Strong volumes, uptick in margins to drive gains for Dixon Technologies

Mobile and EMS segments fuel Dixon's growth; brokerages expect further gains from backward integration and component manufacturing expansion

The recent results for the second quarter of financial year 2026 (Q2FY26) of the country’s largest electronic manufacturing services (EMS) player, Dixon Technologies (India) was in line with Street estimates. While growth for the EMS major was driven by the mobile and EMS segment, the fall in sales of the consumer electronics and home appliances segment partly offset the overall gains.

 

While some brokerages have cut their earnings estimates due to higher finance costs and minority interest, others are positive on the outlook/margins given outsourcing demand and backward integration. The Dixon stock has delivered about 7 per cent returns over