“Approval for Disbursement of PLI Incentives“

Padget Electronics Private Limited, known as “Padget Electronics” (a wholly owned subsidiary of Dixon Technologies (India) Limited) has received approval for disbursement of INR 53.28 Cr from the Empowered Committee of MEITY (GOI), under the Production Linked Incentive (PLI) Scheme for manufacturing of Mobile Phones (Domestic Companies)

• Earlier, Padget Electronics (one of the 16 companies Domestic and International) received approval under the PLI scheme of the Government of India (GOI) for the manufacturing of mobile phones.
• With this, Padget Electronics becomes the first company out of 16 approved companies to receive this coveted approval.

Also Read: Harsha Engineers IPO

Vice Chairman & MD Speech –

Commenting on this, Mr. Atul B. Lall said, “PLI Schemes are the cornerstone for government’s push for accomplishing the vision of an ‘Atmanirbhar Bharat’ and making domestic manufacturing globally competitive.

Such flagship schemes help in creating domestic champions, encourage more investments, and help in making India a competitive destination for electronics manufacturing.

It is a proud moment that a wholly owned subsidiary of Dixon is, by far, the first entity to receive disbursement approval from the Government of India under the PLI scheme. It is indeed a huge recognition and we, at Dixon, are committed to making more investments, creating a component ecosystem & continue to migrate more to design-led manufacturing.”

dixon technologies share price closed at INR 4598 (UP 2.23%) on the National Stock Exchange when the market closed with a volume of 6,99,128 shares.

Dixon Technologies (India) Limited is currently trading 26% below when compared to its 52-week high of INR 6244.

Also Read: Value Pick Stock September 2022 “Can Fin Homes Limited”

01 September 2017

Dixon Technologies – the largest Indian home grown design-focused and solutions company and leading Original Design Manufacturer (ODM) of lighting products, LED TVs and semi-automatic washing machines is planning to raise INR 599.28 crore via initial public offer (IPO).

Dixon Technologies (India) Limited – Company Profile

Incorporated in the year 1993, Dixon Technologies Limited is engaged in manufacturing products in the consumer durables, lighting, and mobile phones markets.

Working Area

• Company’s product portfolio include; (1) Consumer electronics like LED TVs, (2) Home appliances like washing machines, (3) Lighting products like LED bulb, CFL bulbs, tube lights, and (4) Mobile phones
• Company also provide repair and refurbishment services for set top boxes, mobile phones and LED TV panels
• The company is a leading manufacturer of lighting products of CFL, LED bulbs, LED TVs and semi-automatic washing machines in India.
• Dixon is also a leading Original Design Manufacturer (ODM) in India. The company develops and design products in-house at its R&D facility.
• Dixon manufacture products for popular retail brands including Dish, Gionee, Haier, Intex Technologies, Mitashi, Panasonic, Philips, Reliance Retail and Surya Roshni.

Manufacturing Facilities

The company has 6 manufacturing facilities located in the states of Uttar Pradesh and Uttarakhand. The company has over 629 permanent employees and 4,030 contractors.

Company Promoter

Sunil Vachani

IPO Opening / Closing Dates & Listing

IPO Details – Issue Price, Minimum Bid and Other

Financial Performance

Revenues

The Company shows steady revenue growth in recent years. Topline has been increasing regularly for the last five years and jumped from INR 569.39 crore in FY 2012 to INR 1224.21 crore for the period ended December 2016.

Profits

Though the company has shown steady growth in revenue, the company fails to register steady profit growth in those five years. Starting from INR 5.97 crore of LOSS in FY2012, the company’s earnings improved to INR 37.15 crore in FY2016.

CONCLUSION –

Considering company’s valuation and financial parameters, FinBlab recommends SUBSCRIBE ratings on Dixon Technologies (India) Limited – IPO.

Disclaimer: The contents and data presented here are just for your information & personal use only. While much effort is made to provide the information, I ( Vishal Dalwadi ) or “Fin Blab” do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.

The post Dixon Technologies (India) Limited – Update appeared first on Upcoming ipos: Latest news on stocks, economy & finance.