SEBI Reg. Investment Advisor

Download App

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

₹464.70 -2.80 (-0.60%)

As on 25-Jun'26 16:59

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

₹464.70 -2.80 (-0.60%)

As on 25-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹3,689 Cr.
Current Price
₹464.7
52-Week Low / High
₹265 / 505
TTM EPS
₹7.1
TTM Sales
₹943 Cr.
Book Value per Share
₹124.1
P/E Ratio
65.50
Higher than its 5-year historical median
Industry PE
44.8
Price to Book (P/B)
3.75
Lower than its 5-year historical median
Price to Sales (P/S)
3.91
Higher than its 5-year historical median
EV/EBITDA
28.55
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
5.84%
Underperforms industry median
Return on Capital Employed (ROCE)
9.19%
In line with industry median
Return on Assets (ROA)
3.82%
Operating Profit Margin
11.5%
Net Profit Margin
5.98%
Gross Profit Margin
11.1%
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
-23.18%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-26.57%
Asset Quality
Promoter Holding
52.12%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹906 Cr.
Equity
₹79.4 Cr.
Face Value
₹10
All Time Low / High
₹264.95 / 882.90

Cyient DLM stock performance

Key Ratios
mw4me loader

Check Before You Invest

Quality

Locked
Login to view analysis.

Valuation

Locked
Login to view analysis.

Price Trend

Locked
Login to view analysis.
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 24.09%, compared to the industry median CAGR of 3.03%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Cyient DLM Ltd?
Promoters hold 52.12% 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 1 year(s), the stock has delivered a CAGR of -11.44% based on the current price.

10 Year X-Ray : Login to view analysis.

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
-0.5-0.8-0.5-0.7-0.10.60.20.1-0.1-0.3-

Growth Parameters

Sales 3453884804576287218321,1921,345943943
Sales YoY Gr.-12.3%23.9%-4.9%37.4%14.7%15.5%43.3%12.8%-29.9%-
Adj EPS -1.4-3.6-0.1-26.616.15.789.97.47.1
YoY Gr.-NANANANA146%-64.6%40.8%23.1%-25.3%-
BVPS (₹) 16.514.714.210.515.331.337.4114119.1124.1124.1
Adj Net
Profit
-3.3-8.8-0.3-516.139.730.263.778.558.856
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 - - - -0.3%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
-8.3-23-0.7-16.450.969.22211.58.465.7
Op. Profit
Mgn %
2.31.13.93.68.311.710.69.310.311.511.5
Net Profit
Mgn %
-1-2.3-0.1-1.12.65.53.65.45.86.26
Debt to
Equity
34.24.610.26.23.81.60.20.200
Working Cap
Days
191228241275219226253227228355188
Cash Conv.
Cycle
88112130148979410497119202111

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales3453884804576287218321,1921,345943
Operating Expenses + 3373844634435826367451,0841,209838
Manufacturing Costs12151378913162389
Material Costs2743083833654955446459201,009575
Employee Cost 32434644475265117129105
Other Costs 19192127323122314869
Operating Profit 841814468487107136105
Operating Profit Margin (%) 2.3%1.0%3.7%3.0%7.3%11.7%10.5%9.0%10.1%11.1%
Other Income + 12938987313020
Exceptional Items 0000000000
Interest 11111418212232343620
Depreciation 78811181919222829
Profit Before Tax 2-6-1-71651438210376
Tax 1-2-0-141111212620
Profit After Tax 1-4-1-7124032617756
PAT Margin (%) 0.2%-1.0%-0.2%-1.5%1.9%5.5%3.8%5.1%5.7%6.0%
Adjusted EPS (₹)0.2-1.6-0.4-2.74.816.26.07.79.77.1
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Cyient DLM - Standalone

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!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 403635263877198904945985
Share Capital 11111153797979
Reserves 393534243676145825866906
Debt +1171451572481982933141091160
Long Term Debt668656410010075500
Short Term Debt11013914818313419421534660
Minority Interest0000000000
Trade Payables9611496105190192285309226259
Others Liabilities 1949174208214210302276226189
Total Liabilities 2723444615876407731,0991,5971,5131,432

Fixed Assets

Net Fixed Assets +424848106186172161192203194
Gross Block87100107178272282267321355374
Accumulated Depreciation4551597186109106129152180
CWIP 00177231162
Investments 0000009066156156
Inventories93122179223155270425464484541
Trade Receivables10013812055226152162226299259
Cash Equivalents 2413606634122168537272121
Others Assets 1323546036539311192159
Total Assets 2723444615876407731,0991,5971,5131,432

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 12-132913374954-71-6252
PBT 2-6-1-71651438210376
Adjustment 21242631413751346031
Changes in Working Capital -11-314-11-20-33-23-168-200-35
Tax Paid 0-0-000-6-17-20-25-21
Cash Flow From Investing Activity + -9-14-10-83-1-32-142-428119159
Capex -10-15-12-83-27-8-8-34-48-43
Net Investments 000-00-25-135-405254176
Others 1020261011-8726
Cash Flow From Financing Activity + -1621-270-454672479-66-169
Net Proceeds from Shares 0000008970000
Net Proceeds from Borrowing 0126621000-25-75
Interest Paid -11-9-14-20-11-7-20-24-70-20
Dividend Paid 0000000000
Others -5291124-55534-19728-74
Net Cash Flow -13-7170-962-16-19-1041

Financial Ratio

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)1.46-10.03-2.62-22.1137.2969.3523.0811.118.35.84
ROCE (%)7.772.656.644.5513.0222.6616.9214.99139.19
Asset Turnover Ratio1.41.271.190.871.021.020.890.880.860.64
PAT to CFO Conversion(x)12N/AN/AN/A3.081.231.69-1.16-0.810.93
Working Capital Days
Receivable Days82.80110.6097.7069.6081.7095.9068.9059.4071.30108.10
Inventory Days95.40100.50114.40160.30109.90107.70152.40136.20128.70198.60
Payable Days108.90124.70100.10100.60108.70128.30135.10117.9096.80154.10

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 (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Cyient DLM Ltd FAQs

The current trading price of Cyient DLM on 25-Jun-2026 16:59 is ₹464.7.

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 24-Jun-2026 the market cap of Cyient DLM stood at ₹3,689 Cr

The latest P/E ratio of Cyient DLM as of 24-Jun-2026 is 65.50.

The latest P/B ratio of Cyient DLM as of 24-Jun-2026 is 3.75.

The 52-week high of Cyient DLM is ₹505.0 and the 52-week low is ₹264.9.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Cyient DLM is ₹943 ( 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 Fair 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.


To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through: