Dixon Technologies (India) Ltd
Directors Reports
Dear Member(s),
Your Directors take immense pleasure in presenting the 30th
Annual Report on the business and operations of your Company along with the Audited
Standalone & Consolidated Financial Statements for the year ended 31st
March, 2023. The consolidated performance of the Company, its Subsidiaries and Joint
Ventures have been referred to wherever required.
Financial Summary / Performance of the Company (Standalone &
Consolidated)
The Company's financial results are as under:
( Rs. in Lakhs)
|
Standalone |
Consolidated |
Particulars |
For the financial year
ended |
For the financial year
ended |
|
31st March, 2023 |
31st March, 2022 |
31st March, 2023 |
31st March, 2022 |
| Revenue from Operations |
6,99,740 |
7,48,441 |
12,19,201 |
10,69,708 |
| Other Income |
1,847 |
262 |
561 |
381 |
| Total Income |
7,01,587 |
7,48,703 |
12,19,762 |
10,70,089 |
| Profit/ Loss before depreciation, finance
costs, |
37,908 |
28,124 |
51,836 |
38,292 |
| Exceptional items and tax expenses |
|
|
|
|
| Less: Depreciation/ Amortization/
Impairment |
5,761 |
5,072 |
11,463 |
8,395 |
| Profit/ Loss before Finance costs,
exceptional |
32,147 |
23,052 |
40,373 |
29,897 |
| items and tax expenses |
|
|
|
|
| Less: Finance costs |
3,622 |
3,015 |
6,057 |
4,420 |
| Profit/ Loss before exceptional items and
tax |
28,525 |
20,037 |
34,316 |
25,477 |
| expenses |
|
|
|
|
| Profit/ (Loss) of Joint Venture Companies |
- |
- |
162 |
(6) |
| Add/ (Less): Exceptional items |
- |
- |
- |
- |
Profit/ Loss Before tax |
28,525 |
20,037 |
34,478 |
25,471 |
| Less: Taxes (current & deferred) |
7,410 |
4,941 |
8,970 |
6,438 |
Profit/ Loss for the year |
21,115 |
15,096 |
25,508 |
19,033 |
Total comprehensive income/ loss |
21,065 |
15,086 |
25,380 |
19,092 |
| Balance of profit/ loss for earlier years |
64,361 |
49,851 |
71,785 |
53,345 |
| Add: Profit during the year |
21,115 |
15,096 |
25,552 |
19,026 |
| Less: Dividend paid on equity shares |
1,189 |
586 |
1,189 |
586 |
| Less: Dividend Distribution tax |
- |
- |
- |
- |
Balance carried forward |
84,287 |
64,361 |
96,148 |
71,785 |
Overview and State of Company's Affairs
Despite challenges in the macro environment, India emerged as one of
the fastest growing developing economies in the world, demonstrating tremendous resilience
amidst crisis. Due to easing of mobility restrictions, wide coverage of vaccination drives
and prudent efforts by the RBI to contain inflation, the economy remained well on track to
rebound growth. Additionally, accommodating fiscal and monetary policies by the government
and strong emphasis on asset creation and infrastructure development offered significant
impetus for further growth. Although the unorganized sector continued to witness some
uncertainty, corporate profits during the year remained particularly promising.
While supply-side imbalances are still prevalent, your Company
responded to supply chain disruptions with agility and successfully drove revenue growth
in the year under review.
As consumer spending improved, the Company noticed strong demand for
the products and the trend is expected to continue in the upcoming quarters as well. But,
the ODM business is likely to experience marginal pressures due to increased commodity and
freight costs.
Your Company has been constantly working towards accomplishing its
vision of being the most preferred & trusted manufacturing & solution partner to
brands operating across verticals. Your Company has carved out a firm place in the Indian
EMS industry. During the year under review, we acquired new customers and increased the
scope of work with the existing customers across almost all verticals. This has enabled us
to strengthen our market share and giving us an edge over our competitors. Moreover, your
Company's strong balance sheet and liquidity position has enabled us to capitalize on
growing market opportunities across all verticals.
Your Company aims at retaining and diversifying its clientele by
delivering advanced solutions and effective products. Furthermore, your Company's
wholly owned subsidiary Padget Electronics became the first Company out of 16 approved
entities to receive approval under PLI scheme of Government of India for manufacturing of
Mobile phones (Domestic Companies). With its extensive goal of mass production, your
Company is emerging stronger every day.
During the year under review, your Company became the first contract
manufacturer in India to get the sub licensing rights relating to Android & Google TV.
This new partnership will enable the company in offering a cost effective, consistent,
high quality & out of box experience to our existing customers & potential new
brands which will further strengthen the company's market leadership in the LED TV
category. During the year, your Company has also entered into an agreement with Ibahn
Illumination Private Limited (‘Ibahn') whereby Ibahn has agreed to transfer its
cutting edge technologies of smart lighting solutions. The Technology proposed to be
transferred shall include the technology developed by Ibahn pertaining to BLE Mesh Smart
Lighting (App, Firmware, Hardware, and Cloud Hosted Database) that provides consumers with
a wide range of combination & control as well as work-in-progress technology
pertaining to Wi-Fi based technology solutions for its lighting products. This acquisition
will be a good addition of innovation in the lighting segment.
Moreover, your company has also shown its intention of forming a Joint
Venture Company that will undertake Research
& Development, product designing, supply chain of multiple product
categories like smart phones, IT Hardware products, IOT based products and other similar
devices that facilitate voice and data communications for domestic and international
market.
To summarize, your Company is looking at a promising future, with its
high revenue potential defined by the largest capacities in India.
Your Company's ranking in terms of market capitalization as on 31st
March, 2023 was 236 at BSE Limited and 234 at National Stock Exchange of India Limited.
Appropriations
The Directors are pleased to recommend a dividend of Rs. 3/- per equity
share of face value of Rs. 2/- each (@150%), payable to those shareholders whose name
appears in the Register of members of your Company as on 22nd September, 2023.
The payment of dividend shall be subject to approval of shareholders at the ensuing Annual
General Meeting ("AGM") to be held on 29th September, 2023. The total
cash outflow on account of the payment of Dividend would be approximately Rs. 17.87
Crores.
