Management Meet Update - Cyient Ltd - ICICI Direct

Growth: The company is targeting US$250 million (mn) quarterly revenue run rate in FY24 from the current US$175 mn, to be driven by organic as well as acquisition synergies

- Revenue mix change Aerospace vertical revenue mix has come down from 34% to 26% now due to sluggish growth. The company expects it to further fall to 20% in FY24. The company expects growth to be fuelled by communications, healthcare, automobile, energy (largely sustainable programmes through recently acquired Citec)

- DLM: It did not offer any incremental commentary on the DLM business due to regulatory requirement but expects a decision on this business by the end of the current fiscal

Key triggers for future price performance

- Acquired entities to provide diversification, which, in turn, is expected to provide growth, looking at US$1 bn revenues in FY24

- Improved demand from large deals, healthy order book, rebound in DLM business and organisation restructuring to accelerate growth

- Strategic buyout a multi-year arrangement with an auto major

For details, click on the link below: Link to the report

Shares of Cyient Limited was last trading in BSE at Rs. 794.65 as compared to the previous close of Rs. 824.70. The total number of shares traded during the day was 17788 in over 1884 trades.

The stock hit an intraday high of Rs. 831.10 and intraday low of 790.00. The net turnover during the day was Rs. 14282461.00.

Source : Equity Bulls

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Cyient INE136B01020 ManagementMeetUpdate ICICIDirect