Shares of Cyient DLM Ltd. rallied by nearly 12.5% to touch a day’s high of Rs 870 on 29 July after the company announced it won a contract from Boeing to produce the battery diode module for the 787 Dreamliner.

This is the company’s first project from Boeing, for power electronics and design/certification support for commercial aeroplanes. The company will produce the battery diode module for the Boeing 787 Dreamliner.

CEO Anthony Montalbano highlighted the contract as a major milestone, emphasizing the company’s design and certification capabilities. The project also boosts Cyient DLM’s focus on build-to-specification products.

The company is one of the first AS9100C aerospace-certified facilities and the first in India to receive NADCAP certification for circuit card assembly. During the last week, it reported a 98.1% year-over-year increase in net profit to Rs 10.5 crore for Q1, ending on 30 June 2024.

These certifications and profit growth highlight the company’s strong position and performance in the aerospace sector.

The company’s net profit for the same quarter last year was Rs 5.3 crore. Revenue from operations rose 18.7% to Rs 257.8 crore, up from Rs 217.1 crore in the previous year. The company’s improved profit and revenue reflect strong financial growth year-over-year.

EBITDA for the first quarter was Rs 19.9 crore, unchanged from the previous year, but its margin decreased to 7.7% from 9.2% in the same quarter last year.

At 3:30 PM, the shares of Cyient DLM closed 5.06% higher at Rs 815 on BSE.

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