3 Bonus, 1:2 Split, 38 Dividends: Rs 1,915 Midcap IT Stock To Pay 360% Dividend After Q4 Profit Rises

Cyient, a global intelligent engineering and technology solutions company, reported PAT of Rs 173 crore, up by 9.1% YoY, while revenue came in at Rs 1,489 crore in Q4FY24, registering a QoQ de-growth of 0.1% and YoY growth of 2.8%. The company has also declared a dividend.

In Q4, the company's constant currency revenue came in at a de-growth at 0.5% QoQ and growth of 1.8% YoY. EBIT was at Rs 239 crore, with a margin of 16%.

For FY24 performance, key highlights are:

- Revenue is at Rsa 5,911 crores, a growth of 16% YoY.

- CC revenue growth was at 12.6% YoY.

- Normalized EBIT at Rs 955 crores, a growth of 36.8% YoY.

- Normalized PAY is at Rs 689 crores, with YoY growth of 31.6%.

- Total dividend payout stood at Rs 30 per share for FY24.

On the financial performance, Krishna Bodanapu, Executive Vice Chairman and Managing Director, of Cyient, said, "This year has been a very exciting and a momentous one for the Cyient. The group in terms of delivering a balanced performance around growth and profitability, executing key initiatives such as DLM divestiture and margin expansion, and building a balanced portfolio of offerings to drive sustainable future growth."

For FY24, Cyient Group delivered US$ 863 Million in revenue at a YoY growth of 15.6% in cc, EBIT of 14.5% with 173 bps expansion YoY, PAT of Rs 735 Crore at YoY growth of 30%, and FCF of Rs 648 Crore at YoY growth of 32.6%.

Also, Cyient's Digital, Engineering and Technology (DET) delivered US$ 179.3 Million at an EBIT of 16% for Q4 FY24. The MD informed that Cyient closed 9 large deals with a total contract potential of ca. US$ 200 Million this quarter, taking its order intake for the quarter to US$ 228 Million.

Further, Cyient has declared a final dividend of Rs 18 per share aka 360% on a face value of Rs 5 each for FY24.

Since August 2000, Cyient has delivered a whopping 38 dividends, as per Trendlyne data. While its dividend yield is at 1.46%.

Not just that, Cyient has turned ex-split once in August 2006 in the ratio of 1:2. The face value of Rs 10 was split into Rs 5 per share.

Meanwhile, Cyient has a long history of rewarding bonus shares to investors. The last bonus issue was of 1:1 in June 2010, while earlier Cyient gave 1:2 bonuses in August 2006 and 1:1 issuance in August 2002.

On BSE, Cyient's share price has ended at Rs 1915 apiece, up by 1.21% with a market cap of Rs 21,235.40 crore.

For FY25, MD added, "Our order book looks strong, and we will continue to focus and invest in strengthening our intelligent engineering and technology solutions across key industries and megatrends."

Karthikeyan Natarajan, Executive Director and CEO of Cyient said, "In light of the current macroeconomic conditions, our company has performed admirably well. The growth was led by aerospace, sustainability and automotive sectors and we see communications and
semiconductor business bouncing back to growth in FY 25. This quarter has seen a deepened engagement in our collaborations with Airbus and Deutsche Aircraft, where we will be working on the development of Airbus' cabin 'Intelligent Core Management Platform' and the detailed design for manufacturing of the rear fuselage section for the 40-seater D328eco
regional turboprop aircraft for Deutsche Aircraft. Our pipeline for the year appears strong. I am grateful to all our associates for their efforts in making this another strong fiscal year and to all our stakeholders for their continued trust in us."

Cyient partners with over 300 customers, including 40% of the top 100 global innovators, to deliver Intelligent Engineering and Technology Solutions for creating a
digital, autonomous, and sustainable future.