Business Overview:
- Q1 FY24 experienced well-balanced performance which was line with expectations
- Growth is aided by aerospace, automotive, energy & utility segments. Also growth is supported by healthcare & life sciences during second half of FY24
- Q1 FY24 experienced well-balanced performance which was line with expectations
- Growth is aided by aerospace, automotive, energy & utility segments. Also growth is supported by healthcare & life sciences during second half of FY24
Financial Performance:
- DET revenue grew by 0.3% on QoQ basis & 30.6% on YoY basis
- DET margins stood at 6% which is highest in last 9 year, driven by improvement in SG&A cost
- Core segment of automotive & sustainability continue to witness a very strong growth on QoQ & YoY
- DET revenue grew by 0.3% on QoQ basis & 30.6% on YoY basis
- DET margins stood at 6% which is highest in last 9 year, driven by improvement in SG&A cost
- Core segment of automotive & sustainability continue to witness a very strong growth on QoQ & YoY
- Co. has free cash flow 176 cr
- Group revenue of quarter grew by 28.6% YoY
- Co. won 6 large deals that amount to $49 million
- Group revenue of quarter grew by 28.6% YoY
- Co. won 6 large deals that amount to $49 million
- Cyient DET
- It is most of what traditionally engineering services has transformed recently with adoption of digital transformation & now this has rapidly evolved in adopt of advanced technology such as generative AI
- Co. is strong rapidly evolving player in this space
- It is most of what traditionally engineering services has transformed recently with adoption of digital transformation & now this has rapidly evolved in adopt of advanced technology such as generative AI
- Co. is strong rapidly evolving player in this space
- It also includes earth-ware businesses & engineering part business
- Apart from evolution of segment nomenclature from services to DET, addition here is reclassification of engineering part business based on business & client efficiency
- Apart from evolution of segment nomenclature from services to DET, addition here is reclassification of engineering part business based on business & client efficiency
- Reclassification does not have major impact on Cyient DET, engineering part business now merged to DET as a revenue of 0.9 million dollars per quarter i.e 0.5% of DET revenue
Transportation:
- It grew by 3.2% QoQ & 19% YoY
- Connectivity is impacted by wire line telecom operators business which has slightly sunk compared to Q4 FY23
Sustainability:
- Enabled by growth in energy & mining had solid quarter of 4.5% growth QoQ
- It grew by 3.2% QoQ & 19% YoY
- Connectivity is impacted by wire line telecom operators business which has slightly sunk compared to Q4 FY23
Sustainability:
- Enabled by growth in energy & mining had solid quarter of 4.5% growth QoQ
New Growth Areas:
- They have started to de grow at -6.5% which is attributed to hi-tech
- While co. continue to see good momentum in automotive
- There is some softness in semiconductor business
- While, healthcare & license business are flat compared to last quarter
- They have started to de grow at -6.5% which is attributed to hi-tech
- While co. continue to see good momentum in automotive
- There is some softness in semiconductor business
- While, healthcare & license business are flat compared to last quarter
Outlook:
- Co. continue investment in green transportation, energy transition, & security digital health & automotive as well as decarbonisation & saw growth in aerospace
- There is good momentum in advanced air mobility solutions so it could give acceleration in next 3 year
- Co. continue investment in green transportation, energy transition, & security digital health & automotive as well as decarbonisation & saw growth in aerospace
- There is good momentum in advanced air mobility solutions so it could give acceleration in next 3 year
- Wireless business has stronger footing with funding coming from US government on Argos
- Hydrogen & Pneumonia based green energy & carbon capture utilisation are investment areas
- Hydrogen & Pneumonia based green energy & carbon capture utilisation are investment areas
Success Stories:
- Co. won a large project on semi-autonomous drive collision & obstacles avoidance system for construction equipment from Europe
- Also won some projects on Adaβs feature development & integration with EV truck & software different vehicles are core embedded
- Co. won a large project on semi-autonomous drive collision & obstacles avoidance system for construction equipment from Europe
- Also won some projects on Adaβs feature development & integration with EV truck & software different vehicles are core embedded
- Network analytic & automation led by cloud enabled & driven by analytic & zero touch provision has given some of results & new wins, strong pipeline in this area
- Co. made progress in AI power software testing & industrial data fabric with AWS as key partnership
- Co. made progress in AI power software testing & industrial data fabric with AWS as key partnership
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