Dixon Technologies (India) Ltd

Dixon Technologies (India) is primarily engaged in the manufacturing of electronics as its core business activity.(Source : 201903 Annual Report Page No: 122)

Pros:
Company is expected to give good quarter
Company has good consistent profit growth of 35.55% over 5 years
Cons:
Stock is trading at 7.55 times its book value

Peer Comparison Sector: Consumer Durables // Industry: Electronics - Consumer

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
738 676 612 685 879 680 598 593 739 794 859 1,147
710 651 593 664 844 652 570 567 706 755 821 1,094
Operating Profit 28 25 19 21 35 29 27 26 33 39 38 53
OPM % 4% 4% 3% 3% 4% 4% 5% 4% 4% 5% 4% 5%
Other Income -0 1 1 1 2 0 2 1 2 1 2 1
Interest 5 5 2 3 3 3 4 5 5 6 9 10
Depreciation 2 2 3 3 4 4 4 5 5 6 6 8
Profit before tax 21 19 14 16 30 22 20 18 25 27 24 36
Tax % 25% 34% 28% 32% 31% 32% 30% 27% 33% 35% 32% 34%
Net Profit 16 12 10 11 21 15 14 13 16 18 17 24
EPS in Rs 18.77 13.68 12.63 11.27 14.51 15.58 14.59 20.82
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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 TTM
572 767 1,094 1,201 1,389 2,457 2,842 2,984 3,539
567 746 1,067 1,169 1,331 2,365 2,729 2,848 3,376
Operating Profit 5 21 26 32 59 92 113 136 162
OPM % 1% 3% 2% 3% 4% 4% 4% 5% 5%
Other Income 1 0 8 2 13 1 4 6 5
Interest 11 11 11 10 13 16 13 26 30
Depreciation 5 5 5 7 8 11 15 22 25
Profit before tax -9 5 18 17 51 66 88 94 112
Tax % 16% 30% 19% 24% 16% 28% 31% 32%
Net Profit -7 5 14 12 43 48 61 63 74
EPS in Rs 53.78 55.94 65.50
Dividend Payout % -0% 6% 2% 3% 9% 14% 4% 4%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:22.23%
3 Years:29.03%
TTM:28.68%
Compounded Profit Growth
10 Years:%
5 Years:35.55%
3 Years:21.71%
TTM:18.12%
Return on Equity
10 Years:%
5 Years:23.24%
3 Years:22.58%
Last Year:18.19%

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
3 3 3 3 3 11 11 11
Reserves 52 57 69 80 118 186 304 367
Borrowings 119 94 94 82 80 43 45 141
103 125 127 161 221 562 620 981
Total Liabilities 277 279 292 326 421 802 979 1,500
79 80 84 97 124 137 179 241
CWIP 4 5 0 0 0 2 16 19
Investments 4 7 6 6 0 0 11 8
190 188 202 223 297 664 773 1,233
Total Assets 277 279 292 326 421 802 979 1,500

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
4 45 10 44 42 53 68 -3
-4 -9 1 -22 -22 -43 -100 -64
1 -37 -13 -22 -20 -8 42 69
Net Cash Flow 0 -0 -1 -0 1 1 10 2

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 11% 19% 16% 30% 37% 34% 27%
Debtor Days 36 20 15 17 23 42 38 63
Inventory Turnover 9.45 12.02 11.64 11.15 11.74 9.40 8.17