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'Buy' Cyient DLM Stock Maintains Motilal Oswal Post Inline Q2 Operating Performance — Check Target Price
Favorable business mix supports CYient DLM's margin expansion, adds the brokerage.
15 Oct 2025, 11:09 AM IST 
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Cyient DLM consolidated revenue declined 20% YoY to Rs 3.1 billion (estimate inline) in Q2 FY26 due to a high base of Q2 FY25, which included a large order from BEL.
(Photo Source: Cyient DLM website)
Cyient DLM’s Q2 FY26 consolidated revenue/Ebitda declined ~20%/1% YoY to Rs 3.1 billion/Rs 312 million. However, Ebitda margins expanded 190bp YoY to 10% (estimate 9.7%), led by a better business mix (higher Aerospace mix of 37%).
