Cyient Ltd. share price target

Cyient reported revenue of US$ 114.3mn, well below our estimate by 8.2%. INR revenue came in at Rs 7.26bn, 8.1% below our estimate. This was due to a 34.3% QoQ revenue decline in Rangsons owing to deferment of an order to 2QFY16.

Background: Incorporated in 1991, Infotech is a mid cap IT Company with FY14 revenues of INR 22.1bn specializing in engineering solutions, including product development and life cycle support, process, network & content engineering. With 12,094 employee's spread across 35 locations, Infotech caters to multiple industries & its clientele includes 22 Fortune 500 & 27 Global 500 blue chip organizations. Infotech established a 49:51 strategic JV with Pratt & Whitney for its associate aerospace engineering company. It operates in two segments: Data Transformation, Network & Operations (DNO) segment catering to utility, transportation & government verticals & contributes 35.2% of revenues while the Engineering (ENGG) segment addresses solutions in the engineering, manufacturing & industrial...

Background: Incorporated in 1991, Infotech is a mid cap IT Company with FY14 revenues of INR 22.1bn specializing in engineering solutions, including product development and life cycle support, process, network & content engineering. With 12,094 employee's spread across 35 locations, Infotech caters to multiple industries & its clientele includes 22 Fortune 500 & 27 Global 500 blue chip organizations. Infotech established a 49:51 strategic JV with Pratt & Whitney for its associate aerospace engineering company. It operates in two segments: Data Transformation, Network & Operations (DNO) segment catering to utility, transportation & government verticals & contributes 35.2% of revenues while the Engineering (ENGG) segment addresses solutions in the engineering, manufacturing & industrial...

Engineering business continue to grow in the fourth consecutive quarter with north America region leading overall growth. Segments like Aerospace and defense, heavy machinery, consumer and medical industry delivery units performed significantly better than previous quarter. The Communications industry business showed a robust growth of 5% in Q4, driven mainly by the APAC region which grew in excess of 20% over the quarter. Management also believes that strong growth in the segment likely to continue in the upcoming period. Utility business declined for the quarter due to major project in US and moved steady for the period. Significant growth in the APAC and Europe region support the business segment the outlook for...

Background: Incorporated in 1991, Infotech is a mid cap IT Company with FY14 revenues of INR 22.1bn specializing in engineering solutions, including product development and life cycle support, process, network & content engineering. With 12,094 employee's spread across 35 locations, Infotech caters to multiple industries & its clientele includes 22 Fortune 500 & 27 Global 500 blue chip organizations. Infotech established a 49:51 strategic JV with Pratt & Whitney for its associate aerospace engineering company. It operates in two segments: Data Transformation, Network & Operations (DNO) segment catering to utility, transportation & government verticals & contributes 35.2% of revenues while the Engineering (ENGG) segment addresses solutions in the engineering, manufacturing & industrial...

Cyient Event Update

Background: Incorporated in 1991, Infotech is a mid cap IT Company with FY14 revenues of INR 22.1bn specializing in engineering solutions, including product development and life cycle support, process, network & content engineering. With 12,094 employee's spread across 35 locations, Infotech caters to multiple industries & its clientele includes 22 Fortune 500 & 27 Global 500 blue chip organizations. Infotech established a 49:51 strategic JV with Pratt & Whitney for its associate aerospace engineering company. It operates in two segments: Data Transformation, Network & Operations (DNO) segment catering to utility, transportation & government verticals & contributes 35.2% of revenues while the Engineering (ENGG) segment addresses solutions in the engineering, manufacturing & industrial product verticals & contributes 63.6% of revenues. The company's business is...

Background: Incorporated in 1991, Infotech is a mid cap IT Company with FY14 revenues of INR 22.1bn specializing in engineering solutions, including product development and life cycle support, process, network & content engineering. With 12,094 employee's spread across 35 locations, Infotech caters to multiple industries & its clientele includes 22 Fortune 500 & 27 Global 500 blue chip organizations. Infotech established a 49:51 strategic JV with Pratt & Whitney for its associate aerospace engineering company. It operates in two segments: Data Transformation, Network & Operations (DNO) segment catering to utility, transportation & government verticals & contributes 35.2% of revenues while the Engineering (ENGG) segment addresses solutions in the engineering, manufacturing & industrial...

Background: Incorporated in 1991, Infotech is a mid cap IT Company with FY14 revenues of INR 22.1bn specializing in engineering solutions, including product development and life cycle support, process, network & content engineering. With 12,094 employee's spread across 35 locations, Infotech caters to multiple industries & its clientele includes 22 Fortune 500 & 27 Global 500 blue chip organizations. Infotech established a 49:51 strategic JV with Pratt & Whitney for its associate aerospace engineering company. It operates in two segments: Data Transformation, Network & Operations (DNO) segment catering to utility, transportation & government verticals & contributes 35.2% of revenues while the Engineering (ENGG) segment addresses solutions in the engineering, manufacturing & industrial...