Is Dixon Technologies (India) a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Dixon Technologies (India) Ltd is a good quality company .

Is Dixon Technologies (India) undervalued or overvalued?

The key valuation ratios of Dixon Technologies (India) Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone .

What is Dixon Technologies (India) share price return in the past 10 years?

Data is not available for this company

Is Dixon Technologies (India) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Dixon Technologies (India) Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

What is the P/E ratio of Dixon Technologies (India)?

The latest standalone P/E ratio of Dixon Technologies (India) as of 22-Nov-2024 is 247.96.

What is the P/B ratio of Dixon Technologies (India)?

The latest standalone P/B ratio of Dixon Technologies (India) as of 22-Nov-2024 is 53.68.

Dixon Technologies (India) Ltd - Stock Valuation and Financial Performance

Name: Dixon Technologies (India)
Brand: Dixon Technologies (India)

BSE: 540699 | NSE: DIXON | Consumer Durables - Electronics | Mid Cap

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Dixon Technologies Share Price

₹15,345.75 348.65 2.32%
as on 22-Nov'24 16:59

10 Year X-Ray of Dixon Technologies:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	11.8%	20.4%	36.6%	32.7%	25.9%	33.3%	33.3%	23.6%	26.9%	21.2%	-
Value Creation Index ⓘ	0.1	0.8	2.3	1.3	0.9	1.4	2.0	1.1	1.0	0.9	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	1,115	1,252	1,645	2,210	2,526	3,672	5,675	7,484	6,997	6,411	6,115
Sales YoY Gr.	-	12.3%	31.4%	34.4%	14.3%	45.4%	54.6%	31.9%	-6.5%	-8.4%	-
Adj EPS ⓘ	2.5	6.5	8.1	10	9.8	19.3	26.1	25.4	36.2	31.2	60.6
YoY Gr.	-	156.3%	24.7%	22.8%	-2.1%	97.9%	35%	-2.7%	42.7%	-13.8%	-
BVPS (₹) ⓘ	25.5	30.1	34.6	53.7	63.1	88.1	118.5	153.6	193	230.1	279.9
Adj Net Profit ⓘ	9.2	23.5	44.6	56.5	55.3	112	153	150	216	187	365
Cash Flow from Ops. ⓘ	41.1	26.6	46.1	61.4	-11.8	238	158	214	404	239	-
Debt/CF from Ops. ⓘ	1.5	2.6	1	0.7	-11.7	0.3	0.8	1.2	0.2	0.4	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	21.5%	20.5%	4.2%	-8.4%
Adj EPS ⓘ	32.2%	26.2%	6.2%	-13.8%
BVPSⓘ	27.7%	29.5%	24.8%	19.2%
Share Price	-	89.1%	44.4%	187.4%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	10.5	23.4	29.9	22.9	16.7	25.6	25.1	18.5	20.7	14.6	23.8
Op. Profit Mgn % ⓘ	2	3.3	5.2	4.8	5	5.6	4.8	3.8	5.3	5	4.6
Net Profit Mgn % ⓘ	0.8	1.9	2.7	2.6	2.2	3	2.7	2	3.1	2.9	6
Debt to Equity ⓘ	0.7	0.6	0.3	0.2	0.4	0.2	0.2	0.3	0.1	0.1	0
Working Cap Days ⓘ	60	57	61	65	92	87	87	86	91	102	41
Cash Conv. Cycle ⓘ	13	8	8	13	19	10	4	5	5	8	2

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 23.80%

Sales growth has been subdued in last 3 years 4.15%

Net Profit has been subdued in last 3 years 6.18%

Sales growth is not so good in last 4 quarters at -10.20%

Latest Financials - Dixon Technologies (India) Ltd.

	Standalone	Consolidated
TTM EPS (₹)	60.6	118.6
TTM Sales (₹ Cr.)	6,115	27,590
BVPS (₹.) ⓘ	279.9	369.6
Reserves (₹ Cr.) ⓘ	1,676	2,217
P/BV ⓘ	53.68	40.64
PE ⓘ	247.96	126.66

From the Market
52 Week Low / High (₹)	5264.10 / 15999.95
All Time Low / High (₹)	366.18 / 15999.95
Market Cap (₹ Cr.)	90,581
Equity (₹ Cr.)	12.1
Face Value (₹)	2
Industry PE ⓘ	140.9

Management X-Ray of Dixon Technologies:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

0.59

1.13

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Dixon Technologies

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Price to Earnings

Enterprise Value to EBIT

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Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Dixon Technologies

