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IT Consulting & Software company Cyient announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

• Cyient Revenue at Rs 1,489 crore, with QoQ de-growth of 0.1% and YoY growth of 2.8%
• Cyient CC Revenue de-growth at 0.5% QoQ and growth of 1.8% YoY
• Cyient EBIT of Rs 239 crore, with a margin of 16%
• Cyient PAT at Rs 173 crore, with YoY growth of 9.1%
• Cyient Order Intake grew by 7.1% YoY  

FY24 Financial Highlights:

• Cyient Revenue is Rs 5,911 crore, a growth of 16% YoY
• Cyient CC Revenue Growth at 12.6% YoY
• Cyient normalized EBIT at Rs 955 crore, a growth of 36.8% YoY
• Cyient normalized PAT at Rs 689 crore, with YoY growth of 31.6%
• Total dividend for FY24 at Rs 30 per share 

Commenting on the results, Krishna Bodanapu, Executive Vice Chairman and Managing Director, Cyient, said, “This year has been a very exciting and a momentous one for the Cyient Group in terms of delivering a balanced performance around growth and profitability, executing key initiatives such as DLM divestiture and margin expansion, and building a balanced portfolio of offerings to drive sustainable future growth.

For the year FY24, Cyient Group delivered USD 863 Million in revenue at a YoY growth of 15.6% in cc, EBIT of 14.5% with 173 bps expansion YoY, PAT of Rs 735 Crore at YoY growth of 30%, and FCF of Rs 648 Crore at YoY growth of 32.6%.

Cyient’s Digital, Engineering and Technology (DET) delivered USD 179.3 Million at an EBIT of 16% for Q4 FY24. We closed 9 large deals with a total contract potential of ca. USD 200 Million this quarter, taking our order intake for the quarter to USD 228 Million.

For FY24, Cyient DET delivered USD 713.9 Million at 12.6% YoY revenue growth in cc, 16.1% EBIT with 246 bps expansion YoY. PAT for the year was Rs 689 Crore, up 31.6% YoY while FCF for the year was Rs 754 Crore, a significant growth of 71.4% YoY. The full year Order Intake of USD 902 Million translates to 15% growth YoY with contributions from our key large units such as Sustainability, Transport and Connectivity.

For FY25, our order book looks strong, and we will continue to focus and invest on strengthening our intelligent engineering and technology solutions across key industries and megatrends.

We are also confident that our presence in key industry verticals through our balanced portfolio will help us deliver balanced outcomes in the evolving market and geo-political uncertainties.”

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