CyanConnode Secures £70 Million Smart Metering Contract in Goa

CyanConnode Holdings ( (GB:CYAN) ) has shared an announcement.

CyanConnode Holdings PLC has announced that its Indian subsidiary, DigiSmart Networks Pvt. Ltd., has received a Letter of Intent for a £70 million contract from the Government of Goa’s Electricity Department to deploy 750,000 smart meters. This marks the company’s first major contract as an Advanced Metering Infrastructure Service Provider (AMISP), allowing it to lead smart metering projects in India. The project is expected to begin in the first quarter of FY 2026 and will last for 27 months, followed by a support period. This contract significantly increases CyanConnode’s order book to £180 million, with revenue expected over the next decade, enhancing its growth potential and industry positioning.

Spark’s Take on GB:CYAN Stock

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

CyanConnode Holdings shows potential due to significant revenue growth and strategic expansions in the Indian market. However, persistent financial challenges, including negative profitability and cash flow issues, weigh heavily on the overall score. The technical indicators suggest a possible rebound from oversold conditions, 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 leader in narrowband Radio Frequency (RF) smart mesh networks. The company focuses on providing smart metering solutions and has expanded its market presence by becoming an Advanced Metering Infrastructure Service Provider (AMISP) in India. Its primary products and services include smart meters, RF and cellular communications, cloud services, and meter data management systems.

YTD Price Performance: 45.25%

Average Trading Volume: 816,767

Technical Sentiment Signal: Sell

Current Market Cap: £45.43M

Learn more about CYAN stock on TipRanks’ Stock Analysis page.