Dixon Corporate Presentation Oct 17

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
Reliance Retail Limited Gionee Intex Technologies

Vijay Sales
(I) Limited
Note: (1) As per Frost & Sullivan research report on “Indian Consumer Electronics & Appliances Market Study – May 2017”

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

Key Milestones
 Amalgamation of DAPL and DBMPL
 Entered the lighting products vertical  Entering into a JV with Aditya Infotech Limited for the
 Private equity investment by IBEF and IBEF 1 manufacture of security systems including CCTVs and DVRs
 Commencement of reverse logistics operations  Company got Listed on BSE & NSE
 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

Business Segments
5 1
Reverse Consumer
Logistics Electronics
4 2
Mobile Lighting
Phones products
3
Home
Appliances

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 12%
Private Limited Private Limited 3.0%
13%
Haier 9%
Abaj Electronics Reliance Retail 3% 9%
2.1%
Private Limited Limited 1.7%
Intex 1.6%
9%
8,445 4%
Mitashi Intex 6,983
Edutainment Technologies (I) Reliance
10% 7,756 7,701
Private Limited Limited
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”

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% 98%
10.0 100% 100% 100% 100% 100% 100%
8.0 777.1
693.8
5.0 520.2 601
374.4 448.1
254.4 315 25.0%
160.5
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% 15% ranked number one. The 4.2
0.1 50%
8% next competitor MEPL is a
distant second with a 2.3
0.1 1.2
8% share of only 8.4%. 0.5 0.6
0.1 0.1
9%
Dixon MEPL SVL
OEP by EMS OEP by OEM FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21
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.

2 Lighting Products Overview

 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;
 Annual installed capacity (Mn units): CFL lamps (48.0) & LED lamps (126.0) and LED Products Battens; T- LEDs 20W to 24W
drivers (6.0); Ballast (15.6); Others1 (64.8)
 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
 Exporting CFL/LED lamps to parts of Europe, Africa and Asia Lamp Drivers
to 150W; Electronics lamp driver 10W to 40W
 Secured prestigious government tender for supply of 45 Mn LED lamps
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”

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
274 value addition activities
89 30
95 92 192 201
69 80
33 119  To promote and raise awareness, subsidized 9W LED bulb is available to
38 37 35
35 27 53 consumers for an amount of INR 10 per month, thus becoming an adoption
7 12 17
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%
Domestic Manufacturing FY16 (FY16 – FY21)
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

3 Home Appliances – Washing Machine Overview

 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
 68.12% capacity utilized during the fiscal year ended Mar 31, 2017 6.5 Kg
 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
FY17 Revenue
21% 1,880 100% 100% 100% 100%
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

Panasonic Haier Intex Other
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”

(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
Volume: 14.6% 9.9
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
4.1 1.7
13%
87% and currently commands
1.2
a share of 42.6% in the
0.8
WM EMS market 0.6
0.3 0.4
0.2 0.1
28%
OEP by EMS OEP by OEM Dixon Noble Others FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21
Commoditized Semi-automatic WM product having limited scope for design and innovation supports increasing reliance on EMS companies

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
 9 step process starting from assembly, testing, inspecting to packaging and
dispatching
 Manufacturing requires controlled environment and testing requires special
equipment and methodology
Key customers Financial performance (INR Mn) Product portfolio
FY17 Revenue
Revenue Feature phones Smart phones
8,107
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

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 38%
1,583.5 1,800.5
1,489.5
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
2.9
Flextronics, Dixon,
7
Foxconn, BGM, Million
to 221.4 Mn units by FY21
20.3% 8.4%
Club and PGEL are the
51.8  This translates into a total domestic production
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 market shall be with EMS players in
manufacturing in India
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

5 Reverse logistics Overview

 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
 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

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
Creating Reducing
partner can create immediate, Reducing the
STB 14.4 returns
35 31.5 predictable pain to the
quantifiable and measurable management
FPD TV 15.7 cash flow OEM
results that can act as a costs
30
(INR Bn)
WM 15.7 25.5 catalyst for growth. These

25 22.3 results include:
CP 15.3
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
higher asset Avoiding
0
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”

