Dixon Technologies (India)
- Market cap
- ₹ 68,432 Cr.
- P/E
- 36.5x
- P/B
- 15.07x
- 52-week range
- 9,600 – 15,775
- ROE
- 37%
- ROCE
- 42%
- Dividend yield
- 0.1%
- Debt / equity
- 0.21
- Sector
- Consumer Durables
- Industry
- Consumer Electronics
- Listed on
- NSE, BSE
About
Dixon Technologies (India) Limited is an India-based electronics manufacturing services (EMS) provider. The Company is engaged in manufacturing various verticals, including consumer durables, lighting solutions, home appliances, and mobile phones. It operates through a single segment, which is Electronics Goods. Its product portfolio can be categorized into consumer electronics, home appliances, lighting products, mobile phones, EMS & others. Its consumer electronics include light-emitting diode (LED) televisions (TVs) and refrigerators. Its home appliances include washing machines. Its lighting products include LED bulbs, outdoor lighting, smart lights, battens, and downlighters. Its mobile phones, EMS & others include smartphones, information technology (IT) hardware, telecommunications, hearables, and wearables. It offers reverse logistics services such as repair and refurbishment of LED TV panels.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Consumer Electronics: 24 companies →Dixon Technologies (India) against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)36.5 against a typical 24.8: pricier than most peers (1st = cheapest).15th of 23
- Sales growth+21.1% against a typical +33.3% from a year earlier.13th of 21
- Profit growth+156.4% against a typical +63.5% from a year earlier.3rd of 16
- Share price, 3 months−21.3% against a typical −15.1%.19th of 22
- Size₹ 68,431.5 Cr. market value against a typical ₹ 308 Cr. (1st = largest).1st of 22
Latest announcements
Exchange filings and their impact on the company.
- Dixon signs JV with Taiwan's Gemtek to expand into networking products, with limited near-term financial impact.
Dixon Technologies and its unit Dixon Electroconnect have signed a joint venture agreement with Taiwan-based Gemtek Technology Co. Ltd. No investment size, shareholding or financial terms were disclosed in the filing. The JV expands Dixon into networking and connectivity products manufacturing in India, with meaningful revenues likely only after plant setup, so near-term financial impact is small.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
High safety
Rated AA by ICRA- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| ICRA | [ICRA]AA /[ICRA]A1+ | Stable | 6 Jan 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 6 Jan 2026 | Reaffirmed | [ICRA]AA /[ICRA]A1+ | — | ICRA | ₹ 2,625 Cr. | |
| 28 Nov 2025 | Reaffirmed | [ICRA]AA /[ICRA]A1+ | — | ICRA | ₹ 2,625 Cr. |
Research by Minerva Capital Research Solutions
Our research team's work on Dixon Technologies (India)Also covered in
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 30 Oct 2026Upcoming | Financial Results | To consider and approve the financial results (standalone and consolidated) for the period ended September 30, 2026 |
| 31 Jul 2026 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2026 |
| 12 May 2026 | Financial Results/Dividend | To consider and approve the Audited Financial Results (Standalone and Consolidated) of the Company for the Quarter and Financial year ended 31st March, 2026 and recommendation of Dividend, if any, for the Financial year ended as on 31st March, 2026. |
| 29 Jan 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 17 Oct 2025 | Financial Results | To consider and approve the financial results for the period ended September 30, 2025 |
| 22 Jul 2025 | Financial Results | To consider and approve the Un-Audited financial results (Standalone and Consolidated) of the Company for the period ended Jun 30, 2025 |
| 20 May 2025 | Financial Results/Dividend | To consider and approve the financial results for the period ended March 31, 2025 and dividend |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,943 | 4,818 | 4,658 | 6,580 | 11,534 | 10,454 | 10,293 | 12,836 | 14,855 | 10,672 | 10,511 | 15,548 |
| Expenses | 4,744 | 4,634 | 4,476 | 6,332 | 11,108 | 10,063 | 9,850 | 12,353 | 14,294 | 10,257 | 10,102 | 15,085 |
| Operating Profit | 199 | 184 | 182 | 248 | 426 | 391 | 443 | 482 | 561 | 414 | 408 | 463 |
| OPM % | 4% | 3.8% | 3.9% | 3.8% | 3.7% | 3.7% | 4.3% | 3.8% | 3.8% | 3.9% | 3.9% | 3% |
| Other Income | 3 | 4 | 19 | 16 | 206 | 10 | 265 | 8 | 497 | 139 | 90 | 537 |
| Interest | 17 | 22 | 21 | 29 | 38 | 41 | 46 | 33 | 38 | 43 | 24 | 24 |
| Depreciation | 36 | 41 | 51 | 55 | 66 | 75 | 86 | 93 | 96 | 99 | 105 | 107 |
| Profit before tax | 149 | 126 | 130 | 180 | 529 | 285 | 576 | 366 | 924 | 412 | 370 | 869 |
| Tax % | 24% | 23% | 25% | 22% | 22% | 24% | 19% | 23% | 19% | 22% | 19% | 17% |
| Net Profit | 113 | 97 | 97 | 140 | 412 | 216 | 465 | 280 | 746 | 321 | 298 | 718 |
| EPS in Rs | 18.02 | 16.12 | 15.91 | 22.34 | 65.15 | 28.5 | 66.54 | 37.2 | 110.72 | 47.34 | 42.17 | 108.6 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 43%
- 5 Years
- 50%
- 3 Years
- 59%
- TTM
- 14%
- 10 Years
- 45%
- 5 Years
- 55%
- 3 Years
- 77%
- TTM
- 119%
- 10 Years
- —
- 5 Years
- 29%
- 3 Years
- 44%
- TTM
- —
- 10 Years
- 30%
- 5 Years
- 31%
- 3 Years
- 34%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Dixon Technologies (India) | ₹ 11,400.00 | ₹ 68,432 Cr. | 36.5x | 15.1x | 37% | — |
| Sharp India | ₹ 132.85 | ₹ 345 Cr. | — | — | — | — |
| Purple Wave Infocom | ₹ 390.20 | ₹ 361 Cr. | 8.1x | 1.9x | — | 9.2% |
| Ind Agiv Commerce Ltd | ₹ 39.00 | ₹ 12 Cr. | — | — | — | −14.8% |
| VCU Data Management | ₹ 5.99 | ₹ 9 Cr. | 381x | 0.4x | 0.2% | — |
Management
- Sunil Vachani
- Executive Chairman of the Board
- Atul Behari Lall
- Executive Vice Chairman, Managing Director
- Saurabh Gupta
- Chief Financial Officer, Director - Finance
- Josh Foulger
- President - IT Hardware & New Projects in Padget Electronics Private Limited
- Abhijit Kotnis
- President and Chief Operating Officer - Consumer Electronics
- Sukhvinder Kumar
- Chief Executive Officer - Telecommunications
- Rajeev Lonial
- President, Chief Operating Officer - Home Appliances
- Kamlesh Kumar Mishra
- President - Mobile Division
Prices are delayed and for information only. Nothing on this page is investment advice.