Electronic manufacturing services (EMS) firm Cyient DLM Ltd on Tuesday, April 21, reported a net profit of ₹22.4 crore for the fourth quarter ended March 31, 2026, down 27.7% from ₹31 crore in the same period last year.
Revenue dipped 13.8% year-on-year to ₹369 crore from ₹428 crore. EBITDA slid 25% at ₹42.9 crore from ₹57.2 crore a year ago. The EBITDA margin came in at 11.6%, compared with 13.4% in Q4FY25.
Order book
The company reported a closing order book of ₹2,416.6 crore, the highest in the last 10 quarters, with a book-to-bill ratio above one across all four quarters and QoQ order book growth of 15% driven by a sustained book-to-bill ratio of 1.2. It said both EBITDA and PAT were at their highest levels in the last four quarters. Operating free cash flow for FY26 stood at ₹28.1 crore.
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The defence segment recorded a 68% year-on-year decline in Q4 due to the completion of large aerospace and defence orders, while aerospace remained the dominant segment in the overall mix.
In product categories, PCBA accounted for 48% of revenue, continuing its strong share across industry segments. Box build revenue rose 17% year-on-year, while the share of other segments increased due to higher B2S contribution.
Geographically, the rest of the world contributed a higher share of business, driven by increased demand from aerospace, medical, and industrial customers outside India. India accounted for 8% of revenue, largely from defence and automotive segments.
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Finance costs declined 34.4% due to lower interest rates and reduced working capital borrowings, while other income increased 54.8% on favourable foreign exchange movements in the fourth quarter.
The company noted that FY26 revenue growth was impacted by the completion of a large order in FY25. Employee expenses and other costs were influenced by B2S operations and US business activities.
FY26 included one-time items such as an earnout reversal of ₹19.57 crore in Q2, wage code impact of ₹1.64 crore, and M&A expenses of ₹1.77 crore in Q3. While finance costs declined, other income was lower following the closure of fixed deposits in the first half of FY26.
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The board has approved the re-appointment of BVR Mohan Reddy as non-executive, non-independent director of the company after he attains the age of 75 years, subject to shareholder approval.
Shares of Cyient DLM Ltd ended at ₹360.20, up by ₹14.65, or 4.24%, on the BSE today, April 21.
