Defence stock which is one of the Preferred & largest Indian Offset partners to the Israeli Defence Company, IAI, and many others, declined by 6 percent in the day’s trade after its promoter sold a part of his holding in the company.
With a market capitalization of Rs. 3,818 Crores, the shares of DCX Systems Limited were trading at Rs. 343.10 per equity share, down 6.46 percent from its previous day’s close price of Rs. 366.80.
As per the data available on NSE Buk/Block deals, the promoter of DCX Systems Limited Mr. Raghavendra Rao Hosakote Shamaroa has sold 7.5 Lakh equity shares of the company at an average price of Rs. 358 aggregating to Rs. 26.85 Crores.
As per the latest shareholding pattern of the company of March 2024, Mr. Raghavendra Rao Hosakote Shamaroa held a 5.04 percent stake consisting of 56.12 Lakh equity shares of DCX Systems Limited.
DCX Systems Limited is among one of the leading Indian Defence manufacturing Players, Offering end-to-end solutions for cable & wire harnesses, electronic subsystems, high-end System Integration, and PCB Assembly for the Defence and Aerospace Industries for both Domestic and International customers. It has an order book of Rs. 801.16 Crores.
DCX Systems Limited is one of the Preferred & largest Indian Offset partner to the Israeli Defence Company, IAI, for its offset obligations. It caters to various industries like Defence, Aerospace, Industrial Electronics, Medical Electronics and many others.
It has a strong clientele base with well-known players like Bharat Electronics, Astra Microwave Products, Israel Aerospace Industries, Rafael Advanced Defensive Systems, Lockheed Martin, and many others.
Its Revenue from operations grew by 46.15 percent from Rs. 510.55 Crores in Q4FY23 to Rs. 746.19 Crores in Q4FY24, accompanied by profits of Rs. 41.09 Crores to Rs. 25.94 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 8.08 percent and a return on capital employed (ROCE) of 9.25 percent. It has reported a debt-to-equity ratio of 0.24.
Written by: Bharath K.S
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