Cyient DLM announces stellar financial performance for FY24 with PAT increase of 93%
Cyient DLM, a leader in design-led manufacturing, has reported its financial results for the fourth quarter ending March 31, 2024, showcasing a significant growth trajectory. The company has achieved a remarkable year-over-year (YoY) profit after tax (PAT) increase of 92.9%, underlining its robust operational and strategic initiatives.
Financial Highlights for Q4 and FY24
– Q4 Revenue: Cyient DLM’s revenue for the quarter stood at INR 362 crores, marking a quarterly (QoQ) increase of 12.7% and a YoY growth of 30.5%.
– Annual Revenue: For the fiscal year 2024, Cyient DLM posted a revenue of INR 1,192 crores, demonstrating a substantial YoY increase of 43.2%.
– EBITDA Performance: The company reported an EBITDA of INR 111 crores for FY24, with a margin of 9.3% and a YoY growth of 26.5%.
– Annual PAT: The PAT for FY24 reached INR 61.2 crores, nearly doubling with a YoY growth of 92.9%.
Strategic Developments and Future Outlook
Anthony Montalbano, CEO of Cyient DLM, expressed satisfaction with the fiscal year’s outcomes, attributing the success to focused enhancements in the Aerospace and Defense (A&D) sectors. “The robust growth for this year was led by Aerospace and Defense segments. Large deals in A&D constitute a major portion of our Order Book and pipeline and are expected to contribute towards FY25 & FY26 growth,” stated Montalbano.
Cyient DLM has also expanded its operational capabilities by inaugurating two new facilities: a Precision Machining facility in Bengaluru and a new Electronics Manufacturing Services (EMS) facility in Mysuru, aimed at boosting growth in the Medical and Industrial sectors.
Corporate Social Responsibility (CSR) Initiatives
Cyient DLM, through the Cyient Foundation, has actively engaged in CSR activities focusing on providing opportunities for underprivileged children and unemployed women, aiming to empower them towards a dignified life and contribute to the socio-economic development of their communities. The company has also ramped up its efforts in environmental sustainability through various Green Interventions and Conservation projects.
Looking ahead to FY25, Cyient DLM remains optimistic about its growth prospects, backed by a solid order book and strong client relationships. The company plans to expand its global footprint through strategic inorganic growth.
Cyient DLM’s exceptional financial results for FY24 reflect a strategic focus on high-growth sectors such as Aerospace and Defense, coupled with significant operational expansions and a firm commitment to corporate social responsibility. The company’s proactive approach in scaling operations and diversifying its service offerings sets a strong foundation for continued growth and market leadership in the design-led manufacturing sector.