Dixon Technologies (India) Limited Corporate Presentation
October 2017 Company Overview
Dixon Technologies (India) Limited Corporate Presentation 2 Dixon Overview – Largest Home Grown Design-Focused Products & Solutions Company
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
Philips Lighting India Haier Appliance (I) Panasonic India Private Limited Limited Private Limited
Mitashi Edutainment Surya Roshni Dish Infra Services Private Limited Abaj Electronics Private Limited Limited Private Limited
Intex Technologies Vijay Sales Reliance Retail Limited Gionee (I) Limited
Note: (1) As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”
Dixon Technologies (India) Limited Corporate Presentation 3 Diversified Product Portfolio
Timeline of Product Evolution Products Offerings within Verticals
Regular addition of new products coupled Consumer LED TVS – 19’’ to 65’’ and 4K2K technology with gradual scaling up in existing product categories Electronics Home theatres – 2.1 and 4.1 channel CFL Lighting, CFL Lamps, Ballast, Tube lights, Batten, CFL PCB, Downlighters, Lighting Products Colour TV reverse Phones CFL/LED Drivers logistics Home Appliances Semi-automatic washing machine ranging from 6.2kg to 8.2kg 2007 2010 2017 Mobile Phones Feature and smart phones (2G, 3G, 4G/LTE, VoLTE & CDMA) 1994 2008 2016 Repair and refurbishment – set top boxes LED TV, CCTV(1), Reverse Logistics Repair – mobile phones, LCD/LED TVs, LED panel, home LCD TV Washing Digital Video theatre and computer peripherals & other devices Machines Recorder(1)
Revenue mix by verticals
FY14 FY15 FY16 FY17
0.3% 1% 2% 3% 3% 8% 9% 9%
33% 34% 28% 25%
31% 55% 64% 65%
8% 22% Consumer electronics Lighting products Home appliances Mobile phones Reverse logistics
Provide one-stop-shop solutions to companies in the consumer durables, lighting and mobile phones industry in India
Note: (1) Executed a joint venture agreement to manufacture the mentioned products
Dixon Technologies (India) Limited Corporate Presentation 4 Key Milestones
Amalgamation of DAPL and DBMPL
Entered the lighting products vertical Entering into a JV with Aditya Infotech Limited for the manufacture of security systems including CCTVs and DVRs Private equity investment by IBEF and IBEF 1 Company got Listed on BSE & NSE Commencement of reverse logistics operations
Commencement of manufacturing Acquisition of remaining Commencement of manufacture of of washing machines by DAPL shareholding of DAPL & DBMPL colour TVs (erstwhile subsidiary) (erstwhile subsidiaries)
1996 2009 & 2010 2014 2016
1994 2008 2010 2015 2017
Achieved more than INR 10 Bn of Establishment of revenue from operations on a Noida I Facility standalone basis
Commencement of commercial Commencement of manufacture of mobile manufacturing in the metal sheet and phones through JV, PEPL moulding segments by DBMPL (erstwhile Granted approval by the GoAP for setting up subsidiary) a manufacturing facility in Tirupati
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
Dixon Technologies (India) Limited Corporate Presentation 5 Business Segments
5 1 Reverse Consumer Logistics Electronics
4 2 Mobile Lighting Phones products
3 Home Appliances
Dixon Technologies (India) Limited Corporate Presentation 6 1 Consumer Electronics Overview
Business segment overview Product portfolio
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 LED TVs
Client concentration by Key customers Financial performance (INR Mn) ODM Revenue share (%) FY17 Revenue
Haier Appliance (I) Panasonic India Other Private Limited Private Limited 12% 13% 3.0% Haier 9% 9% Abaj Electronics Reliance Retail 3% 2.1% Private Limited Limited Intex 1.6% 1.7% 9% 8,445 4% Mitashi Intex 6,983 Edutainment Technologies (I) Reliance 7,701 Private Limited Limited 10% 7,756 Panasonic 65% Vijay Sales FY14 FY15 FY16 FY17 FY14 FY15 FY16 FY17 Revenue EBTIDA Growth is will be driven by further strengthening relationships with existing customers and increase product portfolio in ODM solution category
Note: (1) Source: As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”
Dixon Technologies (India) Limited Corporate Presentation 7 EMS Opportunity for Consumer Electronics – Television Market
FPD TV market to grow @ CAGR of 16%... ….With increasing share of LEDs…
FPD TV market by type (Volume) CAGR: FY16-FY21 26.2 Volume: 16.9% 23.1 Value: 15.7% 19.8 17.0 14.5 75% 12.0 92% 10.0 98% 100% 100% 100% 100% 100% 100% 8.0 777.1 693.8 5.0 601 448.1 520.2 315 374.4 160.5 254.4 25.0% 8.0% 2.0% 0.2% FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 Revenue (INR Bn) Volume (Mn) LCD LED
Higher localization and domestic manufacturing to aid to growth opportunities for EMS/ ODM companies
OEP data segmented by OEM and EMS production ratio EMS/ODM segment to grow @ CAGR of 55% (FY16 – FY21) Domestic Manufacturing FY16 – (Mn units) Production by EMS / ODM FY16 (Mn units) (Mn Units) 10.8 0.2 17% 8.2 Dixon is the leader in the 0.1 8% FPD TV with a share of 5.9 6.7 1.2 0.6 50.4% in India and is 85% 4.2 15% 0.1 50% ranked number one. The 8% next competitor MEPL is a 2.3 distant second with a 1.2 0.1 0.6 share of only 8.4%. 0.1 0.5 8% 0.1 9% Dixon MEPL SVL FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 OEP by EMS OEP by OEM Videotex Noble Others Growing trust and confidence in EMS and ODM players is leading shift towards outsourced manufacturing
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.
