Buy Cyient; target of Rs 440: ICICI Direct

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

ICICI Direct's research report on Cyient

Cyient Ltd (Cyient) reported a decent set of Q2FY21 numbers. Dollar revenues increased 3.4% QoQ (1.3% in constant currency terms) led by 1.7% QoQ growth in services revenues and 13.3% QoQ growth in DLM revenues. The growth in services revenues was led by communication (28.4% of revenues), up 7.7% QoQ and transportation (14.3% of revenues) up 21.6% QoQ, partially offset by a decline in aerospace & defence (27% of revenues), down 11.5% QoQ and semiconductor, IoT and analytics (5.3% of revenues) down 2.3% QoQ. In terms of margin, services EBIT margins increased 542 bps QoQ to 12.2% led by higher utilisation, lower subcontracting cost and lower restructuring cost.

Outlook

Hence, we upgrade the stock from HOLD to BUY with a revised target price of Rs 440 (10x FY23E EPS).

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Read More