Cyient's growth levers are in place: Why it is this week's stock pick
Synopsis
Most of Cyient’s business verticals are poised for growth in this fiscal year. The company has also won five large deals with a total contract potential of $105.2 million in the second quarter.
Growth in the services business and acquisition-related gains helped Cyient, a global engineering and technology solutions company, to report decent sequential revenue growth of 10% in constant currency (CC) terms in the second quarter of 2022-23. However, the reported net profit declined 32% q-o-q (35% y-o-y) due to an exceptional item (legal expense) and a one-off M&A expense. The management expects overall revenue growth of 13-15% in CC terms
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