DIXONConsumer Durables

Dixon Technologies (India) Limited

Consumer Electronics · ISIN INE935N01020 · BSE 540699 · NSE EQ · FV ₹2
Last price
₹13,290
+0.83%today
What this company does

Dixon Technologies (India) Limited operates in Consumer Electronics, part of the Consumer Durables sector. It booked ₹15,548 cr of revenue in its latest quarter (Q1 FY27) and kept 4.3% of sales as profit. It is the largest of 9 Consumer Electronics companies we track, by market value.

70out of 100
Equitytale Health Score
Solid

Healthier than 70% of companies in Consumer Durables, on all six measures of filed financials. Each measure is ranked against the 25–41 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)
33

At close. Not part of the score.

Profitability & returns81

How much profit it earns on the money it employs

Balance sheet55

How much it owes, and whether earnings cover the interest

Cash quality59

Whether reported profit actually arrives as cash

Growth & consistency95

Whether sales and profit have grown, and how steadily

Valuation46

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 21% vs last year
Profit up 195% vs last year
No promoter shares pledged
Strong 57% return on equity
Virtually debt-free
Turns profit into real cash
Watch-outs
! Thin 4.3% net margin

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 We do not publish price targets or predict returns.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
₹13,290 +0.83%
latest close · 2026-09-17
1-year return
+228.7%
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 ratio28.2Average
LowAverageHigh
P/B ratio17.36High
Below bookModerateHigh
EV / EBITDA20.4High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity56.7%Strong
WeakFairStrong ▸15%
Return on capital54.7%Strong
WeakFairStrong
Net margin4.3%Thin
ThinDecentStrong
EBITDA margin6.4%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.09Comfortable
LowModerateHigh ▸1
Interest cover36.7×Strong
RiskyOkayStrong ▸5×
Current ratio1.06Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹81,202 cr
Book value
₹765
EPS
₹118.00
latest quarter
Net debt
₹-300 cr
more cash than debt
Enterprise value
₹80,902 cr
EBITDA
₹3,966 cr
annualised
EBIT
₹3,538 cr
annualised
Operating margin
5.7%
Return on assets
13.8%
Earnings yield
3.55%
P/S
1.31
Sales / share
₹10,178.5
Tax rate
17.6%
Face value
₹2
Shares
6.1 cr
Working capital
₹817 cr
Current assets
₹13,515 cr
Current liabilities
₹12,698 cr
Delivery %
40.4%
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 2026-09-17.

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 ₹992₹1,944, midpoint ₹1,468

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 · Q1 FY27 (consolidated)
Revenue from Operations₹15,548 cr
Other Income₹528 cr
Total Income₹16,076 cr
Cost of Materials₹15,064 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-423 cr
Employee Benefit Expense₹181 cr
Finance Costs₹24 cr
Depreciation & Amortisation₹107 cr
Other Expenses₹263 cr
Total Expenses₹15,216 cr
Profit before Tax₹860 cr
Tax Expense₹151 cr
Share of JV / Associates₹9 cr
Net Profit₹718 cr
Net margin on total income4.5%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹14,641 cr91.0%
Employee benefit expense₹181 cr1.1%
Finance costs₹24 cr0.1%
Depreciation & amortisation₹107 cr0.7%
Other expenses₹263 cr1.6%
Tax expense₹151 cr0.9%
Profit for the period₹718 cr4.5%
Total income ₹16,076 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue10,672 cr10,511 cr15,548 cr
Total income10,803 cr10,595 cr16,076 cr
Expenses10,399 cr10,231 cr15,216 cr
Profit before tax404 cr364 cr860 cr
Tax91 cr72 cr151 cr
Net profit (owners' share)287 cr256 cr663 cr
Net margin (owners' share, on revenue)2.7%2.4%4.3%
EPS (₹)53.0649.22118.00
YoY (latest quarter): total income +25.2% · net profit +194.9%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹19,162 cr
Shareholder equity
₹4,677 cr
parent shareholders
Total debt
₹468 cr
Cash
₹767 cr
Cash flow · H1 FY26
Operating
₹881 cr
Investing
₹-1,011 cr
Financing
₹397 cr
Peer comparison
Consumer Electronics · by market value
CompanyPriceMarket capP/E
Dixon Technologies (India) Limitedthis company₹13,290₹81,202 cr28.2
Havells India Limited₹1,092₹68,534 cr59.0
PG Electroplast Limited₹529₹15,118 cr49.6
IKIO Technologies Limited₹206₹1,591 cr36.8
Onida Electronics Limited₹32₹1,193 cr
Universus Photo Imagings Limited₹614₹672 cr3.7
Veto Switchgears And Cables Limited₹133₹253 cr10.7
BPL Limited₹46₹225 cr
Khaitan (India) Limited₹155₹74 cr7.6
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
trailing 12 months
Dividend / share (TTM)
Last dividend
₹8
ex 16 Sep 2025
ActionDetailEx-date
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
Stock splitStock Split From Rs.10/- to Rs.2/-18 Mar 2021
Who owns it · 2026-06-30
No pledge
Promoter
28.6%
FII / Foreign
17.9%
DII / Domestic
28.4%
Retail / others
25.2%
Promoter stake down 5.2% 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 · NSE1989 Sep 26
short · NSE2507 Sep 26
short · NSE984 Sep 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.

Postal ballot · 22 Dec 2025
See the official result
1
To approve an increase in the managerial remuneration payable to Mr. Sunil Vachani, Executive Chairman in excess of the limits under Companies Act, 2013
Promoters had a personal stake in this
Backed by 97% of shareholders other than promotersneeded 75%
3.26 cr votes for, 10.24 L against · 4% of mutual funds and other big investors said no
2
To approve an increase in the managerial remuneration payable to Mr. Atul B. Lall, Vice Chairman & Managing Director in excess of the limits under Companies Act, 2013.
Backed by 91% of shareholders other than promotersneeded 75%
3.06 cr votes for, 30.40 L against · 12% of mutual funds and other big investors said no
3
To approve the appointment of Mr. Saurabh Gupta (DIN: 09685338) as Director-Finance of the Company for a term of 5 (five) consecutive years along with his remuneration
Backed by 86% of shareholders other than promotersneeded 75%
2.91 cr votes for, 46.02 L against · 18% of mutual funds and other big investors said no
4
To approve re-appointment of Dr. Rakesh Mohan (DIN: 02790744) as a Non-Executive and Independent Director for a second term of 5 (five) consecutive years and continuation of his office beyond 75 years of age
Backed by 99% of shareholders other than promotersneeded 75%
3.34 cr votes for, 3.01 L against · 1% 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 28.6% between them · as of 2026-06-30
PSV FAMILY TRUST UNDER THE TRUSTEES MR. SUNIL VACHANI AND MRS. GAYATRI VACHANI15.47%
GAYATRI VACHANI6.36%
KSV FAMILY TRUST UNDER THE TRUSTEES MR. SUNIL VACHANI AND MRS. GAYATRI VACHANI3.87%
SUNIL VACHANI2.03%
SURESH VASWANI0.78%
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.