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Prices as of 8 Oct 2026 close · Not investment advice

Dixon Technologies (India) Limited

NSE: DIXONConsumer Electronics

Share price

₹12,650.00

-2.87% close of 8 Oct 2026

Market cap ₹75,900 CrP/E 40.5

Business score

How strong the business is, in one number. The parts behind it are in Pro.

73

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹75,900 Cr

P/E ratio

40.5

P/B ratio

16.4

ROCE

29.2%

ROE

18.9%

Dividend yield

0.1%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹17,445.0052-week low ₹9,673.00

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Our sales figures for this company step up at Sep 2020 and we hold nothing that says why, so we cannot honestly quote a growth rate across it.

Whether it grew faster than its sector

Our sales figures for this company step up at Sep 2020 and we hold nothing that says why, so there is no honest growth rate of its own to set against its sector.

Room to re-rate, or risk of de-rating

At 40.5× earnings it costs 1.7× the market, which pays 23.9× across 2199 companies we can price. Its own industry sits at 50.3×, across 4 companies. It is against its own five-year median of 118.2×, the 0th percentile of its own range.

Whether growth justifies the valuation

Priced at 1.0 times its growth rate, on earnings growth of 41%.

Profit growthPrice per ₹1 profitPer 1% growth
Dixon Technologies (India) Limited — this one41%/yr40.5×₹0.99
Havells India16%/yr38.7×₹2.4
PG Electroplast Limited36%/yr71.9×₹2.0
IKIO Technologies Limited-6%/yr30.3×—
Onida Electronics Limited-8%/yr——
Focus Lighting and Fixtures Limited-39%/yr61.8×—

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Consumer Electronics), it ranks 1 of 11 on returns, 1 of 10 on growth, 10 of 11 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

A wide advantage: it earns 29.2% on capital, ahead of 91% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹4515 crore of cash from the business, spent ₹3389 crore on plant and equipment, and returned ₹231 crore to lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 122 arrived as cash (before interest, which is why it can exceed the profit). Its cash comes back faster than it used to: it went from being waiting 3 days for its cash to paid 3 days before it paid its own suppliers.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

6 of 9 checks clear · 67%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Revenue up 21% on soaring memory prices while phone volumes fell, and the telecom target was cut to INR6,700-7,000 crore

Announced 31 Jul 2026 · Consolidated · Unaudited

Revenue

₹15,548 Cr

Revenue vs last year

+21.1%

Revenue vs last quarter

+47.9%

Net profit

₹718 Cr

Profit vs last year

+156.4%

Profit vs last quarter

+140.9%

Net margin

4.6%

EPS

₹118.00

Earnings call transcript · 31 Jul 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹75,900 Cr
Prev close
₹12,650.00
52w High
₹17,505
52w Low
₹9,600
Enterprise value
₹77,434 Cr
Beta
1.5
Price CAGR 1y
-23.0%
Price CAGR 3y
37.0%
Price CAGR 5y
20.0%
Price CAGR 10y
—

Ratios

Return on assets
8.6%
PEG ratio
1.0
P/E ratio
40.5
P/B ratio
16.4
EV / EBITDA
41.8
Industry P/E
38.5
ROCE
29.2%
ROCE 5y average
29.0%
ROE
18.9%
Debt / Equity
0.2
Interest coverage
15.7
Dividend yield
0.1%
ROE 3y average
22.0%
ROE last year
19.0%

Annual P&L

Annual revenue
₹48,873 Cr
Annual profit
₹1,644 Cr
Operating margin
3.8%
Net profit margin
3.4%
EBITDA margin
3.8%
Sales growth 3y
58.9%
Sales growth 5y
49.9%
Profit growth 3y
41.0%
Profit growth 5y
35.0%
EPS
₹237
Sales growth TTM
14.0%
Profit growth TTM
119.0%
Dividend payout
4.0%

Quarter P&L

Sales latest quarter
₹15,548 Cr
Profit latest quarter
₹718 Cr
YoY quarterly sales growth
21.1%
YoY quarterly profit growth
156.4%
OPM latest quarter
3.0%

Balance Sheet

Book Value
₹780
Face Value
₹2.0
Total debt
₹994 Cr
Total cash
₹941 Cr
Borrowings
₹994 Cr
Reserves / Equity
388.8

Cash Flow

Operating cash flow
₹1,782 Cr
Free cash flow
₹724 Cr
FCF yield
0.8%
Net cash flow
₹537 Cr

