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Dixon Technologies Overview

Dixon Technologies (India) Ltd, previously Dixon Technologies (India) Pvt Ltd, is an India-based design-focused products and solutions business enterprise. The Company is engaged in manufacturing products in the client durables, lighting fixtures and mobile telephones markets in India. Its product portfolio includes customer electronics; domestic appliances; lighting merchandise; and cellular phones. It additionally presents solutions in reverse logistics, which includes repair and refurbishment services of set top boxes, cellular phones and LE...Read More

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Dixon Technologies Key Financials

Market Cap ₹65128 Cr.

Stock P/E 52.8

P/B 16

Current Price ₹10732

Book Value ₹ 669.7

Face Value 2

52W High ₹18471.5

Dividend Yield 0.07%

52W Low ₹ 10708.3

Dixon Technologies Share Price

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Volume
Price

Dixon Technologies Quarterly Price

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Dixon Technologies Peer Comparison

Dixon Technologies Quarterly Results

#(Fig in Cr.) Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
Net Sales 3272 4943 4818 4658 6580 11534 10454 10293 12836 14855
Other Income 3 1 2 17 8 -6 7 11 2 496
Total Income 3274 4944 4821 4675 6588 11528 10460 10304 12837 15351
Total Expenditure 3140 4744 4634 4476 6332 11108 10063 9850 12353 14294
Operating Profit 135 200 187 199 256 421 397 454 484 1057
Interest 14 17 22 21 29 38 41 46 33 38
Depreciation 34 36 41 51 55 66 75 86 93 96
Exceptional Income / Expenses 0 0 0 0 0 210 0 250 0 0
Profit Before Tax 87 146 124 127 172 526 282 572 359 922
Provision for Tax 23 35 29 32 40 117 69 111 86 178
Profit After Tax 64 111 95 94 132 409 213 461 273 745
Adjustments 5 -4 1 1 1 -19 -41 -60 -48 -75
Profit After Adjustments 69 107 96 95 134 390 171 401 225 670
Adjusted Earnings Per Share 11.6 18 16.1 15.9 22.3 65.1 28.5 66.5 37.2 110.7

Dixon Technologies Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 1201 1388 2457 2842 2984 4400 6448 10697 12192 17691 38860 48438
Other Income 3 3 1 4 6 5 2 4 6 23 20 516
Total Income 1204 1391 2458 2846 2990 4405 6450 10701 12198 17713 38880 48952
Total Expenditure 1170 1332 2366 2729 2848 4173 6156 10313 11676 16987 37345 46560
Operating Profit 35 59 93 117 142 233 293 388 522 726 1535 2392
Interest 10 12 16 13 26 39 33 49 64 81 162 158
Depreciation 7 8 11 15 22 37 44 84 115 162 281 350
Exceptional Income / Expenses 0 -3 0 0 0 0 0 0 0 0 460 250
Profit Before Tax 17 35 66 88 94 157 217 255 345 494 1570 2135
Provision for Tax 5 8 19 27 30 36 57 64 90 119 337 444
Profit After Tax 12 27 48 61 63 121 160 190 255 375 1233 1692
Adjustments -1 0 0 0 0 0 0 -0 0 -7 -137 -224
Profit After Adjustments 11 27 48 61 63 121 160 190 256 368 1096 1467
Adjusted Earnings Per Share 3 7.6 8.7 10.8 11.2 20.8 27.3 32 42.9 61.5 181.8 242.9

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 120% 54% 55% 42%
Operating Profit CAGR 111% 58% 46% 46%
PAT CAGR 229% 87% 59% 59%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -37% 45% 28% NA%
ROE Average 54% 34% 30% 26%
ROCE Average 68% 44% 38% 33%

Dixon Technologies Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 95 118 197 315 378 541 737 997 1285 1695 3010
Minority's Interest 3 0 0 0 0 0 0 1 -0 28 459
Borrowings 41 52 10 8 6 11 80 297 145 113 81
Other Non-Current Liabilities 8 10 3 8 177 111 158 247 309 423 612
Total Current Liabilities 174 233 579 635 929 1034 1871 2736 2941 4732 12595
Total Liabilities 321 412 788 966 1491 1697 2846 4277 4679 6990 16758
Fixed Assets 97 124 137 179 241 414 550 1003 1244 1996 2774
Other Non-Current Assets 17 16 14 32 181 37 104 127 297 157 890
Total Current Assets 207 272 638 754 1069 1246 2191 3147 3139 4836 13094
Total Assets 321 412 788 966 1491 1697 2846 4277 4679 6990 16758

Dixon Technologies Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 1 1 2 3 13 14 96 64 176 217 200
Cash Flow from Operating Activities 44 41 53 68 -3 237 170 273 726 584 1150
Cash Flow from Investing Activities -22 -22 -43 -100 -64 -99 -265 -464 -356 -531 -1229
Cash Flow from Financing Activities -22 -19 -8 42 69 -57 63 304 -330 -70 -27
Net Cash Inflow / Outflow -0 1 1 10 2 81 -32 113 41 -17 -106
Closing Cash & Cash Equivalent 1 2 3 13 14 96 64 176 217 200 231

