Cyient DLM Ltd.’s shares were up by 5.58 per cent after the company inaugurated a new precision machining facility in Bangalore, with an initial capacity of 60,000 hours per annum. The facility is designed for 3x expansion, aiming to elevate the capacity to 180,000 hours annually by incorporating 20 machines.
The company reported, Specialising in CNC machining for Aviation, Space, and Ground control applications, Cyient DLM’s Precision Machining encompasses the manufacturing of structural components, engine components, avionics packages, and space components. The 36,000 sq ft manufacturing area has the potential to scale up to 250 employees with indirect employment for around 600 individuals.
Krishna Bodanapu, Executive Vice-Chairman & Managing Director, Cyient, said, “Cyient DLM is embarking on an exciting growth trajectory, and our new facility in Bengaluru represents the first step in our strategic expansion plan as an independent entity. Our focus is not only on meeting customer expectations but also on creating substantial employment opportunities, fostering a culture of innovation, and leaving a positive imprint on the local community.”
The shares were up by 5.58 per cent to ₹649.40 at 1.37 pm on the BSE.