The Board of Directors of your Company had approved and adopted the
Dividend Distribution Policy containing all the necessary details as required by the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred
to as "SEBI Listing Regulations"). The Dividend, if approved by the Members will
be paid on or before 30 days from date of Annual General Meeting and in accordance with
the Dividend Distribution Policy, which is available on the website of your Company at
https://dixoninfo.com/json/dixon/codes-policy/Dixon_dividend-distribution-policy.pdf There
has been no change in the said policy during the period under review.
Also, pursuant to the provisions of the Income Tax Act, 1961 as amended
by the Finance Act, 2020, Dividend paid or distributed by the Company on or after 1st
April, 2020 shall be taxable in the hands of the Members. The Company shall therefore,
deduct tax at source (TDS) at the time of making the payment of Dividend to the
shareholders.
The Register of Members and Share Transfer Books of your Company shall
remain closed from 23rd Sep, 2023 to 29th Sep, 2023 (both days
inclusive) for the purpose of payment of dividend for the financial year ended 31st
March, 2023 at the ensuing Annual General Meeting.
Transfer to Reserves
Details with regard to amount transferred to reserves are provided in
the Notes to Financial Statements forming part of this Annual Report.
Share Capital Structure
There has been no increase / decrease in the Authorised Share Capital
of your Company during the year under review.
During the year under review, your Company has allotted 2,18,230 Equity
shares of Rs. 2/- each pursuant to exercise of Employee Stock Options by eligible
employees under Dixon Technologies (India) Limited - Employee Stock Option Plan, 2020.
Consequently, the Paid up, Issued and Subscribed Share Capital of your Company was also
increased. As on 31st March, 2023, the paid up, issued, subscribed share
capital of the Company stands at Rs. 11,91,20,330.
Further, during the period under review, your Company has not bought
back any of its securities / has not issued any Sweat Equity Shares / has not issued any
Bonus Shares/ has not issued shares with Differential Voting rights and there has been no
change in the voting rights of the shareholders.
Employees Stock Options (ESOPs)
Your Company has, from time to time, introduced employee recognition
schemes in the form of ESOPs and such tools have been constructive in acknowledging
employee's contribution to the organization. The objective of the said ESOPs is to
enhance employee motivation, enable employees to participate, directly or indirectly, in
the long-term growth and success of your Company. Also, such tools act as a retention
mechanism by enabling employee participation in the business as its active member.
DIXON TECHNOLOGIES (INDIA) LIMITED- EMPLOYEE STOCK OPTION PLAN- 2020
("DIXON ESOP 2020")
The members of your Company at 27th Annual General Meeting
held on 29th September, 2020 approved DIXON TECHNOLOGIES (INDIA) LIMITED-
EMPLOYEE STOCK OPTION PLAN- 2020
("DIXON ESOP 2020") for the present and/or future
permanent employees of your Company and its present and future subsidiary
Company (ies) ("employees"). The Board had approved
the constitution of ‘share allotment committee' to allot shares, in one or more
tranches to the employees of your Company and its subsidiaries pursuant to exercise of
stock options vested with them in accordance with DIXON ESOP 2020. During the year under
review, the share allotment committee allotted 2,18,230 equity shares of Rs. 2/- each
pursuant to exercise of employee stock options by eligible employees under DIXON ESOP
2020.
DIXON TECHNOLOGIES (INDIA) LIMITED EMPLOYEE STOCK OPTION PLAN-2018
("DIXON ESOP 2018")
At the 25th Annual General Meeting of your Company held on
25th July, 2018, the Members had approved DIXON TECHNOLOGIES (INDIA)
LIMITED-EMPLOYEE STOCK OPTION PLAN, 2018 ("Dixon ESOP 2018"). The Board
had approved the constitution of ‘share allotment committee' to allot shares, in
one or more tranches to the employees of your Company and its subsidiaries pursuant to
exercise of stock options vested with them in accordance with DIXON ESOP 2018. During the
year under review, no shares have been allotted by the Company under DIXON ESOP 2018.
Moreover, the shareholders of the Company at the 29th AGM of
the Company held on 23rd August, 2022 approved the grant of stock options to
the present and future permanent employees of Associate Companies, including Joint Venture
Companies, under Dixon Technologies (India) Limited —Employees Stock Option Plan,
2018 ("DIXON ESOP 2018") and Employee Stock Option Plan, 2020 ("DIXON
ESOP 2020").
Disclosures on details of options granted, shares allotted upon
exercise, etc. as required under the Securities and Exchange Board of India (Share Based
Employee Benefits and Sweat Equity) Regulations, 2021 are set out in Annexure I to
this Report Further, details of options granted and exercised are included in the notes to
accounts forming part of Standalone financial statements.
Credit Ratings
The details of Credit Ratings as provided by ICRA Limited are as
follows:
Type |
Date |
Facility |
Rating |
Remarks |
Bank Loan Facility |
26th August,
2022 Re- afirmed |
Fund based and non-fund
based |
Long term ICRA AA -
(Stable); Short Term ICRA A1+ |
Long term and short term
rating were re-afirmed and assigned for enhanced limits. |
Commercial paper |
26th August,
2022 Re- afirmed |
Commercial Paper |
ICRA A1+ |
Re-afirmed |
During the year under review, there has been no change in the credit
ratings so assigned to the Company.
Investor Education and Protection Fund
During the year under review, your Company was not required to transfer
any funds to Investor Education and Protection Funds (IEPF).
Deposits
During the year under review, your Company has not accepted any
deposits from the public under Section 73 and 76 of the Act and rules made thereunder and
no amount of principal or interest was outstanding as at the end of Financial Year
2022-23. There were no unclaimed or unpaid deposits lying with your Company.
Change in the Nature of Business
There has been no change in the nature of business carried on by your
Company or its subsidiaries during the year under review.
Consolidation of Financials
In compliance with provisions of Section 129 (3) of the Act read with
Companies (Accounts) Rules, 2014, your Company has prepared Consolidated Financial
Statements as per the Indian Accounting Standards on Consolidated Financial Statements
issued by the Institute of Chartered Accountants of India. The Audited Consolidated
Financial Statements along with the Auditors' Report thereon forms part of this
Annual Report.
Subsidiaries, Joint Ventures or Associate Companies and their financial
performances
1. Dixon Global Private Limited
Dixon Global Private Limited ("DGPL") is a 100% subsidiary of
your Company.
DGPL is authorised to carry on agency business in all its branches and
to act as agents for Indian and Foreign principals to, inter-alia, sale, purchase, import
and export of electrical appliances and gadgets of all kinds.
