Cyient DLM Q3 Profit Rises, Margins Widen Despite Revenue Drop; M&A, Labour Code Impact

• Cyient DLM reported a 2.7% YoY increase in net profit to ₹11.2 crore in Q3, despite a significant 31.7% fall in revenue to ₹303.3 crore.
• EBITDA declined 3.3% to ₹27.3 crore, but the EBITDA margin improved to 9% from 6.3% due to a better mix, improved supply chain, and efficiency gains.
• The defence segment saw an 88% YoY degrowth due to a large order completion, while aerospace grew by 12%. Industrial and med-tech segments also showed strong growth.
• One-off M&A costs of ₹1.78 crore and a new wage code impact of ₹1.64 crore affected normalized EBITDA and employee costs.
• Shares of Cyient DLM Ltd closed down 4.67% at ₹366.75 on the BSE following the results.

Why It Matters: Cyient DLM's Q3 saw profit and margins improve despite revenue decline, impacted by one-off costs.