MoneyWorks4Me

Cyient DLM Ltd (CYIENTDLM)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543933 NSE: CYIENTDLM Electronics - Components | Small Cap | Cyient DLM Share Price

₹916 3.10 (0.34%)

As on 22-Sep'26 13:33

Cyient DLM Ltd (CYIENTDLM)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543933 NSE: CYIENTDLM Electronics - Components | Small Cap | Cyient DLM Share Price

₹916 3.10 (0.34%)

As on 22-Sep'26 13:33

Key Metrics
Valuation Multiples
Market Cap
₹7,247 Cr.
Current Price
₹916
52-Week Low / High
₹265 / 1,010
TTM EPS
₹10.3
TTM Sales
₹1,357 Cr.
Book Value per Share
₹129
P/E Ratio
88.27
Higher than its 5-year historical median
Industry PE
51.2
Price to Book (P/B)
7.07
Higher than its 5-year historical median
Price to Sales (P/S)
5.34
Higher than its 5-year historical median
EV/EBITDA
41.71
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
7.53%
Underperforms industry median
Return on Capital Employed (ROCE)
10.41%
Outperforms industry median
Return on Assets (ROA)
4.43%
Operating Profit Margin
10.1%
Net Profit Margin
5.81%
Gross Profit Margin
10.8%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-29.91%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-8.3%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
7.64%
Asset Quality
Promoter Holding
52.11%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹945 Cr.
Equity
₹79.4 Cr.
Face Value
₹10
All Time Low / High
₹264.95 / 1009.90

Cyient DLM stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Overvalued

Price Trend

Strong
Q.1 Is Cyient DLM Ltd a good quality company?
Cyient DLM Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Cyient DLM Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Cyient DLM Ltd vs industry peers?
Cyient DLM Ltd revenue CAGR is 23.23%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Cyient DLM Ltd?
Promoters hold 52.11% of the Cyient DLM Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Cyient DLM Ltd over the last decade?
Over the last 3 year(s), the stock has delivered a CAGR of 11.89% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Cyient DLM Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 7.8%2.7%6.6%4.6%13%22.7%16.9%15%13%9.2%-
Value Creation
Index
-0.4-0.8-0.5-0.70.00.70.20.1-0.1-0.3-

Growth Parameters

Sales 3453884804576287218321,1921,3459431,019
Sales YoY Gr.-12.3%23.9%-4.9%37.4%14.7%15.5%43.3%12.8%-29.9%-
Adj EPS -1.4-3.6-0.1-26.616.15.789.97.47.8
YoY Gr.-NANANANA146%-64.6%40.8%23.1%-25.3%-
BVPS (₹) 16.514.714.210.515.331.337.4114119.1124.1126.2
Adj Net
Profit
-3.3-8.8-0.3-516.139.730.263.778.558.862
Cash Flow from Ops. 11.8-13.528.913.336.948.554-70.5-6251.5-
Debt/CF from Ops. 10.3-11.25.619.76.365.8-1.9-2.30-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 11.8%8.5%4.3%-29.9%
Adj EPS NA2.4%9%-25.3%
BVPS25.2%52%49.1%4.2%
Share Price - - 11.1% 91.6%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
-8.3-23-0.7-16.450.969.22211.58.466.2
Op. Profit
Mgn %
2.31.13.93.68.311.710.69.310.311.511.4
Net Profit
Mgn %
-1-2.3-0.1-1.12.65.53.65.45.86.26.1
Debt to
Equity
34.24.610.26.23.81.60.20.20-
Working Cap
Days
191228241275219226253227228355188
Cash Conv.
Cycle
88112130148979410497119202111

Valuation of Cyient DLM - Consolidated

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'15Mar'16Mar'23Mar'24Mar'25Mar'26
Sales4442568321,1921,5201,261
Operating Expenses + 4062407451,0841,3851,138
Manufacturing Costs1716131629101
Material Costs3621896459201,108752
Employee Cost 172265117186227
Other Costs 101322316258
Operating Profit 381787107135123
Operating Profit Margin (%) 8.5%6.4%10.5%9.0%8.9%9.8%
Other Income + 637312940
Exceptional Items -4-110000
Interest 111332343827
Depreciation 4619223443
Profit Before Tax 25-1043829293
Tax 9-311212420
Profit After Tax 17-732616873
PAT Margin (%) 3.7%-2.7%3.8%5.1%4.5%5.8%
Adjusted EPS (₹)6.7-2.86.07.78.69.2
Dividend Payout Ratio (%)80.50%0%0%0%0%0%
PARTICULARSMar'15Mar'16Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 47401989049391,008
Share Capital 1153797979
Reserves 4639145825859929
Debt +8912131410921478
Long Term Debt861007514878
Short Term Debt8111521534660
Minority Interest000000
Trade Payables4971285309250273
Others Liabilities 1523302276278270
Total Liabilities 2002561,0991,5971,6811,629

