Dixon Technologies reports strong Q2 FY26 revenue, profit growth

Dixon Technologies reported a consolidated adjusted revenue of INR 14,858 crores for the quarter ended September 30, 2025, marking a 29% growth from INR 11,528 crores in the prior-year period. Consolidated adjusted EBITDA grew by 34% to INR 564 crores from INR 420 crores, while consolidated adjusted PAT increased by 27% to INR 323 crores compared to INR 236 crores in the same period last year. The company noted that revenue growth was impacted by a mid-August GST rate reduction, leading to deferred purchases across trade and consumer channels.

The mobile business revenue was INR 13,361 crores, up 41% year-on-year, with an operating profit of INR 472 crores, a 53% increase. The company expects mobile volumes to reach 55-60 million units next fiscal year, partly driven by a new ODM partnership and a joint venture with Longcheer by Q1 next fiscal, aiming for 8-10 million units from the JV. Additionally, the telecom segment saw robust growth of 148% year-on-year, with revenues reaching INR 1,635 crores, and is poised to become the second-largest growth driver after mobile.

Dixon is strategically expanding its backward integration into components, with a focus on display and camera modules, which are expected to be margin accretive. Investments are planned to expand smartphone camera module capacity from 40 million units to 190-200 million units annually, targeting revenues of INR 6,000-7,000 crores within two to three years. The IT hardware business is also projected to grow significantly, reaching INR 4,000-5,000 crores within the next two years.