Engineering solutions company Cyient has appointed Sukamal Banerjee as Executive Director and Chief Executive Officer (CEO) of its Digital, Engineering, and Technology (DET) business for a five-year term, starting February 19, 2025. Banerjee will also join the board of directors of Cyient Ltd., the company announced in a regulatory filing on Wednesday.
“We wish to inform you that, based on the recommendation of the Leadership, Nomination and Remuneration Committee, the Board of Directors of the Company have, at their meeting held today, appointed Mr Sukamal Banerjee as Executive Director and Chief Executive Officer of the Company for 5 years with effect from 19 February 2025. The said appointment will be subject to the approval of the shareholders and Central Government, as applicable,” the company stated.
Banerjee is a seasoned professional with extensive experience in the engineering sector. According to Cyient, he brings strong leadership in driving technological transformation and building global capabilities across various geographies. He holds a Bachelor’s degree in Mechanical Engineering and an MBA in Finance & Strategy.
The appointment comes shortly after Cyient released its financial results for the October-December quarter of FY25, reporting a 31.7% decline in profit. The company posted a net profit of ₹122.3 crore, down from ₹179 crore in the preceding quarter.
Revenue from operations stood at ₹1,926.4 crore, with the company citing slower growth in its largest segment and rising costs as key challenges.
On February 20, 2025, Cyient share price traded 0.58% higher at ₹1,483.35 at 9:56 AM (IST). Cyient’s share price reached a 52-week high of ₹2,189.00, and a 52-week low of ₹1,294.75. As per BSE, the total traded volume for the stock stood at 0.21 lakh shares with a turnover of ₹3.14 crore.
At the current price, Cyient shares are trading at a price-to-earnings (P/E) ratio of 14.63x, based on its trailing 12-month earnings per share (EPS) of ₹100.92, and a price-to-book (P/B) ratio of 4.46, according to exchange data.
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Published on: Feb 20, 2025, 9:57 AM IST
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