|Stock Name : Cyient Limited/Tips Open||Buy : 601||Posted Date : Jan 30, 2021|
|Stopless/Horizon : 570||Target : 691|
Overview: Cyient limited is a global engineering and technology solutions company, it is a Mid Cap company with a market capitalization of Rs 6328.29 Crore.
About the company: Cyient Limited (formerly Infotech Enterprises Limited) was originally incorporated as a private limited company in August 1991 by Mr. B V R Mohan Reddy. The company was reconstituted as a public limited company in April 1995. In 1997, Cyientbecame a public limited company with an IPO of equity shares at Rs. 20 per share; listed in all major stock exchanges in India.
The company engages with clients helping to design, build, operate, and maintain the products and services that make them leaders and respected brands in their industries and markets.
Cyientacquired SRG Infotech in 1997, thus expanding their portfolio to offer software services in Oracle and Visual Basic client/server environments.
In the same year, Cyientpartnered with IBM to develop an enterprise-wide information system.
In 1999, Cyient acquired Europe based GIS software solution company Dataview Solutions for $1.80 million. Issued Infotech equity shares worth $1.8 million. Later, the same year, it acquired Cartographic Sciences India, from Analytical Surveys Inc., USA.
Cyient has operations across the globe, they deliver their services and solutions to a diversified base of over 300 customers, including 29 Fortune 500 companies, across multiple industries. During fiscal 2020, the company derived around 56% of its revenue from the Americas, 26% from Europe, the Middle East, and Africa, and around 18% from Asia Pacific (including India).
Management: BVR Mohan Reddy is the Executive Chairman and KrishnaBodanapu is the Managing Director & CEO.
• Promoter: 23.5%
• MF: 20.4%
• FII: 35.7%
• Other Institutions: 2.3%
• Public: 18.1%
Dividend: Cyient has declared an equity dividend of 300.00% amounting to Rs 15 per share for the year ending March 2020.
Sales Report: For the quarter ended 31-12-2020, Net profit of Cyient declined 11.91% to Rs 95.40 crore as against Rs 108.30 crore during the previous quarter ended December 2019.
The company reported a Consolidated sale of Rs 1044.30 Crore, which is up 4.09 % from last quarter Sales of Rs 1003.30 Crore, but down -5.57 % from previous year corresponding period’s sales of Rs 1105.90 Crore.
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