Cyient DLM (CYIENTDLM) Q2 24/25 earnings summary

Executive summary

• Q2 FY25 revenue reached ₹3,894 Mn, up 33.4% year-over-year, with EBITDA at ₹316 Mn and PAT at ₹155 Mn, reflecting strong growth across key metrics.

• Acquisition of Altek Electronics, a US-based EMS company, expands geographic footprint and capabilities, with expected EPS accretion from FY26.

• Defense and aerospace segments posted robust YoY growth, while industrial segment saw a decline due to reduced demand from key customers.

Financial highlights

• Q2 FY25 EBITDA margin stood at 8.1%, with PAT margin at 4.0%.

• H1 FY25 revenue grew 27.2% YoY to ₹6,473 Mn; H1 EBITDA up 18.6% YoY; H1 PAT up 30.2% YoY.

• Material and employee costs increased in line with revenue growth; other expenses rose due to planned investments.

• Order backlog at ₹19,790 Mn, down sequentially.

Outlook and guidance

• Altek acquisition to contribute revenues from Q3 FY25; expected to be EPS accretive from FY26.

• Continued focus on large deals, defense sector, and expansion into new geographies and industries such as electric vehicles.