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

<ul><li>Macro environment outlook: The high uncertainty and lack of decision-making have persisted so far.</li><li>However, the core Digital Engineering &amp; Technology (DET) business is showing early signs of stabilization and recovery.</li><li>Nonetheless, global uncertainty continues to impact the business at the group level.</li></ul>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.

Macro environment outlook: The high uncertainty and lack of decision-making have persisted so far.However, the core Digital Engineering &amp; Technology (DET) business is showing early signs of stabilization and recovery.Nonetheless, global uncertainty continues to impact the business at the group level.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 Ltd - Degrowth Across All Fronts; Upbeat Outlook

<ul><li>Macro environment outlook: The high uncertainty and lack of decision-making observed in March and April have eased, particularly in May and June, as customers have adapted to the new reality.</li><li>Nonetheless, global uncertainty still affects the business at a group level.</li><li>Deal wins/pipeline: The company secured a nearly $23 Mn deal with an impact-based communication service provider for wireless infrastructure rollout. </li></ul>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.

Macro environment outlook: The high uncertainty and lack of decision-making observed in March and April have eased, particularly in May and June, as customers have adapted to the new reality.Nonetheless, global uncertainty still affects the business at a group level.Deal wins/pipeline: The company secured a nearly $23 Mn deal with an impact-based communication service provider for wireless infrastructure rollout. 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 Ltd. - Degrowth Across All Fronts; Stable Outlook

External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

Prabhudas Lilladher is one of India's leading research based financial services organisation.

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>We cut our FY25/FY26/FY27E EPS estimates significantly by 31.2%/27.5%/16.8% to factor in low margins given the ECL provision in Q3FY25, M&amp;A expenses, and delay in order inflow from major clients.</li><li>We have revised TP to Rs692 (Rs831 earlier), based on 30x FY27E earnings.</li><li>CYIENTDL Q3FY25 EBITDA was much below our estimates due to higher expenses related to M&amp;A and ECL provision, and muted order inflow.</li></ul>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.

We cut our FY25/FY26/FY27E EPS estimates significantly by 31.2%/27.5%/16.8% to factor in low margins given the ECL provision in Q3FY25, M&amp;A expenses, and delay in order inflow from major clients.We have revised TP to Rs692 (Rs831 earlier), based on 30x FY27E earnings.CYIENTDL Q3FY25 EBITDA was much below our estimates due to higher expenses related to M&amp;A and ECL provision, and muted order inflow.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 DLM - Disappointing Results, Margin Contraction Continues

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>Cyient DLM’s (CYIENTDL) 3QFY25 consolidated revenue/EBITDA grew by ~38%/23% YoY.</li><li>However, EBITDA missed our estimates as margins declined 90bp YoY due to a high mix of low-margin business (BEL order execution).</li><li>Standalone revenue (excl. Altek – recently acquired) grew only ~11% YoY in 3QFY25. </li></ul>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 DLM’s (CYIENTDL) 3QFY25 consolidated revenue/EBITDA grew by ~38%/23% YoY.However, EBITDA missed our estimates as margins declined 90bp YoY due to a high mix of low-margin business (BEL order execution).Standalone revenue (excl. Altek – recently acquired) grew only ~11% YoY in 3QFY25. 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 DLM - Slowdown in Order Flows Dampens Growth Visibility Earnings Below Our Estimates

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund 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.

Thematic (Sector/Industry)

<ul><li>The IT sector is expected to report subdued revenue growth in an otherwise seasonally strong quarter, as persistent global macroeconomic uncertainty and recent US tariff measures continue to dampen discretionary spending</li><li>Clients remain cautious, resulting in slower growth and intensified pricing pressure, although deal activity witnessed some improvement towards the end of the quarter</li><li>The overall deal pipeline remains steady, with deal wins in cost optimization, infrastructure modernization, and AI-led initiatives.</li></ul>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.

The IT sector is expected to report subdued revenue growth in an otherwise seasonally strong quarter, as persistent global macroeconomic uncertainty and recent US tariff measures continue to dampen discretionary spendingClients remain cautious, resulting in slower growth and intensified pricing pressure, although deal activity witnessed some improvement towards the end of the quarterThe overall deal pipeline remains steady, with deal wins in cost optimization, infrastructure modernization, and AI-led initiatives.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.

IT Sector (Q2FY26E Results Preview): Steering through uncertainty

India

Cyient Limited provides engineering services, data analytics, and data, networks and operations solutions. The Company offers its services to the aerospace and defense, energy, heavy machinery, consumer, medical utility, communications, semiconductor, and transportation industries around the world.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Cyient Ltd (CYL IN)

Cyient Ltd - Degrowth Across All Fronts; Upbeat Outlook

The high uncertainty and lack of decision-making have persisted so far. However, the core Digital Engineering & Technology (DET) business is...

Axis Direct

Cyient Ltd. - Degrowth Across All Fronts; Stable Outlook

Macro environment outlook: The high uncertainty and lack of decision-making observed in March and April have eased, particularly in May and June,...

Axis Direct

Cyient DLM - Disappointing Results, Margin Contraction Continues

CYIENTDL Q3FY25 EBITDA was much below our estimates due to higher expenses related to M&A and ECL provision, and muted order inflow.

Prabhudas Lilladhar

Cyient DLM - Slowdown in Order Flows Dampens Growth Visibility Earnings Below Our Estimates

We estimate CYIENTDL to report a CAGR of 27%/34%/43% in revenue/ EBITDA/adj. PAT over FY24-27E. We retain our BUY rating on the stock with a TP of...

Motilal Oswal

IT Sector (Q2FY26E Results Preview): Steering through uncertainty

The overall deal pipeline remains steady, with deal wins in cost optimization, infrastructure modernization, and AI-led initiatives.

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)