BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
Winning a production linked incentive (PLI) has Dixon Technologies India Ltd. well placed to capture the mobile local manufacturing opportunities.
It is expected to see an eight-fold jump in its mobile revenues (at the cap revenue for incentives) in FY22.
At a 3% Ebitda margin, the expected revenues from PLI should catapult its earning per share to Rs 236 from Rs 165, while FY23 is expected to see an earning per share of Rs 297.
We had downgraded the stock in Q1 purely on valuations based on our earlier numbers devoid of PLI.
We incorporate the PLI numbers in our estimates, which gives it an earnings compound annual growth rate of 23% over FY20-23E
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