Dixon Technologies (India) Ltd.
NSE: DIXONDixon Technologies (India) Ltd.: A 30-second snapshot
Dixon Technologies trades at ₹14,049, up 24.34% over the trailing 3 months but still down 16.26% over 12 months and 23.94% below its 52-week high, currently above both its 50-day (₹12,652) and 200-day (₹12,318) moving averages. It carries a trailing PE of 52.1x (forward 51.7x) against ROE of 37.13% and a profit margin of 2.94% typical of a contract electronics manufacturer, with a mean analyst rating of 2.24 across 29 analysts (1-5 scale, lower = more constructive). Recent news flow (8 items tracked, 7 positive) has centered on the Dixon-Vivo Mobile joint venture clearance and several broker rating and target actions in early-to-mid July 2026.
P/E
52.1
Forward P/E
51.7
ROE
+37.1%
Debt / Equity
18.46
Profit Margin
+2.9%
Div. Yield
+0.1%
5Y ROE > 15%
4/5
5Y FCF > 0
3/5
Quality
61/100
News
8 headlines · 7 positive · 0 negative
CAM acts as legal advisor for Dixon Technologies India Ltd. in relation to its proposed joint venture with Vivo Mobile - SCC Online
SCC Online
Dixon Tech stock jumps 7% after HSBC upgrade, new mobile manufacturing scheme lifts outlook - Moneycontrol.com
Moneycontrol.com
Dixon Tech Could Be Headed For A 3x Earnings Jump By FY29. What's Driving Macquarie's Optimism? - NDTV Profit
NDTV Profit
Government clears Dixon (India)-Vivo (China) joint venture for manufacturing smartphones - The Indian Express
The Indian Express
Dixon Tech share price target raised; Investec now sees 30% upside - CNBC TV18
CNBC TV18
Recent context
- ·Government cleared the Dixon-Vivo Mobile smartphone manufacturing joint venture (reported July 10, 2026), with CAM acting as legal advisor on the transaction (reported July 17, 2026).
- ·Macquarie's July 15, 2026 note cited a potential 3x earnings increase by FY29 as the basis for its outlook tied to the new mobile-manufacturing scheme.
- ·HSBC's rating action was reported alongside a same-day 7% stock move (July 16, 2026), and other brokers, including Investec, revised price targets the same week, citing the new manufacturing-scheme news as the catalyst.
Strengths
- +ROE of 37.13%, sustained above 15% in 4 of the last 5 years per the persistence engine, with a consistency score of 78.
- +Carries the lowest PE (52.1x) among its 5-stock Consumer Goods comparison set, where peer multiples range from 55.3x (Asian Paints) to 92.8x (Trent).
- +Price recovered 24.34% over the trailing 3 months and now trades above both the 50-day (₹12,652) and 200-day (₹12,318) moving averages.
- +Recent news flow skews positive (7 of 8 items tracked), anchored by government clearance of the Dixon-Vivo Mobile smartphone manufacturing joint venture and the related legal-advisory mandate.
Weaknesses
- −5-year earnings growth of -36.1% against just 2.1% revenue growth over the same period, with a 2.94% profit margin leaving little room to absorb cost or competitive pressure.
- −Quality score of 21 ranks last (6th of 6) in its sector comparison set despite the lowest PE and joint-highest ROE - the composite captures weaknesses in margin and growth consistency not visible in the headline return ratios.
- −Debt-to-equity, while low in absolute terms (approximately 0.18x), is flagged as trending upward by the persistence engine.
- −Still down 16.26% over the trailing 12 months and 23.94% below its 52-week high, even after the recent 3-month recovery.
Open questions
- ?Does the -36.1% five-year earnings growth reflect a genuine multi-year decline or a high base-year/one-off effect, given ROE has stayed above 15% in 4 of the last 5 years?
- ?How does the operating-margin structure of a contract electronics manufacturer like Dixon compare with the branded consumer-retail peers (Asian Paints, Titan, Trent, DMart) used in this sector ranking, and does that context change the read on a last-place quality score?
- ?What would need to change in profit margin (currently 2.94%) for the Vivo joint venture and other new manufacturing mandates to move earnings, given revenue growth of just 2.1% over five years?
- ?Is the rising trend in debt-to-equity linked to capex for new manufacturing capacity such as the Vivo JV, and how does that compare with the company's recent free-cash-flow generation (positive in 3 of the tracked years)?
Peer comparison: Consumer Goods
Ranks 6 of 6 on quality| Symbol | Name | P/E | ROE | Quality |
|---|---|---|---|---|
| DIXON | Dixon Technologies (India) Ltd.You're viewing | 52.1 | +37.1% | 21 |
| Industry avg | across 5 peers | 79.2 | +32.1% | 44 |
| ETERNAL | Eternal Ltd. | — | — | 50 |
| ASIANPAINT | Asian Paints Ltd. | 55.3 | — | 49 |
| TRENT | Trent Ltd. | 92.8 | +27.1% | 49 |
| DMART | Avenue Supermarts Ltd. | 83.6 | — | 38 |
| TITAN | Titan Company Ltd. | 85.2 | +37.1% | 34 |
Technical state
Current price
₹14,049.00
SMA 50
₹12,652.22
SMA 200
₹12,318.23
RSI (14)
60.0 (neutral)
From 52w high
-23.9%
1Y return
-16.3%
3M return
+24.3%
50-DMA
Above
200-DMA
Above
Algorithmic support levels
Algorithmic resistance levels
Risk flags
- medium5-year earnings growth of -36.1% sits against 5-year revenue growth of only 2.1% and a profit margin of 2.94%, leaving thin buffer for cost or competitive pressure; trailing PE of 52.1x (forward 51.7x) prices in an earnings recovery not yet visible in the margin trend.
- mediumQuality score of 21 ranks last (6th of 6) in its Consumer Goods comparison set, despite carrying the lowest PE (52.1x vs a peer range of 55.3x-92.8x) and a joint-highest ROE (37.13%, matching Titan) - the quality composite is weighing dimensions such as margin and growth consistency where the stock screens weaker than its headline valuation and return ratios suggest.
- lowDebt-to-equity is low in absolute terms (approximately 0.18x, after correcting the raw Yahoo field which is percent-scaled) but is flagged as trending upward by the persistence engine ('rising') - level is not currently elevated but direction is worth tracking.
- lowThe sector peer set (Asian Paints, Titan, Trent, DMart, Eternal) mixes branded consumer-retail business models with Dixon's contract-electronics-manufacturing model; ROE and 1-year price change are null for most peers, and Titan's reported ROE (37.13%) is numerically identical to Dixon's - both comparability and data-source integrity merit caution before leaning on the sector ranking.
Cross-section contradictions
- 5-year earnings growth of -36.1% sits alongside ROE above 15% in 4 of the last 5 years and a consistency score of 78 - the two metrics move in different directions, suggesting the negative earnings CAGR reflects a high base-year or one-off item rather than a structural decline in returns.
For informational purposes only. Not investment advice. VivaTrades is not a SEBI-registered Investment Adviser or Research Analyst. Market data sourced from public feeds; consult a registered adviser before any investment decision.
Fundamentals & technicals: refreshed 11 Aug 2026 · refreshed daily at 01:00 IST
AI synthesis (narrative, snapshot, strengths/weaknesses, peer ranking): generated 1 Aug 2026 · rotates through NIFTY 500 every ~5 days