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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹369 Cr
verified against source
Revenue YoY
-13.8%
reported change
EBITDA
₹43.1 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Cyient DLM reported Q4 FY26 revenue of ₹369.1 crore, down 13.8% YoY, impacted by a large order completion in FY25 and West Asia crisis disruptions. EBITDA margin remained healthy at 11.7%, though down 174 bps YoY. PAT stood at ₹22.4 crore, down 27.6% YoY. The order book reached a record ₹2,416.6 crore, with a book-to-bill ratio of 1.5x, providing strong visibility for FY27. Management highlighted sustained double-digit margins and a robust pipeline of ~$500 million. Key risks include geopolitical uncertainties, tariff overhang on US operations, and potential delays in execution due to supply chain disruptions. The company is investing in sales leadership and build-to-spec capabilities to drive future growth.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects to sustain double-digit EBITDA margins, with potential improvement from operating leverage as volumes grow.
- Management expects strong year-over-year revenue growth in all four quarters of FY27, backed by record order book and pipeline.
- Target to reduce net working capital days to 100-120 days over the next couple of years.
Risks flagged
- Supply chain delays due to West Asia crisis impacted Q4 revenue and inventory levels; risk of continued execution delays.
- Tariff overhang on US operations (Altech) creates uncertainty for cross-border synergies and margin improvement.
- Despite strong order book, revenue growth may lag if execution challenges persist or new orders convert slowly.
Key quotes
- On reflection, FI26 was a poor year on a growth perspective and I think that is a reality that stares us.
- We are increasingly winning programs that are more complex, more integrated, critical to our customers.
- We are not giving any guidance right now on the revenue side but... FA27 you'll be starting seeing the growth year-over-year growth you'll be seeing it in all the quarters.
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