I will say average result but still decent enough, considering the times we are in.
Did anyone attend the call today evening ?
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View from AXIS, post the results
Cyient - Q2FY21 - Result Update - 16102020_16-10-2020_17.pdf (549.2 KB)
Disc - hv a modest holding
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Analyst reports on Q3FY21 results
http://content.icicidirect.com/mailimages/IDirect_Cyient_CoUpdate_Jan21.pdf
Annual Report Summary - 2021
https://drive.google.com/file/d/1rX0zs_3HYNqCabW-hpbpVtKyGhA9xe7k/view?usp=sharing
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Can anyone elaborate about constantly acquisition of equity from open market by companies stock option trust ‘CYIENT ASSOCIATE STOCK OPTION SCHEME’
- Why they are purchase from open market and what are the purpose
- Short and Long term effect of such transactions
Disc. - Invested
ESOP which is Purchased from open market. I think this is best option since, it will not dilute equity and also reward people in the organisation.They started it1-2 quarters back after shareholders approval.
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Commenting on the launch, Krishna Bodanapu, Managing Director and CEO, Cyient, said, “Our move towards consulting as an offering is an important step towards executing our S3strategy roadmap. We have been engaged with clients across industries in solving their engineering problems. The Cyient Consulting practice will allow us to leverage our engineering domain expertise to solve business-critical problems for our clients. I am confident that we can add immense value with the consulting practice that will engage clients transcending functions and businesses.”
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Cyient launches a Firmware Over-The-Air (FOT A) Solution for
Connected Devices
While this solution’s benefits will have a bearing on almost every sector, the
automotive industry will see a considerable impact, with more than 250 million vehicles
set to have some OTA capabilities by 2025. It is estimated that the total OEM cost savings
from OTA updates to be$18.5 billion in 2020 and reach $60.9 billion by 2025. At that point,
more than 250 million vehicles will have some type of OT A capabilities.
With the increasing use of connected and intelligent devices, devices must be updated for
new features and technology changes. The CyientflO™ FOTA solution addresses
firmware update scenarios such as Device to Cloud OTA server, Gateway to Cloud OTA
server, and Device To Gateway To Cloud OTA server. The end-to-end FOTA update
requires the coordination of complex elements right from device, gateway, and device
administration to the cloud OTA server. Cyient will provide a seamless upgrade process
that eliminates all risk factors in these steps.
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can any expert provide additional views like, competitive scenario, benefit to OEM and it’s impact on revenue & PAT of Cyient & OEM’s etc?
Decent result given current valuations in environment of Margin pressure and high employee costs which is nature of the sector.
Largest ever deal win in q1
$424.3mn
Guides for full year margin at 13-14%
Topline growth 13-15% in cc terms
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Cyient --CNBC Interview --Earning Highlights --Krishna Bodanapu --14th Oct22 :
–Based on the industry verticals we operate in whether its Energy transition or Semi-conductor transition from China to US --we are confident of achieving $1Bn revenues by FY24.
– Revenue run rate of $175Mn per Qtr, Citec revenues ( acquired in Finland , revenues run rate of $83/84Mn ) is not part of it and once thats included the run-rate will increase for us to $200Mn , so we need to go from $200Mn to $250Mn run-rate to achieve that $1Bn Revenue tgt by 2nd half of FY24.
–Deal business in services has fallen -its seasonal & if you look at constant currency comparison with last year , its a good growth
– Rail transort segment has 8% fall , it constitutes 7% to overall revenue and its a tough segment. We have bottomed out in this now.
–Aerospace Biz ( we are known for it ) has shown double digit growth in constant currency YnY.
–Even communications is doing well.
–Attrition --26.5% , it has come off 3% from last Qtr and we are seeing a down-ward trend of attrition., we are tgting below 20% around 18% towards the end of this year.
–Aerospace Vertical – The turn-up has started to happen & we are seeing growth in MRO piece of the segment.New design starts have yet to start but we are well positioned there.
