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Electronic Manufacturing Services (EMS) firm Cyient DLM Ltd on Tuesday (October 14) reported a 113.3% year-on-year (YoY) spike in net profit at ₹32 crore for the second quarter that ended June 30, 2025. In the corresponding quarter of the previous fiscal, Cyient DLM posted a net profit of ₹15 crore.
The company’s revenue from operations declined 20.3% year-on-year to ₹310.6 crore, down from ₹389.5 crore in the corresponding quarter of the previous fiscal, largely due to the completion of a large defence order.
At the operating level, EBITDA fell marginally by 1.3% to ₹31.1 crore from ₹31.6 crore a year ago. EBITDA margin improved to 10% in Q2 FY25 from 8.1% in the year-ago period, aided by a better business mix and improved supply chain efficiencies.
Also Read: Cyient DLM shares soar 8% on Q4 beat; CEO sees continued momentum into FY26
Cyient DLM said the material cost ratio improved owing to a more favourable mix and cost benefits in its US operations. The company noted an increase in employee and other expenses due to the inclusion of its US operations, while depreciation and amortisation rose on account of intangibles from the acquired entity.
Other income was higher due to a one-off earnout reversal of ₹19.6 crore, which also resulted in a lower effective tax rate (ETR) of 11.8%. Excluding the one-time gain, the normalised ETR stood at 25.8%, and the normalised PAT for the quarter was ₹12.6 crore, reflecting a 68.4% sequential rise but an 18.7% YoY decline.
In terms of business segments, the defence vertical saw a 90% YoY decline due to the large order completion, while aerospace grew 47%, and industrial and med-tech segments rose 256% and 114%, respectively.
Also Read: Cyient DLM shares fall after Q1 results, despite strong order intake
The company added two new global clients during the quarter—a Japanese eVTOL firm and an EV charging company—and reported an order intake of ₹497.7 crore, expanding its order backlog. Cyient DLM also said its pipeline includes large deals at advanced stages, with order intake for the first half of FY25 growing 130% YoY.
The results came after the close of the market hours. Shares of Cyient DLM Ltd ended at ₹465.50, down by ₹21.45 or 4.40% on the BSE.
The company’s revenue from operations declined 20.3% year-on-year to ₹310.6 crore, down from ₹389.5 crore in the corresponding quarter of the previous fiscal, largely due to the completion of a large defence order.
At the operating level, EBITDA fell marginally by 1.3% to ₹31.1 crore from ₹31.6 crore a year ago. EBITDA margin improved to 10% in Q2 FY25 from 8.1% in the year-ago period, aided by a better business mix and improved supply chain efficiencies.
Also Read: Cyient DLM shares soar 8% on Q4 beat; CEO sees continued momentum into FY26
Cyient DLM said the material cost ratio improved owing to a more favourable mix and cost benefits in its US operations. The company noted an increase in employee and other expenses due to the inclusion of its US operations, while depreciation and amortisation rose on account of intangibles from the acquired entity.
Other income was higher due to a one-off earnout reversal of ₹19.6 crore, which also resulted in a lower effective tax rate (ETR) of 11.8%. Excluding the one-time gain, the normalised ETR stood at 25.8%, and the normalised PAT for the quarter was ₹12.6 crore, reflecting a 68.4% sequential rise but an 18.7% YoY decline.
In terms of business segments, the defence vertical saw a 90% YoY decline due to the large order completion, while aerospace grew 47%, and industrial and med-tech segments rose 256% and 114%, respectively.
Also Read: Cyient DLM shares fall after Q1 results, despite strong order intake
The company added two new global clients during the quarter—a Japanese eVTOL firm and an EV charging company—and reported an order intake of ₹497.7 crore, expanding its order backlog. Cyient DLM also said its pipeline includes large deals at advanced stages, with order intake for the first half of FY25 growing 130% YoY.
The results came after the close of the market hours. Shares of Cyient DLM Ltd ended at ₹465.50, down by ₹21.45 or 4.40% on the BSE.
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