Dixon, Amber, Syrma: Harshit Kapadia on why India's EMS sector is back on the radar & which stocks to buy now

Elara Securities analyst Harshit Kapadia highlighted India's EMS sector as a multi-decade opportunity, citing global supply chain diversification, manufacturing cost advantage, and a fresh ₹40,000 crore government policy outlay. Dixon Technologies' Vivo deal is projected to deliver around ₹5,000 crore revenue in FY27 from a 10% share ramp-up, scaling to roughly ₹10,000 crore in FY28, with the narrative shifting from topline to earnings growth. Syrma SGS Technology's Kaga Electronics JV is expected to drive 40-50% growth with superior margins by Q4 FY27, while top picks are Amber Enterprises, Syrma SGS, and Kaynes Technology, with Dixon selectively positive.