Cyient DLM Shares Fall 5.6% Post Q4 Result; Prabhudas Lilladher Cuts Target but Stays Positive with 18% Upside

Cyient DLM, a Bangalore-based company involved in design-led manufacturing and a subsidiary of Cyient Ltd, recently reported its Q4 results on 22nd April, where the company posted an 18.3% rise in revenue for the quarter that ended on March 31st, 2025. The March quarter results were exceptionally good for the company, due to which the shares of Cyient DLM yesterday surged as much as 12% intraday.

However, today Cyient DLM shares are trading 5.6% lower after Prabhudas Lilladhara downgraded the stock, expecting the first quarter of FY26 to be soft.

Cyient DLM Share Today

As of 25th April 2025, shares of Cyient DLM opened slightly higher than the previous close of Rs. 482.95. However, the gains were short-lived as the prices fell 5.16% to Rs. 457.60 intraday. Current shares of Cyient DLM are trading at Rs 455.15, down 5.67% at the time of writing. In the last six months the stock has dropped more than 25% and almost 32% so far this year. Cyient DLM shares are also down 42% from their 52-week high range of Rs. 817, which was attained in July 2024.

Cyient DLM Share Price Target

Prabhudas Lilladhar In its research report, it stated that "We cut our FY26/FY27E EPS estimates significantly by 23.5%/21.1% due to continuous reduction in order book, no clarity of replacement of BEL contract and weaker than expected execution. However, with a double-digit margin reported even after excluding the one-off in Q4 FY25, CYIENTDL is confident to report a 10%+ EBITDA margin in FY26. We have revised TP to Rs546 (Rs692 earlier), based on 30x FY27E earnings, and downgraded our recommendation to 'Accumulate' from 'BUY'.

Cyient DLM Strong Q4 results

In Q4 of the financial year 20024-25, Cyient DLM posted a massive rise in its net profit, which was up 36.5% YoY at Rs 31 crore; in the same quarter last year, it was Rs 22.7 crores. The revenue from operation of the company also stood at Rs. 428 crore, up 18.3% YoY from the Rs. 361.8 crore last year in the same quarter. EBIDTA stood at Rs. 57.3 crore, which was up 51.2% from the previous year.

"The aerospace, industrial, and medtech segments performed very well, growing by 56%, 84%, and 270%, respectively, compared to last year. However, the Rail and Defence segments saw a drop in sales by 41% and 43% year-on-year. This was mainly because a major domestic defence order ended earlier than expected." as per the PL Capital report.

Currently, the aerospace segment contributes 33% and the defence segment 27% to the company's total revenue. Operating profit margins improved by about 2.9 percentage points to 13.4%. After removing one-time items, the adjusted margin was 10.9%. Profit before tax (PBT) went up by 35.2% to Rs 41.7 crores, higher than market estimates.

The company's order book stood at Rs. 1900 crore at the end of Q4 FY25, compared to Rs. 2100 crore in the same quarter last year, the report further mentioned.

About Cyient DLM

Cyient DLM is a Bengaluru-based electronics manufacturing company specialising in Design-Led Manufacturing (DLM) solutions. Established in 1993, it operates as an independent entity under the Cyient Group, focusing on high-reliability electronics for sectors such as aerospace, defence, and medical technology. The company offers end-to-end services encompassing design, manufacturing, testing, and certification. Its core product offerings include

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