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.
The companys top management includes Mr.Alain De Taeye, Mr.B V R Mohan Reddy, Mr.Krishna Bodanapu, Mr.M M Murugappan, Mr.Som Mittal, 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.