Cigniti Technologies Limited (IN:CIGNITITEC)
:CIGNITITEC
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Cigniti Technologies Limited
(CIGNITITEC)
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Rating:66Neutral
Price Target:
₹1,164.00
▼(-28.11% Downside)
Action:DowngradedDate:02/25/26
Score is driven by strong financial performance (growth, low leverage, and excellent free cash flow), partially offset by very weak technicals (price below key moving averages and negative MACD). Valuation is supportive with a reasonable P/E, but no dividend yield data is available.
Positive Factors
Specialized quality engineering services
Cigniti's focused business model—independent validation, test automation, performance and security testing—creates a durable niche. Specialization supports pricing power, repeatable engagements, and deeper technical moat versus generalist IT services, aligning with ongoing DevOps adoption.
Negative Factors
Latest-year net income decline
A recent drop in net income, despite revenue growth, may reflect margin erosion from higher costs, pricing pressure, or one-off items. If persistent, it can undermine free cash flow conversion and limit reinvestment, making profitability recovery a medium-term strategic priority.
Read all positive and negative factors
Positive Factors
Negative Factors
Specialized quality engineering services
Cigniti's focused business model—independent validation, test automation, performance and security testing—creates a durable niche. Specialization supports pricing power, repeatable engagements, and deeper technical moat versus generalist IT services, aligning with ongoing DevOps adoption.
Read all positive factors
Cigniti Technologies Limited (CIGNITITEC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹32.81B
Dividend YieldN/A
Average Volume (3M)1.48K
Price to Earnings (P/E)14.0
Beta (1Y)1.20
Revenue Growth14.00%
EPS Growth94.80%
CountryIN
Employees3,891
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)29.20
Shares Outstanding27,546,959
10 Day Avg. Volume1,209
30 Day Avg. Volume1,477
Financial Highlights & Ratios
PEG Ratio0.97
Price to Book (P/B)4.00
Price to Sales (P/S)1.91
P/FCF Ratio26.38
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Cigniti Technologies Limited Business Overview & Revenue Model
Company Description
Cigniti Technologies Limited provides software testing services worldwide. The company offers digital assurance services, such as artificial intelligence, Internet of Things, blockchain, big data and analytics, and mobile testing services, as well...
How the Company Makes Money
Cigniti primarily makes money by providing software quality engineering (QE) and testing services to enterprise clients under services contracts. Revenue is typically earned through (a) time-and-materials or fixed-price project engagements for tes...
Cigniti Technologies Limited Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
82
Very Positive
Cash Flow
88
Very Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 21.48B | 20.14B | 18.15B | 16.48B | 12.42B | 8.97B |
| Gross Profit | 8.52B | 7.96B | 6.91B | 6.83B | 4.94B | 3.70B |
| EBITDA | 3.98B | 2.89B | 2.55B | 2.52B | 1.43B | 1.59B |
| Net Income | 2.85B | 2.00B | 1.66B | 1.68B | 917.44M | 1.05B |
Balance Sheet | ||||||
| Total Assets | 14.79B | 12.39B | 10.06B | 8.46B | 6.98B | 5.32B |
| Cash, Cash Equivalents and Short-Term Investments | 2.31B | 4.00B | 4.08B | 2.82B | 2.36B | 2.08B |
| Total Debt | 267.00M | 279.38M | 572.35M | 557.66M | 800.40M | 456.76M |
| Total Liabilities | 3.50B | 2.76B | 2.68B | 2.57B | 2.38B | 1.60B |
| Stockholders Equity | 11.28B | 9.63B | 7.38B | 5.89B | 4.60B | 3.72B |
Cash Flow | ||||||
| Free Cash Flow | 1.89B | 1.46B | 1.24B | 1.44B | 175.96M | 1.42B |
| Operating Cash Flow | 1.89B | 1.60B | 1.29B | 1.57B | 382.14M | 1.45B |
| Investing Cash Flow | -2.12B | -176.07M | -381.20M | -564.62M | -523.61M | -438.70M |
| Financing Cash Flow | -63.00M | -175.82M | -395.05M | -687.61M | -196.60M | -143.36M |
Cigniti Technologies Limited Technical Analysis
Neutral
1619.25
Price Trends
1250.38
Positive
1491.56
Negative
1578.13
Negative
Market Momentum
15.30
Negative
63.59
Neutral
87.35
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:CIGNITITEC, the sentiment is Neutral. The current price of 1619.25 is above the 20-day moving average (MA) of 1166.61, above the 50-day MA of 1250.38, and above the 200-day MA of 1578.13, indicating a neutral trend. The MACD of 15.30 indicates Negative momentum. The RSI at 63.59 is Neutral, neither overbought nor oversold. The STOCH value of 87.35 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:CIGNITITEC.
Cigniti Technologies Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹42.48B | 32.89 | ― | 0.58% | 19.90% | -8.49% | |
68 Neutral | ₹18.80B | 21.87 | ― | 0.42% | 19.12% | 24.14% | |
66 Neutral | ₹32.81B | 14.03 | ― | ― | 14.00% | 94.80% | |
65 Neutral | ₹19.70B | 74.37 | ― | 1.83% | 81.12% | -32.94% | |
62 Neutral | ₹31.55B | 25.72 | ― | 3.06% | 12.43% | 41.88% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | ₹28.32B | -5.57 | ― | ― | 20.36% | 34.91% |
* Technology Sector Average
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Cigniti Technologies Limited Corporate Events
Cigniti Completes Shift to New Registrar MUFG Intime for Shareholder Services
Apr 9, 2026
Cigniti Technologies Limited announced that it has completed the transition of its Registrar and Share Transfer Agent from Aarthi Consultants Private Limited to MUFG Intime India Private Limited, effective April 9, 2026. The change, confirmed by b...
Cigniti Says NCLT Reserves Order on Amalgamation With Coforge
Mar 27, 2026
Cigniti Technologies Limited has announced that the National Company Law Tribunal has reserved its order for formal pronouncement on the proposed scheme of amalgamation under which Cigniti will be merged into Coforge Limited, along with their resp...
Cigniti Publishes Unaudited Q3 and Nine-Month FY2025 Results in Newspapers
Jan 24, 2026
Cigniti Technologies Limited has notified the stock exchanges that it has published its unaudited financial results for the quarter and nine months ended 31 December 2025 in leading Hindi and English business newspapers, Jansatta and Financial Exp...
Cigniti Board Clears Q3 FY26 Unaudited Results With Clean Review
Jan 22, 2026
Cigniti Technologies Limited’s board has approved the company’s unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025, along with an unmodified limited review report from its sta...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.