Dixon Technologies Q1 Review - Healthy Topline Growth; FY23 Margin Guidance Of 4% Maintained: Nirmal Bang

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Nirmal Bang Report.Dixon Technologies India Ltd. reported consolidated revenue of Rs 28.5 billion, 15.1% below our estimates and nearly in line with consensus estimate. Gross margin was up 170 basis points YoY at 9.1%. Ebitda came in at Rs 1 billion, with Ebitda margin of 3.5%, below our/consensus estimate of 4.1%/3.7%. Dixon incurred a forex loss of Rs 120 million. Ex-forex loss, Ebitda margin would have come in at ~3.9%. Profit after tax at Rs 455 million was below our/consensus estimate by 39.8%/14.7% YoY. The growth outlook for the next few years remains robust, led by:ramping up mobile phone production linked incentive revenue booking,value and volume growth in LED TV business,international business opportunities in lighting,foray into new verticals (fully automatic top-load washing machines, refrigerators, wearables etc.) andfurther diversification prospects through PLI schemes (IT products like laptops and tablets, telecom equipment etc.). .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Dixon Technologies Q1 Review - Healthy Topline Growth; FY23 Margin Guidance Of 4% Maintained: Nirmal Bang

Dixon Technologies Q1 Review - Healthy Topline Growth; FY23 Margin Guidance Of 4% Maintained: Nirmal Bang

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