Redeye retains its positive view of Sdiptech following a Q4 report that was largely in-line with our expectations. We appreciate that Sdiptech has simplified its reporting of KPIs such as EBITA and net debt ratio to increase comparability with peers. We expect 2024 to be a year of normalization where we see decent organic growth, healthy margins and strong cash flows ahead and leave our valuation range unchanged.

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Sdiptech - 2024 a year of normalisation

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