Dixon Technologies crashed up to 20%
In early trading on Friday, Dixon Technologies shares fell as much as 20% on the BSE
reaching a 52-week low of $2,691.
Despite Q3FY23 PAT increasing 10% YoY due to margin expansion
Sales was down 22% YoY.
Due to weaker sales, the Street reduced FY23 EPS by nearly 30% in the previous year
We have reduced our EPS for FY23e-FY25e by 16–20%, mostly due to weaker sales.