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DCX Systems Limited
(DCXINDIA)
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Rating:44Neutral
Price Target:
₹169.00
▼(-6.40% Downside)
Action:Reiterated
Date:08/28/26
The score is held down primarily by weakened financial performance (sharp revenue declines and a move into losses, plus inconsistent/negative free cash flow). Technicals add further pressure with price below key moving averages and negative MACD. Valuation signals are also weak because the company is loss-making (negative P/E) and there is no dividend yield data to offset risk.
Positive Factors
Strengthened Balance Sheet
Lower leverage and a larger equity base improve financial resilience and reduce dependence on external funding. This gives DCX greater capacity to absorb operating volatility and support future defence and aerospace contracts.
Negative Factors
Sharp Revenue Contraction
Two consecutive years of material revenue decline weaken scale, customer-order visibility and operating leverage. Continued contraction could reduce manufacturing utilization and make it harder for DCX to restore sustainable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Strengthened Balance Sheet
Lower leverage and a larger equity base improve financial resilience and reduce dependence on external funding. This gives DCX greater capacity to absorb operating volatility and support future defence and aerospace contracts.
Read all positive factors
DCX Systems Limited (DCXINDIA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹18.70B
Dividend YieldN/A
Average Volume (3M)40.09K
Price to Earnings (P/E)―
Beta (1Y)1.39
Revenue Growth-46.54%
EPS Growth-151.08%
CountryIN
Employees145
SectorGeneral
Sector StrengthN/A
IndustryAerospace & Defense
Share Statistics
EPS (TTM)-0.70
Shares Outstanding111,386,430
10 Day Avg. Volume35,820
30 Day Avg. Volume40,090
Financial Highlights & Ratios
PEG Ratio1.87
Price to Book (P/B)1.14
Price to Sales (P/S)2.32
P/FCF Ratio-16.30
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)4.41
Revenue Forecast (FY)₹11.96B
DCX Systems Limited Business Overview & Revenue Model
Company Description
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 ...
How the Company Makes Money
DCX Systems makes money mainly by executing manufacturing and integration contracts for electronic systems/subsystems used in defence and aerospace applications. Its core revenue streams typically include (1) electronics manufacturing services and...
DCX Systems Limited Financial Statement Overview
Summary
Income Statement
36
Negative
Balance Sheet
72
Positive
Cash Flow
41
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 7.43B | 10.84B | 14.24B | 12.54B | 10.99B |
| Gross Profit | 94.23M | 109.67M | 1.07B | 1.34B | 964.97M |
| EBITDA | -171.08M | 846.38M | 1.30B | 1.13B | 850.41M |
| Net Income | -77.11M | 388.76M | 757.83M | 716.81M | 656.08M |
Balance Sheet | |||||
| Total Assets | 21.03B | 19.04B | 18.47B | 12.19B | 9.43B |
| Cash, Cash Equivalents and Short-Term Investments | 7.65B | 10.03B | 214.46M | 136.71M | 8.00B |
| Total Debt | 29.21M | 37.30M | 2.91B | 5.09B | 5.03B |
| Total Liabilities | 5.90B | 5.29B | 7.21B | 6.53B | 8.25B |
| Stockholders Equity | 15.13B | 13.75B | 11.26B | 5.67B | 1.18B |
Cash Flow | |||||
| Free Cash Flow | -1.06B | 2.50B | -401.27M | -5.98B | -1.36B |
| Operating Cash Flow | 471.81M | 5.50B | 44.31M | -5.90B | -1.34B |
| Investing Cash Flow | -1.53B | -3.00B | -12.52M | 218.95M | 207.98M |
| Financing Cash Flow | 259.62M | -875.08M | 2.42B | 3.64B | 3.64B |
DCX Systems Limited Technical Analysis
Negative
180.55
Price Trends
180.49
Negative
189.65
Negative
183.32
Negative
Market Momentum
-3.02
Positive
37.66
Neutral
21.87
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DCXINDIA, the sentiment is Negative. The current price of 180.55 is above the 20-day moving average (MA) of 173.21, above the 50-day MA of 180.49, and below the 200-day MA of 183.32, indicating a bearish trend. The MACD of -3.02 indicates Positive momentum. The RSI at 37.66 is Neutral, neither overbought nor oversold. The STOCH value of 21.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:DCXINDIA.
DCX Systems Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹267.27B | 100.92 | ― | 0.21% | 33.81% | 24.90% | |
67 Neutral | ₹157.95B | 85.96 | ― | 0.06% | -23.50% | -29.04% | |
66 Neutral | ₹116.94B | 122.49 | ― | 0.07% | 36.61% | 47.63% | |
63 Neutral | ₹79.93B | 113.70 | ― | ― | ― | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹153.43B | 122.04 | ― | 0.06% | 69.08% | 57.44% | |
44 Neutral | ₹18.70B | -90.56 | ― | ― | -46.54% | -151.08% |
* General Sector Average
IN:DCXINDIA
DCX Systems Limited
166.95
-108.05
-39.29%
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DCX Systems Limited Corporate Events
DCX Systems boosts funding of defence joint venture ELTX via rights issue
Jul 15, 2026
DCX Systems Limited has increased its investment in ELTX Systems Private Limited, its associate and joint venture with Israel’s ELTA Systems, by subscribing to additional equity in a rights issue. ELTX, a defence and aerospace player with mi...
DCX Systems and Subsidiary Win Orders Worth Over INR 47 Crore
Jul 3, 2026
DCX Systems Limited has secured new purchase orders worth about INR 34.79 crore for the manufacture and supply of cable and wire harness assemblies, spanning both domestic and export markets. The orders reinforce the company’s role as a key ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.