Cyient DLM Limited (CYIENTDLM.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-107.3%

-₹53.92

vs ₹734.75 price

Levered DCF

-₹259.33

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

6.74

Safe zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	29.5×	53.78×	83.71×	54.27×	26.01×	188.61×	-331.18×	-2,336.67×
P/B	2.14×	3.86×	5.64×	8.7×	13.42×	59.06×	86.5×	63.67×
P/S	1.71×	2.41×	4.3×	2.07×	1.44×	3.54×	4.86×	4.61×
EV / EBITDA	17.7×	23.97×	37.99×	21.69×	14.08×	45.38×	151.93×	125.02×
Gross margin	19.0%	11.3%	22.4%	22.5%	13.4%	9.6%	7.0%	19.7%
Operating margin	6.7%	6.9%	12.4%	8.3%	9.2%	5.4%	1.2%	2.5%
Net margin	5.8%	4.5%	5.1%	3.8%	5.5%	1.9%	-1.5%	-0.2%
Current ratio	2.49×	2.4×	2.46×	1.13×	1.14×	0.9×	0.84×	0.94×
Debt / equity	0.17×	0.32×	0.21×	1.8×	4.37×	7.41×	11.98×	4.59×
Interest coverage	3.09×	2.78×	4.31×	2.18×	3.03×	1.62×	0.31×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	7.2%	7.2%	6.7%	16.0%	51.6%	31.4%	-26.1%	-2.7%
Return on invested capital	5.6%	6.1%	9.8%	8.7%	11.4%	7.7%	1.5%	6.0%
Return on assets	4.5%	4.0%	3.8%	2.9%	5.1%	1.8%	-1.1%	-0.2%
Free cash flow yield	0.4%	-6.2%	-2.0%	2.6%	3.9%	0.3%	-3.8%	0.8%
Earnings yield	3.4%	1.9%	1.2%	1.8%	3.8%	0.5%	-0.3%	-0.0%
Enterprise value	₹22.4B	₹39.2B	₹52.8B	₹20B	₹12.9B	₹24.9B	₹24.7B	₹23.6B
Net debt / EBITDA	0.65×	1.56×	1.08×	3.02×	2.83×	4.82×	14.9×	7.26×
Cash conversion cycle (days)	223	170	133	152	123	110	172	169