Tue Jan 21 10:13:07 UTC 2025: ## Dixon Technologies Shares Plunge After Disappointing Q3 Results

**Mumbai, India** – Shares of Dixon Technologies (India) plummeted over 13 percent today following the release of the company’s Q3FY25 results, which revealed a significant decline in both net profit and revenue. Net profit dropped 47.5 percent year-on-year to Rs 216 crore, while revenue fell by over 9 percent to Rs 10,453.7 crore. The decline was largely attributed to a 32 percent year-on-year drop in consumer electronics sales.

The poor performance has led to a 12 percent year-to-date decline in Dixon’s stock price, underperforming the Nifty 50 index. Jefferies maintained an ‘Underperform’ rating with a target price of Rs 12,600, citing concerns over the company’s high valuation (107x FY26 PE). Motilal Oswal Financial Services also flagged potential risks including slower market growth and increased competition.

However, Nuvama Institutional Equities raised its target price to Rs 18,790 from Rs 16,400, maintaining a ‘Hold’ rating and acknowledging Dixon’s strong execution and future prospects, but expressing a preference for a lower entry point. Nuvama revised its FY25E/26E/27E PAT estimates downward by 3 percent, 5 percent, and 10 percent respectively, due to weaker TV performance, the Vivo JV, and the full consolidation of Ismartu. The company recently formed a joint venture with Vivo and plans to enter Display Fab manufacturing, contingent on government incentives.

Investors are advised to consult with financial advisors before making any investment decisions. For continuous market updates, follow Moneycontrol’s live blog and app.

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