Anthony Montalbano, CEO of Cyient Design Led Manufacturing (Cyient DLM), expects the company to achieve 40% revenue growth for FY24.

In an interview with CNBC-TV18, Montalbano also hinted at potential inorganic growth avenues, suggesting that mergers, acquisitions, or partnerships might be on the horizon. “All our numbers are organic, that we are putting out. So inorganic would add to that,” Montalbano stated.

Cyient DLM, a subsidiary of the renowned global engineering and technology solutions company, Cyient, specializes in design-led manufacturing solutions for industries ranging from aerospace and defense to transportation and energy.

In the second quarter of the current financial year (FY24), Cyient DLM's profits more than doubled to Rs 14.6 crore from Rs 7.1 crore last year. For the half year ended September 2023, the company's net profit was Rs 20.12 crore, almost 50% higher than the year-ago period.

Cyient DLM made its debut on the bourses in July this year. The shares were listed at a 52% premium at Rs 403 a piece on the National Stock Exchange (NSE). The IPO issue price was Rs 265.

For more details, watch the accompanying video

Also, catch all the live updates on markets with CNBC-TV18.com's blog

(Edited by : Shweta Mungre)

First Published:Oct 17, 2023 1:03 PM IST