DGPL reported a loss of Rs. 64.68 Lakhs in F.Y. 2022-23
(previous year profit: Rs. 131.20 Lakhs).
2. Padget Electronics Private Limited
Padget Electronics Private Limited ("PEPL") is a 100%
Subsidiary of your Company.
PEPL is engaged in the business of manufacturing, selling, exporting,
repairing or dealing in mobile phones of all kinds and related components, parts, spares,
devices and accessories.
PEPL reported a profit of Rs. 3773.55 Lakhs in F.Y. 2022-23
(previous year profit: Rs. 2865.35 Lakhs).
3. AIL Dixon Technologies Private Limited
AIL Dixon Technologies Private Limited. ("ADTPL") is a Joint
Venture Company of your Company wherein 50% of the shareholding is held by your Company
and remaining 50% is held by Aditya Infotech Limited.
ADTPL is principally engaged in the business of assembling,
manufacturing and selling CCTV security cameras, DVRs, IP cameras, cables, power supply,
video door phones, bio metrics and allied products.
ADTPL reported a Profit of Rs. 1900.11 Lakhs in F.Y. 2022-23
(previous year profit: Rs. 1798.54 Lakhs).
4. Dixon Electro Appliances Private Limited
Dixon Electro Appliances Private Limited ("DEAPL") is a joint
venture of your Company wherein 51% of the shareholding in DEAPL is held by your Company
and remaining 49% of the shareholding is held by Beetel Teletech Limited, thus making
DEAPL a subsidiary of your Company.
DEAPL is principally engaged in the business of manufacturing of
telecom and networking products.
It has reported a loss of Rs. 169.69 Lakhs in F.Y. 2022-23
(previous year profit: Rs. 102.35 Lakhs)
5. Dixon Electro Manufacturing Private Limited
Dixon Electro Manufacturing Private Limited ("DEMPL") is a
100% Subsidiary of your Company. DEMPL is engaged in the business of manufacturing of
consumer durables devices.
It has reported a loss of Rs. 1.02 Lakhs in F.Y. 2022-23 (previous year
loss: Rs. 21.27 Lakhs)
6. Dixon Technologies Solutions Private Limited
Dixon Technologies Solutions Private Limited ("DTSPL") is a
100% Subsidiary of your Company. DTSPL is engaged in the business of manufacturing and
deal in, inter-alia, consumer durables devices and electronics appliances.
It has reported a loss of Rs. 8.25 Lakhs in F.Y. 2022-23 (previous year
loss: Rs. 2.63 Lakhs)
7. Rexxam Dixon Electronics Private Limited
Rexaam Dixon Electronics Private Limited ("Rexxam Dixon") is
the Joint venture of your Company wherein 40% of the shareholding is held by your Company
and remaining 60% of the shareholding is held by Rexxam Co. Ltd. Rexxam Dixon is engaged
in the business of manufacturing PCBs for air conditioners.
It has reported a profit of Rs. 588.55 Lakhs in F.Y. 2022-23
(previous year loss: Rs. 14.86 Lakhs)
8. Califonix Tech and Manufacturing Private Limited
CalifonixTechandManufacturingPrivateLimited("Califonix") is a
Joint venture of your Company wherein 50% of the shareholding is held by your Company and
remaining 50% of the shareholding is held by Imagine Marketing Limited. Califonix is
engaged in the business of manufacturing of Bluetooth enabled audio devices.
During FY 2022-23, it has reported a loss of Rs. 146 Lakhs.
9. Dixtel Communications Private Limited
Dixon Communications Private Limited ("Dixtel") is a 100%
Subsidiary of your Company and has been incorporated on 22nd February, 2023.
The Company is yet to commence its business.
It has reported a loss of Rs. 0.12 Lakhs in FY 2022-23.
A statement containing the salient features of the Financial Statement
of the Subsidiaries and Joint Venture Companies in the prescribed format AOC-1 forms part
of the Consolidated Financial Statements of your Company.
In accordance with Section 136 of the Act, the Audited Financial
Statements including the Consolidated Financial Statements and related information of your
Company and audited accounts of Subsidiaries are available on the website of your Company
at www.dixoninfo.com.
None of the above named Subsidiaries and Joint venture Companies apart
from AIL Dixon Technologies Private Limited ("ADTPL") had declared any Dividend
during the Financial Year 2022-23. AIL Dixon declared an Interim dividend of Rs. 3/- per
equity share of Rs. 10/- each amounting to Rs. 5.70 Crores.
During the year, Padget Electronics Private Limited wholly owned
subsidiary of your Company, was a material subsidiary, as per SEBI Listing Regulations. In
terms of the provisions of Regulation 24(1) of the SEBI Listing Regulations, appointment
of one of the Independent Directors of your Company on the Board of material subsidiaries
was applicable only to said wholly owned subsidiary.
Independent Audit Report of the material subsidiary is available on the
website of your Company. The Secretarial Audit report of the material subsidiary does not
contain any qualification, reservation or adverse remark or disclaimer. The Company
monitors performance of subsidiary companies, inter alia, by the following means:
• Financial statements, in particular investments made by
subsidiary companies, are reviewed quarterly by your Company's Audit Committee;
• Minutes of Board meetings and Committee(s) of subsidiary
companies are placed before the Company's Board regularly;
• A statement containing all significant transactions and
arrangements entered into by subsidiary companies is placed before the Company's
Board;
The Company's Policy for determining Material Subsidiaries is
available on the website of the Company and can be accessed at
https://dixoninfo.com/json/dixon/codes-policy/ Policy%20on%20Material%20Subsidiary.pdf
Furthermore, pursuant to Regulation 24A of SEBI Listing Regulations,
read with Guidance note on Annual Secretarial Compliance Report issued by Institute of
Company Secretaries of India, the Secretarial Audit report (MR-3) of Material Subsidiary
i.e Padget Electronics Private Limited forms part of the Annual Report.
Particulars of Loans, Guarantees or Investments Made U/S 186 of the Act
Particulars of loans, guarantees given and investments made during the
year in accordance with Section 186 of the Act forms part of the notes to the Financial
Statements provided in this Annual Report. All the loans, guarantees & securities are
given and investments are made for the Business purpose.
