Cyient (532175) Q4 00/01 earnings summary

Executive summary

• FY 2000-01 revenue rose 70.27% to Rs 6,020.29 lakh and PAT increased 66.91% to Rs 1,722.99 lakh, supported by export-led growth and expansion in Europe.

• Diversification reduced North America’s share of revenue to 75% from 88%; e-Solutions’ share increased to 12% from 6% in the segment breakdown.

Financial highlights

• Total income was Rs 6,020.29 lakh versus Rs 3,535.63 lakh; operating profit (PBIDT) was Rs 2,291.40 lakh versus Rs 1,363.61 lakh.

• PBT increased 66.40% to Rs 1,752.99 lakh; PAT rose 66.91% to Rs 1,722.99 lakh, and EPS increased 55.96% to Rs 28.15.

• Exports reached Rs 5,510.85 lakh, up 67%; overseas sales included Rs 69.53 lakh of exchange fluctuation.

• Depreciation rose 130.38% to Rs 517.48 lakh; financial charges fell to Rs 20.93 lakh from Rs 85.48 lakh.

Outlook and guidance

• Management expected to exceed NASSCOM’s 40–45% industry growth estimate for FY 2001-02, building on organic growth and acquisitions.

• Focus areas included scaling successful markets, entering high-growth geographies, expanding global brand equity and raising associate productivity through technology investment.

• Europe expected further GIS and e-Solutions growth; engineering prospects centered on US and German automotive and aerospace markets, while e-Solutions targeted new practices and Asia-Pacific demand.