Cyient board approves ₹720cr share buyback at ₹1,125 each
Engineering firm Cyient's board has approved a buyback of shares worth ₹720 crore at ₹1,125 each, saying its current stock price doesn't really show the company's true value.
Cyient cash flow supports buyback
Cyient says strong cash flow lets it invest in growth and still give back to shareholders.
"The board felt that the intrinsic value of the company's business fundamentals is not reflected in the current market price. Hence have approved the buyback proposal. While we are making a buyback, we are confident that we will have strong cash flow to invest in future growth," said Executive Vice Chairman and Managing Director, Cyient Krishna Bodanapu.
For FY2025-26, profits hit ₹588 crore, up 7.2%, even though fourth-quarter profit dipped slightly, so overall, things are looking steady for the company.