Rs 1,937 Crore Order Book: Defence Company Bags New Exports Order Worth Rs 379.67 Crore From Lockheed Martin Global Inc., USA
The company has a market cap of Rs 3,400 crore and as of June 30, 2024, has an order book of Rs 1,937 crore.
Raneal Advanced Systems Private Limited, a wholly-owned subsidiary of DCX Systems Limited, has secured significant export orders valued at USD 4,51,99,440 (approximately Rs 379.67 Crores at an exchange rate of 1 USD = INR 84) from Lockheed Martin Global Inc., USA. These orders are for the supply of Electronic Assemblies and are expected to be executed within a 12-month timeframe. This international business win underscores the company's strong technological capabilities and global market presence.
Earlier, DCX Systems Limited announced a significant milestone for its subsidiary, Raneal Advanced Systems Private Limited. The company has secured an industrial license from the Cochin Special Economic Zone authorities, enabling it to manufacture critical defence electronics, including microwave submodules for missile guidance systems, avionics and defence electronic equipment, and radar and electronic warfare systems. This license will allow Raneal Advanced Systems to produce highly sensitive and classified products at its facility in Bengaluru, contributing to India's growing defence capabilities.
About the Company
DCX Systems Ltd., established in 2011, is a leading Indian company specialising in system integration, cable and wire harness manufacturing, and kitting. Renowned as a trusted Indian Offset Partner (IOP) for foreign original equipment manufacturers (OEMs), particularly in the aerospace and defence sectors, DCX Systems has forged strong partnerships with companies such as ELTA Systems Limited and Israel Aerospace Industries Limited (IAI Group). With a diverse customer base spanning Israel, the United States, Korea, and India, DCX Systems offers a wide range of products and services to clients in the defence industry, multinational corporations, and startups.
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The company collaborates with OEMs in Israel and the US to supply products for aerospace and defence programs, both offset and non-offset. DCX Systems' extensive customer portfolio includes domestic and international OEMs, private companies, and public sector undertakings in India, catering to sectors ranging from defence and aerospace to space ventures and railways. Notable customers include IAIELTA Systems Ltd, Bharat Electronics, IAI, RAFAEL Advanced Defense Systems Ltd, DCX-CHOL Enterprises Inc., ALPHA-ELSEC Defense & Aerospace Systems Pvt Ltd, Alpha Design Technologies Pvt Ltd, Lockheed Martin, SFO Technologies, Astra Rafael Comsys Pvt Ltd, Astra Microwave Products Ltd, METEK and more.
The company has a market cap of Rs 3,400 crore and as of June 30, 2024, has an order book of Rs 1,937 crore. The stock is up over 20 per cent from its 52-week low of Rs 235 per share. Investors should keep an eye on this defence stock.
Disclaimer: The article is for informational purposes only and not investment advice.