Cyient Limited · NSE:CYIENT
Cyient — Q4 FY22 Earnings Presentation
29 slides from Cyient's earnings presentation, 2022
Slide 1: Investor Presentation Q4 FY22 and FY22
INVESTOR PRESENTATION © CYIENT 2022 | Confidential Q4 FY22 and FY22
Slide 2: Confidentiality Statement
Confidentiality Statement The information shared herein is strictly confidential, proprietary and unique to the company. It is only made and shared for the purpose and extent it is intended for and no other. Usage or sharing of the said information in any form, directly or indirectly and in any mann
Slide 3: Leadership Team
Leadership Team KRISHNA BODANAPU AJAY AGGARWAL KARTHIK NATARAJAN Managing Director & CEO Executive Director & CFO Executive Director & COO © CYIENT 2022 | Confidential 3
Slide 4: Highlights, Financial Update, Business Update
Highlights Financial Update Business Update • Revenue • BU performance update • Financial Highlights • Business Highlights • Income statement update • Margin bridge • Cash generation © CYIENT 2022 | Confidential Annexures 4
Slide 5: Highlights, Financial Update, Business Update
Highlights Financial Update Business Update • Revenue • BU performance update • Financial Highlights • Business Highlights • Income statement update • Margin bridge • Cash generation © CYIENT 2022 | Confidential Annexures 5
Slide 6: Highlights for the Quarter
Highlights for the Quarter Financial Highlights for Quarter • Group revenue at $156.7 Mn; growth of 4.6% YoY and de-growth of 0.8% QoQ (0.4% in CC) 8.1% YoY / -0.2% QoQ (₹ terms) 4.6% YoY / -0.8% QoQ ($ terms) • Services revenue at $130.6 Mn; growth of 9.2% Revenue YoY and 1.1% QoQ (1.6% in CC) Quar
Slide 7: Highlights for the Year
Highlights for the Year Financial Highlights for Year • Group revenue at $608.2 Mn; growth of 9.2% YoY 9.7% YoY (₹ terms) (8.7% in CC) 9.2% YoY ($ terms) Revenue • Services revenue at $503.5 Mn; growth of 9.2% Yearly revenue at ₹45,344Mn/$608.2Mn YoY (8.5% in CC) • DLM revenue at $104.7 Mn; growth o
Slide 8: Highlights for the Quarter
Highlights for the Quarter MoU with IIT Hyderabad for Research Cyient Partners with iBASEt to Drive Launch of Firmware Over-The-Air Collaboration - Private 5G Center of Business Growth (FOT A) Solution for Connected Excellence Devices • Cyient has signed a Memorandum of • iBASEt’s industry-leading •
Slide 9: Highlights, Financial Update, Business Update
Highlights Financial Update Business Update • Revenue • BU performance update • Financial Highlights • Business Highlights • Income statement update • Margin bridge • Cash generation © CYIENT 2022 | Confidential Annexures 9
Slide 10: Revenue for Q4 FY22
Revenue for Q4 FY22 Revenue Q4 FY22 QoQ YoY Q3 FY22 Q2 FY22 Q1 FY22 Q4 FY21 Group $ Mn 156.7 -0.8% 4.6% 157.9 150.1 143.5 149.9 • Services growth at 9.2 % YoY CC growth -0.4% 6.4% • DLM de-growth at 13.8% YoY ₹ Mn 11,812 -0.2% 8.1% 11,834 11,116 10,582 10,932 • Group growth at 4.6% YoY Services $ Mn
Slide 11: Revenue for FY22
Revenue for FY22 Revenue FY22 YoY FY21 FY20 FY19 FY18 Group $ Mn 608.2 9.2% 556.8 625.3 660.0 607.4 • Services growth at 9.2% YoY CC growth 8.7% • DLM growth at 9.5% YoY ₹ Mn 45,344 9.7% 41,324 44,274 46,175 39,175 • Group growth at 9.2% YoY Services $ Mn 503.5 9.2% 461.3 550.7 580.2 545.7 CC growth
Slide 12: Income statement for Q4 FY22
Income statement for Q4 FY22 All Figures in ₹ Mn Q4 FY22 Q3 FY22 Q4 FY21 QoQ EBIT Movement Revenue 11,812 11,834 10,932 • Consolidated EBIT margin stood at 14.5%; up EBIT (Reported) 1,708 1,642 1,073 by 182 bps YoY and 59 bps QoQ EBIT (Normalised) 1,708 1,642 1,382 • Services EBIT margin at 15.4%; u
Slide 13: Income statement for FY22
Income statement for FY22 All Figures in ₹ Mn FY22 FY21 YoY EBIT Movement Revenue 45,344 41,324 • Consolidated EBIT margin stood at 13.9%; higher by 381 EBIT (Reported) 6,297 3,853 bps YoY EBIT (Normalised) 6,297 4,162 • Services EBIT margin at 15.3%; up by 432bps YoY (Please refer slide 14 for YoY
Slide 14: EBIT Margin Bridge for Q4 FY22 & FY22
EBIT Margin Bridge for Q4 FY22 & FY22 Particulars Particulars EBIT Q3 FY22 (Group) 13.9% Normalised EBIT FY21 (Group) 10.1% Add: DLM impact 176 bps Add: DLM impact 90 bps EBIT Q3 FY22 (Services) 15.6% Normalised EBIT FY21 (Services) 11.0% Tailwinds in Q4 FY22 Tailwinds in FY22 Change in revenue mix
Slide 15: Cash Generation for Q4 FY22 & FY22
Cash Generation for Q4 FY22 & FY22 All Figures in ₹ Mn Q4 FY22 Q3 FY22 Q4 FY21 FY22 FY21 Cash Generation Services • Cash and cash equivalents, including long- Profit before tax 1,884 1,692 1,204 6,547 4,558 term treasury investments, at healthy level (+/-) Non-cash & non-operating items 407 395 411
Slide 16: Highlights, Financial Update, Business Update
Highlights Financial Update Business Update • Revenue • BU performance update • Financial Highlights • Business Highlights • Income statement update • Margin bridge • Cash generation © CYIENT 2022 | Confidential Annexures 16
Slide 17: BU Performance Q4 FY22
BU Performance Q4 FY22 Business Units $ Mn Q4 FY22 QoQ YoY • Services growth stood at 1.1% QoQ and 1.6% in cc Transportation 47.1 -1.1% 1.5% o C&U witnessed sequential growth of 3.8% Aerospace 33.2 -0.5% 9.6% o Portfolio was relatively flat & marginal de-growth in Rail transportation 13.9 -2.4% -13.
