Shares of this ₹4,800 crore company hit a record high after a mega order from L&T

DCX Systems won a ₹1,250 crore order from L&T

Shares of DCX Systems Ltd., a company that deals in strategic defence and aerospace electronics solutions, hit a record high on Tuesday after it won a mega order from engineering and infrastructure conglomerate Larsen & Toubro Ltd.

The stock rose as much as 16% on Tuesday after it received an order from L&T for the manufacture and supply of electronic modules. The order is said to be worth ₹1,250 crore and will be executed in the next three years.

The total order value for DCX Systems is nearly a quarter of its overall market capitalisation, which is close to ₹5,000 crore after Tuesday's surge.

Last month, the company had received orders worth ₹32.2 crore from domestic and overseas customers for the supply of cable and wire harness assemblies.

DCX Systems aspires to become a technology-driven product company. As of March 31, 2024, its total order book stood at ₹801.16 crore.

For financial year 2024, DCX Systems reported revenue from operations worth ₹1,424 crore, which is a growth of 14% from the previous financial year and the highest ever in the company's history.

Shares of DCX Systems are trading 11.6% higher at ₹423.45, having hit a record high of ₹440 on Tuesday. The stock is up 22% so far this year. The stock is up 20% so far this month, having risen 16% in the month of June.