New Risk • Aug 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Large one-off items impacting financial results. Reported Earnings • Jul 22
First quarter 2027 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2027 results: EPS: ₹2.05 (up from ₹0.94 in 1Q 2026). Revenue: ₹3.74b (up 34% from 1Q 2026). Net income: ₹162.9m (up 118% from 1Q 2026). Profit margin: 4.4% (up from 2.7% in 1Q 2026). Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in India. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 12% per year. Duyuru • Jul 21
Cyient DLM Limited Announces Cessation of Mr. Yadama Muralidhar as Non-Executive Independent Director, Member of Audit Committee, Risk Management Committee and ESG and CSR Committee, Effective July 20, 2026 Cyient DLM Limited informed that Mr. Yadama Muralidhar (DIN:00034952) ceased to be a Non-Executive Independent Director upon completion of his term as an Independent Director at the close of business hours on July 20, 2026. Consequently, he also ceased to be a member of Audit Committee, Risk Management Committee and ESG and CSR Committee of the company. The cessation of Mr. Yadama Muralidhar as Independent Director was due to completion of tenure and was not attributable to any other reason. Price Target Changed • Jul 08
Price target increased by 9.9% to ₹435 Up from ₹396, the current price target is an average from 10 analysts. New target price is 17% below last closing price of ₹521. Stock is up 7.3% over the past year. The company is forecast to post earnings per share of ₹11.81 for next year compared to ₹9.23 last year. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹537, the stock trades at a forward P/E ratio of 45x. Average forward P/E is 54x in the Electronic industry in India. Total returns to shareholders of 9.0% over the past three years. New Risk • Jun 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Reported Earnings • Jun 14
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: EPS: ₹9.24 (up from ₹8.58 in FY 2025). Revenue: ₹12.6b (down 17% from FY 2025). Net income: ₹732.8m (up 7.6% from FY 2025). Profit margin: 5.8% (up from 4.5% in FY 2025). Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) also missed analyst estimates by 2.0%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in India. Reported Earnings • Apr 22
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: EPS: ₹9.23 (up from ₹8.58 in FY 2025). Revenue: ₹13.0b (down 15% from FY 2025). Net income: ₹732.8m (up 7.6% from FY 2025). Profit margin: 5.6% (up from 4.5% in FY 2025). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) also missed analyst estimates by 2.0%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electronic industry in India. Price Target Changed • Apr 11
Price target decreased by 8.7% to ₹389 Down from ₹427, the current price target is an average from 9 analysts. New target price is 24% above last closing price of ₹315. Stock is down 29% over the past year. The company is forecast to post earnings per share of ₹9.42 for next year compared to ₹8.58 last year. Duyuru • Apr 07
Cyient DLM Limited to Report Q4, 2026 Results on Apr 21, 2026 Cyient DLM Limited announced that they will report Q4, 2026 results on Apr 21, 2026 Reported Earnings • Jan 21
Third quarter 2026 earnings: EPS and revenues miss analyst expectations Third quarter 2026 results: EPS: ₹1.42 (up from ₹1.39 in 3Q 2025). Revenue: ₹3.08b (down 31% from 3Q 2025). Net income: ₹112.3m (up 2.2% from 3Q 2025). Profit margin: 3.7% (up from 2.5% in 3Q 2025). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 18%. Earnings per share (EPS) also missed analyst estimates by 39%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electronic industry in India. Duyuru • Jan 05
Cyient DLM Limited to Report Q3, 2026 Results on Jan 20, 2026 Cyient DLM Limited announced that they will report Q3, 2026 results on Jan 20, 2026 Board Change • Nov 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Ganesh Natarajan was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 15
Second quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2026 results: EPS: ₹4.05 (up from ₹1.95 in 2Q 2025). Revenue: ₹3.33b (down 14% from 2Q 2025). Net income: ₹321.5m (up 108% from 2Q 2025). Profit margin: 9.6% (up from 4.0% in 2Q 2025). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 7.9%. Earnings per share (EPS) exceeded analyst estimates by 76%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electronic industry in India. Duyuru • Oct 06
