DIXONConsumer Durables

Dixon Technologies (India) Limited

Consumer Electronics · ISIN INE935N01020 · BSE 540699 · NSE EQ · FV ₹2
Last price
₹12,290
+0.16%today
What this company does

Dixon Technologies (India) Limited operates in Consumer Electronics, part of the Consumer Durables sector. It booked ₹21,794 cr of revenue in its latest quarter (Q2 FY27) and kept 1.6% of sales as profit. It is the largest of 9 Consumer Electronics companies we track, by market value.

59out of 100
Equitytale Health Score
Mixed

Healthier than 59% of companies in Consumer Durables, on all six measures of filed financials. Each measure is ranked against the 29–45 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
50

At close. Not part of the score.

Profitability & returns62

How much profit it earns on the money it employs

Balance sheet45

How much it owes, and whether earnings cover the interest

Cash quality60

Whether reported profit actually arrives as cash

Growth & consistency95

Whether sales and profit have grown, and how steadily

Valuation19

What today's price implies, against our models or its peers

Governance & risk86

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Sales up 47% vs last year
✓ No promoter shares pledged
✓ Strong 23% return on equity
✓ Virtually debt-free
Watch-outs
! Thin 1.6% net margin
! Profit down 49% vs last year
! Operating cash flow is negative

What if I invest in DIXON?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹12,290▲ +0.16%
latest close · 2026-11-04
1-year return
+124.9%
52-wk low ₹3,18152-wk high ₹15,000
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio45.6High
LowAverageHigh
P/B ratio12.78High
Below bookModerateHigh
EV / EBITDA28.3High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity23.4%Strong
WeakFairStrong ▸15%
Return on capital28.1%Strong
WeakFairStrong
Net margin1.6%Thin
ThinDecentStrong
EBITDA margin3.1%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.10Comfortable
LowModerateHigh ▸1
Interest cover21.4×Strong
RiskyOkayStrong ▸5×
Current ratio1.06Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹75,153 cr
Book value
₹961
EPS
₹67.44
latest quarter
Net debt
₹280 cr
owes more than its cash
Enterprise value
₹75,433 cr
EBITDA
₹2,662 cr
annualised
EBIT
₹2,222 cr
annualised
Operating margin
2.5%
Return on assets
4.7%
Earnings yield
2.19%
P/S
0.86
Sales / share
₹14,255.9
Tax rate
22.9%
Face value
₹2
Shares
6.1 cr
Working capital
₹1,178 cr
Current assets
₹22,461 cr
Current liabilities
₹21,283 cr
Delivery %
37.6%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the exchange filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹827–₹1,847, midpoint ₹1,337

