DTDixon Technologies (India)540699Electronics manufacturing

Analyst flagged margin pressure concerns at Dixon Technologies following Vivo JV-related tactical trade and management commentary on mobile and other electronics segments

By ScoutQuest · Mon 2 Nov 2026, 8:37 AM IST · 1 min read

Current forward PE multiple

48 times

Alternative PE multiple cited

42 times

Ideal buy valuation multiple

35 to 40 times

Expected correction

5 to 10 percent

Government spending recognized as revenue

1,000 crore rupees

Heard on business television between 08:46:05 - 08:49:05 IST.

• Analyst said their Dixon play was a tactical trade tied to Vivo JV expectation, which has now played out.
• Management commentary in concall suggested margin pressure likely to persist for a couple of quarters, particularly in mobile segment.
• Washing machine, refrigeration and other electronics components also expected to see margin pressure.
• Stock seen as expensive at 48x one-year forward (42x normalized) PE given headwinds; analyst expects 5-10% correction and multiple compression to 35-40x as ideal buy valuation.
• About 1,000 crore rupees of government spending recognized as revenue pending independent auditor advice, with cash flow from operations negative, flagged as a concern.

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