DIXON / Q1-FY24 / claim-ledger

Audit the questions that mattered.

Dixon Technologies (India) · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ1-FY24 · 2023-08-10Back to quarter ↗

Questions audited

11

Answered directly

73%

Numeric claims

2

Consistency

contradicted

Question ledger

What was answered, and how?

Dhananjai Bagrodia · ASK Investment Managers Limited

partial

Reason for margin dip in Q1 across segments

There's no particular reason... Q1 is generally slants interest, slightly slower product for the consumer durables business. It's majorly an investment goes into the AC business, the cooler business. It starts to pick up in Q2.

Rahul Gajare · Haitong Securities

partial

Roadmap for Xiaomi manufacturing, volumes, CapEx, and Google Pixel

On Xiaomi side, manufacturing creation is on. Target to start production mid-September. Initial plan to reach 500,000 per month, then scale to 1 million. On Google Pixel, confidentiality clauses, difficult to share details.

Aditya Bhartia · Investec

partial

Opportunity size from Itel and scope of manufacturing

It's computer template. Itel is the largest manufacturer of PC phones in India. 100% of PC phones and smartphone next year. Large facility around 5,000 phones.

Natasha Jain · Nirmal Bang

evasive

Reason for Xiaomi shift from competitor to Dixon

I think it's a combination of very many things. It's a combination of a better commercial case, and also between capability and delivery.

Ankur Sharma · HDFC Life

direct

Demand environment and order books for festive season

It's a mixed bag. TV and lighting demand flattened. Washing machine order book extremely healthy. Mobile order book extremely healthy. Wearable devices demand extremely good.

Dhruv Jain · Ambit Capital

direct

Which customers fall under PLI scheme?

Everything will be part of the PLI scheme except for the Samsung smartphone business that we do. Apart from that, everything falls under the PLI.

Kshitiz Jain · Morgan Stanley

partial

Mobile revenue guidance and Xiaomi annual volumes

We don't give any specific guidance for mobile as a vertical. On Xiaomi, starting with 500,000 a month, increasing to 0.8-1 million a month, linked to execution.

Bhoomika Nair · DAM Capital Advisors Limited

direct

Outlook for lighting segment and pricing erosion

Market subdued. Price erosion of almost 30% on LED bulbs. Shifting to downlighters and ropes/strips. Ropes/strips can be 80-90% growth business.

Abhishek Singh · DSP

direct

Competitive intensity in TV and lighting, and market share loss

No significant loss in TV. Some competitive intensity from a multinational. In lighting, competitive intensity increased, small impact on market share on tube lights.

Alok Deshpande · Nuvama Institutional Equities

direct

Margin profile for new mobile production ramp-up

The margin profile of the business will be somewhere in the range of 2.3%-2.7%, something like that.

Amar Singhania · Nippon India Asset Management

direct

Status of JV with Tinno Group and timeline

Filer application to government for BIS Phase 3 approval. Still not got that through. Waiting for clearance to start the project.