Dixon Technologies (India) Limited Corporate Presentation 8 2 Lighting Products Overview
Business segment overview Product portfolio
Products: Manufactures CFL Lamps, Ballast, Tube lights, Batten, CFL PCB, Downlighters, CFL/LED Drivers LED LED bulbs 0.5W to 20 W; Downlighters 5W to 15W; Battens; T- LEDs 20W to 24W Annual installed capacity (Mn units): CFL lamps (48.0) & LED lamps (126.0) and LED Products 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 20W CFL Lamps CFL Lamps 5W to 27W and include main electronic board designing, mechanical and light source and packaging designing Backward Integration include sheet metal, plastic moulding and wound components Indoor LED drivers 5W to 20W; Outdoor LED drivers 20W Lamp Drivers Exporting CFL/LED lamps to parts of Europe, Africa and Asia to 150W; Electronics lamp driver 10W to 40W Secured prestigious government tender for supply of 45 Mn LED lamps
Client concentration by Key customers Financial performance (INR Mn) ODM Revenue share (%) FY17 Revenue
45% 10% 5.2% 40% Philips Lighting India Limited
3.2% 2.8% 3.0% Surya Roshni Limited 5,508 4,295 12% 3,077 3,006 4%
90% FY14 FY15 FY16 FY17 FY14 FY15 FY16 FY17 Philips Other Revenue EBITDA
Dixon serves top players of the market covering ~40%2 of the share and plans to increase product portfolio in ODM solution category
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”
Dixon Technologies (India) Limited Corporate Presentation 9 EMS Opportunity for Lighting Market
LED Lighting taking the lead in the lighting segment Government initiatives to boost LED growth
(INR Bn) LED CFL Others National level projects for LED lights installation such as, Unnat Jyoti by CAGR FY16-21 47 Affordable LEDs for All (UJALA), Domestic Efficient Lighting Programme (DELP), Total Market: 16.6% 12 Street lighting National Program (SLNP), etc. LED 59.2% 65 61 29 23 75 Subsidy for setting up semiconductor manufacturing facility to support high value addition activities 89 30 274 95 92 192 201 69 80 33 119 To promote and raise awareness, subsidized 9W LED bulb is available to 35 35 38 37 53 consumers for an amount of INR 10 per month, thus becoming an adoption 7 12 17 27 driver FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 Increasing Role of EMS in Indian Lighting Market
OEP data segmented by OEM and EMS production ratio, FY 16 EMS/ODM segment to grow @ CAGR of 43.9% (FY16 – FY21) Domestic Manufacturing FY16 Production by EMS / ODM FY16 (INR Bn) (Mn units) (Mn units ) 214.4 104.7 88.4 22% 7.6 39% 3% Dixon is the single largest EMS player for 227.4 lighting products accounting for 38.9% of 48% 63 the total lighting volumes manufactured 28% by EMS/ODM in FY 16
143.7 34.8 30% 68.4 30%
Tier I Tier II EMS Dixon NTL Compact Lamps Others FY16 FY21 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
Dixon Technologies (India) Limited Corporate Presentation 10 3 Home Appliances – Washing Machine Overview
Business segment overview Product portfolio
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 6.5 Kg 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 7.5 kg Also undertake in-house early life test of parts as well as complete washing machines, water leakage testing and noise testing
Client concentration by Key customers Financial performance (INR Mn) ODM Revenue share (%) FY17 Revenue
21% 1,880 100% 100% 100% 100% Panasonic India Private Limited 16.3% 1,306 47% 1,067 10.7% Haier Appliance (I) Private Limited 16% 849 6.3% 5.8%
16% Intex Technologies (I) Limited
FY14 FY15 FY16 FY17 Panasonic Haier Intex Other FY14 FY15 FY16 FY17 Revenue EBTIDA
Growth is will be driven by expanding product basket, deepening existing customer relationship and expanding customer base
Note: (1) Source: As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”
Dixon Technologies (India) Limited Corporate Presentation 11 (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 EMS Opportunity for Home Appliances – Washing Machine Market
Washing Machines market to grow @ CAGR of 15%… …. With semi-auto washing machines being the dominant category
FY16 Volume market share by types CAGR FY16-FY21 9.9 Volume: 14.6% 15% Value: 15.6% 8.5 7.4 Propellants for Semi- 6.5 automatic machines 5.7 5.0 4.1 4.5 The price conscious 3.8 163.7 139.2 nature of Indian 103.9 119.8 56% consumers 79.1 90.7 29% 59.1 64 70.4 A large first time user base FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 Revenue (INR Bn) Volume (Mn) Semi-automatic Fully automatic top load Fully automatic Front Load
Higher localization and domestic manufacturing to aid to growth opportunities for EMS/ ODM companies
OEP data segmented by OEM and EMS production ratio EMS/ODM segment to grow @ CAGR of 41% (FY16 – FY21) Domestic Manufacturing FY16 Production by EMS / ODM FY16 (Mn Units) (Mn units) (Mn units) 3.4 0.2 29% 2.4 0.3 Dixon enjoys market 0.6 43% leadership in this segment 1.7 4.1 13% 87% and currently commands 1.2 a share of 42.6% in the 0.8 0.6 WM EMS market 0.3 0.4 0.2 0.1 28% FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 OEP by EMS OEP by OEM Dixon Noble Others
