DCX Systems Gets Export Purchase Order Worth Rs 483 Crore From Israel's Elta Systems
The Rs 483 crore order from Elta Systems strengthens DCX Systems' position in the defence manufacturing sector, marking another milestone in its export capabilities.
DCX Systems Ltd. on Friday said it received an export purchase order worth Rs 483 crore from Israel-based Elta Systems Ltd. The order involves the manufacture and supply of close-in weapon system (CIWS) module assemblies to Elta.
In September, wholly owned subsidiary Raneal Advanced Systems Pvt. received a license from the Union Ministry of Commerce and Industry to manufacture defence electronic equipment.
Apart from granting the permit to make defence electronic equipment, the license allows Raneal Advanced Systems to produce, assemble, and test "microwave submodules for command and guidance units for missile subsystems.".
The license, which is valid for 15 years, also allows the company to manufacture avionics and radar systems. The facility where the above products will be manufactured is based in Bengaluru, DCX Systems noted.
DCX Systems manufactures and supplies electronic subsystems, wire harnesses, and cables for the defence and aerospace sectors in India and overseas markets. The order book as of Sept. 30 is over Rs 2,164 crore.
Revenue for the quarter stood at Rs 195.62 crore, a decrease of 36.72% on a yearly basis. Profit fell 7% to Rs 5.22 crore.
DCX Systems' stock closed 0.49% higher at Rs 369.4 apiece on the NSE, ahead of the announcement, compared to a 0.76% decline in the Nifty 50. The stock has risen 8% in the last 12 months.
