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Dixon Technologies (India) Limited
Corporate Presentation
October 2017
Dixon Technologies (India) Limited Corporate Presentation
Company Overview
2
Dixon Technologies (India) Limited Corporate Presentation
Dixon Overview – Largest Home Grown Design-Focused Products & Solutions Company
3
Business overview
Engaged in manufacturing of products in the consumer durables, lighting and mobile phones markets in India. Company also provide solutions in reverse logistics i.e. repair and
refurbishment services of set top boxes, mobile phones and LED TV panels
Fully integrated end-to-end product and solution suite to original equipment manufacturers (“OEMs”) ranging from global sourcing, manufacturing, quality testing and
packaging to logistics
Diversified product portfolio: LED TVs, washing machine, lighting products (LED bulbs &tubelights, downlighters and CFL bulbs) and mobile phones
Leading Market position1: Leading manufacturer of FPD TVs (50.4%), washing machines (42.6%) and CFL and LED lights (38.9%)
Founders: 20+ years of experience; Mr Sunil Vachani has been awarded “Man of Electronics” by CEAMA in 2015
Manufacturing Facilities: 6 state-of-the-art manufacturing units in Noida and Dehradun; accredited with quality and environmental management systems certificates
Backward integration & global sourcing: In-house capabilities for panel assembly, PCB assembly, wound components, sheet metal and plastic moulding
R&D capabilities: Leading original design manufacturer (“ODM”) of lighting products, LED TVs and semi-automatic washing machines
Financial Snapshot: Revenue, EBITDA and PAT has grown at a CAGR of 33.8%, 44.4% and 78.3% respectively from FY13 – FY17; ROCE for FY17 is 36.5%
Strong relationship with diverse top-tier customer base
Note: (1) As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”
Philips Lighting India Limited
Mitashi Edutainment Private Limited
Vijay Sales
Panasonic India Private Limited
Surya RoshniLimited
Intex Technologies (I) Limited
Haier Appliance (I) Private Limited
GioneeReliance Retail Limited
Abaj Electronics Private Limited
Dish Infra Services Private Limited
Dixon Technologies (India) Limited Corporate Presentation
Diversified Product Portfolio
4
Timeline of Product Evolution
Revenue mix by verticals
Products Offerings within Verticals
Provide one-stop-shop solutions to companies in the consumer durables, lighting and mobile phones industry in India
Regular addition of new products coupled with gradual scaling up in existing product categories
ConsumerElectronics
LED TVS – 19’’ to 65’’ and 4K2K technologyHome theatres – 2.1 and 4.1 channel
Lighting ProductsCFL Lamps, Ballast, Tube lights, Batten, CFL PCB, Downlighters,CFL/LED Drivers
Home Appliances Semi-automatic washing machine ranging from 6.2kg to 8.2kg
Mobile Phones Feature and smart phones (2G, 3G, 4G/LTE, VoLTE & CDMA)
Reverse LogisticsRepair and refurbishment – set top boxesRepair – mobile phones, LCD/LED TVs, LED panel, home theatre and computer peripherals & other devices
64%
28%
8%0.3%
65%
25%
9%1%
55%31%
9%
2% 3%
34%
22%8%
33%
3%
FY14 FY15 FY16 FY17
Note: (1) Executed a joint venture agreement to manufacture the mentioned products
Consumer electronics Lighting products Home appliances Mobile phones Reverse logistics
1994 2008 2016
2007 2010 2017
Colour TV
LCD TV
CFL Lighting,reverse logistics
LED TV,Washing Machines
Phones
CCTV(1), Digital Video Recorder(1)
Dixon Technologies (India) Limited Corporate Presentation
Key Milestones
5
Dixon has emerged as one of the leading design focused products and solutions company
1994 2017
1996 2016
2015
2014
2010
2009 & 2010
2008
Dixon has emerged as one of the leading design focused products and solutions company
Source: Frost & Sullivan Note: (1) DAPL – Dixon Appliances Private Limited; (2) DBMPL – Dixon Bhurji Moulding Private Limited; (3) PEPL – Padget Electronics Private Limited
Commencement of manufacture of
colour TVs
Establishment of
Noida I Facility
Commencement of commercial
manufacturing in the metal sheet and
moulding segments by DBMPL (erstwhile
subsidiary)
Commencement of manufacturing
of washing machines by DAPL
(erstwhile subsidiary)
Achieved more than INR 10 Bn of
revenue from operations on a
standalone basis
Acquisition of remaining
shareholding of DAPL & DBMPL
(erstwhile subsidiaries)
Commencement of manufacture of mobile
phones through JV, PEPL
Granted approval by the GoAP for setting up
a manufacturing facility in Tirupati
Entered the lighting products vertical
Private equity investment by IBEF and IBEF 1
Commencement of reverse logistics operations
Amalgamation of DAPL and DBMPL
Entering into a JV with Aditya Infotech Limited for the
manufacture of security systems including CCTVs and DVRs
Company got Listed on BSE & NSE
Dixon Technologies (India) Limited Corporate Presentation
Business Segments
6
Consumer
Electronics
MobilePhones
Lightingproducts
Reverse
Logistics
Home
Appliances
1
2
3
4
5
Dixon Technologies (India) Limited Corporate Presentation
Consumer Electronics Overview
7
Business segment overview Product portfolio
Growth is will be driven by further strengthening relationships with existing customers and increase product portfolio in ODM solution category
Key customers Financial performance (INR Mn) ODM Revenue share (%)Client concentration by
FY17 Revenue
Note: (1) Source: As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”
Panasonic65%
Reliance10%
Intex9%
Haier3%
Other13%
6,983
7,756 7,701
8,445
1.6% 1.7%2.1%
3.0%
FY14 FY15 FY16 FY17Revenue EBTIDA
9%
4%
9%
12%
FY14 FY15 FY16 FY17
Products: Manufactures complete range of LED TVs from 19’’ to 65 ’’ and 4K2K technology and Home theatres – 2.1 and 4.1 channel
Annual installed capacity of 1.2 Mn units – 10%(1) of the FY16 market size 62.60% capacity utilized during the fiscal year ended Mar 31, 2017
Our customers include private labels such as Reliance Retails, Vijay Sales and leading brands such as Haier and Intex
Backward integration into LED panel assembly (clean room), PCB assembly, back light unit and plastic moulding
Dixon’s FY16 production is 6x of the next competitor
1
Vijay Sales
Panasonic India Private Limited
MitashiEdutainment
Private Limited
IntexTechnologies (I)
Limited
Abaj Electronics Private Limited
Haier Appliance (I) Private Limited
Reliance Retail Limited
LED TVs
Dixon Technologies (India) Limited Corporate Presentation
EMS Opportunity for Consumer Electronics – Television Market
160.5 254.4 315 374.4 448.1 520.2 601693.8
777.15.0
8.010.0
12.014.5
17.019.8
23.1
26.2
FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21
Revenue (INR Bn) Volume (Mn)
8
FPD TV market to grow @ CAGR of 16%...
