Cyient DLM

April 30 (Reuters) - Cyient DLM Ltd CYIT.NS:

• CYIENT DLM LTD - MUJEEB RAHIMAN RESIGNS AS VICE PRESIDENT & HEAD OF OPERATIONS INDIA

Further company coverage: CYIT.NS

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April 21 (Reuters) - Cyient DLM Ltd CYIT.NS:

• CYIENT DLM MARCH-QUARTER CONSOL NET PROFIT 224.4 MILLION RUPEES

• CYIENT DLM MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 3.69 BILLION RUPEES

Further company coverage: CYIT.NS

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** India's electronics manufacturing services (EMS) sector growth story remains intact despite a sharp 8%–35% correction in recent months, J.P. Morgan says

** In the sector, all stocks except Dixon Technologies Ltd DIXO.NS are expected to deliver 20%–25% revenue growth over FY26–28E, analysts at J.P. Morgan say

** See evidence of the sector upping value addition, evolving from finished product assembly to component and PCB manufacturing - JPM

** Syrma SGS Technology Ltd SYRM.NS remains J.P. Morgan's top pick in the sector, followed by Dixon

** Says with high conviction on revenue path, valuation discount and consumer electronics upcycle, see Syrma as the best risk-reward among the EMS names

** YTD, DIXO down 14.5%, KAYN down ~10% and SYRM up about 2%

(Reporting by Brijesh Patel in Bengaluru)

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** Shares of integrated electronics manufacturer Cyient DLM CYIT.NS fall as much as 4%; Last down almost 2% at 359.6 rupees

** Q3 consol revenue from ops falls nearly 32%; net profit rises 2.2%

** J.P. Morgan ("neutral"; lowers PT to 400 rupees from 450 rupees) says revenue missed view sharply due to tariff uncertainty that led clients to halt projects

** Stock rated "buy" on average by nine analysts, median PT at 451 rupees - data compiled by LSEG

**Stock fell nearly 38% in 2025

(Reporting by Mridula Kumar in Bengaluru)

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Jan 20 (Reuters) - Cyient DLM Ltd CYIT.NS:

• CYIENT DLM DEC-QUARTER CONSOL NET PROFIT 112.3 MILLION RUPEES

• CYIENT DLM DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 3.03 BILLION RUPEES

Source text: ID:nnAZN4S1DTS

Further company coverage: CYIT.NS

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** Cyient DLM CYIT.NS falls ~5% to 445.55 rupees, set for second consecutive session of losses

** Integrated electronics manufacturer's Q2 revenue and profit drop y/y

** Choice Institutional Equities downgrades to "sell", reduces price-to-earnings multiple to 15x from 20x on declining confidence

** Nearly 450,000 shares change hands on the day, ~1.5x of 30-day avg daily volume

** Analysts on avg rate CYIT "buy"; median PT at 532 rupees, per data compiled by LSEG

** YTD, stock down 33.4%

(Reporting by Vivek Kumar M)

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Updates

** Defence stocks .NIFTYINDDEFENCE up 0.7%, extending Friday's gains, after India unveiled a new framework to streamline, simplify and rationalise procurement processes for armed forces

** Defence minister on Sunday approved Defence Procurement Manual (DPM), outlining key rules and procedures for all revenue procurements covering an estimated 1 trillion rupees ($11.34 billion) for current FY

** A 0.1% delay penalty will apply after prototype development, with a cap of 5%, rising to 10% only for major delays; no levies in development phase

** "The DPM is a structural positive for the defence sector as it simplifies procurement, reduces execution risks and ensures faster order flow," says ICICI Securities

** 13 out of the 18 constituents on the sub-index trading in the green, led by Paras Defence PRAF.NS, up 4.5%

** Cochin Shipyard COCH.NS, Astra Micro ASTM.NS and Cyient DLM CYIT.NS up ~2% each

** YTD, defence stocks up 24%, outperforming 6% climb in Nifty 50 .NSEI

($1 = 88.1710 Indian rupees)

(Reporting by Urvi Dugar and Bharath Rajeswaran)

