Cyient DLM Ltd
Cyient DLM is a leading electronics system design and manufacturing player, which provides system design, integration, testing, and manufacturing of electronic components and subsystems for original equipment manufacturers (OEMs) in the aerospace and defense sectors and other high-tech engineering segments. It has customers in India, Europe, North America, China and Japan.[1]
- Market Cap ₹ 2,973 Cr.
- Current Price ₹ 375
- High / Low ₹ 541 / 345
- Stock P/E 36.3
- Book Value ₹ 124
- Dividend Yield 0.00 %
- ROCE 11.0 %
- ROE 7.33 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 3.01 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 9.60% over last 3 years.
- Working capital days have increased from 51.4 days to 111 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|
| 832 | 1,192 | 1,520 | 1,320 | |
| 744 | 1,081 | 1,382 | 1,179 | |
| Operating Profit | 88 | 111 | 137 | 141 |
| OPM % | 11% | 9% | 9% | 11% |
| 6 | 28 | 26 | 34 | |
| Interest | 32 | 34 | 38 | 30 |
| Depreciation | 19 | 22 | 34 | 42 |
| Profit before tax | 43 | 82 | 92 | 103 |
| Tax % | 26% | 25% | 26% | |
| 32 | 61 | 68 | 82 | |
| EPS in Rs | 6.00 | 7.72 | 8.58 | 10.31 |
| Dividend Payout % | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | -9% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 37% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -23% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 10% |
| Last Year: | 7% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|
| Equity Capital | 53 | 79 | 79 | 79 |
| Reserves | 145 | 830 | 870 | 907 |
| 356 | 192 | 301 | 211 | |
| 551 | 502 | 443 | 483 | |
| Total Liabilities | 1,105 | 1,603 | 1,694 | 1,680 |
| 161 | 192 | 346 | 342 | |
| CWIP | 1 | 1 | 6 | 4 |
| Investments | 90 | 66 | 31 | 27 |
| 853 | 1,344 | 1,311 | 1,307 | |
| Total Assets | 1,105 | 1,603 | 1,694 | 1,680 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| 54 | -71 | -62 | |
| -142 | -428 | 127 | |
| 72 | 479 | -59 | |
| Net Cash Flow | -16 | -19 | 5 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Debtor Days | 71 | 69 | 83 |
| Inventory Days | 240 | 184 | 188 |
| Days Payable | 161 | 123 | 82 |
| Cash Conversion Cycle | 150 | 131 | 189 |
| Working Capital Days | -32 | 76 | 111 |
| ROCE % | 14% | 11% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
27 Jan - Transcript of the Earnings call held in connection with Financial result for the Q3 FY 26
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Announcement under Regulation 30 (LODR)-Newspaper Publication
22 Jan - Copy of newspaper publication in connection with Q3FY26 financial results
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Announcement under Regulation 30 (LODR)-Investor Presentation
22 Jan - Revised investor presentation, an inadvertent error was identified in the representation graph (slide no.11) of the previously circulated presentation on 20 January 2026, pertaining to …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
21 Jan - Posted recording of earnings call for Q3 and nine months ended, held 20 January 2026.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
20 Jan - Q3 FY26: Revenue INR303.3cr (-31.7% YoY); EBITDA INR30.94cr (10.2%); PAT INR13.84cr; YTD orders INR1,400cr+.
Concalls
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Jan 2026Transcript PPT
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Jan 2026TranscriptAI SummaryPPT REC
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Oct 2025Transcript PPT
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Jul 2025Transcript PPT REC
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Apr 2025Transcript PPT REC
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Jan 2025Transcript PPT REC
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Oct 2024Transcript PPT REC
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Jul 2024Transcript PPT
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Apr 2024Transcript PPT REC
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Jan 2024Transcript PPT
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Jan 2024TranscriptAI SummaryPPT
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Oct 2023Transcript PPT
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Jul 2023Transcript PPT
Business Profile[1]
Co. develops Low volume, high mix (LVHM) products which is a type of contract manufacturing setup, having a high emphasis on quality and customization according to customer requirements. Company enters into 3-5 year master service agreements (MSA) with its customers.