Dixon Technologies Annual Report Analysis - Transforming Into A 'Make-in-India' Story: Nirmal Bang
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Nirmal Bang Report
Our analysis of Dixon Technologies India Ltd.’s FY21 annual report shows that the company is turning out to be a 'Make-in-India' play, with rising proportion of production linked incentive scheme-related revenue (~50% by FY24E).
Dixon Technologies continues to deliver on its strategic goals of increasing product offerings, acquiring more customers, enhancing backward integration and automation.
During the year, it has acquired large mobile phone customers (Nokia/Motorola) and ventured into manufacturing of set-top boxes and medical equipment.
It is also planning to include refrigerators/outdoor lighting/LED monitors in its product portfolio soon.
The company is excited about its prospects in sectors such as telecom and IT hardware/laptop, wearable devices and LED lights.
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