ER&D firm soars 5% after HDFC MF increases stake; up 165% in three months: Cyient DLM share price

HDFC MF increased its stake after Morgan Stanley sold around 4.34 lakh shares of Cyient DLM for Rs 29 crore. 

Cyient DLM is a subsidiary of parent Cyient and offers comprehensive electronic manufacturing solutions across medical, industrial, automotive, telecommunications, defence, and aerospace sectors. Additionally, it provides machining services for components used in aerospace, automotive, and defence industries. 

Cyient DLM Q1FY25 financial show

Cyient DLM reported a net profit surge of 97.76 per cent, reaching Rs 10.6 crore in Q1FY25, alongside an 18.76 per cent increase in revenue from operations to Rs 257.89 crore compared to Q1FY24. Profit before tax also saw a rise of 102.72 per cent, totaling Rs 14.16 crore, up from Rs 6.99 crore in the same period last year.

Earnings before interest tax, depreciation and amortisation (Ebitda) remained unchanged at Rs 20 crore for the June quarter compared to Q1FY24, but the Ebitda margin decreased to 7.8 per cent from 9.2 per cent in the same quarter of the previous fiscal year.

Cyient DLM share price history

Cyient DLM was listed on the Indian bourses – BSE and NSE on July 10, 2023. The company has delivered a whopping 165.6 per cent return to the investors when compared with its issue price of Rs 265

Its shares are trading at price to earnings valuation of 79.79 times, while having an earning per share of Rs 8.39. The company has a total market capitalization of Rs 5,538.74 crore. 

At 10:19 AM,  Cyient DLM’s stock price rose 4.26 per cent to Rs 697.60 per share on the BSE. By comparison, the BSE’s Sensex was up 0.03 per cent at 84,328.99 level. 

First Published: Oct 01 2024 | 10:26 AM IST