Cyient DLM said that it has has signed a memorandum of understanding (MoU) with Arcedo Systems to establish a 500 kWp rooftop solar power plant at Cyient DLM's Mysore facility.
Arcedo Systems is a premier provider of integrated renewable energy solutions.
As part of this MoU, Arcedo will design, engineer, install, and maintain the solar power plant. The project will operate under a long-term power purchase agreement (PPA), where Cyient DLM will procure solar power generated at the facility.
Anthony Montalbano, CEO, Cyient DLM, stated, "At Cyient DLM, sustainability is a core pillar of our operational strategy and a key driver of our commitment to creating a positive impact on the environment.
This MoU with Arcedo Systems to establish this solar power plant is a significant step forward towards our commitment in reducing our carbon footprint and embracing renewable energy solutions.
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Cyient DLM, a subsidiary of Cyient, is one of the leading integrated electronic manufacturing services (EMS) and solutions providers with capabilities across the value chain and the entire life cycle of a product.
The company reported consolidated net profit of Rs 15.50 crore in Q2 FY25, up 5.44% as against Rs 15.50 crore posted in Q2 FY24. Revenue from operation was at Rs 389.40 crore in Q2 FY25, registering a growth of 33.44% year on year.
The scrip fell 1.69% to currently trade at Rs 698.60 on the BSE.
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