IT Consulting & Software company Cyient announced Q2FY25 results Revenue at Rs 1,450 crore, with QoQ growth of 2.5% and YoY degrowth of 1.8%. CC Revenue growth at 1.3% QoQ and degrowth at 3.3% YoY. EBIT of Rs 206 crore, margin of 14.2%. PAT at Rs 177 crore, with YoY growth of 2.3% Krishna Bodanapu, Executive Vice Chairman and Managing Director, said: “Cyient Group witnessed positive Q2FY25 results, with quarterly Group Revenue at USD 220.7 million, growth of 2.6% YoY in constant currency. At a strategic level, we are making strong and continued progress towards unlocking the potential of our Semiconductor business. The partial divestment of our stake in Cyient DLM gives us the flexibility to use the proceeds towards fulfilling our capital requirements across organic and inorganic initiatives in our recently launched Semiconductor business to drive accelerated growth. We have reached an agreement to acquire 27.3% stake in Azimuth AI, a fabless custom ASIC company known for its expertise in Energy and Industrial applications with focus across global markets including India. This investment aligns strongly with our strategic growth objectives for the Semiconductor business. In-line with building further on our expertise in Energy Business we have expanded in the Middle East market and have reached an agreement to acquire Abu Dhabi & Gulf Computer Est. (ADGCE), an Abu Dhabi-based technology consulting and digital services provider primarily catering to the Energy sector.” Karthikeyan Natarajan, Executive Director and Chief Executive Officer, Cyient, said: “Cyient’s Digital, Engineering and Technology (DET) business delivered revenue at USD 173 million, growth of 1.3% QoQ and degrowth of 3.3% YoY in constant currency. DET EBIT margin stood at 14.2%, expansion of 75 bps QoQ. This was driven by solid growth in Aerospace, Connectivity and New Growth Areas. We continue to progressively improve our performance in the subsequent quarters and deliver a strong H2FY25. We are witnessing strong momentum in New Growth Areas. Our top 10 accounts have shown significant growth, underscoring the success of our focused strategy. Our strategic investments in AI solutions and platforms are helping us win new deals and also drive transformation for our customers.” Result PDF
IT Consulting & Software company Cyient announced Q1FY25 results: Cyient DET Revenue at Rs 1,414 crores, with QoQ degrowth of 5% and YoY degrowth of 2.8% Cyient DET CC Revenue degrowth at 5% QoQ and 3.6% YoY Cyient DET EBIT of Rs 190 crores, margin of 13.5% Cyient DET PAT at Rs 141 crores, with YoY degrowth of 17% Commenting on the results, Krishna Bodanapu, Executive Vice Chairman and Managing Director, said, “Cyient Group witnessed soft Q1FY25 results, with Group quarterly revenue at USD 200.9 million, degrowth of 1.5% YoY in constant currency. Cyient’s Digital, Engineering and Technology (DET) business delivered revenue at USD 169.6 million, degrowth of 5.0% QoQ and degrowth of 3.6% YoY in constant currency. DET EBIT margin stood at 13.5%, declined by 260 bps YoY. We expect DET revenue growth for FY25 to be flattish YoY in constant currency terms due to the Q1FY25 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 USD 52.4 Mn 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.” During the quarter, the company was honored with the Premier Award for performance in 2023 and overall excellence in Cost Competitiveness, Collaboration & Customer Service from its customer RTX, for the third consecutive year. For the second year in a row, ISG recognized Cyient as a leader in Digital Engineering for Design and Development, Platform and Application Services, and Intelligent Operations for North America and EMEA. Result PDF