DIXON / Q3-FY25 / 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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PositiveQ3-FY25 · 2025-01-30Back to quarter ↗

Questions audited

12

Answered directly

63%

Numeric claims

4

Consistency

contradicted

Question ledger

What was answered, and how?

Surya Bhatia · AM Unicorn Professional Pvt. Ltd.

direct

Smartphone volumes in Q3, split by iSmartu, Samsung, and non-Samsung.

In Q3, we did a volume of almost 8.3 million. And in the first nine months, we have done a volume of almost 21-odd million, 20.5 million too. And Samsung is over and above this volume.

Surya Bhatia · AM Unicorn Professional Pvt. Ltd.

evasive

Market size and players in camera modules, and Dixon's plans.

We are pursuing camera modules as a part of a component strategy. We are in discussions with the potential partners... It's still in the works.

Vikram Srivastava · PhillipCapital

declined

PLI sharing with Vivo in the tie-up.

So that's something commercially confidential. It's not really possible to share those contours at this point.

Vikram Srivastava · PhillipCapital

partial

Competition post mobile PLI ending in FY26.

Our business has grown from INR 5 million crores to almost INR 28 million crores... The order book we have is that it should be enhancing to almost INR 40 million crores to 45 million crores...

Vikram Srivastava · PhillipCapital

direct

Expected volumes from Oppo under long-term deal.

So we feel that in the next fiscal, we should be somewhere around INR 7 million crores to INR 8 million crores, something like that.

Aditya Bhartiya · Investec

direct

Opportunity size and rationale for KHY acquisition.

We are targeting to export almost 3 million phones. It is going to generate a revenue for us of almost INR 1,500 crores to INR 1,800 crores.

Aditya Bhartiya · Investec

partial

CapEx and customer offtake for display fab.

The CapEx is to the tune of around $3 million. ... It's slightly premature. I don't want to share more details as of now.

Madhav Marda · Fidelity

evasive

Risk of brands diversifying away from Dixon to other vendors.

It's for us in Dixon to be most efficient. It's for us to be in Dixon to be absolutely customer-obsessed and create value for him.

Siddhartha Bera · Nomura

direct

Smartphone volumes for the quarter and next year outlook including Vivo.

We have done a volume of almost 20.5 million. ... we should be around 30-odd million by the end of this financial year.

Indrajit Agarwal · CLSA

direct

TV volumes and revenue for the quarter.

TV volumes are definitely down. So we did a volume of 3.8 lakhs in this quarter. ... the TV revenues for quarter three was around 470-odd crores.

Pulkit Patni · Goldman Sachs

direct

PLI incentives booked vs received, and total receivables.

To the extent of almost INR 200-odd crores, yeah, if you include all the four PLIs, excluding IT hardware. ... Receivables number will be almost INR 1,000-odd crores.

Bhoomika Nair · DAM Capital

partial

Display fab revenue, margin, and return ratios.

It can generate a revenue of almost $1.7 billion to $2 billion. It has a very decent operating margin. ... It will be double-digit margins.