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CyanConnode (CYAN) - 3Q22 update: smart meter s...
CyanConnode (CYAN) - 3Q22 update: smart meter s....
About this update from City Of London Investment Group Plc
[{"type":"text","content":"\n \n\n\nHardman & Co Research\n\n\n\nHardman & Co Research: CyanConnode (CYAN) - 3Q22 update: smart meter showtime in India01-Feb-2022 / 11:10 GMT/BST\n\n\nHardman & Co Research: 3Q22 update: smart meter showtime in India\n\nCyanConnode shipped 455,000 modules and 3,100 gateways in the first nine months, compared with 481,000 for the whole of FY21. 9M22 revenue came in at £6.8m, up 100% from a year earlier. £5.9m cash was received from customers, while inventory was increased to address component shortages, resulting in a £1.1m net cash position at end-December 2021 (a further £0.4m was received just after the period end). The Indian smart meter rollout is set to accelerate, with ongoing tenders for 37.4m meters due to be awarded this calendar year. This is a potentially enormous revenue opportunity, even assuming a modest contract win success rate for CyanConnode. Our DCF-implied fair equity value for CyanConnode is £89.9m.\n\nPlease click here for the full report\n\nIf you are interested in meeting the company, you can register your interest by clicking on the above link\n\n\n To contact us:\n\n Hardman & Co1 Frederick's Place\n\n London\n\n EC2R 8AE\n\n www.hardmanandco.com\n\n Follow us on Twitter @HardmanandCo\n \n \n Contact:\n\n Milan Radia\n\n +44(0)20 3693 7075\n \n \n \n\n [email protected] \n \n Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement.\n\nAbout Hardman & Co: For the past 25 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case. \n\nHardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is regi...