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
Dixon Technologies (India) Limited Corporate Presentation 12 4 Mobile Phones Overview
Business segment overview Dixon has set up a state of the art manufacturing facility
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 Client concentration by Key customers Financial performance (INR Mn) Product portfolio FY17 Revenue Revenue Feature phones Smart phones 8,107 Panasonic India Private Limited
44% 50% Gionee
6% 200
Panasonic* Karbonn Gionee** FY14 FY15 FY16 FY17
Growth is will be driven by deepening of relationships with existing key customers, migration towards PCB level assembly & backward integration for mobile phone chargers
* * 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
Dixon Technologies (India) Limited Corporate Presentation 13 EMS Opportunity for Mobile Phones Market
Mobile phones market is growing @ CAGR of 20%... …With increasing share of Smartphones
(INR Bn) OEM Value (INR Bn) – FY16 OEM Value (INR Bn) – FY21 3,947.2 530.8 3,151.7 13% 2,558.0 597.8 2,100.8 1,800.5 38% 1,489.5 1,583.5 1,252.4 1,253.5
985.6 3,416 62% 87%
FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 Feature Phones Smart Phones The demand for mobile phones is expected to grow from 282.2 million units in FY16 to 509.0 million units in FY21
Mobile Phone OEMs are increasingly outsourcing manufacturing to EMS partners
OEP data segmented by OEM and EMS production ratio Opportunity for EMS in FY21
Domestic Manufacturing Production by EMS / ODM Domestic production of smart phones will rise to Apr 17 – Dec 17 – (Mn) Apr 17 – Dec 17 – (Mn) 359.9 Mn units and that of feature phones will rise Flextronics, Dixon, 7 2.9 Foxconn, BGM, Million to 221.4 Mn units by FY21 20.3% 8.4% Club and PGEL are the This translates into a total domestic production 51.8 12 major EMS players in 60% 34.4 5 34.9% mobile phone volume of 581.3 Mn units. 66.0% of the 40% 14.5% manufacturing in India manufacturing market shall be with EMS players in and they stand to gain FY21, presenting an opportunity of 383.7 Mn units 7.5 from the unfolding in FY21 for the EMS industry 21.8% opportunity Dixon Foxconn Flextronics OEP by EMS OEP by OEM BGM Others 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
Dixon Technologies (India) Limited Corporate Presentation 14 5 Reverse logistics Overview
Business segment overview Product portfolio
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 LED TV Focuses on B2B reverse logistics, which is in line with the strategy of building Set top box 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. Computer peripherals
37.49% capacity utilized during the fiscal year ended Mar 31, 2017
Have 17 service centres in major cities in India Modem Mobile
Key customers Client concentration FY17 Financial performance (INR Mn)
Top customer contributed to 60.15% in the fiscal 20.7% Dish Infra Services Private Limited year ended March 31, 2017 19.6% 19.1%
18.1% Intex Technologies (I) Ltd 627
391 28 184
FY14 FY15 FY16 FY17 Revenue EBTIDA
Growth will be driven by diversification into new product categories within IT peripherals and recently started repair of CCTVs
Dixon Technologies (India) Limited Corporate Presentation 15 Reverse Logistics Market Overview
Share of products in the Reverse Logistics Market Potential Reliance of OEMs on 3rd Party Service Providers
45 Proper reverse logistics CAGR % 38.3 management and partnership 40 Mobile 20.0 with the Reverse logistic Reducing Creating Reducing the partner can create immediate, returns 35 STB 14.4 predictable pain to the 31.5 quantifiable and measurable management FPD TV 15.7 cash flow OEM 30 results that can act as a costs WM 15.7 25.5 catalyst for growth. These results include: 25 CP 15.3 22.3 (INR Bn) (INR 19.2 20 16.6 Getting business Increasing 14.8 Reducing intelligence on trends in sales 15 11.5 leakage 10.7 returns and product faults margins 10
5 Generating 0 higher asset Avoiding recovery channel FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 rates from conflict FPD TV Set Top Box Mobile Phones CP WM timely disposition Importance of Reverse Logistics in e-commerce
The overall return rate for all products in the e-Commerce is in the range Since reverse logistics is not the core competence of most OEMs, they of 15.0 to 20.0% and on an average INR 1.2 trillion of all the products are outsource this completely (from customer support to sale of the returned annually refurbished product) to 3rd party service providers
Selling refurbished products is beneficial for both OEMs and e-retailers. End-to-end service providers stand to benefit as OEMs prefer to On one hand it helps OEMs clear up the inventory faster, on the other, it outsource all activities to a reliable partner. Given the nascent state of enables e-Commerce players offer more choices at lower costs reverse logistics, there is a large opportunity waiting to be tapped. The early movers will enjoy the advantage in terms of market penetration
Reverse logistics is not the core competence of most OEMs, they outsource this completely
Source: As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”
Dixon Technologies (India) Limited Corporate Presentation 16 Investment Highlights
Dixon Technologies (India) Limited Corporate Presentation 17 Investment Highlights
Industry growth drivers in A booming consumption economy paving a way for the growth in the consumer electronics market, which is expected to boost local 1 place manufacturing, providing growth opportunities for EMS Industry
Leading market position in Dixon is a leading player in most verticals it operates in - enjoyed market leadership in manufacturing of FPD TVs, washing machines, 2 key verticals LED and CFL lights in India in Fiscal 20161
Dixon’s major customers are well respected players in one or more product categories offered by them - long term reputed players in the industry Strong relationships with a Dixon has long-standing relationships with well-known customers across product verticals 3 diverse top-tier customer base 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
Dixon places a high emphasis on integrating services to continue to serve as an end-to-end product solutions provider and maintain an End to end solutions provider edge over competitors 4 with dedicated R&D capabilities Dedication to design, manufacturing and service infrastructure ensures customer satisfaction, foster customer loyalty and generate repeat business
Dixon maintains flexibility of manufacturing facilities by measures such as multiple-function training and standardization of equipment Flexible and cost-effective Dixon is able to offer cost effective solutions because of large scale of operations, extensive experience in manufacturing, backward 5 manufacturing capabilities integrated manufacturing facilities, global sourcing and processes and availability of skilled and unskilled manpower at its manufacturing facilities
Track record of sustained growth in revenue and profitability - achieved a CAGR of 33.8% in revenue from operations (net) and 44.4% Strong Financial Performance in EBITDA (for the last four fiscals ended March 31, 2017) 6 and stable cash flows Dixon’s strong balance sheet gives customers the confidence that they will be able to support them in terms of both capabilities and capacities
Experienced Promoter and Dixon has a highly experienced and dedicated management team which enables it to capture market opportunities, formulate and 7 seasoned management team execute business strategies, manage client expectations as well as proactively manage changes in market conditions
Note: (1) As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”
Dixon Technologies (India) Limited Corporate Presentation 18 Growing Demand in the Consumer Electronics Market in India is Expected to 1 Boost Local Manufacturing
Indian Consumer Electronics market stated to grow @CAGR of 17%
Indian Consumer Electronics Market (INR Bn) India CE Market Revenue breakup (FY16) 5,236 Key Growth Drivers 3%1% 6% Mobiles 4,326 7% Continually spiralling replacement demand TV 3,615 Entry of numerous foreign and local brands 3,055 2,718 Set top Boxes with wide range of offerings at varied price 2,364 2,165 16% INR 2,364 Bn points 1,791 Digital Cameras 1620.5 Easy financing and zero down payment Washing schemes Machines Others Penetration of e-tail and emergence of numerous delivery models 67% FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21
India is turning to be a favourable destination for electronics manufacturing – Driving factors for increasing preference of India for electronics manufacturing
Stable political government that Duties and tariffs to discourage Rising cost of labour in China while assures global investors on imports and encourage domestic India is still at a lower end of this cost consistency in policies value addition Creation of National Manufacturing Zones (NMZ), Electronics Manufacturing Clusters (EMC), close coordination between centre and High domestic demand for products Investment by EMS companies Digitalization that accentuates states for investment promotion and services; local needs demand for select products
India has made quantum jumps in its global rankings to become a preferred destination for investments in electronics manufacturing
Source: As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”
Dixon Technologies (India) Limited Corporate Presentation 19 EMS Industry to Grow with the Growth in Local Manufacturing with 1 ODM as the Key Differentiator for EMS companies
Indian EMS Industry to grow @CAGR >30% with Top 3 companies accounting 28.5% Growth Drivers
(INR Bn) India EMS Market shares (Revenue in INR billion) 428 The Make in India initiative and the tax/ duty cuts have driven the growth of local manufacturing on a large 12.6% Jabil scale 325
