Dixon Technologies (India) Limited — Q4FY26 earnings call summary

Filed 15 May 2026 · Official transcript

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