Cyient DLM (CYIENTDLM) Q4 24/25 earnings summary

Executive summary

• FY25 consolidated revenue rose 27.5% to ₹15,196.26M; adjusted EBITDA increased 30.8% to ₹1,452M and adjusted PAT rose 21% to ₹740M.

• Q4 consolidated revenue grew 18.3% to ₹4,280.55M; quarterly EBITDA and PAT were highest since listing. Standalone Q4 revenue declined 5.9% YoY.

• Altek’s consolidation expanded U.S. manufacturing presence and diversified exposure, particularly in Medical and Industrial.

Financial highlights

• Q4 revenue was ₹4,280.55M, EBITDA ₹574M and PAT ₹310M, up 18.3%, 50.9% and 36.5% YoY, respectively.

• FY25 reported EBITDA was ₹1,372M, up 23.6% YoY; reported PAT was ₹680.76M, up 11.3% YoY. Adjusted EBITDA and PAT were ₹1,452M and ₹740M.

• Standalone FY25 revenue was ₹13,449.60M, up 12.8%; Q4 standalone revenue was ₹3,403M, down 5.9% YoY.

• Q4 EBITDA growth reflected business mix, operational efficiency and one-off impacts; higher expenses included Altek consolidation and its different cost structure.

Outlook and guidance

• FY26 may start softly, with management expecting a stronger year as pipeline opportunities convert; no formal revenue guidance was provided.

• Margins are expected to remain in double digits, with potential improvement as mix shifts away from lower-margin Defense contracts; some Q4 gains were non-recurring.

• Priorities include North American defense and ITAR work, larger strategic deals, Medical and Industrial diversification, and build-to-specification offerings.

• Inorganic expansion may target technology, client proximity, geographic reach and capabilities, including potential acquisitions in North America and EMEA.