DRC Systems India Ltd.
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ABOUT
AI Sector View
AI GENERATEDInformation Technology
IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.
PROS
- Company is almost debt free
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 5.19x)
- Company has delivered good sales growth of 18.8% CAGR over last 5 years
- Working capital cycle has improved - days down from 66 to -165
- Stock looks reasonably valued - P/E of 57.2 is below its historical median
CONS
- Recent results are weak - TTM profit is down 56.3% versus prior year
- A large part of profit comes from other income (47.6% of PBT)
- Company has a low return on equity of 8.3% over last 3 years
- Company has a low return on capital employed of 10.6%
- Free cash flow has been persistently negative
- Operating margins have contracted to 11.8% from 34.3%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TCS | 2312.00 | 16.80 | 836501.83 | 4.76 | 13420.00 | 4.69 | 72275.00 | 13.93 | 66.25 | 25.67 |
| INFY | 1128.00 | 15.11 | 457768.62 | 4.26 | 7775.00 | 12.29 | 48211.00 | 14.03 | 42.84 | 23.66 |
| HCLTECH | 1310.25 | 20.41 | 355557.97 | 4.12 | 4626.00 | 20.34 | 34579.00 | 13.94 | 31.20 | 19.87 |
| WIPRO | 176.60 | 13.23 | 174910.92 | 6.23 | 3356.30 | 0.59 | 24478.60 | 10.59 | 18.49 | 18.93 |
| TECHM | 1597.00 | 30.48 | 156527.36 | 3.19 | 1486.30 | 31.67 | 15711.90 | 17.68 | 23.04 | 17.43 |
| LTM | 4516.00 | 25.61 | 133954.19 | 1.66 | 1468.60 | 17.06 | 11608.00 | 17.96 | 30.25 | 17.75 |
| OFSS | 12050.00 | 30.75 | 104935.17 | 3.32 | 1415.50 | 120.52 | 3125.20 | 68.73 | 45.50 | 60.04 |
| PERSISTENT | 5624.00 | 46.13 | 88718.60 | 0.71 | 483.04 | 13.67 | 4303.23 | 29.09 | 35.09 | 16.19 |
| COFORGE | 1963.70 | 49.51 | 86987.61 | 0.80 | 531.70 | 49.19 | 5527.70 | 49.86 | 24.70 | 19.14 |
| MPHASIS | 2457.05 | 24.55 | 46899.54 | 2.52 | 489.51 | 10.82 | 4384.05 | 17.46 | 23.31 | 18.15 |
| LTTS | 3498.50 | 28.11 | 37111.23 | 1.66 | 357.10 | 12.97 | 2940.10 | 11.47 | 27.70 | 18.65 |
| DRCSYSTEMS | 13.39 | 9.42 | 192.92 | 0.00 | 55.55 | 1177.89 | 233.84 | 1178.37 | 24.54 | 27.87 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 6 | 9 | 8 | 13 | 10 | 10 | 10 | 12 | 12 | 12 | 12 | 13 | 13 | |
| 5 | 7 | 7 | 11 | 8 | 8 | 9 | 10 | 10 | 10 | 10 | 12 | 13 | |
| Operating Profit | 2 | 2 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 1 | 2 | 1 | -0 |
| OPM % | 24.61% | 22.81% | 8.88% | 8.76% | 18.31% | 16.04% | 15.33% | 17.27% | 14.34% | 12.53% | 16.60% | 4.14% | -0.06% |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | -0 | 1 | 1 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 0 | 0 | 1 | 0 | 0 | 1 | 0 | 0 |
| Profit before Tax | 1 | 1 | 0 | 0 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 |
| Tax % | 25.42% | 25.52% | -233.33% | 27.50% | 23.89% | 23.28% | 21.26% | -0.66% | 25.83% | 22.05% | 26.05% | 25.27% | 25.27% |
| Net Profit | 1 | 1 | 0 | 0 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 |
| 0.07 | 0.08 | 0.01 | 0.02 | 0.06 | 0.07 | 0.08 | 0.11 | 0.07 | 0.07 | 0.06 | 0.05 | 0.06 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| 10 | 13 | 11 | 21 | 20 | 22 | 36 | 42 | 49 | 50 | |
| 11 | 13 | 11 | 19 | 17 | 19 | 30 | 35 | 43 | 46 | |
| Operating Profit | -2 | 0 | -0 | 2 | 2 | 3 | 5 | 7 | 6 | 4 |
| OPM % | -17.48% | 3.57% | -3.04% | 7.45% | 11.66% | 14.88% | 15.26% | 16.79% | 11.76% | 8.03% |
| 3 | 0 | 1 | 0 | 0 | 4 | 0 | 0 | 1 | 2 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 1 |
| Depreciation | 1 | 0 | 0 | 2 | 1 | 1 | 2 | 2 | 2 | 2 |
| Profit before Tax | 0 | 0 | 0 | -1 | 1 | 6 | 3 | 5 | 5 | 4 |
| Tax % | 10.76% | 100.00% | 82.08% | 21.72% | 41.81% | 25.81% | 23.28% | 15.88% | 24.58% | 24.56% |
| Net Profit | 0 | 0 | 0 | -0 | 1 | 4 | 2 | 4 | 3 | 3 |
| EPS | 0.00 | 0.00 | 0.00 | -0.12 | 0.18 | 0.34 | 0.18 | 0.32 | 0.24 | — |
| Dividend Payout % | 0.00% | — | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 19%
- 3 Years:
- 31%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- -6%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 7%
- 3 Years:
- 0%
- 1 Year:
- -34%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 12%
- 3 Years:
- 8%
- Last Year:
