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© CYIENT DLM 2026 | Confidential INVESTOR PRESENTATION Q2 FY27
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© CYIENT DLM 2026 | Confidential2 | CONFIDENTIALITY STATEMENT The information shared herein is strictly confidential, proprietary and unique to the company. It is only made and shared for the purpose and extent it is intended for and no other. Usage or sharing of the said information in any form, directly or indirectly and in any manner whatsoever, might constitute a violation of laws or regulations in vogue in geographies in which the company operates, besides breaching confidentiality. The users shall meet any liability emanating from such violation and shall indemnify company for any loss, damage, expense, penalty, fine, fee, charges incurred by company on account of any such violation.
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© CYIENT DLM 2026 | Confidential3 | Subramanian RM Chief Financial Officer TODAY’S PRESENTERS Krishna Bodanapu Chairman Rajendra Velagapudi MD & Chief Executive Officer
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© CYIENT DLM 2026 | Confidential4 | Finance UpdatesBusiness Overview
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© CYIENT DLM 2026 | Confidential5 | GLOBAL EMS MARKET: A ~$1 Trillion Opportunity in the Making EMS spend compounds from ~$650 Bn toward ~$1 Tn; AI infrastructure, semicap and robotics are the fastest-growing pools $649 Bn Global EMS market, 2025 $853 Bn Base case 2030 · 5.6% CAGR ~$1.1 Tn Upside case 2030 · 9.8% CAGR $230 Bn High-reliability EMS by 2030 (DLM est.) THREE STRUCTURAL TAILWINDS EXPANDING CYIENT DLM’S ADDRESSABLE MARKET AI & Data Center Infrastructure $6.7 Tn Cumulative global data-center capex needed by 2030 (McKinsey) • Capacity demand to rise ~2.7x, from 82 GW (2025) to 219 GW (2030); AI ~70% of total • ~$3.1 Tn of AI capex flows to chips and computing hardware — the core electronics value pool • DLM view: ~$58 Bn addressable EMS opportunity Semiconductor Capital Equipment $165.9 Bn Record 2026 equipment sales, +23.2% YoY (SEMI) • Five straight years of growth to a record $229.5 Bn by 2028 • Driven by AI logic, HBM memory and advanced packaging investment • India: ISM incentives seed domestic equipment and subsystem manufacturing Robotics & Automation $111 Bn Global robotics market by 2030, ~14% CAGR from ~$50 Bn in 2025 (ABI Research) • Humanoid robots are the fastest-growing segment at ~40–47% CAGR to 2030 • Labor shortages and Industry 4.0 sustain multi-year automation investment • Rising sensor, motion-control and power content lifts EMS value per system Sources: MarketsandMarkets EMS report (Apr 2026); Stratistics MRC (upside case); McKinsey, “The cost of compute” (Apr 2025); SEMI Mid-Year Total Equipment Forecast (Jul 2026); ABI Research; BCC Research / TBRC (humanoids). High-reliability EMS and data-center EMS figures are Cyient DLM estimates.
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© CYIENT DLM 2026 | Confidential6 | STRATEGIC PIVOT: Path from ~9–11% to ~13–18% Margins 6 STRENGTHEN TODAY Foundation we bank on 4 INDUSTRIES · FOUNDATION Margins ~9–11% · proven core stack Aerospace & Defense Medical Industrial/Semicon Automotive / EV EXPAND FY27-29 Same stack, new sectors 7 INDUSTRIES · +3 NEW Margins ~11–13% · same stack, new sectors Aerospace & Defense Medical Industrial Automotive / EV Robotics AI Data Center TRANSFORM FY30+ B2S platform moat 7 INDUSTRIES · + NEW PLATFORMS Margins ~13–18% · B2S platform moat Aerospace & Defense Medical Industrial AI Data Center Robotics Automotive / EV Expanded Electronic Product Capabilities Semicon Cap Equipment Semicon Cap Equipment
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© CYIENT DLM 2026 | Confidential7 | Q2 HIGHLIGHTS: RECORD ORDER BOOK, PROFITABLE GROWTH 7 Record order book Order book at an all-time high, Q2 book-to-bill at 1.6x. Revenue growth 26.5% YoY , delivering continued revenue growth, strong growth in Aerospace and Industrial, continued traction in Defence and Medtech . Shifting Product Mix Box Build +86% YoY drives the shift to higher-value integration. New logo wins Three new logos added across core and new growth areas. Stronger global footprint Altek Electronics integration completed and renamed Cyient DLM Electronics Inc., extending reach to customers across geographies. Building the next growth engines Expanding into AI/data-center infrastructure, robotics and semiconductor capital equipment, while strengthening Build to Specification (B2S) or Electronics Products .
