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On Wednesday, Dixon Technologies Ltd. shares closed at ₹8,102 per share, up ₹0.46, or 37.40 percent, from the previous close price. The company has a market capitalization of ₹48,237 crore. 

Dixon Technologies Ltd announced a consolidated net profit of ₹97 crores for the quarter ending March 2024 (Q4FY24), marking a 21% rise from ₹80 crores recorded in Q4FY23. Additionally, the company’s total revenue for the same quarter surged by 52%, reaching ₹4,658 crores compared to ₹3,065 crores in the previous year’s corresponding quarter. 

For the fiscal year 2023-24, the company reported a consolidated net profit of ₹374 Crores, up 47% from ₹255 Crores in FY22-23. Similarly, the total revenue for the fiscal year grew by 45%, standing at ₹17,713 crores compared to ₹12,197 crores in the previous fiscal year. As per the company’s filing,. 

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Dixon Tech currently has 17 manufacturing facilities totaling 2.5 million square feet, with plans to develop 23 plants totaling 4.8 million square feet by FY 2024. 

Recently, On February 23, 2024, Dixon Technologies inaugurated a new manufacturing unit at Dehradun, Uttarakhand, for the manufacturing of washing machines, boasting the company’s annual production capacity of 24 lakhs. 

Dixon Technologies Ltd. has seen impressive growth, with its shares surging by 48% over the past six months and a staggering 176 % over the last year. 

The company commands significant market shares, including 35% in LED TVs, 30% in washing machines, 25% in security surveillance systems, and 50% in lighting solutions. Notably, Dixon Technologies Ltd. stands as the fourth-largest LED light manufacturer globally and holds the top position in India, specializing in LED lamp production. 

Domestic revenue accounted for 91 percent of the company’s revenue in the previous fiscal year, while export sales accounted for 9 percent. In the current fiscal year, the company has set aside Rs 450 million for capital expenditure.

In FY 22-23, the company generated considerable cash from operations of ₹726 crores, which was used to support a capex of ₹ 450 crores and decrease gross debt by ₹ 275 crores, further strengthening the balance sheet. 

Dixon Technologies Limited is the largest company engaged in manufacturing products in the consumer durables, lighting, and mobile phone markets in India. Their diversified product portfolio includes consumer electronics, home appliances like washing machines, lighting products, tube lights, downlighters, mobile phones, and many more. 

Written by Omkar Chitnis 

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