Cyient DLM Reports 92.9% Growth in FY 2024 PAT, Share Price Up by 5.61%

On April 23, 2024, Cyient DLM released its financial results for the quarter ending March 31, 2024. The company has shown robust growth, with an increase of 92.9% in Profit After Tax (PAT).

Cyient DLM reported a revenue of ₹362 crore in Q4 FY 2024, with QoQ growth of 12.7% and YoY growth of 30.5%. The company’s revenue in FY 2024 was ₹1,192 crore, which is up by 43.2%, compared to FY 2023. Cyient DLM reported FY24 EBITDA of ₹111 crore, with a margin of 9.3% and YoY growth of 26.5%. The company’s FY 2024 PAT was ₹61.2 crore, which is up by 92.9% compared to the previous financial year.

Commenting on the results, the CEO of Cyient DLM, Anthony Montalbano, said, “Cyient DLM business focus remains on strengthening our capabilities and expanding our customer base. The robust growth for this year was led by the Aerospace and Defence (A&D) segments. Large deals in A&D constitute a major portion of the Order Book and pipeline and are expected to contribute towards FY25 & FY26 growth.”

In their exchange filing, the company stated that they have added two new logos in A&D, won key large deals in FY24 and have a strong pipeline for the future years. During the year, the company inaugurated two new units, bolstering capabilities and increasing capacity. The Precision Machining facility located in Bengaluru will cater to total demand from existing customers and will enable new opportunities and partnerships. The new EMS facility in Mysuru will focus on growth in key segments like the Industrial and Medical sectors.

The company also added that Cyient DLM received multiple awards and recognitions from governments for leading growth, from the EMS industry for advancing the field of electronics and from their top clients for excellence.

Speaking of the CSR Initiatives, they stated that the CSR activities are implemented through the Cyient Foundation. It covers underprivileged children and unemployed women by offering them equal opportunities, and empowering them towards a dignified life and socio-economic development of the community. Through the year, Cyient DLM also improved its focus on environmental sustainability through Green Interventions and Conservation projects.

Cyient DLM stated that its outlook for FY 25 continues to remain strong, and it is anticipating strong growth backed by an order book and strong relationships with essential clients. They are also planning to focus on expanding their geographic footprint worldwide through inorganic expansion.

On April 24, 2024, the share price of Cyient DLM Ltd opened at ₹725.00, which is up by ~5.61%, compared to the previous day’s close at ₹686.50.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.