Dixon Technologies reports 95% growth in Q1 revenue; board recommends final dividend of ₹8
Electronics manufacturing services (EMS) major Dixon Technologies (India) Ltd kickstarted the new financial year with a stellar Q1 performance. The company on Tuesday reported that consolidated revenue from operations grew 95% year-on-year to ₹12,838 crore in the quarter ended June 30, 2025, up from ₹6,580 crore in the corresponding period last year.
The Noida-based company also reported a 100% growth in net profit to ₹280 crore in the quarter as against ₹140 crore in Q1 FY25. Earnings before interest, tax, depreciation and amortization (EBITDA) grew 89% to ₹484 crore, while margins remained stable at 3.8%.
Dixon’s profit before tax (PBT) grew 103% to ₹366 crore, while earnings per share (EPS) stood at ₹46.30 (diluted), up from ₹23.23 a year ago.
Dixon Technologies Dividend proposal
In line with its dividend policy, the board of directors has recommended a final dividend of ₹8 per equity share of ₹2 face value each for the financial year 2024-25. This dividend is subject to shareholders’ approval at the forthcoming 32nd Annual General Meeting.
Dixon Technologies Mobile division led growth
A large portion of Dixon’s revenue came from its mobile and EMS (electronic manufacturing services) division, which recorded sales of ₹11,663 crore during the quarter – up sharply from ₹5,192 crore in the first quarter of last year. This division alone contributed over 90% of the company’s quarterly revenue, reflecting continued demand for mobile assembly, telecom equipment and wearable devices.
Other business segments such as consumer electronics (including LED TVs and refrigerators) and home appliances (such as washing machines) performed steadily. The consumer electronics segment posted revenue of ₹672 crore, while home appliances contributed ₹313 crore.
On the other hand, revenue from lighting products declined to ₹188 crore from ₹227 crore in the same period a year ago, impacted by pricing pressure and lower sales.
Dixon Technologies Operating efficiency and cash flow
Dixon reported positive free cash flow of ₹57 crore for the quarter, a significant turnaround from the negative ₹124 crore of Q1 FY25. This improvement was due to better inventory and receivables management. Net working capital days stood at -4, indicating that the company was operating with negative working capital – a positive sign of efficient operations.
As of June 30, 2025, Dixon’s total assets were reported at ₹4,538 crore, up from ₹4,293 crore at the end of March. Net fixed assets stood at ₹2,593 crore, while total shareholder funds grew to ₹3,402 crore.
Dixon Technologies Corporate Update
During the quarter, Dixon established a new joint venture, Lightanium Technologies Private Limited, aimed at strengthening its position in advanced electronics and manufacturing solutions. Unlike the previous quarter, when the Company earned a gain from the transaction of its equity stake with Aditya Infotech Limited, there was no exceptional gain in the quarter.
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