-date: 21st June 2024 Payment date: 31st July 2024 Dividend yield will be 1.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (48% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 54% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • May 31
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Nitin Prasad was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Apr 27
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: ₹62.24 (up from ₹47.04 in FY 2023). Revenue: ₹71.5b (up 19% from FY 2023). Net income: ₹6.83b (up 33% from FY 2023). Profit margin: 9.6% (up from 8.5% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.9%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Apr 26
Cyient Limited Recommends Final Dividend for the Financial Year 2023-2024 The Board of Directors of Cyient Limited have recommended a Final Dividend of INR 18/- (i.e 360%) per equity share on face value of INR 5/- per share, for the financial year 2023-24. Duyuru • Apr 12
Cyient Limited to Report Q4, 2024 Results on Apr 25, 2024 Cyient Limited announced that they will report Q4, 2024 results on Apr 25, 2024 Reported Earnings • Jan 26
Third quarter 2024 earnings: EPS misses analyst expectations Third quarter 2024 results: EPS: ₹13.41 (down from ₹14.26 in 3Q 2023). Revenue: ₹18.4b (up 14% from 3Q 2023). Net income: ₹1.47b (down 5.6% from 3Q 2023). Profit margin: 8.0% (down from 9.6% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 25%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the IT industry in India. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jan 10
Price target increased by 8.7% to ₹2,201 Up from ₹2,025, the current price target is an average from 17 analysts. New target price is approximately in line with last closing price of ₹2,224. Stock is up 162% over the past year. The company is forecast to post earnings per share of ₹67.67 for next year compared to ₹47.03 last year. Recent Insider Transactions • Jan 06
Insider recently sold ₹5.8m worth of stock On the 29th of December, Prabhakar Shetty sold around 3k shares on-market at roughly ₹2,300 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹59m. Insiders have been net sellers, collectively disposing of ₹531m more than they bought in the last 12 months. Recent Insider Transactions • Jan 02
Insider recently sold ₹59m worth of stock On the 26th of December, Anand Parameswaran sold around 25k shares on-market at roughly ₹2,345 per share. This transaction amounted to 52% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹526m more than they bought in the last 12 months. Duyuru • Jan 01
Cyient Limited to Report Q3, 2024 Results on Jan 25, 2024 Cyient Limited announced that they will report Q3, 2024 results on Jan 25, 2024 Recent Insider Transactions • Dec 20
Insider recently sold ₹11m worth of stock On the 12th of December, Shrinivas Kulkarni sold around 5k shares on-market at roughly ₹1,994 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹368m more than they bought in the last 12 months. Recent Insider Transactions • Dec 06
President & Head of Corporate Functions recently sold ₹2.0m worth of stock On the 29th of November, P. N. S. Narasimham sold around 1k shares on-market at roughly ₹1,960 per share. This transaction amounted to 5.2% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹8.6m. P. N. S. has been a net seller over the last 12 months, reducing personal holdings by ₹6.3m. Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹2,189, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 26x in the IT industry in India. Total returns to shareholders of 394% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹1,170 per share. Recent Insider Transactions • Nov 23
President & CFO recently sold ₹8.6m worth of stock On the 20th of November, Prabhakar Atla sold around 5k shares on-market at roughly ₹1,718 per share. This transaction amounted to 53% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹9.0m. Prabhakar has been a net seller over the last 12 months, reducing personal holdings by ₹19m. Upcoming Dividend • Oct 25
Upcoming dividend of ₹12.00 per share at 1.6% yield Eligible shareholders must have bought the stock before 01 November 2023. Payment date: 18 November 2023. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 1.6%. Within top quartile of Indian dividend payers (1.4%). In line with average of industry peers (1.5%). Reported Earnings • Oct 22
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: EPS: ₹16.27 (up from ₹7.24 in 2Q 2023). Revenue: ₹17.8b (up 27% from 2Q 2023). Net income: ₹1.78b (up 125% from 2Q 2023). Profit margin: 10.0% (up from 5.7% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.6%. Earnings per share (EPS) missed analyst estimates by 2.7%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Software industry in India. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 58% per year, which means it is tracking significantly ahead of earnings growth.