Cyient Limited’s shares plummeted by 19.02 per cent to ₹1,421.45 on the NSE at 10.15 am today.
In its latest financial report for the third quarter of fiscal year 2025, Cyient Limited highlighted key leadership changes and the sustained growth of its semiconductor business. The company recorded a quarterly group revenue of $228 million, showcasing a 4.5 per cent year-on-year growth in constant currency terms.
The Digital, Engineering and Technology (DET) segment of the company generated revenue of $175.2 million, with a modest 2.4 per cent quarter-on-quarter growth. A significant milestone was achieved with the order intake reaching $312.3 million in Q3, a nearly 100 per cent increase from the previous quarter. Cyient DET secured 13 large deals with a combined contract potential of $234.5 million.
The unexpected departure of Karthikeyan Natarajan as Executive Director and CEO led to Krishna Bodanapu taking over as the interim leader. Additionally, Debjani Ghosh, a Distinguished Fellow at NITI Aayog, joined the board as an Independent Director, enhancing its governance.
The semiconductor division continued to show promise as Cyient expanded its collaboration with Allegro Microsystems and established a Center of Excellence at its Manikonda campus. The board authorized exploring additional capital raising avenues for the semiconductor subsidiary, underscoring confidence in its growth prospects.
Despite challenges such as wage hikes and currency fluctuations, Cyient remains positive about its future, especially in semiconductor engineering, after being recognized as a Star Performer by Everest Group in their 2024 assessment.
