- Company had a good all around performance with highest sales.
- Growth of 120% in revenue
- EBITDA had a robust growth of 89%.
- Growth has been broad based.
- order book continues to be very strong.
- Growth is reflected across businesses.
Dixon Technologies con call was today at 4:00 PM.
"Company will be focusing on expenditure in R&D and disciplined capital allocation for future growth"
Here are the key takeaways of the call. 😀
@sonalbhutra @drprashantmish6 @varinder_bansal @Milind4profits @gvkreddi
🧵👇
- Company had a good all around performance with highest sales.
- Growth of 120% in revenue
- EBITDA had a robust growth of 89%.
- Growth has been broad based.
- order book continues to be very strong.
- Growth is reflected across businesses.
- Due to global trade mismatch in commodity prices resulted in higher input cost and disturbed supply chain
- It could disturb the ODM revenue a bit
- Company is focusing towards investing in people and R&D
- Company is extremely focused towards disciplined capital allocation
- govt regulation has helped in growth.
- Company did well in this segment because of backward integration, operating leverage & sales of larger size tv.
- 4.4 million capacity that is 30% of India's total requirement
- Company is expanding its capacity to 5.5 millions
- Within a short span of time company has recached back to pre-covid levels.
- margins expanded to 9.5%
- Solutions for smart lighting segment and emergency lighting.
- Order book is very healthy thus company is expanding the capacity further more
- Company is setting up a new factory for lighting and will be operational by Q3 of next fiscal year.
- Company has started exporting to US & Indonesia.
- Company is in talks with very large retailer internationally.
- Company is looking to venture into international markets
- Global market is 8 billion dollar. Company is globally no.2 or 3 manufacturer.
- Margins would be under some pressure this quarter
- Order book remains very high thus, company is going to expand the capacity of semi automatic in Dehradun.
- Tirupati plant is almost complete
- Revenue grew by 114%
- commercial production has started for Nokia
- commercial production for Motorola will start soon
- The new factory under PLI scheme is being constructed.
- The annual capacity for smartphone would be 20 million
- Company has the largest capacity for 2g phones which is used for domestic and export sales
- ROC will be robust and there will be quick payback on the project.
Medical electronics
- Healthy operating margin with very high level of ROCE
- Company has entered into wearables segments
- Reverse logistics segment: Mainly for set up boxes and LED TV
- 4-5 years is good enough time for government to support the manufacturing industry that is in nascent stage.
- Company will do business in segments that are not in PLI scheme as well
- Nokia and Motorola are the first 2 customers that the company has finalized.
- The order made by Motorola is almost exceeding the govt ceiling.
- Motorola production is to cater the global markets
- Due to PLI there would be deepening of manufacturing in India
- Samsung is eligible for PLI scheme in smartphone business
Pli scheme
- Due to supply chain constraints the company will not be able to meet the thresholds
- Next year threshold will be met fairly faster.
- issue is not with order book. issue is with supply chain management.
- Company has added smasung, flipkart's private label, Reliance's private label and tata croma for sales
- Almost 75% of revenue are coming from Xiaomi and Samsung in LED TV
Motorola partnership
- By year 3 or year 4 the company would be catering the 30-40% of Motorola's demand. The China production is mainly being shifted to India
- Lower Cost would be achieved by the company.
- Nokia production would be for domestic market.
Backward integration
- Company is not looking for backward integration in terms of PCB
- Lighting side: Capacity would be coming in Uttarakhand
- PLI week of lighting would be announced by 2nd week of feb and the company would be applying for that.
- 104 crores Capex has been done till now for washing machine and Pli project
Consumer electronics volume has been 200%
- Washing machine 2.4 lacs
- 75 lac for mobile phones
- Cctv 9lac
- Setup box 9 lac
- Medical equipment 450 units
- Talent acquisition
- Strengthen the HR department
More from The Tycoon Mindset
Framework on Buyback covered till now.
This Mega Thread covers our entire thesis on this buyback special situation play, across different sectors & our experience with it.
{Thread of Threads}
🧵👇
Basic of Buyback
Just Dial buyback experience & Notable Learning
Past Case Studies with different learning:
1. TCS Buyback
2. Gandhi Special tubes
This Mega Thread covers our entire thesis on this buyback special situation play, across different sectors & our experience with it.
