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Informist, Monday, Oct. 19, 2026

 

By Sharveya Parasnis

 

MUMBAI – Cyient Ltd. is expected to report healthy sequential growth in its consolidated net profit for the September quarter despite a modest increase in net sales. Brokerage estimates point to higher contributions from the aerospace vertical, growth across other divisions, and the consolidation of TAO Digital, a company Cyient acquired earlier this year.

 

Cyient is expected to post a net profit of INR 1.53 billion for the September quarter, up over 47% sequentially, according to the average of estimates from seven brokerages. The highest estimate is INR 1.82 billion from HDFC Securities Ltd. while the lowest is INR 1.15 billion from Emkay Global Financial Services Ltd.

 

Cyient's net sales are expected to be INR 21.8 billion, up 5% on quarter, according to the average of estimates. The highest estimate is INR 22.12 billion from Emkay Global Financial Services while the lowest estimate is INR 21.2 billion from Indsec Securities and Finance Ltd.

 

Emkay expects the company's September quarter earnings to be driven by contributions from TAO Digital to the company's digital, engineering, and technology segment and from subsidiary Kinetic to the semiconductor segment. The brokerage added the transportation and mobility segment would sustain its momentum while strategic units would drive growth and offset seasonal weakness in the energy sub-segment.

The company's earnings before interest and taxes are expected to be INR 2.21 billion, according to the average of estimates from five brokerages. The highest estimate was INR 2.3 billion from Indsec Securities and Finance Ltd. while the lowest was INR 2.16 billion from Kotak Securities Ltd.

 

Equirus expects the EBIT margin to rise 9 basis points sequentially to 9.8% while Emkay expects it to decline 90 bps on quarter, largely due to a change in business mix. Axis Securities Ltd. expects the EBIT margin to grow by 154 bps sequentially, supported by currency tailwinds and operational efficiencies.

 

Six other brokerages provided estimates for Cyient's digital, engineering, and technology segment, which accounted for almost 75% of the company's revenue in the June quarter, but did not provide an estimate for the company's total revenue. The segment's net profit is expected to average INR 1.63 billion while net sales are estimated at INR 16.13 billion, up almost 5% sequentially. Cyient is an engineering and design firm specialising in product, plant, and network design.

 

Of the nine brokerage recommendations on the company available with Informist, four have a hold rating on the stock at an average target price of INR 1,085, which is almost 8% lower than the current market price. Three have a "buy" call on the stock at an average target price of INR 1,081 while and two have a "sell" rating at an average target price of INR 820.

 

Cyient shares ended Monday at INR 1172.40 on the National Stock Exchange, down almost 2%. The share price is up almost 40% since the company reported its June quarter earnings on Jul. 24.

 

The following are the Jul-Sept earnings estimates for Cyient Ltd. from seven brokerages in descending order of net profit, in INR billion:

 

Brokerage	Net Profit	Net Sales	EBIT
HDFC Securities Ltd.	1.82	22.08	NA
Prabhudas Lilladher Pvt. Ltd.	1.70	21.90	2.20
Axis Securities Ltd.	1.65	21.33	2.25
Kotak Securities Ltd.	1.55	22.08	2.16
Indsec Securities and Finance Ltd.	1.50	21.20	2.30
Equirus Securities Pvt Ltd.	1.37	21.89	2.14
Emkay Global Financial Services Ltd.	1.15	22.12	NA
Average	1.53	21.8	2.21

 

End

 

Edited by Megha Rawat

 

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