Cyient rose 1.19% to Rs 780 after the company announced a partnership with Honeywell to manufacture Honeywell Anthem, the first cloud-connected cockpit system.
The company said that it has inked a multi-year deal with Honeywell for this project.
The Honeywell Anthem flight deck will have unparalleled levels of connectivity, an exciting and intuitive interface modeled after everyday smart devices, and a highly scalable and customizable design. It will be driven by a versatile software platform that can be modified for virtually every type of aircraft, including passenger and cargo planes, business jets, helicopters, general aviation planes, and the fast-developing class of advanced airmobility (AAM) vehicles.
With design validation for electronics, the IT company will provide turnkey manufacture and testing of multiple line replaceable units (LRUs) that comprise the Honeywell Anthem avionics suite. With the help of Cyient's supply chain management technologies and industry 4.0 linked plants, Honeywell will obtain predictable delivery schedules and continuous quality improvement over the program's life. Cyient will also provide new product introduction manufacturing of initial builds and is currently ramping low-rate production orders to support demand in 2022.
Commenting on the partnership, Karthikeyan Natarajan, executive director and COO, Cyient, said, "We are delighted to collaborate with Honeywell to build Honeywell Anthem, which will transform the future of aviation. This is a testament to the value we create as strategic partners for our customers in the Aerospace and Defense sector with our cutting-edge design-led manufacturing (DLM) powered by technology. We look forward to leveraging our expertise to deliver efficiency, productivity, and innovation to Honeywell for years to come."
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Cyient said that it has over 20 years of aerospace engineering and manufacturing experience with over 3,000 aerospace engineers, having delivered over 42 million hours of engineering solutions to aerospace customers. Cyient's portfolio covers the product life cycle's, design, build, and maintenance phases to provide OEMs with a single source for optimizing aerospace parts manufacturing processes.
Cyient is a consulting-led, industry-centric, global technology solutions company. It currently operates through eight strategic business units: aerospace & defense; transportation; industrial, energy, and natural resources; semiconductor, internet of things and analytics; medical and healthcare; utilities & geospatial; communications and design-led manufacturing (Cyient DLM).
The company's consolidated net profit rose 17% to Rs 154.20 crore while revenue declined 0.19% to Rs 1,181.20 crore in Q4 FY22 over Q3 FY22.
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