Shareholding

Promoter holding
28.6%
FII holding
17.9%
DII holding
28.4%
Public holding
25.2%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
Dixon Technolog.13,024.0042.479,6690.08717.8194.915,547.721.129.2
Havells India1,060.5039.966,5530.94289.7-16.56,518.219.524.9
PG Electroplast522.0072.714,9690.0576.213.82,034.035.310.3
IKIO Tech191.0531.81,4760.0011.1409.0169.340.99.5
Onida Electronics30.671,1330.00-14.2-13.5182.429.5-17.0
CWD290.0059.76770.006.356.1105.7293.618.3
Cellecor Gadgets29.4516.56550.0020.123.3650.38.322.7
Median191.0535.54340.006.056.172.932.411.6

Competes with: BPL Limited, Focus Lighting and Fixtures Limited, Havells India, IKIO Technologies Limited, Khaitan (India) Limited, MIRC Electronics Limited, Nitiraj Engineers Limited, Onida Electronics Limited, PG Electroplast Limited, SONAM LIMITED, Veto Switchgears And Cables Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales3,2724,9434,8184,6586,58011,53410,45410,29312,83614,85510,67210,51115,548
Expenses3,1404,7444,6344,4766,33211,10810,0639,85012,35314,29410,25710,10215,085
Material Cost9,40012,28813,5049,64410,02515,064
Change in Inventories76-413297242-310-423
Purchases of Stock-in-Trade000000
Employee Cost143169197171174181
Other Expenses231309295200213263
Operating Profit132199184182248426391443482561414408463
OPM %4.034.023.833.923.773.703.744.303.763.783.883.892.98
Other Income634191620610265849713990537
Exceptional items (within Other Income)25000000
Interest14172221293841463338432424
Depreciation3436415155667586939699105107
Profit before tax90149126130180529285576366924412370869
Tax %25242325222224192319221917
Net Profit671139797140412216465280746321298718
EPS in Rs1218161622652967371114742109
Diluted EPS in Rs76461235349118

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,2011,3892,4572,8422,9844,4006,44810,69712,19217,69138,86048,87351,585
Expenses1,1691,3402,3652,7292,8484,1726,15610,31311,67316,98637,34547,00049,738
Material Cost36,10045,460
Change in Inventories-267-183
Purchases of Stock-in-Trade00
Employee Cost567711
Other Expenses9521,018
Operating Profit3249921131362282923845197051,5151,8731,847
OPM %2.703.503.7044.6054.503.604.3043.903.803.60
Other Income2231465144324977311,263
Exceptional items (within Other Income)4600
Interest10131613263933496481162141129
Depreciation78111522374484115162281393407
Profit before tax17516688941572172553454941,5702,0712,574
Tax %241628313223262526242121
Net Profit13434861631201601902553751,2331,6442,082
EPS in Rs7.65278.6611112127324361182237309
Diluted EPS in Rs203269
Dividend Payout %3914444467844

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
43%
5 years
50%
3 years
59%
TTM
14%

Compounded profit growth

10 years
35%
5 years
35%
3 years
41%
TTM
119%

Stock price CAGR

10 years
—
5 years
20%
3 years
37%
1 year
-23%

Return on equity

10 years
22%
5 years
22%
3 years
22%
Last year
19%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital3311111112121212121212
Reserves821201863043675307269851,2731,6832,9984,665
Borrowings8280434514187295667453489671994
Other Liabilities1572155496069711,0691,8142,6132,9414,80613,07713,481
Minority Interest459710
Total Liabilities3244177899661,4911,6972,8464,2774,6796,99016,75819,152
Fixed Assets971241371792414145501,0031,2441,9962,7744,172
CWIP002161910722212068257571
Investments60011809514144205361,007
Other Assets2212946507591,2241,2732,1283,1113,2724,90513,19113,403
Total Assets3244177899661,4911,6972,8464,2774,6796,99116,76719,162

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity44425368-32371702737265841,1501,782
Cash from Investing Activity-22-22-43-100-64-99-265-464-356-531-1,093-1,138
Cash from Financing Activity-22-20-84269-5763304-330-70-27-108
Net Cash Flow-01110281-3211341-1730537
Free Cash Flow231615-5-821292-14527616254724

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days172342386343624651486549
Inventory Days384147475747474332394131
Days Payable465684751038910886819211186
Cash Conversion Cycle98510171132-6-5-7
Working Capital Days1687812993-2-22-3
ROCE %162937342734302324294029

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters343433333332322929292929
FIIs161718192323222121191818
DIIs272627262323232729292828
Public232322212122232421232525
No. of Shareholders2,85,5662,67,5362,52,8432,67,3142,85,3633,20,1933,75,6304,08,3693,41,1624,05,0754,70,3264,70,189

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -26.0% (₹17,098.00 → ₹12,650.00)Brick size ₹371.88 (fixed)Bricks 49
₹10,000₹12,000₹14,000₹16,000₹12,650Nov '25Jan '26Mar '26May '26Jul '26Sep '26
Price moved up one brickPrice moved down one brickLast close ₹12,650.00 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

2,97,98,939inr

2026-03-31

News

News and filings about Dixon Technologies (India) Limited. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Sells to

Buys from

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Consumer Durables
Industry
Consumer Electronics
Classification
Consumer Durables › Consumer Electronics
ISIN
INE935N01020

Plants

  • Dehradun · Dehradun, Uttarakhand
  • Noida cluster · Noida, Uttar Pradesh
  • Tamil Nadu cluster · Tamil Nadu
  • Tirupati · Tirupati, Andhra Pradesh

News impact

Big market events that reach Dixon Technologies (India) Limited, and how the effect spreads.

