Dixon Technologies (India) Ltd. (IN:DIXON)
:DIXON
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Dixon Technologies (India) Ltd. (DIXON) AI Stock Analysis

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IN:DIXON

Dixon Technologies (India) Ltd.

(DIXON)

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Neutral 60 (OpenAI - 4o)
Rating:60Neutral
Price Target:
₹15,831.00
▲(2.67% Upside)
Dixon Technologies' strong financial performance is a key strength, with robust revenue growth and improved profitability. However, technical analysis indicates bearish momentum, and the high P/E ratio suggests potential overvaluation. These factors contribute to a moderate overall stock score.

Dixon Technologies (India) Ltd. (DIXON) vs. iShares MSCI India ETF (INDA)

Dixon Technologies (India) Ltd. Business Overview & Revenue Model

Company DescriptionDixon Technologies (India) Limited provides electronic manufacturing services in India. The company offers consumer electronics, including LED TVs, and AC PCB; home appliances, such as washing machines; lighting products comprising LED bulbs, battens, and down lighters, etc.; mobile phones and EMS which include smart phones, medical electronics, set top boxes, IT products, and telecom products; and security systems that consist of CCTV camera and digital video recorders. It also provides solutions in reverse logistics, such as repair and refurbishment services. Dixon Technologies (India) Limited was incorporated in 1993 and is headquartered in Noida, India.
How the Company Makes MoneyDixon Technologies generates revenue primarily through its electronics manufacturing services, which include contract manufacturing for major brands in the consumer electronics sector. The company earns money by producing a variety of products such as LED televisions, mobile phones, and lighting solutions, often under private labels for its clients. Key revenue streams include direct sales of manufactured goods to OEMs (Original Equipment Manufacturers) and ODMs (Original Design Manufacturers), as well as partnerships with leading brands that outsource their production to Dixon. Additionally, the company benefits from government initiatives to promote local manufacturing, which enhances its competitiveness and market presence.

Dixon Technologies (India) Ltd. Financial Statement Overview

Summary
Dixon Technologies exhibits strong financial performance with impressive revenue growth, improved profitability, and solid cash flow management. The company has effectively reduced leverage, enhancing financial stability. While the equity ratio could be further improved, the overall financial health is commendable.
Income Statement
88
Very Positive
Dixon Technologies has shown impressive revenue growth with a substantial increase from 2024 to 2025. The gross profit margin is strong at 7.11% in TTM, indicating effective cost management. The net profit margin improved to 2.63% in TTM, showing enhanced profitability. EBIT and EBITDA margins are also healthy, reflecting operational efficiency. Overall, the income statement reveals strong growth and profitability trends, making it a key strength for the company.
Balance Sheet
82
Very Positive
The company's debt-to-equity ratio has significantly improved, indicating reduced leverage and enhanced financial stability. The return on equity is robust at 34.88% in TTM, showcasing efficient use of equity. The equity ratio stands at 19.05%, reflecting a solid equity base. The balance sheet highlights a strong financial position with reduced debt burden, although further improvement in equity ratio would be beneficial.
Cash Flow
85
Very Positive
Dixon Technologies demonstrates solid cash flow management with positive free cash flow growth in the TTM period. The operating cash flow to net income ratio is healthy, indicating effective cash conversion. The free cash flow to net income ratio is positive, reflecting the company's ability to generate cash from operations. Overall, cash flow metrics are strong, supporting the company’s growth and operational needs.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue451.16B388.60B176.91B121.92B106.97B64.48B
Gross Profit34.03B30.05B16.39B11.64B9.09B6.71B
EBITDA16.40B14.47B6.64B4.95B3.62B2.79B
Net Income11.87B10.96B3.68B2.56B1.90B1.60B
Balance Sheet
Total Assets178.58B167.67B69.91B46.79B42.77B28.46B
Cash, Cash Equivalents and Short-Term Investments2.23B2.64B2.09B3.49B3.11B1.59B
Total Debt90.00M6.71B4.89B4.53B6.67B2.95B
Total Liabilities139.42B132.98B52.69B33.95B32.80B21.08B
Stockholders Equity34.02B30.10B16.95B12.85B9.97B7.37B
Cash Flow
Free Cash Flow2.77B2.10B-1.20M2.65B-1.48B19.39M
Operating Cash Flow13.02B11.50B5.84B7.26B2.73B1.70B
Investing Cash Flow-12.96B-12.29B-5.31B-3.56B-4.64B-2.65B
Financing Cash Flow-136.50M-265.70M-699.70M-3.30B3.04B634.81M

