Cyient reported weak Q1FY22 results.
- Services revenue declined 0.3% QoQ to US$119.3 mn
- However, margins came in at 13.1% (highest in six years) on savings in SG&A expenses
- Expect revenues to increase in double digits for services and 20% for DLM in FY22E with increase of 200 bps margins
Key triggers for future price performance
- Increased outsourcing in ER&D a key positive
- Improved demand from verticals, large deals, healthy order book, traction DLM business, and organisation restructuring to accelerate growth
- Margins to improve led by improved revenue growth and SG&A rationalisation
For details, click on the link below: Link to the report
Shares of Cyient Limited was last trading in BSE at Rs.1061.7 as compared to the previous close of Rs. 947.45. The total number of shares traded during the day was 203885 in over 15225 trades.
The stock hit an intraday high of Rs. 1091.4 and intraday low of 910.95. The net turnover during the day was Rs. 202471709.