MarketFriction

DCX Systems Ltd

NSE DCXINDIA · BSE 543650 · Aerospace & Defense
₹158.99 -1.36%
NSE close2026-10-01
52 week range153.30 - 253.40
Market cap₹1,769 Cr.
IPO 2022 · -23% since Price band 20% Delivery 51.1%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales309.12198.16746.20138.08195.62200.01549.96222.16192.85121.06207.27103.13
Expenses290.68183.55708.32142.89199.42197.01539.74221.04205.66126.19207.60113.88
Operating Profit18.4414.6137.88-4.81-3.803.0010.221.12-12.81-5.13-0.33-10.75
OPM %5.97%7.37%5.08%-3.48%-1.94%1.50%1.86%0.50%-6.64%-4.24%-0.16%-10.42%
Other Income12.3211.0116.3018.3220.0018.1823.5213.9512.0510.718.428.78
Interest6.337.708.785.412.241.711.540.910.750.920.730.84
Depreciation0.601.792.272.813.313.523.733.533.803.994.033.68
Profit before tax23.8316.1343.135.2910.6515.9528.4710.63-5.310.673.33-6.49
Tax %16.74%17.05%23.60%44.42%51.08%37.24%27.26%61.81%70.24%462.69%109.31%33.28%
Net Profit19.8513.3832.952.945.2210.0120.704.06-9.04-2.43-0.30-8.66
EPS in Rs2.051.382.960.260.470.901.860.36-0.81-0.22-0.03-0.78
Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales6411,1021,2541,4241,084743624
Expenses6311,0351,1701,3441,079760653
Operating Profit106784805-17-29
OPM %1.6%6%7%6%0.4%-2.3%-4.7%
Other Income42223050804540
Interest101126301133
Depreciation2225131516
Profit before tax40768695609-8
Tax %26%13%16%20%36%183%
Net Profit3066727639-8-20
EPS in Rs84.468.487.416.803.49-0.69-1.84
Dividend Payout %0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth%3%-16%-47%
Compounded Profit Growth%%%-151%
Stock Price CAGR%%-19%-33%
Return on Equity%6%3%-1%
Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital41519222222
Reserves431025471,1041,3531,491
Borrowings13650350929143
Other Liabilities610322143430525588
Total Liabilities7939431,2191,8471,9042,103
Fixed Assets16151560347484
CWIP005000
Investments000000
Other Assets7789281,1991,7871,5581,619
Total Assets7939431,2191,8471,9042,103
Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity114-134-5904-3142
Cash from Investing Activity212122-1-239-108
Cash from Financing Activity-2364364242-9526
Net Cash Flow133251-204245-647-80
Free Cash Flow113-135-598-40-614-151
CFO/OP1,162%-181%-675%23%-6,572%-111%
Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days723931715666
Inventory Days119107556102289
Days Payable77354410936113
Cash Conversion Cycle49-2123119122242
Working Capital Days-295-220-15628129
ROCE %22%13%10%5%1%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters71.72%71.72%62.30%59.78%57.13%56.86%56.86%52.17%52.17%52.17%52.17%52.17%
FIIs0.07%0.35%2.30%1.28%0.77%1.01%1.17%0.71%1.48%1.06%0.83%1.72%
DIIs8.21%7.02%11.19%8.89%7.88%5.39%4.04%4.56%3.22%3.64%2.91%2.69%
Public20.00%20.90%24.24%30.05%34.24%36.75%37.96%42.56%43.14%43.15%44.09%43.43%
No. of Shareholders70,80770,96386,6901,11,7461,48,1251,42,6181,42,5361,55,4061,61,8871,61,5921,63,9781,60,726

