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Motilal Oswal Report
Cyient DLM Ltd. reported another quarter of strong revenue growth. Its revenue jumped ~30% YoY in Q4 FY24, fueled by significant traction from the Defense (+78% YoY) and Aerospace (+52% YoY) verticals.
However, Ebitda margin contracted 100 basis points YoY to 10.5%, primarily due to the increase in selling, general and administrative expenses.
We broadly maintain our FY25/FY26 earning per share estimates. Reiterate Buy with a target price of Rs 840.
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