- 6%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 2 | 4 | 4 | 4 | 13 | 13 | 14 |
| 1 | 1 | 0 | 2 | 3 | 27 | 21 | 27 | 55 | |
| 4 | 0 | 0 | 0 | 16 | 1 | 1 | 0 | 0 | |
| Trade Payables | 1 | 1 | 1 | 3 | 0 | 1 | 0 | 2 | 5 |
| 5 | 9 | 1 | 6 | 2 | 4 | 8 | 10 | 27 | |
| Total Liabilities | 12 | 12 | 5 | 14 | 25 | 36 | 43 | 53 | 102 |
| 1 | 1 | 0 | 3 | 3 | 5 | 8 | 6 | 4 | |
| 0 | 0 | 0 | 0 | 14 | 20 | 21 | 29 | 39 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 8 | 9 | 2 | |
| Cash & Bank | 3 | 1 | 1 | 2 | 1 | 2 | 1 | 1 | 2 |
| 8 | 11 | 4 | 9 | 7 | 10 | 3 | 7 | 55 | |
| Total Assets | 12 | 12 | 5 | 14 | 25 | 36 | 43 | 53 | 102 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | -2 | -0 | 1 | -1 | 3 | 6 | 8 | 38 | |
| Cash from Investing | 2 | 0 | 0 | 0 | -15 | -5 | -7 | -8 | -62 |
| Cash from Financing | 0 | 0 | -0 | -0 | 15 | 4 | -0 | -0 | 25 |
| 3 | -2 | -0 | 1 | -1 | 2 | -1 | -0 | 0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | |||||||||
| EPS (₹) | 2.33 | 0.00 | 0.05 | -0.12 | 0.18 | 0.96 | 0.18 | 0.32 | 0.24 |
| Book Value (₹) | 16.61 | 17.29 | 10.65 | 1.48 | 1.66 | 7.11 | 2.59 | 3.01 | 4.82 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 0.21 | 0.11 | 0.04 | 0.01 | 0.17 | 0.41 | 0.36 | 0.48 | 0.38 |
| PROFITABILITY | |||||||||
| Operating Margin % | 10.02% | 5.75% | 3.95% | 8.04% | 13.36% | 34.26% | 15.26% | 16.79% | 11.76% |
| Net Margin % | 3.28% | 0.00% | 0.10% | -2.33% | 3.61% | 19.25% | 6.53% | 10.05% | 7.08% |
| ROE % | 14.05% | 0.00% | 0.48% | -11.83% | 11.62% | 22.34% | 7.16% | 11.43% | 6.28% |
| ROCE % | 19.94% | 13.16% | 7.20% | -13.73% | 9.29% | 23.45% | 9.31% | 13.35% | 9.19% |
| 2.60% | 0.00% | 0.13% | -5.05% | 3.64% | 13.75% | 5.93% | 8.95% | 4.46% | |
| EFFICIENCY | |||||||||
| Debtor Days | 264 | 231 | 221 | 104 | 132 | 86 | 65 | 77 | 44 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 264 | 231 | 221 | 104 | 132 | 86 | 65 | 77 | 44 | |
| FINANCIAL HEALTH | |||||||||
| Debt to Equity (x) | 0.00x | 0.00x | 0.00x | 0.00x | 2.37x | 0.00x | 0.00x | 0.00x | 0.00x |
| Interest Coverage (x) | 4.76x | 1.28x | 1.60x | -9.93x | 16.94x | 10.02x | 35.98x | 72.40x | 9.49x |
| 1.81x | 1.19x | 1.93x | 1.27x | 3.58x | 3.51x | 2.64x | 1.77x | 0.27x | |
| GROWTH | |||||||||
| Revenue Growth % | 0.00% | 35.07% | -16.31% | 89.52% | -5.31% | 11.88% | 64.45% | 18.14% | 14.78% |
| Operating Profit Growth % | 0.00% | -22.43% | -42.61% | 286.28% | 57.34% | 186.84% | -25.42% | 32.00% | 7.27% |
| Net Profit Growth % | 0.00% | -100.00% | 0.00% | -4302.63% | 246.78% | 497.28% | -44.23% | 81.78% | -19.12% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -81.52% | 80.11% | -24.96% | |
| VALUATION | |||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 115.25x | 94.00x | 57.07x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 7.88x | 9.94x | 2.83x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 48.17x | 54.25x | 24.71x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-21 - DRC Systems India Limited has informed the Exchange about Copy of Newspaper Advertisement Notice of 14th Annual General Meeting and e-voting information.
2026-08-20 - DRC Systems India Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 17, 2026
2026-08-08 - DRC Systems India Limited has informed the Exchange about Copy of Newspaper Advertisement 14th Annual General Meeting through Video Conferencing/Other Audio- Visual Means ( VC/OAVM ) Facility.
2026-08-06 - DRC Systems India Limited has informed the Exchange regarding Change in Director(s) of the company.
2026-08-06 - DRC Systems India Limited has informed the Exchange about Re-appointment of Mr. Hiten Ashwin Barchha as the Managing Director of the Company.
2026-08-06 - DRC Systems India Limited has informed the Exchange regarding Outcome of Board Meeting held on August 06, 2026.
2026-08-06 - DRC Systems India Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-07 - DRC Systems India Limited has informed the Exchange about Certificate under Regulation 74(5) of SEBI (Depositories & Participants) Regulations, 2018 for the quarter ended June 30, 2026.
2026-06-23 - DRC Systems India Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
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