Company Valuation: Dixon Technologies (India) Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,15,075 2,55,693 1,70,420 4,47,421 7,93,889 8,86,173 - -
Change - 18.89% -33.35% 162.54% 77.44% 11.62% - -
Enterprise Value (EV) 1 2,15,900 2,59,188 1,72,359 4,50,224 7,97,964 5,85,665 8,89,864 8,82,053
Change - 20.05% -33.5% 161.21% 77.24% -26.61% 0.84% -0.88%
P/E 137x 135x 67.1x 120x 65.1x 35.9x 77.3x 50.1x
PBR 29.2x 25.7x 13.3x 26.4x 26.4x 12.6x 14.5x 11.2x
PEG - 7.1x 2x 2.6x 0x 1.1x 282.69x 0.9x
Capitalization / Revenue 3.34x 2.39x 1.4x 2.53x 2.04x 1.2x 1.28x 0.99x
EV / Revenue 3.35x 2.42x 1.41x 2.54x 2.05x 1.2x 1.29x 0.98x
EV / EBITDA 75.3x 68.4x 33.5x 63.6x 52.3x 31x 37.5x 25.6x
EV / EBIT 88.9x 87.8x 43.1x 82.5x 64.1x 39.2x 46.6x 30.2x
EV / FCF 11,129x -175x 65.2x 2,860x 314x 81.9x 181x 60.7x
FCF Yield 0.01% -0.57% 1.53% 0.03% 0.32% 1.22% 0.55% 1.65%
Dividend per Share 2 1 2 3 5 8 10 11.7 15.21
Rate of return 0.03% 0.05% 0.1% 0.07% 0.06% 0.1% 0.09% 0.11%
EPS 2 26.87 32 42.62 62.46 202.6 269.4 176.5 272.4
Distribution rate 3.72% 6.25% 7.04% 8.01% 3.95% 3.71% 6.63% 5.58%
Net sales 1 64,482 1,06,971 1,21,920 1,76,909 3,88,601 4,88,728 6,91,303 8,96,506
EBITDA 1 2,866 3,791 5,144 7,079 15,250 18,880 23,719 34,439
EBIT 1 2,429 2,952 3,997 5,460 12,439 14,950 19,081 29,165
Net income 1 1,598 1,902 2,555 3,678 10,955 14,386 10,714 16,424
Net Debt 1 824.2 3,495 1,939 2,803 4,074 -2,472 3,691 -4,121
Reference price 2 3,672.15 4,308.80 2,861.30 7,479.25 13,179.50 13,651.00 13,651.00 13,651.00
Nbr of stocks (in thousands) 58,569 59,342 59,560 59,822 60,237 61,086 - -
Announcement Date 27/05/21 30/05/22 23/05/23 15/05/24 20/05/25 12/05/26 - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
77.56x1.69x44.31x0.08% 866.63Cr
12.56x - - 4% 510.32Cr
12.71x0.2x5.23x3.88% 492.04Cr
16.3x - - 1.05% 187.29Cr
9.27x - - - 107.43Cr
Average 25.68x 0.95x 24.77x 2.25% 432.74Cr
Weighted average by Cap. 38.79x 1.15x 30.16x 2.05%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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