Q1 2025 Cyient Ltd Earnings Call Transcript

Jul 25, 2024 / 11:30AM GMT

Release Date Price: ₹1894.2 (+0.45%)

Transcript

Key Points

Positve

Cyient Ltd (BOM:532175) has set up a wholly-owned subsidiary to focus on turnkey ASIC design and chip sales, indicating a strategic move towards innovation in the semiconductor sector.
The company has a strong order book with double-digit growth in order backlog, providing confidence for a robust recovery starting Q2.
Cyient Ltd (BOM:532175) has added new clients in the last couple of quarters, enhancing its customer base.
The company has over 600 intellectual properties, giving it a strategic edge in the market.
Cyient Ltd (BOM:532175) has made significant progress in Generative AI, winning 15-plus projects in the last quarter, covering various elements of product data management and customer support.

Negative

The company faced significant operational challenges in Q1 FY25, resulting in a deeper than expected performance decline.
Q1 FY25 dollar revenue for the DET segment saw a quarter-on-quarter degrowth of 5% and a year-on-year degrowth of 3.6% in constant currency.
The Q1 FY25 DET EBIT margin stood at 13.5%, down by 256 basis points quarter-on-quarter.
Group revenue for Q1 FY25 showed a degrowth of 0.6% year-on-year, with an EBITDA degrowth of 281 basis points year-on-year.
The group FCF for the quarter stood at minus INR 15 crores, primarily due to the cash consumption cycle in the DLM business.

Operator

Ladies and gentlemen, good day, and welcome to the Cyient Limited Q1 FY25 Results Conference Call. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Krishna Bodanapu, Executive Vice Chairman and Managing Director. Thank you, and over to you, sir.

Krishna Bodanapu

Cyient Ltd - Executive Vice Chairman, Managing Director

Thank you very much, and good evening, ladies and gentlemen, and welcome to Cyient Limited's Earnings Call for the first quarter of financial year 2025. I'm Krishna Bodanapu, Executive Vice Chairman and Managing Director of Cyient. Present with me on this call are Karthik Natarajan, CEO and Executive Director; and Prabhakar Atla, CFO and President.

Before we begin, I would like to mention that some of the statements made in today's discussions may be forward-looking in nature and may involve risks and uncertainties. A detailed statement in this regard is available at our investor update, which has been e-mailed to you and is also posted on our corporate website. This call

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