DCX Systems Ltd: Share Price Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: December 18, 2024, 8:29 pm

Market Cap	3,645 Cr.
Current Price	327
High / Low	452/235
Stock P/E	69.4
Book Value	102
Dividend Yield	0.00 %
ROCE	9.27 %
ROE	8.08 %
Face Value	2.00
PEG Ratio	-1.70

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for DCX Systems Ltd

Competitors of DCX Systems Ltd

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
MTAR Technologies Ltd	4,780 Cr.	1,556	2,345/1,495	123	228	0.00 %	11.4 %	8.37 %	10.0
DCX Systems Ltd	3,645 Cr.	327	452/235	69.4	102	0.00 %	9.27 %	8.08 %	2.00
Data Patterns (India) Ltd	14,135 Cr.	2,525	3,655/1,751	76.4	241	0.26 %	19.7 %	14.3 %	2.00
Paras Defence and Space Technologies Ltd	4,261 Cr.	1,057	1,593/609	86.3	122	0.00 %	11.4 %	7.96 %	10.0
Zen Technologies Ltd	21,538 Cr.	2,381	2,505/688	106	173	0.04 %	47.2 %	33.0 %	1.00
Industry Average	54,499.42 Cr	1,407.08		73.33	151.00	0.29%	22.03%	16.34%	4.92

All Competitor Stocks of DCX Systems Ltd

Quarterly Result

Month	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Sales	213.25	417.18	374.04	213.25	173.88	355.95	510.55	170.10	309.12	197.98	746.19	138.08
Expenses	208.14	397.05	337.55	208.14	163.98	332.89	464.70	162.22	290.09	187.13	716.02	140.83
Operating Profit	5.11	20.13	36.49	5.11	9.90	23.06	45.85	7.88	19.03	10.85	30.17	-2.75
OPM %	2.40%	4.83%	9.76%	2.40%	5.69%	6.48%	8.98%	4.63%	6.16%	5.48%	4.04%	-1.99%
Other Income	7.00	9.47	1.05	7.00	6.43	6.41	9.70	11.30	12.09	11.01	13.95	16.20
Interest	4.98	2.71	5.01	4.98	6.78	9.02	4.75	6.94	6.24	7.07	8.14	4.91
Depreciation	0.46	0.56	0.57	0.46	0.48	0.48	0.40	0.47	0.48	0.58	0.95	1.31
Profit before tax	6.67	26.33	31.96	6.67	9.07	19.97	50.40	11.77	24.40	14.21	35.03	7.23
Tax %	13.49%	30.80%	-1.47%	13.49%	13.23%	13.42%	18.47%	16.31%	16.35%	16.33%	25.92%	37.48%
Net Profit	5.77	18.21	32.42	5.76	7.87	17.29	41.09	9.85	20.41	11.89	25.94	4.51
EPS in Rs	16.49	52.03	4.19	0.74	1.02	1.79	4.25	1.02	2.11	1.23	2.33	0.40

Last Updated: October 7, 2024, 8:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 23, 2024, 2:39 pm

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	300	449	641	1,102	1,254	1,423	1,391
Expenses	295	443	631	1,035	1,170	1,353	1,334
Operating Profit	5	6	10	67	84	70	57
OPM %	2%	1%	2%	6%	7%	5%	4%
Other Income	9	16	42	22	30	46	53
Interest	6	8	10	11	26	28	26
Depreciation	1	1	2	2	2	2	3
Profit before tax	7	13	40	76	86	85	81
Tax %	37%	24%	26%	13%	16%	20%
Net Profit	5	10	30	66	72	68	63
EPS in Rs	13.11	27.83	84.46	8.48	7.44	6.11	6.07
Dividend Payout %	0%	0%	0%	0%	0%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	100.00%	200.00%	120.00%	9.09%	-5.56%
Change in YoY Net Profit Growth (%)	0.00%	100.00%	-80.00%	-110.91%	-14.65%

DCX Systems Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 5 years from 2019-2020 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	37%
3 Years:	30%
TTM:	-5%

Compounded Profit Growth
10 Years:	%
5 Years:	72%
3 Years:	32%
TTM:	-41%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	%
1 Year:	-9%

Return on Equity
10 Years:	%
5 Years:	19%
3 Years:	16%
Last Year:	8%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 4:41 pm

