Cyient DLM wins contract from Boeing to manufacture BDM

30 Jul 2024 , 03:25 PM

Cyient DLM reported that it has received a contract from Boeing to manufacture the battery diode module (BDM) for the 787 Dreamliner.

Boeing has granted Cyient DLM its first project for the production of power electronics and design/certification assistance for commercial aircraft, according to the business.

“Cyient DLM is ideally positioned to provide complete design, development, qualification, certification, and manufacturing support to global aerospace OEMs,” according to CEO Anthony Montalbano. He said that the contract is a key milestone for the company, demonstrating its emphasis on design and certification, as well as an increase in the share of built-to-spec items.

According to the firm, it is one of the first AS9100C aerospace-certified electronic manufacturing facilities in India, as well as the first to achieve National Aerospace and Defence Contractors Accreditation Program (NADCAP) certification for Circuit Card Assembly.

Last Monday, the company announced its results for Q1FY25, and it logged a 98.1% YoY surge in net profit to ₹10.5 Crore for the first quarter that ended June 30, 2024.

In the previous corresponding quarter, Cyient DLM reported a net profit of ₹5.3 Crore, according to a regulatory filing. Revenue from operations climbed by 18.7% to ₹257.8 Crore, up from ₹217.1 Crore in the previous fiscal period.

In Q1 of this fiscal year, EBITDA remained constant at ₹19.9 Crore. The EBITDA margin came in at 7.7% in the reporting quarter, compared to 9.2% in the previous corresponding period. EBITDA is earnings before interest, taxes, depreciation, and amortisation. 

At around 3.02 PM, Cyient DLM was trading 1.29% higher at ₹828.40, against the previous close of ₹817.85 on NSE. The counter touched an intraday high and low of ₹837, and ₹818, respectively.

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