Dixon Technologies shares in focus as company forms ₹370 crore JV with Chinese company HKC Overseas

The Dixon Technologies-HKC Overseas joint venture is for the manufacturing and selling of LCD and TFT-LCD modules that are used in electronic devices like TVs, mobile phones, etc., for display, a regulatory filing said on Saturday.

"Dixon Technologies (India) Ltd has entered into a term sheet with HKC Corporation Ltd to form a joint venture for the manufacturing of liquid crystal modules, thin film transistor liquid crystal display modules, assembly of end products such as smartphones, TVs, monitors and auto displays, and selling HKC branded end products in India," the filing said.

HKC Overseas Ltd will acquire a 26% stake in Dixon Display Technologies Pvt Ltd (DDTPL) for $10.998 million, about ₹95.5 crore, and Dixon will acquire a 74% stake in the JV for $31.3 million, about ₹274 crore, in two tranches.

"The company, HKC and DDTPL have executed the SSHA (share subscription and shareholders' agreement) on August 16, 2025," the filing said.

Dixon has been on a spree of forming joint ventures with Chinese technology companies.

Last month, the company had announced a JV with Chinese electronic component firms -- Chongqing Yuhai Precision Manufacturing Co. Ltd. and the Indian arm of Kunshan Q Technology -- for manufacturing and sales of electronic components used in electronic devices like mobile phones and laptops, among others.

Dixon Technologies Q1 FY26 Results

Dixon Technologies (India) Ltd reported an over twofold increase in its consolidated net profit of ₹280.02 crore for the first quarter ended June 2025 (Q1 FY26).

The company had posted a net profit of ₹113.36 crore in the April-June period a year ago, according to a regulatory filing from Dixon Technologies.

Its revenue from operations jumped 95% to ₹12,835.66 crore in the June quarter. It was ₹6,579.80 crore in the corresponding period a year ago.

Dixon Technologies' total expenses were ₹12,478.58 crore in Q1 FY26, up 94.5%.

Its revenue from the Mobile & EMS Division climbed twofold to ₹11,663 crore, contributing 91% of the revenue of Dixon Technologies.

However, revenue from its Consumer Electronics & Appliances (LED TV & Refrigerator) was down 21% to ₹672 crore. Dixon Technologies' revenue from home appliances rose 3% to ₹313 crore.

However, lighting products declined 17% to ₹188 crore.