What drove the 34% revenue growth?

Strong momentum in aerospace and industrial segments drove the increase.

Why did net profit more than double?

EBITDA margin expanded to 10.5%, and operating leverage boosted the bottom line. Net profit rose to ₹16.3 crore.

How does the record order book compare to revenue?

The order book of ₹2,598.9 crore and a book-to-bill ratio of 1.5x suggest strong demand visibility extending well beyond the current year.

Why was free cash flow negative despite strong profitability?

The company invested in inventory to support long-term programs, resulting in an outflow of ₹17.1 crore in free cash flow.

Is the 10.5% EBITDA margin sustainable?

Management's ability to maintain this margin as the mix shifts will be key. The current level marks a significant improvement.

Earnings · EMS · Small cap

Cyient DLM posts 34% revenue growth, record order book of ₹2,598.9 cr

Q1 net profit more than doubles to ₹16.3 cr; EBITDA margin expands to 10.5%. But free cash flow turns negative as inventory builds.

— 1 earlier story on Cyient DLM Ltd. →

CYIENTDLM By Tipsheet Editorial 21 Jul 2026 · 5:26 PM IST Verify on BSE · NSE

Mkt cap₹3,691 cr

P/E50.37×

ROE7.24%

Debt / eq.0.10

₹2,598.9 cr Record order book (highest ever)

What's new

Q1 revenue up 34.3% YoY to ₹373.8 cr; net profit more than doubles to ₹16.3 cr.
EBITDA margin expands to 10.5%; EBITDA up 56.2% to ₹39.2 cr.
Record order book of ₹2,598.9 cr; book-to-bill 1.5x.

Why this matters

Cyient DLM is executing well in aerospace and industrial, with double-digit margins finally sustaining. The record order book provides multi-year visibility. But the company burned cash in the quarter to build inventory for those orders, a bet that needs to convert to cash.

What we're watching

Whether free cash flow turns positive as inventory gets absorbed in coming quarters.
Sustenance of double-digit EBITDA margins as revenue scales.
Order conversion timeline for the record backlog.

The full read

Cyient DLM’s Q1FY27 numbers are strong: 34% revenue growth, EBITDA margins back above 10%, and net profit more than double. But the headline is the order book. At ₹2,598.9 crore, a record, it gives multi-year visibility. Quarterly intake of ₹551.9 crore and a 1.5x book-to-bill suggest the momentum is real. The catch: free cash flow was negative ₹17.1 crore as the company stocked up on inventory for those long-term programs. It's a bet on delivery, not a sign of distress. The next test is whether that inventory turns into cash as the orders convert. For now, execution is solid.

Questions answered

What drove the 34% revenue growth?: Strong momentum in aerospace and industrial segments drove the increase.
Why did net profit more than double?: EBITDA margin expanded to 10.5%, and operating leverage boosted the bottom line. Net profit rose to ₹16.3 crore.
How does the record order book compare to revenue?: The order book of ₹2,598.9 crore and a book-to-bill ratio of 1.5x suggest strong demand visibility extending well beyond the current year.
Why was free cash flow negative despite strong profitability?: The company invested in inventory to support long-term programs, resulting in an outflow of ₹17.1 crore in free cash flow.
Is the 10.5% EBITDA margin sustainable?: Management's ability to maintain this margin as the mix shifts will be key. The current level marks a significant improvement.

Mentioned: Cyient DLM · ₹2,598.9 cr order book · 10.5% EBITDA margin

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Company snapshot

Cyient DLM Ltd.

EMS

₹5,327 cr

P/E 64.89×

Latest quarter · Jun 2026

Sales₹374 cr

Net profit₹16 cr

Op. margin+9.9%

EPS₹2.05

Strength & growth

Debt / equity0.10×

Current ratio2.49×

Story so far

All notes on CYIENTDLM →

21 Jul 2026 · 5:26 PM IST Cyient DLM posts 34% revenue growth, record order book of ₹2,598.9 cr
7d ago Cyient DLM lands record order book, expands into AI data centers and robotics