Cyient DLM Q2 Results: Net Profit Rises to ₹32 Crore While Revenue Declines 20%

Electronic Manufacturing Services (EMS) company Cyient DLM Ltd reported its Q2 results for the quarter ending June 30, 2025, with a net profit of ₹32 crore, reflecting a 113.3% year-on-year (YoY) increase from ₹15 crore in the same period last fiscal. 

The company’s revenue from operations, however, declined 20.3% YoY to ₹310.6 crore, down from ₹389.5 crore in the corresponding quarter of the previous fiscal. This decline was largely attributed to the completion of a large defence order.

EBITDA and Operating Margins

At the operating level, EBITDA for the quarter fell slightly by 1.3% to ₹31.1 crore from ₹31.6 crore a year ago. Despite the marginal dip, the EBITDA margin improved to 10% from 8.1% in the previous year. The improvement was supported by a better business mix and enhanced supply chain efficiencies. 

The material cost ratio also benefited from a more favourable mix and cost savings in the company’s US operations. Employee and other expenses rose due to the inclusion of US operations, while depreciation and amortisation increased because of intangibles acquired from the new entity.

One-Time Gain and Normalised Profit

Other income for the quarter was higher due to a one-off earnout reversal of ₹19.6 crore, which also contributed to a lower effective tax rate (ETR) of 11.8%. Excluding this one-time gain, the normalised ETR stood at 25.8%, and the normalised profit after tax (PAT) was ₹12.6 crore. This normalised figure reflects a 68.4% sequential rise but an 18.7% decline compared to the same quarter last year.

Segment Performance Highlights

The business segments showed mixed performance. The defence vertical experienced a 90% YoY decline following the completion of a major order. Aerospace grew by 47%, while industrial and med-tech segments registered substantial increases of 256% and 114%, respectively. These results indicate a shift in revenue contribution from traditional defence orders towards diversified industrial and med-tech operations.

Cyient Stock Performance Update

On Tuesday, October 14, 2025, Cyient share price ended at ₹465.50, down ₹21.45 or 4.40% on the BSE. As of the latest trading session, Cyient share price moved within a day’s range of ₹1,148.00 to ₹1,172.05, opening at ₹1,162.15 and closing previously at ₹1,162.10. 

The stock recorded a trading volume of 20,349 shares. Over the past 52 weeks, Cyient share price has fluctuated between a low of ₹1,050.20 and a high of ₹2,111.50. The company’s market capitalisation currently stands at ₹12,909 crore, reflecting steady investor participation.

Read more: Cyient Semiconductors Partners With GlobalFoundries to Offer Turnkey ASIC and Manufacturing Services

Conclusion

While revenue showed a decline due to the completion of large defence orders, the growth in aerospace, industrial, and med-tech segments suggests a gradual shift in business mix. Improved margins and strategic diversification highlight the company’s focus on broadening its operational footprint.

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