Cyient Limited has announced its financial results for the quarter ending December 31, 2024 (Q3 FY25).
Q3 FY25 Financial Highlights
The company’s Digital, Engineering, and Technology (DET) segment reported revenue of ₹1,480 crores, reflecting a 2.1% sequential growth and a marginal 0.8% year-on-year degrowth.
In constant currency terms, DET revenue grew by 2.4% quarter-on-quarter but saw a 1.9% decline compared to the same period last year. Despite these mixed results, Cyient remains focused on strengthening its market position and driving innovation.
The company’s EBIT stood at ₹200 crores and the EBIT margin was 13.5%. Profit after tax (PAT) for the DET segment was ₹124 crores, representing a year-on-year decline of 28.3%.
However, the company achieved a notable 5% year-on-year increase in order intake, reaching an all-time high of $312.3 million.
Management Commentary
The Executive Vice Chairman and Managing Director, Krishna Bodanapu, stated, “Our Semiconductor business continues to witness excellent traction. We have expanded our partnership with Allegro Microsystems and established a Center of Excellence (CoE) at our Manikonda campus to develop next-generation magnetic sensors and power semiconductor products for the automotive industry. The CoE will be crucial in accelerating the development of power integrated circuit (IC) product portfolios, essential components in electric vehicles, advanced driver-assistance systems (ADAS), and other automotive applications. This development strengthens Cyient’s position as a leading partner for companies seeking to develop and manufacture cutting-edge semiconductor products.”
He further added, “Cyient’s Digital, Engineering and Technology (DET) business delivered revenue at US$ 175.2 Mn, a growth of 2.4% QoQ and degrowth of 1.9% YoY in constant currency. This was driven by growth in Aerospace, Connectivity, and New Growth Areas. The EBIT margin for DET stood at 13.5%, a contraction of 72 bps QoQ, largely led by wage increases and currency headwinds.”
“Our order book has witnessed a strong uptick. Order Intake for Q3, at $312.3 Mn, is the highest ever for Cyient DET, with a QoQ growth of close to 100% and YoY growth of 5%. We have also won 13 large deals in DET business with a total contract potential of $234.5 Mn in Q3 FY25. Our pipeline for the year has improved, with large deals contributing significantly to a strong pipeline, positioning us for sustainable growth in the medium term,” stated the Executive Vice Chairman and Managing Director.
The company also announced a leadership transition, as Karthikeyan Natarajan stepped down as Executive Director and CEO. Krishna Bodanapu, the Executive Vice Chairman and Managing Director, has taken interim charge of the business.
Cyient Share Price Performance
On January 24, 2025, Cyient share price opened at ₹1,621.10, down from its previous close of ₹1,755.25. At 9:49 AM, the share price of Cyient was trading at ₹1,432.00, down by 18.42% on the NSE. Notably, the stock price touched its 52-week low at ₹1,411.60 today.
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