Hyderabad, India, July 15, 2021: Cyient, a global engineering, manufacturing, and digital technology solutions company, today announced its financial results for the quarter ended June 30, 2021. During this period, the company continued to demonstrate its commitment toward strategic growth on the back of co-innovation, sustainable solutions and practices, and service excellence, despite the challenges posed by the second wave of the pandemic.
Financial highlights for the quarter:
Group revenue at $143.5 Mn (₹10,582 Mn), QoQ de-growth of 4.2% and YoY growth of 9.9 % in USD terms
Services revenue at $119.3 Mn, almost flat QoQ and YoY growth of 6.3 % in USD terms
Highest Group EBIT Margin of 13.1% in the last six years, QoQ increase of 48 bps and YoY increase of 797 bps
Q1 PAT at ₹1,150 Mn ($15.6 Mn), QoQ growth of 3.9% and YoY growth of 41.3%
Order Intake up 20% YoY
Highest offshore mix of 47.3% in the last five years
Krishna Bodanapu, Managing Director and CEO, Cyient, said, “This quarter has been challenging for many and I am grateful to all Cyientists for their resilience in tiding through the second wave. Our focus remains on being a trusted and innovative partner in our customers’ journey toward the next normal. Our strategic wins in communications, utilities, and transportation industries across engineering, geospatial, and digital technologies confirm that we are on the right path with our S3 strategy. We’re doubling down on our 30+ years of experience in delivering on innovative projects through CyientifIQ.”
Cyient announced its future-ready innovation platform, CyientfIQ, to create technology-led solutions that deliver disruptive value for its customers. To drive co-innovation with its partner ecosystem, Cyient has collaborated with leading minds in academia like IIT Hyderabad on 5G SoC design. The company has also developed industry solutions utilizing leading digital technologies.
Strategic customers across transportation and industrial segments have reinforced their trust in Cyient’s commitment to excellence for the last three decades. Cyient was also recognized across multiple categories for its commitment to service excellence and product innovation at the NASSCOM Engineering and Innovation Excellence Awards 2021.
Underscoring its commitment toward building a sustainable enterprise, Cyient announced a holistic sustainability framework aligned with the United Nations’ Sustainable Development Goals (SDGs) and pledges to be carbon and water neutral by 2025. It also recently launched its Design for Circularity practice to enable its customers to build more sustainable services, solutions, and products.
Cyient (Estd: 1991, NSE: CYIENT) is a leading global engineering, manufacturing and digital technology solutions company. We are a Design, Build, and Maintain partner for leading organizations worldwide. We enable our customers across industries to apply technologies imaginatively to solve problems that matter and stay ahead of the curve. We are committed to designing tomorrow together with our stakeholders and to being a culturally inclusive, socially responsible, and environmentally sustainable organization.