Dixon Technologies (India) advanced 1.08% to Rs 12,519.50 after the company's wholly owned subsidiary, Padget Electronics (Padget) has entered into an MOU with HP India Sales for manufacturing electronic gadgets.
HP is a leading global provider of personal computing and other digital access devices, imaging and printing products, and related technologies solutions and services.Under this agreement, Padget Eelectronics will manufacture notebooks, desktops, and all-in-one PCs.
Atul B Lall, vice chairman and managing director of Dixon Technologies (India), said, It gives us immense pleasure to partner with the iconic brand HP to manufacture PCs under PLI 2.0. HP is a leading global player in their field known for their technologically advanced products with a worldwide presence in more than 170 countries.
We are sure that with HPs vision and rigorous industry-leading processes, combined with our expertise in manufacturing, we will be able to bring a range of HP personal systems to Indian customers.
Ipsita Dasgupta, managing director, HP India, said, We are excited to announce HP's partnership with Dixon Technologies to manufacture HP products under the Production Linked Incentive scheme (PLI 2.0). Todays announcement reaffirms HPs commitment and pride to participate in the Governments Make in India initiative.
Through this partnership we look forward to offering our customers in India an enhanced portfolio of domestically manufactured products that combine HP's cutting-edge technology with Dixon's manufacturing expertise.
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.
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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.
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