Dixon Technologies (India) Q2 FY27 Results: Consolidated Net Profit ₹411 Crore on Total Income of ₹21,862 Crore
Earnings
Electronics goods
Blacklitt Research4 min read
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Dixon Technologies (India) (NSE: DIXON) reported consolidated total income of ₹21,862.37 crore and net profit of ₹410.87 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹1,679.24 crore and standalone net profit was ₹123.44 crore.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹21,862.37 crore, up 42.4% YoY and 36.0% QoQ
Net profit and EPS: ₹410.87 crore, down 44.9% YoY; basic EPS ₹67.44 against ₹123.60 a year earlier
Other income: ₹68.73 crore against ₹495.74 crore a year earlier, down 86.1%
PLI incentive receivable: ₹1,110.06 crore accrued and outstanding at 30 Sep 2026, pending determination by the Project Management Agency
Standalone
The company on its own, without its subsidiaries
Total income: ₹1,679.24 crore, down 12.0% YoY and up 3.7% QoQ
Net profit and EPS: ₹123.44 crore, down 74.2% YoY; basic EPS ₹20.26 against ₹79.32
Revenue from operations: ₹1,593.15 crore, up 15.0% YoY and 47.6% QoQ
Other income: ₹86.09 crore against ₹521.84 crore a year earlier, down 83.5%
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
21,862.37
15,350.78
+42.4%
16,075.95
+36.0%
Revenue from operations
21,793.64
14,855.04
+46.7%
15,547.66
+40.2%
Other income
68.73
495.74
-86.1%
528.29
-87.0%
410.87
745.70
-44.9%
717.83
-42.8%
Profit before tax
532.35
923.59
-42.4%
868.98
-38.7%
Finance costs
25.95
38.35
-32.3%
24.12
+7.6%
Depreciation
110.06
96.28
+14.3%
106.95
+2.9%
Tax expense
121.48
177.89
-31.7%
151.15
-19.6%
Net profit margin
1.88%
4.86%
-2.98 pp
4.47%
-2.59 pp
EPS, basic (₹)
67.44
123.60
-45.4%
118.00
-42.8%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Revenue from operations rose 46.7% to ₹21,793.64 crore from ₹14,855.04 crore a year earlier, while net profit fell 44.9% to ₹410.87 crore from ₹745.70 crore. Other income fell from ₹495.74 crore to ₹68.73 crore over the same period.
Profit attributable to owners of the company was ₹343.66 crore, down 48.7% from ₹670.00 crore. Profit before tax was ₹532.35 crore against ₹923.59 crore, and tax expense was ₹121.48 crore, equal to 22.8% of profit before tax, against ₹177.89 crore a year earlier.
The presentation says the reported figures include a fair value gain on Dixon's stake in Aditya Infotech Limited of ₹57 crore in Q2 FY27, against ₹465 crore in Q2 FY26, and a ₹28 crore gain on the lighting business transfer in Q2 FY26. On its adjusted basis, profit before minority interest is ₹475 crore and profit after non-controlling interest is ₹293 crore, up 19% from ₹247 crore a year earlier.
The notes say the lighting business undertaking, with the shares of Dixon Technologies Solutions Private Limited, was transferred to Lightanium Technologies Private Limited for ₹140.30 crore with effect from 1 Aug 2025. The notes say the figures for the quarter and half year are not comparable with the corresponding previous-year periods. The company also incorporated Adivistar Electronics India Private Limited as a subsidiary in the quarter, held 51% by the company.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
1,679.24
1,907.64
-12.0%
1,619.90
+3.7%
Revenue from operations
1,593.15
1,385.80
+15.0%
1,079.62
+47.6%
Other income
86.09
521.84
-83.5%
540.28
-84.1%
123.44
478.53
-74.2%
498.10
-75.2%
Profit before tax
147.92
566.49
-73.9%
584.27
-74.7%
Finance costs
5.60
13.39
-58.2%
8.02
-30.2%
Depreciation
17.01
17.66
-3.7%
16.66
+2.1%
Tax expense
24.48
87.96
-72.2%
86.17
-71.6%
Net profit margin
7.35%
25.08%
-17.73 pp
30.75%
-23.40 pp
EPS, basic (₹)
20.26
79.32
-74.5%
81.88
-75.3%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Revenue from operations rose 15.0% to ₹1,593.15 crore, but other income fell 83.5%, from ₹521.84 crore to ₹86.09 crore. Total income fell 12.0% to ₹1,679.24 crore, and net profit fell 74.2% to ₹123.44 crore from ₹478.53 crore.
Profit before tax was ₹147.92 crore against ₹566.49 crore a year earlier. Finance costs were ₹5.60 crore against ₹13.39 crore, and depreciation was ₹17.01 crore against ₹17.66 crore. Net profit in the quarter before was ₹498.10 crore.
Tax expense was ₹24.48 crore against ₹87.96 crore, and basic EPS was ₹20.26 against ₹79.32. The standalone notes say the figures for the quarter and half year are not comparable with the corresponding previous-year periods, and that the lighting business transfer took effect on 1 Aug 2025.
Inference
The notes record incentive income under the Production Linked Incentive scheme of ₹1,110.06 crore as accrued and receivable at 30 Sep 2026, pending formal determination and disbursement by the Project Management Agency, with a ₹576.95 crore liability payable to the customer for the same incentive. The auditors draw attention to this note and say their conclusion is not modified in respect of it. The filing does not give a date for that determination.
The board appointed Prithvi Vachani as an Additional Director in the capacity of Executive Director for five consecutive years from 30 Oct 2026, along with his remuneration, subject to shareholder approval. The filing says he is the son of Sunil Vachani, Executive Chairman.
Consolidated note 7 says the board recommended a final dividend of ₹10.00 a share for FY 2025-26, approved at the 33rd annual general meeting on 28 Sep 2026.
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DIXONDixon Technologies (India) Ltd.
