Cyient Q1 Results Review - Weak Numbers; Right Shifting Of Projects: IDBI Capital

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..IDBI Capital Report.Cyient Ltd. reported weak (-10.3% QoQ) revenues in Q1 FY25 due to ramp-up delays (in connectivity and sustainability vertical and softness in rail segment) and right shifting of projects. The company expects H2 FY25E to be better than H1 FY25E on the back of strong order book (order book backlog) & deal ramp ups. Management expects order book to show double digit growth compared to FY24. Hence, the company has guided high single digit growth for IT services and Ebit margin in range of 16% (seems to be optimistic considering wage hikes and furloughs quarter coming up) by end of FY25E. We believe, the guidance is based on optimism of H2 FY25E and hence conservatively built 4% YoY growth for FY25E. Also, management expects DET revenue growth to be flattish YoY in CC terms. Following the weakness in this quarter, we have revised target price downwards from Rs 2,210 to Rs 1,936 (22 times FY26E EPS). We downgrade our rating to Hold due to weakness in Q1..Click on the attachment to read the full report:.Ramco Systems Q1 Review - Mixed Results; Healthy Order Book, Expanding Footprint: Dolat Capital.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 Q1 Results Review - Weak Numbers; Right Shifting Of Projects: IDBI Capital

The brokerage expects Ebit margins to decline in the coming quarters due to revenue de-growth in Q1 which will further impact on full year.

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Cyient Q1 Results Review - Weak Numbers; Right Shifting Of Projects: IDBI Capital

The brokerage expects Ebit margins to decline in the coming quarters due to revenue de-growth in Q1 which will further impact on full year.

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