ADVERTISEMENT

Cyient - Diversification To Fuel Growth: ICICI Direct

The company expects growth to be fuelled by communications, healthcare, automobile, energy.

<div class="paragraphs"><p>A programmer working on a laptop. (Photo: Danial Igdery/ Unsplash)</p></div>
A programmer working on a laptop. (Photo: Danial Igdery/ Unsplash)

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. 

ICICI Direct Report

We attended Cyient Ltd.'s Analyst day at their Hyderabad campus on Friday Growth: The company is targeting $250 million quarterly revenue run rate in FY24 from the current $175 million, 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.

Cyient expects growth to be fuelled by communications, healthcare, automobile, energy (largely sustainable programmes through recently acquired Citec).

It did not offer any incremental commentary on the design led manufacturing business due to regulatory requirement but expects a decision on this business by the end of the current fiscal.

Click on the attachment to read the full report:

ICICI Direct Cyient Management Meet Note.pdf

DISCLAIMER

This report is authored by an external party. BQ Prime 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 BQ Prime.

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