Dixon Technologies (India) Limited

DIXON.BO

Consumer Electronics · Technology

Price

₹14540.05

-225.75 (-1.53%)

Market Cap

₹884.64B

Exchange

Bombay Stock Exchange

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 25, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Exceptional

Cash Flow

Weak

Stability

Exceptional

Valuation

Weak

Dividends

Weak

Track this stock — start free trial

Share count falling — buybacks

−10.2% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 59.5M (2022) → 53.4M (2026)

Winston Score History

The full picture

Headquartered in Noida, India, Dixon Technologies (India) Limited has been a key provider of electronic manufacturing services (EMS) since its incorporation in 1993. The company's diverse product portfolio spans numerous sectors. For instance, they produce household electronics such as LED televisions and AC circuit boards, alongside white goods like washing machines. Their illumination solutions include a variety of LED bulbs, linear fixtures, and recessed lights. Dixon also specializes in mobile communication devices, offering smartphones and mobile PCB, as well as medical electronics and set-top boxes. Additionally, they manufacture security technology, including CCTV cameras and digital video recorders. Beyond production, the firm extends its services to IT hardware solutions and crucial reverse logistics, encompassing repair and refurbishment operations.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+21.1% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+133.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

₹0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (15%)

R&D spend declining — could signal cost-cutting or efficiency

Cash Runway

~0 months

₹0 cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Dixon Technologies (India) Limited has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

4.0%

Thin — 4.0% gross margin

Profit after running costs

Operating Margin

2.3%

Thin — 2.3% operating margin

Return on the money invested

ROCE

23.7%

Exceptional — 23.7% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth

Sales YoY

+14.3%

Fast-growing sales (+14.3% YoY)

Profit growth

EPS YoY

+37.9%

Earnings growing fast (+37.9% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash

Cash Conversion

57%

Weak — only 57% of profit becomes cash

Spare cash per sale

FCF Margin

-0.1%

Burning cash (-0.1%)

Free cash flow is negative. They are burning cash, not generating it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns

Debt / Equity

0.11

Conservative — low debt load (0.11)

Covers its interest

Interest Cover

11.16x

Comfortably covers interest (11.2x)

Interest coverage above 8. Profits cover interest many times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit

P/E Ratio (TTM)

46.0x

Expensive — P/E 46.0

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

-4.5

SLOWING

Earnings expected to fall — forward P/E higher than today

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend

Dividend Yield

0.06%

Small dividend — 0.06% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

N/A

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial