Dixon Technologies (India) Ltd

Dixon and Signify announced the execution of a binding term sheet on 27 March 2025 for a proposed joint venture in India for carrying on the business as an original equipment manufacturer (OEM) of lighting products and accessories. Each of Dixon and Signify will hold 50% stake in the joint venture entity to be incorporated for this purpose. Neither Dixon nor Signify will have any stake in each other. Parties will agree to the detailed provisions in relation to setting up the JV entity, its governance, valuation of transaction and other terms and conditions in the definitive agreements. The transaction will be subject to execution of such definitive agreements, completion of customary conditions precedent and receipt of applicable regulatory approvals, if applicable. The joint venture will undertake part of Signify's OEM orders of lighting products in India, and will also engage in OEM business of various lighting products of other brands. Dixon will acquire 50% stake in the JV Company for consideration other than cash by transfer of its lighting business to the JV Company, including its entire shareholding in DTSPL to the JV Company. Signify will acquire 50% stake in the JV Company for cash consideration which will be used to acquire Signify's LED manufacturing business. Powered by Capital Market - Live

According to an exchange filing, Dixon and Signify disclosed that the JV will operate as an original equipment manufacturer (OEM) for lighting products and accessories in India. Both companies will hold an equal 50% stake in the venture, which is yet to be incorporated. Neither company will have an ownership stake in the other. The parties will agree on the detailed provisions for setting up the JV entity, its governance, transaction valuation, and other terms and conditions in the definitive agreements. The transaction will be subject to the execution of these agreements, completion of customary conditions precedent, and receipt of applicable regulatory approvals, if required. The JV company is yet to be incorporated, and as such, details regarding its name, size, and turnover are not yet available for disclosure. Both parties has clarified that neither Dixon nor Signify will hold any stake in each other's businesses, and the transaction will be carried out on an arm's-length basis. Additionally, the promoter group of Dixon and its affiliates will have no interest in the JV company. The modalities for the acquisition by the JV company, as well as the detailed terms of investment and valuation, will be mutually agreed upon by both parties in the definitive agreements, in compliance with applicable laws. The JV Company will undertake business as an original equipment manufacturer (OEM) of lighting products and accessories. This association will bolster Dixon's manufacturing excellence and superior execution abilities and Signify's leadership in the lighting industry. This partnership will further strengthen Dixon's foothold in the lighting business ecosystem in India in line with Dixon's strategic goals. As part of the arrangement, Dixon will transfer its lighting business, including its entire shareholding in Dixon Technologies Solutions (DTSPL), a wholly owned subsidiary of Dixon, to the JV. Signify, on the other hand, will provide cash consideration to acquire its LED manufacturing business, thereby securing a 50% stake in the JV. The JV will require necessary regulatory approvals and other customary filings before completion. Further details regarding the size, turnover, and name of the JV will be disclosed once the company is incorporated. The terms of investment and valuation shall be mutually agreed between the parties in the definitive agreements, in compliance with applicable laws. Atul B. Lall, vice chairman and managing director of Dixon, added, It gives us immense pleasure to partner with Signify India, the leader in the lighting segment. We see them as an ideal strategic partner that shares our core values of quality, innovation, manufacturing prowess, and customer centricity. We believe this proposed association will bolster our operational efficiency, backed by Signify's process orientation and strong understanding of lighting technologies.' Sumit Joshi, MD and CEO, Signify Innovations India, said, 'Aligned to the government's Make in India vision, this proposed joint venture with Dixon Technologies will create a world-class manufacturing company that combines the technology leadership, pricing, and offerings to the customers. With Signify's unparalleled understanding of lighting technologies and Dixon's manufacturing excellence, this joint venture will manufacture high-quality, competitive lighting products in India.' Dixon Technologies (India) transformed from being a manufacturer of electronic goods to a leading multi-product corporation with widespread activities. The company is primarily engaged in the manufacturing of electronics as its core business activity. The company's consolidated net profit declined 47.48% to Rs 216.23 crore on a 9.37% fall in revenue from operations to Rs 10,453.68 crore in Q3 FY25 over Q2 FY25. Powered by Capital Market - Live