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© CYIENT DLM 2026 | Confidential8 | Finance UpdatesBusiness Overview
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© CYIENT DLM 2026 | Confidential9 | DASHBOARD – Q2 FY27 BUSINESS OVERVIEW FINANCE UPDATES Comments: • Strong performance driven by healthy order book and revenue growth. • Order book reached all-time high. • Normalized PAT grew 25.8% YoY to ₹158 Mn, keeping pace with revenue. • Normalized to Reported PAT bridge is due to one-off Earnout reversal of INR 182M ₹ 3,931 Mn ₹ 342 Mn ₹ 158 Mn ₹ 340 Mn 26.5% YoY 9.5% YoY 25.8% YoY 5.8% YoY ₹ 28,137 Mn 8.7% 4.0% 8.7% 2,148 Mn QoQ -135 bps YoY -2 bps YoY -170 bps YoY REVENUE EBITDA Reported PAT Order Book EBITDA Margin Reported PAT Margin Normalized PAT Normalized PAT Margin
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© CYIENT DLM 2026 | Confidential10 | 2784 3106 3033 3691 3738 3931 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 251 312 309 431 392 342 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 75 321 138 224 163 340 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 9.0% 10.0% 10.2% 11.7% 10.5% 8.7% Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 Revenue (INR Mn) EBITDA (INR Mn) Normalized PAT (INRMn) Normalized EBITDA % Normalized KEY KPI’s TREND 1 BUSINESS OVERVIEW FINANCE UPDATES Comments: • Q2 FY27 revenue continued its positive growth trend, reflecting strong business momentum • EBITDA margin reflects continued investment into sales, strategy and strengthening capabilities. • PAT: Excluding one off income of 182M, PAT will be INR 158M for the quarter, achieved 25.8% YoY One-off’s One-off’s 196 126 275 34 182 158
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© CYIENT DLM 2026 | Confidential11 | KEY KPI’s TREND 2 BUSINESS OVERVIEW FINANCE UPDATES All numbers are in Days and order book in ₹Mn * Operation free cash flow for Q2 FY27: INR 172Mn 185 172 195 153 162 162 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 74 72 76 74 77 73 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 71 73 83 64 63 68 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 165 139 160 145 161 153 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 21 33 28 18 15 13 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 21,318 22,911 23,494 24,166 25,989 28,137 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 Order Book (INR Mn) DIO (Days) DSO (Days) DPO (Days) Customer Advance (Days) NWC (Days)
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© CYIENT DLM 2026 | Confidential12 | Q2 FY27 REVENUE SHARE • Aerospace and Industrial segments leading the share and delivered 62% and 29% YoY growth respectively. • Defense segment YoY growth at 13% • Med Tech growth YoY growth at 14% • Rest of the World (ROW) share of business continues to be higher from increased demand in Aerospace, Medical & Industrial customers outside of India • India business Mix of 7% is primarily contributed from A&D, Auto Segment and Medical • PCBA business share continues to remain high and delivered 19% YoY growth • Box Build is the 2nd highest share in product category with YoY growth of 86% • Others share includes B2S. BUSINESS OVERVIEW FINANCE UPDATES 47% 7% 31% 14% 1% INDUSTRY Aerospace Defence Industrial Med Tech Auto & Others 48% 37% 2% 13% PRODUCT CATEGORY PCBA Box Build Cables Mech & Others 7% 93% MIX INDIA ROW
