Member Info for Inthetin

Looking at L&T's Electrical and Automation's website makes you wonder if it's still alive & kicking as a company. The latest piece of 'news' on its website is over 4 years old.

https://www.lntebg.in/media/

I like the idea of a bit of takeover 'action' though.

"I remain optimistic and look forward to giving further updates relating to NEW orders in due course." (Anil Daulani, CyanConnode India CEO and MD) - 10 weeks (and counting) ago.

Hi tonyj

Will you be disappointed if the only news we get in September is a report showing a £5.5m to £6m loss for the 15 months to 31/03/2020?

Hi tonyj

We pretty much know what JC has for us this month - it will be a loss of somewhere between £5.5m and £6m for the 15 months.

The BoD's investment is irrelevant. If it isn't, explain why the CFO only has £12K of shares in the company.

Hi CB

I think that your post is bang on.

I thought that the 430K order was the start of something positive, a real endorsement. I'm now wondering if JVVNL had got themselves into a contract that they couldn't get out of and just had to go with it.

I ignore the Thailand contract, as that is with our biggest shareholder and anything could be going on there.

B'desh was an opportunity but bigger players appear to have bagged that market.

It is clear that Cyan can't win new orders, despite the BoD attempting to assure shareholders that it can.

I'll wait for the 15m results are released or maybe until some other news that might materialise beforehand.

Hi CB

It is pretty clear that this team https://cyanconnode.com/about/team/ are going to really struggle (i.e. never) to make a viable business from this disaster. The only hope for shareholders is a buyout.

As the company has lost £60m+ over the years trying to develop something of use, my hope (and that's all it is) is that someone might agree to pay a bit more that £10m for it, lock, stock & barrel. (Current value £8m).

Hi Vas

I thought that the £45m related to the current pipeline of opportunities (previously $100m in the good old Berry days). Of the £45m, £7m have been converted into orders, due to be delivered over the next 100 years (providing annual revenue of £70K).

How a pipeline of opportunites totalling £45m equates to an asset value of £45m I am struggling to fathom.

Nothing for four years:-

https://www.lse.co.uk/rns/CYAN/new-strategic-partnership-agreement-with-enzen-c5ka5t86rgyrdof.html

Hi tonyj

Let's keep people's expectations realistic.

September will deliver the poor results for the 15 months to 31/03/2020 and that's about it.

Anything else provided will be hot air.

The 10/12/2019 RNS has already told us that the figures for the half-year to 30/09/2020 are due to be published by 31/12/2020.

The only figures that will be published in September will be the accounts for the 15 months to 31/03/2020.

No doubt JC will say that all staff have been 'busy' since 01/04/2020 but whether or not that effort has coverted into £££££'s is anyone's guess and we won't find out until a lot later in the year.

You would think that 40,000+ hours of work between April and August might result in some revenue but this is Cyan.

I couldn't quite follow. Was it an order or a backlog or a cancelled backlog that he was rambling on about?

Hi Vas

We'll probably find that this isn't quite the sort of project that Cyan wants to go for.

Hi tonyj

They have to get through landing the disastrous accounts for the 15 months ended 31/03/2020 first.

If revenue generation has improved since 01/04/2020, we won't have any proof of that until December 2020, regardless of what JC might claim in September.

I don't see how this 'deep relationship' with Landis & Gyr works in practice?

Can't wait to see a positive example of it in action. Could be quite a wait.

Who will L&G and Tech Mahindra (companies that supposedly has 'deep relationships' with) be using to cover the bit that Cyan could do on this 850,000 > 2m B'desh contract?

Why wouldn't L&G and TM use the same outfit/tech next time?

Seems to me that L&G and Tech Mahindra have pulled rank and told Cyan to go and fart ar*e around with water meters and street lighting and see if you make a few quid there instead.

As recently as 30/06/2020, JC said that Cyan has:-

"Deep relationships with international prime contractors, OEMs and influencers including Tech Mahindra, Schneider, Larsen & Toubro, Genus, Landis + Gyr and ARM, which enhances reach and scalability."

If L&G and Tech Mahindra have scooped this 850,000 (scalable up to 2 million) smart meter contract in B'desh and Cyan aren't involved at all, what does that say about JC's 'deep relationships'?

Hi tonyj

I doubt that we are doing anything with Tech Mahindra.

One of my major concerns is that this collaborative approach being taken by JC is helping everyone except Cyan shareholders. Are Cyan just giving away any knowledge/expertise that they might have to their 'partners'.

In the recent Investor magazine presentation, JC mentioned a L&G Bangladesh contract (delayed or something like) and another contract that Cyan hadn't tried for. He seemed to be suggesting that they were competing for some water metering and street lighting in B'desh plus other stuff.

They might win something on day - miracles can happen.