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Dixon Technologies to do capital expenditure of up to Rs 1,800 crore over the next 3 years

14 Jun 2024 , 12:09 PM

Dixon Technologies India, a home-grown electronics maker, has planned an expenditure of ₹1,500-1,800 Crore over the next three years to increase production capacity and component manufacturing, according to vice chairman and managing director Atul B Lall.

The poster company for Indian contract manufacturing will raise financing through internal accruals based on cash flow. Lall stated that the company will invest more than ₹500 Crore this year and will not hesitate to raise financing for large-scale acquisitions. Dixon is also trying to enter the electric car market by manufacturing components such as electronics modules.

Lall stated that 60-65% of expenditure this year will be spent on mobile phone capacity growth, ₹180-200 Crore on display modules, and the rest on other items. Dixon is also interested in expanding into the non-consumer electronic manufacturing services market and is looking for property to build a factory to manufacture electronic modules for electric vehicles.

Dixon last week signed a term agreement with HKC Corporation to form a joint venture to produce components such as liquid crystal modules and TFT-LCD modules, assemble end products such as smartphones, TVs, monitors, and car displays, and market HKC-branded end goods in India.

The company recorded a 45% year-on-year increase in consolidated revenue from operations in 2023-24 at ₹17,713 Crore, while net profit increased by 47% year on year to ₹375 Crore. According to Lall, the company expects to increase revenue by 30-40% during the next three years.

Dixon has created a capacity of 45 million smartphones and 40 million feature phones, accounting for approximately half of the market opportunity. The company also has the largest television manufacturing capacity in India, has built capacity for about 10% of the country’s refrigerator demand, and is expanding into laptop, tablet, and IT hardware product manufacture.

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