Cyient Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 5584.34 Crore) operating in IT Software sector.
For the quarter ended 31-12-2020, the company reported a Consolidated sales of Rs 1044.30 Crore, up 4.09 % from last quarter Sales of Rs 1003.30 Crore and down -5.57 % from last year same quarter Sales of Rs 1105.90 Crore Company reported net profit after tax of Rs 95.40 Crore in latest quarter.
Supported by a better-than-expected revenue and margin outlook, it upgrades FY21E/FY22E/FY23E EPS estimate by 4.5%/14.2%/6.5%. Its target price of INR660/share is based on 14x FY23E EPS (10% premium to its five-year median multiple), implying an upside of 30%.
Promoters held 22.9 per cent stake in the company as of June 30, 2020, while FIIs held 42.2 per cent, DIIs 22.1 and public and others 12.9 per cent.