About Dixon -
Dixon is the largest home grown design focused & solutions company engaged in manufacturing products in the consumer durables lighting and mobile phones markets in India. Dixon was founded 1993 by Mr Sunil Vachani.
Dixon is the largest home grown design focused & solutions company engaged in manufacturing products in the consumer durables lighting and mobile phones markets in India. Dixon was founded 1993 by Mr Sunil Vachani.
Financial Summary -
Q3 FY22 (YoY)
Rev were at Rs 2074cr⬆️41%
Pat at Rs 46cr⬇️25%
Eps at Rs 7.7⬇️26%
Q3 FY22 (YoY)
Rev were at Rs 2074cr⬆️41%
Pat at Rs 46cr⬇️25%
Eps at Rs 7.7⬇️26%
Exiting Plant Locations -
▪️ Noida - HO, R&D for CTVs & Lighting.
▪️ Dehradun Factory -
Unit 1 - Lighting
Unit 2 - Washing Machine
Unit 3 - Washing Machine
Unit 4 - Washing Machine
▪️ Noida Factory -
Unit 1 - AC-PCB & lighting
Unit 2 - Lighting
▪️ Noida - HO, R&D for CTVs & Lighting.
▪️ Dehradun Factory -
Unit 1 - Lighting
Unit 2 - Washing Machine
Unit 3 - Washing Machine
Unit 4 - Washing Machine
▪️ Noida Factory -
Unit 1 - AC-PCB & lighting
Unit 2 - Lighting
Unit 3 - Lighting
Unit 4 - Mobile Phones & Reverse Logistics
Unit 5 - Mobile Phones
Unit 6 - Mobile Phones
▪️ Tirupati Factory - LED TVs CCTV/DVR
Unit 4 - Mobile Phones & Reverse Logistics
Unit 5 - Mobile Phones
Unit 6 - Mobile Phones
▪️ Tirupati Factory - LED TVs CCTV/DVR
Strong Tailwinds -
▪️ Deep capabilities in semiconductors, polymer & metals processing, thermal management, box building, etc.
▪️ Dixon is the largest Indian player with broadest product and customer experience and highly successful track-record.
▪️ Deep capabilities in semiconductors, polymer & metals processing, thermal management, box building, etc.
▪️ Dixon is the largest Indian player with broadest product and customer experience and highly successful track-record.
▪️ Cost structures of OEMs are prohibitively expensive.
▪️ Strong government push for ‘Make in India’ in broader Electronics and Mobile category.
▪️ Policy measures to make imports unattractive and incentivizing domestic production.
▪️ Strong government push for ‘Make in India’ in broader Electronics and Mobile category.
▪️ Policy measures to make imports unattractive and incentivizing domestic production.
Value Proposition -
Co's focus on value proposition has led to dominant share of business from reputed customers.
▪️ Quality & Integration - Co goes through high level quality adherence & frequent quality audits. The co never posed an “own brand” risk to customers.
Co's focus on value proposition has led to dominant share of business from reputed customers.
▪️ Quality & Integration - Co goes through high level quality adherence & frequent quality audits. The co never posed an “own brand” risk to customers.
▪️ Scale - Co able to pass on the benefit of economics of scale to customers.
Co has efficient and nimble supply chain to respond to demand fluctuations.
Cost leadership with integrated manufacturing set-up & global sourcing capabilities.
Co has efficient and nimble supply chain to respond to demand fluctuations.
Cost leadership with integrated manufacturing set-up & global sourcing capabilities.
▪️ Continuous Innovation - Co has a strong R&D team with proven expertise in developing own designs.
▪️ Cost Effective Solution - Co gas frugal, flexible & fungible. They have manufacturing base In-house capabilities for polymers, plastics, sheet metal, surface mount etc.
▪️ Cost Effective Solution - Co gas frugal, flexible & fungible. They have manufacturing base In-house capabilities for polymers, plastics, sheet metal, surface mount etc.
Segmental Overview -
▪️ LED TV :
~ End to end solution including Auto Insertion, SMT,
LCM Module Assembly.
~ Backward integration into LED panel assembly with
clean room.
▪️ LED TV :
~ End to end solution including Auto Insertion, SMT,
LCM Module Assembly.
~ Backward integration into LED panel assembly with
clean room.
~ Product portfolios – 19 to 65 inches, ATV, 2K, 4K UHD, Smart, Semi-smart, Android certified, Linux based TV with AIOT platform & voice control features.
Key Customers : Xiaomi, Samsung, Panasonic, Philips, Hisense, Nokia, Flipkart, Lloyd, VU, Reliance, TCL, Toshiba, BPL.
Key Customers : Xiaomi, Samsung, Panasonic, Philips, Hisense, Nokia, Flipkart, Lloyd, VU, Reliance, TCL, Toshiba, BPL.
▪️ LIGHTING PRODUCTS :
~ India’s most respected manufacturer having largest
assembly capacity in lighting industry.
~ Backward Integration include Sheet metal, Plastic
Moulding & Wound components.
~ Product portfolios – LED Lights, Ballast, Tube lights,
Battens, Downlighters.
~ India’s most respected manufacturer having largest
assembly capacity in lighting industry.
~ Backward Integration include Sheet metal, Plastic
Moulding & Wound components.
~ Product portfolios – LED Lights, Ballast, Tube lights,
Battens, Downlighters.
