Cyient DLM Limited (CYIENTDLM)

Small Cap

Cyient DLM Limited is an Electronics Manufacturing Services (EMS) provider. It focuses on high-reliability builds across Aerospace & Defense, Industrial, Medical, and Automotive sectors, with a strategic pivot towards Robotics and AI Data Center infrastructure.

₹776.6

+29.50 · +3.95%

Market cap ₹7,146 Cr

ThemesManufacturing

Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm IST

Details

Quote21 Oct, 03:31 pm IST

Base fundamentals16 Oct 2026 · screener

Latest result15 Oct, 04:39 pm IST

Score21 Oct, 04:30 am IST · v4.3-runtime-valuation

Tags02 May 2026

Coverage14/14 · 100%

Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)

Technical timing lens

Trend score and candlestick chart

54Neutral

SMA20 +7.9% / mo · MACD −

Stock trend: 59

Sector RS: 46

Sector 3M: -7.1% vs Nifty 500 -5.6%

Industrials FPI tailwindNot confirmed

Latest mapped FPI equity flow was not positive. View sector evidence

Compare peers →

Technical chart

CYIENTDLMD candles · FIT view+94.1%

Latest close ₹776.60 on 2026-10-21

Bar

+5.7%

RSI

MACD hist

-26.62

52W pos

64%

2026-10-21O ₹735.00H ₹787.30L ₹725.20C ₹776.60Vol 13.1L sh

Up bar

Down bar

EMA 20

EMA 50

Volume + 20D avg

Result date

RSI(14)

MACD / signal

Market context

Relative performance and chart statistics

Adjusted completed-session prices, rebased to 100

CYIENTDLMNifty India ManufacturingNifty 500

CYIENTDLM: +24.7%
Nifty 500: -6.5%
Nifty India Manufacturing: -7.7%
Vs Nifty 500: +31.1 pp

Chart stats

21 Oct 2026

From 52W high: -26.8%
52W range position: 64%
ATR (14): 8.9%
Volume vs 20D: 1.63x
Avg traded value: ₹75.4 Cr
20D price channel: ₹725.2 - ₹1,061

Quarter ended 30 Sept 2026

Average · 42

margin compression · Rev +26% YoY · PAT +6% YoY · +5% QoQ

Revenue: ₹393.1 Cr; YoY +26.4%
PAT: ₹34 Cr; YoY +6.3%
Operating margin: 8.7%; QoQ -131 bps
PAT margin: 8.7%; QoQ +437 bps

Filed 15 Oct 2026Full result & history →

Current-quarter concall

Transcript not linked yet

No source-linked earnings-call transcript is available for this company in the active results quarter.

Search Concall Intelligence

Technical snapshot

Positioning and participation

Stage 2 Uptrend

Current trend context ranked against all active NSE stocks. It describes the chart; it is not a buy or sell signal.

RS percentile: 94; -3 ranks over 20D
Stage 2 entry: 26 Jun 2026; 81 trading sessions · established
Sector rotation: #2; leading · 600 stocks
Industry rotation: #23; weakening · 16 stocks

Trend structure

Below 20-DMABelow 50-DMAAbove 200-DMA

RSI (14)

Weak momentum

MACD

Below signal

Histogram -26.62

Volume participation

1.6x average

Versus 20-session average

20-session position

15% of range

₹725.2 low · ₹1,061 high

Relative performance

vs Nifty 500

1M: -10.4 pp; stock -14.9%
3M: +31.1 pp; stock +24.7%
6M: +122.3 pp; stock +117.0%
1Y: +75.8 pp; stock +67.8%

From 52W high

-26.8%

High ₹1,061

52W range position

64%

₹265.2 - ₹1,061

ATR (14)

8.9%

₹68.97

Avg traded value

₹75.4 Cr

20-session average

Current setup

Established Stage 2

Entered 26 Jun 2026 · 81 sessions

Open detailed technicals →

Research snapshot

What the evidence says now

Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is weak.

Suggested next step

Check latest quarters

Result consistency is weak; verify whether the thesis is improving or deteriorating.

U-Score

Legacy · WATCHLIST

Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.

