DIXON TECHNOLOGIES Q4 RESULTS: Riding High on Mobile Manufacturing Boom

Dixon Technologies (India) Ltd., a leading player in India’s Electronics Manufacturing Services (EMS) sector, has announced its Q4 FY24 results, showing robust revenue growth, sharp rise in net profit and strong progress from the Mobile & EMS division. As India focuses on becoming a global manufacturing hub, Dixon continues to be at the forefront of this transformation.

1. Revenue from Operations: ₹4,657.97 crore
(Up 52% from ₹3,065.45 crore in Q4 FY23)

2. Net Profit (PAT): ₹97.3 crore
(Up 20.6% from ₹80.62 crore in Q4 FY23)

3. EBITDA: ₹199 crore
(Up 26% YoY)

4. EBITDA Margin: 4.3%
(Down from 5.2% in Q4 FY23)

5. EPS: ₹16.31
(Compared to ₹13.57 last year)

1. Mobile & EMS

• Revenue: ₹3,091 crore
• Growth: 119% YoY
• Contribution: Over 66% of total revenue
• Comment: Massive boost driven by larger volumes and strengthened partnerships with global smartphone brands.

2. Consumer Electronics (TVs)

• Revenue: ₹897 crore
• Growth: -9% YoY
• Comment: A decline due to weak demand and market saturation in the television segment.

3. Lighting Products

• Revenue: ₹197 crore
• Growth: -27% YoY
• Comment: A drop due to price competitiveness and reduced institutional orders.

4. Home Appliances (Washing Machines)

• Revenue: ₹294 crore
• Growth: +5% YoY
• Comment: Stable growth fueled by seasonal demand and OEM expansions.

5. Security Systems

• Revenue: ₹179 crore
• Growth: +44% YoY
• Comment: Rapid growth due to increasing demand for surveillance and smart home solutions.

1. PLI Scheme Participation: Dixon remains one of the key beneficiaries of India’s Production Linked Incentive schemes for mobile and IT hardware manufacturing.

2. Export Growth Strategy: Plans are underway to increase exports, especially to Asia and Africa, leveraging India’s growing status as a trusted manufacturing alternative to China.

3. Expansion & CapEx: The company has been investing in automation and setting up new manufacturing units to meet rising demand, especially in wearables and LED lighting.

• Final Dividend Declared: ₹5 per share

With electronics manufacturing gaining national priority, Dixon Technologies is in a sweet spot to:

• Lead India’s EMS exports
• Expand its client base in mobile, wearables, and appliances
• Improve operational efficiencies via automation and supply chain optimization

However, margin restoration and diversifying segment contributions will be critical themes for Dixon in the coming quarters.

Dixon Technologies’ Q4 FY25 results cement its position as India’s leading EMS brand, particularly in mobile manufacturing. While some legacy verticals face headwinds, the company’s forward-looking investments in exports, wearables, and capacity scaling put it on a strong path for sustained growth.

For long-term investors and policy watchers alike, Dixon remains a bellwether for India’s electronic manufacturing ambitions.

DISCLAIMER: This Blog is for informational purposes only and should not be construed as investment advice. Please invest based on your risk profile