Cyient DLM Ltd
NSE:CYIENTDLM
Cyient DLM Ltd
Cyient DLM Ltd. engages in providing total electronic manufacturing solutions. The company is headquartered in Mysore, Karnataka and currently employs 634 full-time employees. The company went IPO on 2023-07-10. The Company’s geographical segments include Domestic (Within India) and Overseas (Outside India). Its electronic manufacturing services are provided as build to print (B2P) and build to specification (B2S) services for its clients. Its B2P solutions involve its clients providing the design for the product for which it provides agile and flexible manufacturing services. Its B2S services involve utilizing its promoters design capabilities to design the relevant product based on the specifications provided by the client and manufacturing the product. Its solutions primarily comprise printed circuit board (PCB) assembly (PCBA), cable harnesses, and box buildings, which are used in safety critical systems such as cockpits, inflight systems, landing systems, and medical diagnostic equipment. The company serves various industries, such as aerospace and defense, industrial, and automotive.
Cyient DLM Ltd. engages in providing total electronic manufacturing solutions. The company is headquartered in Mysore, Karnataka and currently employs 634 full-time employees. The company went IPO on 2023-07-10. The Company’s geographical segments include Domestic (Within India) and Overseas (Outside India). Its electronic manufacturing services are provided as build to print (B2P) and build to specification (B2S) services for its clients. Its B2P solutions involve its clients providing the design for the product for which it provides agile and flexible manufacturing services. Its B2S services involve utilizing its promoters design capabilities to design the relevant product based on the specifications provided by the client and manufacturing the product. Its solutions primarily comprise printed circuit board (PCB) assembly (PCBA), cable harnesses, and box buildings, which are used in safety critical systems such as cockpits, inflight systems, landing systems, and medical diagnostic equipment. The company serves various industries, such as aerospace and defense, industrial, and automotive.
Revenue Decline: Q3 revenue fell 31.7% year-over-year to INR 3,033 million, mainly due to the completion of a large cyclical order.
Margin Strength: Normalized EBITDA margin improved to 10.2%, up 207 bps YoY, supported by a favorable revenue mix and operational efficiency.
Healthy Order Book: Order book rose to INR 23.5 billion, with a YTD book-to-bill ratio of 1.56, indicating strong revenue visibility.
Positive Outlook: Management expects both sequential and year-over-year revenue growth in Q4, with FY '27 set for significant improvement.
Diversified Growth: Order intake is increasingly driven by new customers in aerospace, industrial, and medical sectors, not just defense.
Tariff Impact Managed: Tariff-related shipment delays in Q3 are being addressed, and customers are adopting solutions to reduce tariff burdens.
Margin Upside: New and existing orders are forecasted at higher margins, with further expansion expected from operating leverage as scale returns.
