Latest news with #SumanNarayan
Time of India
25-04-2025
- Business
- Time of India
Cyient shares fall over 9% after Q4 profit declines, core business underperforms
Cyient's shares plummeted by 9.5% after the company reported a 6% drop in its Q4FY25 profit after tax, which settled at Rs 163.10 crore. Revenue also saw a slight dip to Rs 1,909.2 crore. The company's full-year profit fell by 15.4%. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Core business pressures Shares of Cyient Ltd fell as much as 9.5% on Friday to Rs 1,125.4 on the BSE after the technology firm reported a 6% year-over-year decline in its profit after tax for the quarter ended March 2025. Cyient posted a profit after tax of Rs 163.10 crore for Q4FY25, down from Rs 173.50 crore in the same period a year ago. Revenue for the March quarter fell 0.9% sequentially to Rs 1,909.2 company's board declared a final dividend of Rs 14 per share for FY24- 25. Additionally, the company said its Leadership, Nomination and Remuneration Committee had granted 27,000 restricted stock units and 200,000 stock options to associates under its Associate Restricted Stock Units Scheme 2020 and Associate Stock Option Plan earnings were announced on Thursday, April 24, after market hours. The company's shares had closed slightly lower by 0.26% at Rs 1,243.05 on April 24, before tumbling on the full fiscal year FY25, Cyient reported revenue of $870 million, reflecting a 1.5% year-on-year growth in constant currency. However, profit after tax for the year fell 15.4% to Rs 622 crore. EBIT margin came in at 12%, down 258 basis points from the previous design, engineering and technology (DET) services segment, a key business unit, reported revenue of $688 million for the year, a 3% decline in constant currency terms. EBIT margin for the DET business fell 261 basis points to 13.5%.Also read | Cyient shares in focus after launch of semiconductor subsidiary to tap global chip market Order intake in the DET segment stood at $836 million, down about 7% year-on-year. The company said this decline was 'partly attributed to evolving uncertainties during FY25 relative to the previous fiscal year.' The business secured 24 large deals during the year with a total contract value of $370.8 part of its strategic growth initiatives, Cyient recently launched a semiconductor subsidiary and appointed Suman Narayan as its CEO. 'Suman is a globally recognised professional in the semiconductor industry,' said Krishna Bodanapu, Executive Vice Chairman and Managing Director.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Yahoo
10-04-2025
- Business
- Yahoo
Cyient launches semiconductor subsidiary
Indian engineering and technology services company Cyient has established a wholly owned subsidiary, Cyient Semiconductors. The subsidiary has been launched with an investment of approximately Rs8.62bn ($100m), The Times of India reported. In conjunction with the launch, Cyient appointed Suman Narayan as the CEO of the newly formed entity. The semiconductor business will focus on scaling application-specific integrated circuit (ASIC) turnkey solutions for its customers. Narayan said: 'India is on the cusp of a semiconductor revolution, and Cyient is well-positioned to be at the forefront of this transformation. 'With our deep domain expertise, we will continue to empower global and domestic clients with high-value solutions. We firmly believe that the new semiconductor subsidiary will drive next-generation innovations meeting the requirements of our customers.' Cyient said: 'This strategic move strengthens the company's commitment to innovation and excellence across the global semiconductor landscape.' Driven by strategic organic and inorganic growth, the new subsidiary has already built teams across several regions, including India, the US, Germany, Belgium, the Netherlands, and Taiwan. Cyient executive vice-chairman and managing director Krishna Bodanapu said: 'Our vision is to align Cyient's semiconductor capabilities with the national agenda set by the Ministry of Electronics and Information Technology, aiming to build a robust semiconductor ecosystem in India. 'With the growing demand for high-performance semiconductor solutions, Cyient Semiconductors will play a crucial role in providing end-to-end ASIC turnkey and IC design services, supporting India's journey toward self-reliance in the semiconductor ecosystem.' Cyient Semiconductors aims to operate in the fabless semiconductor space, capitalising on the growing demand for specialised semiconductor expertise, the company added. The company noted that the global semiconductor market, which is currently valued at around $600bn, is projected to reach $2trn by 2032. "Cyient launches semiconductor subsidiary" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