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© CYIENT DLM 2026 | Confidential13 | Q2 FINANCIALS – DETAILED BUSINESS OVERVIEW FINANCE UPDATES Amount in ₹ Mn Notes:. • DMC % is variance in Q2FY27 due to one-off Revenue mix impact and purchases towards product development. • Employee cost increase reflects investment into sales, strategy and capabilities. • Finance cost declined 10.4 % YoY , driven by lower working capital borrowings. • Other income includes one-off Earnout reversal in both Q2 FY26 and Q2 FY27 (INR 196M and INR 182M respectively) • Excluding one off income of 182M, Normalized PAT will be INR 158M for the quarter, with 25.8% growth YoY Revenue 3,931 3,106 26.5% Material cost 2,460 1,826 34.7% Employee Cost 679 529 28.2% Other Expense 450 439 2.5% EBITDA 342 312 9.5% EBITDA % 8.7% 10.0% -135 bps D&A 114 106 7.6% EBIT 228 206 10.4% EBIT % 5.8% 6.6% -85 bps Finance cost 61 68 -10.4% Other income 226 227 -0.2% Profit before Tax 393 365 7.7% Tax 53 43 22.4% Reported PAT 340 321 5.8% Reported PAT % 8.7% 10.3% -170 bps Normalized PAT 158 126 25.8% Normalized PAT % 4.0% 4.0% -2 bps Details Q2 FY26Q2 FY27 YoY %
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© CYIENT DLM 2026 | Confidential14 | DASHBOARD – H1 FY27 BUSINESS OVERVIEW FINANCE UPDATES ₹ 7,669 Mn ₹ 733 Mn ₹ 321 Mn ₹ 503 Mn 30.2% YoY 30.4% YoY 60.4% YoY 27.0% YoY ₹ 28,137 Mn 9.6% 4.2% 6.6% 5,226 Mn YoY 1 bps YoY 79 bps YoY -16 bps YoY REVENUE EBITDA Reported PAT Order Book EBITDA Margin Reported PAT Margin Normalized PAT Normalized PAT Margin Comments: • Strong H1 performance with revenue up 30.2% YoY , driven by healthy order book. • Order book reached all-time high of ₹28,137 Mn. • Normalized PAT grew 60.4% YoY to ₹321 Mn, ahead of revenue growth. • Normalized to Reported PAT bridge is due to one-off Earnout reversal of INR 182M
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© CYIENT DLM 2026 | Confidential15 | H1 FINANCIALS – DETAILED BUSINESS OVERVIEW FINANCE UPDATES Amount in ₹ Mn Notes: • DMC % increase is mainly flowing from Q2 FY27. Revenue mix and product development costs are the primary contributors. • Employee cost increase reflects investment in areas that focuses on growth. • Other expenses were optimized despite revenue growth • Finance cost declined 21% YoY , driven by lower working capital borrowings. • Other income is lower due to forex impact. • Normalized PAT is after reducing one-off income from earnout reversal (INR 196M and INR 182M in FY26 and FY27 respectively) Revenue 7,669 5,891 30.2% Material cost 4,780 3,491 36.9% Employee Cost 1,323 1,107 19.5% Other Expense 832 730 14.0% EBITDA 733 563 30.4% EBITDA % 9.6% 9.5% 1 bps D&A 225 211 6.6% EBIT 509 352 44.6% EBIT % 6.6% 6.0% 66 bps Finance cost 122 154 -20.8% Other income 229 268 -14.7% Profit before Tax 615 466 32.1% Tax 112 70 61.1% Reported PAT 503 396 27.0% Reported PAT % 6.6% 6.7% -16 bps Normalized PAT 321 200 60.4% Normalized PAT % 4.2% 3.4% 79 bps Details H1 FY26H1 FY27 YoY %
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© CYIENT DLM 2026 | Confidential16 | Q&A
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