Dixon Technologies Management Guidance Tracker

Management expects mobile phone volumes to reach 55-60 million units in FY27, up from 40-42 million in FY26, driven by new ODM customer and Longcheer JV.

Telecom business, including new microwave radio orders, is expected to grow to approximately $1 billion in revenue within two years.

IT hardware business, including the Inventec JV, is expected to reach ₹4,000-5,000 crore in revenue over the next two years.

IT hardware segment revenue expected to grow to ₹3,500-4,000 crore in FY27, driven by strong order book from HP and Asus.

Management targets ~₹56,000 crore revenue for FY27, implying 15-17% growth, assuming flat mobile volumes and excluding Vivo JV.

IT hardware segment expected to grow 3x to over ₹4,000 crore in FY27, driven by strong order books and new customer wins.

Telecom and networking segment targets ₹7,500-8,000 crore revenue in FY27, up from ₹5,000 crore in FY26.

Lighting segment expects 2x revenue growth to ~₹1,700 crore in FY27, driven by JV with Signify and export orders.

Management guided that EBITDA margins could improve to around 4.5-5% over the next 3-4 years as backward integration and operating leverage kick in.

Management expects mobile phone business margins to remain in the 2.8-3.2% range over the next 12 months, including PLI benefits.

HKC JV display module production to start trials in Q1 FY27 and mass production by Q2 FY27, with initial capacity of 24M units for smartphones.

Longcheer JV facility of 400,000 sq ft to be operational by Q2 FY27, with initial capacity of 18M units, expanding to IoT and smart glasses.