December 8, 2021

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Cyient Q2 Review – On A Turnaround Journey: IDBI Capital

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Cyient Ltd. reported healthy set of Q2 FY22 numbers. The company saw a recovery in aerospace vertical (up 4.0% QoQ) and it looks like the vertical has bottomed out.

We expect aerospace segment to witness gradual recovery in revenues over the coming quarter.

Cyient has also won six large deals with total contract potential of ~$63.5 million (four from services, one from design-led-manufacturing and one composite build-to-specification deal) which represent healthy growth in coming quarters.

This coupled with company’s guidance of double digit growth for next two years, improving margin trajectory (14% in near term and 15.5% in medium term) coupled with investment in leadership to drive growth bodes well for the company.

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IDBI Capital
2021-10-17 17:20:36

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