Defence company DCX Systems announced Q1FY25 results: Revenue stood at Rs 138.08 crore in Q1FY25 as compared to Rs 170.10 crore in Q1FY24. EBIT stood at Rs 10.70 crore in Q1FY25, vis-à-vis Rs 18.51 crore in Q1FY24. EBIT margin stood at 7.75% in Q1FY25 as compared to 10.88% in Q1FY24. Profit after Tax (PAT) stood at Rs 2.94 crore in Q1FY25 as compared to Rs 9.60 crore in Q1FY24. Order Book as on 30th June 2024, is Rs 1,937 crores. Commenting on the company’s performance, H.S. Raghavendra Rao, Chairman & Managing Director, DCX Systems, said, “We have entered the new fiscal year on a strong note, with performance well in line with expectations during the first quarter. Backed by our commitment to quality and consistency, coupled with our manufacturing prowess, we have been able to grow our order book, while maintaining healthy profit margins. In Q1FY25, our consolidated revenues stood at Rs 138.08 crore, while EBIT and PAT were Rs 10.70 crore and Rs 2.94 crore, respectively. Our order book stood at Rs.1,937 crores, as on 30th June 2024. I am pleased to announce that we won several new contracts during this quarter. These include orders from L&T; India, worth Rs 1,250 crores, and several orders from domestic as well as international clients, totaling Rs 32.21 crores. We also signed a supply and services agreement with IAI, which comes under our MRO line of business. These contracts reflect the trust that DCX has earned among global conglomerates, through its unmatched product quality, consistency in delivery, and robust production capabilities Operations in our subsidiary Raneal Advanced Systems are going as planned, which has been useful in controlling the supply chain. Also, development of our obstacle detection product is also underway, through NIART Systems, our JV with ELTA System, based on radar and optics, for railway safety and efficiency. Our focus remains on penetrating in new geographies, focusing on Make in India initiative and establishing DCX as a Product manufacturing company through Transfer of Technology (ToT) and securing raw materials supply to support the anticipated growth with better margins and rationalizing expenses to improve operational efficiencies. 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
Defence company DCX Systems announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenue stood at Rs 746.20 crore in Q4FY24 as compared to Rs 510.55 crore in Q4FY23. EBIT stood at Rs 51.91 crore in Q4FY24, vis-à-vis Rs 55.16 crore in Q4FY23. EBIT margin stood at 6.96% in Q4FY24 as compared to 10.80% in Q4FY23. Profit after Tax (PAT) stood at Rs 32.95 crore in Q4FY24 as compared to Rs 41.13 crore in Q4FY23. FY24 Financial Highlights: Operational Revenue stood at Rs 1423.58 crore in FY24 from Rs 1253.30 crore in FY23. EBIT stood at Rs 124.41 crore in FY24, up from Rs 111.40 crore in FY23. EBIT Margin for the full year stood at 8.74%in FY 24, as compared to 8.89% in FY23. Profit After Tax (PAT) for the full year is Rs 75.78 crore in FY 24 as compared to Rs 71.68 in FY 23. Order Book as on 31st March 2024, is over Rs 801.16 crore. Commenting on the company’s performance, Dr. H.S. Raghavendra Rao, Chairman & Managing Director, DCX Systems, said, “DCX Systems continued to navigate the turbulent global markets successfully during this quarter. Despite macro-economic headwinds and geo-political tensions, we were able to maintain healthy growth and profit margins. In FY24, our consolidated revenues stood at Rs 1424 crore, while EBIT and PAT were Rs 124.41 crore and Rs 75.78 crore, respectively. This year we clocked the highest turnover in the history of DCX, with our continuous efforts we were able to boost operational efficiency and supply chain measures helped to improve the revenues and margins. We recently raised funds to the tune of approximately Rs 500 crore through QIP. The proceeds out of fund raised through QIP would be utilized towards investment in NIART Systems, our JV agreement with ELTA Systems, we shall be developing and supplying obstacle detection solutions based on radar and optics technologies for the railway industry and also Invest in