Cyient, a global engineering and technology solutions company, today reported its consolidated financial results for the fourth quarter (Q4) of FY 2020 ending March 31, 2020.
Financial Highlights:
For FY2020
· Group revenue at $625.2 Mn (₹44,274 Mn); de-growth of 5.3% (4.0% in CC terms) and degrowth 4.1% YoY (₹ terms)
· Services revenue at $ 550.7 Mn; de-growth of 5.1% (3.7% in CC terms)
· DLM revenue at $74.6 Mn; de-growth of 6.6%
· Normalized EBIT excluding one-offs at ₹4,084 Mn; de-growth of 23.4%
· Normalized EBIT margins excluding one-offs at 9.2%; lower by 232 bps
o Normalized EBIT margin for services excluding one-offs at 10.5%, lower by 228bps
· Free Cash flow at ₹4,102Mn (highest ever)
· Free Cash Flow conversion at 56.9%
· Normalized PAT at ₹3,727 Mn; de-growth of 23.9%
· Total dividend for the year stood at Rs 15/- per share
For Q4 FY20
· Consolidated revenue at $149.2 Mn; degrowth of 3.8% QoQ and de-growth of 9.7% YoY
· Services revenue at $132.3 Mn; de-growth of 5.6% QoQ (5.4% in CC) and de-growth 10.0% YoY
· DLM revenue at $17 Mn; growth of 12.4% QoQ; de-growth of 7.1% YoY
· Cash flow to EBITDA conversion at 74.0%
· Normalized EBIT excluding one-offs at ₹905 Mn
o Normalized EBIT margin excluding one-offs 8.4%; lower by 118 bps QoQ
o Normalized EBIT margin for services excluding one-offs at 9.6%, lower by 100 bps QoQ
Business Highlights
· Signed an agreement with Hitachi Rail to deliver a series of project engineering services to support and accelerate the evolution of its signaling technology and enhance its project executioncapacityinApril2020
· Mysore facility to support manufacturing of COVID-19 diagnosis units and X-ray system assemblies
· Providing Telangana State Police with drone-based surveillance technology to help implement the COVID-19 related lockdown in Hyderabad
· Contributed ₹ 20 Mn to the Telangana Chief Minister’s Relief Fund to support the government’s efforts in fighting the Covid-19 pandemic in April 2020
