Dixon Technologies’ Revenue Set to Soar on Mobile and EMS Segment Growth

Indian electronics component manufacturer Dixon Technologies (NSE: DIXON) is on track for a dramatic revenue expansion in 2025, with consensus estimates pointing to a +124% year-over-year surge to ₹397 billion—driven largely by its Mobile and Electronics Manufacturing Services (EMS) division. According to Visible Alpha, the segment’s revenue is expected to see revenue soar +205% to ₹ 333 billion in 2025, following a +109% increase last year.

Once a minor contributor, Mobile and EMS accounted for 12% of Dixon’s total revenue in 2020. By 2024, that share had risen to 62%, and projections suggest it could reach 89% by 2029, highlighting a fundamental shift in the company’s revenue mix. This comes as Dixon deepens strategic partnerships in mobile manufacturing, and as its traditional Consumer Electronics division—previously its primary revenue driver—faces three consecutive years of decline. Lower demand for LED TVs has weighed on the segment, prompting Dixon to focus on improving original design manufacturing (ODM) share through backward integration. Meanwhile, Dixon’s Lighting business, which has also seen revenue declines for two consecutive years, is expected to recover gradually in 2025 as demand stabilizes.