1.215%
6.785%
OEP by EMS OEP by OEM
Higher localization and domestic manufacturing to aid to growth opportunities for EMS/ ODM companies
….With increasing share of LEDs…
Growing trust and confidence in EMS and ODM players is leading shift towards outsourced manufacturing
25.0%8.0% 2.0% 0.2%
75%92% 98% 100% 100% 100% 100% 100% 100%
FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21
LCD LED
Source: As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”; OEP – Original Equipment Production; MEPL – Malhotra Electronics Pvt. Ltd.
EMS/ODM segment to grow @ CAGR of 55% (FY16 – FY21)
0.1 0.5 0.6 1.2
2.3
4.2
5.9
8.2
10.8
FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21
Dixon is the leader in the
FPD TV with a share of
50.4% in India and is
ranked number one. The
next competitor MEPL is a
distant second with a
share of only 8.4%.
0.650%
0.19%
0.18%
0.18%
0.18%
0.217%
Dixon MEPL SVL
Videotex Noble Others
OEP data segmented by OEM and EMS production ratio
Domestic Manufacturing FY16 – (Mn units) Production by EMS / ODM FY16 (Mn units)
FPD TV market by type (Volume)
(Mn Units)
CAGR: FY16-FY21Volume: 16.9%Value: 15.7%
Dixon Technologies (India) Limited Corporate Presentation
Lighting Products Overview
9
Business segment overview Product portfolio
Dixon serves top players of the market covering ~40%2 of the share and plans to increase product portfolio in ODM solution category
Key customers Financial performance (INR Mn) ODM Revenue share (%)Client concentration by
FY17 Revenue
Products: Manufactures CFL Lamps, Ballast, Tube lights, Batten, CFL PCB, Downlighters, CFL/LED Drivers
Annual installed capacity (Mn units): CFL lamps (48.0) & LED lamps (126.0) and LED drivers (6.0); Ballast (15.6); Others1 (64.8) 53.48% capacity utilized during the fiscal year ended Mar 31, 2017
Acquired design capabilities for CFL and LED lighting solutions from 0.5W to 20Wand include main electronic board designing, mechanical and light source and packaging designing
Backward Integration include sheet metal, plastic moulding and wound components
Exporting CFL/LED lamps to parts of Europe, Africa and Asia
Secured prestigious government tender for supply of 45 Mn LED lamps
Note: (1) Others include downlighters, tubelights and battens, CFL PCB, Deco lamp; (2) As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”
90%
10%
Philips Other
3,077 3,006
4,295
5,508
2.8% 3.0%
5.2%
3.2%
FY14 FY15 FY16 FY17
Revenue EBITDA
4%
12%
40%45%
FY14 FY15 FY16 FY17
LED bulbs 0.5W to 20 W; Downlighters 5W to 15W; Battens; T- LEDs 20W to 24W
CFL Lamps 5W to 27W
LED
Products
CFL Lamps
Indoor LED drivers 5W to 20W; Outdoor LED drivers 20W to 150W; Electronics lamp driver 10W to 40W
Lamp Drivers
2
Philips Lighting India Limited
Surya Roshni Limited
Dixon Technologies (India) Limited Corporate Presentation
227.448%
143.730%
104.722%
Tier I Tier II EMS
EMS Opportunity for Lighting Market
7 12 17 27 53 119
192 201
274
35 38 37 35 33
30
29 23
12
69 80 95 92 89
75
65 61
47
FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21
LED CFL Others
10
LED Lighting taking the lead in the lighting segment
Increasing Role of EMS in Indian Lighting Market
Government initiatives to boost LED growth
Currently, lighting forms a small part of the EMS companies overall business proportion, however, EESL led 7W/9W LED bulb demand has seen capacity addition among EMS companies
Source: As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”; OEP – Original Equipment Production
EMS/ODM segment to grow @ CAGR of 43.9%(FY16 – FY21)
Dixon is the single largest EMS player for
lighting products accounting for 38.9% of
the total lighting volumes manufactured
by EMS/ODM in FY 16
88.439%
68.430%
6328%
7.63%
Dixon NTL Compact Lamps Others
OEP data segmented by OEM and EMS production ratio, FY 16
Domestic Manufacturing FY16(Mn units)
Production by EMS / ODM FY16(Mn units )
(INR Bn)
National level projects for LED lights installation such as, Unnat Jyoti by
Affordable LEDs for All (UJALA), Domestic Efficient Lighting Programme (DELP),
Street lighting National Program (SLNP), etc.
