Dixon Tech gains on receiving PLI incentive

13 Sep 2022 , 11:30 AM

The disbursement received by Ministry of Electronics and Information Technology (MEITY) is under production linked incentive scheme for manufacturing of mobile phones under domestic companies segment. Padget Electronics was one of the 16 companies, domestic & international which received approval under PLI scheme of Government of India for manufacturing of mobile phones. Dixon said that through this disbursement Padget becomes the first company out of 16 approved entities to receive this coveted approval. Atul B. Lall, vice chairman & MD of Dixon Technologies (India) said, ?PLI Schemes are cornerstone for governments push for accomplishing the vision of an Atmanirbhar Bharat and making domestic manufacturing globally competitive. Such flagships schemes help in creating domestic champions, encourage more investments and help in making India a competitive destination of electronics manufacturing. It is a proud moment that wholly owned subsidiary of Dixon is, by far, the first entity to receive disbursement approval from Government of India under PLI scheme. It is indeed a huge recognition and we, at Dixon, are committed to make more investments, create a component ecosystem & continue to migrate more to design led manufacturing.? Dixon Technologies (India) is the largest home-grown design-focused and solutions company engaged in contract manufacturing products in the consumer durables, lighting and mobile phones markets in India. The company reported a 151.7% surge in consolidated net profit to Rs 45.70 crore on 52.9% jump in net sales to Rs 2,855.07 crore in Q1 FY23 over Q1 FY22. Powered by Capital Market – Live News