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DCX Systems Limited DCXINDIA NSEAIDEFENCEINFRA

Industrials · Aerospace & Defense · India
https://dcxindia.com
Company Profile ↓
₹195.97
-29.52% 1Y
Mkt Cap₹2,182.84 Cr
P/E56.15
P/B1.31
52W High₹281.25
52W Low₹154.23
Book Value₹135.84
EPS (TTM)₹3.49

Company Overview

DCX Systems Limited, together with its subsidiaries, manufactures and sells electronic systems and cable harnesses in India and Internationally. It offers cable and harness, fine wire cable, flex flat cable, backplane, and conduit assemblies; and EMI shield cable harnesses, wired enclosures, diagnostic test sets, and special/customized connectors. The company also provides electronic manufacturing services, including printed circuit board and electro-mechanical assemblies, design for manufacturability analysis, conformal coating and special processes, flashing/burning of programmable ICs and FPGAs, in-circuit and functional level testing, burn-in/environmental stress screening vibration testing, and repair and revision upgrading services. In addition, it offers aerospace, defense, and industrial automation equipment; subsystem assembly; and integration and testing services, as well as kitting services. The company serves aerospace, land and naval defense systems, and satellites and civil aviation sectors. The company was formerly known as DCX Cable Assemblies Pvt. Ltd. and changed its name to DCX Systems Limited. DCX Systems Limited was incorporated in 2011 and is based in Bengaluru, India.

Why Investors Should Care

Conservative Balance Sheet

Carries low leverage with a debt-to-equity ratio of 0.19.

Recent Developments

  • Mar 2026 Revenue of ₹743.34 Cr (-31.4% YoY); net profit ₹-7.71 Cr.
  • Trailing 12 Months Year-on-year growth — revenue -31.4%, earnings -119.8%.
  • 5-Year Trend Long-term compounding — revenue CAGR -16.0%, profit CAGR -36.9%.

Growth & Price Performance

Compounded Sales Growth

5 Years:-15.99%
1 Year:-31.41%

Compounded Profit Growth

5 Years:-36.92%
1 Year:-119.83%

Stock Price Performance

1 Year:-29.52%
6 Months:+6.92%
3 Months:+0.54%
1 Month:+4.11%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

AI Exposure AI Defence / AI Cable & Electronics
Core Focus

DCX Systems makes cable harness + AI-electronics for defence (Israel-Aerospace JV). AI demand from missile + aerospace programs.

Key Initiatives
  • AI-ready defence cable & electronics DCX Systems builds cable harnesses and electronic sub-systems for defence platforms that increasingly carry AI-enabled sensors and avionics.
  • System integration for smart platforms Its integration work positions DCX to supply the wiring and electronics backbone of AI-capable defence systems.
  • Indigenisation & exports Make-in-India defence sourcing and export tie-ups expand the order pipeline.
Why Investors Should Care
  • Indirect, supply-chain exposure to AI-enabled defence platforms via electronics integration.
  • Beneficiary of defence indigenisation and offset-driven export orders.
  • Currently low/negative returns — an execution-and-scale-up story, not a quality compounder yet.
  • Order-timing and margin volatility make earnings unpredictable.
AI InvestmentCapacity expansion in Bengaluru.
AI RevenueRevenue ~₹1,200 Cr; defence order book.
ROI (Now)EBITDA margin ~9-10%.
ROI (Expected)Defence AI tailwind + import substitution to drive growth.

Curated from public filings and analyst commentary; figures are illustrative.

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Price Chart

NSE TradingView

Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

  • Trading at a high P/E of 56.1.
  • Revenue declined at -16.0% CAGR over 5 years.
  • Earnings shrank at -36.9% CAGR over 5 years.
  • Trading 30.3% below its 52-week high.

