DCX Systems shares surge 15% as Q2 net loss narrows; stock still down 17% in 2026

DCX Systems Ltd shares jumped 15% today, after the company reported a sharp narrowing in its consolidated net loss for the September quarter of FY27. The defence electronics manufacturer's loss fell to around Rs 0.26 crore from Rs 9.04 crore in the year-ago quarter, although revenue from operations declined 27% year-on-year (YoY).

The company reported consolidated revenue from operations of Rs 140.17 crore for the September quarter, compared with Rs 192.85 crore in the corresponding period last year. Total income stood at Rs 148.09 crore, against Rs 204.90 crore a year earlier. Despite the decline in revenue, total expenses also came down to Rs 146.21 crore from Rs 210.21 crore.

DCX Systems shares touched a high of Rs 167.80 in Thursday's trade, gaining 14.89% from their previous close of Rs 146.05. The stock opened at Rs 147.65 and touched a low of Rs 147.15 during the session. Despite this, the scrip is down 17% in 2026 so far.

DCX Systems Q2 results: Standalone performance

On a standalone basis, the company's revenue from operations declined 28.1% YoY to Rs 138.23 crore from Rs 192.35 crore in the September quarter of FY26. Profit after tax (PAT) fell 40.1% to Rs 4.29 crore from Rs 7.17 crore in the year-ago period. Standalone profit before tax stood at Rs 6.41 crore, compared with Rs 10.87 crore a year earlier.

The consolidated results include the performance of DCX Systems' subsidiaries Raneal Advanced Systems Private Ltd and NIART Systems Ltd, along with associate company ELTX Systems Private Ltd. The company reported a combined loss from these entities and the associate for the quarter, which contributed to the consolidated loss.

DCX Systems on fund utilisation

In a separate exchange filing, DCX Systems said there was no deviation or variation in the utilisation of funds raised through its initial public offering (IPO) and qualified institutional placement (QIP), as of September 30, 2026. The company said the statement had been reviewed by its audit committee at a meeting held on November 11.