Dixon Technologies (India) Limited has informed the Exchange about Transcript
DIXON · price
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Dixon Technologies reported a strong Q4 FY25 with consolidated revenue of Rs. 10,304 crore (up 120% YoY) and EBITDA of Rs. 454 crore (up 128% YoY). PAT jumped 322% to Rs. 401 crore, but this included a Rs. 250 crore one-time gain from fair value increase in its 6.5% stake in Aditya Infotech. Excluding this, adjusted PAT grew 95% to Rs. 185 crore. Mobile phones drove growth with Rs. 9,102 crore revenue (194% growth), while telecom and networking sales rose 5x to Rs. 1,288 crore. The company highlighted its push into components under the ECMS scheme, plans for display module production starting by end of FY26, and a smartphone volume target of 43-44 million units in FY26 rising to 60-65 million in FY27. ROCE stood at 48.5% and ROE at 32.5%, with near-zero debt (debt-to-equity of 0.07). Management guided Rs. 900-1,000 crore capex for FY26.
Strong headline numbers were partly flattered by a one-time gain, so adjusted profit growth of 95% is the more relevant measure. Investors should watch smartphone volume execution (targeting 43-44M in FY26), the ramp-up of component manufacturing under ECMS for margin expansion, and progress on the Vivo JV which is awaiting FDI approval. TV segment weakness was acknowledged and remains a concern.