INVESTOR

PRESENTATION

ANNEXURE

Q3 FY25

Message from the Management

KRISHNA BODANAPU

Executive Vice-Chairman &

Managing Director

Commenting on the results, Mr. Krishna Bodanapu, Executive Vice Chairman and Managing Director, said

"Cyient Group witnessed positive Q3 FY25 results, with quarterly Group revenue at US$ 228 Mn, growth of 4.5% YoY in constant currency.

Cyient's Digital, Engineering and Technology (DET) business delivered revenue at US$ 175.2 Mn, a growth of 2.4% QoQ and degrowth of 1.9% YoY in constant currency. This was driven by growth in Aerospace, Connectivity and New Growth Areas. The EBIT margin for DET stood at 13.5%, a contraction of 72 bps QoQ, largely led by wage increases and currency headwinds. Our order book has witnessed a strong uptick. Order Intake for Q3 at $312.3 Mn, is the highest ever for Cyient DET, with a QoQ growth of close to 100% and YoY growth of 5%. We have also won 13 large deals in DET business with a total contract potential of $234.5 Mn in Q3 FY25. Our pipeline for the year has improved with large deals contributing significantly to a strong pipeline, positioning us for sustainable growth in the medium term.

Our Semiconductor business continues to witness good traction. We have expanded our partnership with Allegro Microsystems and established a Center of Excellence (CoE) in our Manikonda campus to develop next generation magnetic sensors and power semiconductor products for the automotive industry. The CoE will play a crucial role in accelerating the development of power integrated circuit (IC) product portfolios, which are essential components in electric vehicles, advanced driver-assistance systems (ADAS) and other automotive applications. This development strengthens Cyient's position as a leading partner for companies seeking to develop and manufacture cutting-edge semiconductor products. Further, I am delighted to announce that we have secured approval from our Board of Directors to explore additional capital raise options for our recently announced Semiconductor subsidiary. This is in line with our strategy for Semiconductor business towards capital readiness and to drive accelerated growth in the near-medium term."

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© CYIENT 2025 | Confidential

Message from the Management

PRABHAKAR ATLA

President & CFO

Commenting on the results, Mr. Prabhakar Atla, President and Chief Financial Officer, said, "Q3 FY25

DET revenues stood at US$ 175.2 Mn representing a growth of 2.4% QoQ in constant currency terms. This was driven by growth and continued recovery, in line with our expectations, across our key Business Units. The EBIT margin for the quarter is 13.5%, down by 72 bps over Q2 FY25, primarily on account of wage hikes and currency headwinds. The PAT for Q3 FY25 is ₹124 Crores, a de-growth of 30% QoQ led by significant negative movement in other income especially from unrealized forex losses - arising due to major currency movements during the quarter. The FCF stood at ₹245 Crores, an increase of 39% QoQ, translating into 198% FCF to PAT conversion for the quarter. The ₹245 Crores remains our best quarter to date in terms of FCF performance.

Our focused initiatives on operational performance improvement, cash collection, cost optimization and automation will continue, and we expect the full benefits of improved operational efficiency to be visible in the coming quarters."

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© CYIENT 2025 | Confidential

DET METRICS

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Income Statement | DET

DET

UOM

Q3 FY25

Q2 FY25

Q3 FY24

Operating Revenue

$ Mn

175.2

173.0

179.2

Operating Revenue

₹ Mn

14,799

14,496

14,914

Cost of Revenue

₹ Mn

9,042

8,744

8,954

Gross profit

₹ Mn

5,757

5,752

5,961

Gross margin %

38.9%

39.7%

40.0%

Sales and Marketing expenses

₹ Mn

820

695

621

General and Administration expenses

₹ Mn

2,375

2,415

2,358

EBITDA (Normalised)

₹ Mn

2,563

2,643

2,982

EBITDA margin %

17.3%

18.2%

20.0%

Depreciation and Amortization expenses

₹ Mn

567

584

596

EBIT (Normalised)

₹ Mn

1,995

2,059

2,385

EBIT margin %

13.5%

14.2%

16.0%

Financial expenses

₹ Mn

120

183

233

Other income

₹ Mn

-218

465

94

Profit before tax (PBT) (Normalised)