Dixon Technologies (India) Ltd. Technical Analysis

Technical Analysis Sentiment
Negative
Last Price15419.30
Price Trends
50DMA
16749.84
Negative
100DMA
16419.75
Negative
200DMA
15563.13
Negative
Market Momentum
MACD
-423.78
Negative
RSI
41.37
Neutral
STOCH
66.48
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DIXON, the sentiment is Negative. The current price of 15419.3 is below the 20-day moving average (MA) of 15550.29, below the 50-day MA of 16749.84, and below the 200-day MA of 15563.13, indicating a bearish trend. The MACD of -423.78 indicates Negative momentum. The RSI at 41.37 is Neutral, neither overbought nor oversold. The STOCH value of 66.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:DIXON.

Dixon Technologies (India) Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
76
Outperform
₹1.14T46.230.45%22.25%36.99%
67
Neutral
₹162.56B55.940.43%6.34%-2.25%
66
Neutral
₹932.25B63.700.68%7.26%3.66%
62
Neutral
$20.33B14.63-3.31%3.23%1.93%-12.26%
60
Neutral
₹923.01B62.770.05%75.56%103.31%
59
Neutral
₹174.35B48.310.41%4.14%16.19%
57
Neutral
₹58.66B56.840.59%0.80%-4.31%
* Consumer Defensive Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
IN:DIXON
Dixon Technologies (India) Ltd.
15,419.30
616.94
4.17%
IN:BAJAJELEC
Bajaj Electricals Limited
508.45
-253.88
-33.30%
IN:HAVELLS
Havells India Limited
1,469.05
-138.36
-8.61%
IN:POLYCAB
Polycab India Ltd.
7,628.15
1,216.82
18.98%
IN:VGUARD
V-Guard Industries Limited
351.35
-43.47
-11.01%
IN:WHIRLPOOL
Whirlpool Of India Limited
1,244.95
-576.67
-31.66%

Dixon Technologies (India) Ltd. Corporate Events

Dixon Technologies Engages with Institutional Investors in Virtual Meetings
Oct 28, 2025

Dixon Technologies (India) Ltd. recently held virtual meetings with institutional investors, including Star Union Daichi Life Insurance and Point72 Asset Management, on October 28, 2025. These one-on-one meetings did not involve the sharing of any unpublished price-sensitive information or presentations, indicating a focus on maintaining transparency and compliance with regulatory requirements.

Dixon Technologies Releases Q2 FY 26 Earnings Call Transcript
Oct 24, 2025

Dixon Technologies (India) Limited has released the transcript of its Q2 FY 26 earnings conference call, which took place on October 17, 2025. The transcript, now available on the company’s website, provides insights into the company’s financial performance and strategic direction. This release is significant for stakeholders as it offers transparency into Dixon’s operations and future plans, potentially impacting investor confidence and market positioning.

Dixon Technologies Releases Q2 FY2026 Conference Call Recording
Oct 17, 2025

Dixon Technologies (India) Limited has announced the availability of the audio recording of its conference call discussing the un-audited financial results for the second quarter of the fiscal year 2026. This move is in compliance with regulatory requirements and aims to enhance transparency and accessibility for stakeholders, reflecting the company’s commitment to maintaining open communication with investors and the market.

Dixon Technologies Appoints New Director-Finance
Oct 17, 2025

Dixon Technologies (India) Limited announced the appointment of Mr. Saurabh Gupta as an Additional Director in the capacity of Director-Finance for a five-year term, subject to shareholder approval. Mr. Gupta brings over 22 years of experience in finance and strategy, having held significant roles in various sectors. His appointment is expected to strengthen Dixon’s financial strategies and enhance its industry positioning, potentially benefiting stakeholders by reinforcing the company’s leadership in financial management.

Dixon Technologies Receives ESG Ratings from CRISIL
Oct 15, 2025

Dixon Technologies (India) Limited has been assigned a core ESG rating of ‘Crisil Core ESG 59’ and an ESG rating of ‘Crisil ESG 50’ by CRISIL ESG Ratings & Analytics Ltd. This rating was independently assigned based on publicly available data for the fiscal year 2025. The disclosure aligns with regulatory requirements and reflects Dixon’s commitment to transparency in its operations, potentially impacting its reputation and stakeholder confidence.

