Dixon Technologies (India) Ltd

Dixon Technologies Reports Strong Growth & Expansion Plans 📈

- Lighting JV with Signify (Lightanium) operational since August 2025 with strong order book.

- IT hardware (laptops, tablets) revenue skyrocketed 481% YoY to ₹331 crores.

- Telecom & networking products revenue grew 148% YoY to ₹1,635 crores, including new microwave radio orders.

- JV with HKC: Phase 1 capacity at 24M smartphone & 2M notebook units/year; Phase 2 to expand to 60M units/year plus LED TVs & automotive displays.

- Acquired 51% stake in Q Tech India, targeting ₹6,000-7,000 crores revenue in 2-3 years.

- Aiming for ₹1 lakh crore revenue in 3-4 years with margins expanding to 4-4.5%.

- Focus on backward integration (displays, cameras, batteries) to boost margins.

- Export expansion planned for mobile, lighting & telecom products.

- Efficient working capital cycle at -6 days; net debt position ₹203 crores.

- ROCE at 49.1% and ROE at 34.3%.

- PLI income: ₹150 crores (Q2 FY26) & ₹290 crores (H1 FY26).

- CAPEX of ₹550 crores in H1 FY26, similar expected in H2.

- Consolidated Q2 FY26 revenues up 29% YoY to ₹14,858 crores.

- Mobile & EMS segment revenue grew 41% YoY to ₹13,361 crores; operating profit up 53% to ₹472 crores.

- Consumer electronics (LED TV & refrigerators) revenue at ₹956 crores, impacted by GST cuts & new norms.

- Home appliances revenue ₹429 crores with 11.7% operating margin.

- Wearables & hearables revenue ₹207 crores with healthy margins.

- AC JV revenue at ₹79 crores, affected by subdued demand.

- Consolidated EBITDA up 34% YoY to ₹564 crores; PAT up 27% to ₹323 crores.