Cyient Reports Strong Q4 and Annual Results for FY22 Led by Large Deals and Digital Innovation Capabilities

Hyderabad: Cyient, a leading global Technology Solutions company, announced its financial results for the fourth quarter that ended on March 31, 2022, and annual results for FY22.

Financial Highlights for Q4 FY22

·         Group revenue at INR 1,181.2 crores, with the Services Revenue at INR 983.5 crores, a growth of 1.7% QoQ

·         Highest ever Group EBIT of INR 170.8 crores, with a margin of 14.5%

·         Highest Net Profit in 12 quarters at INR 154.2 crores, with a YoY growth of  39.3%

·         Highest Ever Offshoring at 51.6%

Financial Highlights for FY22

·         Group Revenue is INR 4,534.4 crores, a growth of 9.7% YoY

·         Highest Ever Group EBIT at INR 629.7 crores, grew by 51.3% YoY

·         Group Order Intake for FY 22 stood at INR 5,454.3 crores, with YoY growth of 8%

·         Highest ever Net Profit at INR 522.4 crores, with YoY growth of 40.6%

·         Highest ever Utilisation at 85.2%, with a YoY increase of 590bps

Commenting on the results, Krishna Bodanapu, Managing Director and CEO, Cyient, said, “We closed FY22 with robust profitability, revenue, and order intake growth. Large deals of over INR 2,300 crores (US$ 300 million) and a 50% increase in digital order intake YoY have contributed to this growth, and most of the financial metrics have been the highest in the history of the organization. This demonstrates our customers continued confidence in us to be their strategic partner for their transformation journey. As their preferred partner, we will continue to invest in technology solutions that accelerate innovation, to imaginatively solve problems that matter.”

In FY22, Cyient was recognized by ISG, Everest, and Zinnov for its performance as a futuristic technology solutions provider and has been ranked for its IoT, 5G, and Digital Services. The Everest Group also named Cyient one of the Top 15 Engineering Services Providers for 2022.