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	4	4	4	15	19	22	22
Reserves	4	14	43	102	548	1,097	1,111
Borrowings	110	134	136	503	504	265	64
Other Liabilities	371	548	610	322	141	418	567
Total Liabilities	489	699	793	943	1,212	1,802	1,765
Fixed Assets	6	17	16	15	15	32	189
CWIP	3	0	0	0	2	0	0
Investments	4	0	0	0	7	13	4
Other Assets	476	682	778	928	1,188	1,757	1,571
Total Assets	489	699	793	943	1,212	1,802	1,765

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	121	130	114	-134	-586	1
Cash from Investing Activity +	7	8	21	21	19	19
Cash from Financing Activity +	38	19	-2	364	358	223
Net Cash Flow	166	157	133	251	-209	243

Free Cash Flow

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-105.00	-128.00	-126.00	-436.00	-420.00	-195.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	122	71	7	23	93	171
Inventory Days	8	69	119	10	75	34
Days Payable	96	135	77	35	44	104
Cash Conversion Cycle	34	6	49	-2	124	101
Working Capital Days	-188	-229	-217	-66	131	128
ROCE %		15%	30%	22%	13%	9%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoters	71.72%	71.72%	71.72%	71.72%	71.72%	62.30%	59.78%
FIIs	1.75%	0.94%	0.69%	0.07%	0.35%	2.30%	1.28%
DIIs	11.28%	9.69%	9.29%	8.21%	7.02%	11.19%	8.89%
Public	15.25%	17.63%	18.29%	20.00%	20.90%	24.24%	30.05%
No. of Shareholders	69,310	71,998	71,592	70,807	70,963	86,690	1,11,746

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
HDFC Large and Mid Cap Fund - Regular Plan	2,415,384	0.42	77.63	2,415,384	2024-12-17	0%
HDFC Dividend Yield Fund	1,466,276	0.95	47.13	2,415,384	2024-12-17	-39.29%
Bandhan Focused Equity Fund	1,224,933	2.55	39.37	2,415,384	2024-12-17	-49.29%
HDFC Defence Fund	1,069,882	1.28	34.39	2,415,384	2024-12-17	-55.71%
Bandhan Small Cap Fund	613,883	0.4	19.73	2,415,384	2024-12-17	-74.58%
Bandhan Large Cap Fund	426,151	0.98	13.7	2,415,384	2024-12-17	-82.36%
Bandhan Midcap Fund	156,628	0.43	5.03	2,415,384	2024-12-17	-93.52%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	2.00	2.00	2.00	10.00
Basic EPS (Rs.)	7.61	8.44	9.19	4.22
Diluted EPS (Rs.)	7.61	8.44	9.19	4.22
Cash EPS (Rs.)	7.26	7.60	8.76	91.40
Book Value[Excl.RevalReserv]/Share (Rs.)	101.11	58.59	15.19	133.67
Book Value[Incl.RevalReserv]/Share (Rs.)	101.11	58.59	15.19	133.67
Revenue From Operations / Share (Rs.)	127.80	129.61	142.41	1831.89
PBDIT / Share (Rs.)	11.63	11.71	11.51	149.03
PBIT / Share (Rs.)	11.17	11.52	11.22	142.08
PBT / Share (Rs.)	8.49	8.87	9.76	113.73
Net Profit / Share (Rs.)	6.80	7.41	8.48	84.45
NP After MI And SOA / Share (Rs.)	6.80	7.41	8.48	84.45
PBDIT Margin (%)	9.09	9.03	8.07	8.13
PBIT Margin (%)	8.73	8.88	7.88	7.75
PBT Margin (%)	6.64	6.84	6.85	6.20
Net Profit Margin (%)	5.32	5.71	5.95	4.61
NP After MI And SOA Margin (%)	5.32	5.71	5.95	4.61
Return on Networth / Equity (%)	6.72	12.64	55.79	63.17
Return on Capital Employeed (%)	10.83	19.41	56.38	104.43
Return On Assets (%)	4.10	5.87	6.96	3.72
Long Term Debt / Equity (X)	0.01	0.01	0.30	0.00
Total Debt / Equity (X)	0.25	0.89	4.27	2.91
Asset Turnover Ratio (%)	0.92	1.16	1.27	0.00
Current Ratio (X)	2.55	1.85	1.17	1.04
Quick Ratio (X)	2.26	1.49	1.14	0.77
Inventory Turnover Ratio (X)	5.42	9.85	8.12	0.00
Interest Coverage Ratio (X)	4.35	4.42	7.87	5.26
Interest Coverage Ratio (Post Tax) (X)	3.54	3.80	6.79	3.98
Enterprise Value (Cr.)	2729.09	1324.37	0.00	0.00
EV / Net Operating Revenue (X)	1.92	1.06	0.00	0.00
EV / EBITDA (X)	21.07	11.70	0.00	0.00
MarketCap / Net Operating Revenue (X)	2.30	1.13	0.00	0.00
Price / BV (X)	2.91	2.49	0.00	0.00
Price / Net Operating Revenue (X)	2.30	1.13	0.00	0.00
EarningsYield	0.02	0.05	0.00	0.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of DCX Systems Ltd as of December 18, 2024 is: 583.41