Opportunities through JV/Subsidiaries catering to Defence and Aerospace Sector through Transfer of Technology from Original Equipment Manufacturers (OEMs). Our backward integration strategy through our 100% subsidiary M/s. Raneal Advanced Systems Private Limited started Commercial production from September 2023 and has been the driving force in controlling the supply chain. Our focus remains on penetrating in new geographies, focusing on Make in India initiative and establishing DCX as a Product manufacturing company through Transfer of Technology (ToT) and securing raw materials supply to support the anticipated growth with better margins and rationalizing expenses to improve operational efficiencies. 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
Defence company DCX Systems announced Q3FY24 & 9MFY24 results: Standalone Q3FY24: Q3FY24 operational revenue was Rs 197.98 crore, showing a decline from Q3FY23's Rs 355.95 crore. EBIT for Q3FY24 stood at Rs 21.28 crore, down from Q3FY23's Rs 28.99 crore. EBIT margin increased to 10.75% in Q3FY24, up from 8.14% in Q3FY23, marking an improvement of 261 basis points. PAT for Q3FY24 was registered at Rs 11.89 crore, a decrease from Rs 17.29 crore in Q3FY23, but the PAT margin increased by 115 basis points to 6.01%. Standalone 9MFY24: Over the 9MFY24, revenue reached Rs 677.20 crore, compared to Rs 743.08 crore over the same period in FY23. EBIT for the 9MFY24 period was Rs 70.63 crore, reflecting a year-over-year growth of 25.05% from Rs 56.48 crore in 9MFY23. EBIT margin for 9MFY24 stood at 10.43%, a significant increase of 283 basis points from 7.60% in 9MFY23. PAT for 9MFY24 rose by 36.33% to Rs 42.16 crore from Rs 30.92 crore in 9MFY23, with PAT margin improving by 206 basis points to 6.22%. Order Book Status: As of December 31, 2023, DCX Systems reported an order book of over Rs 1,095 crore. Strategic Updates: DCX Systems raised approximately Rs 500 crore through a Qualified Institutional Placement (QIP) by issuing 1.46 crore shares. The company entered into a joint venture with ELTA Systems, Israel, launching NIART Systems for railway industry obstacle detection solutions. DCX Systems was recognized as a Four Star Export House. Commercial production commenced at the subsidiary Raneal Advanced Systems specifically for Printed Circuit Board Assemblies. Commenting on the company’s performance, Dr. H.S. Raghavendra Rao, Chairman & Managing Director, DCX Systems, said, “DCX Systems continued to navigate the turbulent global markets successfully during this quarter. Despite macro-economic headwinds and geo-political tensions, we were able to maintain healthy profit margins. In Q3FY24, our revenues stood at Rs 197.98 crore, while EBIT and PAT were Rs 21.28 crore and Rs 11.89 crore, respectively. While lower orders executed under System Integration had a bearing on topline, our efforts to boost operational efficiency and supply chain measures helped improve EBIT margins. We recently raised funds of approximately Rs 500 crore through a successful QIP. The proceeds would be utilized towards investment in NIART Systems, Investment in JVs/Subsidiaries in Defence and Aerospace sector and General Corporate Purposes. DCX through its well laid out strategies and focus is marching ahead to become a technology driven Product manufacturing company in line with the initiatives of Make in India Policy through JVs / Subsidiaries. Through NIART Systems, our JV agreement with ELTA Systems, we shall be developing and supplying obstacle detection solutions based on radar and optics technologies for the railway industry. Our backward integration strategy through Raneal Advanced Systems is also gaining traction as operations at this EMS facility are in swing. We continue to scout to acquire technology (TOT) from OEMs in the area of Aerospace and defence and Civil Applications. We are striving to grow our order book and are optimistic about the future. Our focus remains on securing raw materials to support the anticipated growth and rationalizing expenses to improve operational efficiencies. 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