Related Party Transaction
In line with the requirements of the Act and SEBI Listing Regulations,
your Company has formulated a Policy on Related Party Transactions which is also available
on the Company's website at https://dixoninfo.com/json/dixon/codes-policy/
Dixon_Related-Party-Transaction-Policy.pdf . The policy intends to ensure that proper
reporting, approval and disclosure processes are in place for all transactions between
your Company and Related Parties. The said policy was last amended on. 23.05.2023.
All the related party transactions are placed and approved before the
Audit Committee and also the Board for approval, as per applicable provisions of law.
Prior omnibus approval of the Audit Committee is obtained as per SEBI Listing Regulations
for the transactions which are foreseen and are repetitive in nature.
Further, during the year, your Company has not entered into contract or
arrangement or transaction with the Related Parties which could be considered material in
accordance with the Policy of the Company on materiality of Related Party Transactions and
as per the SEBI Listing Regulations. These transactions are in the ordinary course of
business and are on arm's length basis. In view of the above, disclosure in Form
AOC-2 is not applicable.
For details on Related Party Transactions, you may refer Notes to
financial statements forming part of the Annual Report.
Material Changes and Commitments affecting the Financial Position of
your Company and Material Changes between the Date of the Board Report and End of the
Financial Year
There have been no material changes and commitments affecting the
financial position of the Company which have occurred between the end of the Financial
Year of your Company to which the Financial Statements relate and the date of Board
Report.
During the year, your Company had entered into the following strategic
decisions as per following details:
1. Your Company has also signed an agreement with Google to sub-license
rights relating to Android and Google TV. Post the entering of the Agreement, your Company
has become the first contract manufacturer in India to get the sub-licensing rights.
2. Your Company signed an agreement with Ibahn Illumination Private
Limited wherein your Company has acquired Technology Solutions-BLE Mesh Smart Lighting
App, Firmware, Hardware, Cloud Hosted Database) and Wifi based technology solutions for
its lighting products from Ibahn.
3. Your Company has also signed Term Sheet with Mega Alliance Holdings
Limited (Part of Tinno Group) to form a prospective joint venture arrangement, subject to
necessary government approvals for designing and manufacturing of mobile communication
equipment and related solutions in India. It is proposed that your Company shall hold 51%
shareholding in such prospective Joint Venture arrangement.
Future Outlook
The Company acknowledges the significant opportunities presented by the
robust growth trends in the Indian Electronics Manufacturing Services (EMS) sector. Within
this thriving environment, the Company aims to deepen its involvement in end-user
applications, particularly in computers and information technology (IT), which constitute
around 36% of the global EMS market. Moreover, the trend towards work-from-home culture is
expected to bolster demand for IT hardware and related electronic appliances, thereby
presenting additional growth avenues for the Company.
Technological advancements in the field of 5G infrastructure are poised
to open new possibilities for electronic devices, especially in the domain of mobility and
communication. Given the Company's focus on innovation and its readiness to adapt, these
technological shifts present a clear opportunity. Subsequently, the Company plans to
explore this sector through alliances and investments, focusing on cloud-based solutions
that could redefine automotive infotainment systems.
Additionally, the Company is encouraged by India's projected market
share in the global EMS landscape, which is expected to quadruple by CY26. This rapid
scaling is predominantly driven by the growing appetite for electronics, not just in the
urban centres but also in Tier 2 and Tier 3 cities. The expansion of organised retail in
these areas is seen as a beneficial factor, offering the Company a channel for wider
market penetration.
Another growth driver that the Company is keenly monitoring is the rise
of eco-conscious consumer behaviour, which has spurred the demand for clean energy
solutions and environmentally sustainable electronics. Consequently, the Company has set
its sights on these emerging sectors, with a focus on renewable energy components and
waste-reducing technologies, aligned with global sustainability initiatives.
Moreover, the Company takes note of the progressive government
initiatives aimed at fortifying domestic electronics manufacturing. The incentives and
policies in place are expected to make India one of the most attractive manufacturing
destinations, a scenario that could substantially augment the Company's growth trajectory.
Corporate Governance
The corporate governance philosophy of your Company is drived by the
interest of the stakeholders and focuses on the fairness, transparency and business needs
of the organization. Your Company believes that executing strategy effectively and
generating shareholder value over the long term requires high standards of corporate
governance.
To ensure good corporate governance, your Company ensures that its
governance framework incorporates the amendments introduced in the SEBI Listing
Regulations from time to time and the same are complied with on or before the effective
date.
Company always take constant efforts to set new benchmarks in corporate
excellence. In terms of SEBI Listing Regulations, a separate section on "Corporate
Governance" with a compliance report on corporate governance and a certificate from
M/s. Shirin Bhatt & Associates, Company Secretaries, Secretarial Auditors of the
Company regarding compliance of the conditions of Corporate Governance, has been provided
in this Annual Report. A Certificate of the CEO and CFO of the Company in terms of SEBI
Listing Regulations, inter-alia, confirming the correctness of the financial statements
and cash flow statements, adequacy of the internal control measures and reporting of
matters to the Audit Committee, is also annexed.
Board of Directors, Its Committees and Meetings thereof
The Board of Directors (the "Board") are responsible for and
committed to sound principles of Corporate Governance in your Company.
The Board's focus is on the formulation of business strategy,
policy and control. Matters reserved for the Board are those affecting your Company's
overall strategic policies, finances and shareholders. These include, but are not
restricted to, deliberation of business plans, risk management, internal control,
preliminary announcements of interim and final financial results, dividend policy, annual
budgets, major corporate activities such as strategic decisions and connected
transactions.
The Board has delegated part of its functions and duties to Executive
committee and day-to-day operational responsibilities are specifically delegated to the
management.
Your Company has a professional Board with right mix of knowledge,
skills and expertise with an optimum combination of Executive, Non-Executive and
Independent Directors including one Woman Director. The Board provides strategic guidance
and direction to your Company in achieving its business objectives and protecting the
interest of the stakeholders. Your Board is also supported by Eight Committees Viz. Audit
Committee, Nomination
& Remuneration Committee, Corporate Social Responsibility
Committee, Stakeholders' Relationship Committee, Executive Committee of the Board,
Risk Management Committee, Share Allotment Committee and Research & Development
Committee.
Your Company holds minimum of 4 (four) Board meetings in each calendar
year with a gap of not more than one hundred and twenty days between any two consecutive
Meetings. Additional meetings of the Board/ Committees are convened as may be necessary
for proper management of the business operations of your Company.
