Cyient DLM, a provider of electronics manufacturing and design-linked production services, announced its financial results for the quarter ended December 31, 2025. During the third quarter, the company reported revenue of INR 303.3 crores, reflecting a year-on-year decline of 31.7% amid softer demand conditions from customers. Normalized EBITDA stood at INR 30.94 crores, delivering a margin of 10.2% and marking an improvement of 207 basis points compared to the same period last year.
Normalized profit after tax for the quarter was INR 13.84 crores, accounting for 4.6% of revenue and representing a year-on-year margin expansion of 73 basis points. Reported PAT came in at INR 11.2 crores, or 3.7% of revenue, impacted by one-time expenses incurred during the quarter.
On a year-to-date basis, the company generated free cash flow of INR 754 million, reflecting continued focus on cash discipline and working capital management. Order intake for the year to date exceeded INR 1,400 crores, registering strong growth of 87% year on year and providing improved revenue visibility.
The quarter was affected by customer-side demand softness and certain temporary cost items. Despite these headwinds, the company sustained double-digit EBITDA margins, supported by a balanced revenue mix, cost controls, and focused execution. Ongoing improvements in risk identification and mitigation further strengthened operational readiness for mission-critical programs.
Operational momentum remained intact with new program wins totaling INR 387 crores across the medical, industrial, aerospace, and mobility sectors. The company added two new customers in high-reliability electronics manufacturing, expanded engagements with a precision motors manufacturer, a medical technology company, and a large industrial OEM, and expects volume ramp-ups in Q4. The Build-to-Specification business began converting to revenue during the quarter, aiding margin expansion, while recognition from Collins Aerospace through a Risk Mitigation Award underscored consistent delivery performance in mission-critical PCBAs.
Rajendra Velagapudi, Managing Director and CEO, said the company remains focused on execution discipline, customer delivery, and operational rigor. While near-term challenges persist, targeted actions are underway, and Cyient DLM continues to invest in building a durable platform for long-term growth. This includes expanding its global sales presence and sharpening its go-to-market approach across priority segments.
Established in 1993Â and listed on the NSE (Ticker: CYIENTDLM), Cyient DLM is a premier Design-Led Manufacturing (DLM) partner offering comprehensive solutions encompassing design, production, testing, and certification. The company specializes in safety-critical electronics for highly regulated sectors such as aerospace, defence, and industrial systems. With a strong global footprint, Cyient DLM continues to drive innovation and deliver high-reliability products that meet the evolving needs of customers worldwide.