30 Sept, 02:40 IST · Market event · medium impact

Reliance goes ahead with ₹12,000 cr bond issue

Reliance will borrow ₹12,000 crore by selling bonds to fund its growth plans, which avoids diluting shareholders but adds debt, with little direct effect on rivals or suppliers.

Oil, Gas & Consumable FuelsTelecommunicationConsumer Services

Who it hits first

  • Reliance Industries, India's largest private company, is going ahead with raising ₹12,000 crore by selling bonds (borrowing from investors).
  • The money will fund its growth plans across energy, telecom and retail, without issuing new shares.
  • Existing shareholders face no dilution (their slice stays the same), but the company takes on more debt and interest costs.
  • Rival refiners and telecom operators see no direct change to their own sales or costs from this borrowing.

Who may gain

  • Reliance Industries — growth funding without shareholder dilution
  • Bond investors — fresh highly-rated paper to buy
  • Future project contractors and equipment vendors — possible orders if the money funds new building

Along the supply chain

Downstream

No direct downstream link — this bond sale puts cash on Reliance's balance sheet rather than changing what its refineries, Jio network or retail stores sell.

Upstream

Equipment, tower, cable and service vendors to Reliance (such as Indus Towers for telecom sites and Dixon for electronics) could gain future orders if bond money funds expansion, but no new orders are announced yet.

Where demand moves

Business

No immediate change in what customers buy: this is a financing step, not a new product or price cut; only later, if the money builds towers, stores or plants, do suppliers see fresh orders.

Capital

Capital flows toward Reliance debt as bond buyers absorb the ₹12,000 crore issue; equity investors read it as mildly positive since growth is funded without diluting their shares.

How it spreads across sectors

Consumer Services

Neutral near term; a positive only if retail expansion orders follow later.

Oil, Gas & Consumable Fuels

Neutral for rival refiners; Reliance's borrowing does not change fuel prices or refining volumes.

Telecommunication

Mildly positive only if proceeds fund Jio network spending, which would help tower and gear vendors.

When it plays out

Immediate

In the first week, the bond sale goes through and Reliance's shares react mildly to the funded-growth signal.

Medium term

Over the coming months, funded projects start spending, which is when suppliers could feel the benefit.

Short term

Over the next few weeks, watch where the money goes — telecom, retail or energy projects — and any vendor order news.

Who it hits first

  • Air conditioners from makers like Voltas (air conditioner maker) and Blue Star (cooling equipment maker) will cost 5-8% more from October 1 because copper, steel, aluminium, crude-based materials and a weak currency pushed up costs.
  • Price rises for LED TVs, washing machines and refrigerators are also coming, so shoppers will pay more across big home appliances.
  • Makers will protect their profit on each unit with higher prices but risk selling fewer units if shoppers delay purchases.

Who may gain

  • Blue Star (air conditioning maker) — solid returns with ROE 17.21 help it pass on costs and defend margins while volumes wobble.
  • Havells India (electrical and appliance maker) — strong returns with ROE 19.02 and tiny debt with D/E 0.02802 help it absorb the shock.
  • LG Electronics India (TV, fridge, washer and AC seller) — strong returns with ROE 24.71 give it the best cushion to push prices through.

Along the supply chain

Downstream

Shops and online sellers must sell costlier air conditioners, TVs, fridges and washers, and shoppers may delay purchases, pick cheaper models, or choose air coolers instead.

Upstream

Parts makers like Amber Enterprises (air conditioner parts), Dixon Technologies (electronics maker) and PG Electroplast (appliance parts) face softer orders if dearer appliances slow sales, while paying more themselves for copper, steel, aluminium and crude-based plastics.

Where demand moves

Business

Shoppers face higher price tags, so stores may sell fewer air conditioners, TVs, fridges and washers in October; makers collect more money per unit but sell fewer units, and parts makers see softer orders.

Capital

Investors are likely to stay careful on white-goods makers and their parts suppliers until October festival sales show whether buyers accept higher prices, leaning toward stronger names like Havells and Blue Star.

How it spreads across sectors

Chemicals

Suppliers of plastics and resins tied to crude derivatives keep selling to appliance makers for now, but could feel a pinch if higher prices dent appliance volumes.