Dixon Technologies (India) has allotted 8,000 equity shares under ESOP on 19 February 2025. The paid up share capital of the Company will accordingly increase from Rs. 12,01,42,450 to Rs. 12,01,58,450. Powered by Capital Market - Live

Dixon Technologies (India) Ltd fell 1.01% today to trade at Rs 15269.45. The BSE Consumer Durables index is down 0.54% to quote at 56527.04. The index is down 11.83 % over last one month. Among the other constituents of the index, Blue Star Ltd decreased 1.01% and Crompton Greaves Consumer Electricals Ltd lost 0.43% on the day. The BSE Consumer Durables index went up 10.35 % over last one year compared to the 5.17% surge in benchmark SENSEX. Dixon Technologies (India) Ltd has lost 14.92% over last one month compared to 11.83% fall in BSE Consumer Durables index and 3.86% drop in the SENSEX. On the BSE, 449 shares were traded in the counter so far compared with average daily volumes of 18255 shares in the past one month. The stock hit a record high of Rs 19149.8 on 17 Dec 2024. The stock hit a 52-week low of Rs 5804 on 31 Jan 2024.Powered by Capital Market - Live

The key domestic indices traded with significant losses in afternoon trade as investors considered the likely consequences of Donald Trump's second term, focusing on US-China trade tensions, US Fed rate cuts, and global economic growth. The Nifty traded below the 23,200 level after hitting the day's high of 23,426.30 in early trade. Trading was volatile due to the weekly F&O series expiry of the Sensex today. Barring FMCG all the other sectroal indices on the NSE were traded in red with consumer durables and Realty shares witnessing steepest decline. At 13:25 IST, the barometer index, the S&P BSE Sensex, dropped 591.24 points or 0.77% to 76,489.11. The Nifty 50 index lost 146.20 points or 0.63% to 23,198.55. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.53% and the S&P BSE Small-Cap index declined 1.57%. The market breadth was weak. On the BSE, 1,280 shares rose and 2,568 shares fell. A total of 150 shares were unchanged. Gainers & Losers: Apollo Hospital Enterprise (up 3.05%), Ultratech Cement (up 2.02%), Bharat Petroleum Corporation (BPCL) (up 1.57%), Tata Consumer Products (up 1.56%) and HCL Technologies (up 1.04%) were the major Nifty gainers. Trent (down 4.71%), Adani Ports & Special Economic Zone (APSEZ) (down 2.52%), ICICI Bank (down 2.25%), NTPC (down 2.02%) and Adani Enterprises (down 1.69%) were the major Nifty losers. Stocks in Spotlight: Dixon Technologies (India) tumbled 13.08% after the company's consolidated net profit declined 47.48% to Rs 216.23 crore on 9.37% fall in revenue from operations to Rs 10,453.68 crore in Q3 FY25 over Q2 FY25. Sunteck Realty advanced 1.62% after the company reported consolidated net profit of Rs 42.52 crore in Q3 FY25 as against net loss of Rs 9.73 crore in Q3 FY24. Revenue from operations stood at Rs 161.76 crore in the December 2024 quarter, registering a growth of 281.06% YoY. Jammu & Kashmir Bank declined 2.50%. The bank reported 26.23% jump in net profit to Rs 531.51 crore on 12.57% increase in total income to Rs 3,448.40 crore in Q3 FY25 over Q3 FY24. International Travel House (ITHL) tanked 8.08% after the company's standalone net profit tumbled 27.49% to Rs 5.38 crore in Q3 FY25 as against Rs 7.42 crore posted in Q3 FY24. Revenue from operations slipped 4.36% year on year (YoY) to Rs 58.27 crore in the quarter ended 31 December 2024. DEE Development Engineers rallied 5.03% after the firm commissioned 2nd phase of its manufacturing plant in Anjar, Gujarat, enhancing the capacity by 9,000 MT per annum. Venues remedies jumped 4.86% after the company successfully renewed its European good manufacturing practices (GMP) certification by infarmed, the national health authority of Medicines and Health products in Portugal. Glenmark Pharmaceuticals added 0.04% after the company's US-based division Glenmark Pharmaceuticals Inc. announced the launch Phytonadione Injectable Emulsion. Global Markets: The US Dow Jones index futures were currently up by 113 points, signalling a positive opening for US stocks today. Most of the European market declined as trader digested the first executive orders that newly inaugurated U.S. President Donald Trump signed on Monday. Further, investors will be keeping eye on the World Economic Forum this week. Most Asian shares traded mixed as market attention turned to upcoming central bank meetings in Asia later this week. Malaysia's central bank is expected to maintain its policy rate at 3% on Wednesday, while the Bank of Japan will hold its next policy meeting from January 23 to 24, with Governor Kazuo Ueda signaling potential interest rate hikes. President Donald Trump held off on imposing sweeping trade tariffs on his first day in office. Trump resumed his duties in the White House on Monday, a day after his inauguration and during the Martin Luther King, Jr. Day holiday, when U.S. stock market was closed. Sworn in as the 45th President of the United States on January 20, Trump emphasized his vision of America First in his inaugural address, focusing on economic revitalization, national security, and prioritizing domestic interests over globalization. Trump began his term with a series of executive orders aimed at fulfilling his campaign promises. These included measures to tighten immigration controls, lay the groundwork for a U.S.-Mexico border wall, boost fossil fuel production, and scale back environmental regulations. While he declared plans to address global trade practices, Trump opted not to impose new tariffs on the U.S.'s largest trading partners, signaling a more deliberate approach to trade relations. Instead, he directed his administration to combat unfair trade globally. Investors closely monitored these early actions, given Trump's promises to rapidly implement his agenda.Powered by Capital Market - Live

