DCX Systems Ltd
Incorporated in 2011, Dcx Systems Ltd is in the business of System Integration and Cable & Wire Harnessing[1]
- Market Cap ₹ 2,742 Cr.
- Current Price ₹ 246
- High / Low ₹ 393 / 200
- Stock P/E 64.8
- Book Value ₹ 104
- Dividend Yield 0.00 %
- ROCE 5.10 %
- ROE 3.14 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Debtor days have improved from 106 to 52.6 days.
- Company's working capital requirements have reduced from 20.0 days to 15.6 days
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -4.69%
- Company has a low return on equity of 7.57% over last 3 years.
- Earnings include an other income of Rs.69.4 Cr.
* 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
Industrials Capital Goods Aerospace & Defense Aerospace & Defense
Part of BSE SmallCap BSE Allcap BSE Industrials Nifty India Defence
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 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|---|
300 | 449 | 641 | 1,102 | 1,254 | 1,423 | 1,112 | 1,194 | |
295 | 443 | 631 | 1,035 | 1,170 | 1,353 | 1,109 | 1,187 | |
Operating Profit | 5 | 6 | 10 | 67 | 84 | 70 | 3 | 7 |
OPM % | 2% | 1% | 2% | 6% | 7% | 5% | 0% | 1% |
9 | 16 | 42 | 22 | 30 | 46 | 68 | 69 | |
Interest | 6 | 8 | 10 | 11 | 26 | 28 | 10 | 6 |
Depreciation | 1 | 1 | 2 | 2 | 2 | 2 | 6 | 6 |
Profit before tax | 7 | 13 | 40 | 76 | 86 | 85 | 55 | 65 |
Tax % | 37% | 24% | 26% | 13% | 16% | 20% | 35% | |
5 | 10 | 30 | 66 | 72 | 68 | 36 | 42 | |
EPS in Rs | 13.11 | 27.83 | 84.46 | 8.48 | 7.44 | 6.11 | 3.20 | 3.80 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 20% |
3 Years: | 0% |
TTM: | -14% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 30% |
3 Years: | -18% |
TTM: | -33% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | -23% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 11% |
3 Years: | 8% |
Last Year: | 3% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|
Equity Capital | 4 | 4 | 4 | 15 | 19 | 22 | 22 |
Reserves | 4 | 14 | 43 | 102 | 548 | 1,097 | 1,132 |
110 | 134 | 136 | 503 | 504 | 265 | 0 | |
371 | 548 | 610 | 322 | 141 | 418 | 487 | |
Total Liabilities | 489 | 699 | 793 | 943 | 1,212 | 1,802 | 1,641 |
6 | 17 | 16 | 15 | 15 | 32 | 33 | |
CWIP | 3 | 0 | 0 | 0 | 2 | 0 | 0 |
Investments | 4 | 0 | 0 | 0 | 7 | 13 | 159 |
476 | 682 | 778 | 928 | 1,188 | 1,757 | 1,450 | |
Total Assets | 489 | 699 | 793 | 943 | 1,212 | 1,802 | 1,641 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|
121 | 130 | 114 | -134 | -586 | 1 | 444 | |
7 | 8 | 21 | 21 | 19 | 19 | -93 | |
38 | 19 | -2 | 364 | 358 | 223 | -272 | |
Net Cash Flow | 166 | 157 | 133 | 251 | -209 | 243 | 78 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|
Debtor Days | 122 | 71 | 7 | 23 | 93 | 171 | 53 |
Inventory Days | 8 | 69 | 119 | 10 | 75 | 34 | 58 |
Days Payable | 96 | 135 | 77 | 35 | 44 | 104 | 29 |
Cash Conversion Cycle | 34 | 6 | 49 | -2 | 124 | 101 | 82 |
Working Capital Days | -188 | -229 | -295 | -220 | -16 | 60 | 16 |
ROCE % | 15% | 30% | 22% | 13% | 9% | 5% |
Documents
Announcements
-
Intimation Of Receipt Of Purchase Orders By The Company.
29 Sep - Purchase orders worth INR 49.89 Crores: INR 30.32 Cr from ELTA, INR 19.57 Cr from other customers.
- Closure of Trading Window 29 Sep
-
Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
26 Sep - AGM on September 26, 2025: All resolutions passed, including FY2024-25 financials adoption and Chairman MD reappointment.
- Shareholder Meeting / Postal Ballot-Outcome of AGM 26 Sep
-
General Update On Signing Of Memorandum Of Understanding(MOU) With Government Of Tamil Nadu.
12 Sep - Signed MOU on Sept 11, 2025 to set up JV manufacturing facility in Hosur with ELTA Systems.
Annual reports
Concalls
-
Aug 2025TranscriptNotesPPT
-
May 2025Transcript PPT
-
Feb 2025TranscriptNotesPPT
-
Nov 2024Transcript PPT
-
Aug 2024Transcript PPT REC
-
May 2024Transcript PPT
-
Feb 2024Transcript PPT
-
Oct 2023Transcript PPT
-
Aug 2023Transcript PPT
-
Jun 2023Transcript PPT REC
Business Overview [1]
DCX Systems Limited is engaged in system integration, cable and wire harness manufacturing, and kitting services for the aerospace and defense sectors. The company is established as a leading Indian Offset Partner (IOP) for global OEMs, particularly in defense electronics. It is one of the largest IOPs for ELTA Systems Limited and Israel Aerospace Industries (IAI Group), Israel, catering to the Indian defense market by manufacturing electronic sub-systems and cable & wire harness assemblies.