The central government has cleared another tranche of the PLI scheme worth Rs 765 crore, of which, Dixon Technologies Ltd. will be receiving nearly Rs 150 crore, according to an Economic Times report.

Share Market Live

NSE

A large portion of the total amount released on the PLI scheme will go to Wistron, Apple’s contract manufacturer in India. The company will receive Rs 601.93 crore, according to the report.

The amount received by Dixon will be for its subsidiary Padget Electronics. So far in the current financial year, the company has booked PLI incentives of Rs 8 crore.

On April 1, 2020, the PLI scheme for large-scale electronics production was announced. This programme offers a 4 percent to 6 percent financial incentive on the incremental net sale of manufactured items, including mobile phones and some electronic components.

According to the government, 16 businesses were authorised under the programme, including five international businesses under the category of mobile phones with invoice values of Rs 15,000 or above, five domestic businesses, and six businesses under the category of certain electronic components.

During the Uttar Pradesh Global Investors' Summit 2023 conducted in February, Dixon Technologies chairman Sunil Vachani announced the opening of three more centres of excellence in the state for manufacturing and designing electronic products.

The focus will be on consumer and telecom products, smartwatches, wearables and hearables, and will include the single largest factory for manufacturing 1.2 million refrigerators a year in Greater Noida.

Shares of Dixon Technologies are trading 1 percent lower at Rs 2,821.