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** Shares of integrated electronics manufacturer Cyient DLM CYIT.NS slide 7.2% to 446.3 rupees

** Stock set for worst session since January 22, if losses hold

** Co's Q1 profit after tax fell ~30% y/y

** Says bottomline was hit due to lower other income and non-cash M&A costs not present last year

** Rev up 8% y/y

** With session's losses, stock down 28% so far this year

(Reporting by Yagnoseni Das in Bengaluru)

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** Shares of integrated electronics manufacturer Cyient DLM CYIT.NS up 3.3% to 497.6 rupees

** Co's Q4 profit after tax rises 36.5% y/y on operational efficiency, higher revenue from aerospace customers; revenue up 18.3%

** Stock on track for seventh straight session of gains

** With session's gains, stock trims 12-month decline to 27.9%

(Reporting by Ananta Agarwal in Bengaluru)

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April 22 (Reuters) - Cyient DLM Ltd CYIT.NS:

• CYIENT DLM MARCH-QUARTER CONSOL NET PROFIT 310.4 MILLION RUPEES

• CYIENT DLM MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 4.28 BILLION RUPEES

Source text: ID:nNSE5GbMK3

Further company coverage: CYIT.NS

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** Shares of Cyient DLM CYIT.NS jump 5.5% to 449.9 rupees

** Electronics manufacturing services co partnerswith German aircraft manufacturer Deutsche Aircraft

** Under the partnership, Cyient DLM will design, develop and manufacture cabin management system for Deutsche Aircraft

** Still, stock is down 33.5% so far in 2025 mainly after a slump in Q3 profit

(Reporting by Nishit Navin)

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April 10 (Reuters) - Cyient DLM Ltd CYIT.NS:

• CYIENT DLM LTD - EXPANDS STRATEGIC PARTNERSHIP WITH DEUTSCHE AIRCRAFT

• CYIENT DLM LTD - TO DESIGN AND MANUFACTURE CABIN MANAGEMENT SYSTEM FOR D328ECO

Source text: ID:nBSE84gTGC

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Feb 17 (Reuters) - Cyient DLM Ltd CYIT.NS:

• SECURES LONG-TERM AVIONICS MANUFACTURING AWARD FROM THALES

• TO MANUFACTURE PCBAS FOR THALES'S NEXT-GEN FLIGHT AVIONICS

Source text: ID:nNSE6LrTGk

Further company coverage: CYIT.NS

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Feb 11 (Reuters) - Cyient DLM Ltd CYIT.NS:

• SECURES PRODUCTION CONTRACT WITH BOEING

• AWARDED PRECISION MACHINING PROJECT BY BOEING GLOBAL SERVICES

Source text: ID:nBSE5m1fRZ

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Jan 23 (Reuters) - Indian engineering and technology firm Cyient CYIE.NS reported a third-quarter profit below analysts' expectations on Thursday, hurt by slower growth in its biggest segment and higher costs.

Its profit declined to 1.22 billion rupees ($14.12 million) for the three months ended Dec. 31, from 1.47 billion rupees a year ago. Analysts had expected 1.71 billion rupees, according to data compiled by LSEG.

Growth in Cyient's transportation division — which contributes 30% to the company's biggest unit, digital, engineering and technology — has eased over the past few quarters due to delays in project starts in the aerospace segment and slowdown in the rail segment.

The downbeat results also echo those of peer engineering, research and design companies (ER&D) Tata Elxsi TTEX.NS and L&T Technology Services LTEH.NS.

ER&D services, which include providing technology support to industries such as aerospace, telecom and automotive, contribute a sixth of the revenue to India's $254-billion technology sector.

Cyient's total expenses rose 9% during the quarter, led by a 26% jump in its cost of materials consumed and a 6% rise in employee expenses.

Revenue from the company's digital, engineering and technology segment, which contributes more than 76% to its total revenue — fell 1%.

Its smaller design-led manufacturing business, Cyient DLM CYIT.NS, posted a 38% rise in revenue.

