In a significant move within the electronics manufacturing sector, a leading EMS company has inked a Memorandum of Understanding with Cellecor for the production of refrigerators and associated components. This strategic partnership signals an expansion into white goods manufacturing, potentially marking a new growth phase for the established electronics manufacturer.
Share Price Movement
The share price of Dixon Technologies Limited went up by 3.1 percent to Rs. 18,608.65 per share on Friday, an increase from its previous close of Rs. 18,038.15 per share. The market capitalisation now stands at approximately Rs. 1,06,520 crore as of December 27, 2024.
Order Details
Dixon Electro Manufacturing, a fully owned subsidiary of Dixon Technologies, has signed an agreement with Cellecor Gadgets Limited to manufacture refrigerators and related components for Cellecor. Cellecor is a well-known brand in the consumer electronics industry, offering a wide range of products like mobile phones, smart TVs, soundbars, smartwatches, kitchen appliances, and home appliances such as washing machines, air conditioners, refrigerators, and more.
This will help Dixon Electro Manufacturing expand its presence in the refrigerator market. He also highlighted that this partnership supports the ‘Make in India’ initiative and aims to meet the growing needs of Indian consumers.
Q2 Financial Highlights
According to its recent filing, in the quarter ending September 2024, Dixon Technologies’s consolidated revenue from operations has increased by 133.34 percent YOY from Rs. 4,943 crore in Q2 FY24 to Rs. 11,534 crore in Q2 FY25 and increased by 75 percent QoQ from Rs. 6,580 crore in Q4 FY24.
The company’s consolidated net profit has increased by 264 percent, from Rs. 113 crore in Q2 FY24 to Rs. 412 crore in Q2 FY25. As compared to the last quarter of 2025, the company’s net profit has increased by 194 percent QoQ from Rs. 140 crore.
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Market Outlook
The Indian electronics industry is set for rapid growth, driven by strong local demand, rising incomes, and technological advancements. The government’s “Make in India for the World” strategy aims to boost production to USD 300 billion by FY26, with a focus on increasing exports.
With the industry expected to grow at a 22% CAGR, India will become a major global electronics hub. This growth is supported by government incentives, local component manufacturing, and evolving global market dynamics, including the shift from China.
Shareholding Pattern
As of the September 2024 shareholding pattern, Dixon Technologies Limited is primarily held by the promoters at 32.89 percent, domestic institutional investors hold 22.69 percent, and the public with 21.27 percent.
About Company
Dixon Technologies (India) Limited, based in Noida, is a frontrunner in electronic manufacturing services (EMS). Established in 1993 by Sunil Vachani, the company has grown into a leading original design manufacturer (ODM) and contract manufacturer. With a diverse portfolio, it supports India’s burgeoning electronics sector by offering cutting-edge products and solutions. Dixon transitioned to a public limited company in 2017, reflecting its remarkable progress and market presence.
The company operates 17 state-of-the-art manufacturing units across India, producing consumer electronics like LED TVs and washing machines, along with lighting solutions and home appliances. Its offerings also include security systems and reverse logistics services. Dixon collaborates with top brands, providing end-to-end manufacturing solutions. Notably, it has entered joint ventures to expand capabilities in wireless audio and smartphone production, reinforcing its competitive edge.
Under the visionary leadership of Sunil Vachani and Atul B. Lall, Dixon continues driving innovation in India’s electronics landscape. Its commitment to excellence positions it as a key player in fulfilling the growing demand for quality electronics.
Written By Fazal Ul Vahab C H
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