Buy Dixon Technologies; target of Rs 15,500: Motilal Oswal

About this update from Dixon Technologies (india) Ltd.

Motilal Oswal's research report on Dixon TechnologiesDixon Technologies’ (DIXON) recent tie-ups and MoU with HP and Asus for the production of PCs, notebooks, and laptops under IT hardware PLI 2.0 augur well for scaling up its IT hardware revenues from current levels. With these tie-ups, the company is now catering to 4 out of the top 5 players in laptops. These players form nearly 67% of the overall IT hardware market share in India. The company is also in discussion to enter the industrial EMS sector and manufacture electronic modules for the EV industry. As highlighted in our EMS thematic report (Report link), the company will continue to benefit from increasing market share in its key segments.OutlookWe also expect the company to continue benefiting from the new segments, backward integration, and the ODM mix improvement with near-term scale-up in revenues to come from mobile and EMS (including IT hardware, telecom hardware, etc). We maintain our estimates and roll forward our TP to INR15,500 on Dec’26 estimates. Maintain BUY.For all recommendations report, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.Dixon Technologies - 17092024 - moti

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