Cigniti Technologies Ltd
NSE:CIGNITITEC
Cigniti Technologies Ltd
Cigniti Technologies Ltd. engages in the provision of software testing services. The company is headquartered in Hyderabad, Telangana and currently employs 3,835 full-time employees. The company went IPO on 2004-02-20. The firm is primarily engaged in providing software testing services across the world. The company offers services, including assurance, which includes test automation, security testing and regression testing; engineering, which includes agile testing, performance engineering and services virtualization; digital assurance, which includes cloud migration assurance, medical devices testing and robotic process automation; next-generation testing, which includes artificial intelligence testing, Internet of Things (IoT) testing and blockchain testing, and advisory and transformation, which includes test advisory and transformation services, the testing center of excellence and DevOps transformation. The company serves industries, which includes airlines, banking, communications, energy and utilities, financial services, healthcare and life science, insurance, logistics, media and entertainment, and retail and e-commerce.
Cigniti Technologies Ltd. engages in the provision of software testing services. The company is headquartered in Hyderabad, Telangana and currently employs 3,835 full-time employees. The company went IPO on 2004-02-20. The firm is primarily engaged in providing software testing services across the world. The company offers services, including assurance, which includes test automation, security testing and regression testing; engineering, which includes agile testing, performance engineering and services virtualization; digital assurance, which includes cloud migration assurance, medical devices testing and robotic process automation; next-generation testing, which includes artificial intelligence testing, Internet of Things (IoT) testing and blockchain testing, and advisory and transformation, which includes test advisory and transformation services, the testing center of excellence and DevOps transformation. The company serves industries, which includes airlines, banking, communications, energy and utilities, financial services, healthcare and life science, insurance, logistics, media and entertainment, and retail and e-commerce.
Revenue Growth: Cigniti reported Q3 FY24 revenue of INR 468 crores ($56.2 million), up 9.4% YoY and 3.6% QoQ, showing resilience despite a challenging macro environment.
EBITDA Margin: Q3 EBITDA margin was 13.8%, lower than previous quarters due to one-off legal expenses, but underlying margin remains stable around 14–14.8%.
Order Book Strength: Order book for the next financial year stands at $205 million, with management expressing confidence in double-digit growth ahead.
Digital Engineering Focus: Digital engineering revenue now accounts for 11-12% of total, with plans to push this above 18% next year as investments and hiring begin to pay off.
Client Quality Over Quantity: Six new clients were added this quarter, with a deliberate focus on acquiring larger, more strategic accounts—some expected to become top 10 customers.
Employee Metrics: Attrition remains low at below 13%, with high employee satisfaction and ongoing investments in training and development.
Industry Recognition: The company received several analyst recognitions for digital engineering and assurance, boosting its market positioning.
