Cyient Ltd - Stock Valuation and Financial Performance

BSE: 532175 | NSE: CYIENT | IT - Software | Small Cap

Cyient Share Price

1,338.15 -16.15 -1.19%
as on 25-Feb'25 13:29

DeciZen - make an informed investing decision on Cyient

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Cyient stock performance -

P/E Ratio (CD):
23.70
Market Cap:
15,036.4 Cr.
52-wk low:
1,294.8
52-wk high:
2,189

Is Cyient Ltd an attractive stock to invest in?

1. Is Cyient Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Cyient Ltd is a good quality company.

2. Is Cyient Ltd undervalued or overvalued?

The key valuation ratios of Cyient Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

3. Is Cyient Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Cyient Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Cyient:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Cyient Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 25.2%21.7%21.1%22.7%23.5%17.5%16.7%22%19.9%22.7%-
Value Creation
Index
0.80.60.60.70.70.30.20.60.51.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 2,7363,0943,5863,9144,6184,4274,1324,5346,0167,1477,312
Sales YoY Gr.-13.1%15.9%9.2%18%-4.1%-6.7%9.7%32.7%18.8%-
Adj EPS 27.725.930.232.244.127.535.54548.26657.2
YoY Gr.--6.7%16.9%6.5%37.1%-37.7%29.3%26.8%7%36.9%-
BVPS (₹) 164.1162.7186.2206.2231.6231.9267.4280.2309378.5474.6
Adj Net
Profit
312291340362488302391497533731634
Cash Flow from Ops. 362278420296370582856635554726-
Debt/CF from Ops. 0.40.80.5110.70.40.51.70.6-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 11.3%9.1%20%18.8%
Adj EPS 10.1%8.4%22.9%36.9%
BVPS9.7%10.3%12.3%22.5%
Share Price 9.4% 25.4% 18.2% -35.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
18.215.817.216.319.911.814.216.416.218.913.4
Op. Profit
Mgn %
14.313.313.313.713.712.414.618.216.718.216.1
Net Profit
Mgn %
10.89.29.49.210.56.89.5118.910.58.7
Debt to
Equity
0.10.10.10.10.10.20.10.10.30.1-
Working Cap
Days
17815815519019121221616512412893
Cash Conv.
Cycle
2929242230393625263455

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 20.04%

Net Profit is growing at healthy rate in last 3 years 22.91%

Return on Equity has declined versus last 3 years average to 13.40%

Sales growth is not so good in last 4 quarters at 3.84%

Latest Financials - Cyient Ltd.

Standalone Consolidated
TTM EPS (₹) 100.9 57.2
TTM Sales (₹ Cr.) 2,417 7,312
BVPS (₹.) 337.6 474.6
Reserves (₹ Cr.) 3,693 5,213
P/BV 4.01 2.85
PE 13.42 23.70
From the Market
52 Week Low / High (₹) 1294.75 / 2189.00
All Time Low / High (₹) 4.15 / 2457.00
Market Cap (₹ Cr.) 15,036
Equity (₹ Cr.) 55.5
Face Value (₹) 5
Industry PE 31.5

Quarterly Results

 Mar'24 YoY Gr. Rt. %Jun'24 YoY Gr. Rt. %Sep'24 YoY Gr. Rt. %Dec'24 YoY Gr. Rt. %
Sales (₹ Cr.) 1,861 6.31,676 -0.61,849 41,926 5.8
Adj EPS (₹) 17 0.412.7 -17.416.1 -1.914.1 -9.5
Op. Profit Mgn % 18.02 -37 bps15.81 -290 bps16.05 -227 bps14.48 -342 bps
Net Profit Mgn % 10.56 -14 bps8.65 -151 bps10.09 -48 bps8.42 -136 bps

Management X-Ray of Cyient:

Shareholding Pattern

JavaScript chart by amCharts 3.21.5
JavaScript chart by amCharts 3.21.5Promoters:23.14%Institutions:58.55%Non-Institutions:18.31%

Promoter's Holding & Share Pledging

JavaScript chart by amCharts 3.21.5Sep22Dec22Mar23Jun23Sep23Dec23Mar24Jun24Sep24Dec240%5%10%15%20%25%
Pledged *1.301.301.301.300.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Cyient

