Aerospace & Defence company DCX Systems announced Q2FY26 results Revenue from operations for the quarter stood at Rs 192.85 crore in Q2FY26, as compared to Rs 195.62 crore in the previous corresponding period, a decrease of 1.42% on YoY basis. EBIT stood at Rs (4.56) crore in Q2FY26, vis-à-vis Rs 12.90 crore in Q2FY25, down by 135.35% YoY. EBIT margin for the quarter decreased to (2.36%) as compared to 6.59% in Q2FY25, owing to Rs 16.35 crore loss in our wholly owned subsidiary, Niart Systems Limited (Niart), Israel. Niart as a Research and Development Company, incurred the cost for development of products and yet to commence commercial production. Since the product is still under development stage the expenditure related to development project was recognized as capital expenditure as per Ind AS 38. The above loss includes Rs 3.24 crore for the quarter ended, which is on account of loss on foreign currency translation as on measurement date as per Ind AS 21. Profit after Tax (PAT) for the quarter decreased by 273.18% to Rs (9.04) crore in Q2FY26 from Rs 5.22 crore in Q2FY25. PAT margin for the quarter decreased by 736bps to (4.69%) as compared to 2.67% in Q2FY25 owing to Rs 16.35 crore loss incurred in our wholly owned subsidiary, Niart Systems Limited., Israel. H.S. Raghavendra Rao, Chairman & Managing Director, DCX Systems, said, “On a standalone basis, this quarter and the half year performance witnessed a steady growth in terms of operational performance compared to previous fiscal year. However, on a consolidated basis the EBIT and PAT witnessed a decrease owing to the consolidation of financials of our subsidiary NIART Systems. Despite the continued geo-political tensions in parts of the world, DCX continue to demonstrate robust operational parameters despite the dynamic market conditions. We will continue to strengthen our strategic efforts and focus areas. In Q2FY26, our consolidated revenue stood at Rs192.85 crore, while EBIT and PAT were Rs (4.56) crore and Rs (9.04) crore, respectively. As of 30th September 2025, the order book position stood at about Rs 2,600 crore, built over a steady inflow of orders. Some of the recent orders we won include those from ELTA Systems, Rafael Advanced Defense Systems, Elbit Systems and other foreign and domestic customers worth more than Rs 50.00 crore. Further, the new JV company with ELTA Systems (ELTX SYSTEMS PVT LTD) to develop EW and Radar Systems is progressing steadily and we expect to setup the infrastructure by end of 2026 and commence operation by 2027. This aligns with our ToT strategy to leverage our manufacturing capabilities and support the Government’s “Make in India” motto. Our focus continues to be on entering new geographies, leveraging Make-in-India initiative and establishing DCX as a Product company through Transfer of Technology (ToT). We shall continue to improve operational efficiencies to deliver sustainable value for all our stakeholders. I thank the entire team of DCX and all our stakeholders for your faith and support which helps us drive the Company forward.” Result PDF
Aerospace & Defence company DCX Systems announced Q1FY26 results Revenue from operations for the quarter stood at Rs 222.16 crore in Q1FY26, as compared to Rs 138.08 crore in Q1FY25, an increase of 60.89% on YoY basis. EBIT stood at Rs 11.54 crore in Q1FY26, vis-à-vis Rs 10.70 crore in Q1FY25, up by 7.85% YoY. EBIT margin for the quarter decreased to 4.87% as compared to 6.84% in Q1FY25. Profit after Tax (PAT) for the quarter increased by 38.10% to Rs 4.06 crore in Q1FY26 from Rs 2.94 crore in Q1FY25. PAT margin for the quarter decreased by 17bps to 1.71% as compared to 1.88% in Q1FY25 owing to Rs 110.21 million loss in our wholly owned subsidiary Niart resulted in a decrease in PAT H.S. Raghavendra Rao, Chairman & Managing Director, DCX Systems, said: “This quarter witnessed growth in terms of revenue compared to YoY of Q1FY25. Despite macroeconomic uncertainties and continued geo-political tensions in parts of the world, DCX has demonstrated resilience in navigating the dynamic market conditions successfully. Recent milestones during this quarter reflect our strategic efforts and focus areas. In Q1FY26, our consolidated revenue stood at Rs 222.16 crore, while EBIT and PAT were Rs 11.54 crore and Rs 4.06 crore, respectively. As of 30th June 2025, the order book position stood at Rs 2,697.00 crore, built over a steady inflow of orders. Some of the recent orders we won include those from ELTA Systems, Rafael Advanced Defense Systems, Elbit Systems and other foreign and domestic customers worth more than Rs 60.00 crore. DCX has obtained Defense Industrial License to manufacture full Radar Systems, EW Systems, Avionics and other Defense Electronic Equipment. This license enables the Company to manufacture items categorized under CATEGORY-A as per the MOD Security Manual. Products falling within this category are considered to be of the highest level of security, and are highly classified and sensitive in nature from a security standpoint. Moreover, the new JV company with ELTA Systems to develop airborne maritime radar systems, fire control radar systems, and other radar systems for airborne and land applications is shaping up steadily and efficiently. This aligns with our ToT strategy to leverage our manufacturing capabilities and support the Government’s “Make in India” motto. Our focus continues to be on entering new geographies, leveraging Make-in-India initiative and establishing DCX as a Product company through Transfer of Technology (ToT). We shall continue to improve operational efficiencies to deliver sustainable value for all our stakeholders. I thank the entire team of DCX and all our stakeholders for your faith and support which helps us drive the Company forward.” Result PDF
