Growth uninterrupted; another strong quarter

Company
24 Jan 2024
5 Min read 
  • Cyient DLM reported strong revenue growth of ~50% YoY in 3QFY24.
  •  Margins declined due to higher SG&A expenses.
  •  Order book remained flat QoQ at ~INR22.9b.
  •  The company expects margin improvements in the next quarter.
  •  Cyient DLM plans to bring down net working capital and expand its facilities.
  •  Analysts maintain a BUY rating on the stock with a TP of INR830.
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