Cigniti Tech. share price & results
- Dec 2025
- Mar 2026
AI-led digital assurance (software testing/QA) and digital engineering services company, now part of Coforge.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 579 | +12.2% YoY | Quarterly, as filed | Quarter to Dec 2025 | Revenue from operations as filed. |
| Operating margin | 18.0 | +2.0 pts YoY | Operating profit / revenue | Quarter to Dec 2025 | For the quarter; a change is in percentage points. |
| Net profit | 80.0 | +25.0% YoY | Quarterly, as filed | Quarter to Dec 2025 | Profit after tax as filed. |
| Return on equity | 27.10 | +1.0 pts | Trailing twelve months | TTM to Dec 2025 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | +0.5 pts | Fiscal year | FY · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Revenue growth (YoY) | 13.98 | +0.8 pts | Trailing twelve months | TTM to Dec 2025 | Revenue change against the same period one year earlier. |
Price
Performance −17.6% 1Y
1Y: ₹1,528.8 on 13 May 2025 → ₹1,260.3. High ₹1,910 (5 Dec 2025), low ₹1,056.3 (17 Mar 2026).
- Previous close
- ₹1,287.7
- Market cap
- ₹3.5k Cr
- 52-week range
- ₹1,056.3 – ₹1,910
- One year
- −19.87%
- Price to earnings (TTM to Dec 2025)
- 11.35×
- Return on equity (TTM to Dec 2025)
- 27.10%
Overview
- Symbol
- NSE:CIGNITITEC
- Sector
- Information Technology
- Exchange
- NSE
- Currency
- INR
What Cigniti Tech. does
Based on the company's own presentations, annual report and earnings calls.
Cigniti Technologies is an independent software testing (digital assurance) and digital engineering services provider, serving enterprise clients across BFSI, healthcare, travel, retail and utilities. It earns revenue from services delivered to active client accounts, largely on a time-and-materials/project basis, supplemented by its own IP-led assurance and automation platforms sold alongside services. In FY2025 the company was acquired by Coforge Limited, and it now operates as a Coforge Company, combining Cigniti's AI-led, platform-first assurance expertise with Coforge's transformation and domain capabilities.
Segments
- Digital Assurance Services
- Digital Engineering Services
- Active clients
- 215+
- Fortune 500 clients served
- 50+
- Delivery locations
- 10+
- Countries with offices
- 9
- Employees ("Cignitians")
- 4,200+
- Wholly owned foreign subsidiaries
- 8
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2020 to Mar 2025).
Financials
What the filings say
Net profit, year on year: +25% (quarter to dec 2025 against dec 2024).
| Line item | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Sales | 456 | 468 | 499 | 516 | 530 | 534 | 567 | 579 |
| Expenses | 426 | 419 | 434 | 431 | 441 | 445 | 471 | 476 |
| Operating profit | 30 | 50 | 65 | 85 | 90 | 89 | 96 | 104 |
| Operating margin | 7.0% | 11.0% | 13.0% | 16.0% | 17.0% | 17.0% | 17.0% | 18.0% |
| Other income | 16 | -24 | 18 | 9 | 17 | 8 | 20 | 10 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| Depreciation | 8 | 8 | 9 | 8 | 8 | 8 | 6 | 5 |
| Profit before tax | 37 | 17 | 72 | 86 | 97 | 89 | 110 | 108 |
| Tax rate | 27.0% | 38.0% | 27.0% | 26.0% | 25.0% | 26.0% | 25.0% | 25.0% |
| Net profit | 27 | 10 | 53 | 64 | 73 | 66 | 83 | 80 |
| EPS (₹ per share) | 9.94 | 3.85 | 19.38 | 23.30 | 26.72 | 24.05 | 30.04 | 29.20 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|
| Sales | 1,648 | 1,816 | 2,013 |
| Expenses | 1,410 | 1,593 | 1,725 |
| Operating profit | 238 | 222 | 290 |
| Other income | 15 | 33 | 20 |
| Interest | 4 | 4 | 4 |
| Depreciation | 26 | 31 | 33 |
| Profit before tax | 221 | 220 | 272 |
| Net profit | 169 | 166 | 200 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 |
|---|---|---|---|---|---|---|
| Equity capital | 28 | 28 | 27 | 27 | 27 | 28 |
| Reserves | 344 | 432 | 562 | 711 | 936 | 1,101 |
| Borrowings | 46 | 80 | 56 | 57 | 28 | 20 |
| Other liabilities | 114 | 158 | 201 | 211 | 248 | 330 |
| Total liabilities | 532 | 698 | 846 | 1,006 | 1,239 | 1,479 |
| Fixed assets | 93 | 113 | 135 | 121 | 121 | 107 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 80 | 120 | 177 | 250 | 146 | 41 |
| Other assets | 358 | 465 | 533 | 635 | 973 | 1,331 |
| Total assets | 532 | 698 | 846 | 1,006 | 1,239 | 1,479 |
| Line item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Cash from operations | 87 | 145 | 38 | 157 | 129 | 160 |
| Cash from investing | -137 | -47 | -50 | -53 | -34 | -12 |
| Cash from financing | -13 | -14 | -20 | -69 | -40 | -18 |
| Net cash flow | -63 | 84 | -31 | 35 | 56 | 130 |
| Free cash flow | 80 | 142 | 18 | 144 | 124 | 147 |
| Line item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Debtor days | 69 | 64 | 67 | 57 | 64 | 74 |
| Cash conversion cycle | 69 | 64 | 67 | 57 | 64 | 74 |
| Working capital days | 25 | 38 | 36 | 39 | 44 | 80 |
| Return on capital employed | 45.0% | 36.0% | 26.0% | 38.0% | 31.0% | 34.0% |
| Dividend payout | 0.0% | 7.0% | 8.0% | 9.0% | 5.0% | 0.0% |
What the price assumes
AttractiveTo justify its price of ₹1260, this stock must grow earnings at 4% every year for 7 years. Our analysis caps realistic growth at ~11%. At that growth it is worth ₹1816 — upside of 44%.
- Growth the price implies
- 3.8% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 8.8% a year
- net profit, FY23–FY25 · EPS 10.6%
- The gap
- -0.1 pp
- 44% downside if it only repeats history
Ownership
Who owns it
Promoters hold 54.00% as of Mar 2026; institutions added 1.11 pts since Dec 2025.
- Promoters 54.00%
- Foreign institutions 10.43%
- Domestic institutions 11.58%
- Public 23.99%
Who bought this quarter
since Dec 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Mutual fund newly disclosed 6.81% held
- AIF newly disclosed 1.17% held
- +1.14 pp 3.19% held
- Mutual fund newly disclosed 1.12% held
- FPI fund newly disclosed 1.09% held
- Foreign bank / ODI newly disclosed 1.04% held
- Foreign bank / ODI +0.22 pp 3.17% held
The same filing shows 1 holder trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2026 filing
Every holder of Cigniti Tech. above SEBI's 1% disclosure line, and what changed since Dec 2025.
| Holder | Stake | Change |
|---|---|---|
| 54.00% | unchanged | |
| Mutual fund | 6.81% | newly disclosed |
| NBFC / DFI | 5.50% | unchanged |
| 3.19% | +1.14 pp | |
| Foreign bank / ODI | 3.17% | +0.22 pp |
| FPI fund | 1.63% | −0.19 pp |
| AIF | 1.17% | newly disclosed |
| Mutual fund | 1.12% | newly disclosed |
| FPI fund | 1.09% | newly disclosed |
| Foreign bank / ODI | 1.04% | newly disclosed |
| Mutual fund | — | off the list |
| — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Your own record
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