Order Book
₹2,416.6 crore
+27% YoY
Highest order book in last 10 quarters, providing strong revenue visibility for FY27.
CYIENTDLM
Other
15 May 2025
Cyient DLM Limited — Q4 FY26
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.
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
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.
Key Numbers
Book-to-Bill Ratio
1.5x
+0.3x YoY
Consistent quarterly book-to-bill >1x, indicating sustained demand momentum.
Order Intake
$28 million
+40% YoY
Full-year order intake of $28M, driven by strong traction across key segments.
Sales Pipeline
~$500 million
N/A
Management disclosed a pipeline of ~$500M, reflecting strong future order potential.
Management Guidance
Double-digit EBITDA margin sustainability
Management expects to sustain double-digit EBITDA margins, with potential improvement from operating leverage as volumes grow.
Management guidance marginsStrong FY27 revenue growth expected
Management expects strong year-over-year revenue growth in all four quarters of FY27, backed by record order book and pipeline.
Management guidance revenueWorking capital improvement target
Target to reduce net working capital days to 100-120 days over the next couple of years.
Management guidance otherKey Risks
West Asia crisis disruption
Supply chain delays due to West Asia crisis impacted Q4 revenue and inventory levels; risk of continued execution delays.
high · management_commentaryUS tariff uncertainty on Altech
Tariff overhang on US operations (Altech) creates uncertainty for cross-border synergies and margin improvement.
medium · analyst_questionRevenue growth below expectations
Despite strong order book, revenue growth may lag if execution challenges persist or new orders convert slowly.
medium · data_observationNotable 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.
Frequently Asked Questions
What was Cyient DLM's revenue in Q4 FY26?
Cyient DLM reported revenue of ₹369 Cr in Q4 FY26, representing a -13.8% change compared to the same quarter last year.
What guidance did Cyient DLM management give for FY27?
Double-digit EBITDA margin sustainability: Management expects to sustain double-digit EBITDA margins, with potential improvement from operating leverage as volumes grow. Strong FY27 revenue growth expected: Management expects strong year-over-year revenue growth in all four quarters of FY27, backed by record order book and pipeline. Working capital improvement target: Target to reduce net working capital days to 100-120 days over the next couple of years.
What are the key risks for Cyient DLM in FY27?
Key risks include West Asia crisis disruption — Supply chain delays due to West Asia crisis impacted Q4 revenue and inventory levels; risk of continued execution delays.; US tariff uncertainty on Altech — Tariff overhang on US operations (Altech) creates uncertainty for cross-border synergies and margin improvement.; Revenue growth below expectations — Despite strong order book, revenue growth may lag if execution challenges persist or new orders convert slowly..
Did Cyient DLM meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Cyient DLM Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.