Cyient DLM Limited Reports Q3FY26 Revenue Decline Amid Record Order Backlog
Cyient DLM Limited reported a 31.7% year-on-year decline in Q3FY26 revenue, totaling Rs 3,033 million, largely due to the completion of a significant defense order and shipment delays. Despite this, the company boasts a record order backlog of Rs 23.5 billion and a year-to-date book-to-bill ratio of 1.56x, with EBITDA improving to Rs 275 million. Looking ahead, Cyient DLM anticipates revenue recovery and enhanced EBITDA margins by FY28 as it diversifies its revenue sources.
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Cyient DLM Limited reported Q3FY26 revenue of Rs 3,033 million, a 31.7% year-on-year decline, primarily due to the completion of a large defense order in FY25 and temporary shipment deferrals linked to year-end holidays and US tariffs. Despite the revenue drop, the company holds a record order backlog of Rs 23.5 billion and a year-to-date book-to-bill ratio of 1.56x.
EBITDA was Rs 275 million, with an EBITDA margin of 9.1%, reflecting a year-on-year improvement in cost absorption and revenue mix. Reported PAT was Rs 112 million, up 2.2% YoY but down 65.1% QoQ, impacted by a decline in other income.
Cyient DLM's revenue is expected to recover to Rs 18,807 million by FY28, with EBITDA margins projected to improve to 12.0%. The company continues to diversify its revenue base, reducing dependence on defense and enhancing stability.
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