Share price of this small-cap defence stock moved up by 3.45 percent on BSE to hit an intraday high at Rs. 334.3 in the morning trading session of Friday after the company entered into an agreement with Israel Aerospace India Services Private Limited.
With a market capitalisation of Rs. 3,667.4 crore, at 10:22 a.m. the shares of DCX Systems Limited were trading in the green at Rs. 328.9, up by 1.78 percent.
According to the latest regulatory filings in the stock exchanges, DCX Systems Limited entered into a Supply and Services Agreement of electronics systems with Israel Aerospace India Services Private Limited, a domestic entity.
First, the company signed a contract for the supply of products, which includes spare parts, components, accessories, assemblies etc. of electronic systems.
Second, the agreement is for services related to installation, repair, maintenance and support of, or in relation to, electronic systems and/or their parts, accessories assemblies or sub-assemblies etc.
The time period by which the order is to be executed will be defined in the actual purchase/work order when released.
In terms of financials, the company’s revenue from operations fell by 44.4 percent from Rs. 356 crore in Q3 FY22-23 to Rs. 198 crore in Q3 FY23-24. The net profit also declined by 23.5 percent from Rs. 17 crore in Q3 FY22-23 to Rs. 13 crore in Q3 FY23-24.
As of March 2024, FIIs hold 2.3 percent of the shares, whereas DIIs hold 11.19 percent of the shares in the company, aggregating to 13.49 percent of the institutional holdings.
The stock has delivered positive returns of nearly 77.6 percent in the last one year and around 17.8 percent in the last six months. However, so far in 2024, the company has given 5.5 percent of negative returns.
DCX Systems Limited is an India-based defence and aerospace company that is engaged in the manufacturing of electronic sub-systems and cable harnesses.
The company provides a wide range of services to aerospace, land & naval defence systems, satellites and civil aviation.
Written by Shivani Singh
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