Cyient Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for CYIENT, BSE:532175 Cyient Ltd.

Cyient Ltd.

27 Jul 2020

1150.50

0.38%

CYIENT LIMITED

Accumulate: Cyient Ltd.

Recommendation Target

Geojit BNP Paribas

Weak quarter , valuation at comfortable levels. Cyient Ltd, formerly known as InfoTech Enterprises is one amongst the leading players in the IT enabled services space providing services to the Engineering Research and Development segment. We expect growth in FY22E due to communication and transportation vertical and value Cyient at 10x FY22E EPS (Close to 30% discount to last 5 year average P/E) with revised down target price of Rs.360 and change rating from Buy to Accumulate....

Cyient Ltd. has lost -38.83% in the last 1 Year

Cyient Ltd.

17 Jul 2020

1150.50

0.38%

Cyient: Q1FY21 Result Review

Buy: Cyient Ltd.

Target

IDBI Capital

CYL expects Q2FY21 revenue to see QoQ growth and expects low-to-mid-teens YoY decline for FY21. Currently, it has a relatively more positive outlook for DLM. With the cost saving initiatives it expects sharp improvement in EBIT margin to 9%+ in H2FY21. We factor Q1FY21 beat and increase FY21/22 revenue forecast (in US$) by 5.5%/6.9% and EPS by 9.7%/10.2%. Given the improvement in growth outlook, we increase our target PER to 10x (vs. 8x earlier) i.e., ~30% discount to the median PER of 13.8x in the...

Cyient Ltd. has an average target of 1540.86 from 7 brokers.

Cyient Ltd.

17 Jul 2020

1150.50

0.38%

Result Update:Cyient

Hold: Cyient Ltd.

Target

Axis Direct

Cyient reported better than expected results in Q1 FY21. Revenue declined by 12.5%QoQ in cc terms and stood at $130.6mn. Its services revenue stood at $112.2 mn declined 14.3% in CC terms.DLM business showed a strong growth of 8.5%QoQ and stood at $18.4mn.

Cyient Ltd. has an average target of 1540.86 from 7 brokers.

Cyient Ltd.

08 May 2020

1150.50

0.38%

Cyient Ltd

Hold: Cyient Ltd.

Target

ICICI Securities Limited

Cyient Ltd (Cyient) reported a poor set of Q4FY20 numbers. Revenues declined 3.8% QoQ mainly led by 5.6% QOQ decline in services revenues. The decline in services revenues was led by 24.7% QoQ decline in E&U; vertical and 22.3% QoQ decline in semiconductor IoT and Analytics. Normalised margins fell 118 bps due to lower utilisation and pricing pressure. Reported PAT declined 58% QoQ. However, adjusting for one off...

Cyient Ltd. has lost -38.83% in the last 1 Year

Cyient Ltd.

08 May 2020

1150.50

0.38%

Cyients: Q4FY20 Result Review

Buy: Cyient Ltd.

Target

IDBI Capital

CYL's Q4FY20 consolidated revenue was in-line with our forecast, however, EBIT margin and EPS was a miss. Consolidated revenue of US$149.2 mn declined by 3.9% QoQ mainly on account of a 5.6% QoQ decline in Services business (88.7% of revenue). Consolidated EBIT margin declined by 120bps QoQ at 8.4% vs. our forecast of 8.9%. Recurring EPS of Rs6.9, declined by 30%/59% QoQ/YoY. CYL expects both services and DLM business to see a sharp QoQ decline in Q1FY21 due to the impact of Covid-19. It expects Aerospace & Defense vertical to be impacted the most. However, it expects stability in Q2FY21....

Cyient Ltd. is trading below all available SMAs

Cyient Ltd.

08 May 2020

1150.50

0.38%

Result Update:Cyient

Hold: Cyient Ltd.

Target

Axis Direct

Cyient Ltd (Cyient) reported overall sluggish growth in Q4 FY20. Revenue stood at Rs. 1073.6 crs down 9.7% YoY and 2.9% QoQ. Operating profit showed a de-growth of 23.4% YoY at Rs. 408 crs, while normalized operating margin declined by 232 bps at 9.2% due to pricing pressure and lower utilization.

