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)

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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


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