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	1,115	1,252	1,645	2,210	2,526	3,671	5,675	7,484	6,997	6,411
Operating Expenses ⓘ	1,093	1,213	1,560	2,104	2,400	3,468	5,401	7,201	6,634	6,094
Manufacturing Costs	19	25	78	86	94	130	153	183	183	162
Material Costs	1,023	1,112	1,393	1,895	2,178	3,181	5,062	6,783	6,179	5,661
Employee Cost	32	49	59	69	79	109	125	162	184	188
Other Costs ⓘ	19	27	30	53	49	48	61	72	88	83
Operating Profit ⓘ	22	39	85	106	126	204	273	284	364	317
Operating Profit Margin (%)	2.0%	3.1%	5.1%	4.8%	5.0%	5.5%	4.8%	3.8%	5.2%	4.9%
Other Income ⓘ	2	2	1	3	4	9	2	3	18	37
Interest ⓘ	6	7	15	13	26	39	31	35	39	44
Depreciation ⓘ	5	6	10	14	20	32	38	51	58	64
Exceptional Items ⓘ	0	-1	0	0	0	0	0	0	0	0
Profit Before Tax ⓘ	13	27	61	82	84	142	206	200	285	247
Tax ⓘ	4	5	17	25	28	32	54	49	74	61
Profit After Tax	9	21	44	57	56	111	152	151	211	186
PAT Margin (%)	0.8%	1.7%	2.7%	2.6%	2.2%	3.0%	2.7%	2.0%	3.0%	2.9%
Adjusted EPS (₹)	2.5	5.9	8.0	10.1	10.0	19.1	26.0	25.4	35.5	31.1
Dividend Payout Ratio (%)	3%	18%	15%	4%	4%	4%	4%	8%	8%	16%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	92	109	190	304	357	510	694	911	1,150	1,376
Share Capital ⓘ	3	3	11	11	11	12	12	12	12	12
Reserves ⓘ	89	106	179	292	346	498	682	899	1,138	1,364
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	63	68	43	41	135	73	128	220	70	89
Long Term Debt	39	51	10	8	5	10	56	175	59	44
Short Term Debt	24	17	33	33	130	63	71	45	10	45
Trade Payables	107	123	227	236	548	714	1,424	1,323	1,205	1,077
Others Liabilities ⓘ	18	24	38	88	64	125	174	271	308	292
Total Liabilities ⓘ	280	323	498	668	1,103	1,421	2,419	2,726	2,732	2,834
Fixed Assets
Gross Block	108	122	139	193	252	423	492	747	930	1,083
Accumulated Depreciation	32	36	10	24	44	70	106	135	186	256
Net Fixed Assetsⓘ	76	86	129	169	208	353	386	613	744	827
CWIP ⓘ	0	0	2	16	19	10	72	19	52	34
Investmentsⓘ	9	25	9	13	18	45	140	227	138	124
Inventories	99	89	157	232	297	364	555	656	433	390
Trade Receivables	46	69	134	129	439	429	1,003	846	931	907
Cash Equivalents	4	3	6	36	28	98	41	116	49	22
Others Assetsⓘ	46	50	62	73	95	123	222	249	385	529
Total Assets ⓘ	280	323	498	668	1,103	1,421	2,419	2,726	2,732	2,834

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	41	27	46	61	-12	238	158	214	404	239
PBT ⓘ	13	27	61	82	84	142	206	200	285	247
Adjustment ⓘ	12	2	25	26	47	73	74	82	92	78
Changes in Working Capital ⓘ	18	5	-27	-29	-127	61	-70	-20	92	-16
Tax Paid ⓘ	-2	-7	-13	-18	-16	-39	-52	-48	-64	-70
Cash Flow From Investing Activity ⓘ	-12	-20	-39	-97	-54	-93	-266	-249	-283	-266
Capex	-13	-18	-36	-71	-60	-87	-113	-201	-135	-137
Net Investments	0	0	-1	-4	-5	-27	-95	-39	105	30
Others ⓘ	1	-2	-2	-22	11	21	-58	-9	-253	-159
Cash Flow From Financing Activityⓘ	-29	-7	-7	42	67	-61	51	110	-189	2
Net Proceeds from Shares ⓘ	0	0	6	57	0	46	27	64	34	47
Net Proceeds from Borrowing ⓘ	0	0	-5	-2	-4	4	46	141	-128	-13
Interest Paid ⓘ	-6	-7	-12	-13	-24	-35	-30	-37	-27	-31
Dividend Paid ⓘ	-1	-4	-8	0	-2	-7	0	-6	-12	-18
Others ⓘ	-22	5	12	-1	97	-69	8	-53	-55	17
Net Cash Flow ⓘ	0	0	0	7	1	84	-57	75	-67	-24