{Thread of Threads}
🧵👇
Basic of Buyback
BASICS OF Buyback:
— The Tycoon Mindset (@tycoonmindset05) August 31, 2021
This thread is important for every investor who invest in Equity Market
Topics Covered:
1. What is Buyback?
2. Why buyback is important for every investor?
3. How to invest & participate in Buyback?
4. What not to do to avoid Buyback failure?
\U0001f9f5\U0001f447 pic.twitter.com/zR4XPpfU74
Just Dial buyback experience & Notable Learning
Buyback experience:
— The Tycoon Mindset (@tycoonmindset05) September 22, 2020
JustDial buyback just ended. We made a return of ~47% in a quarter by following our Buyback Strategy & technical analysis@gauravgsgs @NeerajMarathe @Prashanth_Krish @mysticfuture @MysticWealth11 @suru27 @tapak7 @stockifi_Invest
Thread of Buyback Play\U0001f447\U0001f9f5
Past Case Studies with different learning:
1. TCS Buyback
Releasing our another piece of buyback analysis on TCS.
— The Tycoon Mindset (@tycoonmindset05) October 11, 2020
Summarizing our article for anyone who wants to have a quick look in our further thread.@shyamsek @SumitResearch @Prakashplutus @tapak7@SanaSecurities @Maaachaaa69 https://t.co/m83G9JZAtN
2. Gandhi Special tubes
Gandhi Special Tubes has come up with buyback at a price of Rs 550. Buyback is ~5% of the total capital.
— The Tycoon Mindset (@tycoonmindset05) July 7, 2021
With higher retail shareholder and promoter participation, Buyback is still lucrative.
Read here, about what's intriguing in this buyback play \U0001f447\U0001f600https://t.co/iKe25GTaYo
More from Society
This is a piece I've been thinking about for a long time. One of the most dominant policy ideas in Washington is that policy should, always and everywhere, move parents into paid labor. But what if that's wrong?
My reporting here convinced me that there's no large effect in either direction on labor force participation from child allowances. Canada has a bigger one than either Romney or Biden are considering, and more labor force participation among women.
But what if that wasn't true?
Forcing parents into low-wage, often exploitative, jobs by threatening them and their children with poverty may be counted as a success by some policymakers, but it’s a sign of a society that doesn’t value the most essential forms of labor.
The problem is in the very language we use. If I left my job as a New York Times columnist to care for my 2-year-old son, I’d be described as leaving the labor force. But as much as I adore him, there is no doubt I’d be working harder. I wouldn't have stopped working!
I tried to render conservative objections here fairly. I appreciate that @swinshi talked with me, and I'm sorry I couldn't include everything he said. I'll say I believe I used his strongest arguments, not more speculative ones, in the piece.
My reporting here convinced me that there's no large effect in either direction on labor force participation from child allowances. Canada has a bigger one than either Romney or Biden are considering, and more labor force participation among women.
But what if that wasn't true?
Forcing parents into low-wage, often exploitative, jobs by threatening them and their children with poverty may be counted as a success by some policymakers, but it’s a sign of a society that doesn’t value the most essential forms of labor.
The problem is in the very language we use. If I left my job as a New York Times columnist to care for my 2-year-old son, I’d be described as leaving the labor force. But as much as I adore him, there is no doubt I’d be working harder. I wouldn't have stopped working!
I tried to render conservative objections here fairly. I appreciate that @swinshi talked with me, and I'm sorry I couldn't include everything he said. I'll say I believe I used his strongest arguments, not more speculative ones, in the piece.
I appreciate his intellectual curiosity and effort. I have quibbles. But my big disappointment is there was no mention of unintended consequences, which we discussed and which are kind of THE core conservative concern on this issue.
— \U0001d682\U0001d68c\U0001d698\U0001d69d\U0001d69d \U0001d686\U0001d692\U0001d697\U0001d69c\U0001d691\U0001d692\U0001d699 (@swinshi) February 18, 2021
We finally have the U.S. Citizenship Act Bill Text! I'm going to go through some portions of the bill right now and highlight some of the major changes and improvements that it would make to our immigration system.
