As I was reading about the company in a few articles, the EBITDA margins are pretty low but they have a huge list of big clients. Also could someone let me know the IPO schedule?
About Dixon Technologies
Dixon Technologies (India) Limited is the largest home grown design-focused and solutions company engaged in manufacturing products in the consumer durables, lighting, and mobile phones markets in India. The company is backed by Motilal Oswal Private Equity.
Their diversified product portfolio includes
- Consumer electronics like LED TVs
- Home appliances like washing machines
- Lighting products like LED bulbs and tube-lights, downlighters and CFL bulbs
- Reverse logistics i.e. repair and refurbishment services of set top boxes, mobile phones and LED TV panels.
Purpose of the IPO
Debt repayment
New LED TVs manufacturing unit in Tirupati
Upgrading IT infrastructure
Profit and loss ( Rs in million)
| Particulars | FY17 | FY16 | FY15 |
|---|---|---|---|
| Revenue from Operations | 24567.6 | 13894.2 | 12013.4 |
| Other Income | 15 | 17.6 | 17.9 |
| Total Income | 24582.6 | 13911.7 | 12031.3 |
| Total Expenditure | 23660.2 | 13307.3 | 11691.3 |
| Cost of materials consumed | 22056.1 | 12284.4 | 10952.9 |
| Changes in Inventories | -255.3 | -161.3 | -108.8 |
| Employee benefits expense | 640.1 | 549.6 | 368.6 |
| Other expenses | 1219.3 | 634.7 | 478.7 |
| PBIDT | 922.4 | 604.4 | 339.9 |
| Interest | 127.7 | 131.1 | 98.5 |
| PBDT | 794.8 | 473.4 | 241.5 |
| Depreciation | 106.4 | 84.4 | 69 |
| PBT | 688.4 | 389 | 172.5 |
| Exceptional items | 0 | 117 | 0 |
| Tax (incl. DT & FBT) | 184.6 | 80.3 | 42.2 |
| Tax | 158.5 | 70.6 | 38.7 |
| Deferred Tax | 26.2 | 9.7 | 3.5 |
| Reported Profit After Tax | 503.8 | 425.7 | 130.4 |
| Share of Profit /(loss) transferred to minority interest | 0 | 0 | 9 |
| Share of Profit /(loss) in Associates | 0 | 0 | -2.8 |
| Adj. Profit | 503.8 | 425.7 | 118.6 |
| EPS (Rs.) | 45.9 | 137.2 | 38.2 |
| Equity | 109.9 | 31 | 31 |
| Face Value | 10 | 10 | 10 |
| OPM (%) | 3.7 | 4.2 | 2.7 |
| PATM (%) | 2.1 | 3.1 | 1 |
Tentative IPO schedule
Basis of Allotment: September 13th
Refund of application amount: September 14th
Credit of shares to demat accounts: September 15th
Listing: September 18th
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