Reported Earnings • May 28
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: ₹0.69 loss per share (down from ₹3.49 profit in FY 2025). Revenue: ₹7.88b (down 27% from FY 2025). Net loss: ₹77.1m (down 120% from profit in FY 2025). Revenue missed analyst estimates by 39%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Aerospace & Defense industry in India. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Aankondiging • May 21
DCX Systems Limited to Report Q4, 2026 Results on May 27, 2026 DCX Systems Limited announced that they will report Q4, 2026 results on May 27, 2026 Buy Or Sell Opportunity • Apr 18
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to ₹195. The fair value is estimated to be ₹162, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Earnings per share has declined by 44%. Revenue is forecast to grow by 55% in 2 years. Earnings are forecast to grow by 539% in the next 2 years. Buy Or Sell Opportunity • Mar 06
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to ₹191. The fair value is estimated to be ₹159, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years. Earnings per share has declined by 44%. Revenue is forecast to grow by 55% in 2 years. Earnings are forecast to grow by 539% in the next 2 years. Reported Earnings • Feb 14
Third quarter 2026 earnings released: ₹0.22 loss per share (vs ₹0.90 profit in 3Q 2025) Third quarter 2026 results: ₹0.22 loss per share (down from ₹0.90 profit in 3Q 2025). Revenue: ₹1.32b (down 34% from 3Q 2025). Net loss: ₹24.3m (down 124% from profit in 3Q 2025). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Aerospace & Defense industry in India. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Price Target Changed • Feb 13
Price target decreased by 11% to ₹239 Down from ₹269, the current price target is an average from 3 analysts. New target price is 40% above last closing price of ₹170. Stock is down 35% over the past year. The company is forecast to post earnings per share of ₹4.40 for next year compared to ₹3.49 last year. Aankondiging • Feb 06
DCX Systems Limited to Report Q3, 2026 Results on Feb 12, 2026 DCX Systems Limited announced that they will report Q3, 2026 results on Feb 12, 2026 New Risk • Dec 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (28% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Profit margins are more than 30% lower than last year (2.2% net profit margin). Buy Or Sell Opportunity • Nov 19
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 20% to ₹199. The fair value is estimated to be ₹255, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 34%. Revenue is forecast to grow by 50% in 2 years. Earnings are forecast to grow by 262% in the next 2 years. Reported Earnings • Nov 13
Second quarter 2026 earnings released: ₹0.81 loss per share (vs ₹0.47 profit in 2Q 2025) Second quarter 2026 results: ₹0.81 loss per share (down from ₹0.47 profit in 2Q 2025). Revenue: ₹2.05b (up 4.7% from 2Q 2025). Net loss: ₹90.4m (down 273% from profit in 2Q 2025). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Aerospace & Defense industry in India. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Aankondiging • Nov 08
DCX Systems Limited to Report Q2, 2026 Results on Nov 12, 2025 DCX Systems Limited announced that they will report Q2, 2026 results on Nov 12, 2025 Aankondiging • Sep 03
DCX Systems Limited, Annual General Meeting, Sep 26, 2025 DCX Systems Limited, Annual General Meeting, Sep 26, 2025, at 14:00 Indian Standard Time. Reported Earnings • Aug 08
First quarter 2026 earnings released: EPS: ₹0.36 (vs ₹0.26 in 1Q 2025) First quarter 2026 results: EPS: ₹0.36 (up from ₹0.26 in 1Q 2025). Revenue: ₹2.37b (up 72% from 1Q 2025). Net income: ₹40.6m (up 38% from 1Q 2025). Profit margin: 1.7% (down from 2.1% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Aerospace & Defense industry in India. Aankondiging • Aug 02
DCX Systems Limited to Report Q1, 2026 Results on Aug 07, 2025 DCX Systems Limited announced that they will report Q1, 2026 results on Aug 07, 2025 Price Target Changed • Jul 10
Price target decreased by 9.6% to ₹280 Down from ₹310, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of ₹280. Stock is down 36% over the past year. The company is forecast to post earnings per share of ₹6.73 for next year compared to ₹3.49 last year. Reported Earnings • May 28
