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Dixon Technologies

DIXON · NSE & BSE · Electronics Manufacturing · EMS / ODM

Current price

₹14,000.00

+1.50%FY24 (illustrative)

Illustrative / demo price - not live.

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About the company

A leading electronics manufacturing services (EMS) company producing mobiles, TVs and appliances.

Origin & history

Founded in 1993, Dixon scaled into one of India's largest contract electronics manufacturers.

Founded

1993

Headquarters

Noida

Business segments

Mobile & EMS60.0%
Consumer Electronics25.0%
Lighting & Others15.0%

Competitive position (moat)

Scale, manufacturing capability and relationships with global brands.

Governance

Founder-led with professional management.

Promoter holding

36.0%

Institutional holding

25.0%

Why it's interesting

A key beneficiary of the Make-in-India and production-linked incentive (PLI) push.

What to verify

  • PLI scheme continuity and incentives
  • Customer concentration
  • Margin sustainability in a competitive EMS business

Key risks

  • Customer concentration
  • PLI policy risk
  • Thin margins

Valuation snapshot

Market cap

₹84,000 cr

Total value of all shares: price multiplied by shares outstanding.

P/E

75.0

Price to earnings: how much you pay per rupee of profit.

P/B

14.0

Price to book: how the price compares to net asset value per share.

EV/EBITDA

45.0

Enterprise value to operating profit: a valuation that accounts for debt and cash.

Dividend yield

0.1%

Annual dividend per share as a percentage of the price.

Profitability

Revenue

₹22,000 cr

EBITDA

₹1,400 cr

Net income

₹1,100 cr

EPS

₹185.00

EBITDA margin

6.4%

Net margin

5.0%

ROE

20.0%

ROCE

22.0%

Revenue growth

40.0%

Balance sheet health

Debt/equity

0.4

Total debt divided by shareholders' equity: how leveraged the company is.

Cash

₹1,500 cr

Cash and equivalents on the balance sheet.

Interest coverage

5.0

How many times operating profit covers interest expense.

Dividends & returns

Dividend yield

0.1%

Dividend yield is the annual payout as a share of the price. A higher yield can signal a mature, cash-generative business - or a falling price. Check the payout history before reading too much into it.

Growth trend

Revenue growth

40.0%

Revenue growth shows how fast the top line is expanding. Pair it with margin trends to see whether growth is turning into profit.

Ownership

Promoter holding

36.0%

Share held by the founding family or group.

Institutional holding

25.0%

Share held by mutual funds, insurers and foreign institutions.

Placeholders - verify in the shareholding pattern.

Key catalysts

  • PLI ramp
  • New customers

Red flags

  • Customer concentration
  • Rich valuation

52-week range

52-week low

₹7,000.00

Lowest price in the 52-week range.

52-week high

₹15,000.00

Highest price in the 52-week range.