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Street gives a thumbs-up to Dixon after Q1 showing
Business Standard
|July 24, 2025
Dixon Technologies' results for the April-June quarter for 2025-26 (Q1FY26) beat consensus estimates.
The electronic manufacturing services (EMS) company, which focuses on design and solutions and manufactures consumer durables, lighting and mobile phones in the country, saw its mobile segment register a growth of 125 per cent year-on-year (Y-o-Y) in Q1FY26.
Consolidated revenue grew 95 per cent Y-o-Y to ₹12,840 crore. Earnings before interest, taxes, depreciation, and amortisation (Ebitda) rose 95 per cent Y-o-Y to ₹480 crore, while margins were flat at 3.8 per cent. Adjusted profit after tax (PAT) increased 68 per cent Y-o-Y to ₹230 crore.
The firm's strategy includes deeper relationships with existing clients and looking for backward integration. A display facility with HKC, a camera module with Qtech and precision components with Chongqing Yuhai Precision Manufacturing will help Dixon produce components, which should improve margins. A joint venture (JV) with Longcheer, and agreement with Vivo will add phone volumes. Other JVs include one with Taiwan-based Inventec named Dixon IT Devices Pvt Ltd, which is owned 60 per cent by Dixon for the manufacturing of notebook PCs, servers, desktops and PC components, with access to Inventec's global customers.
This story is from the July 24, 2025 edition of Business Standard.
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