Subsidy for setting up semiconductor manufacturing facility to support high
value addition activities
To promote and raise awareness, subsidized 9W LED bulb is available to
consumers for an amount of INR 10 per month, thus becoming an adoption
driver
(INR Bn)
34.8
214.4
FY16 FY21
CAGR FY16-21Total Market: 16.6%LED 59.2%
Dixon Technologies (India) Limited Corporate Presentation
Home Appliances – Washing Machine Overview
11
Business segment overview Product portfolio
Growth is will be driven by expanding product basket, deepening existing customer relationship and expanding customer base
Key customers Financial performance (INR Mn) ODM Revenue share (%)Client concentration by
FY17 Revenue
Products: Semi-automatic washing machine ranging from 6.2kg to 8.2kg
Installed annual capacity of 0.6 Mn units – ~ 18%(1) of the FY16 market size
68.12% capacity utilized during the fiscal year ended Mar 31, 2017
100% of the revenues are derived from ODM business model
Acquired in-house design capabilities to manufacture complete range of Semi-
automatic washing machines and include development of new design concepts
with additional features like magic filter, water fall, side scrubber and air dry
Also undertake in-house early life test of parts as well as complete washing
machines, water leakage testing and noise testing
Note: (1) Source: As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”
7.5 kg
6.5 Kg
21%
16%
16%
47%
Panasonic Haier Intex Other
849
1,067
1,306
1,880
6.3% 5.8%
10.7%
16.3%
FY14 FY15 FY16 FY17
Revenue EBTIDA
100% 100% 100% 100%
FY14 FY15 FY16 FY17
(1) Basis FY16 washing machine market size in volume as per F&S industry report; (2) Basis FY16 market share of SA washing machine OEM players
3
Panasonic India Private Limited
Intex Technologies (I) Limited
Haier Appliance (I) Private Limited
Dixon Technologies (India) Limited Corporate Presentation
0.613%4.1
87%
OEP by EMS OEP by OEM
EMS Opportunity for Home Appliances – Washing Machine Market
59.1 64 70.4 79.1 90.7 103.9 119.8139.2
163.73.8 4.1 4.55.0
5.76.5
7.48.5
9.9
FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21
Revenue (INR Bn) Volume (Mn)
12
Washing Machines market to grow @ CAGR of 15%…
Higher localization and domestic manufacturing to aid to growth opportunities for EMS/ ODM companies
…. With semi-auto washing machines being the dominant category
Commoditized Semi-automatic WM product having limited scope for design and innovation supports increasing reliance on EMS companies
Source: As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”; OEP – Original Equipment Production
EMS/ODM segment to grow @ CAGR of 41% (FY16 – FY21)
0.1 0.3 0.4
0.6 0.8
1.2
1.7
2.4
3.4
FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21
Dixon enjoys market
leadership in this segment
and currently commands
a share of 42.6% in the
WM EMS market
0.343%
0.228%
0.229%
Dixon Noble Others
OEP data segmented by OEM and EMS production ratio
Domestic Manufacturing FY16(Mn units)
Production by EMS / ODM FY16(Mn units)
(Mn Units)
56%29%
15%
Semi-automatic Fully automatic top load Fully automatic Front Load
Propellants for Semi-
automatic machines
The price conscious
nature of Indian
consumers
A large first time
user base
FY16 Volume market share by types CAGR FY16-FY21Volume: 14.6%Value: 15.6%
Dixon Technologies (India) Limited Corporate Presentation
Mobile Phones Overview
13
Business segment overview Dixon has set up a state of the art manufacturing facility
Growth is will be driven by deepening of relationships with existing key customers, migration towards PCB level assembly & backward integration for mobile phone chargers
Key customers Financial performance (INR Mn) Product portfolioClient concentration by
FY17 RevenueFeature phones Smart phones
44%
6%
50%
Panasonic* Karbonn Gionee**
200
8,107
FY14 FY15 FY16 FY17
Revenue
Manufactures handsets through 50:50 JV Padget Electronics Private Limited
Commercial production started in January 2016
Sold 3,476,423 mobile phones out of which 87.65% were smart phones for FY17
Portfolio: feature phones and smart phones (2G, 3G, 4G/LTE, VoLTE and CDMA)
Installed capacity: 10.1 Mn units 34.31% capacity utilized during the fiscal year ended Mar 31, 2017
9 step process starting from assembly, testing, inspecting to packaging and dispatching
Manufacturing requires controlled environment and testing requires special equipment and methodology
4
* * Includes sale of mobile phones to Jaina Marketing and Associates, supplier of Panasonic India Private Limited; ** refers to sales made to distributors of RStar Limited
Panasonic India Private Limited
Gionee
Dixon Technologies (India) Limited Corporate Presentation
34.440%
51.860%
OEP by EMS OEP by OEM
EMS Opportunity for Mobile Phones Market
14
Mobile phones market is growing @ CAGR of 20%...
Mobile Phone OEMs are increasingly outsourcing manufacturing to EMS partners
…With increasing share of Smartphones
OEMs will expect the EMS companies to invest in SMT level manufacturing, thus enhancing local value addition content
Source: As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”; OEP – Original Equipment Production
Opportunity for EMS in FY21
Flextronics, Dixon,
Foxconn, BGM, Million
Club and PGEL are the
major EMS players in
mobile phone
manufacturing in India
and they stand to gain
from the unfolding
opportunity
2.98.4%
1234.9%
7.521.8%
514.5%
720.3%
Dixon Foxconn Flextronics
BGM Others
OEP data segmented by OEM and EMS production ratio
Domestic Manufacturing Apr 17 – Dec 17 – (Mn)
Production by EMS / ODM Apr 17 – Dec 17 – (Mn)
Domestic production of smart phones will rise to
359.9 Mn units and that of feature phones will rise
to 221.4 Mn units by FY21
This translates into a total domestic production
volume of 581.3 Mn units. 66.0% of the
manufacturing market shall be with EMS players in
FY21, presenting an opportunity of 383.7 Mn units
in FY21 for the EMS industry
1,252.4 1,253.51,489.5 1,583.5 1,800.5
2,100.82,558.0
3,151.7
3,947.2
FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21
(INR Bn)
597.838%
985.662%
Feature Phones
Smart Phones
530.813%
3,416 87%
OEM Value (INR Bn) – FY16 OEM Value (INR Bn) – FY21
The demand for mobile phones is expected to grow from 282.2 million units
in FY16 to 509.0 million units in FY21
Dixon Technologies (India) Limited Corporate Presentation
Reverse logistics Overview
15
Business segment overview
Key customers
Product portfolio
Client concentration FY17
Growth will be driven by diversification into new product categories within IT peripherals and recently started repair of CCTVs
Range of services offered include
Repair and refurbishment – set top boxes
Repair – mobile phones, LCD/LED TVs, LED panel, home theatre and
computer peripherals & other devices
Focuses on B2B reverse logistics, which is in line with the strategy of building
relationships with brand owners and OEMs
Dixon enjoy 16.5% Market share in total reverse logistics for Set Top Box
Installed capacity of repair and refurbishment: 3,660,000 units p.a.
37.49% capacity utilized during the fiscal year ended Mar 31, 2017
Have 17 service centres in major cities in India
Financial performance (INR Mn)
Set top box
LED TV
MobileModem
Computer peripherals
28 184 391
627
20.7%
19.1%
18.1%
19.6%
FY14 FY15 FY16 FY17
Revenue EBTIDA
Top customer contributed to 60.15% in the fiscal
year ended March 31, 2017
5
Intex Technologies (I) Ltd
Dish Infra Services Private Limited
Dixon Technologies (India) Limited Corporate Presentation
Reverse Logistics Market Overview
16
Share of products in the Reverse Logistics Market Potential
The overall return rate for all products in the e-Commerce is in the range
of 15.0 to 20.0% and on an average INR 1.2 trillion of all the products are
returned annually
Selling refurbished products is beneficial for both OEMs and e-retailers.
