Electronic manufacturing services firm, Cyient DLM Limited, on Friday (May 9) announced the resignation of its Chief Executive Officer Anthony Montalbano, effective May 8, 2025. The resignation was accepted and noted by the company’s board of directors.
“…this is to inform you that Mr. Anthony Montalbano has resigned as the Chief Executive Officer of the Company on 08 May 2025. The said resignation was noted by the Board of Directors,” Cyient DLM said in a regulatory filing.
Montalbano, who led the company for the past two-and-a-half years, cited personal reasons for stepping down. In his resignation letter addressed to the board, he expressed gratitude to the employees, stakeholders, and leadership team, calling it a privilege to serve as CEO. He also assured a smooth transition during the handover period.
Also Read: Cyient DLM targets 30% revenue growth, double-digit margins next year
Following the resignation, the board has entrusted Managing Director Rajendra Velagapudi with overseeing the company’s operations with immediate effect. The company stated that Montalbano will work closely with Velagapudi over the next few weeks to ensure continuity and stability in business functions.
Healthy Q4
Cyient DLM reported a 36.5% year-on-year (YoY) increase in Q4 net profit, driven by strong revenue growth and improved margins. The company posted a consolidated net profit of ₹31 crore for the quarter ended March 31, 2025, up from ₹22.7 crore in the same period last year.
Revenue from operations rose 18.3% to ₹428 crore, compared with ₹361.8 crore a year earlier, propelled by strong demand in aerospace and defence. EBITDA surged 51.2% to ₹57.3 crore, with the EBITDA margin expanding to 13.4% from 10.5%, reflecting operational efficiencies and a favourable revenue mix.
Also Read: Cyient DLM shares soar 8% on Q4 beat; CEO sees continued momentum into FY26
Shares of Cyient DLM Ltd ended at ₹426.90, down by ₹0.70, or 0.16%, on the BSE.
(Edited by : Shoma Bhattacharjee)
