Cyient DLM share price rallies over 12% to hit 11-week high on 36.5% jump in Q4 net profit

Cyient share price today: Shares of Cyient DLM, the design-led manufacturing arm of Cyient, surged 12.3% in Wednesday’s early morning trade, April 23, hitting an 11-week high of ₹540 apiece after the company reported its best quarterly performance since its listing in July 2023.

The company posted a consolidated net profit of ₹31 crore in Q4FY24, a 36.5% jump as compared to a net profit of ₹22.7 crore in the same period last year, while revenue from operations rose 18.3% to ₹428 crore, compared to ₹361.8 crore a year ago, driven by strong demand in the aerospace segment.

On the operating front, the company reported an EBITDA of ₹57.3 crore, compared to ₹38 crore in Q4FY23, with the EBITDA margin expanding to 13.4% from 10.5%, reflecting operational efficiencies and a favorable revenue mix.

Segment-wise performance showed a 43% year-on-year (YoY) decline in the defense segment revenue, primarily due to lower contributions from its top customer. In contrast, the aerospace segment saw robust YoY growth of 53%, driven by other major clients.

According to the company, the acquisition of Altek significantly contributed to the YoY growth in the industrial and med-tech segments, which rose by 84% and 296%, respectively. On the product front, the PCBA business continued to maintain a strong presence across industry segments, registering a 13% YoY growth.

The Box Build segment grew by 8% YoY, while Altek’s integration fueled a 167% YoY growth in the Cable, Mechanical, and other categories. From a geographical standpoint, the Rest of the World (ROW) business share increased, supported by growing demand from aerospace and defense customers outside India.

Meanwhile, the India business mix stood at 29%, largely driven by the defense segment. Cyient DLM is a leading integrated electronics manufacturing solutions provider, offering design-led manufacturing (DLM) services to its clients.

For the full financial year (FY24), the company’s net profit improved by 11.5% YoY to ₹68 crore, while revenue from operations stood at ₹1,520 crore, compared to ₹1,192 crore in FY23.

Cyient DLM share price trend

After a steady decline, Cyient DLM’s share price has rebounded sharply in recent sessions, gaining over 35% from its April 7 low of ₹378.60. The company debuted on the secondary market in July 2023, listing at ₹420 per share against the IPO price of ₹265.

At current levels, the stock is trading 94% higher than its IPO price of ₹265 apiece. However, it remains 40% below its all-time high of ₹870, recorded in February 2024.

The company manages the entire value chain, including design, manufacturing, testing, precision machining, and certification support, to ensure customer products meet high standards of reliability, safety, and performance. It holds expertise in safety-critical electronics across highly regulated industries.

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