On one hand it helps OEMs clear up the inventory faster, on the other, it
enables e-Commerce players offer more choices at lower costs
Importance of Reverse Logistics in e-commerce
Reliance of OEMs on 3rd Party Service Providers
Reverse logistics is not the core competence of most OEMs, they outsource this completely
Since reverse logistics is not the core competence of most OEMs, they
outsource this completely (from customer support to sale of the
refurbished product) to 3rd party service providers
End-to-end service providers stand to benefit as OEMs prefer to
outsource all activities to a reliable partner. Given the nascent state of
reverse logistics, there is a large opportunity waiting to be tapped. The
early movers will enjoy the advantage in terms of market penetration
10.7 11.5
14.816.6
19.2
22.3
25.5
31.5
38.3
0
5
10
15
20
25
30
35
40
45
FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21FPD TV Set Top Box Mobile Phones CP WM
CAGR %
Mobile 20.0
STB 14.4
FPD TV 15.7
WM 15.7
CP 15.3
Increasing sales
margins
Creating predictable cash flow
Reducing returns
management costs
Reducing leakage
Avoiding channel conflict
Generating higher asset
recovery rates from
timely disposition
Proper reverse logistics
management and partnership
with the Reverse logistic
partner can create immediate,
quantifiable and measurable
results that can act as a
catalyst for growth. These
results include:
Getting business
intelligence on trends in
returns and product faults
Reducing the
pain to the
OEM
(IN
R B
n)
Source: As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”
Dixon Technologies (India) Limited Corporate Presentation
Investment Highlights
17
Dixon Technologies (India) Limited Corporate Presentation
Investment Highlights
18
Dixon is a leading player in most verticals it operates in - enjoyed market leadership in manufacturing of FPD TVs, washing machines, LED and CFL lights in India in Fiscal 20161
Dixon maintains flexibility of manufacturing facilities by measures such as multiple-function training and standardization of equipment
Dixon is able to offer cost effective solutions because of large scale of operations, extensive experience in manufacturing, backward integrated manufacturing facilities, global sourcing and processes and availability of skilled and unskilled manpower at its manufacturing facilities
Dixon places a high emphasis on integrating services to continue to serve as an end-to-end product solutions provider and maintain an edge over competitors
Dedication to design, manufacturing and service infrastructure ensures customer satisfaction, foster customer loyalty and generate repeat business
Leading market position in key verticals
Flexible and cost-effective manufacturing capabilities
End to end solutions provider with dedicated R&D
capabilities
Dixon’s major customers are well respected players in one or more product categories offered by them - long term reputed players in the industry
Dixon has long-standing relationships with well-known customers across product verticals
Strong customer base will be a strong driver of Dixon’s future growth and help expand market share, develop new products and enter newer markets
Strong relationships with a diverse top-tier customer base
Dixon has a highly experienced and dedicated management team which enables it to capture market opportunities, formulate and execute business strategies, manage client expectations as well as proactively manage changes in market conditions
Experienced Promoter and seasoned management team
Track record of sustained growth in revenue and profitability - achieved a CAGR of 33.8% in revenue from operations (net) and 44.4% in EBITDA (for the last four fiscals ended March 31, 2017)
Dixon’s strong balance sheet gives customers the confidence that they will be able to support them in terms of both capabilities and capacities
Strong Financial Performance and stable cash flows
Note: (1) As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”
2
3
4
5
6
7
A booming consumption economy paving a way for the growth in the consumer electronics market, which is expected to boost local manufacturing, providing growth opportunities for EMS Industry
Industry growth drivers in place1
Dixon Technologies (India) Limited Corporate Presentation 19
Indian Consumer Electronics market stated to grow @CAGR of 17%
India has made quantum jumps in its global rankings to become a preferred destination for investments in electronics manufacturing
Key Growth Drivers
Continually spiralling replacement demand
Entry of numerous foreign and local brands
with wide range of offerings at varied price
points
Easy financing and zero down payment
schemes
Penetration of e-tail and emergence of
numerous delivery models
1620.5 1,791 2,165 2,364
2,718 3,055
3,615
4,326
5,236
FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21
Indian Consumer Electronics Market (INR Bn) India CE Market Revenue breakup (FY16)
67%
16%
7%
6%3%1%
Mobiles
TV
Set top Boxes
Digital Cameras
Washing MachinesOthers
INR 2,364 Bn
Source: As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”
Growing Demand in the Consumer Electronics Market in India is Expected to Boost Local Manufacturing1
Stable political government that assures global investors on
consistency in policies
Rising cost of labour in China while India is still at a lower end of this cost Creation of National Manufacturing
Zones (NMZ), Electronics
Manufacturing Clusters (EMC), close
coordination between centre and
states for investment promotion
Duties and tariffs to discourage imports and encourage domestic
value addition
High domestic demand for products and services; local needs
Digitalization that accentuates demand for select products
Investment by EMS companies
India is turning to be a favourable destination for electronics manufacturing –Driving factors for increasing preference of India for electronics manufacturing
Dixon Technologies (India) Limited Corporate Presentation 20
Indian EMS Industry to grow @CAGR >30% with Top 3 companies accounting 28.5%
ODM companies will become an indispensable element in the success plan of OEMs
Growth Drivers
EMS offerings are elevating from assembly only to design led manufacturing
149
192
250
325
428
FY16 FY17 FY18 FY19 FY20
(INR Bn)
Source: As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”; *Semi Automatic Washing Machine
Increasing share of tier-II players giving impetus to ODM
While the tier-I players with their financial strength rely on their product design and development, tier-II players are content with brand positioning and not on in-house product capabilities
This has given impetus to ODM companies which develop designs that become part of the tier-II players’ portfolio
SA WM* SA WM is absent from the portfolio of many global companies.
