BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Cyient Ltd.’s Q2 FY22 revenue grew 4.6% QoQ in U.S. dollar terms (moderately higher than our estimate of 4% QoQ growth).
This was led by broad-based growth in services (up 4.4%) and design-led manufacturing (up 5.4%).
The recent acquisition of Workforce Delta contributed 0.7% to services revenue in Q2 FY22.
Cyient's management retained its double-digit growth guidance in FY22 in the services business, while design-led manufacturing growth is expected to be 15– 20% (versus the 20% growth guidance earlier).
Within the services business, growth in aerospace (4% QoQ) and utilities (27% QoQ) drove performance, partially offset by decline in communication (down 4% QoQ).
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