The agenda and Notice for the Meetings is prepared and circulated in
advance to the Directors. The Board of Directors of your Company met 6 (six) times during
the Financial Year 2022-23 i.e. on 27th May, 2022, 30th May, 2022,
27th July, 2022, 20th October, 2022, 25th January, 2023
and 23rd March, 2023.
The required quorum was present at all the meetings. The intervening
gap between any two meetings was not more than one hundred and twenty days as prescribed
by the Companies Act, 2013 ("Act").
A detailed update on the Board & its Committees, composition
thereof, number of meetings held during Financial Year 2022-23 and attendance of the
Directors at such meeting is provided in the section "Board of Directors" of
"Corporate Governance Report".
Committees of the Board
The Board had duly constituted following Committees, which are in line
with the provisions of applicable laws:
a. Audit Committee b. Nomination and Remuneration Committee c.
Corporate Social Responsibility Committee d. Stakeholders' Relationship Committee e.
Risk Management Committee f. Executive Committee g. Share Allotment Committee
h. Research & Development Committee
A detailed update on the composition, number of meetings, attendance
and terms of reference of aforesaid Committees are provided in the section
"Committees of the Board" of "Corporate Governance Report".
Management Discussion and Analysis Report
The Management Discussion and Analysis Report for the year under review
as stipulated under SEBI Listing Regulations with the Stock Exchanges in India is
presented in a separate section forming part of this Annual Report.
Vigil Mechanism
Pursuant to the provisions of Section 177(9) of the Act and rules made
thereunder and Regulation 22 of the SEBI Listing Regulations, Your Company has established
a vigil mechanism through which directors, employees and business associates may report
unethical behaviour, malpractices, wrongful conduct, fraud, violation of Company's
code of conduct, leak or suspected leak of unpublished price sensitive information without
fear of reprisal. The directors, employees, business associates have direct access to the
Chairman of the Audit committee. The vigil mechanism has been explained in detail in the
"Corporate Governance Report".
Risk Management Committee/ Policy
Your Company has adopted risk management policy, which covers five
aspects: Strategic risks, Operational Risks, Compliance Risks, Financial &, Reporting
Risks, Sustainability Risks and Cyber Security Risks. Major risks identified by the
businesses and functions are systematically addressed through mitigating actions on a
continuing basis.
In line with the SEBI Listing Regulations, your Company has formed a
Risk Management Committee to monitor the risks and their mitigating actions. The details
of Risk Management Committee are provided in the Corporate Governance report.
Risk Management is also an integral part of your Company's
business strategy. Business Risk Evaluation and Management is an ongoing process within
the Organization. The same is available on the website of the Company and can be accessed
at: https://dixoninfo.com/json/dixon/codes-policy/Risk%20
Management%20Policy%20-%2018062022.pdf.
Also, to address IT related concerns like cyber threats and data
vulnerability, your Company has a robust IT system and firewalls to mitigate any threats
and risks. The Company takes the below mentioned steps to ensure the privacy and data
security of users:
a. Using firewalls on the network.
b. Antivirus is installed on each system to protect from viruses,
anti-malware, adware, worms and Trojans.
c. Company has a Strong password policy.
d. Automatic backup is scheduled for critical users.
e. Educating users by sending Information like Security Policy of the
Company and email awareness mail periodically. f. External drives are blocked. g. Data
Linkage Protection (DLP) installed across all systems.
In the opinion of the Board, there are no risks that may threaten the
existence of your Company.
Adequacy of Internal Controls systems and Compliance with Laws
Your Company has an adequate and effective system of internal controls
commensurate with the nature of its business and the size and complexity of its
operations. These controls have been designed to provide a reasonable assurance over
effectiveness and efficiency of operations, prevention and detection of frauds and errors,
safeguarding assets from unauthorized use or losses, compliance with applicable laws and
regulations, accuracy and completeness of the accounting records, timely preparation of
reliable financial information. Your Company has an independent internal audit function
supported by dedicated outsourced teams. Every quarter, the Audit Committee of the Board
is presented with key concerns and the actions taken by your Company on concerns
highlighted. Also, the Audit Committee, provide their observation, suggestions and
recommendations and seek Action Taken Reports from Management of the Company. The said
Committee regularly at its meeting, reviews the status of such Action Taken Reports. In
order to supplement the Internal Control process, your Company has engaged the services of
M/s Ernst & Young LLP and M/s Protiviti India Member Private Limited (For Mobile
Vertical) to function as Internal Auditors of the Company. Also, the Corporate Affairs
Department ensures that your Company conducts its businesses with high standards of
compliance in legal, statutory and regulatory areas. Your Company has implemented an
online Legal Compliance Management System in conformity with the best Industry standards
which gives the compliance status on real time basis.
The Internal Auditors of your Company have direct access to the Audit
Committee of the Board. Furthermore, the Internal Auditors are also responsible for
following up the corrective actions to ensure that satisfactory controls are maintained.
Significant and Material Orders Passed by the Regulators or Courts or
Tribunals Impacting the Going Concern Status and Company's Operations in Future
During the year under review, there has been no such Significant and
Material Orders passed by the Regulators or courts or tribunals impacting the going
concern status and your Company's operations in future.
Also, there had been no application filed for Corporate insolvency
resolution process under "The Insolvency and Bankruptcy Code, 2016", by a
Financial or operational creditor or by your Company itself during the period under
review.
There was no instance of onetime settlement with any Bank or Financial
Institution.
Annual Return
The Annual Return of your Company for the FY 2022-23 in form MGT-7 in
accordance with the Section 92 of the Act read with the Companies (Management and
Administration) Rules, 2014 shall be placed on the website at www.dixoninfo.com in due
course.
The link to access Annual Return for previous Financial year 2021-22 is
https://dixoninfo.com/json/dixon/annual-general-meeting/
Signed%20MGT-7%20of%20DTIL%20FY%202021-22.pdf
Directors and Key Managerial Personnel who were Appointed/Re-appointed
or have resigned during the Year
Directors
During the year under review there has been no change in the
composition of Board of Directors of the Company. During the year under review, Mr. Atul
B. Lall (DIN: 00781436), Vice Chairman and Managing Director was liable to retire by
rotation and being eligible offered himself for re-appointment and he was suitable
appointed by the shareholders at the 29th Annual General Meeting.