Investment Highlights

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
3 diverse top-tier customer base
 Dixon has long-standing relationships with well-known customers across product verticals
 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
 Dedication to design, manufacturing and service infrastructure ensures customer satisfaction, foster customer loyalty and generate
capabilities
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”

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
3% 1%
Key Growth Drivers
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
2,165 2,364 16% INR 2,364 Bn points
Digital Cameras
1620.5 1,791  Easy financing and zero down payment
Washing schemes
Machines
Others  Penetration of e-tail and emergence of
numerous delivery models
FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 67%
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 Creation of National Manufacturing
consistency in policies value addition
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

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
Government
driven the growth of local manufacturing on a large
Policies
12.6% Jabil scale
325
Dixon  MSIPS, have been instrumental in encouraging new
9.3%
250 investment from EMS companies
SFO
192
INR 148.8 bn 6.5%
Outsourcing from
149 Elin  EMS offer OEMs flexibility in product design updates,
3.2% faster time to market, cost effectiveness, avoid
Increasing
66.3% 1.9% PG Electroplast manufacturing challenges
OEMs
Others  OEMs can focus on their core functions and avoid
spreading their resources thin in their quest to achieve
FY16 FY17 FY18 FY19 FY20 higher performance
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

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

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* Reverse Logistics 0.01%
Regional brands in Mitashi Edutainment Private Limited, Abaj Electronics Private
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
 Frequent quality economics of expertise in economies of
scale to developing own scale
Consumer electronics/
audits Intex Technologies
customers designs home appliances/ 4.4% 2 years
 Never posed an  Effective (I) Ltd.
 Efficient and  ODMs have been backward reverse logistics
“own brand” risk
to customers nimble supply approved by integration
chain to respond global quality  End-to-End Reliance Retail Consumer electronics
to demand teams at HQ manufacturing 3.3% 1 year
fluctuations
Limited / reverse logistics
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

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

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
 An agreement for product development arrived at after discussing various proposals with customers 15%
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 FY14 FY15 FY16 FY17
procurement teams
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

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 Dehradun
Products PCB assembly of CFL Mobile phones
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 Head Quartered
Products plastic parts and sheet
products washing machines Tirupati
metal components
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

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%
13,894 15% 2.7% 2.8%

14%
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%
426 14.7% 16.0%
1.2% 14.0%
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

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
445 799 771
423
1.2
0.9
429
0.6
104
0.2
Total Debt(1) to EBITDA Working Capital Days (2)

Total Debt/ EBITDA times
14
3.0
10 10
2.3
8
1.3
0.7
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

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

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

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

Appendix

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

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%

Restated Consolidated Financials – Balance sheet
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

Restated Consolidated Financials – Cash Flow Statement
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

Organization Structure
Mr. Sunil Vachani

(Chairman)
Mr. Atul B. Lall

(Managing Director)
Secretarial and Consumer Strategic

HRD & Home & Home
regulatory and Durables, Mobiles Lighting Finance Servicing Planning and
Admin CFL Export Appliances
legal Compliance & New Projects Investor Relations
Mr. Ashish Kumar Mr. Gopal Jagwan

Mr. Vineet Mishra Mr. Kailash Sharma
(Company Secretary and (CFO)
(COO – Lighting) (VP - Stores)
Compliance officer)
Mr. Pankaj Sharma Mr. Vinay Mr. Saurabh Gupta

Mr. Sitaram Patel Mr. Rajeev Lonilal
(COO – Consumer Pradhan (Sr. VP – Strategic
(VP – Reverse (COO – Home
Electronics and Mobile (VP Human Planning and Investor
Logistics) Appliances)
Division Resources) Relations)
 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

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
Mr. Sitaram Patel  Over 15 years of experience in reverse logistics

(Vice-President– Reverse  He holds a master’s degree in business administration from Indian School of Business Management and Administration
Logistics)  Responsibilities include managing the operations of the reverse logistics vertical including managing service centers located Pan India
 17+ years of experience in the field of finance

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
(Chief Financial Officer) Chartered Accountants of India
 He leads the finance and accounts team and is responsible for all the activities pertaining to accounts, treasury management and MIS
 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.
 +32 years of industry experience in store, supply chain and material management
Mr. Kailash Chander Sharma
 Holds a bachelor’s degree in arts from Punjab University
(VP – Stores)
 Responsibilities include leading the store, supply chain and material for Dixon

Our Management – Select KMPs and Senior Management
 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.
 14+ years of experience in Corporate Finance, Strategic Planning & Investor Relations
Mr. Saurabh Gupta
 Formerly worked with PVR Ltd., Unitech & Mckinsey
(Sr. Vice President- Strategic
 He holds MBA (Executive Program ) from MDI Gurgaon. He is also an associate member of ICSI and ICAI.
Planning and Investor Relations)
 He Leads the Strategic Planning & Investor Relations functions of the Company
 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.

