Q3 2026 Cyient DLM Ltd Earnings Call Transcript
Key Points
- Cyient DLM Ltd (BOM:543933) reported a strong order momentum with a book-to-bill ratio above one for the third consecutive quarter, indicating sustained demand and effective commercial strategy.
- The company is strengthening its sales engine by adding key strategic sales resources, positioning itself to pursue larger opportunities in the sector.
- There is a significant improvement in the margin profile, with orders forecasted to come at better margins than historically delivered, supported by a double-digit EBITDA margin.
- The company is seeing traction in high-growth industries such as automotive, industrial, and medical, which are central to its long-term strategy.
- Cyient DLM Ltd (BOM:543933) has been recognized for its quality delivery and manufacturing maturity, receiving awards for electronic hardware exports and risk mitigation in aerospace.
- Revenue for the quarter was soft due to customer-specific issues related to the year-end holiday period and tariff-related uncertainty.
- There was a 31.7% year-on-year decline in Q3 revenue, primarily due to the completion of a large cyclical order near FY '25.
- Inventory levels were elevated due to customer-specific shipment delays, impacting networking capital negatively.
- The company incurred one-off expenses related to M&A evaluation and the impact of a new wage code, affecting the financial results.
- Despite improvements, the revenue mix remains heavily reliant on PCBA, with box build and other services growing but still not dominating.
Ladies and gentlemen, good day and welcome to Cyient Dealing Limited Q3 FY '26 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Krishna Bodanapu, Non-Executive Chairman, and DLM Limited.
Thank you and over to you, sir.
Thank you very much and good evening ladies and gentlemen. I'm Krishna Bodanapu, Non-Executive Chairman of Science DLM, and I welcome you all to our Q3 FY '26 earnings call. Joining me today on the call are our managing director and CEO, Mr. Rajendra Velagapudi; and our CFO, Mr. RM Subramanyam (RMS); I would also take this opportunity to welcome RMS to sign, and also to state that this is his first, investor call as the CFO of Cyient DLM.
Before we begin, I would like to remind you that certain statements made during this call may be forward-looking in nature and subject to risks and uncertainties. A detailed disclaimer is available in our investor update posted on our
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