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
56.15
Industry PE
29.60
Forward P/E
40.83
PEG Ratio
-
Book Value
₹135.84
Price to Book
1.31
P/S
2.94
EV/EBITDA
-70.92
Dividend Yield
0.00%

Growth (CAGR)

Revenue 5Y
-15.99%
Profit 5Y
-36.92%
Revenue (YoY)
-31.41%
Earnings (YoY)
-119.83%

Profitability & Returns

ROCE
0.83%
ROE
-0.51%
ROA
-0.37%
Profit Margin
-1.04%
Op Margin
1.27%
Gross Margin
8.72%
EPS (Latest Qtr)
₹-0.03
EPS (TTM)
₹3.49

Balance Sheet & Liquidity

Debt/Equity
0.19
Quick Ratio
1.84
Current Ratio
2.75
Debt
₹2.92 Cr
Total Assets
₹2,103.48 Cr
Current Assets
₹1,613.95 Cr
Working Capital
₹1,027.97 Cr

Ownership

Promoter Holding
53.51%
Chg in Prom Hold
1.34%
FII / Inst Holding
4.31%
Chg in FII Hold
0.12%

Financial Snapshot

Enterprise Value
₹2,182.84 Cr
Total Revenue (TTM)
₹743.34 Cr
EBITDA
₹27.98 Cr
Free Cash Flow
₹-150.59 Cr
Operating Cash Flow
₹2.30 Cr
Shares Outstanding
₹11.14 Cr
Gross Margin
8.72%
Payout Ratio
0.00%

Peer comparison

Peer companies in the same sector (Industrials).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 DCXINDIA DCX Systems Limited NSEAIDEFENCEINFRA 195.97 56.15 ₹2,182.84 Cr 0.00% 0.83% -0.51% -15.99% -36.92%
2 LT Larsen & Toubro Limited NIFTY50NSEAIINFRA 3,849.40 32.93 ₹5.30 L Cr 0.96% 14.55% 14.72% 16.09% 15.38%
3 ADANIPORTS Adani Ports and Special Economic Zone Limited NIFTY50NSEINFRA 1,834.20 31.50 ₹4.23 L Cr 0.42% 10.97% 13.32% 22.93% 34.11%
4 BEL Bharat Electronics Limited NIFTY50NSEAIDEFENCEINFRAPSU 410.75 56.42 ₹3.00 L Cr 1.05% 31.88% 25.27% 16.63% 26.64%
5 HAL Hindustan Aeronautics Limited NSEAIDEFENCEINFRAPSU 4,463.30 32.75 ₹2.98 L Cr 0.44% 13.80% 22.21% 7.87% 16.08%
6 INDIGO InterGlobe Aviation Limited NSEINFRA 5,202.50 -84.07 ₹2.01 L Cr 0.24% 4.02% -34.31% 16.59% -227.40%
7 CUMMINSIND Cummins India Limited NSEINFRA 5,535.50 64.97 ₹1.53 L Cr 1.17% 34.95% 27.87% 16.07% 24.35%
8 ABB ABB India Limited NSEAIINFRA 6,951.50 88.30 ₹1.47 L Cr 0.58% 28.45% 21.29% 15.41% 17.97%
9 POWERINDIA Hitachi Energy India Limited NIFTY_MIDNSEINFRA 33,005.00 148.92 ₹1.47 L Cr 0.02% 24.92% 19.09% 22.24% 119.12%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in INR.

Metric Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue 510.55 Cr170.10 Cr309.12 Cr198.16 Cr746.20 Cr138.08 Cr--549.96 Cr222.16 Cr192.85 Cr121.06 Cr207.27 Cr
Cost of Revenue --------526.88 Cr205.30 Cr179.80 Cr114.24 Cr186.37 Cr
Gross Profit --------23.08 Cr16.86 Cr13.05 Cr6.82 Cr20.90 Cr
Operating Expenses 464.70 Cr162.49 Cr290.68 Cr183.55 Cr708.32 Cr142.89 Cr--10.57 Cr20.12 Cr29.66 Cr3.98 Cr13.51 Cr
Operating Income 45.45 Cr7.14 Cr17.84 Cr12.82 Cr35.61 Cr-7.62 Cr--12.51 Cr-3.26 Cr-16.61 Cr2.84 Cr7.39 Cr
EBITDA 45.85 Cr7.61 Cr18.44 Cr14.61 Cr37.88 Cr-4.81 Cr--33.75 Cr15.08 Cr-76.70 L5.57 Cr8.10 Cr
Interest Expense 4.73 Cr6.99 Cr6.33 Cr7.70 Cr8.78 Cr5.41 Cr--1.54 Cr91.20 L74.70 L91.70 L73.20 L
Pretax Income 50.44 Cr11.52 Cr23.83 Cr16.13 Cr43.13 Cr5.29 Cr--28.47 Cr10.63 Cr-5.31 Cr67.20 L3.34 Cr
Tax Provision 9.31 Cr1.92 Cr3.99 Cr2.75 Cr10.18 Cr2.35 Cr--7.77 Cr6.57 Cr3.73 Cr3.10 Cr3.64 Cr
Net Income 41.13 Cr9.60 Cr19.85 Cr13.38 Cr32.95 Cr2.94 Cr--20.70 Cr4.06 Cr-9.04 Cr-2.43 Cr-30.20 L
Diluted EPS 4.250.992.051.382.960.26--1.860.36-0.81-0.22-0.03