MRP
spaceLock icon
MOS
spaceLock icon%
DP
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Base EPS
spaceLock icon
DPS
spaceLock icon
MRP: ₹ 0
DP: ₹0
Base EPS ₹:
DPS ₹:
MOS (%):
Expected EPS Growth Rate:
0%
Base 0%
50%
Expected Rate of Return:
0%
Base 0%
50%
Future PE:
0
Base 0
200
YTD 1Y 3Y 5Y 10Y Max
YTD 1Y 3Y 5Y 10Y Max
YTD 1Y 3Y 5Y 10Y Max
YTD 1Y 3Y 5Y 10Y Max

Event Update

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Analyst's Notes

Cyient: Q1FY24 Result Update - 07 Aug 2023

Particulars

Q1FY24

YoY Trend

Comments

Revenue

1,686

+35%

Digital, Engineering & Technology Revenues (DET) were up 31% CC(Constant Currency basis) YoY but flat QoQ

EBITDA

316

+63%

 

EBITDA Margin

18.7%

+310 bps

DET EBIT margins, at 16.1%, were highest in last 9 years

PAT

169

+44%

 

Under DET, Aerospace (+2.3% cc QoQ), Sustainability (+4.5% cc QoQ) and Automotive (+3.1% cc QoQ). Though there was slowdown in the sector, growth momentum was stable.

 

Cyient: Q4FY23 Result Update - 28 Apr 2023

Cyient reported QoQ revenue growth of 8.1% to US$213 mn, with a CC growth of 6.6%. Consolidated services revenue for the quarter was US$176.2 mn, up 4.9% QoQ, and in CC terms, it grew 3.2%. In rupee terms, the company reported revenue of INR 1751.4 crore, up 8.2% QoQ. For FY23, the company reported a group-level revenue of US$746.3 mn, up 22.7% (26.9% in CC terms), while consolidated services revenue grew 25.6% to US$632.4 mn (30.2% in CC terms). The company reported normalised consolidated services EBIT margin at 13.7%, and normalised Group EBIT margin at 12.8%.

Strong quarter with better-than-expected organic growth in the services segment, continued margin expansion and impressive guidance for FY24E.

 

Cyient Ltd. :Result Update - Q3FY23 - 23 Jan 2023

Cyient | Market Cap: Rs. 9,700 Cr

CMP 880 | P/E 18x FY23

Results

INR Cr.

Y-o-Y Growth

Comments

Revenue

1,618

36.7%

Group growth at 28.6% CC YoY and 13.4% QoQ Services growth at 34.4% CC YoY and 11.9% CC QoQ.

EBIT

232

25.4%

Normalised services EBIT margin without acquisitions & exceptional items increased ~190 bps to 15.1%

PAT

156

18.2%

Net Margin came in at 9.6% from 11.2% (Y-o-Y)

Click here for 10-year X-ray  


Key highlights:

·Company received about 5 large deals and 2 of them are coming from Aerospace and 2 from Energy & Utilities and 1 from Automotive &   Mobility, leading to about $60 million working contract potential.

·Services growth stood at 11.9% CC QoQ and 11.2% in USD terms where ARC witnessed growth of 1.7% CC QoQ, MEU witnessed growth   of 6.8% CC QoQ and New Growth Areas witnessed growth of 8.0% CC QoQ.

·Offshore mix for Q3 at 46.2%, Utilization for Q3 at 90.9%, up by 635 bps QoQ.

·Group witnessed growth of 13.4% cc QoQ and 12.7% in USD terms.

 

Management Outlook:

·Management sees good momentum in organic business with Q4 organic revenue in constant currency expected to be higher than Q3 driven by growth in Aerospace, Mining, Communications & Automotive.

·Management keen on adding 14-15% in FY23 revenue due to acquisitions in constant currency

·Management expects FY23 normalized EBIT margins for the organic business to be in the range of 13-14% for the group.

·Management expects FY23 normalized EBITDA margins to be in the range of 16-17%for the group.

·Management reiterated that in FY '24, company confident of $1 billion run rate visibility and the EPS next year expected to be Rs. 60.

Cyient: Quarterly Result Update - 17 Jan 2020

Results: Cyient reported 7% decline in sales over last year and 12.5% decline in operating profit (EBITDA) over same period.

