Defence company DCX Systems announced Q4FY23 & FY23 results: Standalone Q4FY23: Revenue for the quarter was Rs 510.55 crore, compared with Rs 374.04 crore in Q4FY22, driven by continuous execution of the order book EBITDA (excluding other income & forex loss) stood at Rs 49.82 crore in Q4FY23, vs Rs 45.11 crore in Q4FY22 EBITDA margin for the quarter stood at 9.76%, a decrease of 230 bps as compared to 12.06% in Q4FY22. A higher share of system integration projects executed during this quarter had a bearing on the overall blended margins. Profit After Tax (PAT) for the quarter is Rs 41.09 crore compared to Rs 32.42 crore in Q4FY22 Standalone FY23: In FY23, revenue stood at Rs 1,253.63 crore with a YoY growth of 13.73%. Growth was mainly driven by the ongoing conversion of the order book. In FY23, EBIDTA (excluding other income & forex loss) stood at Rs 113.01 crore – YoY growth of 34.73% EBIDTA margin at 9.01% - YoY improvement of 140 bps PAT for FY23 stood at Rs 72.01 crore, compared with Rs 65.61 crore in FY22 Commenting on the company’s performance, Dr. H.S. Raghavendra Rao, Chairman & Managing Director, DCX Systems, said, “Our Q4 & FY2022-23 performance has been in line with expectations. Despite headwinds in the global supply chains, hardening interest rates in USD borrowings, and steep depreciation of INR v/s USD during the year, the company has been able to navigate successfully and execute projects, delivering value to clients and stakeholders. The fourth quarter witnessed stability in business, signs of improvement in the supply chain, and a reduction in borrowings. In FY23, our revenues stood at Rs 1,253.63 crore, growing 13.73% year-on-year. EBITDA (excluding other income and FX loss) and PAT grew 34.73% and 9.75% to Rs 113.00 crore and Rs 72.01 crore, respectively. Top-line growth was driven by the successful execution of projects. Despite a change in product mix during this quarter, margins improved on account of better operational efficiencies. Our ongoing backward integration plans are progressing well. We have invested Rs 6.60 crore in Raneal Advanced Systems and continue to focus on our EMS business, which would leverage our manufacturing expertise. On the System Integration front, our relationship with IAI continues to grow stronger with incremental orders in the pipeline. Based on the positive feedback, we are also exploring non-IOP-based projects in this line of business. While we are open to acquiring product technology in Aerospace, Defence, and Civil Applications, potential inorganic growth opportunities under Make-In-India and Aatmanirbhar Bharat programs would also support growth. We have a strong pipeline of orders, based on which we are optimistic for the near and medium-term future. We continue to focus on procuring raw materials to support the anticipated growth while striving to maintain and 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