Cyient DLM concluded FY26 with a robust order book of ₹24,166 million, marking its highest level in ten quarters. While annual revenue faced challenges from the completion of a major contract in FY25, the company maintained double-digit EBITDA margins of 10.3%. Management highlighted significant traction in automotive and semiconductor equipment manufacturing, alongside a 1.5x order intake relative to annual revenues, signaling strong growth momentum entering the next fiscal year.
FY26 Financial Summary
For the financial year ended March 31, 2026, Cyient DLM reported annual revenues of ₹12,615 million. The company achieved a normalized EBITDA of ₹1,302 million, reflecting an EBITDA margin of 10.3%. Despite subdued top-line growth compared to the previous year, the company demonstrated disciplined cost management and an improved product mix. The reported PAT stood at ₹733 million, showcasing a 7.7% year-over-year increase.
Quarterly Performance Insights
In the final quarter (Q4 FY26), Cyient DLM recorded revenue of ₹3,691 million with an EBITDA of ₹431 million. The company saw a steady sequential growth in its order book, which grew by 15% quarter-on-quarter, underpinned by a consistent Book-to-Bill ratio of 1.2. Both EBITDA and PAT for the fourth quarter reached their highest levels over the past four quarters.
Strategic Growth Milestones
The company continues to advance its ‘Strengthen, Expand, and Transform’ (SET) strategy. Key operational highlights include:
- Automotive Sector: Successfully cleared the IATF audit and commenced series supply for automotive product lines.
- Semiconductor Equipment: Initiated series production for a key account, paving the way for broader opportunities in the sector.
- Global Recognition: Secured accolades at the Global Electronics Association (IEMI 2026) event.
- Order Intake: Achieved a record order intake amounting to 1.5 times the FY26 revenue, demonstrating strong market demand.
Operational Outlook
Cyient DLM remains focused on scaling its AI Infrastructure and defense capabilities. Strategic initiatives for the 2027-2029 period emphasize vertical integration in cables, sheet metal, and machining, alongside exploring potential M&A activities in the European defense sector. The company has fully utilized its IPO proceeds of ₹6,631 million across various growth and capital expenditure objectives, reinforcing its commitment to operational excellence.
Source: BSE
