Cyient DLM shares jump over 8% post-Q2 results; here is what management said
At around 10:05 a.m., shares of Cyient DLM were trading at Rs 712.95 apiece, up 3.45 per cent or Rs 24.35.
Cyient DLM shares jumped as much as 8.6 per cent on Tuesday, October 17, to touch the day's high of Rs 748 apiece. The buying interest in the electronics manufacturing services and solutions provider's stock came after the company posted its September quarter (Q2FY24) numbers.
At around 10:05 a.m., shares of Cyient DLM were trading at Rs 712.95 apiece, up 3.45 per cent or Rs 24.35. The scrip climbed for the second session in a row, and the market capitalisation of the company stood at Rs 5,652.54 crore. The stock closed 3.8 per cent higher at Rs 1779.45 apiece on BSE.
How has Cyient DLM fared in Q2?
Cyient DLM logged a profit after tax (PAT) of Rs 14.7 crore in the quarter ending September against Rs 7.1 crore a year ago, up 107 per cent. The revenue of the company for the quarter stood at Rs 292 crore against Rs 170 crore year-on-year (YoY), which was an increase of 71.8 per cent.
The earnings before interest, tax, depreciation, and amortisation (EBITDA) stood at Rs 24 crore for Q2 against Rs 23.8 crore, up 0.8 per cent. On the flip side, the margin of the company fell from 14 per cent a year ago to 8.2 per cent in the quarter under review.
Management commentary
In an interview with Zee Business, Shrinivas Kulkarni, Chief Financial Officer, Cyient DLM Ltd., said that the company will focus on achieving double-digit margins in the future.
Further, Kulkarni said the company has multiple orders in the pipeline and has an order book of around Rs 2,280 crore.
Cyient DLM shares debuted on the bourses in July and were listed at a healthy premium of 52 per cent. Since its debut in July, shares of Cyient DLM have gained over 71 per cent.
Cyient DLM offers end-to-end (E2E) manufacturing, assembly, and repair capabilities and re-engineering services with a focus on sectors like aerospace, defence, medical, energy, railways, and other industries. The company appointed Anthony Montalbano as its CEO last year.
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