Dixon Tech hits record high as arm inks MoU with Asus India

Dixon Technologies (India) surged 7.47% to Rs 13,994.45 after its wholly owned subsidiary, Padget Electronics entered into memorandum of understanding (MoU) with Asus India for manufacturing of information technology products.

The agreement is to carry out manufacturing of information technology products i.e. notebooks, subject to signing of definitive agreements with Asuss entity or its affiliate, in due course.

Atul B. Lall, vice chairman & managing director of Dixon Technologies, said, It gives us an immense pleasure to partner with iconic brand Asus for manufacturing of notebooks. We are delighted and encouraged by the trust they have bestowed on Dixon for this collaboration. Asus has established a strong and trusted foothold worldwide, thanks to its advanced technology and we see them as our ideal long-term strategic partner who shares our core values focus on quality, engineering prowess and customer satisfaction & we intend to leverage each others strengths to manufacture notebook products.

ASUS is a multinational company known for the worlds best motherboards and high-quality personal computers, monitors, graphics cards, servers, routers, smartphones, optical storage, multimedia products, peripherals, wearables and other technology solutions.

Dixon Technologies (India) transformed from being a manufacturer of electronic goods to leading multi-product corporation with widespread activities. The company is primarily engaged in the manufacturing of electronics as its core business activity.

The company reported 107.91% surge in consolidated net profit to Rs 139.70 crore in Q1 FY25 from Rs 67.19 crore posted in Q1 FY24. Revenue from operations zoomed 101.12% year on year (YoY) to Rs 6,579.80 crore in the quarter ended 30 June 2024.

The counter hit a new life high of Rs 14,050 in intraday today.

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