However to complete the offering these companies partner with ODMs instead of investing in R&D
FPD TV Basic features are already being supported by ODMs and this
trend will strengthen over the forecast period
LED Lamps Is currently being supported by OEM designs but given the high
level of dynamism and tremendous opportunity at the low end of the usage spectrum, ODM play is just a matter of time
Feature Phones
OEMs focus on smart phones while keeping this high volume segment serviced through EMS companies
ODM will play critical role across Consumer Electronics products
The Make in India initiative and the tax/ duty cuts have driven the growth of local manufacturing on a large scale
MSIPS, have been instrumental in encouraging new investment from EMS companies
EMS offer OEMs flexibility in product design updates, faster time to market, cost effectiveness, avoid manufacturing challenges
OEMs can focus on their core functions and avoid spreading their resources thin in their quest to achieve higher performance
Go
vern
me
nt
Po
licie
s
Incr
eas
ing
Ou
tso
urc
ing
fro
m
OEM
s
EMS Industry to Grow with the Growth in Local Manufacturing with ODM as the Key Differentiator for EMS companies1
India EMS Market shares (Revenue in INR billion)
12.6%
9.3%
6.5%
3.2%1.9%66.3%
Jabil
Dixon
SFO
Elin
PG Electroplast
Others
INR 148.8 bn
Dixon Technologies (India) Limited Corporate Presentation
Leading Market Position in Key Verticals
21
Dixon’s experience in manufacturing, successful backward integration and design capabilities, strong relationships with global suppliers and anchor customers has resulted in achieving leading position in key verticals
Industry Size in the EMS/ODM segments
CAGR FY16 –FY21
Dixon’s share of the total production by EMS/ODM players in India
2016 2021EProduction by
EMS/ODM players in India (in units)*
Dixon’s production (in units)
Capacity utilised (as a % of total installed
capacity) – FY16Market Share
FPD TVs(Units in
Mn)55.5%
Washing Machines(Units in
Mn)
41.2%
LED and CFL lights(INR Bn)
43.9%
1.2
10.8
0.6
3.4
34.8
214.4
1.2 Mn 0.6 Mn
0.6 Mn 0.3 Mn
227.0 Mn 88.4 Mn
Source: As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”
2
50.4%
42.6%
38.9%
48.09%
52.86%
54.00%
Dixon Technologies (India) Limited Corporate Presentation
Strong Relationships With A Diverse Top-tier Customer Base
Top five customers Products purchased
% of total FY17
revenue attributable
to such customer
Duration of
relationship with
the Company, not
less than
Panasonic India
Private Limited*
Consumer electronics 22.4%
4 years Home appliances 1.6%
Reverse Logistics 0.01%
Mobile phones 14.4%
Philips Lighting
India Limited Lighting 20.2%
8 years (includes
the supplies made
to Philips India
Limited)
Gionee** Mobile phones 16.6% 1 year
Intex Technologies
(I) Ltd.
Consumer electronics/
home appliances/
reverse logistics
4.4% 2 years
Reliance Retail
Limited
Consumer electronics
/ reverse logistics3.3% 1 year
22
…Leading to long term business relationships with customers
Global brandsPanasonic India Private Limited, Philips Lighting India Limited,Haier Appliance (I) Private Limited, Gionee
National brands Intex Technologies (I) Limited, Surya Roshni Limited
Domestic retail private labels
Reliance Retail Limited, Vijay Sales
Regional brands in Tier I and Tier II cities
Mitashi Edutainment Private Limited, Abaj Electronics Private Limited
Dixon’s customers are long term reputed players in the industry
High level quality adherence
Frequent quality audits
Never posed an “own brand” risk to customers
Dixon’s continuously focuses on value proposition for the customers…
Strong customer base will be a strong driver of Dixon’s future growth and help expand market share, develop new products and enter newer markets
**refers to sales made to distributors of RStar Limited
The long term relationships has enabled to continuously develop, diversify and improve product portfolio, plan production in anticipation of demand from
retail customers and ensure continuous focus on quality
Quality & Integrity
Scale Continuous Innovation
Cost effectiveness
Able to pass on the benefit of economics of scale to customers
Efficient and nimble supply chain to respond to demand fluctuations
Strong R&D team with proven expertise in developing own designs
ODMs have been approved by global quality teams at HQ
Strong sourcing skills and economies of scale
Effective backward integration
End-to-End manufacturing under one roof
Comprehensive value proposition has led to dominant share of business from reputed customers
3
Dixon Technologies (India) Limited Corporate Presentation
End to End Service Provider with Dedicated R&D Capabilities
23
High emphasis on integrating services to continue to serve as an end-to-end product solutions provider and maintain an edge over competitors
Dixon believes dedication to design, manufacturing and service infrastructure ensures customer satisfaction, foster customer loyalty and generate repeat business
Reverse Logistics Research and development
Backward integration Global sourcing
4
Started reverse logistics vertical as a step towards further
enhancing integrated services
Currently, this includes repair and refurbishment services for
STBs, LED panels and mobile phones
Ability to design and manufacture products like LED TVs and
mobile phones gives them an edge for repairs and
refurbishments of the same and similar products
R&D centre located at Noida has access to latest equipment such
as photometric system for light source and colour analysers
R&D team (22 employees as on 31 Jul’17) has the capabilities to
verify and develop conceptual designs received from customers
and convert such designs into deliverable products
Increase in the scale of operations over the years has enabled
Dixon to have access to and establish continuous relationship
with domestic and international suppliers
Benefits of placing large orders with suppliers allows Dixon to
source at competitive prices thereby improving margins and
ability to win further business
Gradually backward integrated its services by setting up in-
house manufacturing of plastic moulding for lighting products,
LED TVs and washing machines; wound components for lighting
products and back light unit clean room for LED TVs
Provides the benefit of greater control on the manufacturing
process, quality and the corresponding benefits of cost
efficiencies thereby improving margins
Development Excellence Award (semi-automatic washing machine) from Panasonic India Private Limited in 2016
Dixon Technologies (India) Limited Corporate Presentation
ODM Business Model
R&D has Enabled Dixon Develop and Design Products In-house – An ODM Player
Dixon manages the entire manufacturing cycle of a product from initial stages of designing to
planning and sourcing raw material and components
24
ODM Business Model – Key Steps Increasing ODM share in the overall business
Share of ODM by Business Verticals
ODM model entails higher R&D investment and also higher working capital, but provides higher margins and return ratios making it a very attractive business model
4
Business Vertical FY14 FY15 FY16 FY17
Home appliances 100.0% 100.0% 100.0% 100.0%
Lighting products 3.5% 12.4% 40.2% 45.4%
Consumer electronics 8.6% 4.2% 9.1% 11.8%
1,558 1,768
3,734
5,374
14%15%
27%
22%
FY14 FY15 FY16 FY17
Revenue from Operations (Net) (INR Mn)
ODM % of Revenue from Operations (Net)
Identification
Design & development
Quality control &
testing
Field trails & demand projection
Production planning
Product profile of customers reviewed
New products to be developed identified based on need
An agreement for product development arrived at after discussing various proposals with customers
New product is designed and developed based on customer requirements
R&D, quality, production & procurement teams collaborate to develop product
Production and material procurement plan arrived on the basis of customer projections
Trail lot is produced and sent for field testing. Any fine tuning, if required is done at this stage
Once customer approves, quality estimates are arrived at and handed to procurement team
Developed product is tested & qualified internally by Quality & Development team
Product is sent to third party lab for testing
Product is also sent to customer for testing & approval
Dixon Technologies (India) Limited Corporate Presentation
Flexible and Cost Effective Manufacturing Capabilities
25
Dixon maintains flexibility of manufacturing facilities by measures such as multiple-function training and standardization of equipment
Maintains flexibility in manufacturing through surface mounting technology lines, which can be used to manufacture diverse products
Noida Facility Unit I Unit II Unit III
ProductsLED bulbs, LED drivers, PCB assembly of CFL lamps
Mobile phonesCFL lamps and reverse logistics
Type and Area Leased 3,900 sq. m. Leased 1,950 sq. m. Leased 7,686 sq. m.
