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.
IDBI Capital Report
Cyient Ltd. reported healthy set of Q3 FY22 numbers with IT services revenues increasing 4.4% QoQ in constant currency terms and services Ebit margins remaining flat at 15.6%.
The company has also won seven large deals with total contract potential of ~$68.8 million (six from services and one from design-led manufacturing) which represent healthy growth in coming quarters.
Cyient’s order book in IT services has also improved 63.6% QoQ to $200.6 million. This coupled with healthy growth in top 30 accounts (up 15% YoY), new age tech (up 22% YoY in Q3 FY22), double digit growth for next two years, improving margin trajectory (14% in near term and 15.5% in medium term) and investment in leadership to drive growth bodes well for the company.
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