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Swing Capital

DCX Systems Ltd

NSE: DCXINDIA BSE: 543650

Incorporated in 2011, Dcx Systems Ltd is in the business of System Integration and Cable & Wire Harnessing[1]

₹190
52W: ₹153 — ₹364
PE 60.8 · Book ₹105 · +81% vs book
Market Cap₹2,113 Cr
Stock P/E60.8Price to Earnings
ROCE5.1%Return on Capital
ROE3.14%Return on Equity
Div. Yield0%Face Value ₹2

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Debtor days have improved from 106 to 52.6 days.
  • +Company's working capital requirements have reduced from 20.0 days to 15.6 days

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has a low return on equity of 7.57% over last 3 years.
  • −Earnings include an other income of Rs.50.0 Cr.
  • −Promoter holding has decreased over last 3 years: -19.6%

Shareholding Pattern

Promoters52.17%
FIIs0.83%
DIIs2.91%
Public44.09%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters59.78%57.13%▼2.656.86%▼0.356.86%52.17%▼4.752.17%52.17%52.17%
FIIs1.28%0.77%▼0.51.01%▲0.21.17%▲0.20.71%▼0.51.48%▲0.81.06%▼0.40.83%▼0.2
DIIs8.89%7.88%▼1.05.39%▼2.54.04%▼1.34.56%▲0.53.22%▼1.33.64%▲0.42.91%▼0.7
Public30.05%34.24%▲4.236.75%▲2.537.96%▲1.242.56%▲4.643.14%▲0.643.15%▲0.044.09%▲0.9

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales309.12197.98746.19138.08195.47283.11495.41220.02192.35121.6
Expenses290.09187.13716.02141.2196.69279.96491.33218.92189.17116.81
Operating Profit19.0310.8530.17-3.12-1.223.154.081.13.184.79
OPM %6.16%5.48%4.04%-2.26%-0.62%1.11%0.82%0.5%1.65%3.94%
Net Profit20.4111.8925.944.5110.2111.659.311.137.177.16
EPS ₹2.111.232.330.40.921.050.8310.640.64

AI Insights

Revenue Trend

TTM revenue at ₹1,029Cr, down 7.5% YoY. OPM at 1%.

Debt Position

Borrowings at ₹0Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Institutional Flow

DIIs: 2.91% (-6.38pp change). FIIs: 0.83% (+0.14pp change). Promoters hold 52.17%.

Margin & Efficiency

ROCE improving from 0% (Mar 2019) to 5% (Mar 2025). Working capital days: 16.

Valuation

PE 60.8x with 5.1% ROCE. Price is 81% above book value of ₹105. Dividend yield: 0%.

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