Cyient Q2 Results FY2023, Revenue up by 25.6%

Cyient Q2 Results FY2023

by Shreya Anaokar Last Updated: Dec 16, 2022 - 12:03 pm 13.1k Views

On 13th October 2022, Cyient announced its quarterly results for the second quarter of FY2023.

Q2FY23 Performance updates:

- The revenue stood at Rs. 1396.2 crores with QoQ growth of 11.7% and YoY growth of 25.6% 
- The constant currency revenue growth was reported at 10.0% QoQ and 20.4% YoY  
- EBIT stood at Rs. 166.1 crores with a margin of 11.9% 
- The PAT was reported at Rs. 110.3 crores, with a drop of 5.0% QoQ 
- The Group Order Intake grew by 58.6% YoY 

Geographical Highlights:

- The American market reported a revenue mix of 50.4% in Q2FY23.
-The European, Middle East and African market reported a revenue mix at 26%
- The Asian Pacific markets posted a revenue mix at 23.6%

Across Verticals:

- The revenue mix from the Aerospace vertical stood at 27.3%
- For the Rail transport vertical, the revenue mix was reported at 6.5%
- Communications vertical revenue mix stood at 23.3% 
- Mining revenue mix was at 2.3% in Q2FY23
- Energy segment revenue mix for Q2FY23 was at 6.3%
- The Utilities segment revenue mix stood at 4.8%
- Consulting vertical revenue mix stood at 1.1% for Q2FY23.

Other Highlights:

- During the quarter, Cyient closed the acquisitions we announced at the start of the year, strengthening its sustainable engineering capabilities. The impact of these acquisitions is expected to be more visible in the year's second half.
- Preparing for future growth, Cyient recently launched a commissioned research report with the Everest Group titled "Mirror into the Megatrends: Technology-Driven Disruptions that will Define the Decade.” The megatrends are global, technology-driven disruptions that will shape investments, opportunities, and lifestyles over the next decade. 

Commenting on the results, Krishna Bodanapu, Managing Director and CEO, Cyient, said, " We continue to witness strong momentum across the business, driven by key wins, robust Order Intake, and pipeline. We are confident about delivering positive results through the year, driven by growth in key accounts and a strong order pipeline. We continue strengthening our technology offerings, focusing on building technology solutions across key megatrends impacting industries like Automotive, Medical, Communications, Semiconductors, etc. With E R&D spending estimated to exceed US$ 1.7 Trillion by 2025, organizations worldwide are already leveraging their assets to prepare for the future. The research report we released highlights the Megatrends that will see definitive technology disruption by 2030. This is part of Cyient's push to ensure that our customers receive the best in technology innovation to ensure that their businesses are sustainable and futureproof."

On Friday, the share price of Cyient Ltd dropped by 0.85%
 

Share Market Today


How do you rate this article?

or

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Shreya Anaokar is a Content Writer at 5paisa. She has completed her Master’s in Finance and Graduation in Statistics from the University of Mumbai. 

Disclaimer

Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.
Open Free Demat Account
Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.

Latest News
Stocks in News Today

Our analysts at 5paisa scan through the financial markets and select the few trending stocks which were in the news and in the limelight for the day. Here is the list of a few trending stocks with their latest News and Updates.

  • Sep 27, 2023
Plada Infotech Services IPO GMP (Grey Market Premium)

Plada Infotech Services Ltd is a fixed Price IPO, priced at ₹48 per share and is entirely a fresh issue offering. The ₹12.36 crore IPO of Plada Infotech Services Ltd comprises entirely of a fresh issue with no offer for sale (OFS) component.

  • Sep 27, 2023
Sharp Chucks And Machines IPO GMP (Grey Market Premium)

The IPO of Sharp Chucks And Machines Ltd comprises of a fresh issue and an offer for sale, being a fixed priced IPO priced at ₹58 per share.

  • Sep 27, 2023