Key Highlight:

  • Aerospace & Defence (32% of sales) declined -9% and transportation (10%) fell -15% year on year. Communications (24%) has grown 1.1%.
  • EBIT margins have been resilient, thanks to cost cutting measures.
  • Design business (mechanical engg) has seen -27% decline as the management exited low margins projects.
  • Cash conversion was ~100% due to better recovery receivables from clients.
  • Current cash on balance sheet ~ Rs 100/share.

Outlook: As expected Aerospace & Defence has been taking overall sales down along with design projects. The management’s expectation on margin is very good but sales growth expectations do not appear optimistic.

We had sold Cyient at 405/share at loss of 10-15% as we are afraid that fall in Aerospace sales can lead to steeper fall in profits and hence the stock price. At the same time, the growth prospects not so great due to slowdown in large segment at current juncture. Our earlier hypothesis that Aerospace will bounce back and start growing wasn’t likely to pan out hence we exited quickly. We will buy after we see sustainable growth trajectory rather than holding on to stock where we see downside risk. 

Cyient: SELL; Negative impact of Boeing issues - 24 Oct 2019

In our previous note we had written, “Current fall in stock price is due to client specific issues as Boeing is struggling with Max 737 issues.” We often get opportunities to buy companies at bargain due to near term issues, this was one more example of the same.

We believe that the risk in Boeing has increased significantly with new spate of allegations from the pilots and insiders.

Federal regulators on Friday demanded Boeing explain why it withheld documentation of employees' concerns with a software system which investigators have linked to two fatal crashes of the 737 MAX. -CNN

We earlier believed that the problems will be rectified at Boeing’s end by 2 quarters as per its management but new accusations can lead fall in new orders and deliveries of Boeing. In this case, we find it hard to believe Cyient's management expectations for normalization over H2FY20.

Pratt Whitney (sales linked to Boeing) forms around 30% of total sales. We are afraid that Cyient may not be able to manage costs and this drop in sales can lead to fall in profits even more severely. The risk of small cap IT – client concentration – is likely to pan out in Cyient.

We are suggesting SELL based on risk of losing significant sales and dent on profitability over subsequent quarters and may extend to 1-2 years.

Today the stock closed at 403/share. We suggest booking a loss of around 10-15% in the stock depending on your purchase price. It has affected our portfolio performance by 0.5%.

We will buy Cyient again if we see the issues with Top client resolve over 4-8 quarters. We have changed our opinion on Cyient as soon as new facts emerged. We expect to recover our loss from other investments or Cyient itself when we see company recovering from current issues.

Cyient: No negative surprises; Improving margins - 20 Oct 2019

Results: Cyient reported a negative growth of -2.36% in sales year on year. Operating profit was -0.6% year over year and improved from previous quarter due to better cost management.

Sales growth was negative:-

- Like previous quarter, the de-growth was from issues from its top client Boeing.

- Quarterly sales growth is one of the widely followed metric. Cyient has done well one QoQ basis.

Operating profit was flat, but improving over previous quarter from cost optimization benefits.

Outlook: From vertical perspective, aerospace and communication are likely to continue to face near-term headwinds due client specific isuses, and cyclicality is adversely impacting Semiconductor, while Transportation and Medical are seeing good traction. Cyient has hired consultants to improve operating margins; however, the benefits will accrue fully in FY21 as company operates at optimum level. 

As highlighted in the past, client concentration is one big risk in small cap IT companies. The very reason we got an opportunity to invest in Cyient is slowdown in sales from two of the top 10 clients.

As highlighted by larger IT companies, there are slowdown fears in US and especially in BFSI and retail segments. We intend to side step slowdown woes, we recommend Cyient as its less exposed reflected by its Geographical mix and segment mix.

In small cap IT firms, the client concentration is a known phenomenon. However, we have given a buy on a Cyient at a considerably cheaper price that takes care of the negatives. At this price, we believe returns of more 15% CAGR would not be a tall ask. Today it trades at 10x forward earnings. Dividend yield is likely to remain atleast 3%. 

Key Ratios of Cyient

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Company Name CMP(₹)
Change ₹(%)
Market Cap
Net Sales (₹ Cr.)
Latest EPS (₹)
Net Profit Margin %
Latest P/E
Latest P/BV
RPSG Ventures 838.4 5.6 (0.7%) Small Cap 7,951 -41 2.5 - 1.1
Cyient 1,338.2 -16.2 (-1.2%) Small Cap 7,147 57.2 10.5 23.7 2.9
Birlasoft 462.2 -8.9 (-1.9%) Small Cap 5,278 20.7 11.8 22.7 3.9
Hexaware Tech. 823.5 19.5 (2.4%) Small Cap 4,985 12 14.3 67.2 4.2
Zensar Technologies 793.6 34.5 (4.5%) Small Cap 4,902 28.5 13.6 26.7 4.5
Tanla Platforms 478.8 -3.6 (-0.7%) Small Cap 3,928 38.6 14.1 12.5 2.9
Intellect Design 715.4 -12 (-1.7%) Small Cap 2,506 19.5 12.9 37.3 3.8
Happiest Minds Tech. 712 -10.2 (-1.4%) Small Cap 1,625 14.6 14.5 49.4 7
Newgen Software Tech 963.2 3.9 (0.4%) Small Cap 1,136 20.7 20.6 46.3 10.5
Dynacons Sys & Sol 1,058 2.6 (0.3%) Small Cap 1,024 53.9 5.3 19.6 6.4
Shows rows:

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales2,7363,0943,5863,9144,6184,4274,1324,5346,0167,147
Operating Expenses 2,3442,6843,1223,3794,0043,8793,5843,7175,0135,858
Manufacturing Costs103118134149171170158189286322
Material Costs46189274307419392526571696966
Employee Cost 1,6761,8132,0492,1882,5472,4782,1612,2673,0263,512
Other Costs 5205646667358688397396911,0041,058
Operating Profit 3924114645356145495488181,0031,289
Operating Profit Margin (%) 14.3%13.3%12.9%13.7%13.3%12.4%13.3%18.0%16.7%18.0%
Other Income 1311121071521531581671128180
Interest 616172033494339100116
Depreciation 718995105111188195192257267
Exceptional Items 0-9-26-5-4000-47-68
Profit Before Tax 446421444541620468477698681918
Tax 110101105138143127113176167216
Profit After Tax 336320340403477341364522514703
PAT Margin (%) 12.3%10.3%9.5%10.3%10.3%7.7%8.8%11.5%8.6%9.8%
Adjusted EPS (₹)31.429.030.536.043.331.133.147.346.561.5
Dividend Payout Ratio (%)25%24%34%36%35%48%51%51%56%49%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 1,8441,8292,0972,3222,5572,5502,9413,0933,4184,201
Share Capital 56565656555555555556
Reserves 1,7881,7722,0402,2662,5022,4952,8863,0383,3634,145
Minority Interest12730-2-3-3-3-3299
Debt128183165241325374318284894353
Long Term Debt4768496311286882494278
Short Term Debt8111511617821428823028240075
Trade Payables275310392381370373453526714688
Others Liabilities 7603851,0731,2191,4981,6541,6378631,4771,388
Total Liabilities 3,0202,7133,7304,1634,7484,9485,3464,7636,5006,928

Fixed Assets

Gross Block1,3581,3071,4391,5771,8552,2762,4392,5414,1604,310
Accumulated Depreciation5706506887798779711,0781,1961,3361,484
Net Fixed Assets7896577517989781,3051,3611,3452,8252,826
CWIP 1010275210414688134557
Investments 101160196143554134445518436
Inventories619894131183227159279436468
Trade Receivables5346156506918147268037331,1271,262
Cash Equivalents 6236958789819719521,4651,267719984
Others Assets9034791,1361,3681,6441,5511,437681830896
Total Assets 3,0202,7133,7304,1634,7484,9485,3464,7636,5006,928

