Cyient Ltd Share Price – NSE  /  BSE

IT - Software, Small Cap

On year on year (YoY) basis, the company's consolidated net profit declined 14.4% while revenue shed by 0.64% in Q1 FY25.

Consolidated profit before tax stood at Rs 194.6 crore in Q1 FY25, registering de-growth of 24.89% QoQ and 11.26% YoY.

The IT firm's normalised profit after tax was at Rs 147.6 crore during the quarter, registering de-growth of 25.03% QoQ and 16.93% YoY to. Normalised EBITDA stood at Rs 265.1 crore in Q1 FY25, down 20.91% QoQ and 16% YoY. Normalised EBITDA margin stood at 15.8% in Q1 FY25 from 18% in Q4 FY24 and 18.7% in Q1 FY24.

The company’s Digital, Engineering, and Technology (DET) business delivered revenue at Rs 1,414.4 crore, recording de-growth of 5.02% QoQ and 2.76% YoY. In constant currency terms, revenue was down by 5% QoQ and 3.6% YoY.

During the quarter, Cyient DET order intake declined by 5.4% YoY.

Krishna Bodanapu, executive vice chairman and managing director, Cyient, said, “We expect DET revenue growth for FY25 to be flattish YoY in constant currency terms due to the Q1 FY25 impact. Our top customer engagement as well as our FY24 exit order intake grew double-digit YoY. We won 5 large deals in DET with a total contract potential of $52.4 million in this quarter. With this, we are confident that we have taken steps to align the supply to the demand. We believe this will translate into improved revenue realization and drive a sharp recovery of growth through the coming quarters.

The announcement of Cyient’s Semiconductor subsidiary marks a significant step forward in our commitment to innovation and excellence across the global semiconductor landscape. Our dedicated approach to turnkey ASIC design and chip sales positions us well to capitalize on the opportunities within the global semiconductor. We also remain committed to strengthening our intelligent engineering solutions across key megatrends.”

Karthikeyan Natarajan, executive director and chief executive officer, Cyient, said, “We secured five large deals this quarter across connectivity, aerospace and sustainability. Our pipeline for the year remains strong, and we are committed to delivering intelligent engineering solutions for our customers. The new growth segments and Sustainability delivered growth YoY.

We had a challenging Q1, however we remain confident that with our balanced portfolio and investment in technology solutions, we will achieve growth in the mid-to-long term to deliver value to stakeholders. I extend my gratitude to all our associates for their dedication and to our customers for their continued trust in us.”

Cyient is a consulting-led, industry-centric, global technology solutions company. It currently operates through eight strategic business units: aerospace & defense; transportation; industrial, energy, and natural resources; semiconductor, internet of things and analytics; medical and healthcare; utilities & geospatial; communications and design-led manufacturing (Cyient DLM).

Powered by Capital Market - Live News

Net profit of Cyient declined 14.40% to Rs 143.90 crore in the quarter ended June 2024 as against Rs 168.10 crore during the previous quarter ended June 2023. Sales declined 0.64% to Rs 1675.70 crore in the quarter ended June 2024 as against Rs 1686.50 crore during the previous quarter ended June 2023.

Powered by Capital Market - Live News

This strategic move positions Cyient to capitalize on the burgeoning semiconductor market in India and globally. The new subsidiary aims to strengthen its position in the semiconductor market by offering top-tier ASIC design and chip sales. The subsidiary will operate under experienced leadership, adapting to market cycles, and more effectively addressing this industry's technology and capital requirements.

Krishna Bodanapu, vice chairman & managing director of Cyient, said, We are happy to announce this strategic initiative that enhances our capabilities in Application Specific Integrated Circuit (ASIC) turnkey design and manufacturing. As the global semiconductor market is expected to hit a trillion dollars by 2030 and the Indian Electronics and Semiconductor Association (IESA) forecasting the industry's growth to $100 billion by 2030, we are well-positioned to capitalize on the vast opportunities for growth and influence in this evolving market.

Cyient's credentials in the semiconductor electronics sector through Cyient DET and Cyient DLM have enabled us to set-up this subsidiary to drive a dedicated focus on turnkey ASIC design and chip sales through a fabless model for analog mixed-signal chips, he added.

Cyient is a global technology company. It provides engineering solutions to over 300 clients, including many top global innovators. The company focuses on creating a digital, autonomous, and sustainable future while prioritizing social responsibility and environmental sustainability.

The IT company reported 28.53% rise in consolidated net profit to Rs 189.2 crore on 2.16% increase in revenue from operations to Rs 1,860.8 crore in Q4 FY24 over Q3 FY24. On year on year (YoY) basis, the company's consolidated net profit jumped 15.93% while revenue grew by 6.25% in Q4 FY24.

Powered by Capital Market - Live News

Cyient has been honored with a Premier Award from its customer RTX, for the third consecutive year.

RTX has recognized Cyient with the Premier Award for performance in 2023 and overall excellence in Cost Competitiveness and Collaboration & Customer Service.

The Premier Award is an annual recognition platform under the RTX Performance+ Program to recognize suppliers with superior performance and that have provided exceptional value to RTX in one of the four key categories: Cost Competitiveness, Technology & Innovation, Business Management, Customer Service, and Collaboration.

Powered by Capital Market - Live News