Financials

Fundamentals, quarterly history, margins, returns and balance-sheet evidence

Quarter ended 30 Sept 2026

Average · 42/100

margin compression · Rev +26% YoY · PAT +6% YoY · +5% QoQ

Filed 15 Oct 2026

Open results browser →

Metric	This quarter	YoY	QoQ
Revenue	₹393.1 Cr	+26.4%	+5.1%
EBITDA	₹34.2 Cr	+10.2%	-12.4%
Operating margin	8.7%	-131 bps	-131 bps
PAT	₹34 Cr	+6.3%	+112.6%
PAT margin	8.7%	-164 bps	+437 bps

NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.

Fundamentals

Valuation

P/E: 85.10
P/B: 6.64
EV/EBITDA: 39.10
Market Cap: 7146.00Cr

Profitability

ROE: 7.49%
ROCE: 9.90%
ROA: 4.81%
Dividend Y: —

Growth (CAGR)

Revenue 5Y: 14.68%
EPS 5Y: 27.29%
Revenue 3Y: 15.00%
EPS 3Y: 32.00%

Balance Sheet

Debt/Equity: 0.19
Interest Coverage: 6.00×
Altman Z: 8.11
Book Value: 135.00

Cash Flow

FCF Yield: 3.09%
FCF Positive Y: 2/5
OCF: 54.00 Cr
EPS TTM: 10.57

Shareholding

Promoter Hold: 52.11%
Promoter Pledge: 0.00%
Momentum 52W: 79%

Financial History

Updated 21/10/2026

Revenue

₹ Cr

Latest: 393+5.1% vs prev

Net Profit

₹ Cr

Latest: 34.0+112.6% vs prev

ROE is shown only in the Annual view — quarterly equity data isn't published.

Technicals

Trend interpretation, Stage 2, relative strength, volume and indicator evidence

Daily technical trend read

Mixed signals

Signals are conflicting — long-term uptrend intact. RSI 37. Wait for confirmation.

Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
SMA20 rising (~7.3% over last month) — short-term momentum positive.
RSI(14) at 37 — falling, no extreme reading.
MACD below signal, histogram expanding negatively — bearish momentum building.
27% off 52W high · 193% above 52W low.

Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.

Nifty 500 leadership

Relative Strength & Trend Stage

RS percentile

Stage 2 UptrendEstablished S2

1M return

-14.9%

3M return

+24.7%

6M return

+103.5%

1Y return

+70.1%

RS 1D

RS 20D

-3

Sector rank

Industry rank

#23

Stage evidence

Price is 32.1% above the 30-week proxy.
The 50-DMA is above the 30-week proxy and its slope is rising +16.6%.
Both 3-month and 6-month returns are positive.

50-DMA

price below

200-DMA

price above

S2 entered

26 Jun 2026

S2 age

81 trading sessions

Sector

leading

Industry

weakening

Relative-strength line vs Nifty 500 (base 100)

262 observations

21 Oct 2026Value 194.36+4.92%

RS vs Nifty 500194

Valuation & peers

U-Score 34 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies

WATCHLIST

Fundamental score breakdown

U band · WATCHLIST

Valuation0/30

Growth15/25

Quality0/20

Balance Sheet8/15

Cash Flow6/10

Piotroski

8/9 (+5)

Penalties

Raw sum

Why this score?

Top U-Score contributors and drags from the latest stored fundamentals.

34/100 · legacy band WATCHLIST

Positive drivers

FCF yield is supportive at 3.1%.
Piotroski is strong at 8/9.
Growth contributes 15/25 to the score.

Main drags

Fair-value margin of safety is negative at -87.0%.
Valuation is weaker at 0/30; verify the latest quarterly trend.
Quality is weaker at 0/20; verify the latest quarterly trend.

Sector valuation model

Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks

For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.

Blended relative

Primary lens

PE, EV/EBITDA, margin of safety, and FCF yield together.

Secondary checks

ROE/ROCE, growth, cash conversion, leverage, promoter risk.

Main risk check

One cheap metric is not enough if quality or cash flow is weak.

85.1

6.6

EV/EBITDA

39.1

ROE

7.5%

ROCE

9.9%

FCF Yield

3.1%

Debt/Equity

0.2

MoS

-87.0%

Score movement

Stored run vs live recompute

This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.

Stored run: 21 Oct 2026

v4.3-runtime-valuation

Final score

Previous: 34

Legacy U-Score band

WATCHLIST

Previous: WATCHLIST

Margin of safety

-87.0%

Previous: -79.8%

Score history

12 stored score snapshots. Latest stored move: +0 points.