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 362278420296370582856635554726
PBT 446421444557619471477698681918
Adjustment 054397164225239199350346
Changes in Working Capital 33-9437-166-17133269-97-349-261
Tax Paid -117-102-100-165-142-146-129-165-129-278
Cash Flow From Investing Activity -528-85-180-87-220-157-101-382-1,033-533
Capex 2-55-104-147-144-214-95-85-65-78
Net Investments 6-119-24-22482327-325-113-335
Others -53688-5382-12433-3228-855-120
Cash Flow From Financing Activity -32-111-93-136-232-446-253-545-109-266
Net Proceeds from Shares 7221224128715
Net Proceeds from Borrowing 4134-4105032-39-45148-172
Interest Paid -6-18-17-19-30-29-21-17-66-93
Dividend Paid -67-134-62-157-112-263-1-295-263-306
Others -76-1130-141-188-195-20063-410
Net Cash Flow -1988214674-82-21503-292-588-73
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)19.5717.4317.318.2519.5613.3613.2517.3115.818.45
ROCE (%)25.1721.6821.122.6623.4717.4916.6521.9619.9222.71
Asset Turnover Ratio1.031.081.120.991.040.910.80.91.071.06
PAT to CFO Conversion(x)1.080.871.240.730.781.712.351.221.081.03
Working Capital Days
Receivable Days68686462596368625661
Inventory Days891010121717182223
Payable Days1,788566467460328346286313325265

Cyient Ltd Stock News

Cyient Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Cyient on 25-Feb-2025 13:29 is ₹1,338.2.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 25-Feb-2025 13:29 the market cap of Cyient stood at ₹15,036.4.
The latest P/E ratio of Cyient as of 25-Feb-2025 13:29 is 13.42.
The latest P/B ratio of Cyient as of 25-Feb-2025 13:29 is 4.01.
The 52-week high of Cyient is ₹2,189 and the 52-week low is ₹1,294.8.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Cyient is ₹2,417 ( Cr.) .

About Cyient Ltd

Cyient, founded in 1991, is a global engineering and technology solutions company. It engages with customers across their value chain helping to design, build, operate, and maintain the products and services that make them leaders and respected brands in their industries and markets. Customers draw on Cyient’s expertise in engineering, manufacturing, and digital technology to deliver and support their next-generation solutions that meet the highest standards of safety, reliability, and performance.

With over thousands of employees in many countries, Cyient partners with clients to operate as part of their extended team in ways that best suit their organization’s culture and requirements. Cyient’s industry focus includes aerospace and defense, healthcare, telecommunications, rail transportation, semiconductor, geospatial, industrial, and energy.

Business area of the company

The company provides engineering and technology solutions to global industry leaders. As a Design, Build, and Maintain partner, for leading global organizations, Cyient takes solution ownership across the value chain to help clients focus on their core, innovate, and stay ahead of the curve. The company leverages digital technologies, advanced analytics capabilities, and its domain knowledge and technical expertise, to solve complex business problems.

Awards and recognitions

  • General Procurement Key Supplier of the Year, UTC Supply Chain Management, 2006
  • ACE Gold Status, UTC, 2007
  • GITA Excellence Award, GITA-ANZ, 2008
  • International Edison Award, EEI, 2008
  • Supplier Gold, UTC, 2008
  • TomTom Performance Cup, TomTom, 2009
  • Supplier Productivity Innovation Award, Pratt & Whitney, 2010
  • Geospatial Excellence Award, MapAsia, 2010
  • Best IT Implementation Award 2010, PCQuest, 2010
  • B.V.R Mohan Reddy Receives the Prestigious Leadership Award, ASME, 2011
  • Recognized for Innovative HR Practices, Asia Pacific HRM Congress, 2011
  • Boeing Performance Excellence Award, The Boeing Company 2012
  • Supplier of the Year, Hamilton Sundstrand, 2011 and 2010
  • Highest Productivity Award, Pratt & Whitney, 2012, 2011, and 2009
  • Among Global Outsourcing 100 List, IAOP, 2012
  • Supplier of the Year, The Boeing Company, 2012, 2010
  • Leader in R&D Services for Aerospace & Defense and Transportation, Zinnov Consulting, 2012, 2011
  • Golden Peacock Award for Demonstrated Excellence in Corporate Governance 2012
  • Leader in Engineering Services and Outsourced Product Development, Global Services 100, 2012
  • Best Indian Company in the US in Technology and Communications, Indo-American Chamber of Commerce (IACC), 2012
  • National Award for Excellence in Corporate Governance, ICSI, 2014
  • Global Services Supplier of the Year, Alstom Transportation, 2014
  • An ‘Established and Expansive’ Player in Engineering Research and Development (ER&D), Zinnov, 2015
  • Supplier of the Year Award, Boeing, 2015
  • Positioned in the Winner’s Circle, HfS Blueprint Report for Aerospace Engineering Services, 2017
  • Golden Peacock Award for Risk Management, Institute of Directors, 2017
  • Geospatial Solutions Company of the Year Award, Geospatial World Forum, 2017
  • Most Innovative Organizations in India, CII, 2017
  • Leader in Corporate Innovation Award, Indo-American Chamber of Commerce, 2017
  • Everest Group’s V&V Engineering Services Peak Matrix Assessment, 2018
  • Zinnov Zones’ ER&D Services Report, 2018
  • Leader in Transportation Services, Zinnov Zones, 2018
  • Cornerstone Partner, Esri, 2018
  • Best Railway Signalling Design Company, Internal Transport News (ITN), 2018
  • Top 10 Telecom Engineering Service Providers, HfS Research, 2018
  • Pratt & Whitney Supplier Awards, 2018
  • Everest Group’s Peak Matrix Assessment, 2019