The key equity indices traded with major losses in mid-morning trade, as investors considered the likely consequences of Donald Trump's second term, focusing on US-China trade tensions, US Fed rate cuts and global economic growth. The Nifty traded below the 23,200 level after hitting the day's high of 23,426.30 in early trade. Realty shares witnessed profit booking after advancing in past five consecutive trading sessions. At 11:30 IST, the barometer index, the S&P BSE Sensex, dropped 762.83 points or 0.99% to 76,310.61. The Nifty 50 index lost 191.10 points or 0.82% to 23,153.65. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.54% and the S&P BSE Small-Cap index declined 1.46%. The market breadth was strong. On the BSE, 1,266 shares rose and 2,461 shares fell. A total of 148 shares were unchanged. Buzzing Index: The Nifty Realty index tumbled 3.40% to 913.25. The index rallied 4.77% in past five consecutive trading sessions. Oberoi Realty (down 8.22%), Macrotech Developers (down 4.87%), Phoenix Mills (down 2.7%), DLF (down 2.2%), Sobha (down 2.19%), Prestige Estates Projects (down 2.16%), Brigade Enterprises (down 1.71%), Raymond (down 1.56%), Mahindra Lifespace Developers (down 1.27%) and Godrej Properties (down 1.04%) declined. Stocks in Spotlight: Dixon Technologies (India) slumped 13.62% after the company's consolidated net profit declined 47.48% to Rs 216.23 crore on 9.37% fall in revenue from operations to Rs 10,453.68 crore in Q3 FY25 over Q2 FY25. Oberoi Realty dropped 8.27%. The real estate developers consolidated net profit surged 71.70% to Rs 618.38 crore in Q3 FY25 as against Rs 360.15 crore posted in Q3 FY24. Revenue from operations climbed 33.92% to Rs 1,411.08 crore in Q3 FY25 as compared to Rs 1,053.64 crore recorded in the corresponding quarter last year. Multi Commodity Exchange of India (MCX) tumbled 10.74%. The company has reported a consolidated net profit of Rs 160.04 crore in Q3 FY25 as against net loss of Rs 5.35 crore posted in Q3 FY24. Revenue from operations jumped 57.35% year on year (YoY) to Rs 301.38 crore in the quarter ended 31 December 2024. Global Markets: The US Dow Jones index futures were currently up by 113 points, signalling a positive opening for US stocks today. Most Asian shares advanced as market attention turned to upcoming central bank meetings in Asia later this week. Malaysia's central bank is expected to maintain its policy rate at 3% on Wednesday, while the Bank of Japan will hold its next policy meeting from January 23 to 24, with Governor Kazuo Ueda signaling potential interest rate hikes. President Donald Trump held off on imposing sweeping trade tariffs on his first day in office. Trump resumed his duties in the White House on Monday, a day after his inauguration and during the Martin Luther King, Jr. Day holiday, when U.S. stock market was closed. Sworn in as the 45th President of the United States on January 20, Trump emphasized his vision of America First in his inaugural address, focusing on economic revitalization, national security, and prioritizing domestic interests over globalization. Trump began his term with a series of executive orders aimed at fulfilling his campaign promises. These included measures to tighten immigration controls, lay the groundwork for a U.S.-Mexico border wall, boost fossil fuel production, and scale back environmental regulations. While he declared plans to address global trade practices, Trump opted not to impose new tariffs on the U.S.'s largest trading partners, signaling a more deliberate approach to trade relations. Instead, he directed his administration to combat unfair trade globally. Investors closely monitored these early actions, given Trump's promises to rapidly implement his agenda. Powered by Capital Market - Live