21 Oct 2026

v4.3-runtime-valuation

Factor attribution

No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.

Modelled fair value

Graham Number

₹179.18

-333.4% MoS

Growth-justified P/E

39.3

Growth-justified Value

₹415.4

-87.0% MoS

PEG

2.92

Comparable companies

Peers

Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.

Compare all ↗

Ticker

Name

Why peer

Score

ROE

MoS

Verdict

AIMTRON

SME

Aimtron Electronics Ltd.

Electronics Manufacturing Services

Vinyas Innovative Technologies Ltd.

Electronics Manufacturing Services

Avalon Technologies Limited

Electronics Manufacturing Services

Sahasra Electronic Solutions Ltd.

Electronics Manufacturing Services

Dixon Technologies (India) Limited

Electronics Manufacturing Services

Business, management & trust

Growth engines, risks, management commitments and evidence-backed delivery

Business and thesis

Where growth can come from, and what can break the case

Thesis intactReviewed 2026-10-06T07:47:21.032Z

Management commentary snapshot

Q1 FY27 saw robust performance with revenue up 34.3% YoY, PAT more than doubling by 118.2% YoY, and EBITDA margin expanding to 10.5%. The company achieved its highest-ever order book of INR 25,989 Mn.

The company delivered strong Q1 FY27 results, marked by significant revenue and profit growth, margin expansion, and a record order book. Strategic focus on high-reliability segments and new growth areas like AI/Robotics, coupled with capacity expansion, supports the long-term thesis.

Growth engines

New Client Acquisition

Added 2 new logos across Industrial and Automotive segments in Q1.

B2S Platforms

Strong product-platform momentum with a robust order pipeline from key customers.

AI Infrastructure & Data Center

Identified as creating electronics-heavy, high-complexity hardware categories.

Robotics

Needs high-reliability subsystems, control electronics, and test assemblies.

Capacity and execution

B2S Lab Expansion

B2S lab capacity expanded from 6,000 to 15,000 sq ft.

Tailwinds

Global EMS Market Growth

Current market ~$625-650B, potential ~$1.1T by 2033 with ~6%+ CAGR.

Rising Electronics Content

Focus on more compute, sensing, and connectivity per product.

Supply-Chain Regionalization

China+1 strategy and supply-chain resilience are redistributing manufacturing globally.

Shift to High-Reliability Builds

Industry trend towards high-mix, high-reliability over commodity volume work.

Headwinds

Forex Losses

Primarily contributed to a 93.7% YoY decrease in other income.

Management accountability

What management said, and what results must prove

Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.

Analyst reading lens

Compare BOTH

YoY comparison highlights strong growth in revenue, PAT, and margin expansion. QoQ comparison is relevant for tracking sequential momentum in order book, order intake, and working capital management.

Sector KPIs management disclosed

Order Book

INR 25,989 Mn (Highest-ever since IPO).

Order Intake

INR 551.9 Cr (Book-to-Bill of 1.5x).

Revenue

INR 3,738 Mn (34.3% YoY growth).

EBITDA Margin

10.5% (147 bps YoY improvement, double-digit for 4 consecutive quarters).

Management forward view

Strategic Pivot

Long-term plan to expand from 4 to 6 industries (adding Robotics, AI Data Center) and elevate value proposition with product + IP moat by FY30+.

Widening Industry Coverage

Focus on expanding industry coverage and elevating the value proposition.

Margin Expansion

Aims for margins of ~11-13% in FY27-29 and ~13-18% by FY30+.

Thesis monitor

Numbers and claims to verify in the next filings

Checkpoint	Current evidence	What to verify next
Order Book Growth	INR 25,989 Mn	Continued growth and book-to-bill ratio above 1x.
EBITDA Margin Consistency	10.5%	Sustained double-digit margins and progress towards 11-13% target.
Working Capital Management	NWC at 161 days, OCF at -171 Mn	Improvement in NWC days and positive operating cash flow.
B2S Platform Momentum	Strong pipeline	Conversion of pipeline into orders and revenue contribution.

Verification checkpoints are IndiaPulse research interpretation, not investment advice.

Trust Score

67Limited evidence · low confidenceTrust Lite

Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.

Limited evidence: Claim history is still being built. It ranks around the 52nd percentile of the scored universe and 50th percentile within Industrials. Main check: results consistency is weak at 36/100.

