Cyient - Sustained Outlook Despite The Ongoing Uncertainty: Motilal Oswal

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Motilal Oswal Report

Cyient Ltd.’s service segment is shaping up quite well, with positive momentum in most of its growth engines. Conversely, other segments are on the verge of recovery and should incrementally contribute to its overall growth in FY24E.

On an SOTP basis, we are valuing its stake in design led manufacturing at market valuation with a holding company discount of 25%. We value the DET business at 25 times our FY25E earnings per share.

We maintain our 'Buy' rating on the stock on attractive valuations. Our SOTP based target price of Rs 2,250 implies an upside of 15%.

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Motilal Oswal Cyient Company Update.pdf

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Also Read: Cyient - Balancing The Right Mix: IDBI Capital

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