Cyient Q3 Results Review - FY24 Revenue Guidance Cut On Expected Lines: Motilal Oswal

Motilal Oswal Report

Cyient Ltd.’s service segment was hit by near-term challenges, while the long-term prospects still remain constructive. Additionally, the macro recovery should contribute incrementally to its overall growth in FY25E/FY26E.

On an SOTP basis, we are valuing its stake in DLM at market valuation with a holding company discount of 25%. We the digital, engineering and technology business at 23 times our FY26E earnings.

We broadly keep our FY25/FY26 consolidated profit after tax estimates unchanged.

We maintain our 'Buy' rating on the stock on attractive valuations. Our SOTP-based target price of Rs 2,400 implies an upside potential of 19%.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.