Dehradun Facility Unit I Unit II Unit III
ProductsLED TVs, Lighting products
Semi- automatic washing machines
Backward integration of plastic parts and sheet metal components
Type and Area Owned 16,188 sq. m. Rented 3,342 sq. m. Rented 7,689 sq. m.
ISO 9001:2008
ISO 14001:2004
Control on manufacturing processes, robust engineering and quality assurance systems
Thorough pre-manufacturing checks and balances - prevents or, where necessary, uncovers defects which ensures that time and resources are not wasted in the production of defective products
Dixon is able to offer cost effective solutions to its customers due to:
In-house capabilities for plastic mould and coil manufacturing
Experience in large scale of operations
Backward integrated manufacturing facilities
Global sourcing and processes
Availability of skilled and unskilled manpower at manufacturing facilities
Ability to deliver quality productsCost-effective solutions
5
Noida
Dehradun
Tirupati
Manufacturing facility
Head Quartered
Expansion of industrial footprint to penetrate the markets in South India and to provide easier access to the
exports market
Dixon Technologies (India) Limited Corporate Presentation
Strong Financial Performance and Stable Cash Flows
26
Revenue from Operations (Net) (INR Mn)
PAT(1) margins
Increasing ODM share in the overall business
Return Ratios
EBITDA(1) margins
Dixon’s financial stability and positive cash flow from operations enable them to meet the present and future requirement of customers
Note: (1) The drop in EBITDA and PAT margin for FY17 is primarily driven by growth in the mobile segment having lower profit margin; (2) The drop in 9M FY17 RONW is primarily driven by conversion of CCD and issue of ESOP
shares
10,937 12,013
13,894
24,568
FY14 FY15 FY16 FY17
14% 15%
27%
22%
FY14 FY15 FY16 FY17
ODM as a % of revenues from operations (net)
294 340 604
922
2.7% 2.8%
4.3%
3.8%
FY14 FY15 FY16 FY17
EBITDA (INR Mn) EBITDA margin
18.4%
14.0%
34.7%
25.5%
FY14 FY15 FY16 FY17
RONW(2)
14.7% 16.0%
27.9%
36.5%
FY14 FY15 FY16 FY17
ROCE
135 119
426504
1.2%1.0%
3.1%
2.0%
FY14 FY15 FY16 FY17
PAT (INR Mn) PAT Margin
6
Dixon Technologies (India) Limited Corporate Presentation
Strong Financial Performance and Stable Cash Flows
27
Cash Flow from Operations (INR Mn)
Total Debt(1) to EBITDA
Total Debt and Total Debt to Equity Ratio(1)
Working Capital Days (2)
Dixon’s strong balance sheet gives their customers the confidence that they will be able to support them in terms of both capabilities & capacities
6
104
445 423
546
FY14 FY15 FY16 FY17
869 799 771
429
1.2
0.9
0.6
0.2
FY14 FY15 FY16 FY17
Total Debt (Mn) Debt/ Networth
3.0
2.3
1.3
0.7
FY14 FY15 FY16 FY17
Total Debt/ EBITDA times
14
10 10
8
FY14 FY15 FY16 FY17
Note: (1) Total Debt is long term borrowings plus short term borrowings; 2) Working capital days = (Trade receivables + inventories – trade payables)/ revenue from operations (net)*365
Dixon Technologies (India) Limited Corporate Presentation
Experienced Promoter and Seasoned Management Team…
28
Senior management possess extensive industry and management experience
Highly experienced and dedicated management team enables to capture market opportunities,formulate and execute business strategies, manage client expectations as well as proactively manage changes in market conditions
Post Graduate from BITS Pilani, Atul has more than 25 years of experience in the EMS industry
He has been with DIXON since its inception is responsible for our Company’s overall business
operations
Served as a member of the Technical Evaluation Committee for Electronic Manufacturing
Services under M-SIPS (Electronic Manufacturing Services-EMS) constituted by the DeitY and
served as a representative of ELCINA on the Committee for Reliability of Electronic and
Electrical Components and Equipment (LITD. 02) of the BIS
Authored the book, ‘Gita and India Inc.’
Founder of Dixon; associated since inception; qualified MBA
“Man of Electronic -2015” by CEMA; “Outstanding Citizen Award 2012” by the Sindhi
Chamber of Commerce and one of the “Top 100 people influencing EMS” in 2012 by
ventureoutsource.com
Vice President, Consumer Electronic and Appliances Manufacturer Association
Previously held positions like chairman of the Electronics and Computer Software Export
Promotion Council of India and Co-Chair of the CII ICTE CommitteeSunil VachaniPromoter & Executive Chairman
Atul B LallManaging Director
Key managerial team has an average experience of over 2 decades, comprises of experienced professionals with extensive experience in their domains
Management fosters the culture of entrepreneurial spirit
Each product vertical being managed by experienced and knowledgeable heads
Awards and Recognition
‘Development Excellence Award (semi-automatic washing machine)’ from Panasonic India Private Limited in 2016
‘Best OEM Award 2011’ awarded to the Company by CEAMA
7
Dixon Technologies (India) Limited Corporate Presentation
… Supported by Industry Veterans
29
Promoter of Dixon and has been associated since inception
Has over two decades of experience in the EMS industry and has held positions like chairman of the Electronics and Computer Software Export Promotion
Council of India and Co-Chair of the CII ICTE Committee
Currently, is the vice president of Consumes Electronic and Appliances Manufacturer Association (CEAMA)
Has over 25 years of experience in EMS Industry
Has served as a member of the Technical Evaluation Committee for Electronic Manufacturing Services under M-SIPS (Electronic Manufacturing Services-EMS)
Holds a master’s degree in management studies from the Birla Institute of Technology and Science, Pilani
Superannuated as Scientist 'G’ from the Department of Information Technology (presently knowns at MeitY)
Has over 32 years of experience in the electronics industry
Currently a director on the board of Onicra Credit Rating Agency of India Limited and Onicra Credit Information Company Limited.
