Dixon Technologies (India) Limited (DIXON) Fair Value & Analysis

Technology · IN · Market cap ₹819B

A solid business, but screening 72% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (₹9,433). The favourable scenario is already priced in.
• The model range is unusually wide (₹2,547 to ₹9,433). The outcome hinges heavily on assumptions, so read the point estimate with caution.
• Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range ₹2,640 – ₹18,932 · fair‑value band ₹2,547 – ₹9,433 · the ₹14,200 price screens above the ₹4,022 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Dixon Technologies (India) Limited (DIXON) currently trades at ₹14,200, while our model-based Fair Value estimate is ₹4,022, implying the stock looks roughly 71.7% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Dixon Technologies (India) Limited generated revenue of ₹489B at a net margin of 2.9%. Revenue grew 2.1% year over year. It earns a return on equity of 37.1%. Net debt stands at ₹532M. Fundamentals as of Jul 12, 2026

Our scenario range runs from ₹2,547 (bear case) to ₹9,433 (bull case); at ₹14,200, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. Analysts expect earnings well below the last reported figure (earnings in transition, for example expiring patents or contracts); a fair value that looks fair on trailing earnings may then be too optimistic. The share trades about 23% below its 52-week high and 48% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -16% fair-value upside, at -72%, DIXON screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Growth Earnings (₹10,993) versus Dividend Discount (₹333.37). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Dixon Technologies (India) Limited, together with its subsidiaries, manufactures and sells electronic goods in India and internationally.

Full company description

Dixon Technologies (India) Limited, together with its subsidiaries, manufactures and sells electronic goods in India and internationally. The company offers consumer electronics, such as LED and smart TVs, interactive flat panels, monitors, IFPD commercial displays, digital signages, PCB and LCM panel assemblies, LED bars, and injection moulding; and lightning solutions, including LED and special lamps, battens, bulbs, synthetic down lighters, 2X2s, panels, strip and rope lighting, CoB luminaries, wall washers, fancy and desk lights, magnetic track lights, and smart lights, as well as professional lighting products comprising street, flood, and industry lights. It also provides home appliances comprising semi-automatic washing machine and fully automatic top load; refrigerators; 4G and 5G smart, foldable, and feature mobile phones; wireless wearables and hearables; computing devices, such as laptops, desktops, and notebooks; and telecommunication and networking products, which include 5G fixed wireless access devices, optical network terminals, and IPTV set-top boxes. In addition, the company is involved in the provision of electronic manufacturing services; trading; reverse logistics, such as repair and refurbishment of LED TV panels; repair of mobile phones; research and development; design and prototyping; manufacturing and assembly; and quality and performance. It exports its products. Dixon Technologies (India) Limited was incorporated in 1993 and is headquartered in Noida, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Dixon Technologies (India) Limited reported revenue of ₹489B in FY2026 versus ₹107B in FY2022, a compound +46.2%/yr. Reported net income was ₹14.4B in FY2026, compounding +65.8%/yr from FY2022.

DIXON screens 72% overvalued. Compare with Apple Inc →

Peer Group

Consumer Electronics · 129 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Consumer Electronics median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.