Cyient Limited has informed stock exchanges that the National Company Law Tribunal (NCLT), Bengaluru Bench, has ordered the commencement of liquidation proceedings against Infotech HAL Limited, a 50:50 joint venture between Cyient and Hindustan Aeronautics Ltd (HAL). According to reports from CNBC TV18, the tribunal has appointed Mr Vasudevan Gopu as the liquidator for the company. Cyient received the NCLT order on March 3, 2026.
Infotech HAL Limited is a 50:50 joint venture between Cyient and HAL, as previously disclosed in filings dated March 20, 2024, and August 28, 2025. As reported by CNBC TV18, this joint venture structure has now been affected by the NCLT's liquidation order, marking a significant development in the partnership between the two companies.
Separately, Cyient reported mixed performance for the third quarter. According to CNBC TV18, net profit declined 28% quarter-on-quarter to ₹91.8 crore from ₹127.5 crore in the previous quarter. However, the company showed positive momentum in other metrics, with revenue rising 3.8% QoQ to ₹1,848.5 crore from ₹1,781 crore. EBIT increased 13.6% to ₹167 crore from ₹147 crore, while the EBIT margin expanded to 9% from 8.2% QoQ, supported by operational efficiencies and a shift toward higher-value projects.
Shares of Cyient Limited closed at ₹877.00, down ₹22.50 or 2.50% on the NSE following the announcement. As reported by CNBC TV18, the market reaction reflects investor concerns over the liquidation of the joint venture and the mixed quarterly financial results, with the decline in net profit offsetting the positive revenue and margin improvements.