Holds a degree of doctor of philosophy (science) from the University of Bombay
Founding president of the India Electronics & Semiconductor Association
22 years of experience in electronics engineering
Completed the global leadership in healthcare from the University of Michigan Business School and is a British Chevening scholar in Women in Leadership and
Management from the University of Bradford
Holds a bachelor’s degree in arts from Bangalore University and a post-graduate diploma in management from T.A. Pai Management Institute, Manipal
Associated with Semiconductor Complex Limited, a Government of India Enterprise for 26 years and retired as its chairman cum managing director in August
2005
Member of the working group on development of R&D and IP in electronics formed at DeitY
Holds a degree of doctor of philosophy from the Indian Institute of Science, Bangalore
Mr. Sunil Vachani
(Executive Chairman)
Mr. Atul B. Lall
(Managing Director)
Dr. Ramesh Chandra
Chopra (Non-executive
independent Director)
Ms. Poornima Shenoy
(Non-executive
independent Director)
Mr. Manuji Zarabi (Non-
executive independent
Director)
Experience of more than 28 years in finance functions encompassing various aspects of finance and corporate functions
In past, associated with leading infra companies as a Director and currently is a a non-executive director of B.M.M. Ispat Limited and New Habitat Housing
Finance and Development Limited and a director of Vision One India Consulting Services Private Limited.
FCA, ACS and also holds a post graduate diploma in business administration from Symbiosis Centre for Distance Learning
Mr. Manoj Maheshwari
(Non-executive
independent Director)
7
Dixon Technologies (India) Limited Corporate Presentation
Growth Strategies
30
Dixon intends to build on its existing strengths of product design, manufacturing and service to enhance their position as the ODM provider of choice for top-tier brands
Development of our service offerings into verticals such as reverse logistics which provides high return on capital employed and
has a high potential for growth
Expand existing relationships with customers into other product verticals
Expansion of industrial footprint into new geographies and setting up of new manufacturing facilities, especially in South India
Continue to focus on ODM model which help in improving overall profitability as the company is able to control all aspects of
the manufacturing cycle
Continue to strengthen existing product portfolio and diversify into products with attractive growth and profitability prospects
Continue to be the most cost-efficient player in each of the product verticals through initiatives like having large manufacturing
capacities, backward integration and being a sizeable player in the industry
Dixon Technologies (India) Limited Corporate Presentation
Appendix
31
Dixon Technologies (India) Limited Corporate Presentation
Restated Consolidated Financials – Key Financial Metrics
Particulars (INR Mn) FY14 FY15 FY16 FY17
Profit & Loss
Revenue From Operations (Net) 10,937 .19 12,013.39 13,894.17 24,567.6
EBITDA 293.62 339.92 604.43 922.40
EBITDA % 2.68% 2.83% 4.34% 3.75%
PAT 135.10 118.56 425.67 503.77
PAT % 1.24% 0.99% 3.06% 2.05%
Balance Sheet
Net Worth 735.95 848.37 1,228.14 1,976.97
RONW % 18.36% 13.98% 34.66% 25.48%
ROCE% 14.73% 15.97% 27.92% 36.53%
Cash Flow Statement
Cash flow from Operations 103.96 445.00 422.54 546.11
Cash flow from Investments 12 .43 (222.69) (216.11) (431.50)
Cash flow from financing activities (127.58) (222.69) (200.55) (104.22)
32
Note: (1) The drop in EBITDA and PAT margin for FY17 is primarily driven by growth in the mobile segment having lower profit margin; (2) The drop inFY17 RONW is primarily driven by conversion of CCD and issue of ESOP shares
Dixon Technologies (India) Limited Corporate Presentation
Restated Consolidated Financials – P & L Statement
Particulars (INR Mn) FY13 FY14 FY15 FY16 FY17
Revenue From Operations (Net) 7,669.24 10,937 .19 12,013.39 13,894.17 24,567.59
Other Income 11.18 33.74 17.86 17.57 15.04
Total Income 7,680.43 10,970.93 12,031.25 13,911.73 24,582.63
Cost of Material Consumed (6,606.83) (9,954.50) (10,952.85) (12,284.41) (22,056.09)
Change in Inventories of FG, WIP,SIT 10.22 (6.98) 108.84 161.34 255.27
Employee benefit expenses (207.83) (322.66) (368.59) (549.57) (640.09)
Other expenses (663.60) (393.16) (478.72) (634.67) (1,219.32)
Depreciation and Amortisation Expenses (47.03) (53.37) (68.97) (84.38) (106.35)
Finance Cost (114.73) (112.27) (98.45) (131.07) (127.65)
Total Expenses (7,629.81) (10,842.96) (11,858.74) (13,522.75) (23,894.23)
Profit before tax, exceptional items, minority interests and associates
50.62 127.97 172.51 388.98 688.41
Tax (15.29) (34.36) (42.15) (80.33) (184.64)
Exceptional items, minority interests and associates 14.47 42.28 (11.79) 117.02 0.00
PAT 49.80 135.90 118.56 425.67 503.77
% margin 0.6% 1.24% 0.99% 3.07% 2.05%
33
Dixon Technologies (India) Limited Corporate Presentation
Restated Consolidated Financials – Balance sheet
Particulars (INR Mn) FY13 FY14 FY15 FY16 FY17
Sources of Funds:
Shareholders Funds 615.47 736.11 848.47 1,228.15 1,977.33
Minority Interest 11.16 20.87 29.85 –
Other Non current liabilities 46.49 73.85 78.86 95.71 141.64
Long Term Borrowings 455.25 398 407.5 521.38 98.08
Short Term Borrowings 423.52 470.56 391.22 249.14 330.64
Other Current Liability 1,214.39 1,213.12 1,487.59 2,077.88 5,442.63
Total Liabilities 2,766.28 2,912.51 3,243.49 4,172.26 7,990.32
Application of Funds:
Non current Assets 850.66 842.17 970.05 1,235.97 1,391.01
Non Current Investments 65.49 63.2 60.34 1
Long Term Loans and Advances 131.04 148.31 147.83 199.7 223.31
Trade Receivables 7.83 16.8 18.45 22.72 8.79
Other Non Current Assets 5.63 0.06 0 0.01 0.27
Current Assets 1,705.62 1,841.97 2,046.81 2,712.86 6,366.93
Total Assets 2,766.28 2,912.51 3,243.49 4,172.26 7,990.32
34
Dixon Technologies (India) Limited Corporate Presentation
Restated Consolidated Financials – Cash Flow Statement
Particulars (INR Mn) FY13 FY14 FY15 FY16 FY17
