Cyient JV with HAL faces liquidation as NCLT orders wind-up

Cyient Limited has informed stock exchanges that the 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).

The tribunal has appointed Mr Vasudevan Gopu as the liquidator for the company. Cyient said it 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.

Separately, Cyient reported a mixed performance for the third quarter. Net profit declined 28% quarter-on-quarter to ₹91.8 crore from ₹127.5 crore in the previous quarter.

Revenue rose 3.8% QoQ to ₹1,848.5 crore from ₹1,781 crore, while EBIT increased 13.6% to ₹167 crore from ₹147 crore. The EBIT margin expanded to 9% from 8.2% QoQ, supported by operational efficiencies and a shift toward higher-value projects.

Also read: Cyient Q3 Results: Net profit slides 28% QoQ; revenue, margins rise; AI focus to aid recovery

Shares of Cyient Limited  closed at ₹877.00, down ₹22.50 or 2.50% on the NSE.