Cyient DLM Limited (CYIENTDLM) AI Stock Analysis

• Market Cap: ₹29.42B
• Dividend Yield: N/A
• Average Volume (3M): 27.32K
• Price to Earnings (P/E): 34.7
• Beta (1Y): 1.27
• Revenue Growth: 9.86%
• EPS Growth: 21.38%
• Country: IN
• Employees: 722
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 1.40
• Shares Outstanding: 79,364,395
• 10 Day Avg. Volume: 49,558
• 30 Day Avg. Volume: 27,323
• PEG Ratio: 28.30
• Price to Book (P/B): 3.86
• Price to Sales (P/S): 2.41
• P/FCF Ratio: -16.04
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 67 Neutral
• Price Target: ₹402.00 ▲(1.23% Upside)

The overall stock score of 67 reflects strong financial performance driven by revenue growth and profitability improvements. However, challenges in operational efficiency, high liabilities, and cash flow management weigh on the score. Technical analysis provides mixed signals, and the high P/E ratio suggests overvaluation, limiting the stock's attractiveness.

Positive Factors

Design-led EMS serving regulated, high-reliability sectors

Cyient DLM's focus on design-led manufacturing for aerospace, defense and medical end markets gives durable competitive advantage: high entry barriers, rigorous quality/regulatory requirements, long program cycles and aftermarket support that create stickier customer relationships and more stable contract pipelines over years.

Improved leverage and strong equity base

An increased equity share and a lower debt-to-equity ratio materially reduce financial risk and improve capital flexibility. This stronger balance-sheet footing supports investment in production capacity, certifications and working capital needed for long-cycle regulated programs without immediate reliance on external funding.

Higher gross margins and recent revenue expansion

A meaningful revenue uptick combined with a sizeable gross margin improvement suggests better mix toward higher-value engineering/system integration or improved cost control. Sustainable higher gross margins strengthen the firm's ability to fund R&D, certifications and lifecycle services that underpin long-term revenue resilience.

Negative Factors

Negative free cash flow

Persistent negative free cash flow indicates the company struggles to convert reported earnings into cash available for debt reduction, dividends or reinvestment. Over the medium term this can force reliance on external financing, raise funding costs, and constrain strategic investments in capacity or certifications.

High liabilities and weaker ROE

Elevated liabilities relative to assets increase financial leverage and interest exposure, limiting flexibility during supply‑chain or demand shocks. The drop in ROE to low single digits signals diminished capital efficiency, making it harder to generate competitive shareholder returns without operational improvements.

Declining operational efficiency (EBIT margin)

A falling EBIT margin highlights pressure on operating profitability, potentially from higher overhead, lower-margin contract mix, or inefficiencies. If unresolved, margin compression can erode the benefits of revenue growth, reduce cash generation and limit ability to invest in higher‑margin engineering services long term.

Cyient DLM Limited Business Overview & Revenue Model

Company Description

Cyient DLM Limited provides electronic manufacturing solutions in India and internationally. The company offers integrated manufacturing, electronics manufacturing, mechanical manufacturing, additive manufacturing, and value-added services. It also engages in the machining of components for aerospace, automotive, and defense industries. The company serves aerospace and defense, automotive, communications, energy, geospatial, industrial and heavy equipment, healthcare and life sciences, mining, oil and gas, power generation, rail transportation, semiconductor, and utilities industries. The company was founded in 1991 and is based in Mysuru, India. Cyient DLM Limited is a subsidiary of Cyient Limited.

How the Company Makes Money

Cyient DLM generates revenue primarily through its engineering and technology services, which involve project-based contracts, long-term partnerships, and service agreements with clients across different industries. Key revenue streams include consulting services, custom engineering solutions, and outsourcing of manufacturing processes. The company may also engage in strategic partnerships with technology providers and industry leaders to enhance its service offerings and expand its market reach. These collaborations often lead to joint ventures or co-development initiatives that contribute to additional revenue opportunities.

Cyient DLM Limited Financial Statement Overview

Summary

Cyient DLM Limited demonstrates strong revenue growth and profitability improvements, with a solid equity base. However, operational efficiency, high liabilities, and cash flow management present areas that require strategic focus. The company should prioritize improving its EBIT margins and cash flow generation to enhance its financial stability and operational efficiency.

Income Statement

Cyient DLM Limited has demonstrated robust revenue growth over the past few years, with the most recent annual revenue showing a significant increase of 27.5% compared to the previous year. The gross profit margin has improved to 27.1% from the prior year's 22.3%, indicating enhanced efficiency in managing production costs. Net profit margin also improved slightly to 4.5%. However, the EBIT margin has decreased to 6.8% from the previous year, suggesting some challenges in operational efficiency. Overall, the income statement reflects strong revenue growth, improved profitability, but slight operational efficiency concerns.

Balance Sheet

The balance sheet of Cyient DLM Limited shows a healthy equity position with a significant increase in stockholders' equity to 56.1% of total assets. The debt-to-equity ratio has improved to 0.32 from 0.21, suggesting better leverage management. However, total liabilities remain high in relation to total assets, posing potential risk. The return on equity has decreased to 7.2% from the previous year, indicating lower efficiency in generating returns from the equity. While the company maintains a stable equity base, high liabilities and declining ROE require attention.

