Cyient Q2 Results, October 22, 2026: DET EBIT Up 16.8%, ₹12 Dividend

Cyient Q2 results for the September 2026 quarter show the engineering services business getting its profitability back on track. Cyient DET, the company’s Digital, Engineering and Technology segment, reported revenue of ₹1,664 crore, up 8.1% from the June quarter and 15.7% from a year ago, according to the press release Cyient filed with NSE on October 22, 2026. The board also declared an interim dividend of ₹12 a share.

One thing to keep in mind before reading the numbers. Every figure in the headline list is for the DET segment, not for the whole Cyient group, which also includes the listed manufacturing arm Cyient DLM and the semiconductor business.

Cyient Q2 results: the DET numbers

• Revenue: ₹1,664 crore, up 8.1% quarter on quarter and 15.7% year on year.
• Organic growth: 2.1% quarter on quarter and 9.3% year on year.
• EBIT: ₹237 crore, a margin of 14.2% and 16.8% higher than the previous quarter.
• Profit after tax: ₹153 crore, up 8.7% quarter on quarter.
• Free cash flow: ₹214 crore, which the company puts at 139% of PAT.
• Order intake: up 20.8% year on year.

The gap between reported and organic growth is the first thing we’d look at. Year on year, revenue grew 15.7%, but only 9.3% came from the existing business. The rest came from acquired businesses, and the release mentions that Cyient is integrating TAO Digital, which adds platform software and data engineering skills. Quarter on quarter, the split is starker: 8.1% reported against 2.1% organic.

Margins tell the better story. Chief executive Sukamal Banerjee said EBIT was the highest in ten quarters. Operating profit growing 16.8% against revenue growth of 8.1% means the business kept more of each rupee it billed. Cash generation backs that up. Free cash flow at 139% of profit means the reported earnings turned into actual cash, and then some.

Orders, segments and the rest of the group

Banerjee called it Cyient’s highest-ever Q2 order intake. He said technology order intake rose 39.7% year on year. The Transportation and Mobility unit grew 4.5% quarter on quarter and 16.5% year on year in constant currency, its sixth straight quarter of growth.

Executive Vice Chairman and MD Krishna Bodanapu gave updates on the other two businesses:

• Cyient Semiconductors: revenue grew 8% quarter on quarter, its sixth straight quarter of growth, and the ASIC pipeline is above $100 million. He flagged that near-term supply constraints could hurt margins and growth. AI data-centre power products are expected to start bringing in revenue next fiscal year.
• Cyient DLM: a record order book with book-to-bill above 1.6x, and revenue up more than 26.5% year on year in rupee terms, led by aerospace and industrial.

Dividend and a small defence deal

According to the dividend filing, the ₹12 interim dividend is 240% of the ₹5 face value. The record date is October 28, 2026, and payment is due by November 17, 2026.

The board also approved buying the remaining 49% of Cyient Solutions and Systems Private Limited from Israel’s Blue Bird Aero Systems, which will make the drone-making unit a wholly owned subsidiary. The acquisition filing lists the price as ₹1,00,000 in cash and turnover over the last three years as nil. In money terms it’s tiny, but it gives Cyient full control of an aerospace and defence unit at a time when management calls defence one of its biggest growth areas.

What it means for investors

This was a cleaner quarter for DET than the headline growth alone suggests. Profit and cash flow improved faster than revenue. Organic growth of 2.1% quarter on quarter is modest, so it matters whether the strong orders turn into revenue over the next two quarters, and whether the semiconductor supply problems stay short-term. If you want to work through results like these yourself, our guide on how to analyse a company’s quarterly results covers the basics. For another report from the same day, see our Havells Q2 results coverage.

Disclaimer: This article is for information and education only and is not investment advice. Do your own research or consult a SEBI-registered adviser before investing.