Cyient DLM Limited — Investor Meet, 21-10-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Cyient DLM reported Q2FY26 revenue of **₹310.6 Cr**, down 20% YoY. However, EBITDA improved to **₹31.2 Cr**, achieving double-digit margins, up 192 basis points YoY. PAT grew 108% to **₹32.1 Cr**, influenced by a one-time gain from an earnout reversal. The company secured new orders worth nearly **₹500 Cr** with a strong 1.6x book-to-bill ratio, increasing the order backlog to **₹2,291 Cr**. Management is confident, expecting H2 momentum to accelerate growth, with Q4 FY26 projected to show YoY growth driven by Industrial and Build-to-Spec segments. Margins are also expected to expand further. Strategic focus remains on non-Aerospace & Defence expansion and IP-led products. The sentiment is firmly confident on future growth.