Cyient --CNBC Interview --Earning Highlights --Krishna Bodanapu --14th Oct22 :
–Based on the industry verticals we operate in whether its Energy transition or Semi-conductor transition from China to US --we are confident of achieving $1Bn revenues by FY24.
– Revenue run rate of $175Mn per Qtr, Citec revenues ( acquired in Finland , revenues run rate of $83/84Mn ) is not part of it and once thats included the run-rate will increase for us to $200Mn , so we need to go from $200Mn to $250Mn run-rate to achieve that $1Bn Revenue tgt by 2nd half of FY24.
–Deal business in services has fallen -its seasonal & if you look at constant currency comparison with last year , its a good growth
– Rail transort segment has 8% fall , it constitutes 7% to overall revenue and its a tough segment. We have bottomed out in this now.
–Aerospace Biz ( we are known for it ) has shown double digit growth in constant currency YnY.
–Even communications is doing well.
–Attrition --26.5% , it has come off 3% from last Qtr and we are seeing a down-ward trend of attrition., we are tgting below 20% around 18% towards the end of this year.
–Aerospace Vertical – The turn-up has started to happen & we are seeing growth in MRO piece of the segment.New design starts have yet to start but we are well positioned there.
–Design led Mfring --15% of revenues , the board has appointed sub-committee to divest it but we dont want to be fully out of it as we are seeing some good traction in both Engineering & design & winning some very good deals. We are looking at potential IPO or a strategic partner to participate in that business. Won the Honeywell deal in this.
– We dont anticipate large big acquisitions apart from the 150Mn we already have baked into the tgt of reaching $1Bn by FY24.
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