This is a financial-behaviour screen, not a claim-tested management reliability verdict.

Computed 05 Sept 2026

management-trust-v1

62 docs text-extracted · 24 concalls text-extracted

Score band

Limited evidence

Financial behaviour is scored, but management claims do not yet have enough outcome checks.

Relative rank

52nd percentile

overall median 67 · Industrials: 50th pctile, median 68 · Small: 56th pctile, median 66

Evidence depth

Financial-only

62 documents have extracted text, but claim history is not strong enough yet.

Claim delivery

Outcome history still building

0 claims extracted · No contradicted claim yet

How to read this Trust Score

Limited evidence · low confidence

What it measures

Reliability of management and financial delivery, using financial behaviour only.

Confidence

Treat this as an early read until more concalls and outcomes are matched.

Investor use

Acceptable, but check the weakest sub-score before increasing exposure.

Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.

Forensic breakdown

Read low sub-scores as due-diligence warnings, not automatic sell signals.

Promoter

strong · holding, pledge, alignment

Cash flow

acceptable · profit to cash conversion

Balance sheet

strong · leverage and solvency

Discipline

acceptable · capital discipline

Results

weak · quarterly consistency

Trust positives

▸Promoter pledge is zero.
▸FCF yield is positive at 3.3%.

Trust risks

▸ROE is low at 7.5%.
▸1/4 latest quarters had positive YoY revenue growth.
▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.

Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.

Compare Industrials stocks Browse Indian stocks starting with C Explore fundamental stock screeners Browse Indian investment themes

Related companies

Aimtron Electronics Ltd. (AIMTRON)Vinyas Innovative Technologies Ltd. (VINYAS)Avalon Technologies Limited (AVALON)Sahasra Electronic Solutions Ltd. (SAHASRA)Dixon Technologies (India) Limited (DIXON)

Important announcements & filings

Latest exchange and company disclosures found within the past two years.

Source: Bse

Open source ↗

Verify on:NSE India ↗

All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.

Cyient DLM Limited (CYIENTDLM)

Trend score and candlestick chart

Technical chart

Relative performance and chart statistics

What the evidence says now

Financials

Quarter ended 30 Sept 2026

Fundamentals

Valuation

Profitability

Growth (CAGR)

Balance Sheet

Cash Flow

Shareholding

Revenue

Net Profit

Technicals

Daily technical trend read

Relative Strength & Trend Stage

Valuation & peers

Fundamental score breakdown

Why this score?

Positive drivers

Main drags

Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks

Stored run vs live recompute

Score history

Factor attribution

Modelled fair value

Comparable companies

Business, management & trust

Where growth can come from, and what can break the case

New Client Acquisition

B2S Platforms

AI Infrastructure & Data Center

Robotics

B2S Lab Expansion

Global EMS Market Growth

Rising Electronics Content

Supply-Chain Regionalization

Shift to High-Reliability Builds

Forex Losses

What management said, and what results must prove

Order Book

Order Intake

Revenue

EBITDA Margin

Strategic Pivot

Widening Industry Coverage

Margin Expansion

Numbers and claims to verify in the next filings

How to read this Trust Score

Forensic breakdown

Trust positives

Trust risks

Continue researching Cyient DLM Limited

Important announcements & filings

Sep 2026 · Announcement Under Regulation 30 Of SEBI LODR 23 Sep - US step-down subsidiary renamed to Cyient DLM Electronics Inc on 23 September 2026.

Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 19 Aug - The details of the investor meeting which is to be held on 3 September 2026

Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 8 Sep - The details of the investor Meet to be held on 16 September 2026

Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 3 Sep - Cyient DLM to meet Bajaj Alternate Investment Management on 11 September 2026, virtually.

Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 3 Sep - Intimation of investor meet to be held on 15 September 2026

Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 28 Aug - The details of investor meet to be held on 07 September 2026

Aug 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 3 Aug - The details of the Investor meet to be held on 06 August 2026

Aug 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 12 Aug - Cyient DLM will hold investor/analyst meetings on 26-27 August 2026 with several mutual funds.

Aug 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 18 Aug - The details of the Investor meet which is to be held on 21 August 2026

Jul 2026 · PPT

Jul 2026 · Transcript

Jul 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 24 Jul - Cyient DLM to meet Whiteoak and Motilal Oswal AMC on 30 July 2026.