Dixon Policies MSIPS, have been instrumental in encouraging new 9.3% 250 Government investment from EMS companies SFO 192 INR 148.8 bn 6.5% 149 Elin EMS offer OEMs flexibility in product design updates, 3.2% faster time to market, cost effectiveness, avoid 66.3% 1.9% PG Electroplast manufacturing challenges
Others OEMs OEMs can focus on their core functions and avoid
Increasing spreading their resources thin in their quest to achieve higher performance FY16 FY17 FY18 FY19 FY20 Outsourcingfrom
ODM companies will become an indispensable element in the success plan of OEMs
Increasing share of tier-II players giving impetus to ODM ODM will play critical role across Consumer Electronics products
SA WM is absent from the portfolio of many global companies. SA WM* However to complete the offering these companies partner with ODMs instead of investing in R&D While the tier-I players with their financial strength rely on their product Basic features are already being supported by ODMs and this design and development, tier-II players are content with brand positioning FPD TV trend will strengthen over the forecast period and not on in-house product capabilities Is currently being supported by OEM designs but given the high This has given impetus to ODM companies which develop designs that LED Lamps level of dynamism and tremendous opportunity at the low end become part of the tier-II players’ portfolio of the usage spectrum, ODM play is just a matter of time Feature OEMs focus on smart phones while keeping this high volume Phones segment serviced through EMS companies
EMS offerings are elevating from assembly only to design led manufacturing
Source: As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”; *Semi Automatic Washing Machine
Dixon Technologies (India) Limited Corporate Presentation 20 2 Leading Market Position in Key Verticals
Industry Size in the EMS/ Dixon’s share of the total production by EMS/ODM players in India ODM segments CAGR FY16 – Production by Capacity utilised (as a FY21 Dixon’s production (in 2016 2021E EMS/ODM players in % of total installed Market Share units) India (in units)* capacity) – FY16
10.8 FPD TVs (Units in 55.5% 1.2 Mn 0.6 Mn 48.09% 50.4% Mn) 1.2
3.4 Washing Machines 41.2% 0.6 Mn 0.3 Mn 52.86% 42.6% (Units in Mn) 0.6
214.4
LED and CFL lights 43.9% 227.0 Mn 88.4 Mn 54.00% 38.9% (INR Bn) 34.8
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
Source: As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”
Dixon Technologies (India) Limited Corporate Presentation 21 3 Strong Relationships With A Diverse Top-tier Customer Base
Dixon’s customers are long term reputed players in the industry …Leading to long term business relationships with customers
Panasonic India Private Limited, Philips Lighting India Limited, Duration of Global brands % of total FY17 Haier Appliance (I) Private Limited, Gionee relationship with Top five customers Products purchased revenue attributable the Company, not to such customer National brands Intex Technologies (I) Limited, Surya Roshni Limited less than Consumer electronics 22.4% Domestic retail Reliance Retail Limited, Vijay Sales private labels Panasonic India Home appliances 1.6% 4 years Private Limited* Regional brands in Mitashi Edutainment Private Limited, Abaj Electronics Private Reverse Logistics 0.01% Tier I and Tier II cities Limited Mobile phones 14.4%
Dixon’s continuously focuses on value proposition for the customers… 8 years (includes Philips Lighting the supplies made Lighting 20.2% Quality & Continuous Cost India Limited to Philips India Scale Integrity Innovation effectiveness Limited)
High level quality Able to pass on Strong R&D team Strong sourcing Gionee** Mobile phones 16.6% 1 year adherence the benefit of with proven skills and economics of expertise in economies of Frequent quality Consumer electronics/ scale to developing own scale Intex Technologies audits home appliances/ 4.4% 2 years customers designs Effective (I) Ltd. Never posed an reverse logistics “own brand” risk Efficient and ODMs have been backward to customers nimble supply approved by integration chain to respond global quality End-to-End Reliance Retail Consumer electronics to demand teams at HQ 3.3% 1 year manufacturing Limited / reverse logistics fluctuations under one roof
The long term relationships has enabled to continuously develop, diversify and Comprehensive value proposition has led to dominant share of business from improve product portfolio, plan production in anticipation of demand from reputed customers retail customers and ensure continuous focus on quality
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
Dixon Technologies (India) Limited Corporate Presentation 22 4 End to End Service Provider with Dedicated R&D Capabilities
High emphasis on integrating services to continue to serve as an end-to-end product solutions provider and maintain an edge over competitors
Reverse Logistics Research and development
