Cyient Q4 Review - Another Strong All-Round Performance: IDBI Capital   
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Cyient Q4 Review - Another Strong All-Round Performance: IDBI Capital   

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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.’s Q4 FY21 consolidated revenue growth of 4.7% quarter-on-quarter in constant currency was in-line with our forecast.

Ebit margin improvement of approximately 150 basis points QoQ to 12.6% was a beat to our forecast of 11.8%.

Recurring earnings per share of Rs 10.1, up 16%/up 47% QoQ/year-on-year was also a beat.

For FY22, the company has guided for a double-digit YoY growth in services business and 20% plus growth for design-led manufacturing.

Further, it has guided for ~200 bps YoY improvement in consolidated Ebit margin, higher than our expectation.

Click on the attachment to read the full report:

IDBI Capital Cyient Q4FY21 Result Review.pdf

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