Buy Cyient; target of Rs 1310: Motilal Oswal

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26 Aug, 2025 12:21

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Motilal Oswal's research report on Cyient

Cyient (CYL)’s 3QFY22 revenue grew 5.2% QoQ in USD terms, above our estimate of 3.6% QoQ growth, led by beat on both Services (+4.4% QoQ CC) and DLM (+12.8% QoQ USD). Services growth was driven by Portfolio (10.0% QoQ), Aerospace (3.9% QoQ), and Communication (3.5% QoQ), while Rail Transportation (-9.5% QoQ) was weak. The 3Q EBIT margin saw a minor 14bps QoQ drop to 13.9% (above expectation), with improvement in Services (+14bp QoQ), compensated by weaker margins in DLM (-80bps QoQ). CYL has raised its margin guidance for FY22 to an at least 350bps YoY margin expansion (250–300bps earlier).

Outlook

We maintain our Buy rating on attractive valuations. Our target multiple of 20x FY24E EPS takes our TP to INR1310/share, implying an upside of 34%.

More Info on Trent

At 13:47 hrs Cyient was quoting at Rs 900.45, down Rs 12.45, or 1.36 percent.

It has touched an intraday high of Rs 919.15 and an intraday low of Rs 894.10.

It was trading with volumes of 50,035 shares, compared to its thirty day average of 23,400 shares, an increase of 113.83 percent.

In the previous trading session, the share closed down 0.24 percent or Rs 2.20 at Rs 912.90.

The share touched its 52-week high Rs 1,292.00 and 52-week low Rs 590.35 on 19 October, 2021 and 19 February, 2021, respectively.

Currently, it is trading 30.31 percent below its 52-week high and 52.53 percent above its 52-week low.

Market capitalisation stands at Rs 9,930.32 crore.

For all recommendations report, click here

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