CyanConnode has announced a million Ominmesh module order with Montecarlo for deployment for a new end utility in the state of Maharashtra, India. Installation is due to commence in Q4 FY24 and spread over 27 months before moving into a 93 month support and maintenance contract. With more than 220m meters out of 250m now sanctioned for tender, the number of subcontractor awards is expected to pick up pace. We have upgraded the number of module deliveries in FY25 and using an assumed market share for CyanConnode of tendered volumes have brought forward module deliveries in 2026 and 2027 to reflect the speed of the roll out of the RDSS scheme. Our FY25, FY26 and FY27 revenue and PBT figures have increased accordingly. Our central case valuation has increased to 30p.
11 Jan 2024
CyanConnode - One Million Module Order
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CyanConnode - One Million Module Order
CyanConnode Holdings plc (CYAN:LON) | 11.6 0 0.0% | Mkt Cap: 41.6m
- Published:
11 Jan 2024 -
Author:
Max Campbell -
Pages:
6
CyanConnode has announced a million Ominmesh module order with Montecarlo for deployment for a new end utility in the state of Maharashtra, India. Installation is due to commence in Q4 FY24 and spread over 27 months before moving into a 93 month support and maintenance contract. With more than 220m meters out of 250m now sanctioned for tender, the number of subcontractor awards is expected to pick up pace. We have upgraded the number of module deliveries in FY25 and using an assumed market share for CyanConnode of tendered volumes have brought forward module deliveries in 2026 and 2027 to reflect the speed of the roll out of the RDSS scheme. Our FY25, FY26 and FY27 revenue and PBT figures have increased accordingly. Our central case valuation has increased to 30p.