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Motilal Oswal Report
Cyient DLM Ltd. reported a healthy quarter, with revenue growth of ~19% YoY in Q1 FY25, led by significant traction in the aerospace and defense verticals. However, margins declined 140 basis points YoY to 7.8%, mainly due to higher selling, general and administration expenses.
We maintain our FY25/FY26 earnings per share estimates and retain our Buy rating on the stock with a target price of Rs 880 (40 times FY26E EPS).
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