Communications

Communications BU witnessed a growth of 7.9% QoQ and 5.8% YoY and has now become our largest vertical. The performance was driven by growth in key accounts. We continue to benefit from rollout of broadband networks globally to support virtual collaboration (WFH) trends combined with accelerated rollout of 5G networks, which is now about 11% of our revenue portfolio. We were also selected as a preferred vendor by our key client in NAM for rollout of their 5G network. The outlook for H2 FY21 remains positive, supported by the favourable industry trends of technology led network transformation and accelerated deployment of broadband and wireless infrastructure.

Transportation

Transportation BU witnessed a growth of 21.3% QoQ and de-growth of 10.2% YoY. Growth in Q2 was driven by recovery in key accounts and ramp up of new engagements initiated in 2020. We see early signs of recovery from the pandemic with production facilities reopening. Accelerated adoption of global engineering models is leading to significant ramp ups in new engagements. The outlook for H2 FY21 remains positive supported by expectation of a steady recovery in the Rail transportation industry.

E&U

Energy and Utilities BU has witnessed a growth of 0.1% QoQ and de-growth of 31.4% YoY due to project deferrals in the utilities business and decline in demand for the manufacturing business. We expect traction in the Energy segment driven by our recent acquisition of IG partners in Mining. We believe that the powerful synergy of Cyient's digital execution capabilities and IGP's advisory expertise creates a unique value proposition for the industry.

Medtech and Healthcare

The Medical and Healthcare business unit has grown by 49.4% in QoQ and 68.4 % YoY. We witnessed a strong performance from DLM side of this business. We added one of the top 3 Med-Tech companies as our client. We continue to look for new business opportunities from new and existing customers across the business lines (Product Design, Lifecycle Management and DLM)

Portfolio

Portfolio BU witnessed a growth of 5.4% QoQ and de-growth of 22.3% YoY. Cyient has joined an exclusive list of companies that have attained Esri Gold Partner status globally. This will enable Cyient to develop and implement a wide range of next-generation geospatial services, tools, and solutions across multiple industries, including telecommunications, energy & utilities, mining, transportation, defense, the public sector, and manufacturing in collaboration with Esri. The outlook remains positive as we see opportunities related to new revenue streams in existing customers. We are also seeing more opportunities to proactively bid on horizontal solutions that leverage Portfolio BU capabilities into other verticals and BU's.

SIA (Semiconductor, Semiconductor, IoT and Analytics)

Semiconductor BU witnessed de-growth of 2.3% QoQ and 12.0% YoY. De-growth was primarily driven by decline in one of the top clients. We expect the softness in this vertical to continue in H2FY21.

DLM (Design Led manufacturing)

Design Led manufacturing BU witnessed a growth of 13.3% QoQ and de-growth of 12.3% YoY driven by growth across Segments. Our strong focus on inventory reduction through the quarter resulted in increased cash flow for the business. We expect strong growth through Q3FY21 driven by key clients in Aerospace & Defense and Medical segment. We will continue to focus on better inventory management and operational excellence to improve our cash position. We continue to focus on leveraging the Additive Manufacturing lines in India and USA to attract new customers.

About Cyient

Cyient (Estd: 1991, NSE: CYIENT) is a global engineering and technology solutions company.  As a Design, Build, and Maintain partner for leading organizations worldwide, Cyient takes solution ownership across the value chain to help customers focus on their core, innovate, and stay ahead of the curve. The company leverages digital technologies, advanced analytics capabilities, domain knowledge, and technical expertise to solve complex business problems.

Cyient partners with customers to operate as part of their extended team in ways that best suit their organization's culture and requirements. Cyient's industry focus includes aerospace and defense, healthcare, telecommunications, rail transportation, semiconductor, geospatial, industrial, and energy.

For more information, please visit www.cyient.com.

Follow news about the company at @Cyient.

Media Relations
Perfect Relations
Vishal Thapa
Mobile: +91 9701834446
Email: vthapa@perfectrelations.com

Disclaimer

This document contains certain forward-looking statements on our future prospects. Although Cyient believes that expectations contained in these statements are reasonable, their nature involves a number of risks and uncertainties that may lead to different results. These forward-looking statements represent only the current expectations and beliefs, and the company provides no assurance that such expectations will prove correct.

All the references to Cyient's financial results in this update pertain to the company's consolidated operations comprising wholly-owned and Step-down subsidiaries Cyient Europe Limited; Cyient Inc.; Cyient GmbH; Cyient Australia Pty Ltd; Cyient Singapore Private Limited; Cyient KK; Cyient Israel India Limited; Cyient Insights Private Limited; Cyient Canada Inc.; Cyient Defense Services Inc.; Certon Software Inc.; Certon Instruments Inc.; B&F Design Inc.; New Technology Precision Machining Co. Inc.; Cyient Insights LLC; Cyient Benelux BV; Cyient Schweiz GmbH; Cyient SRO; AnSem NV; AnSem B.V.; Cyient AB; partly owned subsidiaries Cyient Solutions and Systems Private Limited; Cyient DLM Private Limited; joint venture Infotech HAL Ltd (HAL JV) & associate company Infotech Aerospace Services Inc. (IASI) until 8th December 2017.

The income statement and cash flow provided is in the internal MIS format. MIS format is different from the income statement published as part of the financial results, which is as per the statutory requirement.

View original content to download multimedia: http://www.prnewswire.com/news-releases/cyient-reports-pat-at-inr-839-mn-for-the-second-quarter-fy-21-growth-of-3-qoq-301153579.html

SOURCE Cyient