Quarter Ended: March 2026

Cyient DLM Q4 FY26 – Results Analysis

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cyientdlm

BSE

543933

Cyient DLM reported a strong Q4 FY26 recovery, driven by sequential revenue growth, sharp profit rebound, positive operating cash generation, and improving liquidity.

However, the full-year picture was mixed, as annual consolidated revenue declined while profitability improved only modestly. Balance sheet deleveraging and cash generation were positives.

key financial highlights

Revenue from Operations:
- Total Income (Q4 FY26): ₹3,690.77 million
  - QoQ Change: +21.67%
  - YoY Change: -13.78%
- Previous Quarter (Q3 FY26): ₹3,033.47 million
- Previous Year (Q4 FY25): ₹4,280.55 million
Profit After Tax (PAT):
- PAT (Q4 FY26): ₹224.41 million
  - QoQ Growth: +99.78%
  - YoY Growth: -27.69%
- Previous Quarter: ₹112.33 million
- Previous Year: ₹310.35 million

Margin Analysis

Positives

Strong sequential revenue recovery
Costs grew slower than revenue QoQ
Operating leverage improved
Profitability recovered sharply sequentially

Earning quality check

Moderate-to-Good Earnings Quality:

Positive operating cash flow
Profit recovery supported by operations
Improved working capital performance

Caution:

Full-year revenue contraction weakens quality signal
Q4 still below prior-year earnings base

Interpretation:

High-quality earnings
Annual quality remains mixed

balance sheet Analysis

Total Assets:

FY26: ₹16,421.86 million
FY25: ₹16,939.13 million
Growth: -3.05%

Equity:

FY26: ₹10,121.08 million
FY25: ₹9,494.35 million
Growth: +6.60%

Current Borrowings:

FY26: ₹283 million
FY25: ₹957.50 million
Major Positive

Non-Current Borrowings:

FY26: ₹778.25 million
FY25: ₹1,480.06 million
Strong deleveraging

Cash & Cash Equivalent:

FY26: ₹800.33 million
FY25: ₹471.17 million
Strong liquidity improvement

Balance Sheet Insight:

Lower debt
Higher liquidity
Higher equity

Cash flow analysis

Operating Cash Flow

FY26: ₹539.02 million
FY25: Negative ₹623.94 million
Major improvement

Investing Cash Flow

Positive ₹1,636.10 million
Reflects:
- Strong

Financing Cash Flow

Negative ₹1,875.67 million
Reflects:
- Driven by debt reduction
- Positive quality signal

Cash Position

Cash increased:
- FY26: ₹800.33 million
- FY25: ₹471.17 million
- Very positive

key risks

Revenue Contraction Risk – Full-year sales decline remains concern
Demand Visibility Risk – Q4 recovery needs validation
Working Capital Risk – Inventory and contract asset intensity remain relevant

management strategy signals

Recovery execution
Margin restoration
Balance sheet strengthening
Deleveraging
Working capital optimization

Financial Metrics

Particular	Q4 FY26	Q.O.Q	Y.O.Y
Total Income	₹3,742.11 Million	+21.73%	-11.70%
PBT	₹316.76 Million	+111.54%	-23.91%
PAT	₹224.41 Million	+99.78%	-27.69%
EPS	₹2.83	+99.30%	-27.62%

Cyient DLM delivered:

Strong sequential revenue recovery
PAT nearly doubled QoQ
Operating cash flow turned positive
Strong deleveraging
Liquidity improved

Official Exchange Filing: Cyient DLM Limited

Quarterly Performance Context

COST OF OPERATIONS AS % OF REVENUE

93%

NET PROFIT AS % OF REVENUE

FISCAL YEAR

2025-2026

AUDIT STATUS

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