Dixon Technologies (India) Limited has informed the Exchange about Transcript
DIXON · price
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Dixon Technologies reported FY26 full-year revenues of INR48,893 crores (26% YoY growth) with EBITDA of INR1,887 crores (23% growth) and PAT of INR845 crores (20% growth). Q4 was flat due to geopolitical headwinds, memory chip inflation, and softer smartphone demand. Management guided FY27 revenue target of INR56,000 crores without Vivo, expecting flat mobile volumes but 12-15% ASP increase. Key growth drivers include IT hardware targeting INR4,000 crores, telecom to INR7,500-8,000 crores, lighting to INR1,700 crores (2x), and display JV (HKC) starting trials in Q3 with revenue target of INR5,500-6,000 crores at maturity. Camera module capacity being expanded from 70M to 190M units. Specialty EMS opportunity identified at INR3,000-4,000 crores scale with potential M&A. Working capital cycle is negative 8 days with strong balance sheet generating INR700+ crore free cash flow despite INR1,058 crore capex.
Margin pressure expected near-term due to PLI expiry (50-70 bps impact) but absolute profitability will grow. Component backward integration (camera modules, displays) will drive 40-50 bps margin expansion from FY27-28 onward.