Cyient DLM Limited Earnings Summary — Q2 FY2027
Cyient DLM Reports 26.5% YoY Revenue Growth in Q2 FY2027 Driven by Robust EMS Demand; Net Profit Rises to ₹340.1M
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 4 consecutive quarters.
- Revenue of ₹393 Cr is 26.5% higher year-on-year.
- Revenue has compounded at 20.6% annualised over the last 10 quarters.
- Net profit has reached its highest level in 10 quarters.
- Net profit of ₹34 Cr is 5.8% above the same quarter last year.
- Profit growth is trailing revenue growth this quarter.
- Net profit has compounded at 67.9% annualised across the period.
- Operating margin stands at 8.7% in Q2 FY2027.
- Operating margin compressed by 135 bps year-on-year.
- Over the last two years operating margin has expanded by 57 bps.
- PBT margin is 10.0%.
- Expenses grew 28.4% against revenue growth of 26.5%.
- Operating profit of ₹34 Cr is 9.5% higher year-on-year.
- Operating leverage has been under pressure recently.
- 3 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 64/100 (Healthy) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q2 FY2027 | Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 393 | 374 | 369 | 303 | 311 | 278 | 428 | 444 | 389 | 258 |
| Expenses | Improving | 359 | 335 | 326 | 276 | 279 | 253 | 371 | 416 | 358 | 238 |
| Operating Profit | Volatile | 34 | 39 | 43 | 28 | 31 | 25 | 57 | 28 | 32 | 20 |
| Operating Margin | Improving | 8.7% | 10.5% | 11.7% | 9.1% | 10.0% | 9.0% | 13.4% | 6.3% | 8.1% | 7.8% |
| Other Income | Volatile | 23 | 0 | 5 | 4 | 23 | 4 | 3 | 7 | 7 | 9 |
| Interest | Stable | 6 | 6 | 6 | 6 | 7 | 9 | 9 | 10 | 11 | 8 |
| Depreciation | Improving | 11 | 11 | 11 | 11 | 11 | 11 | 10 | 10 | 7 | 7 |
| Profit Before Tax | Volatile | 39 | 22 | 32 | 15 | 36 | 10 | 42 | 15 | 21 | 14 |
| Tax | Volatile | 5 | 6 | 9 | 4 | 4 | 3 | 11 | 4 | 5 | 4 |
| Net Profit | Improving | 34 | 16 | 22 | 11 | 32 | 7 | 31 | 11 | 15 | 11 |
| Net Margin | Volatile | 8.7% | 4.4% | 6.1% | 3.7% | 10.3% | 2.7% | 7.3% | 2.5% | 4.0% | 4.1% |
Key Takeaways
- Consolidated revenue from operations increased 26.5% YoY to ₹3,930.90 million compared to ₹3,106.34 million in Q2 FY2026.
- Consolidated Net Profit stood at ₹340.14 million, up 5.8% YoY and up 108.9% QoQ, supported by ₹226.15 million in other income.
- Other income included a non-cash gain of ₹181.95 million on the fair valuation of earnout liabilities.
- Core operating margins contracted to 5.80% due to an increase in employee benefit expenses (₹678.87 million vs ₹329.42 million YoY) following integration and capacity expansion.
- The Board approved the appointment of Mr. Sandip Mishra as Senior VP & Chief Human Resources Officer.
- Granted 10,000 RSUs and 263,400 stock options to associates under existing employee incentive schemes.
Management Guidance
Management expects order deliveries and business momentum in core Electronic Manufacturing Services to maintain a steady growth trajectory, with anticipated improvements in IP communications investments over the next few years as new products launch.
Sentiment Shift
Improving
Revenue showed strong YoY acceleration of 26.5% and sequential net profit rebounded sharply, though core operating margins faced pressure from higher staff costs.
Outlook
The outlook remains positive backed by defense indigenization tailwinds and expanding aerospace EMS footprint, though working capital management and operating margin normalization remain key monitorables.
From the Annual Report (Key Quotes)
“Approved the Un-audited financial results (Standalone and Consolidated) for the quarter and half year ended 30 September 2026.”
“Gain on fair valuation of earnout liability on 181.95 million in consolidated results for the quarter and half year ended September 30, 2026.”
“Management expects the value of the investment to improve in future as the products are launched over the next few years.”
Official Quarterly Documents
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This summary is AI-generated from Cyient DLM Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.
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