Key Customers : Philips, Panasonic, Wipro, Bajaj, Luker, Luminous, Crompton, C&S, Orient, Polycab, Syska, Havells, Usha.
▪️ HOME APPLIANCE :
~ Semi Automatic Washing Machine : Largest product portfolio of 140 Models ranging from 6 kg -10 kg.
▪️ HOME APPLIANCE :
~ Semi Automatic Washing Machine : Largest product portfolio of 140 Models ranging from 6 kg -10 kg.
~ Leveraging strong R&D capabilities to design and
produce technologically advanced washing machine.
~ Backward Integration : Plastic Moulding. Bought out
components include Motors, Clutch assembly & PCBA.
Key Customers : Panasonic, Samsung, Godrej, Bosch, Weston, Haier, Intex.
produce technologically advanced washing machine.
~ Backward Integration : Plastic Moulding. Bought out
components include Motors, Clutch assembly & PCBA.
Key Customers : Panasonic, Samsung, Godrej, Bosch, Weston, Haier, Intex.
▪️ MOBILE PHONES :
~ Strong Manufacturing & Quality team with in-house developed MES.
~ Rich experience of working with global brands like Samsung, Panasonic, LG & Gionee apart from domestic brands like Micromax, Intex.
~ Strong Manufacturing & Quality team with in-house developed MES.
~ Rich experience of working with global brands like Samsung, Panasonic, LG & Gionee apart from domestic brands like Micromax, Intex.
~ Recently, got approval under PLI scheme on mobile phones. The government plans to provide incentives up to Rs 41,000 crs over the next 5yrs period.
~ Closed an agreement with Motorola & Nokia under mobile PLI Scheme.
Key Customers : Motorola, Samsung, LG, Nokia, Gionee.
~ Closed an agreement with Motorola & Nokia under mobile PLI Scheme.
Key Customers : Motorola, Samsung, LG, Nokia, Gionee.
▪️ SET TOP BOX :
~ Started manufacturing Set Top Boxes for Jio (Hybrid & Cable) & Dish TV.
~ Set Top boxes as a new line of business will start contributing significant portion to the company revenues.
Key Customers : Hathway, Den & Dish TV.
~ Started manufacturing Set Top Boxes for Jio (Hybrid & Cable) & Dish TV.
~ Set Top boxes as a new line of business will start contributing significant portion to the company revenues.
Key Customers : Hathway, Den & Dish TV.
▪️ SECURITY SYSTEMS :
~ Dixon AIL: 50-50 joint venture between Dixon & Aditya Infotech Limited to manufacture security surveillance equipments.
~ The JV partner holds trademark for CP Plus &
Dahua brands.
~ Dixon AIL: 50-50 joint venture between Dixon & Aditya Infotech Limited to manufacture security surveillance equipments.
~ The JV partner holds trademark for CP Plus &
Dahua brands.
▪️ REVERSE LOGISTICS :
~ This vertical offers repair services of LED TV, mobiles & Set-top box.
~ Refurbishment for LED TV, mobile, modems, set-top
box & computer peripherals.
~ This vertical offers repair services of LED TV, mobiles & Set-top box.
~ Refurbishment for LED TV, mobile, modems, set-top
box & computer peripherals.
~ One of the leading company who offer LED TVs
refurbishment.
Key Customers : Panasonic, Xiaomi, Airtel, Dish TV, Mitashi.
refurbishment.
Key Customers : Panasonic, Xiaomi, Airtel, Dish TV, Mitashi.
▪️ MEDICAL ELECTRONICS :
~ MOU already signed with Molbio for manufacturing of Quattro Real Time Quantitative micro PCR Analyzer machines.
~ These portable machines are capable of performing 190-200 tests per day of critical infectious
diseases including COVID-19.
~ MOU already signed with Molbio for manufacturing of Quattro Real Time Quantitative micro PCR Analyzer machines.
~ These portable machines are capable of performing 190-200 tests per day of critical infectious
diseases including COVID-19.
PIL revenue for new products : The company expects following revenue estimates under PLI scheme.
- IT Hardware & laptops : Rs 800- 1000cr
- Telecom : Rs 2000cr
- A/C PCBs : Rs 400cr
- Refrigerator : Rs 500cr
Key Risks :
~ Shortage of chips supply from importing countries.
- IT Hardware & laptops : Rs 800- 1000cr
- Telecom : Rs 2000cr
- A/C PCBs : Rs 400cr
- Refrigerator : Rs 500cr
Key Risks :
~ Shortage of chips supply from importing countries.
~ Business is exposed to rapid changes in technologies.
~ Delay in the commissioning of its capex project, slowdown in consumer discretionary spends, and.
Conclusion : Dixon’s sustainable returns-centric scale ambition reinforces confidence with regard to opportunity basket*
~ Delay in the commissioning of its capex project, slowdown in consumer discretionary spends, and.
Conclusion : Dixon’s sustainable returns-centric scale ambition reinforces confidence with regard to opportunity basket*
*Automation, migration to ODM (especially mobile phone), and a downstream component ecosystem are critical to its long-term revenue and competitive edge.
Please 🙏 like 👍 comment & retweet♻️if you find this useful @caniravkaria @subhfin @drprashantmish6 @jbotlagunta @DhanValue
Please 🙏 like 👍 comment & retweet♻️if you find this useful @caniravkaria @subhfin @drprashantmish6 @jbotlagunta @DhanValue
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