Cyient's total revenue rose 5.7% to 19.26 billion rupees, beating analysts' estimates.

($1 = 86.4040 Indian rupees)

(Reporting by Aleef Jahan)

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** Shares of electronics manufacturing services company Cyient DLM CYIT.NS fall as much as 12.5% to 521.50 rupees, lowest since Aug. 21, 2023

** CYIT on Tuesday reported 40.4% Y/Y fall in Q3 consol net profit

** While rev from ops rose 38.4% Y/Y, total expenses jumped 42.7% Y/Y led by higher input cost

** Stock witnessing its most active trading session since Nov. 6, 2024, with more than 658,000 shares changing hands, 3.6x of 30-day avg

** Avg rating of six analysts equivalent of "buy", median PT is 831 rupees - LSEG data

** Stock ended down 0.8% in 2024

(Reporting by Ashish Chandra in Bengaluru)

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Jan 21 (Reuters) - Cyient DLM Ltd CYIT.NS:

• DEC-QUARTER CONSOL NET PROFIT 109.9 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 4.44 BILLION RUPEES

Source text: ID:nBSE2QVxz9

Further company coverage: CYIT.NS

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Dec 4 (Reuters) - Cyient DLM Ltd CYIT.NS:

• CYIENT DLM AND ARCEDO SYSTEMS SIGN MOU

• SIGNS MOU WITH ARCEDO SYSTEMS FOR 500 KWP SOLAR PLANT

• MOU TO ESTABLISH 500 KWP SOLAR POWER PLANT AT MYSORE FACILITY

Source text: ID:nBSEggRdy

Further company coverage: CYIT.NS

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Nov 6 (Reuters) - Cyient DLM Ltd CYIT.NS:

• WINS LONG TERM DEAL WITH HONEYWELL AEROSPACE TECHNOLOGIES

• WINS DEAL WITH HONEYWELL AEROSPACE TECHNOLOGIES FOR AIRCRAFT COOLING TECHNOLOGY

Source text: ID:nnAPN2DGB7M

Further company coverage: CYIT.NS

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** Shares of electronics manufacturing services company Cyient DLM CYIT.NS shed 4.62% after reporting Q2 profit below estimates

** PAT rose 5.5% to 154.54 mln rupees, below analysts' mean estimate of 218 mln rupees - LSEG data

** PAT missed estimates due to higher interest cost, according to Motilal Oswal

** Core profit margins nearly flat Y/Y at 8.12% compared to 8.07% a year ago

** Order book fell 13% Y/Y to 19.79 bln rupees in Q2, marking the third consecutive quarter of decline

** Brokerage factors in a higher-than-anticipated interest cost in the ongoing fiscal year due to a rise in debt

** Cuts FY25 earnings estimates by 5% and says Middle East conflict is impacting the supply chain

** CYIT shares down 1.3% in 2024 so far

(Reporting by Bharath Rajeswaran in Bengaluru)

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Oct 3 (Reuters) - Cyient DLM Ltd CYIT.NS:

• APPROVED ACQUISITION OF AN US ENTITY THROUGH CYIENT DLM INC

Source text for Eikon: ID:nBSERNsfy

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Aug 20 (Reuters) - Cyient Ltd CYIE.NS:

• APPROVED SALE OF UP TO 14.5% OF STAKE OF UNIT CYIENT DLM

• STAKE SALE VIA BLOCK DEAL WINDOW

Source text for Eikon: ID:nBSE6TPf7T

Further company coverage: CYIE.NS

(Reporting by VijayDattaram Malkar)

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** Shares of Cyient DLM CYIT.NS rise as much as 13.6% to 780 rupees, logs biggest intraday pct gain since Sept. 5

** Electrical components and equipment maker said on Tuesday its fourth-qtr consolidated net profit jumped ~81% y/y to 227.4 mln rupees ($2.7 million) on sales growth in aerospace and defence segments

** More than 3 mln shares change hands as of 11:45 a.m. IST, 16.7x its 30-day avg

** Avg rating of five analysts covering the stock is "buy"; median PT is 840 rupees - LSEG data

** Stock up ~2% so far in April

($1 = 83.2925 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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March 7 (Reuters) - Cyient DLM Ltd CYIT.NS:

• CYIENT DLM INC INCORPORATED UNDER GENERAL CORPORATION LAW OF STATE OF DELAWARE, USA AS UNIT

Further company coverage: CYIT.NS

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Jan 23 (Reuters) - Cyient DLM Ltd CYIT.NS:

• DEC-QUARTER NET PROFIT 184.4 MILLION RUPEES VERSUS PROFIT 57.2 MILLION RUPEES

• DEC-QUARTER REVENUE FROM OPERATIONS 3.21 BILLION RUPEES VERSUS 2.14 BILLION RUPEES

Source text for Eikon: ID:nBSEbKL55B

Further company coverage: CYIT.NS

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Nov 16 (Reuters) - Cyient DLM Ltd CYIT.NS:

• SIGNED LETTER OF INTENT WITH THALES

• CYIENT SIGNED LETTER OF INTENT WITH THALES

Source text for Eikon: ID:nBSESx7Qx

Further company coverage: CYIT.NS

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** Shares of Cyient DLM CYIT.NS up as much as 7.3% to 739 rupees

** Integrated electronics manufacturing services co posts over two-fold rise in Sept-qtr net profit to 146.5 mln rupees ($1.8 mln); rev from ops up ~72% YoY

** CYIT on track to rise for second straight session, if gains hold

** Over 281,000 shares change hands as of 09:20 a.m. IST, 0.7x the 30-day moving average

** Including day's move, stock up ~74% since its listing on July 10

($1 = 83.2140 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru)

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Oct 16 (Reuters) - Cyient DLM Ltd CYIT.NS:

• SEPT-QUARTER NET PROFIT 146.5 MILLION RUPEES VERSUS 71 MILLION RUPEES

• SEPT-QUARTER REVENUE FROM OPERATIONS 2.92 BILLION RUPEES VERSUS 1.70 BILLION RUPEES

Source text for Eikon: ID:nBSEZ47X7

Further company coverage: CYIT.NS

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** Brokerage InCred Equities says Indian biofuels, shipping and electronics makers can benefit from the conflict in Middle East

** Says rising oil prices a positive for petrol and diesel substitutes like ethanol, biodiesel, biogas

** Names BCL Industries BCLN.NS, Kotyark Industries KOTY.NS and Adani Ports APSE.NS as beneficiaries

** Says while APSE's Haifa port is threatened, unit Indian Oil Adani Ventures has a large compressed biogas plant

** InCred says suppliers of parts for Israeli defence manufacturers also likely to see an uptick in business

** Says "add"-rated Cyient CYIT.NS makes printed circuit boards for Israeli firms like Rafael and Israel Aerospace Industry (IAI)

(Reporting by Varun Vyas in Bengaluru)

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Changes sourcing in the headline, paragraph 1; adds interim-MD, CEO appointment in paragraph 3

By M. Sriram

NEW DELHI, Sept 15 (Reuters) - The co-CEO of Axis Bank's AXBK.NS investment banking unit Axis Capital, Chirag Negandhi, has resigned, according to an internal memo seen by Reuters on Friday.

The investment bank will likely tap an outside candidate for Negandhi's role, two sources with direct knowledge of the matter told Reuters.

Axis Capital named another co-Chief Executive Salil Pitale as the interim managing director and CEO, as per the memo.

Negandhi spent more than 13 years at the Axis' investment banking unit and would continue for three more months, the source added.

His departure was communicated internally on Friday, the first source said.

Axis Capital, one of the country's biggest investment banking firms, has been a part of some successful initial public offerings over the past year, including Cyient DLM CYIT.NS, Mankind Pharma MNKI.NS and Bikaji Foods BIKA.NS.

Axis Capital did not immediately respond to a Reuters request for comment. Negandhi declined to comment.

(Reporting by Sriram Mani; Writing by Tanvi Mehta and Sethuraman NR; Editing by Shweta Agarwal)

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