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Cyient DLM Ltd

Q3 FY26Aerospace & Defense

Cyient DLM Ltd Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q3 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹721
Market cap₹5.3K Cr
P/E64.3
Updated23 Aug 2026
Read4 min read

The short version

FY '27 expected to see double-digit growth in build-to-spec (B2S) revenue, increasing from around 6-7% in FY '26 to over 10%. FY '27 expected to show slight double-digit growth in revenue with good growth from FY '28 onwards, driven by B2S programs and improved industry mix.

From Cyient DLM Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • FY '27 expected to see double-digit growth in build-to-spec (B2S) revenue, increasing from around 6-7% in FY '26 to over 10%.
  • Strong order intake momentum with book-to-bill ratio >1.5 YTD, indicating robust revenue visibility.
  • Q4 FY '26 anticipated to have positive year-on-year revenue growth, marking a turnaround from recent declines.
  • FY '27 revenue growth expected to be substantial, driven by new sales team efforts, industry mix shift, and expansion into new geographies and segments (aerospace, industrial, medical, automotive).
  • Build-to-spec programs beginning revenue realization in FY '26, with significant scaling and margin expansion expected from FY '27 onwards.
  • Strong order book (~INR 2400 crores) with healthy margins, supporting 20-25% growth projection for FY '27.
  • Continued investments in sales, technology, and operational excellence to support long-term growth and improved margins.

Profitability & Margins

See what Cyient DLM Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Regular capex and maintenance ongoing at 1% to 2% of revenues.
  • Ability to quickly execute additional capex for specific customer needs; equipment/line additions have 3-6 months lead time.
  • Land, infrastructure, and building capacity already in place, enabling rapid scaling with new equipment.
  • Utilization of IPO proceeds: 15.4% deployed towards capex as of December 2025, with more planned in coming quarters.
  • Focus on investments in advanced manufacturing technologies (MES, automation, digitization) to improve efficiency and quality.
  • Continued investment in B2S capabilities and technology stacks to scale design-led growth.
  • Strategic inorganic growth pursued via acquisitions to expand geographies and capabilities; previously pursued but called off a $17.75 million M&A deal, with ongoing scouting.
  • Expect balanced capital deployment between organic growth, technology investment, and potential acquisitions.

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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what Cyient DLM Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

  • As of Q3 FY '26, the order book stands strong at INR 23.5 billion (approximately INR 2,350 crores), reflecting a quarter-on-quarter increase of INR 583 million.
  • This marks the third consecutive quarter of positive momentum in order intake.
  • The orders booked carry healthy and structurally improved margin profiles compared to historical levels.
  • The book-to-bill ratio stands at 1.56 on a year-to-date basis, indicating robust revenue visibility.
  • New orders and strong repeat business contributed to a healthy quarterly order intake of INR 387 crores.
  • The order book's margins are projected to be better than current margins, supporting double-digit profitability.
  • Build-to-spec revenue is currently about 6-7% of total revenue and is expected to grow to double digits in FY '27, aiding margin expansion.
  • The backlog supports positive growth visibility for Q4 and FY '27, with expectations of a 20-25% revenue growth in FY '27.

Cyient DLM Ltd — Quarterly revenue & net profit

Revenue Net profit
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹369 Cr, net profit ₹22 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Cyient DLM Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Cyient DLM Ltd Q3 FY26 results?

FY '27 expected to see double-digit growth in build-to-spec (B2S) revenue, increasing from around 6-7% in FY '26 to over 10%. FY '27 expected to show slight double-digit growth in revenue with good growth from FY '28 onwards, driven by B2S programs and improved industry mix.

What is Cyient DLM Ltd share price analysis?

Cyient DLM Ltd currently shows a neutral. The stock trades at a P/E of 64.3 with a market cap of ₹5,278 Cr. Investors should review the full earnings analysis for detailed insights.

Is Cyient DLM Ltd planning capital expenditure?

Regular capex and maintenance ongoing at 1% to 2% of revenues.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.