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue 641.00 Cr-1,253.63 Cr1,423.58 Cr1,083.67 Cr743.34 Cr
Cost of Revenue --1,121.02 Cr1,318.19 Cr1,035.97 Cr678.51 Cr
Gross Profit --132.62 Cr105.39 Cr47.70 Cr64.83 Cr
Operating Expenses 631.00 Cr-21.67 Cr30.63 Cr36.73 Cr55.41 Cr
Operating Income 8.00 Cr-110.94 Cr74.76 Cr10.97 Cr9.42 Cr
EBITDA 10.00 Cr-109.30 Cr124.92 Cr84.64 Cr27.98 Cr
Interest Expense 10.00 Cr-21.71 Cr25.18 Cr10.89 Cr3.31 Cr
Pretax Income 40.00 Cr-85.77 Cr94.61 Cr60.37 Cr9.33 Cr
Tax Provision 10.40 Cr-14.09 Cr18.82 Cr21.50 Cr17.04 Cr
Net Income 30.00 Cr-71.68 Cr75.78 Cr38.88 Cr-7.71 Cr
Diluted EPS 84.466.788.447.613.49-

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets 793.00 Cr-1,219.28 Cr1,847.34 Cr1,904.07 Cr2,103.48 Cr
Current Assets --1,191.32 Cr1,781.34 Cr1,551.00 Cr1,613.95 Cr
Cash & Equivalents --13.67 Cr21.45 Cr193.83 Cr113.98 Cr
Inventory --229.16 Cr203.50 Cr288.97 Cr536.98 Cr
Receivables --319.53 Cr667.07 Cr165.19 Cr134.40 Cr
Total Liabilities --652.56 Cr721.09 Cr528.84 Cr590.46 Cr
Current Liabilities --645.55 Cr698.97 Cr523.68 Cr585.99 Cr
Long Term Debt --5.77 Cr20.20 Cr00
Total Debt 136.00 Cr-509.48 Cr290.60 Cr3.75 Cr2.92 Cr
Total Equity 47.00 Cr-566.72 Cr1,126.25 Cr1,375.23 Cr1,513.02 Cr
Shares Outstanding --9.67 Cr11.14 Cr11.14 Cr11.14 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow 114.00 Cr--590.16 Cr4.43 Cr-313.77 Cr2.30 Cr
Investing Cash Flow 21.00 Cr-21.89 Cr-1.25 Cr-238.59 Cr-108.11 Cr
Financing Cash Flow -2.00 Cr-363.79 Cr241.80 Cr-94.64 Cr25.96 Cr
Capital Expenditure -1.00 Cr--8.21 Cr-44.56 Cr-300.01 Cr-152.90 Cr
Free Cash Flow 113.00 Cr--598.37 Cr-40.13 Cr-613.78 Cr-150.59 Cr
Net Change in Cash 133.00 Cr--204.48 Cr244.98 Cr-647.00 Cr-79.85 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % --10.6%7.4%4.4%8.7%
Operating Margin % 1.2%-8.8%5.3%1.0%1.3%
Net Margin % 4.7%-5.7%5.3%3.6%-1.0%
ROE % 63.8%-12.6%6.7%2.8%-0.5%
ROCE % --19.3%6.5%0.8%0.6%