₹ Mn

1,657

2,341

2,247

Tax

₹ Mn

419

574

519

Profit After Tax (Normalised)

₹ Mn

1,239

1,768

1,728

PAT margin %

8.4%

12.2%

11.6%

Basic EPS (₹) (Normalised)

11.25

16.07

15.74

One off/ Exceptional item (Post tax)

₹ Mn

0

0

-386

Profit After Tax (Reported)

₹ Mn

1,239

1,768

1,342

Basic EPS (₹) (Reported)

11.25

16.07

12.22

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Other Income | DET

Other Income (₹ Mn)

DET

Q3 FY25

Q2 FY25

Q3 FY24

Income from Investments

170

114

64

Realised gains/(losses) on Fwd Contracts

1

-1

-9

Unrealised Fx gains/(losses)

-504

336

165

Others

116

17

-125

Total

-218

465

94

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© CYIENT 2025 | Confidential

Cash Generation | DET

Cash Flow Summary (₹ Mn)

DET

Q3 FY25

Q2 FY25

Q3 FY24

Profit before tax (Reported)

1,657

2,342

1,744

Non-cash & non-operating items

507

716

911

Operating profit before WC changes

2,164

3,058

2,655

DSO Movement (Receivables)

156

70

-59

Other WC changes

659

-614

377

Operating CF after WC changes

2,979

2,514

2,973

Taxes

-352

-617

-911

Capex

-177

-130

-138

FCF

2,450

1,767

1,924

FCF to reported PAT conversion

197.8%

100.0%

143.4%

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© CYIENT 2025 | Confidential

Cash Position for the Quarter | DET

Cash Position (₹ Mn)

DET

Q3 FY25

Q2 FY25

Q3 FY24

Cash & Cash Equivalent including treasury investments

11,423

11,871

8,171

Cash & Bank balances

2,348

2,841

4,948

Investments in FDs

6,337

6,390

506

Investment in MFs and Commercial Papers

602

441

647

Other treasury investments

2,136

2,199

2,070

Notes:

1. Q2 FY25 cash position includes pending FY25 interim dividend disbursal of ₹1,331 Mn. This was disbursed in Oct'24

Net Cash (₹ Mn)

DET

Q3 FY25

Q2 FY25

Q3 FY24

Cash & Cash Equivalent including treasury investments

11,423

11,871

8,171

Total Debt

-440

-743

-6,167

Long term borrowings

0

0

3,920

Short term borrowings

440

743

2,247

Net cash

10,983

11,128

2,004

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© CYIENT 2025 | Confidential

Other Metrics | DET (1/2)

Revenue by Geography (%)

DET

Q3 FY25

Q2 FY25

Q3 FY24

Americas

49.5%

48.3%

43.9%

Europe, Middle East, Africa

28.8%

30.1%

35.0%

Asia Pacific (including India)

21.7%

21.6%

21.1%

Revenue by Currency (%)

DET

Q3 FY25

Q2 FY25

Q3 FY24

USD

46.7%

46.0%

44.0%

EURO

15.9%

15.4%

20.7%

GBP

5.8%

6.3%

7.9%

AUD

10.2%

11.3%

11.3%

Others

21.4%

21.0%

16.0%

Revenue by Top Clients (%)

DET

Q3 FY25

Q2 FY25

Q3 FY24

Top 5

30.1%

31.4%

29.8%

Top 10

41.7%

43.0%

39.8%

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© CYIENT 2025 | Confidential

Other Metrics | DET (2/2)

Employees

DET

Q3 FY25

Q2 FY25

Q3 FY24

Total Headcount

14,378

14,799

15,678

Technical & Pool

13,227

13,661

14,519

Non-Technical

476

472

505

Support

675

666

654

Voluntary Attrition (LTM)

15.5%

15.0%

18.4%

No. of Million $ Clients

DET

Q3 FY25

Q2 FY25

Q3 FY24

20 Mn+

4

4

6

10 Mn+

15

15

13

5 Mn+

30

29

36

1 Mn+

110

107

111

New Clients Added

10

11

3

Note: No. of Million $ clients are based on TTM (Trailing Twelve Months) revenue

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© CYIENT 2025 | Confidential

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Disclaimer

Cyient Limited published this content on January 23, 2025, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on January 23, 2025 at 11:14:04.985.