Hyderabad : Cyient DLM, an integrated partner for design-led manufacturing, today announced its financial results for the quarter ending March 31, 2024, showing robust growth with PAT increase of 92.9%.
Financial Highlights
• Cyient DLM Q4 Revenue at INR 362 crores, with QoQ growth of 12.7% and YoY growth of 30.5%
• Cyient DLM FY24 Revenue at INR 1,192 crores, with YoY growth of 43.2%
• Cyient DLM FY24 EBITDA of INR 111 crores, with a margin of 9.3% and YoY growth of 26.5%
• Cyient DLM FY24 PAT at INR 61.2 crores, with YoY growth of 92.9%
Commenting on the results, Anthony Montalbano, CEO, Cyient DLM, said, “Cyient DLM business focus remains on strengthening our capabilities and expanding our customer base. The robust growth for this year was led by Aerospace and Defence (A&D) segments. Large deals in A&D constitute major portion of Order Book and pipeline and are expected to contribute towards FY25 & FY26 growth.”
We have added two new logos in A&D and won key large deals in FY24 and have a strong pipeline for the future years. During the year, the company inaugurated two new facilities, strengthening capabilities, and adding capacity. The Precision Machining facility in Bengaluru will cater to incremental demand from existing customers and will enable new opportunities and partnerships. The new EMS facility in Mysuru, to focus on growth in key segments like Medical and Industrial sectors.
Cyient DLM received multiple awards and recognitions from our top clients for excellence, from governments for leading growth, and from the EMS industry for advancing the field of electronics. We were awarded the Supplier Excellence Award by Honeywell Aerospace, a leading provider of aerospace systems, products, and services. We received the 2024 National Export Excellence Award from ESC for exports in the electronics manufacturing sector for performance during 2022-23. We were recognized as the “Best Performer – Electronic Hardware Exports Tier 2 and Tier 3 region” at the STPI IT Exports Award 2023. IPC acknowledged Cyient DLM as a top Indian company significantly contributing to the industry’s mission of enhancing quality and advancing the field of electronics.
Cyient DLM’s CSR Activities, implemented through Cyient Foundation, covered the underprivileged children and unemployed women by providing equal opportunities, empowering them towards a dignified life and socio-economic development of the community. Through the year, Cyient DLM also increased focus on environmental sustainability through Green Interventions and Conservation projects.
Our outlook for FY 25 continues to remain strong, we expect strong growth backed by order book and strong relationships with our key clients. Our focus will be on expanding our geographic footprint globally through inorganic expansion.