Cyient Ltd. has lost -38.83% in the last 1 Year

Cyient Ltd.

07 Apr 2020

1150.50

0.38%

Cyient Ltd

Hold: Cyient Ltd.

Target

ICICI Securities Limited

Cyient Ltd (Cyient) hosted a conference call to highlight the business impact of Covid-19. The company acknowledges that while the revenue trajectory remains uncertain, Cyient would aggressively focus on cost rationalisation to keep margins under control. The company expects some impact of Covid19 in Q4 with full visible impact in FY21E. We believe more than 50% of Cyient's revenues would be impacted by Covid-19. The company's exposure to aerospace (~35%), transport (~12%), energy (~5%) and semiconductor (~5%) is expected to face headwinds due to Covid-19 related issues. In order to mitigate the headwinds, Cyient is focusing on cost...

Cyient Ltd. has an average target of 1540.86 from 7 brokers.

Cyient Ltd.

18 Mar 2020

1150.50

0.38%

Cyient Ltd

Hold: Cyient Ltd.

ICICI Securities Limited

The spread of Covid-19 has led to lockdowns in many countries globally and could have adverse economic implications. In addition, the recent fall in crude prices could also have an adverse impact of fiscal health of oil producing countries. As a result, IT companies, which have considerable exposure to verticals such as oil, energy & utilities; banking & capital markets; manufacturing and travel & transport could see an adverse impact from the ongoing crisis. Companies like Wipro, Infosys in large cap and MindTree, NIIT Tech, Sonata software, Cyient, Accelya Solutions among...

Cyient Ltd. has lost -38.83% in the last 1 Year

Cyient Ltd.

21 Jan 2020

1150.50

0.38%

Cyient Ltd

Hold: Cyient Ltd.

Target

ICICI Securities Limited

Revenues from core services fell marginally by 0.2% to US$155.2 million while DLM revenues dipped 36.8% QoQ to US$15.1 million. Weakness within core services was mainly due to drag in its largest vertical aerospace & defence (decline 5.1% QoQ) on account of a dip in spend in engineering design. Decline in transport (down 14.7% QoQ) vertical also contributed to the slowdown in core. On the positive side, communication recovered healthily with 2.3% QoQ growth. Going ahead, growth is expected to gradually recover in aerospace from Q4FY20E. Taking into account...

Cyient Ltd. is trading below all available SMAs

Cyient Ltd.

17 Jan 2020

1150.50

0.38%

Cyient (3QFY20): Growth challenged. Maintain NEUTRAL

Neutral: Cyient Ltd.

Target

HDFC Securities

Cyient is struggling with issues such as (1) Stress in services portfolio, (2) Growth challenges in top accounts (3) Issues in core vertical (A&D), (4) Focus on lower margin DLM business and (5) Lower margins due to higher investments. There could be some recovery in performance (both revenue and margins) but concerns related to slowdown in decision making, trade war risks and higher mix of legacy services remain. Cash generation and collections have improved. We expect USD revenue growth of -3.7/+4.2/+7.2% and EBIT% of 10.0/11.5/12.1% for FY20/21/22E. The stock trades at reasonable valuation of 11.0x FY21E, which is at a steep ~60% discount to LTTS. Re-rating will only happen with growth visibility and better execution (margin). Risk to our thesis includes better US/Europe macro and INR depreciation. We maintain NEU on Cyient post weak 3Q. Services revenue was below estimate while margin performance was inline. Some margin improvement is expected in FY21E but growth in core verticals remains challenged. We have increased EPS est. by 1.0/0.8% for FY21/22E and our TP of Rs 490 is based on 11x Dec-21E EPS.

Cyient Ltd. has an average target of 1540.86 from 7 brokers.

Is Cyient Ltd. worth buying?

527 Votes:

Buy 81.78%

Sell 12.33%

Hold 5.88%

RESEARCH REPORTS

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