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: ₹3.49 (down from ₹7.61 in FY 2024). Revenue: ₹11.6b (down 18% from FY 2024). Net income: ₹388.8m (down 49% from FY 2024). Profit margin: 3.3% (down from 5.3% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 23%. Earnings per share (EPS) also missed analyst estimates by 26%. Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Aerospace & Defense industry in India. Aankondiging • May 21
DCX Systems Limited to Report Q4, 2025 Results on May 27, 2025 DCX Systems Limited announced that they will report Q4, 2025 results on May 27, 2025 Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹330, the stock trades at a forward P/E ratio of 47x. Average forward P/E is 45x in the Aerospace & Defense industry in India. Total returns to shareholders of 6.6% over the past year. New Risk • Apr 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Profit margins are more than 30% lower than last year (4.0% net profit margin). Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹273, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 40x in the Aerospace & Defense industry in India. Total loss to shareholders of 13% over the past year. Aankondiging • Mar 18
DCX Systems Limited Approves the Appointment of Ramegowda Shiva Kumar as an Executive Director DCX Systems Limited approved the appointment of Mr. Ramegowda Shiva Kumar (Din:08678987) as an Executive Director of the Company, at its Postal Ballot. Price Target Changed • Feb 19
Price target decreased by 19% to ₹339 Down from ₹419, the current price target is an average from 2 analysts. New target price is 27% above last closing price of ₹266. Stock is down 17% over the past year. The company is forecast to post earnings per share of ₹4.70 for next year compared to ₹7.61 last year. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹261, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 35x in the Aerospace & Defense industry in India. Total loss to shareholders of 20% over the past year. Reported Earnings • Feb 07
Third quarter 2025 earnings released: EPS: ₹0.90 (vs ₹1.38 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.90 (down from ₹1.38 in 3Q 2024). Revenue: ₹2.18b (up 10% from 3Q 2024). Net income: ₹100.1m (down 25% from 3Q 2024). Profit margin: 4.6% (down from 6.8% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Aerospace & Defense industry in India. Aankondiging • Jan 31
DCX Systems Limited to Report Q3, 2025 Results on Feb 06, 2025 DCX Systems Limited announced that they will report Q3, 2025 results on Feb 06, 2025 Reported Earnings • Nov 17
Second quarter 2025 earnings released: EPS: ₹0.47 (vs ₹2.05 in 2Q 2024) Second quarter 2025 results: EPS: ₹0.47 (down from ₹2.05 in 2Q 2024). Revenue: ₹1.96b (down 37% from 2Q 2024). Net income: ₹52.2m (down 74% from 2Q 2024). Profit margin: 2.7% (down from 6.4% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Aerospace & Defense industry in India. Aankondiging • Nov 08
DCX Systems Limited to Report Q2, 2025 Results on Nov 12, 2024 DCX Systems Limited announced that they will report Q2, 2025 results on Nov 12, 2024 Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹355, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 41x in the Aerospace & Defense industry in India. Total returns to shareholders of 24% over the past year. Board Change • Oct 16
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. 1 highly experienced director. Founder, Chairman of the Board & MD H. S. Rao is the most experienced director on the board, commencing their role in 2012. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Oct 09
DCX Systems Limited Announces Resignation of Neal Jeremy Castleman as Non-Executive and Non-Independent Director DCX Systems Limited announced that Mr. Neal Jeremy Castleman, vide his letter dated October 07, 2024 has tendered his resignation as Non-Executive and Non-Independent Director of the Company due to personal reasons and the Company has received the said communication on October 09, 2024. Aankondiging • Aug 23
DCX Systems Limited, Annual General Meeting, Sep 26, 2024 DCX Systems Limited, Annual General Meeting, Sep 26, 2024, at 14:30 Indian Standard Time. Reported Earnings • Aug 13
First quarter 2025 earnings released: EPS: ₹0.26 (vs ₹0.99 in 1Q 2024) First quarter 2025 results: EPS: ₹0.26 (down from ₹0.99 in 1Q 2024). Revenue: ₹1.56b (down 8.1% from 1Q 2024). Net income: ₹29.4m (down 69% from 1Q 2024). Profit margin: 1.9% (down from 5.6% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Aerospace & Defense industry in India. Aankondiging • Aug 06
DCX Systems Limited to Report Q1, 2025 Results on Aug 12, 2024 DCX Systems Limited announced that they will report Q1, 2025 results on Aug 12, 2024 Aankondiging • Jul 09
