Share price of this mid-cap multibagger stock moved up by nearly 3.2 percent to Rs. 7,769.8 on BSE in the morning trading session of Monday, compared to its previous closing price of Rs. 7,532, after the company announced entering into an agreement for the manufacturing & sale of smartphones.
With a market capitalisation of Rs. 46,162.5 crores, at 11:13 a.m. the shares of Dixon Technologies (India) Limited were trading in the green at Rs. 7,721.7, up by 2.52 percent on NSE.
The company has delivered 167.4 percent of multibagger returns in the last one year and nearly 42.8 percent of positive returns in the last six months. So far in 2024, it has given positive returns of around 19.8 percent.
According to recent regulatory filings with the stock exchanges, Padget Electronics Private Limited, a wholly-owned subsidiary of Dixon Technologies, has entered into an agreement with Longcheer Mobile India Private Limited.
This agreement is for undertaking the manufacturing and sale of smartphones for large global brands with Longcheer’s design and technology and Padget Electronics.
Longcheer Mobile India Pvt. Ltd. provide integrated smart product services to global leading consumer electronics brands and tech enterprises across multiple countries and regions with global delivery capabilities and has about 28 percent share of ODM at the Global Level.
In terms of financials, the company’s revenue from operations grew by nearly 100.3 percent YoY from Rs. 2,405 crore in Q3 FY22-23 to Rs. 4,818 crore in Q3 FY23-24, accompanied by an increase in the net profit of 86.5 percent YoY, from Rs. 52 crore in Q3 FY22-23 to Rs. 97 crore in Q3 FY23-24.
As of March 2024, FIIs hold 17.85 percent of the shares, whereas DIIs hold 27.01 percent of the shares in the company, aggregating to 44.86 percent of the institutional holdings.
Dixon Technologies (India) Limited is India’s largest design-focused and solutions company that manufactures products in the consumer durables, lighting and mobile phones markets in India.
The company has a diversified product portfolio that includes consumer electronics like LED TVs, home appliances like washing machines, lighting products like LED bulbs and tubelights, mobile phones, Medical Equipment, wearables, Refrigerators and more, along with providing as well as reverse logistics solutions such as LED TV panel repair and refurbishment.
Written by Shivani Singh
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