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Cyient Ltd.’s Q4 FY21 consolidated revenue growth of 4.7% quarter-on-quarter in constant currency was in-line with our forecast.
Ebit margin improvement of approximately 150 basis points QoQ to 12.6% was a beat to our forecast of 11.8%.
Recurring earnings per share of Rs 10.1, up 16%/up 47% QoQ/year-on-year was also a beat.
For FY22, the company has guided for a double-digit YoY growth in services business and 20% plus growth for design-led manufacturing.
Further, it has guided for ~200 bps YoY improvement in consolidated Ebit margin, higher than our expectation.
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