CyanConnode Secures £70 Million Smart Meter Project in Goa

CyanConnode Holdings ( (GB:CYAN) ) just unveiled an announcement.

CyanConnode Holdings PLC has formalized a significant contract with the Government of Goa’s Electricity Department to deploy approximately 750,000 smart meters, valued at around £70 million. This development involves the creation of a Special Purpose Vehicle, GreenMeter Goa Private Limited, to facilitate the project, marking a strategic advancement in CyanConnode’s operations and reinforcing its position in the smart metering industry.

Spark’s Take on GB:CYAN Stock

According to Spark, TipRanks’ AI Analyst, GB:CYAN is a Neutral.

CyanConnode Holdings shows potential due to its significant revenue growth and strategic expansions in the Indian market, notably through recent major contracts. However, persistent financial challenges, including negative profitability and cash flow issues, weigh heavily on the overall score. Technical indicators suggest a possible rebound, while valuation remains a concern due to ongoing losses.

To see Spark’s full report on GB:CYAN stock, click here.

More about CyanConnode Holdings

CyanConnode Holdings PLC is a global provider specializing in IoT communication and smart metering solutions. The company focuses on delivering advanced metering infrastructure to enhance utility management and efficiency.

Average Trading Volume: 639,181

Technical Sentiment Signal: Strong Sell

Current Market Cap: £26.64M

See more data about CYAN stock on TipRanks’ Stock Analysis page.