Cyient - The Proposed Listing Of The Design Led Manufacturing May Lead To Value Unlocking: HDFC Securities

HDFC Securities Retail Research

Cyient Ltd. offers niche products and process engineering services in domains such as transportation (aerospace and railway), communication, utilities, semiconductors etc. Cyient has also developed design-led-manufacturing business to impart system integration and prototyping capabilities in engineering services and it provides design-to-production solutions to its clients.

Company specialises in engineering, DLM, network engineering operations, IT service management, data management, geospatial solutions, big data consulting, Internet of things/mark to market and advanced analytics.

Cyient’s focus on large deals, client mining, strong relationship with clients, healthy order book and timely acquisitions to support its product solutions profile could result in healthy revenue trajectory in coming years.

This, coupled with recovery in aerospace division and healthy deal pipeline in DLM bodes well for revenue growth.

Cyient DLM Ltd. has filed preliminary papers with capital markets regulator Securities and Exchange Board of India to raise Rs 740 crore through an initial public offering. The initial share sale is purely a fresh issue of equity share with no offer for sale component. The proposed listing of the DLM (DRHP filed) may lead to value unlocking.

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