CyanConnode (LSE:CYAN) reported a strong first-half performance for FY2026, reflecting continued momentum in India’s expanding smart metering market. During the period, the company secured a major £70 million AMISP contract in Goa, a win that almost doubled its order pipeline to £157 million and underlines its growing role in India’s national smart metering rollout.
Revenue for the half year increased 32% year on year to £7.4 million, supported largely by higher hardware shipments. Profitability, however, remained under pressure due to lower margins and rising operating costs. Management said these challenges are being addressed through the introduction of new, lower-cost product offerings aimed at improving margins as volumes scale.
Despite ongoing operational losses, the company’s medium-term outlook remains constructive. CyanConnode expects sustained growth through FY2027, driven by contract execution in India and further expansion into international markets, including the Middle East and North Africa. While recent corporate progress and supportive technical indicators point to potential upside, financial risks remain, particularly around profitability and leverage.
More about CyanConnode Holdings
CyanConnode is a global provider of IoT communications and smart metering solutions focused on energy and infrastructure applications. Its technology portfolio includes narrowband RF mesh, advanced cellular modules, and hybrid communication platforms designed for scalable, cost-effective connectivity. The company’s Omnimesh platform delivers self-forming, self-healing networks, while its Universal Head-End System enables interoperability across multiple technologies. CyanConnode works with utilities and system integrators across regions including India, Southeast Asia, the Middle East, and Europe, supporting the digital transformation of energy networks.
Leave a Reply