On year on year (YoY) basis, the company's consolidated net profit and revenue surged 122.76% and 116.96% respectively in Q3 FY25. A foreign broker issued an 'underperform rating with a price target of Rs 12,600, suggesting potential 28% drop from Monday's closing levels. Brokerage citied that the mobile PLI tenure expires in 2026 and that consumer electronic sales were down 32$% on a year-on-year basis. At FY26, P/E ratio of 107x makes Dixon's risk-reward appear stretched. Profit before tax (PBT) stood at Rs 285.13 crore in Q3 FY25, steeply higher than Rs 125.74 crore in Q3 FY24. EBITDA surged 113% to Rs 398 crore in Q3 FY25 as compared with Rs 187 crore in Q3 FY24.EBITDA margin fell to 3.8% in Q3 FY25 from 3.9% in Q3 FY24. Revenue from mobile & EMS divisions soared 190% to Rs 9,305 crore during the quarter as against Rs 3,214 crore in Q3 FY24. Operating profit surged 210% to Rs 322 crore in Q3 FY25 as compared with Rs 104 crore posted in same quarter last year. In Q3 FY25, revenue from Home Appliances was at Rs 315 crore (up 9% YoY), and Lighting Products revenue stood at Rs 201 crore (down 7% YoY) while revenue from consumer electronics & appliances stood at Rs 633 crore (down 32% YoY). Dixon Technologies (India) transformed from being a manufacturer of electronic goods to leading multi-product corporation with widespread activities. The company is primarily engaged in the manufacturing of electronics as its core business activity.Powered by Capital Market - Live

Net profit of Dixon Technologies (India) rose 77.51% to Rs 171.19 crore in the quarter ended December 2024 as against Rs 96.44 crore during the previous quarter ended December 2023. Sales rose 116.96% to Rs 10453.68 crore in the quarter ended December 2024 as against Rs 4818.25 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales10453.684818.25 117 OPM %3.743.83 - PBDT359.73166.44 116 PBT285.13125.74 127 NP171.1996.44 78 Powered by Capital Market - Live

Dixon Technologies (India) will hold a meeting of the Board of Directors of the Company on 20 January 2025.Powered by Capital Market - Live

Cellecor Gadgets (Cellecor) is a leading name in the consumer electronics industry, known for its innovative and cutting-edge technology. The company offers a wide range of products, including mobile phones, smart TVs, soundbars, smartwatches, kitchen appliances, and home appliances such as washing machines, air conditioners, refrigerators, air coolers, geysers, and heaters, among others. Atul B. Lall, vice chairman & managing director of Dixon Technologies, stated that 'We are delighted to announce that Dixon Electro Manufacturing has entered into an MOU with Cellecor for manufacturing of Refrigerators and its related components. By this partnership, Dixon Electro Manufacturing will increase its customer base in Refrigerator segment. Further, this partnership represents a strategic milestone and commitment to the 'Make in India' initiative and to cater to the evolving needs of Indian consumers.' The official announcement was made after market hours on 26 December 2024. Dixon Technologies (India) transformed from being a manufacturer of electronic goods to leading multi-product corporation with widespread activities. The company is primarily engaged in the manufacturing of electronics as its core business activity. The company's consolidated net profit surged 263.3% to Rs 536.49 crore on a 133.3% jump in net sales to Rs 11,534.08 crore in Q2 FY25 over Q2 FY24. The scrip shed 0.07% to Rs 17,996.75 on the BSE. Powered by Capital Market - Live