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| Order Book | ₹2,813.7 CrAs of Sep 30, 2026 |
|---|---|
| Market Cap | ₹6,871.8 CrSmall Cap |
| P/E TTM | 81.83xSector 46.09x |
| 1-Year Return | 93.48%Price change |
Key highlights
- MoU signed on November 14, 2026, to explore collaboration in maritime and defense electronics
- Partner Hindustan Shipyard Limited is a Miniratna Category-I defense public sector undertaking
- Focus areas include mission-critical electronics, autonomous platforms, and AI-enabled maintenance
- Cyient DLM reported an all-time high order book of ₹2,813.7 crore as of September 30, 2026
- Collaboration aligns with the Government of India's Atmanirbhar Bharat indigenization goals
Collaborative Framework For Maritime Innovation
Cyient DLM and Hindustan Shipyard Limited have established a framework to evaluate cooperation across electronics, embedded systems, and power electronics. This collaboration integrates HSL's expertise in shipbuilding and platform integration with Cyient DLM's capabilities in precision manufacturing and product lifecycle support. The companies intend to address specific needs in the maritime ecosystem, such as obsolescence management and test support systems.
By combining their technical assets, the organizations aim to develop indigenous technology solutions that reduce reliance on imports for naval platforms and commercial vessels.
Targeting Advanced Defense Applications
- Development of indigenous navigation and communication systems for naval ships
- Exploration of autonomous and unmanned maritime platforms for defense use
- Implementation of AI-enabled maintenance solutions to improve vessel uptime
- Manufacturing of high-reliability printed circuit board assemblies for maritime electronics
- Provision of long-term lifecycle support for mission-critical shipborne systems
- Collaboration on technology development for indigenous defense manufacturing
Leadership Perspectives On Strategic Alignment
Our engagement with Hindustan Shipyard Limited brings together complementary strengths in shipbuilding and platform integration with Cyient DLM’s expertise in mission-critical electronics and manufacturing. We look forward to exploring opportunities where our combined capabilities can support indigenization.
Scaling Operations Amid Record Order Book
The partnership with HSL follows a period of significant growth for Cyient DLM, which recorded a revenue of ₹393.09 crore in the quarter ended September 30, 2026, marking a 26.5% year-on-year increase. The company's order book reached a record ₹2,813.7 crore during the same period, supported by recent strategic awards from global players like Thales and Boeing. Management has reiterated a revenue CAGR target of 25% to 30% over the medium term.
This new maritime initiative diversifies Cyient DLM's portfolio beyond its traditional aerospace and industrial electronics segments into the growing domestic naval defense market.
| Date | Announcement | Amount |
|---|---|---|
| 13 Nov 2026 | Strategic MoU with Hindustan Shipyard Limited (HSL) to jointly develop and manufacture indigenous navigation, communication, and naval ship electronics systemsSource: psuwatch.com | – |
| 10 Apr 2025 | Strategic partnership expansion with Deutsche Aircraft to design, develop, and manufacture the Cabin Management System (CMS) for the D328eco aircraftSource: cyientdlm.com | – |
| 17 Feb 2025 | Strategic long-term avionics manufacturing award from Thales to manufacture high-reliability Printed Circuit Board Assemblies (PCBAs) for next-generation flight avionicsSource: cyientdlm.com | – |
| 11 Feb 2025 | Production contract with Boeing Global Services (BGS) for precision-machined parts and assembliesSource: spsshownews.com | – |
| 04 Dec 2024 | Strategic MoU with Arcedo Systems to establish a 500 kWp rooftop solar power plant at the Mysore facility under a long-term Power Purchase AgreementSource: cyientdlm.com | – |
What to watch next
- Third-quarter FY27 financial results scheduled for announcement on January 19, 2027
- Specific project contracts arising from the HSL MoU during the first half of 2027
- Execution milestones for the long-term avionics manufacturing award from Thales
- Delivery of precision-machined parts for the Boeing Global Services production contract
“This MoU provides a framework for Hindustan Shipyard Limited and Cyient DLM to explore areas where our respective capabilities can complement each other. As India strengthens its indigenous maritime and defense ecosystem, collaboration across shipbuilding, electronics, technology and lifecycle support can play an important role.”
| Share price | ₹865.65 |
|---|---|
| Market capitalisation | ₹6,871.82 Cr |
| Revenue (annual) | ₹1,261.48 Cr |
| Net profit (annual) | ₹73.28 Cr |
| Revenue (latest quarter) | ₹393.09 Cr+5.16% vs previous quarter |
| Net profit (latest quarter) | ₹34.01 Cr+108.87% vs previous quarter |
| P/E (TTM) | 81.83×Sector 46.09× |
| Promoter holding | 52.11%0.00% QoQ |
| FII holding | 2.43%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Cyient DLM Limited announcing the signing of a Memorandum of Understanding with Hindustan Shipyard Limited. Market figures from a third-party data provider.
