Want to see IN:DIXON full AI Analyst Report?
Top Page
Dixon Technologies (India) Ltd.
(DIXON)
Select Model
Select Model
Rating:69Neutral
Price Target:
₹15,435.00
▲(5.29% Upside)
Action:Reiterated
Date:08/01/26
The score is driven primarily by strong financial performance (high growth, strong balance sheet and ROE) and a positive price trend above major moving averages. These positives are tempered by inconsistent cash generation (negative TTM free cash flow) and a rich valuation (high P/E with minimal dividend yield).
Positive Factors
Strong Revenue and EPS Growth
Sustained revenue expansion alongside much faster EPS growth indicates improving scale and execution. If maintained, this combination can strengthen earnings power and support continued investment in manufacturing capacity and capabilities.
Negative Factors
Volatile Free Cash Flow
Uneven cash conversion means reported earnings are not consistently translating into surplus cash. Scaling-related investment and working-capital needs could constrain liquidity and increase funding requirements as production expands.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue and EPS Growth
Sustained revenue expansion alongside much faster EPS growth indicates improving scale and execution. If maintained, this combination can strengthen earnings power and support continued investment in manufacturing capacity and capabilities.
Read all positive factors
Dixon Technologies (India) Ltd. (DIXON) vs. iShares MSCI India ETF (INDA)
Market Cap
₹862.10B
Dividend Yield0.06%
Average Volume (3M)31.91K
Price to Earnings (P/E)43.8
Beta (1Y)1.23
Revenue Growth14.34%
EPS Growth56.47%
CountryIN
Employees1,693
SectorGeneral
Sector StrengthN/A
IndustryConsumer Electronics
Share Statistics
EPS (TTM)315.86
Shares Outstanding61,142,130
10 Day Avg. Volume24,895
30 Day Avg. Volume31,906
Financial Highlights & Ratios
PEG Ratio0.73
Price to Book (P/B)10.96
Price to Sales (P/S)1.05
P/FCF Ratio82.72
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹14,676.67Price Target Upside0.11% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)175.47
Revenue Forecast (FY)₹729.82B
Dixon Technologies (India) Ltd. Business Overview & Revenue Model
Company Description
Dixon Technologies (India) Limited is an India-based company that provides a wide array of electronic manufacturing services. Its product offerings are extensive, covering consumer electronics such as LED televisions and AC PCBs, as well as home a...
How the Company Makes Money
Dixon primarily makes money by providing contract manufacturing and related services to brand owners/OEMs. Its revenue model is largely business-to-business and is driven by (1) manufacturing and assembly income from producing finished goods (and,...
Dixon Technologies (India) Ltd. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
82
Very Positive
Cash Flow
56
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 515.85B | 488.73B | 388.60B | 176.91B | 121.92B | 106.97B |
| Gross Profit | 24.12B | 24.91B | 30.05B | 16.39B | 11.64B | 9.09B |
| EBITDA | 31.01B | 26.01B | 14.47B | 6.64B | 4.95B | 3.62B |
| Net Income | 18.77B | 14.39B | 10.96B | 3.68B | 2.56B | 1.90B |
Balance Sheet | ||||||
| Total Assets | 248.54B | 191.62B | 167.67B | 69.91B | 46.79B | 42.77B |
| Cash, Cash Equivalents and Short-Term Investments | 8.05B | 12.41B | 2.64B | 2.09B | 3.49B | 3.11B |
| Total Debt | 5.79B | 9.94B | 6.71B | 4.89B | 4.53B | 6.67B |
| Total Liabilities | 185.91B | 137.75B | 132.98B | 52.69B | 33.95B | 32.80B |
| Stockholders Equity | 54.99B | 46.77B | 30.10B | 16.95B | 12.85B | 9.97B |
Cash Flow | ||||||
| Free Cash Flow | -531.90M | 6.19B | 2.10B | -1.20M | 2.65B | -1.48B |
| Operating Cash Flow | 10.62B | 16.87B | 11.50B | 5.84B | 7.26B | 2.73B |
| Investing Cash Flow | -12.42B | -12.42B | -12.29B | -5.31B | -3.56B | -4.64B |
| Financing Cash Flow | 2.59B | -214.80M | -265.70M | -699.70M | -3.30B | 3.04B |
Dixon Technologies (India) Ltd. Technical Analysis
Neutral
14660.00
Price Trends
14045.03
Negative
12761.32
Positive
12214.43
Positive
Market Momentum
47.01
Positive
40.68
Neutral
13.28
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DIXON, the sentiment is Neutral. The current price of 14660 is above the 20-day moving average (MA) of 14434.37, above the 50-day MA of 14045.03, and above the 200-day MA of 12214.43, indicating a neutral trend. The MACD of 47.01 indicates Positive momentum. The RSI at 40.68 is Neutral, neither overbought nor oversold. The STOCH value of 13.28 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:DIXON.
Dixon Technologies (India) Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹862.10B | 43.83 | ― | 0.06% | 14.34% | 56.47% | |
69 Neutral | ₹715.86B | 43.03 | ― | 0.89% | 10.10% | 15.60% | |
61 Neutral | ₹740.70B | 19.35 | ― | 0.08% | 94.31% | 74.80% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | ₹378.80B | 84.29 | ― | 0.35% | 3.80% | -30.64% | |
46 Neutral | ₹2.39B | -15.93 | ― | ― | 2.03% | -40.52% |
* General Sector Average
IN:DIXON
Dixon Technologies (India) Ltd.
13,820.30
-4,061.64
-22.71%
IN:BPL
BPL Limited
48.05
-36.00
-42.83%
IN:HAVELLS
Havells India Limited
1,121.10
-441.81
-28.27%
IN:VOLTAS
Voltas Limited
1,141.80
-248.58
-17.88%
IN:WAAREEENER
WAAREE Energies Limited
2,567.50
-908.35
-26.13%
IN:LGEINDIA
LG Electronics India Limited
1,647.85
-40.15
-2.38%
Dixon Technologies (India) Ltd. Corporate Events
Dixon Technologies Sets Q1 FY27 Earnings Call for 31 July
Jul 24, 2026
Dixon Technologies (India) Ltd. has scheduled an investor conference call to discuss its unaudited standalone and consolidated financial results for the quarter ended 30 June 2026. The Q1 FY27 earnings call will be held on Friday, 31 July 2026 at ...
Dixon Technologies Updates Bourses on One-on-One Meets With Institutional Investors
Jun 26, 2026
Dixon Technologies (India) Ltd. disclosed that senior company officials held in-person one-on-one meetings on 26 June 2026 with representatives from Investec Capital and DSP Mutual Fund as part of its ongoing engagement with analysts and instituti...
Dixon Technologies Reports Institutional Investor Meeting With Principal Global Asset Management
Jun 2, 2026
Dixon Technologies (India) Ltd. disclosed that its officials held a virtual one-on-one institutional investor meeting with Principal Global Asset Management on 1 June 2026 at 6:15 p.m. IST, in line with disclosure requirements under SEBI’s L...
Dixon Technologies Sets Virtual Investor Meetings With Key Institutions on 27 May
May 25, 2026
Dixon Technologies (India) Ltd. has scheduled a virtual group meeting on 27 May 2026 with a wide roster of institutional investors, mutual funds, insurance companies, and wealth managers, including ITI, JM Financial AMC, Aditya Birla Sun Life Insu...
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.