Cigniti Technologies (NSE:CIGNITITEC) Long-Term Capital Lease Obligation : ₹86 Mil (As of Mar. 2024)

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What is Cigniti Technologies Long-Term Capital Lease Obligation?

Cigniti Technologies's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was ₹86 Mil.

Cigniti Technologies's quarterly Long-Term Capital Lease Obligation declined from Sep. 2023 (₹141 Mil) to Dec. 2023 (₹0 Mil) but then increased from Dec. 2023 (₹0 Mil) to Mar. 2024 (₹86 Mil).

Cigniti Technologies's annual Long-Term Capital Lease Obligation declined from Mar. 2022 (₹233 Mil) to Mar. 2023 (₹139 Mil) and declined from Mar. 2023 (₹139 Mil) to Mar. 2024 (₹86 Mil).

Cigniti Technologies Long-Term Capital Lease Obligation Historical Data

The historical data trend for Cigniti Technologies's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Cigniti Technologies Long-Term Capital Lease Obligation Chart

Cigniti Technologies Annual Data

Trend

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Long-Term Capital Lease Obligation

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295.35

204.86

232.83

139.17

85.58

Cigniti Technologies Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															-	139.17	140.56	-	85.58

Cigniti Technologies (NSE:CIGNITITEC) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

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Cigniti Technologies (NSE:CIGNITITEC) Business Description

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GURUFOCUS.COM » STOCK LIST » Technology » Software » Cigniti Technologies Ltd (NSE:CIGNITITEC) » Definitions » Long-Term Capital Lease Obligation

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534758:India

Address

MGR Estates, Dwarakapuri Colony, Suite No. 106 and 107, 6-3-456/C, Punjagutta, Hyderabad, TG, IND, 500082

Website

https://www.cigniti.com

Cigniti Technologies Ltd is an India-based company engaged in Independent Software Testing Services. Its test offerings include Quality Engineering, Advisory and Transformation, Next Generation Testing, and Core Testing. The company's services include Agile testing, DevOps QA, Service Virtualization, Test Data Management, mobile testing, digital QA, Big Data and analytics testing, e-commerce testing, energy and utilities, medical device testing and game testing. It also provides functional testing, test automation, performance testing, security testing, enterprise resource planning (ERP) testing, regression testing, and globalization testing amongst others.

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