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Bearish
4
Neutral
7
Bullish
3
Bearish
21
Neutral
7
Bullish
18
Bearish
17
Neutral
0
Bullish
15
Discovery themes featuring this stock
Dixon Technologies is a large Indian electronics manufacturing services (EMS) and original design manufacturing (ODM) company that produces consumer electronics, LED TVs, refrigerators, washing machines, lighting products, mobile phones, CCTV/DVR security systems and provides reverse logistics and refurbishment services for major domestic and international brands, positioning itself as the ‘brand behind brands’ for outsourced manufacturing.
In 9M FY26 adjusted terms Dixon Technologies reported revenues of approximately ₹38,373 crore, up about 34% year-on-year, while reported numbers rose to ₹38,991 crore driven by fair value gains; this scale highlights the company’s transformation into a high-revenue contract manufacturer with significant year-on-year top-line acceleration amid heavy investment cycles.
Profitability improved materially in Q3 FY26 on a reported basis with EBITDA of ₹546 crore (+37% YoY) and reported EBITDA margin expanding 130 basis points to 5.1%, although adjusted margins are more modest at 3.9% in Q3; this divergence reflects non-operating fair value gains and underscores the need to separate core operational margin trends from one-off accounting gains.
Operational metrics show strong working capital efficiency with negative net working capital days of around (7) days and division-level ROCEs that remain very healthy (Mobile & Other EMS ROCE ~65% trailing), while net debt moved to ₹246 crore from net cash last year driven by capex and acquisitions, indicating a shift to a higher-capital, growth-focused balance sheet.
Consumer Durables
Consumer Electronics
66,751 Cr
High Risk
46.4
48.8
2.6
14.3
18,471.50
9,605.05
Sales CAGR
Profit CAGR
ROE
ROCE
Discovery themes featuring this stock
| Symbol | Watchlist | Price | Market Cap | P/E | P/B | Div Yield (%) | ROE (%) | ROCE (%) | ROA (%) |
1185.00 | 75,886 Cr | 44.89 | 8.03 | 0.83 | 17.88 | 23.02 | 11.46 | ||
11057.70 | 66,751 Cr | 46.40 | 14.27 | 0.09 | 30.76 | 38.12 | 8.58 | ||
487.15 | 13,912 Cr | 50.24 | 4.79 | 0.05 | 8.77 | 12.23 | 5.91 | ||
41.34 | 1,527 Cr | -58.29 | 4.99 | 0.00 | -26.26 | -9.47 | -5.42 | ||
120.15 | 1,204 Cr | 31.83 | 2.00 | 0.00 | 6.28 | 9.11 | 5.42 | ||
34.05 | 905 Cr | 22.84 | 4.42 | 0.00 | 19.35 | 20.37 | 8.47 | ||
268.20 | 590 Cr | 69.22 | 6.34 | 0.00 | 8.09 | 8.96 | 4.62 | ||
| Median: 7 Co. | — | 268.20 | 1,527 Cr | 44.89 | 4.99 | 0.00 | 8.77 | 12.23 | 5.91 |
Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.
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Dixon Technologies (India) Ltd (DIXON) is currently trading at 10,978.45 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.
Dixon Technologies is a large Indian electronics manufacturing services (EMS) and original design manufacturing (ODM) company that produces consumer electronics, LED TVs, refrigerators, washing machines, lighting products, mobile phones, CCTV/DVR security systems and provides reverse logistics and refurbishment services for major domestic and international brands, positioning itself as the ‘brand behind brands’ for outsourced manufacturing. In 9M FY26 adjusted terms Dixon Technologies reported revenues of approximately ₹38,373 crore, up about 34% year-on-year, while reported numbers rose to ₹38,991 crore driven by fair value gains; this scale highlights the company’s transformation into a high-revenue contract manufacturer with significant year-on-year top-line acceleration amid heavy investment cycles. Profitability improved materially in Q3 FY26 on a reported basis with EBITDA of ₹546 crore (+37% YoY) and reported EBITDA margin expanding 130 basis points to 5.1%, although adjusted margins are more modest at 3.9% in Q3; this divergence reflects non-operating fair value gains and underscores the need to separate core operational margin trends from one-off accounting gains. Operational metrics show strong working capital efficiency with negative net working capital days of around (7) days and division-level ROCEs that remain very healthy (Mobile & Other EMS ROCE ~65% trailing), while net debt moved to ₹246 crore from net cash last year driven by capex and acquisitions, indicating a shift to a higher-capital, growth-focused balance sheet.
Over the past 52 weeks, Dixon Technologies (India) Ltd has traded between a low of ₹9,605.05 and a high of ₹18,471.50. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.
Dixon Technologies (India) Ltd has a market capitalization of approximately 66,751.06. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.
Dixon Technologies (India) Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 46.40 and operates in the its sector sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.
Based on its market capitalization of 66,751.06 Cr, Dixon Technologies (India) Ltd is classified as a Mid Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.
Dixon Technologies (India) Ltd operates in the its sector sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.
The Price-to-Earnings (PE) ratio of Dixon Technologies (India) Ltd is 46.40. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.
Management has indicated it is confident of delivering 15-17% revenue growth excluding the Vivo joint venture contribution.
Dixon reported consolidated Q4FY26 revenue of ₹10,510.5 crore (about ₹10,511 crore), up 2.1% year-on-year.
The stock rose after Dixon reported a better-than-expected March quarter profit, with analysts saying Q4 profit beat consensus estimates by about 6%.
PN3 is a multi-ministry clearance required for investments from neighbouring countries such as China. Dixon needs it to operationalise the proposed Vivo joint venture in India.
Earnings Call Transcript
Dixon Q4: revenue INR10,520 crore, EBITDA (ex-exceptional) INR418 crore, PAT INR192 crore; FY26 revenue INR48,893 crore (+26%), EBITDA INR1,887 crore (+23%), PAT INR845 crore (+20%); capacity expansion and strong ROCE/ROE.
Earnings Transcript
Dixon reported Q4 revenue ₹10,520cr, Q4 EBITDA (ex-exceptional) ₹418cr, Q4 PAT (ex-exceptional) ₹192cr; FY26 revenue ₹48,893cr (+26%), EBITDA ₹1,887cr (+23%), PAT ₹845cr (+20%); announced major capacity expansions, display JV approvals, strong ROCE/ROE and negative 8-day working capital cycle.
Regulatory Clarification
Dixon Technologies clarifies media reports of labour protests in Dehradun, calling the event industry‑wide misinformation, and states its Dehradun units remain compliant with no material impact on operations; authorities restoring normalcy.
Audited Financial Results
Published newspaper extracts of audited standalone and consolidated financial results for Q4 and year ended March 31, 2026; Board approved on May 12, 2026. FY26 consolidated PAT: Rs. 164,425 lakhs; standalone PAT: Rs. 75,944 lakhs.
Audited Results
Dixon Technologies published extracts of audited standalone and consolidated financial results for Q4 and FY26: consolidated FY26 total income Rs. 4,958,584 lakhs and consolidated FY26 net profit after tax Rs. 164,425 lakhs; consolidated basic EPS Rs. 271.59.
Financial Results & Dividend
Board approved audited standalone and consolidated results for Q4 and FY ended 31-Mar-2026: consolidated FY revenue Rs49,586 Cr (up 28%), FY PAT Rs1,644 Cr (up 33%); recommended final dividend Rs10/share; 16,155 ESOPs granted.