Fixed Assets

Net Fixed Assets +3540161192346355
Gross Block6777267321504556
Accumulated Depreciation3237106129158201
CWIP 321162
Investments 0090663130
Inventories6198425464571647
Trade Receivables3466162226347307
Cash Equivalents 5334168537288126
Others Assets 15179311192162
Total Assets 2002561,0991,5971,6811,629
PARTICULARSMar'15Mar'16Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + -0-3454-71-6254
PBT 25-1043829293
Adjustment 122851346932
Changes in Working Capital -27-52-23-168-198-49
Tax Paid -100-17-20-26-22
Cash Flow From Investing Activity + -8-4-142-428127164
Capex -14-6-8-34-50-45
Net Investments 00-135-405138184
Others 720113824
Cash Flow From Financing Activity + -171972479-59-188
Net Proceeds from Shares 008970000
Net Proceeds from Borrowing 2000-16-81
Interest Paid -100-20-24-70-29
Dividend Paid -1300000
Others 4194-19727-78
Net Cash Flow -25-20-16-19630
PARTICULARSMar'15Mar'16Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)35.21-15.926.6611.117.397.53
ROCE (%)25.691.8822.0714.9911.5610.41
Asset Turnover Ratio2.231.161.230.880.930.76
PAT to CFO Conversion(x)-0N/A1.69-1.16-0.910.74
Working Capital Days
Receivable Days27.7069.205059.4068.9094.70
Inventory Days49.60109.30114.70136.20124.40176.30
Payable Days49115.40100.70117.9092126.90

Top 5 Mutual Funds Holding

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Announcements

Cyient DLM Ltd FAQs

The current trading price of Cyient DLM on 22-Sep-2026 13:33 is ₹916.0.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 21-Sep-2026 the market cap of Cyient DLM stood at ₹7,246.9 Cr

The latest P/E ratio of Cyient DLM as of 21-Sep-2026 is 117.4.

The latest P/B ratio of Cyient DLM as of 21-Sep-2026 is 7.24.

The 52-week high of Cyient DLM is ₹1,009.9 and the 52-week low is ₹264.9.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Cyient DLM is ₹1,019 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Cyient DLM Ltd is a average quality company.

The key valuation ratios of Cyient DLM Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Cyient DLM Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Cyient DLM Ltd

The company was originally incorporated as ‘Rangsons Electronics Private Limited’ at Mysuru, Karnataka as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated June 30, 1993 issued by the Registrar of Companies, Karnataka at Bengaluru. The name of the company was changed to ‘Cyient DLM Private Limited’ pursuant to a special resolution passed by its Shareholders on December 22, 2016 and a fresh certificate of incorporation pursuant to a change of name dated January 18, 2017 was issued by the Registrar of Companies, Karnataka at Bengaluru. Subsequently, pursuant to a change in its registered office by way of a resolution passed by its Shareholders on August 1, 2019, a certificate of registration of regional director order in relation to the change of State was issued by the RoC on July 3, 2020. The company was converted from a private limited company to a public limited company pursuant to a special resolution passed by its Shareholders on November 25, 2022, and the name of the company was changed to ‘Cyient DLM Limited’. A fresh certificate of incorporation dated December 13, 2022 consequent upon change of name on conversion to a public limited company was issued by the RoC.

Cyient DLM has been a trusted electronics and mechanical manufacturing partner and systems supplier to some of the largest players across multiple industries. As an integrated manufacturing partner that provides Design Led Manufacturing (DLM) solutions to customers, it takes ownership of design, manufacturing, testing, and certification support to ensure that customers' products meet robust standards in reliability, safety, and performance. It has expertise in safety-critical electronics in highly regulated industries. Its engineers have significant design and manufacturing expertise that helps its customers build complex products and achieve faster time-to-market.