DCX Systems Limited Announces Demise of Panchangam Nagashayana, Independent Director DCX Systems Limited announced that the sudden and untimely demise of Mr. Panchangam Nagashayana, Independent Director of the Company, on late hours of July 08, 2024. Mr. Panchangam Nagashayana was Independent Director of the Company with effect from 28 January 2022. During his term as Independent Director, the Company has immensely benefited from his advice, guidance to the Board and its Committees. Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹443, the stock trades at a forward P/E ratio of 40x. Average forward P/E is 49x in the Aerospace & Defense industry in India. Total returns to shareholders of 63% over the past year. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹310, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 44x in the Aerospace & Defense industry in India. Total returns to shareholders of 33% over the past year. Reported Earnings • May 18
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: ₹7.61. Revenue: ₹14.7b (up 18% from FY 2023). Net income: ₹757.8m (up 5.7% from FY 2023). Profit margin: 5.1% (down from 5.7% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) missed analyst estimates by 1.2%. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Aerospace & Defense industry in India. New Risk • May 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Aankondiging • May 10
DCX Systems Limited to Report Q4, 2024 Results on May 16, 2024 DCX Systems Limited announced that they will report Q4, 2024 results on May 16, 2024 Aankondiging • Apr 10
DCX Systems Limited Approves the Appointment of Diwakaraiah N J as Chief Financial Officer, Effective from April 11, 2024 DCX Systems Limited has approved the appointment of Mr. Diwakaraiah N J as Chief Financial Officer and Key Managerial Personnel of the Company with effect from April 11, 2024, based on the recommendation of the Nomination and Remuneration Committee and Audit Committee of the Company. Mr. Diwakaraiah N.J has more than 35 years of rich experience in Strategy, planning & Goal setting, Financial, Cost & Management Accounting, Budgeting & Budgetary Review and Control, Commercial Operations including its Legal aspects. Education includes LL.B from Karnataka State Law University, CMA from Institute of Cost Accountants of India, and B.Com from Bangalore University. He has adeptly steered diverse roles and proficient in Systems and I.T., deploying ERP Systems across multiple products and a nationwide network. Career spans roles like Managing Director at Vaatsalya Healthcare Solutions Pvt. Ltd, Financial Controller at Gokaldas Exports Limited, and Vice President Finance at Arvind Retail Limited. Noteworthy achievements include orchestrating a turnaround at Vaatsalya Healthcare Solutions Pvt. Ltd, strategizing profitable growth at Gokaldas Exports Limited, and providing strategic guidance at Arvind Retail Limited. New Risk • Mar 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₹246, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 37x in the Aerospace & Defense industry in India. Total returns to shareholders of 58% over the past year. Aankondiging • Feb 08
DCX Systems Limited Appoints Gurumurthy Hegde as Company Secretary, Legal and Compliance Officer DCX Systems Limited announced appointment of Mr. Gurumurthy Hegde (Membership No: A24285) as the Company Secretary, Legal and Compliance Officer of the Company with effect from 08th February 2024. Mr. Gurumurthy Hegde, a qualified Company Secretary, having more than 13 years of work experience in the field of Corporate Secretarial, Compliance and Legal matters. He holds a Bachelor of Law Graduation from Bangalore University. Prior to joining the Company, he has worked with M/s. Alpha Design Technologies Pvt. Ltd. (Adani Group of Companies). Aankondiging • Feb 02
DCX Systems Limited to Report Q3, 2024 Results on Feb 08, 2024 DCX Systems Limited announced that they will report Q3, 2024 results on Feb 08, 2024 Reported Earnings • Jan 19
Second quarter 2024 earnings released: EPS: ₹2.05 (vs ₹1.02 in 2Q 2023) Second quarter 2024 results: EPS: ₹2.05 (up from ₹1.02 in 2Q 2023). Revenue: ₹3.09b (up 78% from 2Q 2023). Net income: ₹198.5m (up 152% from 2Q 2023). Profit margin: 6.4% (up from 4.5% in 2Q 2023). The increase in margin was driven by higher revenue. Aankondiging • Jan 17
DCX Systems Limited has filed a Follow-on Equity Offering. DCX Systems Limited has filed a Follow-on Equity Offering.
