Dividend paying stock Cyient Ltd is one of the stocks that is expected to be in focus today. Tech major announces interim dividend of 10 per equity share to its shareholders in the financial year 2022-23. The board of directors of the company has fixed October 27, 2022 as the record date for payment of interim dividend. The declared interim dividend will be paid on ex-date basis, which means the stock will trade ex-dividend on 25 October 2022 as 26 October is the stock market holiday for Diwali Balipratiprada.
inform the Indian Share Market Regarding Interim Dividend Exchange, Cyient Ltd. said, “It is informed that the Board of Directors of the Company has declared an Interim Dividend of Rs.10/- per Equity Share (ie 200 per cent) at par of Rs.5 for the financial year. per share for 2022-23. Further, it is informed that 27 October 2022 has been fixed as the record date for the above purpose and dividend will be paid up to 9 November 2022.”
Cyient’s second quarter growth in the current fiscal was primarily driven by strong momentum in services and increased margins across various businesses. Tech major reports group revenue 1396.2 crore with QoQ growth of 11.7 per cent and YoY growth of 25.6 per cent. The tech MNC has posted Group CC revenue growth of 10 per cent QoQ and 20.4 per cent year-on-year. Its normalized group EBIT stands for 166.1 crore with a margin of 11.9 per cent. In Q2FY23 results, Cyient Ltd reported that its group order intake grew by 58.60 per cent year-on-year.
Commenting on the Q2 results, Krishna Bodanapu, Managing Director and CEO, Cyient said, “We are seeing strong momentum across the business driven by significant wins, strong order intake and pipeline. We are confident of delivering positive results. year, driven by growth in key accounts and a strong order pipeline. We continue to strengthen our technology offerings with a focus on building technology solutions across key megatrends impacting industries such as Automotive, Medical, Communications, Semiconductors, etc. .
During the quarter, Cyient closed the acquisitions announced at the beginning of the year, while strengthening its sustainable engineering capabilities. The impact of these acquisitions is expected to be more visible in the second half of the year.
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