Shares of Cyient DLM Ltd. climbed as much as 18% to a 52-week high on Wednesday following the announcement of robust financial results for the quarter ended June 30, 2026. The electronics manufacturing services (EMS) company reported a significant jump in profitability and revenue, alongside a record-high order book. This strong performance has led to varied recommendations from brokerage firms regarding the stock.
Strong Q1 FY27 Performance Fuels Rally
For the first quarter of fiscal year 2027, Cyient DLM reported a consolidated net profit of Rs 16.3 crore, representing more than a two-fold increase year-over-year. Revenue from operations also saw substantial growth, rising 34.3% year-on-year to Rs 373.8 crore. The company's order book reached an impressive Rs 2,598.9 crore, demonstrating strong future revenue visibility, with margins expanding by 147 basis points to 10.5% during the quarter.
The stock's rally pushed its market capitalization close to the Rs 6,000 crore mark. Notably, Cyient DLM shares have zoomed over 175% from their 52-week low of Rs 264.95, which was hit nearly four months ago on March 30, 2026.
Brokerage Views: Hold vs. Buy
Brokerage firms have offered differing opinions on Cyient DLM's stock post-results. PL Capital acknowledged the strong start to FY27, highlighting the record order book and a healthy book-to-bill ratio of 1.5 times. The firm noted management's expectation for robust order momentum, supported by expansion into AI data centers, robotics, and semiconductor equipment, alongside growth in its B2S (Build-to-Specification) business.
PL Capital stated, "We estimate FY26-28E revenue, EBITDA and PAT CAGR of 31.4 per cent, 38.4 per cent and 34.1 per cent with margin expansion of 110bps." Based on this outlook, PL Capital issued a 'hold' rating with a target price of Rs 635.
In contrast, Motilal Oswal Financial Services reiterated a 'buy' rating for Cyient DLM, setting a target price of Rs 800. They emphasized that the company is entering a multi-year growth phase, driven by increasing contributions from higher-margin box-build and B2S offerings, ramp-up in aerospace programs, and expansion into AI infrastructure, robotics, and semiconductor equipment.
Motilal Oswal projected, "We expect FY27 to mark the beginning of an accelerated earnings growth cycle, supported by operating leverage, an improving product mix and rising contributions from high-value engineering-led programs. We estimate a CAGR of 27 per cent, 40 per cent and 67 per cent in revenue, ebitda and adjusted PAT over FY26-28E."
Cyient DLM's Growth Trajectory
Cyient DLM launched its initial public offering (IPO) in July 2023, offering shares at Rs 265 apiece and raising Rs 592 crore. Since its listing, the stock has delivered significant multi-bagger returns for investors. The company's strategic focus on high-reliability electronics manufacturing and its expansion into emerging technology sectors like AI and robotics are expected to support its continued growth trajectory and margin expansion in the coming years.