Milestones

  • 1991 August:-  Infotech Enterprises was incorporated as a private limited company 
  • 1995 August: - The company received its first ISO 9002 certification from BVQi London for its conversion services  
  • 1997 April - Acquisition of SRG Infotech a 16-year-old local software company providing software services in oracle and Visual basic client server environments. The acquisition brought into the company the assets, customers, technologies, employees and over 500 person years of expertise 
  • 1997 October - Partner in Development with IBM for developing Enterprise wide Information System. Infotech Enterprises diversifies into Business software development by adding 50 developers, creating an independent profit center.  
  • 1998 December - Infotech Enterprises signs a break-through contract to provide GIS conversion, Consulting and Mapping services worth US$ 5.5 million to Analytical Surveys, Inc. (ASI)  
  • 1999 January - Infotech Enterprises enters into an agreement with Navionics Italy the world leader in seamless marine electronic charts for digitization and Conversion services  
  • 1999 June - Infotech and ASI sign a long term contract for ASI to source $ 33 million in conversion and software services from Infotech Enterprises  
  • 1999 July - Infotech Enterprises establishes a wholly-owned subsidiary Infotech Software Solutions Inc in the United States of America in the state of California. The corporation is primarily engaged in the business of supplying computer software and related service 
  • 1999 August - Infotech Enterprises announces acquisition of European based GIS software solution company- Dataview Solutions Limited  The company acquired Dataview with an upfront cash payment of  $1.80 million and issue of stock of Infotech for $1.80 million over the next two years  
  • 1999 September - Infotech Enterprises acquires Cartographic Sciences Pvt. Ltd, Mumbai from Analytical Surveys Inc. US  
  • 2000 January -  Inauguration of the state-of-the-art software development centre spread across 1,30,000 sq ft area in Infocity, Hyderabad. The state-of-the-art development centre is build at an approx. cost of Rs12 crore and can accommodate 4000 software engineers  
  • 2000 April - Merger of Cartographic Sciences with Infotech Enterprises 
  • 2000 May - Infotech Enterprises entered into a Master Services Agreement with Pratt & Whitney, division of UTC Group  
  • 2000 October - Infotech Enterprises announces the acquisition of a German company, Advanced Graphics Software GmbH (AGS). AGS is a nine-year-old mechanical engineering software and services company specializing in 3D CAD/CAM. 
  • 2000 November - Infotech Enterprises won a multimillion dollar GIS project from the Dutch multi-national group, FUGRO  
  • 2001 April - Infotech Europe acquires European GIS distributor Map Centric a leading independent GIS distributor in Europe  
  • 2001 May - Infotech Enterprises bags a contract worth US $ 7 million to provide Photogrammetry service to Triathlon a leading full fledged geomatics company in Canada  
  • 2001 May - Infotech ranks 5th among Top Ten Exporters from Andhra Pradesh for the year 2000-2001  
  • 2001 June - Infotech Enterprises acquires   ten acres of land to set up a software development campus at Manikonda, Hyderabad.  
  • 2001 December - Infotech Enterprises announces the opening of the state-of-the-art engineering services facility in Bangalore, India  
  • 2002 February - Infotech Enterprises announces strategic business relationship with Pratt and Whitney Division of United Technologies Corporation, a Fortune 100 company. Pratt and Whitney to participate with up to 18% equity stake in Infotech, demonstrating long term partnering intent and endorsing Infotech Business competence  
