Dixon revenue in FY24 seen to have risen 50%

DOMESTIC CONTRACT MANUFACTURER Dixon Technologies' revenue from operations is expected to have risen to around ₹18,000 crore in FY24, which is a near 50% year-on-year (YoY) growth, according to people in the know.

- JATIN GROVER

In FY23, the company's revenue grew 14% YoY to 12,192 crore. A significant increase in the company's revenue in FY24 can be largely attributed to growth in mobile and electronic manufacturing services (EMS) business.

The company manufactures smartphones and feature phones for companies such as Xiaomi, Samsung, Motorola, Jio, itel, among others, at its four plants in Noida.

In the January-March quarter, the company's revenue from operations is expected to have increased over 60% YoY to ₹4,900 crore.

Nearly half of the company's annual revenue of ₹18,000 crore during the year is expected to have come from manufacturing and assembling mobile phones and their accessories, sources in the know said. During the year, Dixon added Xiaomi as its client for manufacturing and export of its mobile phones.