Dixon Technologies (India) Ltd
Dixon Technologies (India) Limited, incorporated in 1993 , is a Electronic Manufacturing Services (EMS) company with operations in the electronic products vertical such as consumer electronics, lighting, home appliance, closed-circuit television cameras (CCTVs), and mobile phones. It also undertakes reverse logistics operations. Besides, it manufactures security surveillance equipment, wearables & audibles, AC-PCBs. Recently, it has entered a JV with Imagine Marketing Private Limited for designing and manufacturing wireless audio solutions in India.[1]
- Market Cap ₹ 50,361 Cr.
- Current Price ₹ 8,419
- High / Low ₹ 8,657 / 2,858
- Stock P/E 244
- Book Value ₹ 211
- Dividend Yield 0.04 %
- ROCE 24.2 %
- ROE 20.4 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company has delivered good profit growth of 30.1% CAGR over last 5 years
- Company's median sales growth is 31.4% of last 10 years
- Company's working capital requirements have reduced from 13.7 days to 10.0 days
Cons
- Stock is trading at 40.0 times its book value
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Consumer Durables Industry: Electronics - Consumer
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
568 | 725 | 1,062 | 1,115 | 1,252 | 1,645 | 2,210 | 2,526 | 3,672 | 5,675 | 7,484 | 6,997 | 6,690 | |
564 | 710 | 1,043 | 1,092 | 1,223 | 1,560 | 2,104 | 2,400 | 3,467 | 5,401 | 7,201 | 6,631 | 6,333 | |
Operating Profit | 4 | 15 | 18 | 23 | 29 | 85 | 107 | 126 | 204 | 274 | 284 | 367 | 357 |
OPM % | 1% | 2% | 2% | 2% | 2% | 5% | 5% | 5% | 6% | 5% | 4% | 5% | 5% |
2 | 0 | 8 | 1 | 26 | 0 | 3 | 4 | 9 | 2 | 3 | 15 | 30 | |
Interest | 9 | 8 | 8 | 6 | 7 | 15 | 13 | 26 | 39 | 31 | 35 | 39 | 43 |
Depreciation | 4 | 4 | 4 | 5 | 6 | 10 | 14 | 20 | 32 | 38 | 51 | 58 | 65 |
Profit before tax | -7 | 3 | 14 | 13 | 41 | 61 | 82 | 84 | 142 | 206 | 200 | 285 | 280 |
Tax % | 20% | 44% | 22% | 24% | 12% | 28% | 31% | 33% | 22% | 26% | 25% | 26% | |
-6 | 2 | 11 | 10 | 36 | 44 | 57 | 56 | 111 | 152 | 151 | 211 | 207 | |
EPS in Rs | -3.85 | 1.25 | 7.08 | 6.33 | 23.48 | 7.97 | 10.07 | 9.96 | 19.10 | 25.95 | 25.44 | 35.45 | 34.64 |
Dividend Payout % | 0% | 16% | 3% | 3% | 11% | 15% | 4% | 4% | 4% | 4% | 8% | 8% |
Compounded Sales Growth | |
---|---|
10 Years: | 25% |
5 Years: | 26% |
3 Years: | 24% |
TTM: | -4% |
Compounded Profit Growth | |
---|---|
10 Years: | 54% |
5 Years: | 30% |
3 Years: | 24% |
TTM: | 14% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 80% |
3 Years: | 29% |
1 Year: | 194% |
Return on Equity | |
---|---|
10 Years: | 21% |
5 Years: | 21% |
3 Years: | 21% |
Last Year: | 20% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 3 | 3 | 3 | 3 | 3 | 11 | 11 | 11 | 12 | 12 | 12 | 12 | 12 |
Reserves | 57 | 59 | 69 | 78 | 110 | 179 | 292 | 349 | 503 | 691 | 910 | 1,154 | 1,248 |
114 | 87 | 87 | 65 | 70 | 43 | 45 | 139 | 76 | 223 | 373 | 243 | 287 | |
87 | 111 | 108 | 136 | 145 | 265 | 320 | 605 | 831 | 1,494 | 1,431 | 1,323 | 1,676 | |
Total Liabilities | 261 | 259 | 268 | 283 | 328 | 498 | 668 | 1,103 | 1,421 | 2,419 | 2,726 | 2,732 | 3,223 |
66 | 66 | 71 | 76 | 85 | 129 | 168 | 207 | 350 | 381 | 608 | 741 | 753 | |
CWIP | 4 | 5 | 0 | 0 | 0 | 2 | 16 | 19 | 10 | 72 | 19 | 52 | 75 |
