Cigniti Technologies Limited (CIGNITITEC) AI Stock Analysis

• Market Cap: ₹40.12B
• Dividend Yield: 0.35%
• Average Volume (3M): 1.55K
• Price to Earnings (P/E): 15.6
• Beta (1Y): 0.93
• Revenue Growth: 12.80%
• EPS Growth: 93.84%
• Country: IN
• Employees: 3,891
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): 24.05
• Shares Outstanding: 27,456,959
• 10 Day Avg. Volume: 1,746
• 30 Day Avg. Volume: 1,549
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹1,854.00
• Price Target Upside: 26.87% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 78 Outperform
• Price Target: ₹1,854.00 ▲(26.87% Upside)

Cigniti Technologies' strong financial performance is the primary driver of its stock score, supported by solid revenue growth and cash flow management. Technical analysis presents mixed signals, with a neutral RSI and positive MACD. Valuation is reasonable, though the lack of a dividend yield may deter some investors.

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 as digital assurance and testing, robotic process automation, cloud migration assurance, and 5G assurance services. It also provides quality engineering services, including DevOps testing, compatibility testing, functional testing, performance testing, security testing, regression testing, test automation, and crowdsourced testing. In addition, the company offers enterprise application assurance services comprising medical device testing, ERP testing, and salesforce testing; and test management services, such as agile testing, service virtualization, and test data management; and test advisory and transformation services. It serves the airlines, banking, communications, energy and utilities, financial services, healthcare and life sciences, insurance, logistics, manufacturing, media and entertainment, retail and ecommerce, and travel and hospitality industries. The company was formerly known as Chakkilam Infotech Limited. Cigniti Technologies Limited was incorporated in 1998 and is headquartered in Hyderabad, India.

How the Company Makes Money

Cigniti Technologies Limited generates revenue primarily through its software testing and quality engineering services. The company's revenue model is based on service contracts with clients across various industries, including banking, healthcare, retail, and telecommunications. Key revenue streams include consultancy fees for quality assurance and testing services, subscription-based models for ongoing testing support, and project-based fees for specific testing assignments. Significant partnerships with technology providers and client agreements contribute to its earnings by expanding its service offerings and providing access to a broader client base. The company's emphasis on leveraging emerging technologies like AI and automation also plays a crucial role in enhancing service efficiency and, consequently, its profitability.

Cigniti Technologies Limited Financial Statement Overview

Summary

Cigniti Technologies exhibits strong financial health with robust revenue growth, effective profitability management, and impressive cash flow performance. The balance sheet shows low leverage and increasing equity, though recent net income trends require monitoring.

Income Statement

Cigniti Technologies has demonstrated strong revenue growth with a consistent upward trajectory in total revenue from 2020 to 2025, indicating robust business expansion. The company's gross profit margin and net profit margin have also shown an improvement, reflecting effective cost management and profitability. The EBIT and EBITDA margins underscore solid operational performance. However, attention should be given to the decrease in net income in the latest year, which might indicate some pressure on bottom-line profitability.

Balance Sheet

The company's balance sheet highlights a healthy financial position with a low debt-to-equity ratio, suggesting conservative leverage and financial stability. The increase in stockholders' equity over the years indicates strong shareholder value growth. Additionally, the equity ratio demonstrates effective asset management. Despite these strengths, monitoring the total debt levels is crucial to ensure continued financial health.