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 18, 2024, DCX Systems Ltd is Undervalued by 78.41% compared to the current share price 327.00

Intrinsic Value of DCX Systems Ltd as of December 18, 2024 is: 344.57

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 18, 2024, DCX Systems Ltd is Undervalued by 5.37% compared to the current share price 327.00

Last 5 Year EPS CAGR: -40.94%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a low average Working Capital Days of -73.50, which is a positive sign. The company has higher reserves (417.00 cr) compared to borrowings (245.14 cr), indicating strong financial stability. The company has shown consistent growth in sales (199.14 cr) and profit (55.43 cr) over the years.	The stock has a low average ROCE of 14.83%, which may not be favorable. The stock has a high average Cash Conversion Cycle of 52.00, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in DCX Systems Ltd:
1. Net Profit Margin: 5.32%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 10.83% (Industry Average ROCE: 22.03%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 6.72% (Industry Average ROE: 16.34%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 3.54
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 2.26
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 69.4 (Industry average Stock P/E: 73.33)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.25
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

DCX Systems Ltd. is a Public Limited Listed company incorporated on 16/12/2011 and has its registered office in the State of Karnataka, India. Company’s Corporate Identification Number(CIN) is L31908KA2011PLC061686 and registration number is 061686. Currently company belongs to the Industry of Electronics - Equipment/Components. Company’s Total Operating Revenue is Rs. 1102.27 Cr. and Equity Capital is Rs. 15.48 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Aerospace & Defense	Aerospace SEZ Sector, Plot Nos. 29, 30 and 107, Bengalure Rural Dist. Karnataka 562110	cs@dcxindia.com http://www.dcxindia.com

Management
Name	Position Held
Dr. H S Raghavendra Rao	Chairman & Managing Director
Mr. Neal Jeremy Castleman	Director
Mr. Kalyanasundaram Chandrasekaran	Independent Director
Mr. Panchangam Nagashayana	Independent Director
Ms. Lathika Siddharth Pai	Independent Director
Mr. Prakash Nagabushan	Addnl.Independent Director
Mr. N J Diwakaraiah	Additional Executive Director

FAQ

What is the latest intrinsic value of DCX Systems Ltd?

The latest intrinsic value of DCX Systems Ltd as on 18 December 2024 is ₹583.41, which is 78.41% higher than the current market price of ₹327.00. The stock has a market capitalization of 3,645 Cr. and recorded a high/low of ₹452/235 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹1,111 Cr and total liabilities of ₹1,765 Cr.

What is the Market Cap of DCX Systems Ltd?

The Market Cap of DCX Systems Ltd is 3,645 Cr..

What is the current Stock Price of DCX Systems Ltd as on 18 December 2024?

The current stock price of DCX Systems Ltd as on 18 December 2024 is 327.

What is the High / Low of DCX Systems Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of DCX Systems Ltd stocks is 452/235.

What is the Stock P/E of DCX Systems Ltd?

The Stock P/E of DCX Systems Ltd is 69.4.

What is the Book Value of DCX Systems Ltd?

The Book Value of DCX Systems Ltd is 102.

What is the Dividend Yield of DCX Systems Ltd?

The Dividend Yield of DCX Systems Ltd is 0.00 %.

What is the ROCE of DCX Systems Ltd?

The ROCE of DCX Systems Ltd is 9.27 %.

What is the ROE of DCX Systems Ltd?

The ROE of DCX Systems Ltd is 8.08 %.

What is the Face Value of DCX Systems Ltd?

The Face Value of DCX Systems Ltd is 2.00.