Cyient DLM Q1: consolidated PAT more than doubles YoY to ₹16.3 Cr on 34% revenue jump
Cyient DLM opened FY27 with a decisive return to growth: consolidated revenue rose 34.3% YoY to ₹373.8 Cr (from ₹278.4 Cr) and net profit more than doubled to ₹16.3 Cr (+118% YoY vs ₹7.5 Cr), reversing the ~17% revenue decline the company posted in FY26. Net margin widened to 4.4% from 2.6% a year ago and EBITDA margin held in double digits at ~10.5% (FY26: 10.3%), so the profit surge is operating leverage, not other income — reported other income was near-nil at ₹0.3 Cr versus ₹4.2 Cr in the year-ago quarter, meaning the bottom line grew despite a weaker non-operating line. This is a genuinely strong, YoY-clean print (no exceptional items either side of the comparison).
Sequentially the picture is flatter and needs a caveat: revenue edged up just 1.3% QoQ and PAT fell 27% from Q4's ₹22.4 Cr, but Q4 carried a ~₹5.1 Cr one-off other-income gain (earnout liability fair-valuation) that inflated its base — strip that and the sequential operating trend is broadly stable rather than deteriorating. On expectations, there is no published Q1-specific street consensus; against management's own last-call guidance the quarter is on track — the promised 'return to growth' has arrived and the commitment to sustain double-digit EBITDA margins was met. The result lands alongside the board confirming Dr. Ganesh Natarajan to the board of US subsidiary Cyient DLM Inc and follows a quarter of leadership additions (Ramakanth Alapati as President & CSO), consistent with the stated push into automotive and AI-infrastructure and higher-value build-to-spec work. The swing factor into H2 remains execution of the record ₹2,416.6 Cr order book (1.5x book-to-bill), which underwrites the FY27 growth thesis but has yet to translate into margin expansion beyond the double-digit floor.