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Dixon Technologies (India) share price

NSE: DIXONBSE: 540699Consumer DurablesMid Cap

Dixon Technologies (India) Limited · Face value ₹2 · Listed Sep 2017 · Issue price ₹1,766
Last close ₹11,000.00down ₹488.00 (4.25%)BSE ₹11,000.00

Share price at the NSE close on 30 Oct 2026. Previous close ₹11,488.00.

30 Oct: open ₹11,500.00, high ₹11,513.00, low ₹10,932.00

52-week range of traded prices to 30 Oct 2026
₹9,600.00Low, 30 Mar 2026₹15,775.00High, 19 Nov 2025
Market cap
₹67,288 Cr159th largest listed
P/E
43.39
P/B
11.45
Dividend yield
0.09%
ROE
31.2%
ROCE
19.8%
Debt to equity
0.10
Volume, NSE
5,21,83833.7% delivered

Dixon Technologies (India) share price chart

Daily closes since Sep 2017, adjusted for splits and bonuses

−29.7%over a year · Nifty Consumer Durables −11.3% · Nifty 500 −8.2%

Results20-session average 2,74,165 shares a day, 38.0% delivered

About Dixon Technologies (India)

Dixon Technologies (India) Limited makes electronics that other companies sell under their own brands.1 It works as an original equipment manufacturer (building to the brand's design) and as an original design manufacturer (building to its own design), for brands in India and abroad.1 Its business spans mobile phones, consumer electronics, home appliances, refrigerators, wearables and hearables, and telecom and IT hardware, made in factories across India.1

Mobile phones are made by Padget Electronics (owned 100%) and IsmartU India (50.10%), and telecom and networking products by Dixon Electro Appliances (51%, with Beetel Teletech holding 49%).23 IT hardware is made by Dixon IT Devices (60%), a joint venture with Inventec, and Bluetooth audio devices by Califonix Tech and Manufacturing (50%), a joint venture with Imagine Marketing.456 Dixon also holds 40% of Rexxam Dixon Electronics, which makes circuit boards for air conditioners.7

It was incorporated in 1993 and began operations in 1994 making colour televisions; it entered mobile phone manufacturing in 2016 and refrigerators in 2023.89 It acquired 51% of Kunshan Q Tech Microelectronics (India), a maker of camera and fingerprint modules, with effect from 26 Sep 2025.10 Its lighting business passed on 1 Aug 2025 to Lightanium Technologies, a 50:50 joint venture with Signify, and on 3 Mar 2026 Longcheer Intelligence took 26% of Dixtel Infocom, a joint venture in which Dixon holds 74%.11 Its promoter, Sunil Vachani, is Executive Chairman, and Atul B Lall is Vice Chairman and Managing Director.12

Dixon Technologies (India) key points

Results

  • As reported, in the quarter to Jun 2026, consolidated revenue including other income was ₹16,076 crore, up 25% on a year earlier; EBITDA (earnings before interest, tax, depreciation and amortisation) was ₹991 crore, up 105%, and profit to shareholders ₹663 crore, up 195%.13
  • Dixon's reported figures include a ₹519 crore fair value gain on its 2.38% stake in Aditya Infotech; excluding it, revenue was ₹15,557 crore (up 21%), EBITDA ₹472 crore (down 2%) and profit to shareholders ₹218 crore (down 3%).141516
  • In the year to Mar 2026, excluding a one-off gain, consolidated revenue including other income was ₹48,893 crore, up 26%, EBITDA ₹1,887 crore, up 23%, and profit after tax ₹845 crore, up 20%.17

Business segments

  • Revenue by business, quarter to Jun 20261819
    Itemquarter to Jun 2026
    Mobile phones and other electronics manufacturing services (EMS)₹14,179 crore
    Consumer electronics (LED TVs and refrigerators)₹987 crore
    Home appliances₹382 crore
  • Share of revenue by business, year to Mar 202620
    Itemyear to Mar 2026
    Mobile phones and other EMS91%
    Consumer electronics and refrigerators6%
    Home appliances and engineering3%
  • The company makes almost two-thirds of India's feature phones, it said on its earnings call of 31 Jul 2026.21

Where revenue comes from

  • Export revenue was ₹54,205.5 million in the year to Mar 2026, mainly to the US, Africa, the Middle East and Asian countries.2223

Plants and capacity

  • Annual installed capacity, Mar 20262423
    ItemMar 2026
    Smartphones65 million units
    Feature phones40 million units
    Wearables and hearables36 million units
    Telecom products22 million units
    LED TVs5 million units
    Semi-automatic washing machines2.5 million units
    It has about 6.4 million sq ft of manufacturing space across India.

Customers and partners

  • Customers it names include Xiaomi, Samsung, Hisense, Panasonic, Acer, Toshiba and Lloyd for consumer electronics, and Samsung, Bosch, Voltas-Beko, Sharp, Reliance and Flipkart for home appliances.25
  • Its Chennai plant makes IT hardware for brands including HP, ASUS and Acer.26
  • It has an agreement with Eureka Forbes to make and supply robotic vacuum cleaners, and makes backhaul microwave radios (links that carry mobile network traffic between towers) for a US telecom customer.2728

Expansion and capital spending

  • Capital spending was over ₹1,058 crore in the year to Mar 2026, mainly on the display-module and camera-module plants, backward integration (making its own components) and added capacity.29
  • On its earnings call of 31 Jul 2026, the company said it is expanding camera-module capacity at its subsidiary Kunshan Q Tech from 70 million to 180 million to 190 million units a year over 15 to 18 months, largely for the smartphones it makes.30
  • The company stated in its annual report for the year to Mar 2026 that its display plant's first phase is set for 24 million smartphone display modules and 2 million notebook units.26
  • The company said it is developing a 1 million sq ft mobile phone facility in Noida for an anchor customer (the main customer it is built for), and on its earnings call of 31 Jul 2026 that construction was almost complete.2830

What the company expects

  • On its earnings call of 31 Jul 2026, the company said it made about 7.5 million smartphones in the quarter to Jun 2026 and had orders for about 9 million to 9.2 million in the quarter to Sep 2026, excluding vivo.3132
  • On its earnings call of 31 Jul 2026, the company said telecom revenue was about ₹2,100 crore in the quarter to Jun 2026 and that it expects ₹6,700 crore to ₹7,000 crore for the year to Mar 2027.3133
  • On its earnings call of 31 Jul 2026, the company said memory-chip prices would keep going up or at least not come down, that it expected no margin improvement in the year to Mar 2027, and that margins should start to improve the year after.34

Recent events

  • On 7 Oct 2026, Dixon signed a joint venture agreement under which Gemtek Technology is to hold 40% of its subsidiary Dixon Electroconnect, which is to make optical transceivers (modules that carry network data over fibre); completion is expected by 3 Feb 2027.3536
  • On 30 Sep 2026, subsidiary Dixon Electro Appliances signed an agreement under which Aviat Networks (India) granted it a limited licence to use specified intellectual property, including technical know-how, to make and sell microwave radios.37
  • On 9 Jul 2026, Dixon reported a joint venture agreement with vivo Mobile India for a company, 51% Dixon and 49% vivo, to make smartphones and other devices in India. Adivistar Electronics India, set up as that company, was incorporated on 13 Aug 2026.383940
  • On 30 Mar 2026, subsidiary Dixon Display Technologies was approved under the government's Electronics Component Manufacturing Scheme (incentives for making electronic components in India) to assemble display modules.41

Last updated

All 41 sources, each with its page
  1. 1. Annual report, 3 Sep 2026, page 76
  2. 2. Annual report, 3 Sep 2026, page 29
  3. 3. Annual report, 3 Sep 2026, page 144
  4. 4. Annual report, 3 Sep 2026, page 82
  5. 5. Annual report, 3 Sep 2026, page 81
  6. 6. Annual report, 3 Sep 2026, page 80
  7. 7. Annual report, 3 Sep 2026, page 146
  8. 8. Annual report, 3 Sep 2026, page 4
  9. 9. Annual report, 3 Sep 2026, page 84
  10. 10. Annual report, 3 Sep 2026, page 146
  11. 11. Annual report, 3 Sep 2026, page 145
  12. 12. Annual report, 3 Sep 2026, page 132
  13. 13. Investor presentation, 31 Jul 2026, page 15
  14. 14. Investor presentation, 31 Jul 2026, page 16
  15. 15. Investor presentation, 31 Jul 2026, page 25
  16. 16. Investor presentation, 31 Jul 2026, page 17
  17. 17. Annual report, 3 Sep 2026, page 189
  18. 18. Earnings call, 31 Jul 2026, page 4
  19. 19. Earnings call, 31 Jul 2026, page 6
  20. 20. Annual report, 3 Sep 2026, page 78
  21. 21. Earnings call, 31 Jul 2026, page 10
  22. 22. Annual report, 3 Sep 2026, page 105
  23. 23. Annual report, 3 Sep 2026, page 85
  24. 24. Annual report, 3 Sep 2026, page 107
  25. 25. Annual report, 3 Sep 2026, page 238
  26. 26. Annual report, 3 Sep 2026, page 100
  27. 27. Annual report, 3 Sep 2026, page 141
  28. 28. Annual report, 3 Sep 2026, page 190
  29. 29. Annual report, 3 Sep 2026, page 102
  30. 30. Earnings call, 31 Jul 2026, page 5
  31. 31. Earnings call, 31 Jul 2026, page 11
  32. 32. Earnings call, 31 Jul 2026, page 9
  33. 33. Earnings call, 31 Jul 2026, page 20
  34. 34. Earnings call, 31 Jul 2026, page 18
  35. 35. Exchange filing, 7 Oct 2026, page 1
  36. 36. Exchange filing, 7 Oct 2026, page 3
  37. 37. Exchange filing, 30 Sep 2026, page 1
  38. 38. Exchange filing, 9 Jul 2026, page 1
  39. 39. Exchange filing, 9 Jul 2026, page 2
  40. 40. Exchange filing, 21 Sep 2026, page 2
  41. 41. Exchange filing, 30 Mar 2026, page 1

Results

Consolidated; ₹ crore.Dixon Technologies (India) quarterly results

Revenue growth, 12 months
+20.8%
Net profit growth, 12 months
+5.7%

Quarter to Sep 2026, against the quarter before

Revenue
₹21,794 Crup 40.17%
Net profit
₹411 Crdown 42.76%
Net margin
1.9%

Revenue by quarter

₹10,454 CrDec 24₹10,293 CrMar 25₹12,836 CrJun 25₹14,855 CrSep 25₹10,672 CrDec 25₹10,511 CrMar 26₹15,548 CrJun 26₹21,794 CrSep 26
Peak revenue ₹21,794 Cr, quarter to Sep 2026; lowest ₹10,293 Cr, quarter to Mar 2025

Net profit by quarter, a loss in red

₹216 CrDec 24₹465 CrMar 25₹280 CrJun 25₹746 CrSep 25₹321 CrDec 25₹298 CrMar 26₹718 CrJun 26₹411 CrSep 26
₹ croreDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Revenue10,45410,29312,83614,85510,67210,51115,54821,794
Net profit216465280746321298718411
Net margin2.1%4.5%2.2%5.0%3.0%2.8%4.6%1.9%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

In the year to Mar 2026 the company reports one business segment, Electronics Goods, which carries all its revenue.

Valuation

Today, against the company's own history.Dixon Technologies (India) PE ratio and valuation

Price to earnings

At or below today's level on 13% of 2,079 trading days since Jun 2018.

LowestHighest
Its median105.40Industry median26.76
Price to book

At or below today's level on 18% of 1,980 trading days since Nov 2018.

LowestHighest
Its median22.61Industry median2.20
Dividend yield

At or below today's level on 92% of 2,209 trading days since Oct 2017.

LowestHighest
Its median0.05%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year−26.5%+30.1%−43.6%0.1%
3 years+50.2%+76.7%−15.0%0.1%
5 years+21.5%+54.0%−21.2%0.1%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 1, 3 and 5 years is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count. Earnings growth over 1 year includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the year to Mar 2025.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Dixon Technologies (India) shareholding pattern

Shareholding by group

  • Promoters28.50%
  • Foreign institutions18.96%
  • Indian institutions28.71%
  • Individuals and others23.83%
Holder
PSV FAMILY TRUST UNDER THE TRUSTEES MR. SUNIL VACHANI AND MRS. GAYATRI VACHANIPromoter15.45%
GAYATRI VACHANIPromoter6.36%
KAMLA VACHANINon-resident Indians6.17%
KSV FAMILY TRUST UNDER THE TRUSTEES MR. SUNIL VACHANI AND MRS. GAYATRI VACHANIPromoter3.86%
ATUL BEHARI LALLDirectors and their relatives3.18%
NPS TRUST A/C UTI PENSION FUND LIMITED-SCHEME CENTProvident and pension funds2.53%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters −0.05 pts, foreign institutions +1.09 pts, Indian institutions +0.32 pts, mutual funds −0.79 pts.

Mutual fund holdings

300 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 112 of the 172 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 3 more funds filed their first portfolio on record, holding it.All 300 funds holding Dixon Technologies (India)

Bought for the first time
1
Bought again
6
Added
97
Cut
75
Held unchanged
118
Sold out
5
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 31 Oct 2025.Dixon Technologies (India) insider trading

No promoter, director, key manager or employee bought or sold on the market.

  • Promoters and promoter group: no market trade
  • Others: no market trade · 190 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Dixon Technologies (India) competitors and peers

Consumer Electronics, 23 listed companies, priced on 30 Oct 2026. The table lists the 8 companies closest to Dixon Technologies (India) in market cap.Consumer durables companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Havells India logoHavells IndiaHAVELLS63,62238.246.51+16.5%+13.7%18.0%18.6%0.99%
PG Electroplast logoPG ElectroplastPGEL15,20070.144.83+21.0%−14.9%7.2%8.9%0.05%
IKIO Technologies logoIKIO TechnologiesIKIO1,24426.762.07+34.5%+126.0%8.0%8.8%0.00%
Onida Electronics logoOnida ElectronicsONIDA929–3.91+6.3%–−42.1%−18.9%0.00%
CWD logoCWDCWD65860.00–+331.1%+336.9%14.0%–0.00%
Cellecor Gadgets logoCellecor GadgetsCELLECOR64616.31–––22.0%–0.00%
Universus Photo Imagings logoUniversus Photo ImagingsUNIVPHOTO488–0.60−5.2%−121.5%−2.1%0.1%0.00%
Arham Technologies logoArham TechnologiesARHAM45637.344.62+69.6%+67.8%18.8%–0.00%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.Dixon Technologies (India) dividend history

Dividend per share, ₹, restated for later splits and bonuses

0.4Mar 180.4Mar 190.8Mar 201Mar 212Mar 223Mar 235Mar 248Mar 2510Mar 26
Highest ₹10.00 a share, year to Mar 2026.
Ex-dateTypePer share
21 Sep 2026Final₹10.00
16 Sep 2025Final₹8.00
17 Sep 2024Final₹5.00
22 Sep 2023Final₹3.00
11 Aug 2022Final₹2.00
20 Sep 2021Final₹1.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Dixon Technologies (India) announcements

Dixon Technologies (India) share price by year

Each calendar year to 2025.Dixon Technologies (India) share price history

YearClose at year endChangeHighest closeLowest close
202512,102.00−32.5%18,451.8511,767.00
202417,936.30+173.1%18,940.155,853.85
20236,566.75+68.2%6,566.752,644.20
20223,904.60−29.1%5,517.103,325.95
20215,509.55+104.8%5,753.452,724.38
20202,689.71+254.0%2,743.27636.81
2019759.86+84.2%782.48374.38
2018412.58−50.8%840.09382.96
2017838.19–878.85519.96
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. 2017 is from its first session, 18 Sep 2017.

Recent sessions

The 9 trading days to 29 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
29 Oct 202611,400.0011,589.0011,361.0011,488.0011,454.422,99,63742.2%
28 Oct 202611,235.0011,522.0011,121.0011,400.0011,330.902,59,77131.6%
27 Oct 202611,200.0011,321.0011,115.0011,233.0011,238.203,04,44350.2%
26 Oct 202611,108.0011,278.0011,022.0011,161.0011,176.262,33,08634.2%
23 Oct 202611,625.0011,689.0011,100.0011,191.0011,281.953,52,29239.9%
22 Oct 202611,670.0011,805.0011,421.0011,594.0011,619.762,76,95831.0%
21 Oct 202612,175.0012,179.0011,581.0011,689.0011,789.385,03,30245.1%
19 Oct 202612,400.0012,495.0012,084.0012,100.0012,284.783,10,83145.1%
16 Oct 202612,770.0012,850.0012,268.0012,340.0012,455.384,77,55445.7%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Stock split history

Ex-dateEventPrice factorWhat happened
18 Mar 2021Split0.2000Each share became 5.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.

Company details

Chairperson
SUNIL VACHANI
At the end of the quarter to Sep 2026
Managing director
ATUL B. LALL
At the end of the quarter to Sep 2026
NSE symbol
DIXON
BSE code
540699
ISIN
INE935N01020
Industry
Consumer Durables
CIN
L32101UP1993PLC066581
Corporate identity number, the registrar of companies' code for it
Incorporated
1993
Registered office
B-14 & 15, Phase-II, Noida 201305, Uttar Pradesh
Share registrar
KFin Technologies Ltd
Keeps the register of shareholders and handles transfers and dividend payments