Dixon Technologies on Tuesday said that it is in the final stages of securing government approval for its proposed joint venture with Chinese smartphone maker Vivo. While speaking during the company’s Q4 FY26 earnings call, Dixon Managing Director and CEO Atul Lall said the company is actively engaged with the government regarding the approval process.
“As far as Vivo is concerned, we are already deeply engaged with the government. We feel that we are very, very close to it,” Lall said.
The Dixon-Vivo joint venture, announced in December 2024, aims to manufacture smartphones and other electronic devices in India. The partnership is being seen as an important step for India’s electronics manufacturing ecosystem, especially as the government pushes for greater domestic production and supply-chain localisation.
According to Lall, the proposed partnership could add 20–22 million smartphone units annually to Dixon’s production volumes over time, substantially strengthening the company’s position in the contract manufacturing segment.
On the financial front, Dixon Technologies reported a nearly 36 per cent decline in consolidated net profit for the fourth quarter of FY26. The company posted a net profit of Rs 297.97 crore during the quarter, compared with Rs 464.95 crore in the corresponding period last year, according to a regulatory filing.
However, revenue from operations rose marginally to Rs 10,510.51 crore in Q4 FY26 from Rs 10,292.54 crore a year earlier.
The company’s total expenses increased sharply to Rs 10,230.77 crore during the quarter, compared with Rs 9,981.92 crore in the year-ago period, impacting profitability.
The board of Dixon Technologies has also recommended a final dividend of Rs 10 per equity share with a face value of Rs 2 each for FY26.