Q4FY21 Result Update - Dixon Technologies (India) - ICICI Direct

Dixon witnessed strong revenue, PAT growth of 47%, 33%, respectively, in FY21 despite loss of sales in Q1. The strong growth came on the back of customer additions in consumer electronics and mobile & EMS segments in FY21. The company has outlined a capex of Rs. 200 crore in FY22 for a brownfield expansion in TVs, washing machines, mobile phones and to start a new manufacturing unit for direct cool refrigerators. Dixon has also applied for PLI schemes in electronics/technology products, telecom products and LED lights & AC component manufacturing. The approval for all applications are expected within H2FY22. Entry into new product categories and customer additions into existing product categories (especially in washing machines, LED lights & mobile phones) would help drive revenue at a CAGR of 63% in FY21-23E. The company's balance sheet remains strong with stringent working capital policy (with cash conversion cycle of seven days) with RoE, RoCE at ~22%, 24% in FY21, respectively.

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Shares of Dixon Technologies (India) Ltd was last trading in BSE at Rs.4029.75 as compared to the previous close of Rs. 3995.7. The total number of shares traded during the day was 8800 in over 2084 trades.

The stock hit an intraday high of Rs. 4048.05 and intraday low of 3952.4. The net turnover during the day was Rs. 35273918.

Source : Equity Bulls

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