India · Delayed Price · Currency is INR Dixon Technologies (India) Earnings Call Transcripts
Fiscal Year 2026
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FY26 revenue grew 26% YoY to INR 48,893 crores with strong cash flow and ROCE of 44.8%. FY27 guidance targets INR 56,000 crores revenue (excl. Vivo), with growth driven by telecom, IT hardware, lighting, and new capacity expansions, despite margin pressure from PLI expiry.
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Q3 FY26 saw modest revenue growth and stable profitability amid industry headwinds, with robust ROE/ROCE and strong balance sheet. Expansion in components, new JVs, and capacity additions position the business for long-term growth, despite near-term margin and demand pressures.
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Q2 FY26 saw 29% revenue growth and 37% PAT growth year-over-year, with strong performance in mobile, telecom, and IT hardware segments. Strategic JVs, capacity expansions, and backward integration are set to drive future growth, with a confident outlook for INR 1 lakh crore sales in 3–4 years.
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Q1FY26 delivered 95% revenue growth and 100% PAT growth year-over-year, driven by strong mobile, telecom, and component businesses. Strategic JVs, capacity expansions, and robust order books support a positive outlook, with CapEx for FY26 expected at INR 1,150–1,200 crore.
Fiscal Year 2025
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Q4 saw 120% YoY revenue growth and 128% EBITDA growth, with robust performance across segments, especially mobile phones and telecom. Margin expansion is expected to continue via backward integration and operational efficiency, despite PLI scheme expiry risks.
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Q3 FY25 delivered strong revenue and profit growth, driven by mobile and diversified segments, with robust order books and ongoing capacity expansion. Margin pressure from mobile mix is expected to ease as backward integration and new component manufacturing ramp up.
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Q2 FY25 saw revenue surge 133% year-over-year to INR 11,528 crores, with strong growth in mobile and EMS segments and robust order books across businesses. Margin pressure from higher mobile mix is expected to ease as backward integration matures, with significant CapEx and expansion plans underway.
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Q1 FY25 saw revenue double year-over-year, with strong growth in mobile, EMS, and home appliances. Strategic investments in capacity, backward integration, and new product lines are driving future growth, while margins and returns remain robust.