Hold Dixon Technologies (India), target price Rs 3770: Sharekhan by BNP Paribas

Sharekhan by BNP Paribas has hold call on Dixon Technologies (India) with a target price of Rs 3770. The current market price of Dixon Technologies (India) is Rs 2672.55.

Dixon Technologies (India), incorporated in the year 1993, is a Mid Cap company (having a market cap of Rs 15768.55 Crore) operating in Consumer Durables sector.

Dixon Technologies (India) key Products/Revenue Segments include Domestic Appliances, Job Work, Other Operating Revenue, Service Charges, Rent and Export Incentives for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 2407.54 Crore, down -37.75 % from last quarter Total Income of Rs 3867.32 Crore and down -21.68 % from last year same quarter Total Income of Rs 3073.92 Crore. Company has reported net profit after tax of Rs 51.20 Crore in latest quarter.

The company’s top management includes Mr.Sunil Vachani, Mr.Atul B Lall, Mr.Keng Tsung Kuo, Mrs.Poornima Shenoy, Dr.Manuji Zarabi, Mr.Manoj Maheshwari, Dr.Rakesh Mohan. Company has S N Dhawan & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 6 Crore shares outstanding.

Investment Rationale
The brokerage has revised its estimates for FY2023-25E following weak results and a cut in revenue guidance, leading to lower earnings estimates.

Promoter/FII Holdings
Promoters held 34.06 per cent stake in the company as of 31-Dec-2022, while FIIs owned 16.66 per cent, DIIs 18.92 per cent.