Slide 18: BU Performance FY22
BU Performance FY22 Business Units $ Mn FY22 YoY • Services growth stood at 9.2% YoY and 8.5% in cc Transportation 189.3 1.1% o Robust growth in C&U and Portfolio of 12.6% and 17.5% Aerospace 129.4 3.2% respectively Rail transportation 59.9 -3.1% o Aerospace witnessed YoY growth of 3.2% C&U 179.8 12
Slide 19: Innovative Technology Solutions and Programs
Innovative Technology Solutions and Programs Industry Technology Solutions / Programs Accelerated Connected Product Development with enhanced security & FOTA capabilities: A Secured Firmware Over-The-Air (FOTA) Solution for Connected Devices Enhanced Fiber Planning (Virtual Walkout) solution: A sing
Slide 20: Business Performance & Outlook
BUSINESS PERFORMANCE & OUTLOOK © CYIENT 2021 | Confidential 20
Slide 21: Business Performance & Outlook (1/4)
Business Performance & Outlook (1/4) Transportation Transportation BU unit witnessed marginal de-growth on a sequential basis. The aerospace business stayed relatively flat whereas the rail transportation business witnessed a de-growth. The aerospace sector in general is showing a good recovery, whi
Slide 22: Business Performance & Outlook (2/4)
Business Performance & Outlook (2/4) Communications and Utilities Communications: Communications unit witnessed sequential growth in Q4 FY22, which was our best quarter ever. We won three major deals in Q4, one from a key client in Canada to accelerate their broadband network roll out. This deal is
Slide 23: Business Performance & Outlook (3/4)
Business Performance & Outlook (3/4) Portfolio of Services Medical Technology and Healthcare witnessed positive sequential growth in Q4 FY22. This continues to be driven by the demand for our digital engineering services for new medical device platform development, embedded hardware and software ser
Slide 24: Business Performance & Outlook (4/4)
Business Performance & Outlook (4/4) Portfolio of Services Energy, Industrial and Plant Engineering (EIP) sector provides end-to-end capabilities across the energy value chain for oil and gas, industrial portfolio, and plant engineering. Despite a marginal decline in this quarter, our outlook for FY
Slide 25: Outlook for FY23
Outlook for FY23 Revenue EBIT Margin Others • We will grow in the range • We expect the full year • In FY23 ETR is expected to of 13% – 15% in FY23 in margins to be in the range be around 27% constant currency for the of 13% to 14% Group • We have visibility for a high single digit growth in DLM due
Slide 26: About Cyient
About Cyient Cyient (Estd: 1991, NSE: CYIENT) is a global engineering and technology solutions company. As a Design, Build, and Maintain partner for leading organizations worldwide, Cyient takes solution ownership across the value chain to help customers focus on their core, innovate, and stay ahead
Slide 27: Disclaimer
Disclaimer All the references to Cyient’s financial results in this update pertain to the company’s consolidated operations comprising: Wholly-owned and step down subsidiaries: Cyient Europe Limited; Cyient Inc.; Cyient GmbH; Cyient Australia Pty Ltd; Cyient Singapore Private Limited; Cyient KK; Cyi
Slide 28: Connect With Us
#DesigningTomorrowTogether Connect cyient.com With Us Follow us on © CYIENT 2021 | Confidential
Slide 29: Summary of changes post SEBI
Summary of changes post earnings update Particulars Page reference no. Notes Financial Impact Vs Reported numbers Vs Investor Update to SEBI Group FCF of Q4FY22 and Full year FY22 and Cash Corrected inline with SEBI Page 7,8 and 15 FCF conversion had errors which are now No Impact generation update