Shareholding Pattern

Insiders
53.51%
Institutions
4.31%
Public Float
9.27%

Analyst View

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Latest News

Recent headlines for DCXINDIA

Google News Fri, 26 Jun 2026

DCX Systems Limited Actuals & Estimates (BSE:DCXINDIA) - TradingView

<a href="https://news.google.com/rss/articles/CBMihwFBVV95cUxOaFl1aEVVYlU2NUVZX1BzcHdrTlNhWUNpdGJKSUFNblhFNXNGdWVGbFcyNFdRM1g4aDIwRVdtVGtsQi0zeGJuTDB1T2Z0TEdrMHVwSVNyUGNidjJXZGR1QmJ3Wk9weC11aXk3RWVmTFFrbmtJT2FnelExVFprRlZacFlqSC1kQm8?oc=5" …

Google News ue, 25 Nov 2025

DCX Systems Limited's (NSE:DCXINDIA) stock price dropped 12% last week; private companies would not be happy - simplywall.st

<a href="https://news.google.com/rss/articles/CBMi2wFBVV95cUxQUHZfNGdRWmhhYmd3d3VhZmF0UUtRT1plaDdtTlJWR2dZeXREd1pYeU5UZjhwSkdJTF95TkQwRlhuazRpY1VVZnpQUnRXc3VoTmRESkU0YVd6ZThMNl9hY09pN3kxXzdvRVB6QzFWdEtIRU1pbjdJOFR0UkEtVE5BdXlrTnI1WWxkWUJoMU…

Google News Wed, 27 May 2026

DCX Systems Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2026 - marketscreener.com

<a href="https://news.google.com/rss/articles/CBMi0AFBVV95cUxQTkpOTHIzaVdQUTlnZFpiUEVjbVBZdFpYN1BrTEtETTlzWWZpS0VuaV9BOE5uRDdjbFZCNWYxT3JCMk51TjUzQk5tZWlPUkRvd0Zub1RqRk9xeE44X0xsZFJIX3Y0cWxmRl96LWJYaXE5WDhWOXNIaTR1M0tiQ2o2MVJRbjJTRG9LM3NkdD…

Google News Mon, 01 Jun 2026

DCX Systems Limited Just Missed Earnings; Here's What Analysts Are Forecasting Now - simplywall.st

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Google News ue, 07 Apr 2026

Stock Picks: RamcoSys, DCXINDIA Set for 2–3 Week Upside - HDFC Sky

<a href="https://news.google.com/rss/articles/CBMic0FVX3lxTFBTaEMwZlVRbnppQjVEZ2g5cWdFX3hZZ05NZEhrb3lkOEZZWml5N0R4aWo1eXBTdGhPYXZsazFOT0hpZ2tjS3VIXzNfVkhVaVk2T2IwNUpwY0lzRnduOHZKTWhiaEVDTHo5YkRpV0VHWGp4Vzg?oc=5" target="_blank">Stock Picks:…

Google News Sun, 22 Mar 2026

DCX Systems shares rise 9% on winning purchase order of Rs 563 crore - TradingView

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DCXINDIA — Frequently Asked Questions

What is the current share price of DCX Systems Limited (DCXINDIA)?

As of 2026-07-15 09:52 IST, DCX Systems Limited (DCXINDIA) trades at ₹195.97 on NSE. Its 52-week range is ₹154.23 to ₹281.25.

What is the market capitalisation of DCXINDIA?

DCX Systems Limited (DCXINDIA) has a market capitalisation of ₹2,182.84 Cr on NSE.

What is the P/E ratio of DCXINDIA?

DCXINDIA trades at a trailing price-to-earnings (P/E) ratio of 56.15. The industry average P/E is 29.60. Its price-to-book (P/B) ratio is 1.31.

What is the return on equity (ROE) of DCXINDIA?

DCXINDIA has a return on equity (ROE) of -0.51%. Its return on capital employed (ROCE) is 0.83%.

Is DCXINDIA a good stock to buy?

This page provides a data-driven analysis of DCX Systems Limited (DCXINDIA), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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