Buy Cyient, target price Rs 2350: Anand Rathi

Anand Rathi has buy call on Cyient with a target price of Rs 2350. The current market price of Cyient Ltd. is Rs 1840.75.

Cyient Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 20408.14 Crore) operating in IT Software sector.

Cyient Ltd. key Products/Revenue Segments include Software Development Charges for the year ending 31-Mar-2023.



Financials
For the quarter ended 31-03-2024, the company reported a Consolidated Total Income of Rs 1884.20 Crore, up 2.39 % from last quarter Total Income of Rs 1840.20 Crore and up 7.55 % from last year same quarter Total Income of Rs 1751.90 Crore. Company reported net profit after tax of Rs 196.90 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 23.16 per cent stake in the company as of 31-Mar-2024, while FIIs owned 31.04 per cent, DIIs 25.91 per cent.