It is an integrated Electronic Manufacturing Services (EMS) and solutions provider with a focus on the entire life cycle of a product, including design, build and maintain. its solutions primarily comprise manufacture of: (i) printed circuit board (PCB) assembly (PCBA), (ii) cable harnesses, and (iii) box builds which are used in safety critical systems such as cockpits, inflight systems, landing systems, and medical diagnostic equipment, which it provides to its clients as Build-to-print (B2P) or Build-to-specification (B2S) services. It was incorporated on June 30, 1993 and have many years of experience in developing high mix, low-to-medium volume highly complex systems. 

Business area of the company

The company is engaged in providing total electronic manufacturing solutions in the fields of medical, industrial, automotive, telecommunication, defense and aerospace applications and machining of components for aerospace, automotive and defense industries.

Products and Services of the company 

  • PCB assembly 
  • Cable harnesses 
  • Box builds
  • Build-to-print (B2P)
  • Build-to-specification (B2S) 

Awards, accreditations or recognitions

  • 2000: Awarded the ‘Supplier Performance Award’ by GE Medical Systems, South Asia.
  • 2005: Awarded the ‘Best Supplier - Printed Circuit Assembly for 2004-05’ by Larsen and Toubro Limited.
  • 2007: Awarded the ‘Best Supplier Award - Printed Circuit Assembly for the year 2006-07’ by Larsen and Toubro Limited.
  • 2011: Awarded for ‘Excellence in Quality, Cost & Delivery for the year 2010’ by Bosch Limited.
  • 2012: Awarded for ‘High Growth in Electronic Hardware Exports - Tier II & III Region in 2011-12’ by Software Technology Parks of India.
  • 2013: Awarded for ‘Excellence in Quality, Cost & Delivery for the year 2012’ by Bosch Limited.
  • 2013: Awarded the ‘Award for ABB Sustainability’ by ABB Inc.
  • 2014: Awarded the ‘Bosch Supplier Award’ for the India region by Bosch Limited.
  • 2014: Awarded the ‘Supplier Award’ by ABB Inc.
  • 2014: Awarded the ‘Best Electronics Manufacturing Services Company Award’ by India Electronics and Semiconductor Association (IESA).
  • 2014: Awarded for ‘Best Performance in Highest Growth in Electronic Hardware Exports - Tier II & III Region in 2013-14’ by Software Technology Parks of India.
  • 2015: Awarded the ‘Performance Award’ by ABB Inc.
  • 2014: Awarded for ‘Best Performance in High Growth in Electronic Hardware Exports - Tier II & III Regions in 2014-15’ by Software Technology Parks of India.
  • 2017: Awarded the ‘Lakshya 2020’ award by Bosch Limited.
  • 2019: Awarded the ‘Platinum (First) Prize in Manufacturing Sector (Medium Category)’ by Federation of Indian Chambers of Commerce and Industry (FICCI).
  • 2020: Awarded for ‘On Conformity Delivery performance’ by the Thales Group.
  • 2020: Awarded for being the ‘Highest Exporter in Electronic Hardware – Tier II & III Region in 2019-20’ by Software Technology Parks of India.
  • 2021:  Awarded the ‘Partnership Recognition for 2020-21’ certificate by Bharat Electronics Limited.
  • 2022: Received accreditation from NADCAP for ‘Electronics - Cable and Harness Assemblies’.
  • 2022: Received accreditation from NADCAP for ‘Electronics Printed Board Assemblies’.

History and milestone

  • 1993: Incorporation of the company.
  • 2015: Acquisition of 1,011,580 Equity Shares amounting to 74.00% of the equity share capital of the company by Cyient Limited.
  • 2016: Change in the name of the company from ‘Rangsons Electronics Private Limited’ to ‘Cyient DLM Private Limited’.
  • 2018: Merger of Techno Tools Precision Engineering Private Limited, an erstwhile wholly owned subsidiary, into of the company.
  • 2019: Acquisition of remaining 355,420 Equity Shares amounting to 26.00% of the equity share capital of the company by Cyient Limited.
  • 2020: Established a manufacturing facility in Hyderabad.
  • 2022: Entered into a New Product Introduction Contract with Honeywell Inc. for the supply of next generation cockpit avionics modules.


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