{"id":126974,"date":"2022-01-31T09:40:19","date_gmt":"2022-01-31T14:40:19","guid":{"rendered":"https:\/\/44.250.171.167\/?p=126974"},"modified":"2022-10-05T05:55:49","modified_gmt":"2022-10-05T09:55:49","slug":"dixon-technologies-india-ltd-q3-fy22-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/dixon-technologies-india-ltd-q3-fy22-earnings-conference-call-insights\/","title":{"rendered":"Dixon Technologies India Ltd Q3 FY22 Earnings Conference Call Insights"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"Dixon Technologies India Ltd Q3 FY22 Earnings Concall\" width=\"500\" height=\"375\" src=\"https:\/\/www.youtube.com\/embed\/ke2l_LNitvQ?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><strong>Key highlights from Dixon Technologies India Ltd (<a href=\"https:\/\/44.250.171.167\/symbol\/DIXON\/\">DIXON<\/a>) Q3 FY22 Earnings Concall<\/strong><\/p>\n<p><strong>Management Update:<\/strong><\/p>\n<ul>\n<li>DIXON stated that it\u2019s confident the margin should start improving from the current quarter and go back to the normalized level by FY23.<\/li>\n<\/ul>\n<p><strong>Q&amp;A Highlights:<\/strong><\/p>\n<ul>\n<li>Bharat Shah from ASK Investment asked about the profitability growth in relation to revenue growth. Atul Lall MD said that the profitability growth will not be the same linear way as revenue growth, but added that the return ratios are going to be significantly higher from an overall financial perspective. Additionally, Atul said that over the next three year, the 30% ROCE should be somewhere in the range of 40% odd.<\/li>\n<\/ul>\n<ul>\n<li>Ankush Sharma of HDFC asked about the consumer electronics, TV segment where the sales growth saw a sharp slowdown from last 2-3 quarters and what was the volume versus value\/pricing growth. Atul Lall MD answered that there was\u00a0 a volume reduction YoY of about 8%, but also there was a pricing growth. However, there has been a marginal growth of 3% odd.<\/li>\n<\/ul>\n<ul>\n<li>Ankush Sharma of HDFC asked what kind of demand the company is hearing from its OEMs in TVs and other categories. Atul Lall MD said that on the TV side demand is normal and the company is having a run rate in 3Q of around 2.3 lakhs a month. Therefore, it should be around 700-750K, which is normal. In case of other products like washing machine, the demand for the company is very good and is in a run rate of 150-225K a month, a significant growth from FY21. In lighting it\u2019s normal, not heavy growth.<\/li>\n<\/ul>\n<ul>\n<li>Ankush Sharma of HDFC queried about the capex number for FY22-FY24, areas of spend and gross debt on the books. Atul Lall MD replied the company in the nine months was at about INR280 crores and last quarter expects to add another INR80-90 crore, closing the year at about INR370-380 crores in capex. Main areas of spend is into mobile business, followed by consumer electronics and land parcels. Net debt as on 31 Dec. is about INR100 crores and expect a similar number as on 31 March as well. For FY22-23 it is expected in the range of INR225-250 crores.<\/li>\n<\/ul>\n<ul>\n<li>Bhoomika Nair of DAM Capital asked that on TVs is it fair to say the company is hitting the peak as seen in the current quarter. \u00a0Atul Lall MD replied that the ODM business is for an existing client but it\u2019s getting the largest share of wallet and it\u2019s going to increase the volumes.<\/li>\n<\/ul>\n<ul>\n<li>Bhoomika Nair of DAM Capital also asked about the fully automatic washing machine and the volume ramp up in FY23. \u00a0Atul Lall MD answered that the current run rate is about 10K a month and in the next fiscal, the company should be somewhere around 300K.<\/li>\n<\/ul>\n<ul>\n<li>Renu Baid with IIFL queried that on the LED TV side how have the open cell prices moved and is there any sign of softness in the prices. Atul Lall MD answered that on the open cell prices the prices have softened. The company added that for 32 inches it has come down to about $42-43. At this level it is stabilized and DIXON is not seeing immediately any further softening of price. However, the unit price has come down significantly.<\/li>\n<\/ul>\n<ul>\n<li>Renu Baid with IIFL also enquired that on the mobile PLI side, the target was about INR3,000 crore of total max revenue ceiling for FY23 and what\u2019s the view currently and the guidance for FY23. \u00a0Atul Lall MD said that for current quarter, it should be somewhere around INR2,500 crores under PLI. In FY23, DIXON is confident of achieving the upward ceiling of INR4,000 crores for which the company has the order book.<\/li>\n<\/ul>\n<ul>\n<li>Girish Achhipalia of Morgan Stanley asked about the other expenditures spiking and why it is happening. Atul Lall MD answered that freight cost is part of the company\u2019s cost of material consumed, considering gross margin. In other expense, there is no spike and as a percentage of revenue, it\u2019s in control and 3% of operating revenues.<\/li>\n<\/ul>\n<ul>\n<li>Pulkit Patni from Goldman Sachs asked about the structure of the contracts with the OEM and if any volume discount the company gives over a period of 3-4 years. Atul Lall MD said that there is no such element in the contract of any volume discounts. There is no front-ending or anything of that kind.