Dixon Technologies Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 3.05 7.57 8.66 10.76 11.19 20.83 27.29 32.04 42.91 61.5 181.83
CEPS(Rs) 5.28 9.91 10.61 13.44 15.01 27.14 34.76 46.21 62.08 89.77 251.22
DPS(Rs) 0.2 2.5 1.2 0.4 0.4 0.8 1 2 3 5 8
Book NAV/Share(Rs) 26.24 32.52 35.88 55.62 66.33 92.84 124.44 166.1 212.94 280.33 482.24
Core EBITDA Margin(%) 2.6 3.96 3.65 3.95 4.56 5.17 4.52 3.59 4.23 3.98 3.9
EBIT Margin(%) 2.28 3.36 3.28 3.56 4.03 4.46 3.87 2.84 3.35 3.25 4.45
Pre Tax Margin(%) 1.43 2.5 2.66 3.09 3.14 3.56 3.36 2.38 2.83 2.79 4.04
PAT Margin (%) 1 1.94 1.9 2.13 2.12 2.74 2.47 1.78 2.09 2.12 3.17
Cash Profit Margin (%) 1.57 2.54 2.33 2.67 2.85 3.57 3.15 2.56 3.03 3.03 3.89
ROA(%) 4.01 7.47 7.93 6.94 5.16 7.56 7.04 5.34 5.7 6.43 10.38
ROE(%) 13.61 25.78 30.24 23.79 18.35 26.41 25.25 22.2 22.63 25.47 53.8
ROCE(%) 15.76 25.65 37.37 33.7 27.33 34.2 32.83 25.9 27.98 34.65 68.4
Receivable days 15.35 18.66 26.95 37.01 49.85 42.8 45.34 41.66 45.94 41.57 43.58
Inventory Days 30.87 32.29 30.56 38.67 44.68 37.59 35.08 32.35 31.61 27.34 26.7
Payable days 34.96 46.28 57.61 73.99 87.74 79.37 83.78 75.08 78.92 74.09 76.11
PER(x) 0 0 0 61.01 42.03 34.33 134.47 134.55 66.69 121.65 72.48
Price/Book(x) 0 0 0 11.8 7.09 7.7 29.49 25.95 13.44 26.69 27.33
Dividend Yield(%) 0 0 0 0.06 0.09 0.11 0.03 0.05 0.1 0.07 0.06
EV/Net Sales(x) 0.06 0.05 0.02 1.31 0.93 0.94 3.35 2.42 1.39 2.53 2.04
EV/Core EBITDA(x) 2.19 1.24 0.46 31.8 19.52 17.72 73.52 66.63 32.56 61.51 51.69
Net Sales Growth(%) 9.84 15.56 76.99 15.65 5.03 47.44 46.55 65.89 13.98 45.1 119.66
EBIT Growth(%) -2.23 70.45 72.94 24.11 18.14 63.33 27.28 21.78 34.44 40.59 201.21
PAT Growth(%) -9.42 124.42 73.73 28.02 4.03 90.19 32.61 19.11 34.02 46.98 228.76
EPS Growth(%) -11.9 148.41 14.35 24.18 4.04 86.16 31.03 17.4 33.91 43.32 195.68
Debt/Equity(x) 0.84 0.66 0.24 0.14 0.38 0.16 0.21 0.46 0.14 0.09 0.07
Current Ratio(x) 1.19 1.17 1.1 1.19 1.15 1.21 1.17 1.15 1.07 1.02 1.04
Quick Ratio(x) 0.54 0.59 0.61 0.68 0.71 0.72 0.77 0.73 0.74 0.66 0.72
Interest Cover(x) 2.69 3.92 5.27 7.56 4.56 4.97 7.63 6.16 6.38 7.1 10.72
Total Debt/Mcap(x) 0 0 0 0.01 0.05 0.02 0.01 0.02 0.01 0 0

Dixon Technologies Shareholding Pattern

# Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
Promoter 34.04 33.8 33.63 33.44 33.24 32.89 32.42 32.27 28.95 28.92
FII 14.99 15.66 17.41 17.84 19.33 22.69 23.22 21.81 20.55 20.69
DII 24.61 27.44 26.4 27.01 26.08 23.14 22.62 23.07 26.69 28.94
Public 26.36 23.1 22.57 21.71 21.35 21.28 21.74 22.85 23.81 21.45
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Dixon Technologies News

Dixon Technologies Pros & Cons

Pros

  • Company has delivered good profit growth of 59% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 34%
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 28.92%.
  • Debtor days have increased from 74.09 to 76.11days.
  • Stock is trading at 16 times its book value.
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