Thank You

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Dixon Technologies (India) Limited

Dixon Technologies (India) Limited  Corporate Presentation 2

Strong relationship with diverse top-tier customer base

Philips Lighting India Haier Appliance (I)

Reliance Retail Limited Gionee Intex Technologies

Dixon Technologies (India) Limited  Corporate Presentation 3

Timeline of Product Evolution Products Offerings within Verticals

Revenue mix by verticals

Dixon Technologies (India) Limited  Corporate Presentation 4

 Commencement of manufacturing  Acquisition of remaining

1996 2009 & 2010 2014 2016

1994 2008 2010 2015 2017

 Achieved more than INR 10 Bn of

 Commencement of commercial  Commencement of manufacture of mobile

Dixon Technologies (India) Limited  Corporate Presentation 5

Dixon Technologies (India) Limited  Corporate Presentation 6

Business segment overview Product portfolio

Dixon Technologies (India) Limited  Corporate Presentation 7

FPD TV market to grow @ CAGR of 16%... ….With increasing share of LEDs…

Revenue (INR Bn) Volume (Mn) LCD LED

Dixon Technologies (India) Limited  Corporate Presentation 8

Business segment overview Product portfolio

Dixon Technologies (India) Limited  Corporate Presentation 9

Increasing Role of EMS in Indian Lighting Market

Dixon Technologies (India) Limited  Corporate Presentation 10

Business segment overview Product portfolio

 100% of the revenues are derived from ODM business model

 Acquired in-house design capabilities to manufacture complete range of Semi-

FY14 FY15 FY16 FY17 FY14 FY15 FY16 FY17

Dixon Technologies (India) Limited  Corporate Presentation 11

Dixon Technologies (India) Limited  Corporate Presentation 12

Panasonic* Karbonn Gionee** FY14 FY15 FY16 FY17

Growth is will be driven by deepening of relationships with existing key customers,

Dixon Technologies (India) Limited  Corporate Presentation 13

Mobile Phone OEMs are increasingly outsourcing manufacturing to EMS partners

Dixon Technologies (India) Limited  Corporate Presentation 14

Business segment overview Product portfolio

Key customers Client concentration FY17 Financial performance (INR Mn)

FY14 FY15 FY16 FY17

Dixon Technologies (India) Limited  Corporate Presentation 15

WM 15.7 25.5 catalyst for growth. These

Importance of Reverse Logistics in e-commerce

Dixon Technologies (India) Limited  Corporate Presentation 16

Dixon Technologies (India) Limited  Corporate Presentation 17

Dixon Technologies (India) Limited  Corporate Presentation 18

Indian Consumer Electronics market stated to grow @CAGR of 17%

India is turning to be a favourable destination for electronics manufacturing –

Stable political government that Duties and tariffs to discourage

Dixon Technologies (India) Limited  Corporate Presentation 19

Dixon Technologies (India) Limited  Corporate Presentation 20

Industry Size in the EMS/

Dixon’s experience in manufacturing, successful backward integration and design capabilities,

Dixon Technologies (India) Limited  Corporate Presentation 21

Panasonic India Private Limited, Philips Lighting India Limited, Duration of

Consumer electronics 22.4%

**refers to sales made to distributors of RStar Limited

Dixon Technologies (India) Limited  Corporate Presentation 22

Reverse Logistics Research and development

Backward integration Global sourcing

Dixon Technologies (India) Limited  Corporate Presentation 23

Field trails Quality

Dixon Technologies (India) Limited  Corporate Presentation 24

Noida Facility Unit I Unit II Unit III

LED bulbs, LED drivers,