Key Managerial Personnel ("KMPs")
Pursuant to the provisions of Section 203 of the Act, as on 31st
March, 2023 Mr. Sunil Vachani, Executive Chairman & Whole Time Director, Mr. Atul B
Lall, Vice Chairman & Managing Director, Mr. Saurabh Gupta, Chief Financial Officer
and Mr. Ashish Kumar, Chief Legal Counsel & Group Company Secretary of the Company are
the KMPs of your Company.
There was no change in the KMP of the Company during the period under
review.
Directors Liable to Retire by Rotation
In accordance with the provisions of the Act, not less than 2/3rd
(Two-third) of the total number of Directors (other than Independent Directors) shall be
liable to retire by rotation. Accordingly, pursuant to the Act read with Articles of
Association of your Company, Mr. Sunil Vachani (DIN: 00025431) is liable to retire by
rotation and, being eligible, offers himself for reappointment.
Declaration of Independent Directors of the Company
As on date of this report, the Board comprises of 7 (seven) Directors.
The composition includes 5 (five) Independent Directors. All the Independent Directors are
appointed on the Board of your Company in compliance with the applicable provisions of the
Act and SEBI Listing Regulations.
Your Company has received declarations from all the Independent
Directors confirming that they meet/continue to meet, as the case may be, the criteria of
Independence under sub-section (6) of section 149 of the Act and Regulation 16(1) (b) of
the SEBI Listing Regulations.
Also, the Independent Directors have complied with the Code for
Independent Directors prescribed in Schedule IV of the Act and have confirmed that they
are in compliance with the Code of Conduct for Directors and Senior Management personnel
formulated by the Company.
The Independent Directors have also confirmed that their names are
registered in the databank as mentioned by the Indian Institute of Corporate Affairs
("IICA").
Familiarization Programme for the Independent Directors
In compliance with the requirements of the SEBI Listing Regulations,
your Company has put in place a familiarization programme for the Independent Directors to
familiarize them with their roles, rights and responsibility as Directors, working of the
Company, nature of the industry in which the Company operates, business model etc. The
details of the familiarization programme are explained in the Corporate Governance Report.
The same is also available on the website of the Company and can be accessed at web link
https://dixoninfo.com/json/dixon/ codes-policy/Familiarization%20Programme%20For%20
Independent%20Directors.pdf.
Board and Director's Evaluation
Pursuant to the provisions of the Act and the SEBI Listing Regulations,
Annual evaluation of the Board, its Committees and individual directors has been carried
out on the basis of Guidance Note on Board Evaluation issued by Securities and Exchange
Board of India ("SEBI").
To facilitate the evaluation process, Board and its Committee's
self-evaluation questionnaires were circulated to the Board members and respective
Committee members and an online link was also provided to the Board members and respective
Committee members wherein an option was provided to the Board and committee members to
fill in the said questionnaires online.
Basis the results of the aforesaid questionnaire and feedback received
from the Directors and respective Committee members, the performance evaluation of the
Independent Directors were carried out by the entire Board excluding the Director being
evaluated. The performance evaluation of the Executive Chairman, Vice Chairman and
Managing Director was carried out by the Independent Directors. The directors have
expressed their satisfaction with the evaluation process.
Separate Meeting of Independent Directors
Pursuant to Schedule IV to the Act and SEBI Listing Regulations one
meeting of Independent Directors was held during the year i.e. on 23th March,
2023, without the attendance of non- independent Directors and members of Management.
In addition, the Executive Directors of the Company provide regular
updates of Business plan and strategies to Independent Directors, in detail, on a regular
basis.
Auditors & Auditors' Report
Statutory Auditors
M/s S. N. Dhawan & Co
LLP |
M/s S. N. Dhawan & Co
LLP (Firm registration number: 000050N/N500045) were appointed as Statutory Auditors of
your Company at the Annual General Meeting held on 25th July, 2018, for a term
of five consecutive years. The re-appointment of the said auditors has been approved by
the Board at its meeting held on 23rd May, 2023 subject to approval of the
shareholders at ensuing Annual General Meeting. The Independent Auditors Report given by
the Auditors on the financial statement (Standalone and Consolidated) of your Company
forms part of this Annual Report. There has been no qualification, reservation, adverse
remark or disclaimer given by the Auditors in their Report. |
Secretarial Auditors |
Pursuant to the provisions of Section 204
of the Act and the Companies (Appointment and Remuneration |
| M/s Shirin Bhatt & |
of Managerial Personnel) Rules, 2014, the
Board of Directors of your Company at its meeting held |
| Associates, Practicing |
on 27th May, 2021 had appointed
M/s Shirin Bhatt & Associates, Practicing Company Secretaries to |
Company Secretaries |
undertake the Secretarial
Audit of the Company for the Financial Year 2021-22 and onwards. The Secretarial Audit
Report is annexed herewith as Annexure – II. The said Secretarial Audit report for
the FY 2022-23 does not contain any qualification, reservation or adverse remark |
Cost Auditors- |
In terms of the Section 148 of the Act
read with Companies (Cost Records and Audit) Rules, 2014, your |
M/s Satija & Co, Cost
Accountants |
Company is required to
maintain cost accounting records and get them audited every year from Cost Auditor and
accordingly such accounts and records are maintained by your Company. The Board of
Directors appointed M/s Satija & Co., Cost Accountants, as Cost Auditors to audit the
cost accounts of your Company for the Financial Year 2023-24 at its meeting held on 23rd
May, 2023. The Cost Audit Report for the FY 2022-23 will be filed by the Company with the
Ministry of Corporate Affairs, in due course. |
Internal Auditors- |
|
1. M/s Ernst & Young
LLP |
M/s Ernst & Young
LLP., are acting as Internal Auditors of the Company to conduct the Internal Audit for the
Financial Year 2021-22 and onwards, appointed at the Board Meeting held on 27th
May, 2021. During the period under review, M/s Ernst & Young LLP., performed the
duties of internal auditors of your Company and their report is reviewed by the Audit
Committee. |
2. M/s Protiviti India
Member Private Limited |
M/s Protiviti India Member
Private Limited based on the recommendations of the Audit Committee, was appointed as the
Internal Auditors for the Mobile Vertical of the Company on 27th July, 2022 for
the FY 2022-23 and onwards. During the period under review, M/s Protiviti India Member
Private Limited, performed the duties of internal auditors of your Company and their
report is reviewed by the Audit Committee. |
Corporate Social Responsibility (CSR)
Your Company has been constantly working towards promoting the welfare
of the under-represented and underserved communities and aspire to add value to the
communities in which we operate through our efforts. Your Company invests in the areas of
education, healthcare, welfare of helpless old and other oppressed people of society,
inclusion and livelihood through non-profits and social enterprises. Your Company's
constant endeavour has been to support initiatives in the chosen focus areas of CSR.