Started reverse logistics vertical as a step towards further R&D centre located at Noida has access to latest equipment such enhancing integrated services as photometric system for light source and colour analysers Currently, this includes repair and refurbishment services for R&D team (22 employees as on 31 Jul’17) has the capabilities to STBs, LED panels and mobile phones verify and develop conceptual designs received from customers Ability to design and manufacture products like LED TVs and and convert such designs into deliverable products mobile phones gives them an edge for repairs and Development Excellence Award (semi-automatic washing machine) refurbishments of the same and similar products from Panasonic India Private Limited in 2016
Backward integration Global sourcing
Gradually backward integrated its services by setting up in- Increase in the scale of operations over the years has enabled house manufacturing of plastic moulding for lighting products, Dixon to have access to and establish continuous relationship LED TVs and washing machines; wound components for lighting with domestic and international suppliers products and back light unit clean room for LED TVs Benefits of placing large orders with suppliers allows Dixon to Provides the benefit of greater control on the manufacturing source at competitive prices thereby improving margins and process, quality and the corresponding benefits of cost ability to win further business efficiencies thereby improving margins
Dixon believes dedication to design, manufacturing and service infrastructure ensures customer satisfaction, foster customer loyalty and generate repeat business
Dixon Technologies (India) Limited Corporate Presentation 23 4 R&D has Enabled Dixon Develop and Design Products In-house – An ODM Player
ODM Business Model – Key Steps Increasing ODM share in the overall business
Dixon manages the entire manufacturing cycle of a product from initial stages of designing to 27% planning and sourcing raw material and components 22% Product profile of customers reviewed New products to be developed identified based on need 15% An agreement for product development arrived at after discussing various proposals with customers 14% 5,374
Identific 3,734 ation New product is designed and Production and developed based on 1,558 1,768 material procurement customer requirements plan arrived on the R&D, quality, basis of customer Production ODM Design & production & projections planning Business development procurement teams FY14 FY15 FY16 FY17 Model collaborate to develop Revenue from Operations (Net) (INR Mn) product ODM % of Revenue from Operations (Net)
Field trails Quality & demand control & Share of ODM by Business Verticals projection testing Business Vertical FY14 FY15 FY16 FY17
Developed product is tested & qualified Home appliances 100.0% 100.0% 100.0% 100.0% Trail lot is produced and sent for field testing. internally by Quality & Development team Any fine tuning, if required is done at this stage Product is sent to third party lab for testing Lighting products 3.5% 12.4% 40.2% 45.4% Once customer approves, quality estimates are arrived at and handed to procurement team Product is also sent to customer for testing & approval Consumer electronics 8.6% 4.2% 9.1% 11.8%
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
Dixon Technologies (India) Limited Corporate Presentation 24 5 Flexible and Cost Effective Manufacturing Capabilities
Dixon maintains flexibility of manufacturing facilities by measures such as multiple-function training and standardization of equipment
Noida Facility Unit I Unit II Unit III
LED bulbs, LED drivers, CFL lamps and reverse Products PCB assembly of CFL Mobile phones Dehradun logistics lamps Noida 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
Backward integration of Manufacturing facility LED TVs, Lighting Semi- automatic Products plastic parts and sheet Head Quartered products washing machines metal components Tirupati Expansion of industrial footprint to Type and Area Owned 16,188 sq. m. Rented 3,342 sq. m. Rented 7,689 sq. m. penetrate the markets in South India and to provide easier access to the exports market
Cost-effective solutions Ability to deliver quality products
Dixon is able to offer cost effective solutions to its customers due to: ISO 9001:2008 In-house capabilities for plastic mould and coil manufacturing ISO 14001:2004 Experience in large scale of operations Control on manufacturing processes, robust engineering and quality assurance systems Backward integrated manufacturing facilities Thorough pre-manufacturing checks and balances - prevents or, where Global sourcing and processes necessary, uncovers defects which ensures that time and resources are not Availability of skilled and unskilled manpower at manufacturing facilities wasted in the production of defective products
Maintains flexibility in manufacturing through surface mounting technology lines, which can be used to manufacture diverse products
Dixon Technologies (India) Limited Corporate Presentation 25 6 Strong Financial Performance and Stable Cash Flows