Aerospace & Defence company DCX Systems announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: Revenue for the quarter stood at Rs 549.96 crore in Q4FY25, as compared to Rs 746.20 crore in the previous corresponding period, a decrease of 26.30% on YoY basis. EBIT stood at Rs 30.01 crore in Q4FY25, vis-à-vis Rs 51.91 crore in Q4 FY24, down by 42.19% YoY. EBIT margin for the quarter decreased to 5.46% as compared to 6.96% in Q4 FY24. Profit after Tax (PAT) for the quarter decreased by 37.18% to Rs 20.70 crore in Q4FY25 from Rs 32.95 crore in Q4 FY24 which led to decrease in PAT margin by 66bps. FY25 Financial Highlights: Operational Revenue stood at Rs 1,083.67 crore in FY25, decreased by 23.88% from Rs 1,423.58 crore in FY24. EBIT stood at Rs 71.27 crore in FY25, down from Rs 124.41 crore in FY24; YoY decrease of 42.71%. EBIT Margin for the year stood at 6.58%, a decrease of 216 bps as compared to 8.74% in FY24. Profit After Tax (PAT) for the year is Rs 38.88 crore compared to Rs 75.78 crore in the same period of last financial year; YoY decrease of 48.69%. PAT Margin down by 173bps. Consolidated Order Book as on 31 st March 2025 is over Rs 2,855 crores. Commenting on the company’s performance, H.S. Raghavendra Rao, Chairman & Managing Director, DCX Systems, said, “We have closed the fiscal year on a resilient note and sustained through markets headwinds and macro-economic and geo-political uncertainties. In FY25, our consolidated revenue stood at Rs 1,083.67 crore, while EBIT and PAT were Rs 71.27 crore and Rs 38.88 crore, respectively. As of 31st March 2025, the order book position stood at Rs 2,855 crores, built over a steady inflow of orders. Some of the recent orders we won include those from ELTA Systems for Close-In Weapon Systems, worth Rs 483 crores, one for BACKPLANE module assemblies worth Rs 19.3 crores, and two orders from Lockheed Martin for electronic assemblies worth Rs 460.3 crores and Rs 379.7 crores. The repeat business that Lockheed Martin has been giving us reflects the recognition that we have been garnering from global premier companies. Moreover, we entered into another JV agreement with ELTA Systems to develop airborne maritime radar systems, fire control radar systems, and other radar systems for airborne and land applications. This aligns with our ToT strategy to leverage our manufacturing capabilities and support the Government’s “Make in India” motto. Looking at the ongoing year, our focus remains on establishing DCX as a global product company, while delivering sustainable value for all stakeholder I thank the entire team of DCX and all our stakeholders for your faith and support which helps us drive the Company forward.” Result PDF
Aerospace & Defence company DCX Systems announced Q3FY25 results Revenue for the quarter stood at Rs 200.01 crore in Q3FY25, as compared to Rs 198.16 crore in the previous corresponding period, a rise of 0.93% on YoY basis. EBIT stood at Rs 17.65 crore in Q3FY25, vis-a-vis Rs 23.83 crore in Q3FY24. EBIT margin for the quarter decreased to 8.82% as compared to 12.03% in Q3FY24. Profit after Tax (PAT) for the quarter stood at Rs 10.01 crore in Q3FY25 vis-a-vis Rs 13.38 crore in Q3FY24, while PAT margin was 5.00%. H.S. Raghavendra Rao, Chairman & Managing Director, DCX Systems, said: “Despite macro-economic uncertainties and continued geo-political tensions in parts of the world, DCX has demonstrated resilience in navigating the dynamic market conditions. Recent milestones during this quarter reflect our strategic efforts and focus areas. In Q3FY25, our consolidated revenue stood at Rs 200.01 crore, while EBIT and PAT were Rs 17.65 crore and Rs 10.00 crore, respectively. Top line continued to expand based on successful execution of our order book. I am glad to share that we have continued to grow our order book during this quarter by securing several new orders. Our consolidated order book stood at Rs 3,359 crore, as on 31 st December 2024. Some of the new contracts we bagged during this quarter include orders from overseas customers worth USD 160 million as well as from our prestigious customers like IAI-ELTA SYSTEMS and Lockheed Martin. These contracts reflect the strong brand recall that DCX has built for itself in the global markets, through its unmatched product quality, consistency in delivery, and robust production capabilities. I am glad to share that both DCX and our W-o-S Raneal have cleared all its short term and long-term fund based borrowings from the lenders and are now debt free. Further, we have been reassured of A-/Stable and A2+ credit rating for our long-term and shortterm borrowings from the reputed credit rating agency CRISIL, which demonstrates stability in the business. Our focus continues to be on entering new geographies, leveraging Make-in-India initiative and establishing DCX as a Product company through Transfer of Technology (ToT). We shall continue to improve operational efficiencies to deliver sustainable value for all our stakeholders. I thank the entire team of DCX and all our stakeholders for your faith and support which helps us set and achieve new benchmarks.” Result PDF