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	10.49	21.35	29.29	23.1	17.05	25.5	25.25	18.81	20.49	14.7
ROCE (%)	11.77	20.36	36.61	32.65	25.9	33.27	33.32	23.55	26.86	21.15
Asset Turnover Ratio	4.17	4.22	4.07	3.8	2.85	2.91	2.96	2.92	2.57	2.31
PAT to CFO Conversion(x)	4.56	1.29	1.05	1.07	-0.21	2.14	1.04	1.42	1.91	1.28
Working Capital Days
Receivable Days	14	17	22	22	41	43	46	45	46	52
Inventory Days	30	27	27	32	38	33	30	29	28	23
Payable Days	33	38	46	45	66	72	77	74	75	74

Dixon Technologies (India) Ltd Stock News

Dixon Technologies (India) Ltd FAQs

What is the share price of Dixon Technologies?

Company share prices are keep on changing according to the market conditions. The closing price of Dixon Technologies on 22-Nov-2024 16:59 is ₹15,345.8.

What is the market cap of Dixon Technologies?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 22-Nov-2024 16:59 the market cap of Dixon Technologies stood at ₹90,581.

What is the P/E ratio of Dixon Technologies?

The latest P/E ratio of Dixon Technologies as of 22-Nov-2024 16:59 is 248.0.

What is the P/B ratio of Dixon Technologies?

The latest P/B ratio of Dixon Technologies as of 22-Nov-2024 16:59 is 53.68.

What is the 52-week high and low of Dixon Technologies?

The 52-week high of Dixon Technologies is ₹16,000 and the 52-week low is ₹5,264.1.

What is the TTM revenue of Dixon Technologies?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Dixon Technologies is ₹6,115 ( Cr.) .

About Dixon Technologies (India) Ltd

Dixon Technologies (India) was incorporated in 1993 and, in 1994, it commenced manufacturing of consumer electronics such as colour televisions. In 2007, the company commenced manufacturing of LCD TVs and subsequently progressed into manufacturing of LED TVs in 2010. It entered the lighting products segment in 2008 with the manufacturing of CFL products and gradually increased its product portfolio to LED products in 2016. In 2010, the company started manufacturing semi-automatic washing machines. It also started providing reverse logistics services in 2008. The most recent segment that it has entered into is the manufacturing of mobile phones through a JV. The company has continuously diversified its product portfolio to keep pace with changing consumer trends and development in technology.

The company is the largest home-grown design-focused and solutions company engaged in manufacturing products in the consumer durables, lighting and mobile phones markets in India. Its diversified product portfolio includes (i) consumer electronics like LED TVs; (ii) home appliances like washing machines; (iii) lighting products like LED bulbs and tubelights, downlighters and CFL bulbs; and (iv) mobile phones. It also provides solutions in reverse logistics i.e. repair and refurbishment services of set top boxes, mobile phones and LED TV panels. The company’s key customers include Panasonic India Private, Philips Lighting India, Haier Appliance (I), Gionee, Surya Roshni, Reliance Retail, Intex Technologies (I) Ltd., Mitashi Edutainment, Dish Infra Services.

Business area of the company

The company is fully integrated end-to-end product and solution suite to original equipment manufacturers (OEMs) ranging from global sourcing, manufacturing, quality testing and packaging to logistics. It is also a leading Original Design Manufacturer (ODM) of lighting products, LED TVs and semi-automatic washing machines in India. As an ODM, it develops and designs products in-house at its R&D centre. It manufactures and supplies these products to well-known companies in India who in turn distribute these products under their own brands.