Revenue from Operations (Net) (INR Mn) Increasing ODM share in the overall business EBITDA(1) margins
ODM as a % of revenues from operations (net) EBITDA (INR Mn) EBITDA margin 27% 24,568 22% 4.3% 3.8% 2.8% 13,894 14% 15% 2.7% 12,013 10,937
922
294 340 604
FY14 FY15 FY16 FY17 FY14 FY15 FY16 FY17 FY14 FY15 FY16 FY17
PAT(1) margins Return Ratios
PAT (INR Mn) PAT Margin RONW(2) ROCE
36.5% 3.1% 34.7% 27.9% 25.5% 2.0% 18.4% 16.0% 1.2% 426 14.0% 14.7% 1.0% 504
135 119
FY14 FY15 FY16 FY17 FY14 FY15 FY16 FY17 FY14 FY15 FY16 FY17
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
Dixon Technologies (India) Limited Corporate Presentation 26 6 Strong Financial Performance and Stable Cash Flows
Cash Flow from Operations (INR Mn) Total Debt and Total Debt to Equity Ratio(1)
Total Debt (Mn) Debt/ Networth 546 869 445 423 799 771 1.2
0.9 429
0.6 104
0.2
FY14 FY15 FY16 FY17 FY14 FY15 FY16 FY17
Total Debt(1) to EBITDA Working Capital Days (2)
Total Debt/ EBITDA times 14 3.0 10 2.3 10 8
1.3 0.7
FY14 FY15 FY16 FY17 FY14 FY15 FY16 FY17
Dixon’s strong balance sheet gives their customers the confidence that they will be able to support them in terms of both capabilities & capacities
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 27 7 Experienced Promoter and Seasoned Management Team…
Senior management possess extensive industry and management experience
Founder of Dixon; associated since inception; qualified MBA Awards and Recognition “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 Sunil Vachani Promotion Council of India and Co-Chair of the CII ICTE Committee Promoter & Executive Chairman
Post Graduate from BITS Pilani, Atul has more than 25 years of experience in the EMS industry ‘Development Excellence Award He has been with DIXON since its inception is responsible for our Company’s overall business (semi-automatic washing operations machine)’ from Panasonic India Served as a member of the Technical Evaluation Committee for Electronic Manufacturing Private Limited in 2016 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 ‘Best OEM Award 2011’ awarded to Electrical Components and Equipment (LITD. 02) of the BIS Atul B Lall the Company by CEAMA Managing Director Authored the book, ‘Gita and India Inc.’
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
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
Dixon Technologies (India) Limited Corporate Presentation 28 7 … Supported by Industry Veterans
Promoter of Dixon and has been associated since inception Mr. Sunil Vachani Has over two decades of experience in the EMS industry and has held positions like chairman of the Electronics and Computer Software Export Promotion (Executive Chairman) 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 Mr. Atul B. Lall Has served as a member of the Technical Evaluation Committee for Electronic Manufacturing Services under M-SIPS (Electronic Manufacturing Services-EMS) (Managing Director) 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) Dr. Ramesh Chandra Has over 32 years of experience in the electronics industry Chopra (Non-executive Currently a director on the board of Onicra Credit Rating Agency of India Limited and Onicra Credit Information Company Limited. independent Director) Holds a degree of doctor of philosophy (science) from the University of Bombay
Founding president of the India Electronics & Semiconductor Association Ms. Poornima Shenoy 22 years of experience in electronics engineering (Non-executive Completed the global leadership in healthcare from the University of Michigan Business School and is a British Chevening scholar in Women in Leadership and independent Director) 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 Mr. Manuji Zarabi (Non- 2005 executive independent Member of the working group on development of R&D and IP in electronics formed at DeitY Director) Holds a degree of doctor of philosophy from the Indian Institute of Science, Bangalore
Experience of more than 28 years in finance functions encompassing various aspects of finance and corporate functions Mr. Manoj Maheshwari 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 (Non-executive Finance and Development Limited and a director of Vision One India Consulting Services Private Limited. independent Director) FCA, ACS and also holds a post graduate diploma in business administration from Symbiosis Centre for Distance Learning
Dixon Technologies (India) Limited Corporate Presentation 29 Growth Strategies
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
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 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 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
Dixon Technologies (India) Limited Corporate Presentation 30 Appendix
Dixon Technologies (India) Limited Corporate Presentation 31 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)
