Dixon Technologies (India) Limited — Q4FY26 Earnings Call Summary

DIXON · Q4FY26 · Filed 15 May 2026

Key Takeaways

• PLI income INR360 Cr booked FY26; receivables INR1,380 Cr; margin pressure from PLI phase-out partly offset by backward integration
• Margin profile expected slightly under pressure in FY27, with margin expansion in FY28-29 from component integration
• Working capital cycle negative 8 days; ROCE 44.8%, ROE 28.1%; capex ~INR1,000 Cr in FY27
• Q4FY26 revenue INR10,520 Cr; FY26 revenue INR48,893 Cr +26% y-y; EBITDA INR1,887 Cr +23% y-y; PAT INR845 Cr +20% y-y
• Display JV trials start Q3FY27; mass production Q4FY27; target revenue INR5,500-6,000 Cr at double-digit margin
• Mobile volumes flat FY27 without Vivo; 12-15% price growth expected; Vivo volumes pending govt approval
• Telecom segment targeting INR7,500-8,000 Cr revenue in FY27; IT hardware revenue expected >INR4,000 Cr
• Lighting revenues expected to double to ~INR1,700 Cr in FY27
• Camera module capacity to expand from 70m to ~190m units in 15-18 months
• Industrial EMS business being developed with M&A focus; potential INR3,000-4,000 Cr size with higher margins

📄 Source: View original transcript (PDF)

Summary generated by AI from the official transcript filed on BSE/NSE. Not investment advice.