Investments | 7 | 8 | 9 | 9 | 25 | 9 | 13 | 18 | 45 | 140 | 227 | 138 | 124 |
184 | 181 | 188 | 198 | 217 | 359 | 471 | 859 | 1,016 | 1,826 | 1,872 | 1,801 | 2,270 | |
Total Assets | 261 | 259 | 268 | 283 | 328 | 498 | 668 | 1,103 | 1,421 | 2,419 | 2,726 | 2,732 | 3,223 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
4 | 43 | 6 | 40 | 26 | 46 | 61 | -12 | 238 | 158 | 214 | 404 | |
-3 | -6 | 2 | -11 | -19 | -39 | -97 | -54 | -93 | -266 | -249 | -283 | |
-1 | -37 | -9 | -29 | -7 | -7 | 42 | 67 | -61 | 51 | 110 | -189 | |
Net Cash Flow | -0 | -0 | -1 | 0 | 0 | -0 | 7 | 1 | 84 | -57 | 75 | -67 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 34 | 19 | 13 | 15 | 20 | 30 | 21 | 63 | 43 | 65 | 41 | 49 |
Inventory Days | 51 | 45 | 32 | 35 | 29 | 41 | 45 | 50 | 42 | 40 | 35 | 26 |
Days Payable | 57 | 56 | 33 | 43 | 40 | 59 | 45 | 92 | 82 | 103 | 71 | 71 |
Cash Conversion Cycle | 28 | 8 | 12 | 7 | 9 | 11 | 21 | 21 | 2 | 2 | 5 | 3 |
Working Capital Days | 45 | 28 | 23 | 17 | 17 | 17 | 17 | 33 | 16 | 18 | 13 | 10 |
ROCE % | 1% | 8% | 15% | 13% | 23% | 37% | 33% | 26% | 33% | 31% | 21% | 24% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2d - The Company has arranged a Conference Call for the Audited Financial Results (Standalone and Consolidated) of the Company for the Quarter and Financial year ended …
- Corporate Action-Board to consider Dividend 2d
- Board Meeting Intimation for Inter Alia, (I) Consider And Approve The Audited Financial Results For The Quarter And Financial Year Ended 31St March, 2024 And (Ii) Consider The Proposal Of Declaration Of Dividend For The Financial Year 2023-24. 2d
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
7 May - Read with Para A and Part A of schedule III of the said regulations, we hereby inform that the Company's officials had Meeting with the …
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Announcement Under Regulation 30 SEBI LODR- Updates
7 May - Dixon''s Subsidiary, Dixon Electro Appliances Private Limited enters into an Agreement with Nokia Solutions and Networks OY for development and manufacturing of Telecom products.
Annual reports
Concalls
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Feb 2024Transcript PPT
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Oct 2023TranscriptPPT
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Jul 2023Transcript PPT
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Oct 2022TranscriptPPT
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Nov 2020TranscriptPPT
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Nov 2018Transcript PPT
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Aug 2018Transcript PPT
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May 2018Transcript PPT
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Feb 2018Transcript PPT
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Nov 2017Transcript PPT
Market Leadership
Dixon is the one of the largest LED TV manufacturers in India and it services more than 35% of India’s requirement. [1] It is the largest ODM player in lighting & has the largest capacity in various SKU’s. With around 160 models in the semi-automatic category, the Co. has the largest product portfolio ranging from 6kgs to 14kgs. [2]