Dixon Technologies Q2 FY27 results: what the company reported
Dixon Technologies (India) Limited filed its unaudited results for the quarter ended 30 September 2026 (July to September 2026, called Q2 FY27) with NSE on 30 October 2026, the day its board approved them.
Published 2 November 2026 · Potoos Research Services
In short. For July to September 2026, Dixon reported consolidated revenue from operations of Rs 21,793.64 crore, up 46.7% from Rs 14,855.04 crore a year earlier, and net profit of Rs 410.87 crore, down 44.9% from Rs 745.70 crore. The company's filing says the year-ago quarter included a larger fair value gain; its own words are quoted below.
The numbers
All figures are consolidated, in Rs crore, as printed in the company's statement of consolidated financial results. The change column is worked out by us from those figures.
| Item | Jul to Sep 2026 | Jul to Sep 2025 | Change |
|---|---|---|---|
| Revenue from operations | 21,793.64 | 14,855.04 | +46.7% |
| Total income (revenue plus other income) | 21,862.37 | 15,350.78 | +42.4% |
| Net profit for the period | 410.87 | 745.70 | −44.9% |
| Profit attributable to owners of the company | 343.66 | 670.00 | −48.7% |
| Basic EPS (Rs) | 67.44 | 123.60 | −45.4% |
| Item | Apr to Sep 2026 | Apr to Sep 2025 | Change |
|---|---|---|---|
| Revenue from operations | 37,341.30 | 27,690.70 | +34.9% |
| Total income | 37,938.32 | 28,188.12 | +34.6% |
| Net profit for the period | 1,128.70 | 1,025.72 | +10.0% |
| Profit attributable to owners of the company | 1,007.08 | 894.97 | +12.5% |
| Basic EPS (Rs) | 185.27 | 170.02 | +9.0% |
Other income was Rs 68.73 crore in the July to September 2026 quarter, against Rs 495.74 crore a year earlier. Net profit is before the share that belongs to minority (non-controlling) shareholders of subsidiaries; the owners line is after it.
Read past the headline
Revenue rose 46.7%. Net profit fell 44.9%. How can profit fall when sales grew this much?
Show what the filing says
Look at other income: Rs 68.73 crore this quarter against Rs 495.74 crore a year earlier. The company says the year-ago quarter included a Rs 465 crore fair value gain on its stake in Aditya Infotech, against Rs 57 crore this quarter.
On the company's own adjusted view, which leaves those gains out, profit after tax was ₹360 crs against ₹323 crs. The headline number and the notes can point different ways. That is why research starts with the notes.
What the company said
These are the company's own words, from its results filing and its earnings presentation filed the same day.
“Includes fair value gain on stake held by Dixon in Aditya Infotech Limited amounting to INR 57 Cr in Q2 FY27 as against INR 465 Cr in Q2 FY26, INR 28 Cr gain on transfer of lighting business undertaking in Q2 FY26”
Dixon Technologies, Q2 & H1 FY27 earnings presentation, footnote to the reported highlights
“The financial figures for the quarter and half year ended 30 September 2026 are not comparable with those of the corresponding periods of the previous year and quarter and half year of the current year due to the transfer of the lighting business to a Joint Venture company with effect from 01 August 2025.”
Dixon Technologies, notes to the consolidated results, note 5
The same presentation also shows an “Adjusted” view that the company says “Excludes fair value gain on Dixon stake in Aditya Infotech Ltd.& gain on transfer of lighting business undertaking”. On that basis it shows profit after tax (before minority interest) of ₹360 crs for Q2 FY27 against ₹323 crs in Q2 FY26. These adjusted figures are the company's own presentation, not part of the reviewed results table.
What the auditor pointed to
The auditor's limited review report draws attention to note 6 of the results. The note says one of Dixon's subsidiaries has incentive income of Rs 1,110.06 crore under the government's Production Linked Incentive (PLI) scheme that “remains outstanding and receivable as at 30 September 2026, pending formal determination and disbursement by the Project Management Agency”. Against the same incentive, the subsidiary has recorded Rs 576.95 crore payable to its customer.
The note says the subsidiary booked this income because its eligible sales exceeded the scheme's annual ceiling, which the scheme allows when other applicants in the same segment have not used their full limits, and that independent legal advice supports its claim. The auditor states that its conclusion is not modified in respect of this matter.
Dates
- Board meeting: Friday, 30 October 2026 (started 2:16 PM IST, ended 3:45 PM IST). The board approved the results that day.
- Filed with NSE: 30 October 2026.
- Dividend: none declared in this filing.
- Also approved at the same meeting: appointment of Mr. Prithvi Vachani as an Additional Director in the capacity of Executive Director for five years from 30 October 2026, subject to shareholder approval.
Consolidated: the figures for the company together with its subsidiaries, as one group. Standalone figures cover the listed company on its own. Where a filing has both, this page uses consolidated.
PLI (Production Linked Incentive): a government scheme that pays manufacturers an incentive linked to their eligible sales in India. Until the government agency approves and pays it, the amount sits on the books as money receivable.
EPS (earnings per share): the profit that belongs to shareholders, divided by the number of shares. It lets you compare profit per share across periods. For a quarter it is not annualised, so it covers only those three months.
Source
- Dixon Technologies, outcome of board meeting with unaudited standalone and consolidated results, 30 October 2026. nsearchives.nseindia.com
- Dixon Technologies, outcome of board meeting with Q2 & H1 FY27 earnings presentation, 30 October 2026. nsearchives.nseindia.com
This page was written by Potoos Research Services, a SEBI-registered Research Analyst (INH000027380) in Chennai. Every figure above is copied from the company's filing, and every percentage change is worked out from the filing's own numbers.
This page reports what the company filed. It is not a recommendation to buy, sell or hold.
Common questions
What was Dixon's revenue in Q2 FY27?
Consolidated revenue from operations for July to September 2026 was Rs 21,793.64 crore, against Rs 14,855.04 crore in July to September 2025, a change of +46.7%.
What was Dixon's profit in Q2 FY27?
Consolidated net profit for the quarter was Rs 410.87 crore, against Rs 745.70 crore a year earlier, a change of −44.9%. Profit attributable to owners of the company was Rs 343.66 crore, against Rs 670.00 crore.
Did Dixon declare a dividend with these results?
No dividend was declared in the 30 October 2026 results filing.
Is this page a recommendation?
No. It reports what the company filed. It is not a recommendation to buy, sell or hold.