Dixon Technologies to Discuss Q2 FY26 Financial Results in Upcoming Investor Call
Oct 12, 2025

Dixon Technologies (India) Limited has scheduled a conference call with investors to discuss its unaudited financial results for the second quarter and half-year ending September 30, 2025. This call, set for October 17, 2025, will allow stakeholders to gain insights into the company’s financial performance and strategic direction, potentially impacting investor confidence and market positioning.

Dixon Technologies Concludes 32nd AGM with Key Resolutions Passed
Sep 24, 2025

Dixon Technologies (India) Limited held its 32nd Annual General Meeting on September 23, 2025, via video conferencing, where eight resolutions were passed. The meeting saw participation from both promoters and public shareholders, reflecting the company’s commitment to transparency and stakeholder engagement.

Dixon Technologies Appoints New Secretarial Auditor to Bolster Governance
Sep 24, 2025

Dixon Technologies (India) Limited has announced the appointment of M/s SBYN & Associates LLP as its Secretarial Auditor for a five-year term, following shareholder approval at the 32nd Annual General Meeting. This strategic move aligns with compliance requirements under the SEBI Listing Regulations and is expected to enhance Dixon’s corporate governance framework, thereby strengthening its industry position and stakeholder confidence.

Dixon Technologies Engages with Prospective Investor Wellington Management
Sep 22, 2025

Dixon Technologies (India) Ltd. recently held a one-on-one meeting with Wellington Management, a prospective institutional investor, on September 22, 2025. The meeting did not involve the sharing of any unpublished price-sensitive information or presentations, indicating a focus on maintaining transparency and compliance with regulatory requirements.

Dixon Technologies Schedules Investor Meetings for September 2025
Sep 22, 2025

Dixon Technologies has announced a series of meetings with institutional investors and analysts, scheduled between September 23 and September 26, 2025. These meetings, which will be held both in-person and virtually, are intended to engage with investors and analysts, although no unpublished price-sensitive information will be shared.

Dixon Technologies Acquires Majority Stake in Kunshan Q Tech
Sep 17, 2025

Dixon Technologies (India) Limited has announced the acquisition of a 51% stake in Kunshan Q Tech Microelectronics (India) Private Limited through a share subscription and purchase agreement. This strategic move is expected to enhance Dixon’s market position by expanding its capabilities in the electronics manufacturing sector, potentially benefiting stakeholders through increased operational capacity and market reach.

Dixon Technologies Faces SEBI Compliance Query Over Financial Discrepancies
Sep 8, 2025

Dixon Technologies (India) Ltd. has been asked by the Exchange to provide clarification regarding discrepancies in its financial results for the quarter ending June 30, 2025, as per SEBI regulations. The company has not yet submitted segment details and there are discrepancies in the XBRL financial results, which could impact stakeholders’ trust and the company’s compliance standing.

Dixon Technologies Announces Virtual AGM to Enhance Engagement
Aug 30, 2025

Dixon Technologies (India) Limited announced the publication of a notice for its 32nd Annual General Meeting, which will be conducted through video conferencing and other audio-visual means. This move reflects the company’s adaptation to modern communication methods, potentially enhancing shareholder engagement and operational efficiency.

Dixon Technologies Schedules Investor Meetings for September 2025
Aug 27, 2025

Dixon Technologies (India) Limited has announced a series of scheduled meetings with institutional investors and analysts, set to take place in early September 2025. These meetings, which will be held in-person, aim to engage with various stakeholders without sharing any unpublished price-sensitive information or making any presentations, highlighting the company’s commitment to transparency and investor relations.

Dixon Technologies Schedules Institutional Investor Meeting
Aug 26, 2025

Dixon Technologies (India) Ltd. has announced a scheduled meeting with institutional investors, specifically with Axis Mutual Fund, on August 28, 2025. The meeting will be conducted in person and is intended to engage with analysts, advisors, and investors, although no unpublished price-sensitive information or presentations will be shared. This meeting reflects Dixon’s ongoing efforts to maintain transparency and communication with its stakeholders, potentially impacting investor relations and market perceptions.

Dixon Technologies Engages with Macquarie Capital in Investor Meeting
Aug 12, 2025

Dixon Technologies (India) Ltd. recently held a virtual one-on-one meeting with Macquarie Capital on August 11, 2025, as part of their institutional investor engagement. The meeting did not involve sharing any unpublished price-sensitive information or presentations, indicating a focus on maintaining transparency and compliance with SEBI regulations.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Nov 07, 2025