DCX Systems Ltd

DCX Systems Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

DCX Systems Ltd

₹ 203 4.78%
19 Jun 11:39 a.m.
dcxindia.com BSE: 543650 NSE: DCXINDIA
About

Incorporated in 2011, Dcx Systems Ltd is in the business of System Integration and Cable & Wire Harnessing[1]

Key Points

Business Overview:[1]
The company operates across system integration, cable and wire harness assembly, printed circuit board assembly (PCBA), kitting, and maintenance, repair & overhaul (MRO). It positions itself as an end-to-end, build-to-print integrated solution provider for global defence original equipment manufacturers (OEMs), operating under both Indian Offset Partner (IOP) and non-IOP frameworks.
It holds a 4-Star Export House recognition
and is certified under AS-9100:2016 and ISO 9001:2015 for aviation, space, and defence product manufacturing. It holds a Defence Industrial License from the Ministry of the
Commerce and Industry for the manufacture
of key defence products. [2]

Website BSE NSE
  • Market Cap ₹ 2,257 Cr.
  • Current Price ₹ 203
  • High / Low ₹ 303 / 153
  • Stock P/E
  • Book Value ₹ 136
  • Dividend Yield 0.00 %
  • ROCE 0.87 %
  • ROE -0.53 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Debtor days have improved from 97.6 to 66.0 days.

Cons

  • The company has delivered a poor sales growth of 3.00% over past five years.
  • Company has a low return on equity of 3.02% over last 3 years.
  • Contingent liabilities of Rs.712 Cr.
  • Earnings include an other income of Rs.45.1 Cr.
  • Company's cost of borrowing seems high
  • Promoter holding has decreased over last 3 years: -19.6%
  • Working capital days have increased from 66.4 days to 129 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

Industrials Capital Goods Aerospace & Defense Aerospace & Defense

Part of BSE Industrials BSE 1000 BSE India Defence

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
510.55 170.10 309.12 198.16 746.20 138.08 195.62 200.01 549.96 222.16 192.85 121.06 207.27
464.70 162.49 290.68 183.55 708.32 142.89 199.42 197.01 539.74 221.04 205.66 126.19 207.60
Operating Profit 45.85 7.61 18.44 14.61 37.88 -4.81 -3.80 3.00 10.22 1.12 -12.81 -5.13 -0.33
OPM % 8.98% 4.47% 5.97% 7.37% 5.08% -3.48% -1.94% 1.50% 1.86% 0.50% -6.64% -4.24% -0.16%
9.72 11.37 12.32 11.01 16.30 18.32 20.00 18.18 23.52 13.95 12.05 10.71 8.42
Interest 4.73 6.99 6.33 7.70 8.78 5.41 2.24 1.71 1.54 0.91 0.75 0.92 0.73
Depreciation 0.40 0.47 0.60 1.79 2.27 2.81 3.31 3.52 3.73 3.53 3.80 3.99 4.03
Profit before tax 50.44 11.52 23.83 16.13 43.13 5.29 10.65 15.95 28.47 10.63 -5.31 0.67 3.33
Tax % 18.46% 16.67% 16.74% 17.05% 23.60% 44.42% 51.08% 37.24% 27.26% 61.81% 70.24% 462.69% 109.31%
41.13 9.60 19.85 13.38 32.95 2.94 5.22 10.01 20.70 4.06 -9.04 -2.43 -0.30
EPS in Rs 4.25 0.99 2.05 1.38 2.96 0.26 0.47 0.90 1.86 0.36 -0.81 -0.22 -0.03
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
641 1,102 1,254 1,424 1,084 743
631 1,035 1,170 1,344 1,079 760
Operating Profit 10 67 84 80 5 -17
OPM % 2% 6% 7% 6% 0% -2%
42 22 30 50 80 45
Interest 10 11 26 30 11 3
Depreciation 2 2 2 5 13 15
Profit before tax 40 76 86 95 60 9
Tax % 26% 13% 16% 20% 36% 183%
30 66 72 76 39 -8
EPS in Rs 84.46 8.48 7.41 6.80 3.49 -0.69
Dividend Payout % 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 3%
3 Years: -16%
TTM: -31%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -120%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -12%
1 Year: -35%
Return on Equity
10 Years: %
5 Years: 6%
3 Years: 3%
Last Year: -1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 4 15 19 22 22 22
Reserves 43 102 547 1,104 1,353 1,491
136 503 509 291 4 3
610 322 143 430 525 588
Total Liabilities 793 943 1,219 1,847 1,904 2,103
16 15 15 60 347 484
CWIP 0 0 5 0 0 0
Investments 0 0 0 0 0 0
778 928 1,199 1,787 1,558 1,619
Total Assets 793 943 1,219 1,847 1,904 2,103

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
114 -134 -590 4 496 2
21 21 22 -1 -239 -108
-2 364 364 242 -95 26
Net Cash Flow 133 251 -204 245 163 -80
Free Cash Flow 113 -135 -598 -40 196 -151
CFO/OP 1,162% -181% -675% 23% 11,030% -111%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 7 23 93 171 56 66
Inventory Days 119 10 75 56 102 289
Days Payable 77 35 44 109 36 113
Cash Conversion Cycle 49 -2 123 119 122 242
Working Capital Days -295 -220 -15 62 8 129
ROCE % 22% 13% 10% 5% 1%

Insights

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Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Order Book
INR Crores

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Exports as % of Revenue
% ・Standalone data
System Integration Revenue Mix
% ・Standalone data
Customer Concentration (Top 3 Customers)
% ・Standalone data
Manufacturing Facility Size
Sq. Ft.
Raneal External Sales
INR Crores ・Standalone data
Gross Current Assets (GCA) Days (net of cash)
Days

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

37 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
71.72% 71.72% 71.72% 62.30% 59.78% 57.13% 56.86% 56.86% 52.17% 52.17% 52.17% 52.17%
0.69% 0.07% 0.35% 2.30% 1.28% 0.77% 1.01% 1.17% 0.71% 1.48% 1.06% 0.83%
9.29% 8.21% 7.02% 11.19% 8.89% 7.88% 5.39% 4.04% 4.56% 3.22% 3.64% 2.91%
18.29% 20.00% 20.90% 24.24% 30.05% 34.24% 36.75% 37.96% 42.56% 43.14% 43.15% 44.09%
No. of Shareholders 71,59270,80770,96386,6901,11,7461,48,1251,42,6181,42,5361,55,4061,61,8871,61,5921,63,978

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

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Credit ratings

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