Dixon Technologies Q1 FY27 Results: Profit Soars 156% as Revenue Crosses ₹16,000 Crore
India’s leading electronics manufacturing services (EMS) company, Dixon Technologies (India) Limited, kicked off FY27 with a blockbuster quarter. The company reported record revenue and a sharp jump in profitability, driven by strong execution across its manufacturing businesses and continued momentum in India’s electronics production ecosystem.
The Board of Directors approved the unaudited financial results for the quarter ended June 30, 2026, during its meeting held on July 31, 2026.
Dixon Technologies Q1 FY27 Financial Highlights
Consolidated Performance
Dixon delivered impressive year-on-year growth across all major financial metrics.
- Revenue from Operations (including other income): ₹16,076 crore, up 25% YoY
- EBITDA: ₹991 crore, up 105% YoY
- Profit Before Tax (PBT): ₹869 crore, up 137% YoY
- Profit After Tax (PAT): ₹718 crore, up 156% YoY
- Earnings Per Share (EPS): ₹118.00 (Basic)
The sharp rise in profitability reflects improved operating leverage, stronger product mix, and continued expansion in the company’s electronics manufacturing business.
Standalone Financial Performance
The standalone business also reported strong growth during the quarter.
- Revenue from Operations: ₹1,079.62 crore
- Total Income: ₹1,619.90 crore
- Profit Before Tax: ₹584.27 crore
- Net Profit: ₹498.10 crore
- Basic EPS: ₹81.88
The company benefited from higher other income and improved operational efficiency, resulting in a substantial increase in earnings compared with the corresponding quarter last year.
What’s Driving Dixon’s Growth?
Dixon continues to benefit from the rapid expansion of electronics manufacturing in India.
The company manufactures products across several high-growth categories, including:
- Smartphones
- Consumer electronics
- Home appliances
- IT hardware
- LED televisions
- Wearables
- Lighting products
- Telecom equipment
Growing demand from global brands, increasing localization, and government-backed manufacturing initiatives continue to strengthen Dixon’s position as India’s largest EMS company.
Production Linked Incentive (PLI) Boost
One of Dixon’s subsidiaries recognized ₹1,110.06 crore as incentive income under the Government of India’s Production Linked Incentive (PLI) Scheme.
The incentive relates to performance across multiple years and remains receivable pending formal approval and disbursement by the Project Management Agency (PMA).
The subsidiary has also recognized a corresponding liability of ₹603.95 crore payable to a customer under the related commercial arrangement.
Management stated that recognition of the incentive is supported by legal advice and ongoing discussions with government authorities.
Leadership Continuity
The Board approved the re-appointment of the company’s key leaders for another five-year term, subject to shareholder approval.
Sunil Vachani Re-appointed
Promoter Sunil Vachani will continue as Whole-Time Director from May 5, 2027, to May 4, 2032.
Vachani has led Dixon since its inception and has played a major role in building the company into India’s leading EMS manufacturer.
Atul B. Lall Re-appointed
The Board also approved the re-appointment of Atul B. Lall as Managing Director for another five-year term.
Lall has been instrumental in expanding Dixon’s manufacturing footprint and establishing partnerships with leading global electronics brands.
ESOP Grant Approved
The Nomination and Remuneration Committee approved the grant of 4,000 stock options under the Dixon ESOP 2023.
The options will vest over a three-year period and are exercisable within one year after the final vesting date. The exercise price will be linked to the prevailing market price, in accordance with the company’s ESOP policy.
Lighting Business Restructuring
Dixon noted that financial comparisons with previous periods are not entirely like-for-like because its lighting business was transferred to Lightanium Technologies Private Limited, a joint venture, effective August 1, 2025.
As a result, revenue and profitability comparisons should be viewed in light of this restructuring.
Final Dividend
The Board has recommended a final dividend of ₹10 per equity share (face value ₹2 each) for FY26. The dividend is subject to shareholder approval at the upcoming Annual General Meeting.
Outlook
India’s electronics manufacturing industry continues to benefit from rising domestic demand, increasing exports, and supportive government policies such as the PLI scheme.
With strong relationships with global electronics brands, expanding manufacturing capacity, and a diversified product portfolio, Dixon Technologies appears well positioned to capitalize on India’s growing role as a global electronics manufacturing hub.
The company’s record Q1 FY27 performance reinforces its leadership in the EMS sector and highlights its ability to deliver both strong revenue growth and expanding profitability.