Awards and accreditations

2007: ISO 14001:2004 by United Registrar of Systems for compliance by the company with environmental management system in the manufacture and supply of DVD, LCD/LED TV, FIM/LCM, Induction Cooker, CFL Lamp, LED Lamp, Ballast and Circuit Assembly at the Dehradun I Facility.
2009: ISO 14001:2004 by United Registrar of Systems for compliance by the company with environmental management system in the manufacture and supply of PCB assembly for consumer and industrial electronics products and lighting products at the Noida I Facility.
2009: ISO 9001:2008 by United Registrar of Systems for compliance by the company with quality management system in the manufacture and supply of CFL (Compact Fluorescent Lamp), STB (Set Top Box) and its Refurbishment at the Noida III Facility.
2009 ISO 14001:2004 by United Registrar of Systems for compliance by the company with environmental management system in the manufacture and supply of CFL (Compact Fluorescent Lamp), STB (Set Top Box) and its Refurbishment at the Noida III Facility.
2009: ISO 9001:2008 by United Registrar of Systems for compliance by the company with quality management system in the manufacture and supply of DVD, LCD/LED TV, FIM/LCM, Induction Cooker, CFL Lamp, LED Lamp, Ballast and Circuit Assembly at the Dehradun I Facility.
2010: ISO 9001:2008 by United Registrar of Systems for compliance by the company with quality management system in the manufacture and supply of PCB assembly for consumer and industrial electronics products and lighting products at the Noida I Facility.
2010: ISO 9001:2008 by United Registrar of Systems for compliance by DAPL with quality management system in the manufacture and supply of washing machines at the Dehradun II Facility.
2011: ISO 9001:2008 by United Registrar of Systems for compliance by DBMPL with quality management system in the manufacture and supply of moulding items for washing machines, CTVs and DVDs at the Dehradun III Facility.
2011: ‘Best OEM Award 2011’ awarded to the company by CEAMA.
2016: ISO 9001:2008 by United Registrar of Systems for compliance by PEPL with quality management system in the manufacture of mobile phones at the Noida II Facility.
2016: ISO 14001: 2004 by United Registrar of Systems for compliance by PEPL with environmental management system in the manufacture of mobile phones at the Noida II Facility.
2016: Development Excellence Award (Semi-Automatic Washing Machine) awarded by Panasonic India Private Limited to DAPL.
2017: ISO 14001:2015 by United Registrar of Systems for compliance with environmental management system in the manufacture and supply of washing machines at the Dehradun II Facility.
2017: The Company got registered with Department of scientific & Industry Research (DSIR) on 14th August, 2017.
2017: The trademark “Dixon” got registered with the Trade Mark registry on 6th October, 2017 under class 37.
2018: The trademark “Dixon” got registered with the Trade Mark registry on 21st February, 2018 under class 9.
2018: The Company received a certificate dated 28th February, 2018 from IESA VISION SUMMIT for the stellar success of IPO.
2018: The Company received an award dated 11th April, 2018 from PHILIPS LIGHTING at Go for Growth Supplier Event India 2018. The award is for “Recognized for: Greater Together”.
2019: Dixon given certificate of appreciation by Delhi Langar Seva Society for the year 2018-19.
2020: Contract manufacturer of the year award - CNBC Awaaz CEO Award.

Key events, milestones and achievements

1994: Commencement of manufacture of colour televisions.
1996: Establishment of Noida I Facility.
2008: Entered the lighting products vertical with manufacture of CFL products.
2008: Private equity investment by IBEF and IBEF 1.
2008: Commencement of reverse logistics operations.
2010: Commencement of manufacturing of washing machines by its Subsidiary, DAPL.
2009 and 2010: Commencement of commercial manufacturing in the metal sheet and moulding segments by its Subsidiary, DBMPL.
2014: Achieved more than Rs 10,000 million of revenue from operations on a standalone basis.
2015: Acquisition of remaining shareholding of its erstwhile subsidiaries DAPL and DBMPL, pursuant to which they became its wholly owned subsidiaries.
2016: Commencement of manufacture of mobile phones through its joint venture, PEPL.
2016: Granted approval by the GoAP for setting up a manufacturing facility in Tirupati.
2017: Amalgamation of DAPL and DBMPL, its wholly owned subsidiaries, with and into the company.
2017: Entering into a joint venture agreement with Aditya Infotech Limited for the manufacture of security systems including CCTVs and DVRs, through its joint venture company, ADTPL.
2018: Commenced manufacturing of security systems including CCTV’s & Digital Video Recorders (DVR’s) from the company’s state of the art manufacturing facility at Tirupati through its Joint Venture AIL Dixon Technologies Private Limited.
2018: Commenced production of Liquid Crystal module (LCM) line at Tirupati facility in line with company’s strategy of backward integration which will be India’s largest facility for LED TV panel manufacturing.
2019: Padget Electronics Private Limited (PEPL) become a wholly owned subsidiary of Dixon Technologies (India) Limited w.e.f April 12, 2019.