Buy Cyient DLM; target of Rs 851: LKP Research

LKP Research is bullish on Cyient DLM has recommended buy rating on the stock with a target price of Rs 851 in its research report dated July 24, 2024.

Broker Research

October 23, 2024 / 08:55 IST

buy

26 Aug, 2025 12:21

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LKP Research's research report on Cyient DLM

Cyient DLM’s results for the quarter met expectations in terms of revenues, while margins and profitability were better than estimates. The order pipeline remains robust, with several large deals in advanced stages expected to materialize in the second half of FY24, consistent with earlier guidance from management. Although the year-on-year growth in the order book has been slow and has declined, there is optimism for improvement in the coming quarters as order inflows strengthen. During the quarter, Cyient DLM welcomed four new global clients in the semiconductor, defense, and Med-Tech sectors, which bodes well for long-term visibility and growth prospects. We maintain a positive outlook on Cyient DLM due to its strong parent company support, established client relationships complemented by new additions, a resilient order book, healthy order inflows, a robust pipeline, and specialized capabilities in high-growth areas.

Outlook

The stock has seen a correction from its peak levels and presents compelling value prospects at reasonable valuations. Our estimates remain unchanged, and we reiterate a Buy rating on the stock with an unchanged price target of ₹851.

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