Security Name: Equity Shares
Security Type: Common Stock
Transaction Features: Subsequent Direct Listing New Risk • Nov 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Aankondiging • Nov 17
DCX Systems Limited Constitutes Fund-Raising Committee DCX Systems Limited announced that at the Board of Directors meeting held on November 16, 2023 the board has constituted Fund-Raising Committee. The Fund Raising Committee consists of the following, namely: Dr. Raghavendra Rao Hosakote Shamarao- Chairman and Member; Mr. Ranga K S- Member and Mr. Nagashayana. P- Member. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹331, the stock trades at a trailing P/E ratio of 36.5x. Average trailing P/E is 45x in the Aerospace & Defense industry in India. Total returns to shareholders of 24% over the past year. Reported Earnings • Nov 01
Second quarter 2024 earnings released: EPS: ₹2.05 (vs ₹1.02 in 2Q 2023) Second quarter 2024 results: EPS: ₹2.05 (up from ₹1.02 in 2Q 2023). Revenue: ₹3.09b (up 78% from 2Q 2023). Net income: ₹198.5m (up 152% from 2Q 2023). Profit margin: 6.4% (up from 4.5% in 2Q 2023). The increase in margin was driven by higher revenue. Aankondiging • Oct 24
DCX Systems Limited to Report First Half, 2024 Results on Oct 30, 2023 DCX Systems Limited announced that they will report first half, 2024 results on Oct 30, 2023 Reported Earnings • Aug 04
First quarter 2024 earnings released: EPS: ₹0.99 (vs ₹0.72 in 1Q 2023) First quarter 2024 results: EPS: ₹0.99 (up from ₹0.72 in 1Q 2023). Revenue: ₹1.81b (down 15% from 1Q 2023). Net income: ₹96.0m (up 72% from 1Q 2023). Profit margin: 5.3% (up from 2.6% in 1Q 2023). The increase in margin was driven by lower expenses. Aankondiging • Jul 29
DCX Systems Limited to Report Q1, 2024 Results on Aug 03, 2023 DCX Systems Limited announced that they will report Q1, 2024 results on Aug 03, 2023 New Risk • Jul 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (90% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.3% average weekly change). Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹232, the stock trades at a trailing P/E ratio of 31.3x. Average trailing P/E is 31x in the Aerospace & Defense industry in India. Reported Earnings • May 25
Full year 2023 earnings released: EPS: ₹8.44 (vs ₹9.19 in FY 2022) Full year 2023 results: EPS: ₹8.44. Revenue: ₹12.8b (up 16% from FY 2022). Net income: ₹716.8m (up 9.3% from FY 2022). Profit margin: 5.6% (down from 6.0% in FY 2022). The decrease in margin was driven by higher expenses. Aankondiging • May 13
DCX Systems Limited to Report Q4, 2023 Results on May 19, 2023 DCX Systems Limited announced that they will report Q4, 2023 results on May 19, 2023 Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹166, the stock trades at a trailing P/E ratio of 25.5x. Average trailing P/E is 26x in the Aerospace & Defense industry in India. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹175, the stock trades at a trailing P/E ratio of 27.7x. Average trailing P/E is 28x in the Aerospace & Defense industry in India. Reported Earnings • Jan 24
Third quarter 2023 earnings released Third quarter 2023 results: EPS: ₹1.94. Net income: ₹171.1m (up ₹171.1m from 3Q 2022). Aankondiging • Jan 17
DCX Systems Limited to Report Q3, 2023 Results on Jan 23, 2023 DCX Systems Limited announced that they will report Q3, 2023 results on Jan 23, 2023 Aankondiging • Dec 27
DCX Systems Limited Announces Change in Designation of Sankarakrishnan Ramalingam from Whole Time Director and Kmp to Non-Executive Director The Board of Directors of DCX Systems Limited at its meeting held on December 26, 2022 pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Mr. Sankarakrishnan Ramalingam (DIN: 00078459) has expressed his unwillingness to continue as Whole Time Director and KMP of the Company and he has agreed to continue as a Non-Executive Director of the Company with effect from December 26, 2022. Reason for change: Mr. Sankarakrishnan Ramalingam (DIN: 00078459) was appointed as Whole Time Director and KMP of the Company with effect from January 28, 2022. Considering his prospective assignments, he intimated to the Board that he will not be able to devote full time services to the Company and hence he expressed his unwillingness to continue as Whole Time Director and KMP of the Company and he has agreed to continue as a Non-Executive Director of the Company, who is liable to retire by rotation. Date of cessation: December 26, 2022, from the Whole-time Directorship and KMP of the Company. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹200, the stock trades at a trailing P/E ratio of 30.3x. Average trailing P/E is 26x in the Aerospace & Defense industry in India. Reported Earnings • Nov 18
Second quarter 2023 earnings released Second quarter 2023 results: EPS: ₹1.02. Net income: ₹78.8m (up ₹78.8m from 2Q 2022). 