Cash Flow

Cyient DLM Limited's cash flow statement indicates challenges with generating free cash flow, as seen by the negative free cash flow of -2.28 billion. The operating cash flow to net income ratio is negative, reflecting inefficiencies in cash generation from operations. Despite these challenges, the company has managed its capital expenditures effectively. Overall, the cash flow situation highlights significant areas for improvement in operational cash management.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	15.40B	15.20B	11.92B	8.32B	7.21B	6.28B
Gross Profit	4.58B	1.71B	2.66B	1.87B	1.77B	1.33B
EBITDA	1.64B	1.63B	1.39B	922.34M	919.91M	548.27M
Net Income	649.43M	680.76M	611.96M	317.27M	397.95M	118.14M
Balance Sheet
Total Assets	0.00	16.94B	16.03B	11.05B	7.77B	6.45B
Cash, Cash Equivalents and Short-Term Investments	471.17M	2.82B	4.58B	773.41M	768.59M	163.95M
Total Debt	0.00	3.01B	1.92B	3.56B	3.37B	2.79B
Total Liabilities	-9.49B	7.44B	6.94B	9.07B	7.00B	6.07B
Stockholders Equity	9.49B	9.49B	9.09B	1.98B	771.12M	376.52M
Cash Flow
Free Cash Flow	0.00	-2.28B	-1.04B	445.03M	401.23M	75.41M
Operating Cash Flow	0.00	-623.94M	-705.41M	521.05M	485.37M	349.28M
Investing Cash Flow	0.00	1.27B	-4.28B	-1.42B	-324.14M	-9.01M
Financing Cash Flow	0.00	-587.28M	4.79B	721.78M	460.67M	-428.16M

Cyient DLM Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 397.10
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:CYIENTDLM, the sentiment is Negative. The current price of 397.1 is above the 20-day moving average (MA) of 376.87, below the 50-day MA of 404.26, and below the 200-day MA of 443.85, indicating a bearish trend. The MACD of -12.21 indicates Negative momentum. The RSI at 38.88 is Neutral, neither overbought nor oversold. The STOCH value of 51.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:CYIENTDLM.

Cyient DLM Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DATAMATICS	72 Outperform	₹46.34B	23.78	―	0.58%	18.81%	29.35%
NUCLEUS	72 Outperform	₹23.92B	14.84	―	1.34%	6.64%	4.63%
CYIENTDLM	67 Neutral	₹29.42B	34.67	―	―	9.86%	21.38%
SYRMA	66 Neutral	₹163.86B	55.75	―	0.20%	1.30%	111.88%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
AVALON	60 Neutral	₹68.80B	70.64	―	―	46.80%	201.41%
CENTUM	55 Neutral	₹34.75B	299.32	―	0.25%	10.29%	―

Cyient DLM Limited Corporate Events

Cyient DLM Posts Q3 FY26 Earnings Call Recording for Investor Access

Cyient DLM Limited has notified the stock exchanges that it has made available the recording of its earnings conference call related to the financial results for the third quarter and the nine months ended 20 January 2026, in compliance with Regulation 46 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. By publishing this earnings call recording link, the company is enhancing transparency and access to financial disclosures for investors and other stakeholders, supporting informed decision-making and aligning with regulatory expectations on timely and accessible communication.

Cyient DLM Clears Q3 FY26 Results, Proposes IPO Fund Reallocation and Revamps Board Committees

Cyient DLM Limited’s board has approved the company’s unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025, showing continued revenue generation and profitability, and underscoring operational momentum across its design-led electronics manufacturing business. The board also cleared a proposal to change the originally stated objects of the company’s IPO funds, subject to shareholder approval via postal ballot, and reconstituted key board committees—Nomination and Remuneration, Audit, and Risk Management—placing independent directors in chair roles, a move that signals a tightening of governance structures and potentially sharper oversight of capital deployment and risk for investors.

Cyient DLM Releases Q3 FY26 Investor Presentation on Nine-Month Performance

Cyient DLM Limited has released an investor presentation detailing its financial performance for the third quarter and nine-month period ended 31 December 2025. The presentation, which has been shared with the Bombay Stock Exchange and the National Stock Exchange and made available on the company’s website, is intended to update shareholders and market participants on the company’s recent results and business developments, underscoring its ongoing engagement with capital markets and regulatory transparency.

Cyient DLM Appoints Giridhar Aramane as Independent Director

Cyient DLM Limited has announced the appointment of Mr. Giridhar Aramane as a Non-Executive Independent Director, effective November 26, 2025, for a term of three years, pending shareholder approval. This strategic addition to the board is expected to enhance the company’s governance and leverage Mr. Aramane’s extensive experience in the Indian Administrative Service, potentially strengthening Cyient DLM’s industry positioning and operational oversight.

Cyient DLM Limited Announces November 2025 Investor Meetings

Cyient DLM Limited has announced its participation in upcoming virtual investor meetings scheduled for November 2025. These meetings aim to engage with investors and analysts, ensuring compliance with SEBI regulations, while maintaining confidentiality of any unpublished price-sensitive information. This initiative reflects the company’s commitment to transparency and proactive communication with stakeholders.