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Dixon Technologies India Ltd (DIXON) Q3 FY22 Earnings Concall Management Update: DIXON stated that it\u2019s confident the margin should start improving from the current quarter and go back to the normalized level by FY23. Q&amp;A Highlights: Bharat Shah from ASK Investment asked about the profitability growth in relation to revenue growth. Atul [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,6351,392,8],"tags":[2382,8532],"class_list":["post-126974","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-consumer-stocks","category-earnings","category-technology-stocks","tag-electronics","tag-technology"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":130689,"url":"https:\/\/alphastreet.com\/india\/dixon-technologies-india-ltd-q4-fy22-earnings-conference-call-insights\/","url_meta":{"origin":126974,"position":0},"title":"Dixon Technologies India Ltd Q4 FY22 Earnings Conference Call Insights","author":"Praveen","date":"June 17, 2022","format":false,"excerpt":"https:\/\/youtu.be\/3WhBPJqVzBs Key highlights from Dixon Technologies India Ltd (DIXON) Q4 FY22 Earnings Concall \u00a0 Q&A Highlights: \u00a0Bhoomika Nair - DAM Capital - Analyst The mobile business is looking at a very sharp ramp up. Talk about the ramp up in Motorola specifically and is it scaling up right now? Saurabh\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":147226,"url":"https:\/\/alphastreet.com\/india\/dixon-technologies-india-ltd-q4-fy23-earnings-conference-call-insights\/","url_meta":{"origin":126974,"position":1},"title":"Dixon Technologies India Ltd Q4 FY23 Earnings Conference Call Insights","author":"Praveen","date":"May 24, 2023","format":false,"excerpt":"Key highlights from Dixon Technologies India Ltd (DIXON) Q4 FY23 Earnings Concall Q&A Highlights: [00:16:16] Renu Baid from IIFL asked about the guidance for mobile segment in FY24-35. Atul Lall MD said mobile is going to be the largest figure and the company is concluding two of the largest brands\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":178437,"url":"https:\/\/alphastreet.com\/india\/dixon-technologies-q3-fy26-earnings-results\/","url_meta":{"origin":126974,"position":2},"title":"Dixon Technologies Q3 FY26 Earnings Results","author":"Divyansh_Kasana","date":"January 30, 2026","format":false,"excerpt":"Executive Summary Dixon Technologies (India) Ltd reported Q3FY26 revenues of \u20b910,672 crore, up 2.09% YoY, with consolidated net profit rising 48.61% to \u20b9321 crore. Total expenses increased 2.16% YoY to \u20b910,399 crore, demonstrating strong margin improvement in electronics manufacturing. Revenue & Growth Revenues edged higher to \u20b910,672.00 crore in Q3FY26\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/TECH-1.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/TECH-1.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/TECH-1.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/TECH-1.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/TECH-1.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/TECH-1.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":171189,"url":"https:\/\/alphastreet.com\/india\/dixon-technologies-q1-fy26-earnings-results\/","url_meta":{"origin":126974,"position":3},"title":"Dixon Technologies Q1 FY26 Earnings Results","author":"Divyansh_Kasana","date":"September 12, 2025","format":false,"excerpt":"Company Overview: Dixon Technologies (India) Limited, incorporated in 1993, is a leading Electronic Manufacturing Services (EMS) company. It operates in diverse electronic product verticals, including consumer electronics, lighting, home appliances, CCTV cameras, and mobile phones. The company also undertakes reverse logistics operations and manufactures security surveillance equipment, wearables, audibles, and\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"DIXON Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/DIXON.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/DIXON.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/DIXON.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/DIXON.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/DIXON.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/DIXON.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":128091,"url":"https:\/\/alphastreet.com\/india\/prevest-denpro-limited-q3-fy22-earnings-conference-call-insights\/","url_meta":{"origin":126974,"position":4},"title":"Prevest Denpro Limited Q3 FY22 Earnings Conference Call Insights","author":"Praveen","date":"March 2, 2022","format":false,"excerpt":"https:\/\/www.youtube.com\/watch?v=ECd3N-qiOMo Key highlights from Prevest Denpro Limited (PREVEST) Q3 FY22 Earnings Concall Q&A Highlights: Pranay Jain from Dealwell Capital asked that since the export thrust is getting stronger and domestic visibility increasing, what\u2019s the revenue guidance for the next two years. Atul Modi MD said that the company\u2019s export business\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":139201,"url":"https:\/\/alphastreet.com\/india\/infographic-dixon-techologiesindia-ltd-nse-dixon-q3-fy23-results-total-income-falls-37-75-qoq\/","url_meta":{"origin":126974,"position":5},"title":"Infographic Dixon Techologies(India) Ltd.(NSE: DIXON) | Q3 FY23 Results | Total Income falls -37.75% qoq","author":"Divyansh_Kasana","date":"January 25, 2023","format":false,"excerpt":"Dixon Technologies (India) Limited (NSE:DIXON) is a consumer electronics manufacturing company based in India. The company specializes in the manufacturing of LED TVs, home appliances, lighting products and mobile phones. Dixon Technologies (India) Limited's financial performance has been volatile, with some months experiencing significant growth in sales and profitability while\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/9a13395a-23de-4fde-a1ff-9932f84e1d09.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/9a13395a-23de-4fde-a1ff-9932f84e1d09.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/9a13395a-23de-4fde-a1ff-9932f84e1d09.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/9a13395a-23de-4fde-a1ff-9932f84e1d09.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/9a13395a-23de-4fde-a1ff-9932f84e1d09.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/9a13395a-23de-4fde-a1ff-9932f84e1d09.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/126974","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1767"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=126974"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/126974\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=126974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=126974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=126974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}