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DCX Systems share price & results

DCX Systems· Capital Goods· Industrials

Results to
Jun 2026
Latest analysed call
Q4 FY25
Ownership as of
Sept 2026

Bengaluru defence-electronics manufacturer: cable harness, PCB assembly & system integration for global OEMs

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue101 ₹ crore−54.0% YoYQuarterly, as filedQuarter to Jun 2026Revenue from operations as filed.
Operating margin-0.3 %−0.8 pts YoYOperating profit / revenueQuarter to Jun 2026For the quarter; a change is in percentage points.
Net profit4.5 ₹ crore−59.7% YoYQuarterly, as filedQuarter to Jun 2026Profit after tax as filed.
Return on equity-1.41 %−3.7 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin-20.32 %+36.3 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)-46.54 %−7.6 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

4 of 8 judged targets kept · 3 open · verdicts reflect calls analysed to Q4 FY25.

DCX Systems management guidance track record on Inve: 11 targets tracked across analysed earnings calls (4 achieved, 4 missed, 3 open).

TargetOriginal wordingSaidLatest callVerdict
QIP Allocation for NIART Systems JV₹209 croresQ3 FY24Q4 FY25:the Rs. 280 crores, intangible that belongs to NIART... has been capitalized
Call transcript, Q4 FY25 · 28 May 2025		Achieved*
NIART Systems Revenue Generation StartFY24 end to FY25Q3 FY24Q4 FY25:to take proper revenue in my view in books, next year it should start.
Call transcript, Q4 FY25 · 28 May 2025		Missed
BOM Guarantee Cost Recoverywithin 3-4 monthsQ4 FY24Q4 FY25:In my view, months' time, 1 to 1.5 months' time, it has to be reconsidered... I want to push for Q1 results.
Call transcript, Q4 FY25 · 28 May 2025		Delayed

Source: Inve Guidance Tracker for DCX Systems · to Q4 FY25

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

4 of DCX Systems's 11 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 8 more targets are in the full ledger.

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Price

₹136.39 +1.02% · +₹1.38

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −40.4% 1Y

₹140₹160₹180₹200₹220Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26

1Y: ₹228.83 on 24 Oct 2025 → ₹136.39. High ₹228.83 (24 Oct 2025), low ₹132.91 (23 Oct 2026).

Previous close
₹135.01
Market cap
₹1.5k Cr
52-week range
₹132.91 – ₹226.92
One year
−39.90%
Return on equity (TTM to Jun 2026)
-1.41%

Overview

Symbol
NSE:DCXINDIA
Industry
Industrials
Exchange
NSE
Currency
INR

What DCX Systems does

Based on the company's own presentations, annual report and earnings calls.

DCX Systems manufactures cable & wire harness assemblies, printed circuit board assemblies (PCBAs) and system-integration products for the defence and aerospace industry, operating out of a facility in the Hi-Tech Defence and Aerospace Park SEZ in Bengaluru. It works on a Build-to-Print / offset model as the preferred and largest Indian offset partner to Israel Aerospace Industries (IAI), sourcing and assembling components for radar, communication, surveillance and missile systems supplied to global OEM customers. Backward integration into EMS/PCB assembly is carried out through its wholly-owned subsidiary Raneal Advanced Systems, and it has entered joint ventures with ELTA Systems (Israel) to develop obstacle-detection systems for railways (NIART Systems) and radar/electronic-warfare systems (ELTX Systems).

Segments

  • Manufacturing (Backward Integration)
  • System Integration
  • Others
Employee strength
140 (as of March 31, 2025)
Primary manufacturing facility land area
6,070 sq. m leased in Aerospace SEZ, Hi-Tech Defence & Aerospace Park, Bengaluru
Market position
Preferred and largest Indian offset partner to Israel Aerospace Industries (IAI)
Customer geography
Diverse mix of domestic and international customers across Israel, US, South Korea and India
Joint ventures
2 — NIART Systems (railway obstacle-detection, with ELTA Systems, Israel) and ELTX Systems (radar & EW systems, with ELTA Systems, Israel; new facility under construction at Shoolagiri, Tamil Nadu)
Wholly-owned manufacturing subsidiary
Raneal Advanced Systems — backward-integrated EMS/PCB assembly facility, including an oversized PCB assembly line
Founded 2011Headquarters Bengaluru (Hi-Tech Defence & Aerospace Park SEZ), Karnataka, IndiaEmployees 140 (2025-03-31) Company website

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