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IT - Software, Small Cap

Cyient Semiconductors launched seven new gallium nitride (GaN) power devices for the Indian market, developed using Navitas Semiconductor's (Nasdaq: NVTS) industry leading GaN technology.

The launch marks Cyient Semiconductors' first commercial GaN product family and a major milestone in advancing India's domestic power semiconductor ecosystem. The new portfolio is designed to address the rapidly growing demand for high-efficiency, high-power-density solutions across AI data centers, telecommunications, consumer fast charging, industrial power systems, and e-mobility platforms.

Building on the strategic collaboration announced in December 2025, the partnership enables customers in India to access commercially available GaN power solutions with enhanced local support, supply assurance, and alignment with emerging domestic sourcing initiatives.

Under the agreement, Cyient Semiconductors will license Navitas's proven GaN technology for use in India, accelerating the adoption of high-performance GaN solutions across a broad range of markets. In addition, Cyient Semiconductors will serve as a second source for select Navitas GaN devices already in mass production and strengthening supply chain resilience.

Compared to traditional silicon devices, GaN power semiconductors enable significantly higher switching speeds, lower conduction losses, and improved thermal efficiency. These advantages allow system designers to reduce power losses, shrink solution size, simplify thermal management, and increase overall system performance.

Cyient Semiconductors' initial GaN portfolio targets power applications up to 650 V, including consumer USB-PD chargers, laptop and mobile adapters; AC-DC power supplies; AI data center and telecommunications power systems; and e-mobility charging platforms.

Looking ahead, Cyient Semiconductors plans to expand its GaN portfolio through partnerships with local OSATs. Over time, the licensing agreement with Navitas Semiconductor is expected to enable the domestic manufacturing of GaN power devices in India.

Cyient has allotted 3,140 equity shares to associates of the company upon exercise of stock options under Plan ASOP 2015 and ARSUS 2020.

The Board of Cyient at the meeting held on 23rd April 2026 has considered the Final Dividend for the financial year 2025-26 and has not recommended any Dividend.

On a year-on-year basis, the company?s net profit tanked 64.86%, despite a 0.17% increase in total income in Q4 FY26 over Q4 FY25.

The company reported profit before exceptional items and tax of Rs 166.2 crore in Q4 FY26, compared with Rs 252.5 crore in Q4 FY25. The firm reported an exceptional loss of Rs 71.2 crore during the quarter.

The company?s Digital, Engineering, and Technology (DET) business reported revenue of Rs 1,500 crore, registering growth of 0.8% QoQ and 7.4% YoY. In constant currency terms, revenue declined 2.4% QoQ and 1.5% YoY.

Krishna Bodanapu, executive vice chairman and managing director, said, ?In FY26, Cyient Group sustained its growth momentum, with sequential QoQ growth, delivering results in line with expectations across key segments. Our strong cash flow and cash position give us the confidence to invest in the business as well as return value to shareholders. Cyient Semiconductors delivered a strong Q4 with revenues of $7.2 Mn, marking our fourth consecutive quarter of QoQ growth. We have built a strong foundation across high-end services, turnkey ASICs, and proprietary application-specific products?positioning us as India?s largest custom chip company. As we enter FY27, the Board has agreed in principle to explore a market fundraise through a mix of debt and/or equity to support growth, and I am confident that disciplined execution and our strong leadership, IP, and pipeline will continue to propel our trajectory.?

Speaking on the buyback, Krishna said, ?The board of directors trust the fundamentals of our business and believe that its intrinsic value is not reflected in the current market price and hence have approved a proposal for the buyback of equity shares, through a tender offer at a price of Rs 1,125 per equity share, for an aggregate consideration not exceeding Rs 720 crore. While we are making a buyback, we are confident that we will have strong cash flow to invest in future growth. I am confident that with the leadership team, a scalable and resilient operating model, and a value-driven culture, we remain focused on driving profitable growth and long-term value creation.?

Meanwhile, the company?s board approved a share buyback of up to 64 lakh equity shares at Rs 1,125 per share, aggregating to a maximum consideration of Rs 720 crore. The buyback, representing about 5.76% of the total paid-up equity share capital, will be conducted via the tender offer route and is subject to shareholder approval and regulatory norms under SEBI rules and the Companies Act. Notably, promoters and promoter group members will not participate in the buyback, allowing the entire benefit to accrue to public shareholders. The board also decided not to recommend a final dividend for FY26.

Separately, the company announced plans to set up a branch office in Saudi Arabia, signaling its intent to expand its presence in the West Asian market.

Cyient (formerly Infotech Enterprises) is an Indian multinational technology company that is focused on engineering, manufacturing, data analytics, and networks and operations. Infotech Enterprises was established in 1991 in Hyderabad.