External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<div><div><div><div><ul><li>Accenture reported robust Q4FY22 numbers that were in line with the street expectations.</li><li>Revenue for the quarter stood at $15.4 Bn, posting a healthy growth of 15% YoY in USD and 22.4% in local currency despite rising supply-side constraints.</li><li>Operating margins grew by 10bps and stood at 17.4%. The company’s EPS for FY22 stood at $10.7, up 17% from the $9.16 it reported in FY21 and 22% from the adjusted EPS of $8.80 in FY21 (this excluded $0.36 in gains on an investment). </li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Accenture reported robust Q4FY22 numbers that were in line with the street expectations.Revenue for the quarter stood at $15.4 Bn, posting a healthy growth of 15% YoY in USD and 22.4% in local currency despite rising supply-side constraints.Operating margins grew by 10bps and stood at 17.4%. The company’s EPS for FY22 stood at $10.7, up 17% from the $9.16 it reported in FY21 and 22% from the adjusted EPS of $8.80 in FY21 (this excluded $0.36 in gains on an investment). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Accenture - Results In-Line With Expectation

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<div><ul><li>Services revenues came in US$130.6 mn (up 1.2% QoQ, 1.6% QoQ in CC) while DLM business reported decline of 9.4% QoQ to US$26.1 mn.</li><li>Overall EBIT margin at the company level improved 59 bps to 14.5%, services EBIT margin came in at 15.4%, down 23 bps QoQ while DLM margins came in at 9.8%, up 379 bps QoQ.</li><li>The company reported margins of 13.9% at the group level, which were down 14 bps QoQ while they were up 272 bps YoY</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p></div>

Services revenues came in US$130.6 mn (up 1.2% QoQ, 1.6% QoQ in CC) while DLM business reported decline of 9.4% QoQ to US$26.1 mn.Overall EBIT margin at the company level improved 59 bps to 14.5%, services EBIT margin came in at 15.4%, down 23 bps QoQ while DLM margins came in at 9.8%, up 379 bps QoQ.The company reported margins of 13.9% at the group level, which were down 14 bps QoQ while they were up 272 bps YoYContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cyient Ltd - Guides 13-15% CC Growth for FY23; Acquires Citec

<ul><li>Indian IT &amp; ER&amp;D company Cyient will acquire global plant and product engineering services company Citec for about Rs 800 Cr to strengthen its business offerings.</li><li>The company said this will be the largest outbound acquisition by an Indian engineering services company as well as the company's largest acquisition to date</li><li>We recommend a BUY on the stock and assign a 17x P/E multiple to the company’s FY24E earnings of Rs 60.0/share to arrive at A TP of Rs 1,000/share, implying an upside of 11% from CMP.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Indian IT &amp; ER&amp;D company Cyient will acquire global plant and product engineering services company Citec for about Rs 800 Cr to strengthen its business offerings.The company said this will be the largest outbound acquisition by an Indian engineering services company as well as the company's largest acquisition to dateWe recommend a BUY on the stock and assign a 17x P/E multiple to the company’s FY24E earnings of Rs 60.0/share to arrive at A TP of Rs 1,000/share, implying an upside of 11% from CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cyient: Cyient’s Acquisition of Citec to Provide Profitable Growth

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Revenue fell 0.4% QoQ in USD CC terms in 4QFY22, but was above our estimate of -1.1% QoQ USD CC.</li><li>The beat was led by both Services (+1.6% QoQ USD CC) and DLM (-9.3% QoQ USD).</li><li>Growth in Services was driven by Portfolio (10% QoQ), Aerospace (3.9%), and Communications (3.5%), while growth in Rail Transportation (-9.5%) was weak.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Revenue fell 0.4% QoQ in USD CC terms in 4QFY22, but was above our estimate of -1.1% QoQ USD CC.The beat was led by both Services (+1.6% QoQ USD CC) and DLM (-9.3% QoQ USD).Growth in Services was driven by Portfolio (10% QoQ), Aerospace (3.9%), and Communications (3.5%), while growth in Rail Transportation (-9.5%) was weak.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cyient: Ambitious FY23 Guidance, but Valuations Remains Inexpensive

<ul><li>Cyient reported robust Q4FY22 results with revenue for the quarter at Rs 1,181 Cr, declined by 0.2 % QoQ and improved by 8.1% YoY. Operating Margins improved by 60bps QoQ to 14.5%.</li><li>Services operating margins de-grew by 20bps QoQ to 15.4% while the DLM margins stood at 9.8% the quarter before being aided by strong execution</li><li>We recommend a BUY on the stock and assign a 17x P/E multiple to the company’s FY24E earnings of Rs 60.0/share to arrive at A TP of Rs 1,000/share, implying an upside of 20% from CMP.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Cyient reported robust Q4FY22 results with revenue for the quarter at Rs 1,181 Cr, declined by 0.2 % QoQ and improved by 8.1% YoY. Operating Margins improved by 60bps QoQ to 14.5%.Services operating margins de-grew by 20bps QoQ to 15.4% while the DLM margins stood at 9.8% the quarter before being aided by strong executionWe recommend a BUY on the stock and assign a 17x P/E multiple to the company’s FY24E earnings of Rs 60.0/share to arrive at A TP of Rs 1,000/share, implying an upside of 20% from CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cyient: Robust Results; Outlook Continues to Be Healthy

India

Cyient is an Indian multinational technology company specializing in engineering, manufacturing, and digital transformation solutions. It provides services across various industries, including aerospace, defense, transportation, communications, and healthcare. Cyient was established in 1991 in Hyderabad, India.

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Cyient (CYL IN)

Accenture - Results In-Line With Expectation

Revenue for the quarter stood at $15.4 Bn, posting a healthy growth of 15% YoY in USD and 22.4% in local currency despite rising supply-side...

Axis Direct

Cyient Ltd - Guides 13-15% CC Growth for FY23; Acquires Citec

Services revenues came in US$130.6 mn (up 1.2% QoQ, 1.6% QoQ in CC) while DLM business reported decline of 9.4% QoQ to US$26.1 mn.

ICICI Securities Limited

Cyient: Cyient’s Acquisition of Citec to Provide Profitable Growth

We recommend a BUY on the stock and assign a 17x P/E multiple to the company’s FY24E earnings of Rs 60.0/share to arrive at A TP of Rs 1,000/share,...

Axis Direct

Cyient: Ambitious FY23 Guidance, but Valuations Remains Inexpensive

Revenue fell 0.4% QoQ in USD CC terms in 4QFY22, but was above our estimate of -1.1% QoQ USD CC.The beat was led by both Services (+1.6% QoQ USD...

Motilal Oswal

Cyient: Robust Results; Outlook Continues to Be Healthy

We recommend a BUY on the stock and assign a 17x P/E multiple to the company’s FY24E earnings of Rs 60.0/share to arrive at A TP of Rs 1,000/share,...

Axis Direct

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