Cyient DLM Limited

Cyient DLM Limited is an electronics manufacturing services (EMS) company based in Hyderabad, providing Build to Print and Build to Specification services covering the full life cycle of a product from design through build and maintenance. Its core offerings include PCB assembly, cable harnesses and box builds for safety critical applications used mainly in aerospace, defense, medical technology and industrial equipment. It is a subsidiary of Cyient Limited, a listed engineering and technology services company. The company operates manufacturing facilities that serve global original equipment manufacturers and large institutional clients, including names such as Honeywell, Thales, ABB and Bharat Electronics, along with medical diagnostics companies. Its business depends on close, long standing engineering relationships with these customers, since safety critical electronics manufacturing requires extensive qualification and certification processes. In the years leading up to its public listing the company grew its revenue steadily, supported by rising demand for defense and aerospace electronics manufacturing in India. It operates in a capital intensive, fragmented industry where order execution, supply chain reliability and customer concentration are key factors influencing growth, and it has used part of its listing proceeds to reduce debt and fund capacity expansion.

Cyient DLM raised about 259.65 crore rupees from anchor investors ahead of the public offer, with participation from institutional names including Societe Generale, BNP Paribas Arbitrage, Amansa Holdings, ICICI Prudential Mutual Fund and HDFC Mutual Fund, among others.