Dixon Technologies Faces Vivo JV Delays Amid Anticipated Smartphone Market Slowdown

Dixon Technologies has outlined its smartphone manufacturing projections while reporting significant delays in its Vivo joint venture approval and anticipating a slowdown in the smartphone market. The company forecasts sales between 7 million and 7.5 million units for Q4 FY26, though future projections face uncertainty due to market headwinds.

Smartphone Sales Projections and Market Challenges

The company has provided specific volume targets for the upcoming quarter, indicating strong production capabilities despite market concerns. However, projections for FY27 remain under review as the company navigates evolving market conditions, regulatory approvals, and the anticipated smartphone market slowdown.

Parameter	Details
Q4 FY26 Smartphone Sales	7-7.5 million units
FY27 Status	Under review
Market Outlook	Anticipated slowdown
Vivo JV Status	Delayed approval

Margin Expectations and PLI Impact

Dixon Technologies expects mobile phone margins to range between 2.8% and 3.2% in scenarios without Production Linked Incentive (PLI) extension. This margin guidance provides insight into the company's operational efficiency and cost structure in the smartphone manufacturing segment amid challenging market conditions.

Metric	Range
Mobile Phone Margins (without PLI)	2.8% - 3.2%
PLI Extension Status	Not factored in current projections

Vivo Joint Venture Delays

The company has reported delays in obtaining approval for its Vivo joint venture, which could significantly impact production volumes and market positioning. This partnership was expected to be a key growth driver, but regulatory hurdles have pushed back the timeline for implementation.

Strategic Outlook Amid Market Headwinds

Despite the anticipated smartphone market slowdown and Vivo joint venture delays, Dixon Technologies continues to plan backward integration initiatives for FY27-28. This strategic approach aims to enhance manufacturing capabilities and potentially improve margin profiles through greater control over the supply chain and component sourcing, helping the company navigate market challenges.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+6.01%	+3.64%	-2.60%	-37.18%	-20.66%	+182.05%

Dixon Technologies (India) Limited has been assigned an ESG Score of 76 out of 100 by S&P Global under the Corporate Sustainability Assessment (CSA) for 2025. The assessment was conducted as part of the Dow Jones Sustainability Indices (DJSI) evaluation process, with the report dated 3rd February, 2026.

ESG Assessment Details

The company voluntarily expressed its interest in participating in the DJSI assessment and underwent the Corporate Sustainability Assessment during the relevant assessment cycle. The ESG score reflects the company's performance across environmental, social, and governance parameters as evaluated by S&P Global.

Assessment Parameter:	Details
ESG Score:	76 out of 100
Assessment Body:	S&P Global
Report Date:	3rd February, 2026
Assessment Type:	Corporate Sustainability Assessment (CSA)
Evaluation Framework:	Dow Jones Sustainability Indices (DJSI)
Assessment Year:	2025

Regulatory Compliance

The disclosure has been made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement also adheres to the SEBI Master Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024.

Corporate Communication

Dixon Technologies has made this information available on its official website at www.dixoninfo.com . The company has informed both BSE Limited and National Stock Exchange of India Limited about this development through formal communication dated 4th February, 2026.

The ESG score assignment represents Dixon Technologies' commitment to sustainable business practices and corporate responsibility across environmental, social, and governance dimensions.