External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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Equity Bottom-Up

Dynamatic Technologies / Equity Bottom-Up

<ul><li>ICICI Direct's research report onDynamatic Technologies We initiate coverage on Dynamatic Technologies (DTL) with BUY rating and a target price of INR 10,250/share (based on 45x FY26E EPS).</li><li>Key points: 1) Sole supplier of Flap Track Beams (FTB) for Airbus’ 86% order backlog; 2) largest gear pump supplier in the world with a well-diversified client mix; 3) healthy blend of complex machining of the west and superior engineering of the east; 4) recent order wins likely to propel EBITDA to 2x FY23 by FY27E; and 5) likely to be a participant in domestic aerospace.</li><li>Going ahead, we expect aerospace &amp; defence segment to be the earnings driver, resulting in EBITDA CAGR of 19% and EBITDA margin of 17-18% (last five-year average: 13%) through to FY27E.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

ICICI Direct's research report onDynamatic Technologies We initiate coverage on Dynamatic Technologies (DTL) with BUY rating and a target price of INR 10,250/share (based on 45x FY26E EPS).Key points: 1) Sole supplier of Flap Track Beams (FTB) for Airbus’ 86% order backlog; 2) largest gear pump supplier in the world with a well-diversified client mix; 3) healthy blend of complex machining of the west and superior engineering of the east; 4) recent order wins likely to propel EBITDA to 2x FY23 by FY27E; and 5) likely to be a participant in domestic aerospace.Going ahead, we expect aerospace &amp; defence segment to be the earnings driver, resulting in EBITDA CAGR of 19% and EBITDA margin of 17-18% (last five-year average: 13%) through to FY27E.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Dynamatic Technologies - On the Runway; Set to Soar Further!

India

Dynamatic Technologies Limited manufactures hydraulic gear pumps, valves and cylinders for tractors and cars.  The Group also develops products for the aerospace and defense sectors.

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Dynamatic Technologies (DYTC IN)

Dynamatic Technologies - On the Runway; Set to Soar Further!

ICICI Direct's research report onDynamatic Technologies We initiate coverage on Dynamatic Technologies (DTL) with BUY rating and a target price of...

ICICI Securities Limited

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