ICICI Direct's research report on Dixon Technologies (India)
Dixon Technologies is India’s leading electronic manufacturing (EMS) provider and one of the largest beneficiaries of the government’s PLI scheme. Dixon operates in both original equipment manufacturing (OEM) and original design manufacturing (ODM) • Strong RoE, RoCE at ~20%, ~24%, respectively (three year’s average).
We maintain our BUY rating on the stock. We value Dixon at 50x P/E on FY24E EPS with revised target price of Rs 4200/share.
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