Cyient DLM Ltd shares fell over 5% to Rs 466.35 as the market reacted negatively to the business’ June quarter numbers. The integrated electronic and mechanical manufacturer stated a 15.2% YoY decline in quarterly net profit at Rs 5.359 crore.

Net Sales rose 27.6% to Rs 217.15 crore YoY. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) soared 72.6% to Rs 20 crore. According to the regulatory filing, finance costs surged amid higher borrowings and interest rates. While other income was lower YoY amid unrealised forex gain in FY23.

In segment-wise performance, Aerospace and Defence zooms 22% and 12%, aided by Make In India initiatives and offsets. The Industrial Segment chronicled YoY growth of 75%, while the Med Tech business recorded de-growth of 14% YoY amid lower demand in the COVID-related industry.

The Printed Circuit Board Assembly (PCBA) business is prominent across all industry segments. Both the PCBA and Cables saw substantial growth of over 60% YoY. However, the Box-build revenue slides by 23% due to seasonal factors. The “Others” category comprises Precision Machining Revenue, accounting for 2% of the business share.

The company’s export saw higher demand in the Industrial and Aerospace segments, contributing to a higher export share of 69%, which includes Deemed exports of 13%.

Cyient DLM shares had a blockbuster listing on Dalal Street, opening at Rs 401, a 51% premium to Rs 263.