Shares of Dixon Technologies climbed 11% on Monday, touching an intraday high of Rs 12,199 on the NSE, after the electronics maker posted a sharp rise in second-quarter revenue. Profit, however, moved in the opposite direction.
Revenue for the July-September quarter of FY27 rose 46.7% from a year earlier to Rs 21,794 crore. In the same quarter last year, the company had reported Rs 14,855 crore.
Net profit fell 48.7% to Rs 343.7 crore, from Rs 670 crore in Q2FY26, according to the company’s exchange filing.
Margins under pressure
Operating profit grew 6% to Rs 597 crore, against Rs 561 crore a year ago. EBITDA, however, dropped 37% to Rs 666 crore. The EBITDA margin narrowed to 3.1% from 7.1% in the corresponding quarter of the previous year.
Segment performance
The mobile and other electronics manufacturing services division was the main driver. Its revenue rose to Rs 20,093 crore from Rs 13,361 crore a year earlier. Operating profit in the segment stood at Rs 509 crore, compared with Rs 472 crore.
In consumer electronics and appliances, which covers LED TVs and refrigerators, revenue rose to Rs 1,115 crore from Rs 956 crore. Operating profit was Rs 40 crore, marginally above Rs 39 crore in the year-ago quarter.
The home appliances business reported revenue of Rs 586 crore, up from Rs 429 crore. Its operating profit slipped slightly to Rs 48 crore from Rs 50 crore.
First-half numbers
For the first half of FY27, which ended in September 2026, revenue from operations, including other income, grew 35% to Rs 37,938 crore. EBITDA for the six months rose 8% to Rs 1,657 crore.
Profit after tax for the half-year increased 13% to Rs 1,007 crore, compared with Rs 895 crore in the same period a year ago.
Board and corporate updates
The board approved the appointment of Prithvi Vachani as an Additional Director in the role of Executive Director for five consecutive years, effective October 30, 2026. The move follows a recommendation from the Nomination and Remuneration Committee. His appointment and pay package still need shareholder approval.
The company also said that Adivistar Electronics India Private Limited was incorporated as its subsidiary during the quarter ended September 30, 2026.
Stock performance
Despite Monday’s rally, the stock has been under pressure over longer periods. It is down 4.37% in the past month and about 21.61% over the past year. So far in 2026, it has gained 0.45%.
Over a longer horizon, the picture is much stronger. The shares have returned 127.86% over three years and 121.08% over five years.
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