Cash Flow

Cigniti Technologies' cash flow statements reveal a strong free cash flow generation capability, with a significant increase in free cash flow over the years. The operating cash flow to net income ratio is healthy, indicating efficient cash conversion from earnings. The company's ability to maintain positive free cash flow despite varying capital expenditures and financing activities further underscores its strong cash management practices.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	20.14B	20.14B	18.15B	16.48B	12.42B	8.97B
Gross Profit	6.44B	7.96B	6.91B	6.83B	4.94B	3.70B
EBITDA	3.17B	2.89B	2.55B	2.52B	1.43B	1.59B
Net Income	2.00B	2.00B	1.66B	1.68B	917.44M	1.05B
Balance Sheet
Total Assets	12.39B	12.39B	10.06B	8.46B	6.98B	5.32B
Cash, Cash Equivalents and Short-Term Investments	4.00B	4.00B	4.08B	2.82B	2.36B	2.08B
Total Debt	279.38M	279.38M	572.35M	557.66M	800.40M	456.76M
Total Liabilities	2.76B	2.76B	2.68B	2.57B	2.38B	1.60B
Stockholders Equity	9.63B	9.63B	7.38B	5.89B	4.60B	3.72B
Cash Flow
Free Cash Flow	0.00	1.46B	1.24B	1.44B	175.96M	1.42B
Operating Cash Flow	0.00	1.60B	1.29B	1.57B	382.14M	1.45B
Investing Cash Flow	0.00	-176.07M	-381.20M	-564.62M	-523.61M	-438.70M
Financing Cash Flow	0.00	-175.82M	-395.05M	-687.61M	-196.60M	-143.36M

Cigniti Technologies Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1461.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:CIGNITITEC, the sentiment is Negative. The current price of 1461.3 is below the 20-day moving average (MA) of 1625.57, below the 50-day MA of 1623.31, and below the 200-day MA of 1573.83, indicating a bearish trend. The MACD of -23.23 indicates Positive momentum. The RSI at 31.44 is Neutral, neither overbought nor oversold. The STOCH value of 2.44 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:CIGNITITEC.

Cigniti Technologies Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CIGNITITEC	78 Outperform	₹40.12B	15.64	―	0.35%	12.80%	93.84%
SAKSOFT	67 Neutral	₹26.51B	22.02	17.57%	0.40%	19.50%	18.47%
RSYSTEMS	64 Neutral	₹49.33B	25.52	21.02%	3.00%	4.36%	35.84%
DATAMATICS	63 Neutral	₹50.54B	23.84	15.02%	0.59%	15.72%	13.40%
SASKEN	63 Neutral	₹21.08B	50.60	6.38%	2.74%	62.55%	-41.78%
RPSGVENT	51 Neutral	₹27.94B	-41.18	-1.84%	―	23.16%	40.07%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%

Cigniti Technologies Limited Corporate Events

Cigniti Technologies Announces 27th AGM Notice and E-Voting Details

Cigniti Technologies Limited has announced the publication of the notice for its 27th Annual General Meeting, along with details of remote e-voting and the dispatch of its Annual Report. This announcement, published in Jansatta and Financial Express, is part of the company’s compliance with SEBI regulations, ensuring transparency and engagement with its stakeholders.

Cigniti Technologies Releases FY 2024-25 Sustainability Report

Cigniti Technologies Limited has submitted its Business Responsibility and Sustainability Report for the fiscal year 2024-25, which is part of its annual report. The report highlights Cigniti’s commitment to sustainability, diversity, and inclusion, with a notable achievement of a 33% female-to-male ratio in leadership roles. These efforts are aimed at enhancing transparency, accountability, and stakeholder engagement, reinforcing the company’s purpose-driven initiatives and organizational values.

Cigniti Technologies to Hold Virtual AGM with E-Voting

Cigniti Technologies Limited has announced its 27th Annual General Meeting (AGM) scheduled for September 25, 2025, which will be conducted virtually in compliance with regulatory guidelines. The meeting will cover ordinary business such as the adoption of financial statements and the reappointment of a director, as well as special business including the appointment of a new Secretarial Auditor. This virtual AGM and the provision of e-voting facilities reflect the company’s commitment to maintaining shareholder engagement and transparency while adhering to modern corporate governance practices.

Cigniti Technologies Files for Amalgamation with Coforge

Cigniti Technologies Limited has announced the filing of an application with the National Company Law Tribunal for the approval of its amalgamation with Coforge Limited. This merger is expected to impact the company’s operations and market positioning, potentially benefiting shareholders and creditors.