DCX Systems Ltd
Incorporated in 2011, Dcx Systems Ltd is in the business of System Integration and Cable & Wire Harnessing[1]
- Market Cap ₹ 3,462 Cr.
- Current Price ₹ 311
- High / Low ₹ 393 / 223
- Stock P/E 50.8
- Book Value ₹ 100
- Dividend Yield 0.00 %
- ROCE 9.25 %
- ROE 8.08 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is expected to give good quarter
- Company has delivered good profit growth of 71.6% CAGR over last 5 years
Cons
- Stock is trading at 3.09 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -9.44%
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.46.2 Cr.
- Company has high debtors of 171 days.
- Working capital days have increased from 64.9 days to 128 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Aerospace & Defence Industry: Electronics - Components
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|
300 | 449 | 641 | 1,102 | 1,254 | 1,423 | |
295 | 443 | 631 | 1,035 | 1,170 | 1,353 | |
Operating Profit | 5 | 6 | 10 | 67 | 84 | 70 |
OPM % | 2% | 1% | 2% | 6% | 7% | 5% |
9 | 16 | 42 | 22 | 30 | 46 | |
Interest | 6 | 8 | 10 | 11 | 26 | 28 |
Depreciation | 1 | 1 | 2 | 2 | 2 | 2 |
Profit before tax | 7 | 13 | 40 | 76 | 86 | 85 |
Tax % | 37% | 24% | 26% | 13% | 16% | 20% |
5 | 10 | 30 | 66 | 72 | 68 | |
EPS in Rs | 13.11 | 27.83 | 84.46 | 8.48 | 7.41 | 6.11 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 37% |
3 Years: | 30% |
TTM: | 14% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 72% |
3 Years: | 32% |
TTM: | -5% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 40% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 19% |
3 Years: | 16% |
Last Year: | 8% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|
Equity Capital | 4 | 4 | 4 | 15 | 19 | 22 |
Reserves | 4 | 14 | 43 | 102 | 547 | 1,097 |
110 | 134 | 136 | 503 | 509 | 265 | |
371 | 548 | 610 | 322 | 143 | 418 | |
Total Liabilities | 489 | 699 | 793 | 943 | 1,219 | 1,802 |
6 | 17 | 16 | 15 | 15 | 45 | |
CWIP | 3 | 0 | 0 | 0 | 5 | 0 |
Investments | 4 | 0 | 0 | 0 | 0 | 4 |
476 | 682 | 778 | 928 | 1,199 | 1,753 | |
Total Assets | 489 | 699 | 793 | 943 | 1,219 | 1,802 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|
121 | 130 | 114 | -134 | -590 | 1 | |
7 | 8 | 21 | 21 | 22 | 19 | |
38 | 19 | -2 | 364 | 364 | 223 | |
Net Cash Flow | 166 | 157 | 133 | 251 | -204 | 243 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|
Debtor Days | 122 | 71 | 7 | 23 | 93 | 171 |
Inventory Days | 8 | 69 | 119 | 10 | 75 | 34 |
Days Payable | 96 | 135 | 77 | 35 | 44 | 104 |
Cash Conversion Cycle | 34 | 6 | 49 | -2 | 123 | 101 |
Working Capital Days | -188 | -229 | -217 | -66 | 132 | 128 |
ROCE % | 15% | 30% | 22% | 13% |
Documents
Announcements
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Compliances-Reg.24(A)-Annual Secretarial Compliance
24 May - Annual Secretarial Compliance Report for the financial year ended March 31, 2024.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
22 May - Earning Call transcript for the Audio call held for the Audited Financial results 31.03.2024.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
18 May - News paper clipping for the Audited financial results for the year ended March 31, 2024.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
17 May - Investor Conference Audio Call recordings for Quarter 4 and FY 2023-24.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
16 May - Press Release on the Q4 financial statement for the quarter and year ended March 31, 2024.
Concalls
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Oct 2023Transcript PPT
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Aug 2023Transcript PPT
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Jun 2023Transcript PPT REC
Business Overview:[1]
Company is primarily engaged in system integration and manufacturing a comprehensive array of cables and wire harness assemblies and are also involved in kitting. They evolved into a highly regarded Indian Offset Partner (“IOP”) for foreign original equipment manufacturers (“OEMs”), particularly in the aerospace and defence manufacturing sector.They are one of the largest Indian Offset Partner (“IOP”) for ELTA Systems Limited and Israel Aerospace Industries Limited, System Missiles and Space Division (together, the “IAI Group”), Israel, for the Indian defence market for manufacture of electronic sub-systems and cable and wire harness assemblies.