Cyient DLM Q3 Results Review - Growth Uninterrupted; Another Strong Quarter: Motilal Oswal

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Cyient DLM Ltd. reported another strong quarter with a revenue growth of ~50% YoY in Q3 FY24, led by significant traction from the aerospace and defense verticals. However, margins declined 40 basis points YoY to 9.2%, primarily due to higher selling, general and administration expenses. .Valuation and viewCyient DLM, being an integrated electronic manufacturing services and solutions provider in the rapidly growing critical end-user industries, is likely to capture its share of the pie on the back of its strong core competencies and high technical capabilities. Going ahead, we expect Cyient DLM to sustain its growth momentum, aided by:strong order book, coupled with healthy order inflows;high customer stickiness; andstrong promoter heritage. We estimate Cyient DLM to report a compound annual growth rate of 41%/44%/ 81% in revenue/Ebitda/adjusted profit after tax over FY23-26.  We maintain our FY24/FY25/FY26 earnings per share estimates and retain our 'Buy' rating on the stock with a target price of Rs 830 (35 times FY26 EPS)..Click on the attachment to read the full report:.Cyient DLM Q3 Results: Profit Rises 222%, Beats Estimates.DISCLAIMERThis 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.

Cyient DLM Q3 Results Review - Growth Uninterrupted; Another Strong Quarter: Motilal Oswal

Going ahead, we expect Cyient DLM to sustain its growth momentum

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