Cyient DLM Ltd.Orders ₹2,813 Cr record, revenue +26.5%, margin 8.7%

Cyient DLM's Q2 FY27 call, held on 15 October 2026, reported revenue of ₹3,931 million, up 26.5%, and a record order book of ₹28.1 billion, or ₹2,813 crore, with book-to-bill of 1.6 times and a pipeline above $1 billion.

EBITDA margin fell 135 basis points to 8.7% because the company has fully loaded sales and marketing costs and expenses all product development. Normalised profit after tax rose 25.8% to ₹158 million, while reported profit of ₹340 million includes a one-time ₹182 million earn-out reversal. Net working capital improved to 153 days. Management guided FY27 EBITDA margin at 9% to 10% and double digit from FY28, set a three-phase plan taking margins toward 13% to 18% as electronic products programs worth about $1 billion start in FY29, and said semiconductor capital equipment is already contributing while AI data centres and robotics are early. It gave no product development budget and said material shortages slow order conversion.