Cyient hits a new high

Cyient hit a new high today at Rs.709.60, up 9.5%, with volumes surging over 5.5 times.

The company announced very good set of numbers for Q4FY18. Cyient’s revenue rose 8% (QoQ) at Rs.1062 crore while sequential dollar revenue was also up 8% at Rs.$165 million.

EBITDA was up 4% (QoQ) at Rs.149 crore but margins showed a decline of 50 bps to 14.1%.

The company’s net profit came in at Rs.121 crore, up 12%.

The management expects its services business to show a double digit growth in Fy19 while legacy Design Led Manufacturing (DLM) could grow by 20% and overall DLM by a healthy 35% including B&F.