Your Company has a duly constituted CSR Committee, which is responsible
for fulfilling the CSR objectives of your Company. The composition of CSR committee is as
stated in the "Committees of the Board" section of "Corporate Governance
Report".
The Board of Directors have adopted a CSR policy which is in line with
the provisions of the Act. The CSR Policy of your Company lays down the philosophy and
approach of your Company towards its CSR commitment. The policy can be accessed at the
following link: https://dixoninfo.com/json/dixon/codes-policy/
Corporate-Social-Responsibility-Policy.pdf
Annual Report on Corporate Social Responsibility Activities of your
Company is enclosed as Annexure – III and forms a part of this report.
Business Responsibility and Sustainability Report (BRSR)
Your Company has been yearly publishing its Business Responsibility
Report (BRR) as a part of Annual Report and providing information on the various
initiatives taken with respect to environmental, social and governance perspectives, in
accordance with the directives of SEBI issued from time to time.
Further, SEBI vide notification issued in May 2021 has introduced a new
sustainability related report "Business Responsibility and Sustainability
Report" (BRSR), which has replaced the existing
BRR. The BRSR is a notable departure from the existing BRR and a
significant step towards bringing sustainability reporting at par with the financial
reporting. BRSR Reporting has become mandatory for the top 500 listed entities based on
market capitalization from FY 2022-23, therefore, pursuant to Regulation 34 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015, the BRSR for the
financial year ended 31st March 2023 in the prescribed format, giving an
overview of the initiatives taken by the Company from an environmental, social and
governance perspective, forms part of this Annual Report. as Annexure-IV.
Environmental, Social and Governance ("ESG")
As a responsible corporate citizen, the Company is acutely aware of its
environmental and societal responsibilities. The Company firmly embraces the conviction
that the integration and adherence to Environmental, Social, and Governance (ESG)
principles within business operations are paramount in fostering resilience, nurturing an
inclusive culture, and generating enduring value for all stakeholders. Sustainability lies
at the core of business philosophy.
The Company's sustainability strategy comprehensively addresses
key ESG factors that exert significant influence over our business operations and
stakeholders. The Company meticulously assess opportunities and risks, formulating both
short-term, medium term and long-term strategies to ensure the sustainable growth of our
organization.
Conservation of Energy, Technology, Absorption and Foreign Exchange
Earnings and Outgo
The particulars as prescribed under Section 134(3)(m) of the Act, read
with Rule 8 of the Companies (Accounts) Rules, 2014, are set out in Annexure- V
Green Initiative
Your Company has implemented the "Green Initiative" to enable
electronic delivery of notice/documents/ annual reports to shareholders. Electronic copies
of the Annual Report for the F.Y. 2022-23 and notice of the 30th Annual General
Meeting are being sent to all members whose e-mail addresses are registered with the
Company/Depository Participant(s) as on the record date i.e. 1st September,
2023. For members, who have not registered their e-mail addresses are requested to update
your e-mail ids with your respective Depository Participants in order to contribute to
aforesaid Green Initiative Programme
Pursuant to the provisions of Section 108 of the Act and rules made
thereunder, your Company is providing e-voting facility to all members to enable them to
cast their votes electronically on all resolutions set forth in the Notice of 30th
Annual General Meeting beginning from 9:00 a.m. on 26th September, 2023
(Tuesday) till 5:00 p.m. on 28th September, 2023 (Thursday). The instructions
for e-voting are provided in the Notice of the Annual General Meeting. In furtherance of
the aforesaid principle of "Green Initiative", your Company has decided to
forego the practice of printing financial statements of its subsidiary as part of the
Company's Annual Report with a view to help the environment by reducing paper
consumption. However, the audited financial statements of the subsidiary(ies) along with
Auditors' Report thereon are available on our website www. dixoninfo.com
Human Resources
Your Company employs 12,757 Individuals (including third party
contractual employees) which is its most valuable asset, which propel the Company forward
through their competencies, skills, and knowledge. The Company provides to its employees a
supportive and safe working environment at the workplace. To foster a caring community,
the Company recognises that having good staff relations and a motivated workforce plays a
vital role in the Company's efficient operations. Your Company has always promoted
employees (including workers) to actively participate in various engagement activities
which the company organizes every month. The Human Resource Department creates a yearly
engagement calendar and monitors it on monthly basis. Last year company organized multiple
engagement activities for its employees. Some of the employee engagement activities are
showcased below:
1. 2 Days Yoga Workshop
2. Harith @ Dixon wherein 1001 trees were planted inside and outside
Dixon Tirupati Campus
3. Health, Eye, Dental and Dietician Camps
4. Self Defence Workshop for female employees
5. Monthly Birthday celebrations
6. Workshop on 351 mindset to improve life
7. Corporate Family Day
Welfare arrangements for employees (Health check-ups, etc.)
From time to time your company has been organizing Health, Eye, Dental
and Dietician camps for its employees to inculcate the importance of health in every
day's life and your Company has also ensured that every employee/worker should have
mediclaim coverage. All these camps have been organized free of cost for its employees.
Measures taken to motivate employees:
ESOP's is one of the way of motivating the employee that is
generally given based on the performance of the individual. Every month, "Best
Operator" and "Best Supervisor" award is being given to the Best performer
of the unit across all locations. Learning and Development is considered to be one of the
important aspects of the organization and the units are motivated by rewarding the top 3
units with certificate of merit.
Your Company believes in work diversity and ensures that it has a mixed
workforce irrespective of caste, creed, religion and gender. Your Company has
representation from all sects of the society thereby ensuring diversity in workforce. Your
company has representation of women at workplace. In few of our units, we have only women
workforce who runs the entire production line. Similarly, in some of our units, your
Company has good strength of women workforce in the shop floor. Your Company believes in
equal pay parity irrespective of gender. All the workforce is paid based on their skill
level.
Your Company is aiming to become more inclusive and therefore the
promotion of gender diversity has been one of the key features of our talent strategy.
