Tax Expense: ₹21.14 Million (Current Tax: ₹22.38M, Deferred Tax: -₹1.24M)
Profit for the Period (After Tax): ₹42.91 Million
Earnings Per Share (Basic & Diluted): ₹0.39
Key Quantitative Figures - Standalone (H1 FY27)
Revenue from Operations: ₹2,393.44 Million
Other Income: ₹163.77 Million
Total Income: ₹2,557.22 Million
Total Expenses: ₹2,426.72 Million
Profit Before Tax: ₹130.50 Million
Tax Expense: ₹42.80 Million (Current Tax: ₹45.60M, Deferred Tax: -₹2.80M)
Profit for the Period (After Tax): ₹87.70 Million
Earnings Per Share (Basic & Diluted): ₹0.79
Key Quantitative Figures - Consolidated (Q2 FY27)
Revenue from Operations: ₹1,401.72 Million
Other Income: ₹79.17 Million
Total Income: ₹1,480.89 Million
Total Expenses: ₹1,462.11 Million
Profit/(Loss) Before Tax: ₹18.57 Million
Tax Expense: ₹21.14 Million (Current Tax: ₹22.38M, Deferred Tax: -₹1.24M)
Share of Loss from Associate (ELTX): -₹0.21 Million
Profit/(Loss) for the Period (After Tax): -₹2.57 Million
Earnings Per Share (Basic & Diluted): -₹0.02
Key Quantitative Figures - Consolidated (H1 FY27)
Revenue from Operations: ₹2,432.97 Million
Other Income: ₹167.13 Million
Total Income: ₹2,600.10 Million
Total Expenses: ₹2,645.48 Million
Profit/(Loss) Before Tax: -₹46.33 Million
Tax Expense: ₹42.80 Million (Current Tax: ₹45.60M, Deferred Tax: -₹2.80M)
Share of Loss from Associate (ELTX): -₹0.95 Million
Profit/(Loss) for the Period (After Tax): -₹89.13 Million
Earnings Per Share (Basic & Diluted): -₹0.80
Subsidiary and Associate Performance (H1 FY27)
Raneal Advanced Systems Pvt Ltd (Wholly-owned Subsidiary): Revenue ₹437.39M, Net Loss ₹43.45M. ₹397.21M of its revenue was billed to the parent company, DCX.
NIART Systems Ltd (Wholly-owned Subsidiary): Net Loss ₹132.43M. The company is an R&D entity with product under development; ₹62.00M of the loss is attributed to foreign currency translation. No commercial production has commenced.
ELTX Systems Pvt Ltd (Associate, 37% holding): Net Loss ₹0.95M. The company has not yet commenced operations.
Investments
The company has invested a total of ₹3,269.78 Million in its wholly-owned subsidiaries: ₹328.38M in Raneal and ₹2,097.25M in NIART.
An investment of ₹844.15 Million has been made in the associate company, ELTX Systems Pvt Ltd.
Assets and Liabilities (Standalone as of Sep 30, 2026)
Total Assets: ₹18,494.53 Million (Mar 31, 2026: ₹17,385.41M)
Inventories: ₹5,765.11 Million (Mar 31, 2026: ₹4,234.09M)
Trade Receivables: ₹505.76 Million (Mar 31, 2026: ₹1,329.80M)
Cash & Cash Equivalents: ₹1,112.32 Million (Mar 31, 2026: ₹1,091.33M)
Investments: ₹3,269.78 Million (Mar 31, 2026: ₹2,426.56M)
Total Equity: ₹11,957.74 Million (Mar 31, 2026: ₹11,870.05M)
Current Liabilities: ₹6,497.99 Million (Mar 31, 2026: ₹5,482.20M)
Cash Flow (Standalone H1 FY27)
Net Cash from Operating Activities: ₹714.94 Million
Net Cash Used in Investing Activities: -₹693.95 Million (primarily due to investment in subsidiary: -₹843.22M)
Net Cash from Financing Activities: ₹0.00
Net Increase in Cash: ₹20.99 Million
Other Financial Details
Foreign Exchange Impact: Other expenses included a loss of ₹16.39M (Q2) and ₹9.06M (H1) on foreign exchange fluctuation.
Segment Reporting: The company operates in one primary segment (Defence Manufacturing) and one geographic segment.
Paid-up Equity Share Capital: ₹222.78 Million (Face Value ₹2 per share)
Audit and Review
The financial results were reviewed by the Audit Committee and approved by the Board of Directors on November 11, 2026.
The Statutory Auditors, NBS & Co., have issued a limited review report for both standalone and consolidated results.
The Board meeting commenced at 3:30 PM IST and concluded at 3:58 PM IST on November 11, 2026.
