INSUBCONTINENT EXCLUSIVE:
ICICIdirect has maintained hold rating on Cyient in the long term with a revised target price of Rs 510
Shares of Cyient ended down 0.1% at Rs 461.6 on Tuesday while the BSE Sensex closed 205.10 points (0.49%) down at 41,323.81.
Company
FinancialsFor the quarter ended 31-12-2019, the company has reported consolidated sales of Rs 1105.90 crore, down -4.57% from last quarter
sales of Rs 1158.90 crore and down -6.89 % from last year same quarter sales of Rs 1187.70 crore
The company has reported net profit after tax of Rs 109.90 crore in the latest quarter
Mr.Vikas Sehgal, Mr.Vinai Thummalapally, Mr.Vivek Narayan Gouir, Ms.Matangi Gowrishankar
Company has Deloitte Haskins - Sells as its auditors
As on 31-12-2019, the company has a total of 109,971,221 shares outstanding
Investment RationaleGrowth challenge in the largest vertical A-D, weakness in top five accounts, investments impacting margins were key
drags for Q3, said ICICIdirect
These consistent issues have led to a washout FY20 with estimated 4.1% YoY fall in overall revenues
Disappointing outlook on post restructuring of margins and higher attrition remain near-term concern, said ICCIdirect.