23-Sep-2024: Pharma
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12-Sep-2024: Dixon - IT hardware
Extract from article in Business Standard Dixon can target roughly 60 per cent of India's addressable IT hardware market with these contracts. Dixon targets 48,000 crore in revenue from IT hardware under the PLI scheme over the next six years. This implies it hopes to achieve about 17 per cent market share by 2030. Given that the IT PLI regulations need incremental backward integration, this could be return-dilutive over the short term. It will need to continue capex to meet the PLI targets. Even so, on volume increases alone, FY26-27 estimates will be hiked by 3-4 per cent. The addition of HP as a client was expected since Dixon in its Q1FY25 earnings call indicated signing up two new customers. It will need to add one large customer ideally to move into server manufacturing. The revenue impact of signing HP will largely be visible from FY26 onwards. Dixon plans to achieve ₹48,000 crore in revenue over six years, with a cumulative investment of ₹250 crore and this implies a 50 ti...
