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Cyient announces robust Q2 FY22 Performance led by Growth Pillars Including Digital

Posted On: 2021-10-14 18:02:06 (Time Zone: IST)

Cyient, a global engineering, manufacturing, and digital technology solutions company, announced its financial results for the quarter ended September 30, 2021. The company celebrated 30 years of Technology Excellence during this period and accomplished a strong pipeline indicative of accelerated growth in strategic areas, including Digital, Embedded Software, Geospatial, Consulting, Semiconductor, and Network Transformation.

Financial highlights for the quarter:

  • Group revenue at ₹1111.6 crores with YoY growth at 10.8%
  • Group EBIT margin of 14% leading our highest ever operating profit
  • Q2 PAT at ₹121.3 crores, YoY growth of 44.7%
  • Order intake grew 23% YoY
  • Offshoring at ~50%, highest in the last ten quarters

Krishna Bodanapu, Managing Director and CEO, Cyient, said, "Our performance this quarter has been very encouraging. Our strategic wins and recognitions by analysts and customers across industries and technologies reaffirm that Cyient continues to be a trusted and innovative partner of choice. The new global logos, the contribution of large deals, and the strong pipeline in place indicate that our growth pillars are delivering impact and will help accelerated growth in coming quarters."

Cyient was recognized as a Rising Star in Connected Mobility Consulting and Services in the ISG Provider Lens™ Internet of Things - Services and Solutions Quadrant Study (U.S. 2021.) Cyient has also been recognized by Amazon Web Services as a SelectTier Consulting Partner in the AWS Partner Network (APN).

Cyient enhanced its additive manufacturing capabilities with our first metal additive manufacturing facility in Jupiter, Florida, following international support from SLM Solutions. Cyient also strengthened its IntelliCyient Suite of Digital solutions with the acquisition of WorkForce Delta to further its offerings in field services transformation.

The company has also expanded its digital solution portfolio for the aerospace industry with our global AS9145 Supplier PPAP4Aero platform offerings.

Cyient has also joined forces with leading industry forums like TM Forum to accelerate the technology-led transformation of networks.

Re-iterating its continuous commitment to foster an inclusive workplace culture and empowering associates, Cyient announced a 12-week gender-neutral parental leave policy across its offices globally for both birth and adoptive parents. Celebrating 30 Years of Excellence, the company also reinforced its commitment to its fundamentals of ValuesFIRST, where FIRST stands for Fairness, Integrity, Respect, Sincerity, and Transparency.

Shares of Cyient Limited was last trading in BSE at Rs. 1158.00 as compared to the previous close of Rs. 1079.55. The total number of shares traded during the day was 64942 in over 5459 trades.

The stock hit an intraday high of Rs. 1172.35 and intraday low of 1103.30. The net turnover during the day was Rs. 73657223.00.

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