Profit before tax 50.62 182.26 172.51 506.01 688.41
Depreciation 47.03 53 .37 68.97 84.38 106.35
Other adjustments 130.56 92.84 99.05 25.69 140.66
Operating Profit / (Loss) before WC changes 228.21 275.10 340.53 616.08 935.42
Adjustment for working capital changes 234.49 (196.38) 145.47 (106.95) (234.71)
Tax Paid (13.71) 25.24 (41.00) (86.58) (154.61)
Net Cash from Operating Activities 448.99 103.96 445.00 422.54 546.11
Purchase of Fixed assets (including CWIP) (87.48) (84.58) (220.74) (270.26) (391.11)
Others 1.18 97.01 (1.95) 54.15 (40.39)
Net Cash from Investing Activities (86.30) 12 .43 (222.69) (216.11) (431.50)
Increase/ (Decrease): Equity Share Capital 60.96
Increase/ (Decrease): Long term borrowings (54.05) (54.61) (33.74) 115.28 (35.99)
Increase/ (Decrease): Short term borrowings (196.84) 47 .04 (79.33) (142.08) 81.50
Others (116.28) (120.01) (109.62) (173.75) (210.69)
Net Cash from Financing Activities (367.16) (127.58) (222.69) (200.55) (104.22)
Net Cash Surplus/ (Deficit) (4.47) (11.19) (0.38) 5.88 10.38
Opening balance 26.92 22.45 11.26 10.88 16.76
Closing balance 22.45 11.26 10.88 16.76 27.14
35
Dixon Technologies (India) Limited Corporate Presentation
Organization Structure
36
As on July 31, 2017, the company has 682 permanent employees and also employed around 4,030 contract labour at their manufacturing facilities
Senior management team possesses extensive industry and management experience; each of them has an average experience of over 20 years
Mr. Saurabh Gupta
(CFO)Mr. Kailash Sharma
(VP - Stores)
Mr. Sunil Vachani (Chairman)
Mr. Vineet Mishra
(COO – Lighting)
Mr. Atul B. Lall(Managing Director)
Mr. Ashish Kumar
(Company Secretary and
Compliance officer)
Mr. Pankaj Sharma
(COO – Consumer
Electronics and Mobile
Division
Mr. Vinay
Pradhan
(VP Human
Resources)
Consumer
Durables, Mobiles
& New Projects
Finance and Strategic
Planning and Investor
Relations
HRD &
AdminLighting
Servicing
Corporate Affairs
and legal
ComplianceHome &
CFL Export
Home
Appliances
Mr. Rajeev Lonilal
(COO – Home
Appliances)
Mr. Uday Pandey
New
project
and
Governm
ent
liaisoning
Mr. Gopal
Jagwan
Dixon Technologies (India) Limited Corporate Presentation
Our Management – Select KMPs and Senior Management
37
28 years of experience in factory operations, manufacturing, supply chain, global sourcing and business development
Formerly worked with Bigesto Foods Private Limited, Satkar Exports, Bestavision Electronics Limited, Samsung Co. Limited, Jain Tube Company
Limited and Shirllon Co
Responsibilities includes over-seeing operations of the verticals
22 years of experience in electronics engineering
Formerly worked with Samsung India Electronics Limited, Hotline Witties Electronics Limited and Onida Savak Limited
Responsibilities include overseeing the overall manufacturing efficiency, quality, service and cost efficiency management of resources
30 years of experience in plastics moulding
Formerly worked with Dipty Lal Judge Mal Private Limited, Nouble Moulds Private Limited, Evershine Moulding Private Limited, Ever Shine Plastic
Industries, Essen Fabrication & Engineering Co. Private Limited and Shree Krishna Keshav Lab Limited
Responsibilities include management of resources in the home appliances vertical
Mr. Pankaj Sharma
(Chief Operating Officer-
Consumer Electronics & Mobile )
Mr. Vineet Kumar
(Chief Operating Officer-
Lighting)
Mr. Rajeev Lonial
(Chief Operating Officer – Home
Appliances)
15+ experience in national and international regulatory and compliance.
He has formerly worked with DLF Universal Limited, Damas International Limited, Tecom Investments FZ LLC and Narayana Hrudayalaya Limited
He is a fellow of Institute of Company Secretaries of India and has done executive programme in business management from IIM, Calcutta.
He leads the secretarial, legal, regulatory and corporate governance compliances of our Company.
Mr. Ashish Kumar
(Company Secretary and
Compliance Officer)
Mr. Saurabh Gupta
(Chief Financial Officer)
14+ years of experience in Corporate Finance, Strategic Planning & Investor Relations
Formerly worked with PVR Ltd., Unitech & Mckinsey
He holds MBA (Executive Program ) from MDI Gurgaon. He is also an associate member of ICSI and ICAI.
He leads the finance and accounts team and is responsible for all the activities pertaining to accounts, treasury management and MIS
He Leads the Strategic Planning & Investor Relations functions of the Company
Dixon Technologies (India) Limited Corporate Presentation
Our Management – Select KMPs and Senior Management
38
He has more than 25 years of experience in HR and IR.
Formerly worked with Bajaj Group, Alchemist Limited, Carlson Hospitality Worldwide and Reliance Industries Limited.
He holds a bachelor’s degree in economics and has completed a post graduate diploma in management - human resources from IIM, Calcutta .
He leads the HR, admin, liaison and industrial relations of our Company.
He has more than 30 Years experience in Retail Industry
Formerly worked with Weston, Sony and Samsung.
He holds a bachelor’s degree in Science from Hindu College ( DU) , has done Post Graduation in Marketing management from ‘Bhartiya Vidya
Bhawan and Post Graduation in International Marketing from IIFT, New Delhi.
He Leads the Business Development for India and International Markets.
Mr. Vinay Pradhan
(Vice President – Human
Resources )
Mr. Muneesh Dhawan
(Vice President –Business
Development )
Mr. Gopal Jagwan
(New project and Government
liaisoning)
He has formerly worked with Ballarpur Industries Limited, Pearl Global Limited and Vineetaz Exports Private Limited and is a fellow of the Institute of
Chartered Accountants of India
17+ years of experience in the field of finance
He heads “New project and Government liaisoning” of our Company
Mr. Kailash Chander Sharma
(VP – Stores)
+32 years of industry experience in store, supply chain and material management
Holds a bachelor’s degree in arts from Punjab University
Responsibilities include leading the store, supply chain and material for Dixon
Dixon Technologies (India) Limited Corporate Presentation 39
Thank You