India's Cyient slumps most in four months after Q4 profit miss

Cyient

24/04/2026 05:53

** Shares of India's Cyient CYIE.NS down 4.4% to 893.4 rupees, biggest drop since January 2026

** The engineering, research and development firm posted a Q4 profit of 548 million rupees ($5.81 million), well below analysts' estimates of 1.64 billion rupees - data compiled by LSEG

** JP Morgan ("overweight", cuts TP to 1,100 rupees from 1,200 rupees) says margins hit by wage hikes and semiconductor losses; retains 15% EBIT margin target by Q4FY27

** Morgan Stanley ("underweight", TP:1,050) says FY27 growth and 15% margin targets look challenging in a weak macro environment

** Adds buyback and low valuations may support the stock but awaits consistent growth in the Digital Engineering and Technology business before turning constructive

** Antique Stock Broking ("buy", cuts TP to 1,100 rupees to 1,125 rupees) sees near-term risks from delayed project conversions; cuts EPS estimates by 2%-3%

** YTD stock down 16.27%

($1 = 94.2638 Indian rupees)

 (Reporting by Devika Nair in Bengaluru)

 ((Devika.MadhusudhananNair@thomsonreuters.com;))