Dixon Technologies (India) Ltd

Dixon Technolog. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Dixon Technologies (India) Ltd

₹ 15,055 -1.50%
24 Oct - close price
dixoninfo.com BSE: 540699 NSE: DIXON
About

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]

Key Points

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]

Website BSE NSE
  • Market Cap ₹ 90,086 Cr.
  • Current Price ₹ 15,055
  • High / Low ₹ 15,600 / 5,076
  • Stock P/E 161
  • Book Value ₹ 372
  • Dividend Yield 0.03 %
  • ROCE 29.2 %
  • ROE 24.7 %
  • Face Value ₹ 2.00
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Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 42.3% CAGR over last 5 years
  • Company's median sales growth is 15.7% of last 10 years

Cons

  • Stock is trading at 40.4 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
2,804 3,073 2,953 2,855 3,867 2,405 3,065 3,272 4,943 4,818 4,658 6,580 11,534
2,694 2,970 2,835 2,755 3,722 2,294 2,909 3,140 4,744 4,634 4,476 6,332 11,108
Operating Profit 110 103 118 100 145 111 156 132 199 184 182 248 426
OPM % 4% 3% 4% 4% 4% 5% 5% 4% 4% 4% 4% 4% 4%
1 1 2 0 1 4 3 6 3 4 19 16 206
Interest 9 12 14 14 16 15 15 14 17 22 21 29 38
Depreciation 22 28 19 24 29 29 32 34 36 41 51 55 66
Profit before tax 80 63 87 62 100 70 112 90 149 126 130 180 529
Tax % 22% 27% 27% 27% 23% 26% 28% 25% 24% 23% 25% 22% 22%
63 46 63 45 77 52 81 67 113 97 97 140 412
EPS in Rs 10.68 7.82 10.61 7.70 13.02 8.72 13.54 11.55 18.02 16.12 15.91 22.34 65.15
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
767 1,094 1,201 1,389 2,457 2,842 2,984 4,400 6,448 10,697 12,192 17,691 27,590
746 1,067 1,169 1,340 2,365 2,729 2,848 4,172 6,156 10,313 11,673 16,986 26,549
Operating Profit 21 26 32 49 92 113 136 228 292 384 519 705 1,041
OPM % 3% 2% 3% 4% 4% 4% 5% 5% 5% 4% 4% 4% 4%
0 8 2 23 1 4 6 5 1 4 4 32 246
Interest 11 11 10 13 16 13 26 39 33 49 64 81 111
Depreciation 5 5 7 8 11 15 22 37 44 84 115 162 212
Profit before tax 5 18 17 51 66 88 94 157 217 255 345 494 964
Tax % 30% 19% 24% 16% 28% 31% 32% 23% 26% 25% 26% 24%
3 14 13 43 48 61 63 120 160 190 255 375 746
EPS in Rs 3.21 8.72 7.65 27.46 8.66 10.76 11.19 20.81 27.28 32.05 42.90 61.47 119.52
Dividend Payout % 6% 2% 3% 9% 14% 4% 4% 4% 4% 6% 7% 8%
Compounded Sales Growth
10 Years: 32%
5 Years: 43%
3 Years: 40%
TTM: 102%
Compounded Profit Growth
10 Years: 39%
5 Years: 42%
3 Years: 32%
TTM: 83%
Stock Price CAGR
10 Years: %
5 Years: 90%
3 Years: 43%
1 Year: 182%
Return on Equity
10 Years: 24%
5 Years: 24%
3 Years: 23%
Last Year: 25%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 3 3 3 3 11 11 11 12 12 12 12 12 12
Reserves 58 71 82 120 186 304 367 530 726 985 1,273 1,683 2,217
94 94 82 80 43 45 141 87 295 667 453 489 794
121 124 157 215 549 606 971 1,069 1,814 2,613 2,941 4,806 13,098
Total Liabilities 277 291 324 417 789 966 1,491 1,697 2,846 4,277 4,679 6,990 16,121
80 84 97 124 137 179 241 414 550 1,003 1,244 1,996 2,465
CWIP 5 0 0 0 2 16 19 10 72 22 120 68 138
Investments 7 6 6 0 0 11 8 0 95 141 44 20 279
185 201 221 294 650 759 1,224 1,273 2,128 3,111 3,272 4,905 13,239
Total Assets 277 291 324 417 789 966 1,491 1,697 2,846 4,277 4,679 6,990 16,121

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
45 10 44 42 53 68 -3 237 170 273 726 584
-9 1 -22 -22 -43 -100 -64 -99 -265 -464 -356 -531
-37 -13 -22 -20 -8 42 69 -57 63 304 -330 -70
Net Cash Flow -0 -1 -0 1 1 10 2 81 -32 113 41 -17

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 20 15 17 23 42 38 63 43 62 46 51 48
Inventory Days 49 34 38 41 47 47 57 47 47 43 32 39
Days Payable 60 36 46 56 84 75 103 89 108 86 81 92
Cash Conversion Cycle 9 13 9 8 5 10 17 1 1 3 2 -6
Working Capital Days 24 22 16 15 11 12 28 15 14 9 -0 -1
ROCE % 10% 18% 16% 29% 37% 34% 27% 34% 30% 23% 24% 29%

Shareholding Pattern

Numbers in percentages

4 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
34.52% 34.30% 34.30% 34.27% 34.06% 34.05% 34.04% 33.80% 33.63% 33.44% 33.24% 32.89%
18.51% 16.39% 15.08% 16.27% 16.66% 12.04% 15.00% 15.66% 17.41% 17.85% 19.33% 22.69%
7.60% 7.98% 8.07% 18.59% 18.92% 23.76% 24.61% 27.44% 26.39% 27.01% 26.08% 23.14%
39.37% 41.33% 42.56% 30.87% 30.35% 30.13% 26.36% 23.11% 22.58% 21.71% 21.34% 21.27%
No. of Shareholders 3,24,0123,79,1603,91,2833,67,7733,47,7283,67,7273,15,6832,85,5662,67,5362,52,8432,67,3142,85,363

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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