DCX Systems share price jumps 9% on bagging multiple orders; check details

Shares of  DCX Systems rose up to 8.75 per cent at Rs 348.80 per share on the BSE in Friday’s intraday deals. The stock is trading close to its 52-week high of Rs 392.90, hit on January 11, 2024. On the other hand, the stock had hit a 52-week low of Rs 233.35 per share on June 15, 2023. 

The recent surge in the stock price, however, came after the company received orders worth Rs 32.20 crore from domestic as well as overseas customers.

The contracts include purchase orders of cable and wire harness assemblies and will be executed within the next 12 months, the company said in an exchange filing on Thursday. 

The stock price surge of DCX Systems also comes after the after the Defence Minister Rajnath Singh announced on Thursday that India aims to elevate its defence exports to surpass Rs 50,000 crore within the next five years. 

DCX Systems is engaged in the manufacturing and distribution of electronic sub-systems and cable harnesses, catering primarily to the aerospace and defense sectors both domestically in India and internationally.

For the fourth quarter of financial year 2023-24, the company’s revenue stood at Rs. 746.20 crore as compared to Rs. 510.55 crore in Q4FY23.

The company’s earnings before interest and tax (Ebit) stood at Rs 51.91 crore in Q4FY24, vis-à-vis Rs 55.16 crore in Q4 FY23. The Ebit margin decreased to 6.96 per cent in Q4FY24 as compared to 10.80 per cent in Q4FY23.

DX Systems profit after Tax (PAT) also declined to Rs 32.95 crore in Q4FY24 as compared to Rs 41.13 crore in Q4FY23.

On a full year basis, its operational Revenue stood at Rs 1423.58 crore in FY24 from Rs 1253.30 crore in FY23. Ebit came in at Rs 124.41 crore in FY24, up from Rs 111.40 crore in FY23. The Ebit margins fell slightly for the full to 8.74 per cent in FY 24, as compared to 8.89 per cent in FY23.

Profit After Tax (PAT) for the full year was at Rs 75.78 crore in FY24 as compared to Rs 71.68 in FY 23. The company had an order book worth Rs 801 crore as on 31

st March 2024. 

DCX Systems has total market capitalisation of Rs 3,846.17 crore and the company presently trades at a price to earnings valuation of 52.44 times. 

At 12:57 AM; the stock of the company was trading 7.78 per cent higher at Rs 345.55, as compared to 0.15 per cent rise in the BSE Sensex.