Cyient gets thumbs up

Cyient is among the top five gainers on the BSE since the opening bell today morning. The stock rose almost 9% to hit an intrday high at Rs.904

The market has given its earnings a big thumbs up. The company recorded a 17% (QoQ) growth in net profit at Rs.154 crore though revenue came down marginally from 1183 crore to Rs.1181 crore.

Its EBIT was up 4% at Rs.169.5 crore while margins rose from 13.79% to 14.35%.

Cash and cash equivalents, including long term treasury investments stood at Rs.1568 crore. In Q4, the free cash flow conversion stood at 51.1%for group and 45.9%for Services. DLM has generated a cash of Rs28 crore in Q4.

The company gave a revenue guidance of 13% – 15% in FY23 in constant currency for the group and expects the full year margins to be in the range of 13% to 14%.