Dixon partners with boAt for manufacturing twin wireless speakers

Dixon Technologies (India) and Imagine Marketing Pvt Ltd (known as, boAt) have entered into an agreement for manufacturing of twin wireless speakers. Dixon shall be manufacturing the said products from its manufacturing facility located in Noida (Uttar Pradesh). 

BoAt is a prominent leader in the earwear segment. Its high-quality audio devices are known for their style & efficiency. The product range has expanded to include an extensive catalogue of headphones, earphones, speakers, travel chargers & premium cables. 

Last month, the company’s wholly-owned subsidiary named, Padget Electronics had joined hands with Motorola for manufacturing smartphones. Padget Electronics is one of the few companies that recently received production linked incentive (PLI) scheme approval from the Government of India. 

Dixon Technologies is engaged in manufacturing products in the consumer durables, lighting & mobile phones markets in India. Its revenue mix includes consumer electronics – 59 per cent, lighting products – 18 per cent, home appliances – 9 per cent, mobile & EMS division – 12 per cent, security systems – 2 per cent, and reverse logistics – 0.2 per cent. 

On the financial front, its consolidated revenue for the quarter Q2FY21 came in at Rs 1,638.74 crore as against Rs 1,401.98 crore in the corresponding quarter last year, registering a 16.9 per cent YoY increase. EBITDA for the quarter grew by 41.8 per cent YoY to Rs 89.38 crore with a corresponding margin expansion of 96 bps. EBITDA margin for the quarter stood at 5.5 per cent. PAT for the quarter came in at Rs 52.36 crore, registering a YoY increase of 21.7 per cent. 

On Wednesday, the stock of Dixon Technologies closed 3.1 per cent higher at Rs 14,460.05 from its previous close of Rs 14,024.80. In 2020, it has delivered a robust return of approximately 240 per cent.