DCXINDIA

DCX Systems Limited

Aerospace and defence electronics EMS company

Industrials›Capital Goods›Aerospace & Defense›Aerospace & Defense

dcxindia.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹152.56
Market cap
1,693 Cr
Stock P/E
Loss (TTM EPS ₹-1.85)
P/B
1.12
ROE (FY26)
-0.5%
ROCE (FY26)
0.8%
Operating margin (FY26)
-4.4%
Debt / equity (FY26)
0.00

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

DCX Systems is an electronics manufacturing services (EMS) company for aerospace and defence, building systems and electronic assemblies for Indian and overseas defence customers from a single manufacturing unit in Bengaluru.

Company snapshot

24thBy market cap

Ranked among 25 companies in Aerospace & Defense.

What we see

Positives
  • ✓Debt-to-equity of 0.00x — the company is largely funded by its own money, not borrowed funds.
Concerns
  • ✗Net margin is negative — the company is spending more than it earns right now.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales309 Cr198 Cr746 Cr138 Cr196 Cr200 Cr550 Cr222 Cr193 Cr121 Cr207 Cr103 Cr
Operating expenses (approx.)291 Cr184 Cr708 Cr143 Cr199 Cr197 Cr540 Cr222 Cr206 Cr126 Cr208 Cr114 Cr
EBITDA18 Cr15 Cr38 Cr-5 Cr-4 Cr3 Cr10 Cr0.27 Cr-13 Cr-5 Cr-0.28 Cr-11 Cr
OPM %6.0%7.4%5.1%-3.5%-1.9%1.5%1.9%0.1%-6.6%-4.2%-0.1%-10.4%
Other income12 Cr11 Cr16 Cr18 Cr20 Cr18 Cr24 Cr15 Cr12 Cr11 Cr8 Cr9 Cr
Interest6 Cr8 Cr9 Cr5 Cr2 Cr2 Cr2 Cr0.91 Cr0.75 Cr0.92 Cr0.73 Cr0.84 Cr
Depreciation0.60 Cr2 Cr2 Cr3 Cr3 Cr4 Cr4 Cr4 Cr4 Cr4 Cr4 Cr4 Cr
Profit before tax24 Cr16 Cr43 Cr5 Cr11 Cr16 Cr28 Cr11 Cr-5 Cr0.67 Cr3 Cr-6 Cr
Tax %16.7%17.0%23.6%44.4%51.1%37.2%27.3%61.8%-70.3%461.0%109.0%-33.4%
Net profit20 Cr13 Cr33 Cr3 Cr5 Cr10 Cr21 Cr4 Cr-9 Cr-2 Cr-0.30 Cr-9 Cr
EPS (₹)₹2.05₹1.38₹3.04₹0.26₹0.47₹0.90₹1.86₹0.36₹-0.81₹-0.22₹-0.03₹-0.78

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,102 Cr1,254 Cr1,424 Cr1,084 Cr743 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,035 Cr1,170 Cr1,344 Cr1,079 Cr760 CrSign in free for the trailing twelve months
EBITDA67 Cr84 Cr80 Cr5 Cr-17 CrSign in free for the trailing twelve months
OPM %6.1%6.7%5.6%0.4%-2.3%Sign in free for the trailing twelve months
Other income22 Cr30 Cr50 Cr80 Cr45 CrSign in free for the trailing twelve months
Interest11 Cr26 Cr30 Cr11 Cr3 CrSign in free for the trailing twelve months
Depreciation2 Cr2 Cr5 Cr13 Cr15 CrSign in free for the trailing twelve months
Profit before tax76 Cr86 Cr95 Cr60 Cr9 CrSign in free for the trailing twelve months
Tax %13.2%16.4%19.9%35.6%182.6%Sign in free for the trailing twelve months
Net profit66 Cr72 Cr76 Cr39 Cr-8 CrSign in free for the trailing twelve months
EPS (₹)₹9.19₹8.44₹7.61₹3.49₹-0.69Sign in free for the trailing twelve months
Dividend payout %—0.0%0.0%0.0%—Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital15 Cr19 Cr22 Cr22 Cr22 Cr
Reserves102 Cr547 Cr1,104 Cr1,353 Cr1,491 Cr
Borrowings503 Cr509 Cr291 Cr0.02 Cr—
Other liabilities322 Cr143 Cr430 Cr529 Cr590 Cr
Total liabilities943 Cr1,219 Cr1,847 Cr1,904 Cr2,103 Cr
Fixed assets (net)11 Cr11 Cr56 Cr62 Cr64 Cr
CWIP—5 Cr0 Cr0 Cr0 Cr
Investments—4 Cr4 Cr7 Cr0.04 Cr
Loans & advances—0 Cr0.02 Cr0 Cr0 Cr
Inventories27 Cr229 Cr203 Cr289 Cr537 Cr
Trade receivables69 Cr320 Cr667 Cr165 Cr134 Cr
Cash & bank188 Cr14 Cr21 Cr194 Cr114 Cr
Other assets647 Cr636 Cr895 Cr1,187 Cr1,254 Cr
Total assets943 Cr1,219 Cr1,847 Cr1,904 Cr2,103 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity-134 Cr-590 Cr4 Cr496 Cr2 Cr
Cash from investing21 Cr22 Cr-1 Cr-239 Cr-108 Cr
Cash from financing364 Cr364 Cr242 Cr-95 Cr26 Cr
Net cash flow251 Cr-204 Cr245 Cr163 Cr-80 Cr
Free cash flow (OCF − Capex)-135 Cr-593 Cr-40 Cr196 Cr-151 Cr

Ratios

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %14.0%10.4%8.8%5.2%0.8%
ROE %55.8%12.6%6.7%2.8%-0.5%
Debtor days23931715566
Inventory days116663102235
Days payable38391223692
Cash conversion cycle-4120112121209
OCF / EBITDA %-200.1%-705.3%5.5%n.m.—
OCF / EBITDA % (3 years)——-312.2%-53.4%n.m.
Debt / equity4.270.900.260.00000.00
Current ratio1.171.852.552.962.75
Net debt / EBITDA4.695.933.37-42.02—