  • 2002 September - Infotech Bags The Federation Of Andhra Pradesh Chambers of Commerce & Industry (FAPPCI) best Information Technology (IT) industry of the state of Andhra Pradesh -2001-2002  
  • 2003 September - Infotech announces the inauguration of a new development centre in Puerto Rico to provide engineering design services and it signs long term outsourcing contact with Bombardier Transportation to provide Engineering Services in India  
  • 2004 January - Infotech Enterprises acquires VARGIS -- a GIS Company in the US  
  • 2004 September - Infotech divests 51% of its stake in Infotech Aerospace Services Inc in favor of United Technologies International Corporation  
  • 2005 March - Infotech acquires Tele Atlas India. Tele Atlas parent company joins as a strategic partner with preferential allotment of shares  
  • 2005 March - Infotech opens branch office in Singapore  
  • 2005 April -  Infotech opens branch office in Melbourne, Australia  
  • 2005 May - Inaugurated Geospatial production facility at Frostburg, Maryland, USA  
  • 2005 September - Won a landmark GIS contract from KPN Telecom and also signs a 5-year major Engineering Design Agreement with Alstom Transport  
  • 2006 March - Signs a major GIS contract with GE for Swisscom and Attained AS9100 certification for MFG-SBI 
  • 2007 February - Infotech Enterprises set-up a development center at Kakinada at the newly developed STPI facility 
  • 2007 May - Joint venture between Infotech and HAL 
  • 2007 June - Joint venture between Infotech and Geospace Integra 
  • 2008 March - Infotech GIS forays into Oil and Gas. Signed contract with IHS 
  • 2008 March - TeleAtlas extends relationship with Infotech – signs another multi year contract. 
  • 2008 May - Infotech signs a three year GIS and data management contract with Powercor, Australia & Citipower limited. 
  • 2008 July - Infotech signs a MoU with Dassault Aviation. 
  • 2008 July - Infotech enters a strategic partnership with Alten Group, S.A. France.
  • 2008 August - Commences operations in Japan. 
  • 2008 September - Infotech acquired TTM (Time to Market), forays into Hitech Industry. 
  • 2008 September - Won the GITA excellence award for EGIS implementation from GITA ANZ 
  • 2008 September - Infotech’s own facility at Noida inaugurated. 
  • 2008 October - Bombardier Transportation renews multi year term contract with Infotech.  
  • 2008 December - Inaugurated a Centre of Excellence for Terex in its Bangalore facility.  
  • 2009 January - Awarded RBNQA Performance Excellence Trophy
  • '2011 - Infotech establishes Integrated Global Aerospace PracticeAwarded ''Supplier of the Year'' by Boeing.Infotech Enterprises Receives Award for its Contribution to German-Indian Business Relationsnfotech Enterprises Ltd. wins Asia's Best Employer Brand Awards 2011 for 'Innovation in Retention Strategy'.
  • 2012 - Infotech Enterprises wins Golden Peacock Award for Demonstrated Excellence in Corporate Governance.
  • 2014- Infotech Enterprises Limited adopted the Cyient name.
  • 2015- Cyient was recognized with the 2015 Supplier of the Year Award by Boeing for the third time, on April 13, 2016.
  • 2016- Cyient to establish a state-of-the-art technology development center in Warangal
  • 2016-: Cyient Inaugurates Global Design Center in Bengaluru for SMEC
  • 2016- Zinnov Zones 2016 Rates Cyient in the Leadership Zone in Four Industry Verticals.
  • 2017- Cyient Partners with ANSYS to Accelerate Innovation and Proof of Concept Designs across Industries.
  • 2017- Cyient Recognized as ‘Leaders in Corporate Innovation’ by Indo-American Chamber of Commerce (IACC).
  • 2018- Cyient Featured in the Top 20 Most Promising Aerospace Tech Solutions Providers List.
  • 2019- Cyient Positioned as an “Established and Expansive” Player in Zinnov Zones’ ER&D Services Report for 2018.
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