Cyient shares slump 19% post leadership shifts and Q3 results
The shares of Cyient Limited were trading at ₹1,421.45 down by ₹333.80 or 19.02 per cent on the NSE today at 10.15 am.
Cyient Limited announced its third-quarter financial results for fiscal year 2025, highlighting significant leadership changes and continued growth in its semiconductor business. The company reported a quarterly group revenue of $228 million, representing a 4.5 per cent year-on-year growth in constant currency.
The Digital, Engineering and Technology (DET) segment delivered revenue of $175.2 million, with a modest 2.4 per cent quarter-on-quarter growth. Notably, the company’s order intake reached $312.3 million in Q3, marking the highest-ever figure for Cyient DET and showing a nearly 100 per cent quarter-on-quarter increase. The company secured 13 large deals with a total contract potential of $234.5 million.
A key development is the unexpected departure of Karthikeyan Natarajan as Executive Director and CEO, with Krishna Bodanapu taking interim charge of operations. The company also strengthened its board by inducting Debjani Ghosh, a Distinguished Fellow at NITI Aayog, as an Independent Director.
The semiconductor division continues to show promise, with the company expanding its partnership with Allegro Microsystems and establishing a Center of Excellence at its Manikonda campus. The board has approved exploring additional capital raise options for the semiconductor subsidiary, signaling confidence in the business’s growth potential.
Despite challenges including wage increases and currency headwinds, Cyient remains optimistic about its future, particularly in semiconductor engineering, having been recognised as a Star Performer by Everest Group in their 2024 assessment.
