Cyient Q1 Review - Guidance Intact, Strong Commentary: Prabhudas Lilladher
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Prabhudas Lilladher Report
Cyient Ltd. reported revenue of $143.5 million down 4.3% QoQ U.S. dollar (our estimate: down 5%, consensus: down 5%), led by anticipated weakness in design-led manufacturing (down 20.1% QoQ U.S. dollar) and flattish growth in services (down 0.3% QoQ U.S. dollar).
Revenue lost this quarter was around $3 million due to higher absenteeism due to severe second Covid-19 wave in India and scarcity of digital talent.
Order intake was lower this quarter at $120 million, up 21% YoY (versus $238 million in Q4 FY21).
However, Cyient's management is confident of growing double digit in FY22 with growth coming back from Q2 given order backlog and robust order intake.
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