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Systematix Research Report
Dixon Technologies India Ltd. continues to gain investors' attention due to regular news flows related to new businesses from existing and new customers, venture into new businesses and industry specific news related to display module and IT Hardware opportunities. While valuation at ~55 times FY27E P/E on current market price looks pricy after ~45%/180% surge in stock prices in the last six/12-months, continuous earnings upgrade on the back of new business opportunities has supported our positive stance on Dixon.
Maintain Hold with a revised target price of Rs 19,769 (60 times FY27E P/E, earlier Rs 16,474 at 50 times). Any slowdown in business and slow ramp-up in new ventures are key risks.
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