DCX Systems Secures ₹483 Crore Order from Elta Systems for CIWS Assemblies
DCX Systems Ltd. has announced the receipt of a significant export order valued at approximately ₹483 crore from Israel-based Elta Systems Ltd. The contract involves the manufacturing and supply of close-in weapon system (CIWS) module assemblies, as confirmed in a regulatory filing. The order value, calculated at an exchange rate of ₹85.50 per USD, totals $56.5 million.
This order aligns with DCX Systems' ongoing operations in the defense and aerospace sectors, supported by its wholly owned subsidiary, Raneal Advanced Systems Pvt. Ltd. The subsidiary received a license in September 2024 from the Ministry of Commerce and Industry to produce defense electronic equipment. The license authorizes the production, assembly, and testing of components, including microwave submodules for missile subsystems and avionics and radar systems.
As of September 30, 2024, DCX Systems reported an order book exceeding ₹2,164 crore. However, the company recorded a revenue decline for the quarter ending September, with revenue decreasing by 36.72% year-on-year to ₹195.62 crore, and net profit falling by 7% to ₹5.22 crore.
DCX Systems, headquartered in Bengaluru, specializes in electronic subsystems, wire harnesses, and cables for defense and aerospace applications, catering to both domestic and international markets.