Exposure to aerospace biz key challenge; attrition a cause of concern: Cyient
Cyient, a digital technology solutions company, reported earnings for the September-ended quarter on Monday. Revenue and margins came in slightly ahead of estimates, while FY22 revenue guidance has been maintained at double-digit and margin guidance increased by 250-300 basis points.
Krishna Bodanapu, MD & CEO of Cyient, on Monday, said the key challenge for the company is exposure to aerospace business.
Cyient, a digital technology solutions company, reported earnings for the September-ended quarter on Monday. Revenue and margins came in slightly ahead of estimates, while FY22 revenue guidance has been maintained at double-digit and margin guidance increased by 250-300 basis points.
“The key challenge for us still remains our focus on the aerospace business. Aerospace, which used to be about a third of our business, has not recovered the way some of the other industries have. Our growth, ex-aerospace, we would be definitely in the top quartile of the industry."
"However, we have seen green shoots in aerospace; without aerospace, we are in the top quartile but once the aerospace recovery happens, hopefully towards the end of this fiscal or early next year, we believe we will be back to some strong growth numbers,” Bodanapu said.
On attrition, he said, “It is something we are quite concerned about and something that we are focused on. We have taken a lot of actions during the earlier part of the year and those will come to show up nicely. We have seen that attrition has come down towards the end of Q2 and in Q3.”
For the entire management interview, watch the video
(Edited by : Bivekananda Biswas)
First Published: Oct 18, 2021 2:34 PM IST
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