Cyient DLM Q4 FY26: Order book builds as profits hit a four quarter high

Q4 FY26 revenue was INR 3,691 million, EBITDA was INR 431 million and PAT was INR 224 million (DLM Group figures in the investor presentation).

FY26 revenue was INR 12,615 million, down 17.0% YoY versus INR 15,196 million, as per the FY26 financial table.

The closing order book was INR 24,166 million at Q4 FY26 (shown in the dashboard and KPI trend slide).

Management cited an earnout reversal of INR 195.7 million in Q2, and wage code impact of INR 16.4 million plus M&A expenses of INR 17.7 million in Q3; these were adjusted in normalized EBITDA/PAT.

Aerospace 39%, Defence 10%, Industrial 28%, Med Tech 21% and Others 2% (Q4 FY26 revenue share slide).

PCBA 48%, Box Build 36%, Cables 1%, and Mech and Others 15% (Q4 FY26 revenue share slide).

No. Management explicitly stated it is not providing numeric revenue guidance for FY27, while indicating expectation of year-on-year growth across FY27 quarters.