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.