From setting a specific target to improve women's participation in the workforce for
the next three years to implementing programs and policies that improve worker diversity,
your company has clear objectives to improve worker engagement and build trust. Your
Company has a ‘Zero Tolerance' policy towards any kind of discrimination and
harassment at the workplace. We are an equal opportunity employer providing equal
remuneration for women and men.
Awards and Accreditations
Your Company has also been awarded with the "North India Best
Employer Award 2022" at the 17th Employer Branding Awards. As per the
Great Place to Work ("GPTW") survey results, your Company has been certified as
"GREAT PLACE TO WORK" from November 2022 till November 2023.
Also, Mr. Atul B. Lall, Vice Chairman and Managing Director of the
Company has been bestowed with the ‘Man of Electronics Award, 2022' by CEAMA.
Particulars of Employees and Remuneration
The disclosures pertaining to remuneration and other details of
Directors and employees as required under Section 197(12) of the Act read with Rule 5 of
the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 have been
provided in the annexure forming part of this report. Having regard to the provisions of
Section 136(1) read with relevant provisions of the Act, the Annual Report excluding the
aforesaid information is being sent to the members of the Company. The said information is
available for inspection at the Registered Office of the Company during working hours and
any member interested in obtaining such information may write to the
Company Secretary or alternatively write to the Company at
investorrelations@dixoninfo.com and the same will be furnished to the members.
Also, during the year under review, Mr. Sunil Vachani and Mr. Atul B.
Lall have received consultancy fees until January, 2023, amounting to Rs. 20,00,000/- and
Rs. 10,00,000/- respectively, from Padget Electronics Private Limited for providing their
expertise in the field of EMS to Padget Electronics Private Limited, however, payment of
such consultancy fees has been discontinued from 1st February, 2023.
Director's Appointment and Remuneration Policy
Your Company's policy on directors' appointment and
remuneration, including criteria for determining qualifications, positive attributes,
independence of a director and other matters provided under sub section (3) of Section 178
of the Act, as is adopted by the Board.
Your Company has adopted a comprehensive policy on nomination and
remuneration of Directors and Key Managerial Personnel on the Board. As per such policy,
candidates proposed to be appointed as Directors and Key Managerial Personnel on the Board
shall be first reviewed by the Nomination and Remuneration Committee in its duly convened
Meeting. The policy can be accessed at the following Link: https://dixoninfo.
com/json/dixon/codes-policy/nomination-and-remuneration-policy-1908.pdf.
Disclosures under Sexual Harassment of Women at Workplace (Prevention,
Prohibition & Redressal) Act 2013 Read with Rules
Your Company has always believed in providing a safe and harassment
free workplace for every women employee working with your Company. Your Company always
endeavours to create and provide an environment that is free from discrimination and
harassment including sexual harassment.
Your Company has a zero tolerance for sexual harassment at workplace
and, therefore, has in place a policy on prevention of sexual harassment at workplace. The
said policy is in line with the provisions of the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013 and the Rules thereunder.
The policy aims at prevention of harassment of women employees
contractors and lays down the guidelines for identification, reporting and prevention of
sexual harassment. Your Company has complied with the provisions relating to the
constitution of the lnternal Complaints Committee (ICC) and the same has been duly
constituted in compliance with the Sexual Harassment of Women at workplace (Prevention,
Prohibition and Redressal) Act, 2013. The said Committee is responsible for redressal of
complaints related to sexual harassment and follows the guidelines provided in the policy.
The following is a summary of sexual harassment complaints received and
disposed of during the year:
No. of complaints received: 0 No. of complaints disposed of: NA No. of
complaints pending: 0
Also,theCompanyhadorganizedtrainingprogrammesconcerning sexual
harassment from time to time, for its employees and staff. The said training programmes
and workshop were helpful in creating necessary awareness and to encourage cooperative
environment in the organisation. From time to time the Internal Complaints Committee
organises awareness sessions at the manufacturing facilities of the Company. During the
year under review, the Company organised 113 workshops or awareness programmes on sexual
harassment (from 1st January, 2022 till 31st December, 2022).
Reporting of Fraud By auditors
There have been no instances of fraud reported by the Statutory
Auditors or Internal Auditors under Section 143(12) of the Act and Rules framed thereunder
either to the Audit Committee, the Board of Directors or to the Central Government.
Disclosure in Respect of Voting Rights not Exercised Directly By
Employees
No disclosure is required under Section 67(3) of the Act, in respect of
voting rights not exercised directly by the employees of the Company as the provisions of
the said Section are not applicable.
Compliance of Applicable Secretarial Standard
During the financial year under review, your Company has duly complied
with all the applicable Secretarial Standards issued by the Institute of Company
Secretaries of India.
Listing on Stock Exchanges
The Company's shares are listed on BSE Limited ("BSE")
and the National Stock Exchange of India Limited ("NSE").
Directors Responsibility Statement
In terms of Section 134(5) of the Act, your directors hereby confirm
that: a. in the preparation of the annual accounts for the financial year ended 31st
March, 2023, the applicable accounting standards have been followed along with proper
explanation relating to material departures
b. the directors have selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable and prudent so as
to give a true and fair view of the state of affairs of the Company at the end of the
financial year and of the profit and loss of the Company for that period;
c. the directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the provisions of the
Companies Act, 2013, for safeguarding the assets of the Company and preventing and
detecting fraud and other irregularities;
d. the directors have prepared the annual accounts for the financial
year ended 31st March, 2023, on a going concern basis;
e. the directors, had laid down internal financial controls to be
followed by the company and that such internal financial controls are adequate and were
operating effectively;
f. the directors have devised proper systems to ensure compliance with
the provisions of all applicable laws and that such systems are adequate and operating
effectively.
Key Financial Ratios
The Key financial ratios for the financial year ended 31st
March, 2023 forms part of the Management Discussion and Analysis Report.
Acknowledgment
The Board of Directors would like to express their sincere appreciation
for the assistance and co-operation received from the financial institutions, banks,
Government authorities, customers, vendors and members during the year under review. The
Boards of Directors also wish to place on record its deep sense of appreciation for the
committed services by the Company's executives, staff and workers.
By the order of the Board
For Dixon Technologies (India) Limited
|
Sd/- |
Sd/- |
|
Sunil Vachani |
Atul B. Lall |
| Date: 25th July, 2023 |
Executive Chairman |
Vice Chairman &Managing Director |
| Place: Noida |
DIN:00025431 |
DIN:00781436 |