DCX Systems IPO - Investment Rationale, Financials, Risks, Concerns: Motilal Oswal

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Motilal Oswal's IPO Report.DCX Systems Ltd. undertakes 'build-to-print'; system integration and manufacturing of cable and wire harness assemblies. It undertakes system integration in areas of radar systems, sensors, electronic warfare, missiles, and communication systems. It is one of the largest Indian offset partner for the IAI Group, Israel. As of Q1 FY23, DCX Systems order book stood at Rs 26 billion (2.3 times FY22 revenues) which is to be executed by FY25. Indian aerospace and defence sector is poised to attain a value of $70 billion by 2030, led by initiatives like increase in foreign direct investment, government’s push on indigenisation through Atmanirbhar Bharat, production linked incentive scheme and negative Import list, along with revised DAP Policy 2020.DCX’s revenue/Ebitda/profit after tax grew strongly by 57%/228%/ 160% over FY20-FY22, on the back of low base. Given an asset light model, return ratios are robust with FY22 return on equity at 78.9%..Click on the attachment to read the full IPO report:.DISCLAIMERThis report is authored by an external party. BQ Prime 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 BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

DCX Systems IPO - Investment Rationale, Financials, Risks, Concerns: Motilal Oswal

It undertakes system integration in areas of radar systems, sensors, electronic warfare, missiles, and communication systems.

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