In Friday’s Early trade, the shares of India’s second-largest mobile phone manufacturer surged nearly 10% reaching a 52-week high price of ₹9,064 per share after the company signed an MoU with Acerpure for manufacturing of a range of consumer appliance products.
On Friday at 11:30 a.m., Dixon Technologies Ltd. shares were trading at ₹9,006 per share, up ₹755.80 or 9.16 percent, from the previous close price. The company has a market capitalization of ₹53,918 crore.
As per the company’s exchange filing,Dixon Technologies Limited has entered into an Memorandum of Understanding (MoU) with Acerpure India CE Private Limited (“Acerpure”) for manufacturing of range of consumer appliance products.
Under this agreement, Dixon Technologies will undertake manufacturing of Acerpure products in its facilities, beginning with cutting-edge TVs, subject to the signing of definitive agreements.
Acerpure is engaged in the business of trade, import and export of consumer durables and home appliances, and associated peripherals, accessories, components and parts and provision of ancillary services connected therewith.
Dixon 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.
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 66% over the past six months and a staggering 204 % over the last year.
During Q4 FY24, the company witnessed a significant surge in revenue, soaring by 52 percent from ₹3,065 crores in Q4 FY23 to ₹4,658 crores. Concurrently, there was a notable 21 percent increase in net profit, which rose from ₹80 crores to ₹97 crores.
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.
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.
Written by Omkar Chitnis
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