–Design led Mfring --15% of revenues , the board has appointed sub-committee to divest it but we dont want to be fully out of it as we are seeing some good traction in both Engineering & design & winning some very good deals. We are looking at potential IPO or a strategic partner to participate in that business. Won the Honeywell deal in this.
– We dont anticipate large big acquisitions apart from the 150Mn we already have baked into the tgt of reaching $1Bn by FY24.
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CYIENT Q3 Result Update:
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Gross Margins of 37.8%.
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Voluntary Attrition of 26.5%.
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Acquisitions made by the company are accretive at the EBITDA level.
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Effective Tax Rate at 24.1%.
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FCF Generation for the quarter stood at 124.7 cr. which is 40.9% of EBITDA & 76.6% of Net Profit.
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Services Segment: Segment is doing very well. Organic & Inorganic Growth from this segment has been 4% & 8% respectively. EBIT Margin was 13.9%. Improvement in margins was due to better operational metrics and volume impact.
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Filed IPO for Design Lead Manufacturing unit.
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Aerospace Rail Communications Unit: Very nominal Growth in this segment. Aerospace unit, Rail Unit is expected to have double digit growth in the coming quarters. In communication unit, growth is expected in network transformation, modernization in areas like fiber roll out, wireless & 5G.
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Mining Energy Utilities: Opportunities seen in Automation, Robotics Solutions and Global efforts to decarbonize and energy transition efforts.
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Semiconductor Segment will see improvement in next 2-3 quarters.
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Hitech Segment: Growth will be led by Geo AI and system integration capabilities.
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Healthcare Segment: Continuous investments opportunities in proactive and personalized patient care, connected devices and digital platforms.
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During the quarter, they recorded an order intake of $237.1 million, a growth of 83.4% QoQ and 18.2% YoY, respectively.
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Future Commentary by Management: The management guided for higher revenue growth momentum to continue in Q4 FY23 led by organic growth in aerospace, mining, communications and automotives segments. The EBITDA margin for FY23 is expected to be in the range of 16%-17%. Deal Pipeline is quite huge as they have 5 large deal wins in the services segment. Guiding that Q3 will be better than Q4. Q4 normalized EPS will be Rs.15-16. Confident of getting mid-size average growth within the next year. FY24 planning to achieve $1BN annual revenue with an EPS of at least Rs. 60.
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Concall Summary
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Cyient Q4 2023 Earnings release
Cyient_compressed.pdf (282.5 KB)
Earnings are better that expected. There could be chance of margin expansion in the coming quarters
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Cyient-q2-fy24.pdf (1.8 MB)
Q2 FY24 Estimate and Results
Earnings Estimate 15.96 and Result 16.11 - over achieved 0.93%
Revenue Estimate 16762 and Result 17785 - over achieved 6.10%
Revenue and Earnings little better that expected but margins has reduce from 19% to 18%. QtoQ.
This is further to our disclosures made on 2 May 2023 and 21 April 2022.
In relation to the associated civil class action antitrust lawsuit filed by plaintiffs in a U.S District Court, we wish to inform you that Cyient Limited’s US Subsidiary, Cyient Inc. has entered into an agreement dated20 January 2024 to settle, and dismiss with prejudice, the said civil class action antitrust lawsuit for an amount of US$7.4 million. Cyient Inc. will utilize the insurance amounts available to it towards payment of the aforesaid settlement amount.
The settlement is without admission of any liability and the plaintiffs have agreed to release and discharge all claims associated with this lawsuit against Cyient Inc. and its affiliates. The settlement is subject to approval by the presiding judge and the timing of this process is at the discretion of the court.
May I request the expert tracking this business can throw some light on the above please
Certainly, Vivek Ji, thank you for your response.
I haven’t had the chance to listen to the conference call due to tracking multiple businesses.
Other team members might be occupied as well.
Could you please provide the timestamp for the answer to my question regarding the lawsuit?