Thread:
First the Bill makes a series of promises changes to the way we talk about immigrants and immigration law.
Gone would be the term "alien" and in its place is "noncitizen."
Also gone would be the term "alienage," replaced with "noncitizenship."
Now we get to the "earned path to citizenship" for all undocumented immigrants present in the United States on January 1, 2021.
Under this bill, anyone who satisfies the eligibility criteria for a new "lawful prospective immigrant status" can come out of the shadows.
So, what are the eligibility criteria for becoming a "lawful prospective immigrant status"? Those are in a new INA 245G and include:
- Payment of the appropriate fees
- Continuous presence after January 1, 2021
- Not having certain criminal record (but there's a waiver)
After a person has been in "lawful prospective immigrant status" for at least 5 years, they can apply for a green card, so long as they still pass background checks and have paid back any taxes they are required to do so by law.
However! Some groups don't have to wait 5 years.
Thread:
The immigration bill text is out!
— Nicole Narea (@nicolenarea) February 18, 2021
Senate version: https://t.co/aJUmtVW6Ir
House version: https://t.co/JMKjQaDi04
Excuse me while I go at this with a highlighter.
First the Bill makes a series of promises changes to the way we talk about immigrants and immigration law.
Gone would be the term "alien" and in its place is "noncitizen."
Also gone would be the term "alienage," replaced with "noncitizenship."
Now we get to the "earned path to citizenship" for all undocumented immigrants present in the United States on January 1, 2021.
Under this bill, anyone who satisfies the eligibility criteria for a new "lawful prospective immigrant status" can come out of the shadows.
So, what are the eligibility criteria for becoming a "lawful prospective immigrant status"? Those are in a new INA 245G and include:
- Payment of the appropriate fees
- Continuous presence after January 1, 2021
- Not having certain criminal record (but there's a waiver)
After a person has been in "lawful prospective immigrant status" for at least 5 years, they can apply for a green card, so long as they still pass background checks and have paid back any taxes they are required to do so by law.
However! Some groups don't have to wait 5 years.
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@franciscodeasis https://t.co/OuQaBRFPu7
Unfortunately the "This work includes the identification of viral sequences in bat samples, and has resulted in the isolation of three bat SARS-related coronaviruses that are now used as reagents to test therapeutics and vaccines." were BEFORE the
chimeric infectious clone grants were there.https://t.co/DAArwFkz6v is in 2017, Rs4231.
https://t.co/UgXygDjYbW is in 2016, RsSHC014 and RsWIV16.
https://t.co/krO69CsJ94 is in 2013, RsWIV1. notice that this is before the beginning of the project
starting in 2016. Also remember that they told about only 3 isolates/live viruses. RsSHC014 is a live infectious clone that is just as alive as those other "Isolates".
P.D. somehow is able to use funds that he have yet recieved yet, and send results and sequences from late 2019 back in time into 2015,2013 and 2016!
https://t.co/4wC7k1Lh54 Ref 3: Why ALL your pangolin samples were PCR negative? to avoid deep sequencing and accidentally reveal Paguma Larvata and Oryctolagus Cuniculus?
Unfortunately the "This work includes the identification of viral sequences in bat samples, and has resulted in the isolation of three bat SARS-related coronaviruses that are now used as reagents to test therapeutics and vaccines." were BEFORE the
chimeric infectious clone grants were there.https://t.co/DAArwFkz6v is in 2017, Rs4231.
https://t.co/UgXygDjYbW is in 2016, RsSHC014 and RsWIV16.
https://t.co/krO69CsJ94 is in 2013, RsWIV1. notice that this is before the beginning of the project
starting in 2016. Also remember that they told about only 3 isolates/live viruses. RsSHC014 is a live infectious clone that is just as alive as those other "Isolates".
P.D. somehow is able to use funds that he have yet recieved yet, and send results and sequences from late 2019 back in time into 2015,2013 and 2016!
https://t.co/4wC7k1Lh54 Ref 3: Why ALL your pangolin samples were PCR negative? to avoid deep sequencing and accidentally reveal Paguma Larvata and Oryctolagus Cuniculus?
