ECONOMY

Cyient Q1 Review – Guidance Intact, Strong Commentary: Prabhudas Lilladher

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Prabhudas Lilladher Report

Cyient Ltd. reported revenue of $143.5 million down 4.3% QoQ U.S. dollar (our estimate: down 5%, consensus: down 5%), led by anticipated weakness in design-led manufacturing (down 20.1% QoQ U.S. dollar) and flattish growth in services (down 0.3% QoQ U.S. dollar).

Revenue lost this quarter was around $3 million due to higher absenteeism due to severe second Covid-19 wave in India and scarcity of digital talent.

Order intake was lower this quarter at $120 million, up 21% YoY (versus $238 million in Q4 FY21).

However, Cyient’s management is confident of growing double digit in FY22 with growth coming back from Q2 given order backlog and robust order intake.

Click on the attachment to read the full report:

Prabhudas Lilladher Cyient Q1FY22 Result Update.pdf

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