Cyient Ltd.DET EBIT margin 14.2%, orders $158 Mn, TAO Digital closes

Cyient's Q2 FY27 call, held on 22 October 2026, showed its main engineering business, DET, with its best margin in ten quarters, helped by the TAO Digital acquisition.

DET revenue was $174.2 million, up 7.5% on the quarter, but organic revenue grew only 1.6% on the quarter and 0.4% on the year in constant currency. DET EBIT margin rose to 14.2%, order intake of $158.4 million was the highest ever for a second quarter, and free cash flow was nearly 140% of profit. Semiconductors revenue was $19.3 million with a sixth straight sequential gain, and DLM grew revenue 26% on the year. The board declared a ₹12 interim dividend after completing a ₹720 crore buyback.

Management gave no guidance but is confident about the second half, expects wage hikes to be offset by cost savings, and expects semiconductor breakeven in FY2028, possibly a quarter or two later. A €50 million a year frame agreement was signed but kept out of order intake. No earlier promises were on file for comparison.