Fundamentals

Market Cap₹ 1,769 Cr.
Current Price₹ 159
Book Value₹ 136
ROCE0.87 %
ROE-0.53 %
Dividend Yield0.00 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)-47%
Compounded Profit Growth (TTM)-151%
Consolidated figures.
Valuation
Market capRs 1,231 Cr
Enterprise valueRs 933 Cr
Price to book10.46x
Price to sales1.97x
EV / EBITDA85.27x
EV / sales1.49x
Earnings yield-1.66%
Profitability
Operating margin (excl. other income)6.08%
Operating margin (incl. other income)8.08%
EBITDA margin1.75%
Pre-tax margin-1.25%
Net profit margin-3.27%
Net margin, latest quarter-8.40%
ROE79.83%
ROCE21.63%
ROA7.56%
Tax rate13.17%
Other income / net worth18.76%
Growth
Sales growth (latest year)71.92%
Profit growth (latest year)121.96%
Sales growth QoQ-50.24%
Sales growth YoY (latest quarter)-53.58%
Profit growth YoY (latest quarter)-313.30%
Per share
EPS (TTM)Rs -2.64
EPS (latest year)Rs 8.48
EPS (latest quarter)Rs -1.12
Book value per shareRs 15.19
Sales per shareRs 80.66
Cash flow per shareRs -17.32
Free cash flow per shareRs -19.51
Efficiency
Asset turnover1.17x
Fixed asset turnover75.24x
Inventory turnover36.76x
Inventory days10 days
Debtor days23 days
Debtors turnover15.86x
Creditor days113 days
Cash conversion cycle242 days
Working capital days129 days
Leverage
Total debtRs 503 Cr
Cash and bankRs 800 Cr
Net debtRs -298 Cr
Debt to equity4.27x
Net debt / EBITDA-27.21x
Interest coverage-1.41x
Current ratio (filing 2026-03-31)2.75x
Quick ratio (filing 2026-03-31)1.84x
Trade payables (filing 2026-03-31)Rs 210 Cr
Owners' fund to total sources12.47%
Debt to assets53.32%
Cash flow
Cash from Operating Activity (latest year)Rs -134 Cr
Cash from Investing Activity (latest year)Rs 21 Cr
Cash from Financing Activity (latest year)Rs 364 Cr
Net Cash Flow (latest year)Rs 251 Cr
Free cash flow (latest year)Rs -151 Cr
FCFE (approx.: FCF + change in debt)Rs 215 Cr
Cash from ops / profit, 5 years-4.21x
Statement figures
Net sales (TTM)Rs 624 Cr
Net sales (latest year)Rs 1,102 Cr
Sales (latest quarter)Rs 103 Cr
Operating profit excl. other income (latest year)Rs 67 Cr
Operating profit (latest quarter)Rs -11 Cr
Other income (TTM)Rs 40 Cr
EBITDA (TTM)Rs 11 Cr
PBDT (TTM)Rs 8 Cr
Profit before tax (TTM)Rs -8 Cr
Tax (latest year)Rs 10 Cr
Net profit (TTM)Rs -20 Cr
Net profit (latest year)Rs 66 Cr
Net profit (latest quarter)Rs -9 Cr
Depreciation (TTM)Rs 16 Cr
Depreciation (latest quarter)Rs 4 Cr
Interest (TTM)Rs 3 Cr
Cost of goods sold (latest year)Rs 1,002 Cr
Total expenditure (latest year)Rs 1,035 Cr
Total income (latest year)Rs 1,124 Cr
Share capitalRs 15 Cr
ReservesRs 102 Cr
Shareholders' fundsRs 118 Cr
Total assetsRs 943 Cr
Net blockRs 15 Cr
ReceivablesRs 69 Cr
InventoryRs 27 Cr
Other liabilitiesRs 322 Cr
Shares outstanding (crore)7.74
Ownership
Promoter holding52.17% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
PeriodDCXINDIANifty 50Difference
1 week-2.0%-2.8% +0.8 pts
1 month-8.4%-6.8% -1.6 pts
3 months-22.4%-7.6% -14.8 pts
6 months+3.1%+0.4% +2.7 pts
1 year-39.5%-9.9% -29.6 pts
2 years-53.8%-13.6% -40.3 pts
3 years-45.9%+14.2% -60.1 pts
3 mutual fund schemes hold about ₹49 Cr. Over three months 2 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
HDFC Large & Mid Cap Fund0.14%42 +8%
HDFC Dividend Yield Fund0.13%7 +14%
Motilal Oswal BSE 1000 Index Fund0.00%0

Red flags

F-score 4 of 8
explainWeak cash conversion Cash from operations was -21% of net profit over the last 2 years
explainHigh accruals Profit exceeded operating cash by 21% of total assets in 2026
lookShare dilution Share count up 2111% in a year
lookRegulator order or action Regulator order or action 2026-06-17: Dcx Systems Limited has informed the Exchange about Action(s) taken or orders passed
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹103 Cr -53.6% vs Jun 2025. Net loss ₹9 Cr.
Against our estimate for Jun 2026: sales -22.6%, profit -503.8% miss. Our estimate for Sep 2026: sales Rs 116 Cr, profit Rs -4 Cr (how).

Activity

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No bulk or block deals on record.
No corporate actions on record.
DateTypeWhat it says
2026-09-29Shareholder meetingVoting results.
2026-09-28Shareholder meetingProceedings of Annual General Meeting held on September 28, 2026
2026-09-04Shareholder meetingNotice of Annual General Meeting to be held on September 28, 2026
2026-08-17General UpdatesGeneral Updates
2026-08-13UpdatesUpdates on signing of MOU.
2026-08-13Investor PresentationInvestor Presentation
2026-08-12Press ReleaseA press release dated August 12, 2026, titled "Press Release for the un-audited financial results for the quarter ended June 30, 2026".
2026-08-12Monitoring Agency ReportMonitoring Agency Report for the quarter ended June 30, 2026
2026-08-12Board meeting outcomeDcx Systems Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-17UpdatesIntimation of revision in official Website and Investor Relations webpage.
2026-07-15UpdatesIntimation of investment in ELTX Systems Pvt Ltd., an Associate and Joint Venture (Joint Venture with ELTA Systems Limited, Israel) of the Company thr...
2026-07-03General UpdatesGeneral Updates
2026-06-26General UpdatesGeneral Updates
2026-06-17Regulatory actionAction(s) taken or orders passed
2026-06-11Disclosure under SEBI TakeovDcx Systems Limited has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substant...
2026-05-27Investor PresentationInvestor Presentation
2026-05-27Press ReleaseA press release dated May 27, 2026, titled "Press Release/Media Release for the audited financial results for the quarter and year ended March 31, 202...
2026-05-27Board meeting outcomeDcx Systems Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-27Board meeting outcomeDcx Systems Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-12Shareholder meetingVoting results.
2026-05-11Monitoring Agency ReportMonitering Agency report for the quarter ended March 31, 2026
2026-05-08Credit Rating- RevisionCredit Rating- Revision
2026-05-05Press ReleaseA press release dated May 05, 2026, titled "Press Release".
2026-04-29CorrigendumCorrigendum to Notice of Postal Ballot
2026-04-16General UpdatesGeneral Updates
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
EPS in the scrip is zero (4 trailing quarters)

Quick answers

What is the market cap of DCX Systems Ltd?

DCX Systems Ltd (DCXINDIA) has a market capitalisation of Rs 1,769 Cr. at the 2026-10-01 close.

What were DCX Systems Ltd's latest quarterly results?

In the Jun 2026 quarter, DCX Systems Ltd sales was Rs 103 Cr (-53.6% vs Jun 2025) with a net loss of Rs 9 Cr.

What is the 52-week high and low of DCX Systems Ltd?

The 52-week high is Rs 253.40 and the 52-week low is Rs 153.30.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03