DCX Systems Q1 Review- Focus On Robust Order Pipeline, Improving Mix, Traction In NIART: DRChoksey

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..DRChoksey Research Report.The first quarter has always been a lackluster quarter for DCX systems Ltd., and it was no exception this time. However, Raneal Advanced Systems (PCBA Arm of DCX) delivered a revenue of Rs 424 million. At the same time NIART Systems (Railway JV) has geared up and is ready for mass production with assets of Rs 4,752 million.Operationally, DCX Systems saw a 19% YoY revenue decline to Rs 1,381 million, due to a traditionally slow Q1. Rising material costs led to an operating loss of INR 48 million and net profit dropped 69% YoY to Rs 29 million. However, we believe healthy recovery is expected from customers against the increase raw material prices under the BOM guarantee.We maintain our 'Buy' rating due to a strong order book of Rs 19,370 million, a healthy order pipeline in cable and wire harnessing and system integration, and a positively evolving mix of system integration and non-system integration businesses, supported by the strong potential lying with NIART Systems. We also maintain our target price of Rs 519, based on a price to earning multiple of 36 times on FY26 earning per share..Click on the attachment to read the full report:.NCL India Q1 Results Review - Net Profit Largely Inline; Revenue/Ebitda Miss: Axis Securities.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

DCX Systems Q1 Review- Focus On Robust Order Pipeline, Improving Mix, Traction In NIART: DRChoksey

The brokerage believes Q2 should add more visibility in terms of quantum of acceleration on the growth given strong order pipeline of the company.

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DCX Systems Q1 Review- Focus On Robust Order Pipeline, Improving Mix, Traction In NIART: DRChoksey

The brokerage believes Q2 should add more visibility in terms of quantum of acceleration on the growth given strong order pipeline of the company.

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