"DCX Systems IPO Review"
2022 ke end hone se pehle market mai kaafi dino baad ek naya IPO aaya hai…. Interesting baat yeh hai ki iss 500 crore IPO mai 400 crore fresh issue hai aur sirf 100 crore FPO hai. Besides, maximum rating agency aur individual analysts ne isse Subscribe karne ko kaha hai. Thanks to the reasonable valuations, strong order book, visibility on cashflows and industry tailwinds.
Toh chaliye dekhte hain iss naye IPO ko detail mai with company analysis and review:
DCX Systems IPO Details:
IPO Opens On
Oct 31, 2022
IPO Closes On
Nov 2, 2022
₹197 – ₹207
Ab jaante hain DCX company ke baare mai:
DCX System Limited ek cable harnesses aur electronic sub-systems manufacturing company hai. Iss company ki shuruwaat 2011 mai hui aur yeh apne sector mai ek leading player hai. The company has been a preferred Indian Offset Partner (“IOP”) for foreign original equipment manufacturers (“OEMs”) for executing aerospace and defence manufacturing projects.
- Cable, Wire Harness Assemblies.
- System integration in electronic warfare, missiles, radar systems and communication systems.
- Kiting – Supply of assembly-ready kitsof electronic and electro-mechanical parts.
DCX Systems' ka revenue from operations kuch iss prakar hai
- FY 2020 – Rs. 4,492.62 million, EBIDTA Margin – 9.7% Net Worth – 172 million
- FY 2021 – Rs. 6,411.63 million, EBIDTA Margin – 4.8% Net Worth – 468 million
- FY 2022 – Rs. 11,022.73 million, EBIDTA Margin – 9.4% Net Worth – 1,176 million
DCX Systems ke customers India mai hi nahi, bahar bhi hain, jaise ki Israel, the United States, Korea – aur unn mai se kuch companies Fortune 500 companies, multinational corporations bhi hain.
The customer base includes domestic and international OEMs, private companies and public sector undertakings in India across different sectors, ranging from defence and aerospace to space ventures and railways.
What are the competitive strengths of this IPO?
Yeh company ‘Defence space’ mai ek fast growing company hai. Iss ‘Make in India’, ‘Atmanirbhar Bharat’ era mai, iss company ka future bright hai. Well because the growing Indian landscape for defence and aerospace may serve as a key opportunity for DCX Systems.
Besides, the recent initiatives like an increase in FDI in the Indian defence sector from the current 49% to 74% under the automatic route are anticipated to open new growth opportunities for the industry.
The issue price of DCX Systems also seems to be fairly priced based on their valuations. Which is why investors can gain both, long-term as well as listing gains.
GMP trends of DCX Systems
DCX Systems Ltd ne Grey market mai debut kar liya hai aur waahan ek share Rs. 90 mai mil raha hai
shares of DCX Systems Ltd have made debut in grey market and its one share is available at a premium of ₹90.
Ab dekhte hain analysts kya keh rahe hain –
According to Angel One,
“DCX Systems has better revenue growth CAGR of 57 per cent and PAT CAGR of 159 per cent over the last two years. It has healthy return on equity and a strong order book of Rs 2,564 crore, which provide visibility for the next 2 years. Considering all the positive factors, we believe valuations are at reasonable levels.”
According to Sushil Finance,
“There are listed peers like BDL trading at P/E 32 times (Lowest) and Paras Defence trading at P/E 84 times (highest) and industry average P/E is 62 times. The Indian government has banned defence-based imports that will boost indigenous manufacturing within India. DCX Systems is preferred IOP for foreign OEMs for executing defence manufacturing projects.”
According to BP Equities,
“To enhance its global presence, the company continues to strengthen its international operations in Israel, the United States and Korea and also aims to expand its global-footprint to Europe. The shift from passive to active radar solutions will also provide numerous opportunities for the company.”
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