Consumer Durables

Air conditioner, TV, fridge and washer makers raise prices to cover copper, steel, aluminium and currency costs, trading margin defence for the risk of fewer sales.

A pattern seen before

Cascade chain

Pattern name

Crude Oil Cascade

Patterns

  • Crude Oil Cascade

Sectors queried

  • Cement
  • Chemicals
  • FMCG
  • Power

When it plays out

Immediate

Shops warn buyers about the October 1 rise; some shoppers buy early to beat the 5-8% hike while maker shares wobble on volume worries.

Medium term

If copper, steel, aluminium and currency pressures ease, margins recover without further hikes; if not, makers face another round of rises or weaker sales.

Short term

New 5-8% air conditioner prices land on October 1 and TV, washer and fridge hikes follow; October festival sales reveal whether demand holds.

Who it hits first

  • A 13% GST cut would lift handset affordability and volumes meaningfully.
  • EMS assemblers (Dixon, Amber, PGEL) gain order volumes on any revival.
  • Memory-price inflation partly offsets tax relief on margins.

Who may gain

  • Dixon most in absolute volume; small EMS most in operating leverage.

Along the supply chain

Downstream

Retailers and online sellers move more units on lower sticker prices.

Upstream

Memory and component suppliers gain volumes if the cut lands.

Where demand moves

Business

Cheaper phones pull forward upgrades; brands push volumes to EMS partners.

Capital

Money nibbles EMS on policy optionality; full commitment awaits Council action.

How it spreads across sectors

Consumer Durables

Handset-EMS positive on plea; broader durables watch for GST contagion to appliances.

When it plays out

Immediate

EMS names firm 1-3% on headline optionality.

Medium term

If granted, 2-3 quarters of volume recovery; if denied, PLI exports carry Dixon alone.

Short term

GST Council agenda and meeting outcome decide real vs hope.

Who it hits first

  • Xiaomi's India operations face prolonged investigative overhang
  • Dixon (manufacturer) and Optiemus (distributor) face order uncertainty
  • Amber faces mild handset-volume read-through

Who may gain

  • Samsung and Indian brands gain if Xiaomi stumbles
  • Alternative EMS partners gain diverted orders

Along the supply chain

Downstream

Xiaomi phone supply continues — probe targets past payments, not current sales.

Upstream

Component vendors to Xiaomi lines face volume uncertainty.

Where demand moves

Business

Xiaomi partners diversify client mix; royalty and compliance structures get reworked.

Capital

Money trims Xiaomi-exposed EMS names on order risk.

How it spreads across sectors

Consumer Durables

Xiaomi-partner EMS faces order overhang

Telecommunication

Optiemus distribution economics clouded

When it plays out

Immediate

Partner stocks soften on probe headlines.

Medium term

Prolonged probes accelerate partner diversification away from Xiaomi.

Short term

Watch SFIO probe scope and Xiaomi's India commitment signals.

Who it hits first

  • EMS assemblers (Dixon, Amber, Kaynes, Syrma, PGEL) face softer Apple-linked volumes
  • Premium retailers see higher realisations but fewer units
  • Foldable Duo adds a high-value but low-volume line

Who may gain

  • Android rivals gain share as iPhone prices rise
  • Component makers with Android exposure offset Apple softness

Along the supply chain

Downstream

Consumers defer upgrades or shift to Android flagships.

Upstream

Display and chip suppliers see softer Apple-India offtake.

Where demand moves

Business

Assemblers reallocate lines to Android and white-goods; Apple-store staff push financing offers.

Capital

Money trims EMS multiples on volume fear; Apple-supply-chain premium compresses.

How it spreads across sectors

Capital Goods

Kaynes/Syrma industrial mix cushions consumer softness

Consumer Durables

EMS volumes at risk on Apple price elasticity

When it plays out

Immediate

EMS stocks soften on volume headlines.

Medium term

Premiumisation sustains value growth even as units stall.

Short term

Watch festive sell-through and EMI-conversion data.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

21 Sep 2026unspecified₹10
16 Sep 2025unspecified₹8
17 Sep 2024unspecified₹5
22 Sep 2023unspecified₹3
11 Aug 2022unspecified₹2
20 Sep 2021unspecified₹1
18 Mar 2021split₹0
24 Mar 2020interim₹4

Splits, bonuses & buybacks

  • daily-prices repair: 8 rows from NSE's archive (replace 1, delete 1, insert 6), 2020-02-01..2026-02-01 (docs/flat_day_repair.md)1× · 1 Feb 2020

Bulk & block deals

DateWhoBought / soldSharesPrice
13 May 2026GRAVITON RESEARCH CAPITAL LLPBUY3,05,260₹10,683.23
13 May 2026GRAVITON RESEARCH CAPITAL LLPSELL3,05,260₹10,698.29

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.