• BSE
  • NSE
    • {{d.cmpname}}
    • {{d.price}}
    • ({{d.PerChg}}%)
Equity | News | Hot Pursuit
Hot Pursuit
Cyient rallies after Q2 PAT rises 3% QoQ
(10:59, 16 Oct 2020)

The PAT increased mainly from higher operating income driven by higher volume and efficiency. Consolidated profit before tax (PBT) stood at Rs 109 crore in Q2FY21, gaining 0.46% from Rs 108.60 crore in Q1FY21. Total tax expense dropped 7.72% to Rs 25.10 crore in Q2FY21 over Q1FY21. The Q2 result was announced after market hours yesterday, 15 October 2020.

Services revenue stood at $114.10 million, registering a growth of 1.7% QoQ and a drop of 18.7% year-on-year (YoY). DLM revenue was at $20.90 million, recording a growth of 13.3% QoQ and a 12.3% fall YoY. Order intake in Q2FY21 is at $127.3 million, increased by 9% QoQ.

In Q2, the cash flow conversion stood at 131.4% for group and 132.2% for Services. DLM has consumed cash of Rs 1.8 crore in Q2FY21. Cash and cash equivalents stood at a healthy level of Rs 1350.90 crore.

Consolidated EBIT margin stood at 11%, up by 586 bps QoQ. EBIT margin for services was at 12.2%, up 542 bps QoQ. EBIT margin for DLM at 4.7%, compared to -4.6% in Q1FY21.

Commenting on the Q2 results, Krishna Bodanapu, the managing director (MD) and chief executive officer (CEO), said that: Q2 FY21 results are in line with our expectations. We recorded a revenue of $135 million which was higher by 1.3% QoQ and lower by 16.3% YoY in constant currency. Growth in Services business across Transportation, Communications and Portfolio BUs was offset by Aerospace & Defense BU decline. The DLM business grew by 13.3% QoQ. The EBIT margin is higher by 586 bps QoQ. We generated Free Cash Flow of $27.3 million in Q2FY21.

This quarter we focused on setting up the business back on a growth path. We continued our rigor on efficiency improvement and building pipeline for the business. We won key projects which sets us up for a better H2. We are focused on building a strong pipeline with large opportunities and rigor on account mining across key clients. This quarter we also restructured the organization to realign ourselves to the market opportunities and focus on growth in key industries. The new structure will enable us to function in a more agile and efficient manner.

Our outlook for H2 is positive and we expect growth based on the outlook and pipeline across most sectors. We will see a decline in the aerospace business due to seasonality challenges and lower number of workdays. For the year we expect a double digit decline in revenue and margins will be similar to FY20 margins, he signed off.

Cyient is a global engineering and technology solutions company.

Powered by Capital Market - Live News

DB (International) Stock Brokers Limited: SEBI Reg. No.-INZ000179035 / CDSL : IN-DP-CDSL-266-2004 MCX-SX:INE 260643233/21500(CD)
Daga Commodities Private Limited: SEBI Reg. No. INZ000028833
Investor Grievances Email ID: compliance@dbonline.in & investors@dbonline.in
Copyright © 2016 All rights Reserved DB (International) Stock Brokers Ltd.     Designed, Developed and content powered by C-MOTS Infotech( ISO 9001:2015 certified )
"KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."         "Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from CDSL on the same day......................issued in the interest of investors."          "No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
Attention Investors ::
subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries