Dixon Technologies (India) Limited
₹11,000.00-₹494.00 (-4.3%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹68,191 Cr
- P/E
- 121.0x
- EV / EBITDA
- 191.7x
- Revenue
- ₹5,401 Cr
- Net margin
- 2.9%
- ROCE
- 19.5%
Price chart
Technical chartScreen technicals →-29.7% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -16.3%
- 3M
- -23.3%
- 6M
- -1.6%
- 1Y
- -29.7%
- 5Y
- +96.8%
52-week range
Day change -₹494.00 (-4.3%) from ₹11,494 to ₹11,000 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in DIXON, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Large-cap with ₹68.2K Cr market capitalisation
Concerns1
- Valuation elevated — PE of 121.0x is 73% above peer average of 70.0x
Rule-based from financial data. Not advice.
About the company
Dixon Technologies (India) Limited, together with its subsidiaries, manufactures and sells electronic goods in India and internationally.
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Dixon Technologies (India) Limited, together with its subsidiaries, manufactures and sells electronic goods in India and internationally. The company offers consumer electronics, such as LED and smart TVs, interactive flat panels, monitors, IFPD commercial displays, digital signages, PCB and LCM panel assemblies, LED bars, and injection moulding; and lightning solutions, including LED and special lamps, battens, bulbs, synthetic down lighters, 2X2s, panels, strip and rope lighting, CoB luminaries, wall washers, fancy and desk lights, magnetic track lights, and smart lights, as well as professional lighting products comprising street, flood, and industry lights. It also provides home appliances comprising semi-automatic washing machine and fully automatic top load; refrigerators; 4G and 5G smart, foldable, and feature mobile phones; wireless wearables and hearables; computing devices, such as laptops, desktops, and notebooks; and telecommunication and networking products, which include 5G fixed wireless access devices, optical network terminals, and IPTV set-top boxes. In addition, the company is involved in the provision of electronic manufacturing services; trading; reverse logistics, such as repair and refurbishment of LED TV panels; repair of mobile phones; research and development; design and prototyping; manufacturing and assembly; and quality and performance. It exports its products. Dixon Technologies (India) Limited was incorporated in 1993 and is headquartered in Noida, India.
- Sector
- Technology
- Shares outstanding
- 6.1 Cr shares
- ISIN
- INE935N01020
- BSE code
- 540699
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹68,191 Cr
- P/E
- 121.0x
- P/B
- 23.9x
- EV / EBITDA
- 191.7x
- EV / Sales
- 10.6x
- P/S
- 10.6x
- Earnings yield
- 0.8%
- 52-week high
- ₹16,078.55
- 52-week low
- ₹9,669.50
Profitability
- Operating margin
- 5.0%
- Net margin
- 2.9%
- EBITDA margin
- 5.5%
- ROE
- 13.3%
- ROCE
- 19.5%
- ROA
- 6.6%
- Dividend payout
- 16.0%
- Tax rate
- 25.0%
- Other income, % of PBT
- 14.6%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹5,401 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -15.8%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 11.8%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹355 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -7.1%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 204.3%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 10.9%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹239 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -40.8%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹18.0 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 3.7%
Solvency and efficiency
- Current ratio
- 1.65
- Debt / Equity
- 0.17
- Debt / Assets
- 0.08
- Debt / EBITDA
- 0.67
- Interest coverage
- 7.25
- Financial leverage
- 2.03
- CFO / Net profit
- 1.28
- Cash / Market cap
- 2.7%
- Cash per share
- ₹305.05
- Asset turnover
- 2.26
- Fixed asset turnover
- 7.78
- Capital intensity
- 0.13
- Debtor days
- 52 days
- Inventory turnover
- 14.60
- Cash conversion cycle
- 7 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹10 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹5,153 Cr |
| Sales | Operating profit | ₹248 Cr |
| Operating profit | Interest | ₹55 Cr |
| Operating profit | Depreciation | ₹71 Cr |
| Operating profit | Profit before tax | ₹122 Cr |
| Other income | Profit before tax | ₹556 Cr |
| Profit before tax | Tax and other | ₹113 Cr |
| Profit before tax | Net profit | ₹566 Cr |
Revenue and net profit
Revenue fell 15.8% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹5,675 Cr | ₹152 Cr |
| FY2022 | ₹7,484 Cr | ₹151 Cr |
| FY2023 | ₹6,997 Cr | ₹211 Cr |
| FY2024 | ₹6,411 Cr | ₹186 Cr |
| FY2025 | ₹5,401 Cr | ₹566 Cr |
Cash flows
FY2025: ₹279 Cr from operations, -₹103 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹158 Cr | -₹108 Cr |
| FY2022 | ₹214 Cr | -₹35 Cr |
| FY2023 | ₹404 Cr | ₹121 Cr |
| FY2024 | ₹239 Cr | -₹27 Cr |
| FY2025 | ₹279 Cr | -₹103 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹5,401 Cr-15.8%1Y
- Net profit
- ₹566 Cr+204.3%1Y
- Cash from operations
- ₹279 Cr
- Free cash flow
- -₹103 Cr
- Revenue CAGR, 5Y
- 11.8%
- EBITDA CAGR, 5Y
- 10.8%
- Net profit CAGR, 5Y
- 10.9%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹5,401 Cr | ₹248 Cr | — | ₹566 Cr | ₹279 Cr | -₹103 Cr | 25.9% | -15.8% | +204.3% |
Monthly returns
Month-by-month returns of DIXON across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹3,480 Cr |
| Equity capital | ₹12 Cr |
| Reserves | ₹2,171 Cr |
| Borrowings | ₹303 Cr |
| Other liabilities | ₹995 Cr |
| Assets | ₹3,480 Cr |
| Fixed assets | ₹842 Cr |
| Capital work in progress | ₹174 Cr |
| Investments | ₹1,086 Cr |
| Other assets | ₹1,378 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
DIXON trades at 121.0x earnings against a peer median of 52.1x (a 132% premium).
Not shown (no positive earnings and no EV / Sales): PB Fintech Limited.
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Dixon Technologies (India) LimitedDIXONthis companyP/E ↑ premium | ₹68,191 Cr | 121.0x | 23.9x | 13.3% | 191.7x |
| Persistent Systems LimitedPERSISTENT | ₹1.0 L Cr | 68.6x | 15.0x | 20.6% | 66.6x |
| Info Edge(India) Ltd.NAUKRI | ₹86,455 Cr | 82.5x | 1.9x | 3.3% | 71.0x |
| Bharti Hexacom LimitedBHARTIHEXA | ₹83,980 Cr | 52.3x | 13.4x | 10.9% | 27.6x |
| PB Fintech LimitedPOLICYBZR | ₹75,814 Cr | — | 9.3x | 0.5% | 1567.2x |
| Oracle Financial Services Software LimitedOFSS | ₹66,928 Cr | 19.9x | 10.5x | 32.8% | 24.4x |
| COFORGE LIMITEDCOFORGE | ₹57,232 Cr | 81.8x | 9.5x | 30.0% | 45.1x |
| Mphasis LimitedMPHASIS | ₹54,771 Cr | 38.1x | 9.4x | 25.3% | 23.6x |
| Tata Communications LimitedTATACOMM | ₹49,590 Cr | 92.7x | 4.9x | 6.5% | 24.2x |
| Peer median | — | 52.1x | 7.8x | 14.5% | 34.2x |
Year-to-date ROI
DIXON since 1 January, against earlier years.
Historical volatility
DIXON's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 5.0% |
| FY2022 | 4.0% |
| FY2023 | 5.0% |
| FY2024 | 5.0% |
| FY2025 | 5.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹5,401 Cr |
| Costs | |
| Interest | ₹55 Cr |
| Expenses | ₹5,153 Cr |
| Operating profitOperating Profit | ₹248 Cr |
| Other income and charges | |
| Profit before tax | ₹679 Cr |
| Tax | |
| Net profitNet Profit | ₹566 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹3,480 Cr |
| Equity capitalEquity Capital | ₹12 Cr |
| Reserves | ₹2,171 Cr |
| Borrowings | ₹303 Cr |
| Other liabilitiesOther Liabilities | ₹995 Cr |
| AssetsTotal Assets | ₹3,480 Cr |
| Fixed assetsFixed Assets | ₹842 Cr |
| Capital work in progressCWIP | ₹174 Cr |
| Investments | ₹1,086 Cr |
| Other assetsOther Assets | ₹1,378 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹279 Cr |
| Investing cash flowCash from Investing Activity | -₹382 Cr |
| Financing cash flowCash from Financing Activity | ₹121 Cr |
| Change in cashNet Cash Flow | ₹18 Cr |
Learn while you research
Academy chapters picked for Dixon Technologies (India) Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 121.0, learn when high multiples are justified.6 min read
- 04 Growth InvestingTech & communications often trade on growth, learn the framework.7 min read
- 05 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read
- 06 How to Read a Cash-Flow StatementProfit can be manipulated; cash flow rarely lies.7 min read