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Business News/ Markets / Stock Markets/  Cyient DLM share price surges over 13% after Q4 PAT jumps 81% YoY
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Cyient DLM share price surges over 13% after Q4 PAT jumps 81% YoY

Cyient DLM share price hit its 52-week high of ₹882.90 on February 26 this year and its 52-week low of ₹401 on July 10 last year. At the current market price of ₹779.55, Cyient DLM share price has soared 94.4 per cent from its 52-week low level.

Cyient DLM share price has soared 94.4 per cent from its 52-week low level. (Agencies)Premium
Cyient DLM share price has soared 94.4 per cent from its 52-week low level. (Agencies)

Cyient DLM share price surged as much as over 13 per cent in early trade on BSE on Wednesday, April 24, a day after the company reported its March quarter result.

Cyient DLM share price opened at 736 against its previous close of 687.35 and soon jumped as much as 13.4 per cent to the level of 779.55 on the BSE. Around 9:30 am, Cyient DLM share price traded 11.15 per cent higher at 764 apiece. Equity benchmark Sensex was 0.25 per cent up at that time.

After market hours on Tuesday, April 23, Cyient DLM said its consolidated net profit for the March quarter (Q4) of the last financial year (FY24) jumped 80.7 per cent year-on-year (YoY) to 22.7 crore. In the same quarter last year, the company's net profit was 12.6 crore.

Revenue from operations for the quarter under review came at 362 crore, up 30 per cent YoY from 277.4 crore in the corresponding quarter last year.

The company's revenue for the entire financial year 2023-2024 came at 1,192 crore, registering a YoY growth of 43.2 per cent while PAT (profit after tax) for the year surged 92.9 per cent to 61.2 crore.

Also Read: Cyient DLM Q4 results: Net profit rises 80.7% YoY to 22.7 crore, revenue comes in at 362 crore

“Cyient DLM business focus remains on strengthening our capabilities and expanding our customer base. The robust growth for this year was led by the aerospace and defence (A&D) segments. Large deals in A&D constitute the major portion of the order book and pipeline and are expected to contribute towards FY25 and FY26 growth," said Anthony Montalbano, CEO, Cyient DLM.

Cyient DLM share price hit its 52-week high of 882.90 on February 26 this year and its 52-week low of 401 on July 10 last year. At the current market price of 779.55, Cyient DLM share price has soared 94.4 per cent from its 52-week low level.

Brokerage firm JM Financial maintained a buy call on the stock but trimmed the target price to 887 from 925 earlier.

JM Financial said Cyient DLM's Q4FY24 numbers were broadly in line with its estimates and it remains positive on the stock due to the addition of new logos, global tailwinds and increased offering of value-added services positively impacting the revenue.

Moreover, the brokerage firm pointed out that the margin expansion led by a change in the mix – increasing share from higher margin segments and customers and a higher share of export, is another positive factor.

The brokerage firm believes inorganic expansion is on the cards as the company is yet to utilise IPO proceeds.

Jm Financial expects revenue, EBITDA and PAT CAGR of 31 per cent, 43 per cent and 60 per cent, respectively, over FY24-26E with OPM of 9.6 per cent, 11.1 per cent in FY25E and FY26E and revised YoY earnings growth of 63 per cent and 57 per cent in FY25E and FY26E respectively.

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Published: 24 Apr 2024, 09:26 AM IST
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