Dixon Technologies shares surge over 6%, hit all-time high; here is why

The stock price jumped as the company said in its filing to exchanges that Padget Electronics, a wholly owned subsidiary of Dixon Technologies (India) Limited (“Dixon”), together with Compal, will launch the mass production of Google Pixel (smartphones) for Compal’s designated customer, ‘Google Information Services India Private Limited.’

Padget Electronics is engaged in the business of manufacturing mobile phones and IT hardware as its core business activity.

Commenting on it, Atul B Lall, Vice Chairman & Managing Director of Dixon Technologies, said, “We, together with our customer Compal Group, one of the world's leading manufacturers of smart devices, are excited to launch production of Google Pixel (smartphones) for ‘Google Information Services India Private Limited,’ a designated customer of Compal, a brand synonymous with innovation and excellence in technology."

"This is a significant opportunity for Dixon and marks an exciting step in our growth and commitment to delivering cutting-edge, high-quality products to global and domestic markets. Through this launch, Dixon shall be leveraging its state-of-the-art facilities, effective manufacturing techniques, and workforce, and this also highlights the immense potential of India’s electronics manufacturing sector in the global scenario," Lall added.

Further, the electronics manufacturing services firm expects to close the current fiscal year with a revenue of around ₹19,000 crore, a senior company official said on Thursday.

Dixon Technologies vice chairman and managing director Atul Lall said the company has plans to double its headcount over the next two years.

"In a short period of just 5-6 years, we have grown from ₹1,500 crore, and this year, we should close at around ₹19,000 crore. We have grown from 1,700 people to 27,000 people, and let me assure you that this is going to double in 2 years," Lall said.

About Dixon Technologies

Dixon Technologies (India) is one of the leading homegrown, design-focused, and solutions companies engaged in manufacturing products in the consumer durables, lighting, and mobile phones markets in India. 

Their diversified product portfolio includes (i) consumer electronics like LED TVs; (ii) home appliances like washing machines; (iii) lighting products like LED bulbs and tube lights, downlighters; (iv) mobile phones; (v) wearables; and (vi) refrigerators. 

Dixon also provides solutions in reverse logistics, i.e., repair and refurbishment services of LED TV panels.