Incorporated in 1993, Dixon Technologies is engaged in manufacturing products in the consumer durables, lighting and mobile phones markets. The product portfolio of Dixon include:
1. Consumer electronics like LED TVs
2. Home appliances like washing machines
3. Lighting products like LED bulb, tube lights, CFL bulbs etc.
4. Mobile phones
Company also provide repair and refurbishment services of set top boxes, mobile phones and LED TV panels.
Dixon is leading manufacturer of lighting products of CFL, LED bulbs, LED TVs and semi-automatic washing machines in India. Dixon manufacture products for popular retail brands including Panasonic, Philips, Haier, Gionee, Surya Roshni, Reliance Retail, Intex Technologies, Mitashi and Dish.
Dixon is also a leading Original Design Manufacturer (ODM) in India. Company develop and design products in-house at its R&D facility. The ODM business contribute over 25% of its revenue.
Company have six manufacturing facilities located in the states of Uttar Pradesh and Uttarakhand. Company has over 629 permanent employees and 4,030 contractors.
Competitive Strengths
1. Leading market position in key verticals (Manufacturing of TVs, washing machines, LED and CFL lights)
2. Strong relationships with a diverse top-tier customer base (Global & National Brands and Domestic retail private labels)
3. End to end solutions provider with dedicated research and development capabilities (R&D, Global sourcing, Backward integration, Reverse Logistics)
4. Flexible and cost-effective manufacturing capabilities
5. Strong Financial Performance and stable cash flows
| Purpose | Amount (₹ Cr) |
|---|---|
| 1 Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company | ₹22 |
| 2 Setting up a unit for manufacturing of LED TVs at the Tirupati Facility | ₹8 |
| 3 Finance the enhancement of the backward integration capabilities in the lighting products vertical at the Dehradun I Facility | ₹9 |
| 4 Upgradation of the information technology infrastructure of the Company | ₹11 |
| 5 General corporate purposes | ₹8 |
| Metric | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 |
|---|---|---|---|
| Total Assets | 508 | 328 | 283 |
| Revenue | 1,646 | 1,254 | 1,117 |
| PAT | 46 | 36 | 10 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 1,696,712 (50%) | — |
| NII / HNI | — | 509,014 (15%) | — |
| Retail (RII) | — | 1,187,699 (35%) | — |
| Total | — | 3,393,425 (100%) | — |
* Amount calculated at upper price band (₹1,766) · ** Total includes all investor categories
- 1 Initiation of Refund 14 Sep 2017
- 2 Credit of Shares to Demat 15 Sep 2017
- 3 Lock-in Period (30%) October 13, 2017
- 4 Lock-in Period (50%) December 12, 2017
- Retail allocation is good at 35% of the total offering.
- HNI/NII demand is good at 15%.
- Institutional (QIB) interest is strong at 50%.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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