Dixon Technologies (India) Ltd

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Dixon Technologies (India) is primarily engaged in the manufacturing of electronics as its core business activity.(Source : 202003-01 Annual Report Page No:134)

  • Market Cap 22,014 Cr.
  • Current Price 3,759
  • High / Low 4,588 / 728
  • Stock P/E 154
  • Book Value 102
  • Dividend Yield 0.02 %
  • ROCE 34.2 %
  • ROE 26.2 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 59.42% CAGR over last 5 years

Cons

  • Stock is trading at 36.94 times its book value
  • Promoter holding has decreased over last quarter: -0.97%
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
598 593 739 794 859 1,147 1,402 994 857 517 1,639 2,183
570 567 706 755 821 1,094 1,339 942 802 500 1,549 2,082
Operating Profit 27 26 33 39 38 53 63 52 56 17 89 100
OPM % 5% 4% 4% 5% 4% 5% 4% 5% 7% 3% 5% 5%
Other Income 2 1 2 1 2 1 3 2 -0 0 0 0
Interest 4 5 5 6 9 10 9 8 8 6 7 8
Depreciation 4 5 5 6 6 8 8 10 11 9 11 11
Profit before tax 20 18 25 27 24 36 48 35 37 2 72 82
Tax % 30% 27% 33% 35% 32% 34% 11% 26% 26% 26% 27% 25%
Net Profit 14 13 16 18 17 24 43 26 28 2 52 62
EPS in Rs 2.49 2.25 2.90 3.12 2.92 4.17 7.60 4.54 4.76 0.28 9.04 10.53

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
572 767 1,094 1,201 1,389 2,457 2,842 2,984 4,400 5,196
567 746 1,067 1,169 1,331 2,365 2,729 2,848 4,172 4,933
Operating Profit 5 21 26 32 59 92 113 136 228 263
OPM % 1% 3% 2% 3% 4% 4% 4% 5% 5% 5%
Other Income 1 0 8 2 13 1 4 6 5 1
Interest 11 11 11 10 13 16 13 26 39 28
Depreciation 5 5 5 7 8 11 15 22 37 42
Profit before tax -9 5 18 17 51 66 88 94 157 193
Tax % 16% 30% 19% 24% 16% 28% 31% 32% 23%
Net Profit -7 5 14 12 43 48 61 63 120 143
EPS in Rs -4.52 3.21 8.72 7.65 27.46 8.66 10.76 11.19 20.81 24.61
Dividend Payout % 0% 6% 2% 3% 9% 14% 4% 4% 4%
Compounded Sales Growth
10 Years:%
5 Years:30%
3 Years:21%
TTM:18%
Compounded Profit Growth
10 Years:%
5 Years:59%
3 Years:36%
TTM:31%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:74%
1 Year:390%
Return on Equity
10 Years:%
5 Years:25%
3 Years:23%
Last Year:26%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
3 3 3 3 3 11 11 11 12 12
Reserves 52 57 69 80 118 186 304 367 530 584
Borrowings 119 94 94 82 80 43 45 141 87 89
99 123 126 159 217 549 606 971 1,069 1,595
Total Liabilities 274 277 291 324 417 789 966 1,491 1,697 2,280
79 80 84 97 124 137 179 241 414 409
CWIP 4 5 0 0 0 2 16 19 10 20
Investments 4 7 6 6 0 0 11 8 0 10
186 185 201 221 294 650 759 1,224 1,273 1,840
Total Assets 274 277 291 324 417 789 966 1,491 1,697 2,280

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
4 45 10 44 42 53 68 -3 237
-4 -9 1 -22 -22 -43 -100 -64 -99
1 -37 -13 -22 -20 -8 42 69 -57
Net Cash Flow 0 -0 -1 -0 1 1 10 2 81

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 11% 19% 16% 30% 37% 34% 27% 34%
Debtor Days 36 20 15 17 23 42 38 63 43
Inventory Turnover 8.21 11.02 10.58 9.79 10.47 8.35 7.19 8.57

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
38.93 38.93 38.93 38.93 38.93 38.92 38.89 37.92 36.17 36.11 36.01 35.06
8.92 16.08 13.12 7.00 6.04 7.23 7.67 10.85 10.76 12.27 16.21 20.31
23.24 16.94 19.07 23.50 23.76 22.38 22.09 20.73 22.95 21.94 17.55 15.23
28.91 28.06 28.88 30.57 31.27 31.47 31.35 30.50 30.12 29.68 30.23 29.40

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