Cyient DLM Limited to Report Q2, 2026 Results on Oct 14, 2025 Cyient DLM Limited announced that they will report Q2, 2026 results on Oct 14, 2025 Reported Earnings • Jun 14
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: ₹8.58 (up from ₹8.42 in FY 2024). Revenue: ₹15.2b (up 28% from FY 2024). Net income: ₹680.8m (up 11% from FY 2024). Profit margin: 4.5% (down from 5.1% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) exceeded analyst estimates by 3.4%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electronic industry in India. Duyuru • Jun 12
Cyient DLM Limited, Annual General Meeting, Jul 03, 2025 Cyient DLM Limited, Annual General Meeting, Jul 03, 2025, at 11:00 Indian Standard Time. Reported Earnings • Apr 23
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: ₹8.58 (up from ₹8.42 in FY 2024). Revenue: ₹15.2b (up 28% from FY 2024). Net income: ₹680.8m (up 11% from FY 2024). Profit margin: 4.5% (down from 5.1% in FY 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) exceeded analyst estimates by 3.4%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Electronic industry in India. Price Target Changed • Apr 08
Price target decreased by 11% to ₹631 Down from ₹709, the current price target is an average from 6 analysts. New target price is 47% above last closing price of ₹428. Stock is down 39% over the past year. The company is forecast to post earnings per share of ₹8.50 for next year compared to ₹8.42 last year. Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹452, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 40x in the Electronic industry in India. Total loss to shareholders of 36% over the past year. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹501, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 44x in the Electronic industry in India. Total loss to shareholders of 25% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ₹215 per share. Reported Earnings • Jan 24
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: EPS: ₹1.39 (down from ₹2.33 in 3Q 2024). Revenue: ₹4.44b (up 38% from 3Q 2024). Net income: ₹109.9m (down 40% from 3Q 2024). Profit margin: 2.5% (down from 5.7% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 52%. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Electronic industry in India. Price Target Changed • Jan 22
Price target decreased by 14% to ₹711 Down from ₹823, the current price target is an average from 4 analysts. New target price is 38% above last closing price of ₹516. Stock is down 22% over the past year. The company is forecast to post earnings per share of ₹8.80 for next year compared to ₹8.42 last year. Buy Or Sell Opportunity • Dec 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.8% to ₹711. The fair value is estimated to be ₹895, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last year. Earnings per share has grown by 31%. Revenue is forecast to grow by 99% in 2 years. Earnings are forecast to grow by 195% in the next 2 years. Reported Earnings • Oct 23
Second quarter 2025 earnings released: EPS: ₹1.95 (vs ₹1.88 in 2Q 2024) Second quarter 2025 results: EPS: ₹1.95 (up from ₹1.88 in 2Q 2024). Revenue: ₹3.89b (up 33% from 2Q 2024). Net income: ₹154.5m (up 5.5% from 2Q 2024). Profit margin: 4.0% (down from 5.0% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 24% growth forecast for the Electronic industry in India. Duyuru • Aug 27
Cyient DLM Limited Appoints Mujeeb Rahiman as Head of Operations India Cyient DLM Limited announced the appointment of Mr. Mujeeb Rahiman as Head of Operations India, with effect from 26 August 2024. Mujeeb comes with 30+ years of rich experience in Plant Operations, Greenfield setup, SCM, Strategy Planning, Project Management, Industry 4.0 initiatives and ERP Implementation with well-known organizations. Mujeeb holds an MBA degree from XLRI Jamshedpur. Mujeeb joins it from SFO Technologies, where he was the Vice President Operations Strategy & Head High Volume Manufacturing. Prior to SFO, he worked in companies like Flextronics India, JABIL CIRCUIT INDIA, CELETRONIX INDIA and others. He has Experience in Lean Manufacturing Concept Deployment, A3 Strategy, SHINGO, Kaizen, Factory Automation & Industry 4.0. Well versed Operation, SCM of Products in the various product segment including Consumer, Industrial, Healthcare, Automotive, Aerospace & Defence. He has experience in high investment Greenfield & Brownfield setup and with >10,000 workforce/site in short period. He has Proven abilities in managing technically advanced, state of the art Operations & Material Systems and Processes in large global and domestics contract manufacture organization (EMS). Reported Earnings • Jul 23
First quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2025 results: EPS: ₹1.34 (up from ₹0.99 in 1Q 2024). Revenue: ₹2.67b (up 23% from 1Q 2024). Net income: ₹106.0m (up 98% from 1Q 2024). Profit margin: 4.0% (up from 2.5% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 2.3%. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Electronic industry in India. Reported Earnings • Apr 24
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: ₹8.42 (up from ₹7.75 in FY 2023). Revenue: ₹12.2b (up 47% from FY 2023). Net income: ₹612.0m (up 93% from FY 2023). Profit margin: 5.0% (up from 3.8% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 16%. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Electronic industry in India. Duyuru • Apr 05
Cyient DLM Limited Announces Cessation of Ram Dornala as Chief Operating Officer and Senior Management Personnel Cyient DLM Limited informed that Mr. Ram Dornala, Chief Operating officer and Senior Management Personnel of the Company will cease to be associated with the Company effective 03 April, 2024. Duyuru • Apr 01
Cyient DLM Limited to Report Q4, 2024 Results on Apr 23, 2024 Cyient DLM Limited announced that they will report Q4, 2024 results on Apr 23, 2024 Reported Earnings • Jan 25
Third quarter 2024 earnings released: EPS: ₹2.33 (vs ₹1.08 in 3Q 2023) Third quarter 2024 results: EPS: ₹2.33 (up from ₹1.08 in 3Q 2023). Revenue: ₹3.21b (up 50% from 3Q 2023). Net income: ₹184.4m (up 223% from 3Q 2023). Profit margin: 5.7% (up from 2.7% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Electronic industry in India. Duyuru • Jan 23
Cyient DLM Limited Announces Management Appointments Cyient DLM Limited announced the appointment of Dr. Ajay Kumar as Member of Nomination and Remuneration Committee and Dr. Ajay Kumar as Member of Stakeholder Relationship Committee. Below is the details of the re-constitution: Nomination and Remuneration Committee: Mr. Madan Pillutla (C); Ms. Vanitha Datla; Dr. Ajay Kumar and Mr. BVR Mohan Reddy. Stakeholder Relationship Committee: Ms. Vanitha Datla (C); Dr. Ajay Kumar; Mr. BVR Mohan Reddy and Mr. Krishna Bodanapu. CSR Committee: Mr. Murali Yadama (C); Mr. Madan Pillutla; Mr. BVR Mohan Reddy and Mr. Rajendra Velagapudi. The company also announced the appointment of Mr. Kaushal Jadia as Chief Technology Officer of the Company. Duyuru • Jan 02
Cyient DLM Limited to Report Q3, 2024 Results on Jan 23, 2024 Cyient DLM Limited announced that they will report Q3, 2024 results on Jan 23, 2024 Reported Earnings • Oct 19
Second quarter 2024 earnings released: EPS: ₹1.88 (vs ₹2.44 in 2Q 2023) Second quarter 2024 results: EPS: ₹1.88. Revenue: ₹2.92b (up 72% from 2Q 2023). Net income: ₹146.5m (up 106% from 2Q 2023). Profit margin: 5.0% (up from 4.2% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in India. Duyuru • Oct 05
Cyient DLM Limited to Report Q2, 2024 Results on Oct 16, 2023 Cyient DLM Limited announced that they will report Q2, 2024 results on Oct 16, 2023 Board Change • Aug 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive & Independent Director Murali Yadama was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 24
First quarter 2024 earnings released: EPS: ₹0.99 (vs ₹2.57 in 1Q 2023) First quarter 2024 results: EPS: ₹0.99 (down from ₹2.57 in 1Q 2023). Revenue: ₹2.17b (up 28% from 1Q 2023). Net income: ₹53.6m (down 15% from 1Q 2023). Profit margin: 2.5% (down from 3.7% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 41% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Electronic industry in India. Duyuru • Jul 16
Cyient DLM Private Limited to Report Q1, 2024 Results on Jul 21, 2023 Cyient DLM Private Limited announced that they will report Q1, 2024 results on Jul 21, 2023 