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 32 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 50.62 127.97 172.51 388.98 688.41 associates 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%
Dixon Technologies (India) Limited Corporate Presentation 33 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
Dixon Technologies (India) Limited Corporate Presentation 34 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
Dixon Technologies (India) Limited Corporate Presentation 35 Organization Structure
Mr. Sunil Vachani (Chairman)
Mr. Atul B. Lall (Managing Director)
Corporate Affairs Consumer HRD & Finance and Strategic New and legal Durables, Mobiles Lighting Planning and Investor Admin Home & Home project Compliance & New Projects Relations Servicing CFL Export Appliances and Governm ent liaisoning Mr. Ashish Kumar Mr. Vineet Mishra Mr. Saurabh Gupta Mr. Kailash Sharma (Company Secretary and (COO – Lighting) (CFO) (VP - Stores) Compliance officer)
Mr. Pankaj Sharma Mr. Vinay Mr. Rajeev Lonilal (COO – Consumer Pradhan Mr. Gopal Mr. Uday Pandey (COO – Home Electronics and Mobile (VP Human Jagwan Appliances) Division Resources)
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
Dixon Technologies (India) Limited Corporate Presentation 36 Our Management – Select KMPs and Senior Management
28 years of experience in factory operations, manufacturing, supply chain, global sourcing and business development Mr. Pankaj Sharma Formerly worked with Bigesto Foods Private Limited, Satkar Exports, Bestavision Electronics Limited, Samsung Co. Limited, Jain Tube Company (Chief Operating Officer- Limited and Shirllon Co Consumer Electronics & Mobile ) Responsibilities includes over-seeing operations of the verticals
Mr. Vineet Kumar 22 years of experience in electronics engineering (Chief Operating Officer- Formerly worked with Samsung India Electronics Limited, Hotline Witties Electronics Limited and Onida Savak Limited Lighting) Responsibilities include overseeing the overall manufacturing efficiency, quality, service and cost efficiency management of resources
30 years of experience in plastics moulding Mr. Rajeev Lonial Formerly worked with Dipty Lal Judge Mal Private Limited, Nouble Moulds Private Limited, Evershine Moulding Private Limited, Ever Shine Plastic (Chief Operating Officer – Home Industries, Essen Fabrication & Engineering Co. Private Limited and Shree Krishna Keshav Lab Limited Appliances) Responsibilities include management of resources in the home appliances vertical
14+ years of experience in Corporate Finance, Strategic Planning & Investor Relations Formerly worked with PVR Ltd., Unitech & Mckinsey Mr. Saurabh Gupta He holds MBA (Executive Program ) from MDI Gurgaon. He is also an associate member of ICSI and ICAI. (Chief Financial Officer) 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
15+ experience in national and international regulatory and compliance. Mr. Ashish Kumar He has formerly worked with DLF Universal Limited, Damas International Limited, Tecom Investments FZ LLC and Narayana Hrudayalaya Limited (Company Secretary and He is a fellow of Institute of Company Secretaries of India and has done executive programme in business management from IIM, Calcutta. Compliance Officer) He leads the secretarial, legal, regulatory and corporate governance compliances of our Company.
Dixon Technologies (India) Limited Corporate Presentation 37 Our Management – Select KMPs and Senior Management
+32 years of industry experience in store, supply chain and material management Mr. Kailash Chander Sharma (VP – Stores) Holds a bachelor’s degree in arts from Punjab University Responsibilities include leading the store, supply chain and material for Dixon
He has more than 30 Years experience in Retail Industry Mr. Muneesh Dhawan Formerly worked with Weston, Sony and Samsung. (Vice President –Business He holds a bachelor’s degree in Science from Hindu College ( DU) , has done Post Graduation in Marketing management from ‘Bhartiya Vidya Development ) Bhawan and Post Graduation in International Marketing from IIFT, New Delhi. He Leads the Business Development for India and International Markets.
He has more than 25 years of experience in HR and IR. Mr. Vinay Pradhan Formerly worked with Bajaj Group, Alchemist Limited, Carlson Hospitality Worldwide and Reliance Industries Limited. (Vice President – Human He holds a bachelor’s degree in economics and has completed a post graduate diploma in management - human resources from IIM, Calcutta . Resources ) He leads the HR, admin, liaison and industrial relations of our Company.
Mr. Gopal Jagwan He has formerly worked with Ballarpur Industries Limited, Pearl Global Limited and Vineetaz Exports Private Limited and is a fellow of the Institute of (New project and Government Chartered Accountants of India liaisoning) 17+ years of experience in the field of finance He heads “New project and Government liaisoning” of our Company
Dixon Technologies (India) Limited Corporate Presentation 38 Thank You
Dixon Technologies (India) Limited Corporate Presentation 39