Atul Lall, MD of Dixon Technologies, says India’s electronics manufacturing service (EMS) industry is set to reach $300 billion by 2026-2027. Smartphones will be the biggest driver of this growth.
“We have almost 50% of the outsourcing market. All major Android brands are our clients. We are confident that growth will be strong,” Lall said. He expects 200-250% growth in the telecom sector due to new products in their joint venture with Airtel.
“Our order book is strong. We are on a good path,” he assured stakeholders. Lall also mentioned that the company plans to produce 20-30 million mobile units this fiscal year and aims for 20% growth, reaching 35-40 million units by FY26.
Dixon Technologies holds 50% of India’s Android capacity and has started commercial production of refrigerators with a strong order book. On June 7, 2024, Dixon Technologies’ shares hit a record high, surpassing ₹10,000. The company has also partnered with HKC Corp Ltd. to form a joint venture for manufacturing and selling products like smartphones, TVs, and automotive displays.
“This JV with HKC will materialize in the next 8-10 months. We will set up a facility in Noida to produce 20 million mobile displays initially, mainly for our use,” Lall said. The production will double to 40 million units in the second year, generating ₹2,500 crore in revenue. Dixon Technologies’ current market capitalisation stands at ₹74,743 crore.
