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Anand Rathi Report
While Q1 FY21 was hurt by the lockdown, Dixon Technologies India Ltd. continues to lead the government’s self-dependence measures to manufacture consumer durables.
It is well placed to benefit from the production link Incentives (PLI) scheme, for which submissions have been made. The recent notification putting television imports in the restricted category also augurs well for Dixon Technologies and supports customer additions.
Annual imports in product categories where Dixon Technologies operates are Rs 1.38 trillion (at an 11% compound annual growth rate over FY11–19) offers a diversified opportunity which can be addressed effectively by only a few manufacturers in India.
Expansion of Reliance Jio can further increase Dixon Technologiess addressable set-top boxes and be another Rs 10 billion opportunity waiting to unfold in coming years.
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