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DIXON Share Price Target

Dixon Technologies (India) Ltd.
Sector: Consumer Durables
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DIXON Share Price *
2,650 +95.7 (3.75%)
* (quote may be delayed)
DIXON Share Price Forecast - Consensus
No. of reports in last year
6
No. of analysts
3
Average Consensus Forecast
2897.50
Consensus Potential
11.22%

DIXON Share Price Target - Broker Reports - 2019

Nirmal Bang
12-Sep-19
Price @ Call: 2564.15
Target: 3000
ACCUMULATE
Dixon had reported highest ever quarterly sales in 1QFY20 at Rs11.5bn. The management expects strong growth traction to continue, driven by Consumer Electronics and Lighting segments. Achieving scale, migration to ODM, new customer acquisition and backward integration are key focus areas for Dixon to drive growth. To enhance capacities, it has outlined FY20E capex of Rs600mn-Rs650mn. We roll forward our valuation to September 2021E earnings and maintain Buy rating on Dixon with a revised target price of Rs3,000 (Rs2,925 earlier) based on P/E of 28x.
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Nirmal Bang
14-Aug-19
Price @ Call: 2303.97
Target: 2925
BUY
Achieving scale, migration to ODM, new customer acquisition and backward integration are key focus areas for Dixon which will drive growth. To enhance capacities, it has outlined FY20E capex of Rs600mn-Rs650mn. The cash conversion cycle reduced from 7 days in FY19 to negative 3 days in 1QFY20, leading to healthy cash flow of Rs300mn. We have tweaked our estimates and retain Buy rating on the stock with a revised target price of Rs2,925 (from Rs3,090 earlier) based on 30x FY21E earnings.
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Nirmal Bang
27-May-19
Price @ Call: 2423.95
Target: 3090
BUY
With a clear focus on achieving scale, migration to ODM, new customer acquisition and backward integration, Dixon is aiming for 25%-30% revenue growth in FY20 along with commensurate improvement in the margin profile. FY19 capex stood at Rs680mn while FY20E capex outlay is Rs600mn-Rs650mn (excluding Rs300mn capex earmarked for top-load washing machine). We have cut our earnings estimates for FY20/FY21 by 11%/10%, respectively. We have retained Buy rating on the stock with a revised target price of Rs3,090 (from Rs3,190 earlier) based on 30x FY21E earnings.
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Investec Securities
27-May-19
Price @ Call: 2474.88
Target: 2680
BUY

Nirmal Bang
16-Apr-19
Price @ Call: 2336
Target: 3190
BUY

Dolat Capital
4-Feb-19
Price @ Call: 2261.47
Target: 2500
ACCUMULATE

DIXON Share Price Target - Broker Reports - 2018

Elara Capital
27-Aug-18
Price @ Call: 2610
Target: 3475
BUY

Nirmal Bang
23-Aug-18
Price @ Call: 2515
Target: 3285
BUY

Investec Securities
7-Aug-18
Price @ Call: 2857.55
Target: 3460
BUY

Dolat Capital
6-Jul-18
Price @ Call: 2886.85
Target: 3430
ACCUMULATE

  • DIXON - Share Price Target Potential

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    BrokerageTargetPotential
    Nirmal Bang3,00014.86%
    Investec Securities2,6804.69%
    Dolat Capital2,500-2.17%