Dixon Technologies Q3: External risks come to the fore
www.moneycontrol.com/news/business/moneycontrol-research/dixon-technologies-q3-external-risks-come-to-the-fore-10123051.html
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Subdued performance in consumer electronics and lighting business
Mobile business disappointed in a big way
TV volumes contracted 17 percent YoY
Valuations remain stretched for fresh entry
gave investors a nasty surprise.
stock crashed about 20 percent post the financial results
short span of two months, the management once again trimmed its FY23 revenue guidance due to demand headwinds.
Post the Q3 numbers, the management once again slashed its FY23 revenue guidance to Rs 12,200-12,700 crore (vs. ~ Rs 15,000 crore guided earlier in November/December)
management, however, expects to clock 40-50 percent revenue growth in FY24
Post the ~50 percent correction in stock price, Dixon trades at nearly 41x FY24 estimated earnings
valuation is still not appealing for fresh entry.
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