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹21,794 cr
Other Income₹69 cr
Total Income₹21,862 cr
Cost of Materials₹20,679 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹10 cr
Employee Benefit Expense₹216 cr
Finance Costs₹26 cr
Depreciation & Amortisation₹110 cr
Other Expenses₹292 cr
Total Expenses₹21,333 cr
Profit before Tax₹530 cr
Tax Expense₹121 cr
Share of JV / Associates₹3 cr
Net Profit₹411 cr
Net margin on total income1.9%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹20,689 cr94.6%
Employee benefit expense₹216 cr1.0%
Finance costs₹26 cr0.1%
Depreciation & amortisation₹110 cr0.5%
Other expenses₹292 cr1.3%
Tax expense₹121 cr0.6%
Profit for the period₹411 cr1.9%
Total income ₹21,862 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue10,511 cr15,548 cr21,794 cr
Total income10,595 cr16,076 cr21,862 cr
Expenses10,231 cr15,216 cr21,333 cr
Profit before tax364 cr860 cr530 cr
Tax72 cr151 cr121 cr
Net profit (owners' share)256 cr663 cr344 cr
Net margin (owners' share, on revenue)2.4%4.3%1.6%
EPS (₹)49.22118.0067.44
YoY (latest quarter): total income +42.4% · net profit -48.7%
Balance sheet & cash flow · as of Sep 2026
Low debt
Total assets
₹29,178 cr
Shareholder equity
₹5,879 cr
parent shareholders
Total debt
₹669 cr
Cash
₹389 cr
Cash flow · H1 FY27
Operating
₹-280 cr
Investing
₹-417 cr
Financing
₹319 cr
Peer comparison
Consumer Electronics · by market value
CompanyPriceMarket capP/E
Dixon Technologies (India) Limitedthis company₹12,270₹75,031 cr45.5
Havells India Limited₹1,051₹65,919 cr47.2
PG Electroplast Limited₹541₹15,514 cr287.8
IKIO Technologies Limited₹167₹1,288 cr29.8
Onida Electronics Limited₹26₹975 cr—
Universus Photo Imagings Limited₹488₹534 cr2.9
Veto Switchgears And Cables Limited₹121₹232 cr9.8
BPL Limited₹44₹213 cr—
Khaitan (India) Limited₹145₹69 cr7.3
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.08%
trailing 12 months
Dividend / share (TTM)
₹10
Last dividend
₹10
ex 21 Sep 2026
ActionDetailEx-date
Dividend₹10 / share21 Sep 2026
Dividend₹8 / share16 Sep 2025
Dividend₹5 / share17 Sep 2024
Dividend₹3 / share22 Sep 2023
Dividend₹2 / share11 Aug 2022
Dividend₹1 / share20 Sep 2021
Who owns it · 2026-09-30
No pledge
Promoter
28.5%
FII / Foreign
19.0%
DII / Domestic
28.7%
Retail / others
23.8%
Promoter stake down 5.1% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtKSV FAMILY TRUST UNDER THE TRUSTEES MR. SUNIL VACHANI AND MRS. GAYATRI VACHANI · Promoter Group23.62 L · ₹1290.0 cr21 Nov 23
BoughtPSV FAMILY TRUST UNDER THE TRUSTEES MR. SUNIL VACHANI AND MRS. GAYATRI VACHANI · Promoter Group94.50 L · ₹5160.0 cr21 Nov 23
SoldGEETA VASWANI · Promoter Group506 · ₹21.3 L13 Aug 21
Bulk / block deals
short— · NSE12 Nov 26
short— · NSE529 Oct 26
short— · NSE528 Oct 26
Stake changes
SoldMr. Sunil Vachani · promoter→ 2.13% · 16.70 L23 Jun 25
SoldLife Insurance Corporation of India→ 3.00% · 12.04 L15 Dec 23
BoughtPSV Family Trust along with pac · promoter→ 15.80% · 94.50 L21 Nov 23
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 28 Sep 2026
See the official result
1
Adoption of Financial Statements & Reports
Backed by 100% of shareholders other than promotersneeded 50%
3.28 cr votes for, 55,213 against · 0% of mutual funds and other big investors said no
2
Declaration of Dividend
Backed by 100% of shareholders other than promotersneeded 50%
3.28 cr votes for, 27 against · 0% of mutual funds and other big investors said no
3
Appointment of Mr. Atul B. Lall (DIN: 00781436) as a Director liable to retire by rotation
Backed by 98% of shareholders other than promotersneeded 50%
3.21 cr votes for, 7.49 L against · 3% of mutual funds and other big investors said no
4
Ratification of Remuneration to be paid to M/s. Satija & Associates, Cost Accountants, Cost Auditors of the Company
Backed by 100% of shareholders other than promotersneeded 50%
3.28 cr votes for, 32 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 13 named members
owning 28.5% between them · as of 2026-09-30
PSV FAMILY TRUST UNDER THE TRUSTEES MR. SUNIL VACHANI AND MRS. GAYATRI VACHANI15.45%
GAYATRI VACHANI6.36%
KSV FAMILY TRUST UNDER THE TRUSTEES MR. SUNIL VACHANI AND MRS. GAYATRI VACHANI3.86%
SUNIL VACHANI2.03%
SURESH VASWANI0.77%
RAVI VACHANI0.03%
VACHANI KAMAL VACHANI SUNDER0.01%
KARISHMA VACHANIno shares
Business done with them
FY2024 · 1 of the group
The company paid ₹9 cr to companies in the promoter group last year — about 0.1% of its ₹17,691 cr revenue.
Sunil Vachani
Other payments to them · Remuneration (including commission)
also owns 2.03% of the company
₹9 cr
company paid

The company also transacted with 13 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.