Every listed Indian electronics manufacturing company covered here — Dixon, Amber, PG Electroplast, Syrma SGS — against Kaynes, on the same numbers from the same filings. Click a column to rank by it. Tick up to three and press Compare for the full side-by-side.
| Company | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | ₹77.7k Cr | 54.0× | 25.8% | 3.8% | 47.3% | 1.2× | 0.2× | -25.3% | |
| 2 | ₹33.2k Cr | 104.3× | 27.3% | 11.3% | 17.4% | 0.6× | 0.1× | 109.3% | |
| 3 | ₹22.7k Cr | 127.7× | 22.2% | 7.1% | 10.9% | 3.5× | 0.6× | -21.8% | |
| vs | 4Kaynes | ₹21.9k Cr | 60.1× | 33.2% | 15.8% | 13.2% | n/m | 0.2× | -54.0% |
| 5 | ₹14.6k Cr | 74.3× | 8.6% | 7.3% | 10.3% | 0.3× | 0.2× | -7.5% |
Market cap, P/E and the 12-month return move with the market and are dated to the last close. Every other column is the last full financial year. n/m — loss-making, so the multiple means nothing. A dash means not recorded, which is not the same as nil.
| Metric | KAYNES | DIXON |
|---|---|---|
| What you pay9 Oct 2026 | ||
| Share price | ₹3,264.00 | ₹12,774.00 |
| Market cap | ₹21,869 Cr | ₹77,666 Cr |
| P/E | 60.10× | 53.99× |
| P/B | 4.61× | 16.61× |
| P/S | 6.03× | 1.59× |
| 12-month return | -54.0% | -25.3% |
| SizeFY26 | ||
| Revenue | ₹3,626 Cr | ₹48,873 Cr |
| PAT | ₹364 Cr | ₹1,439 Cr |
| Net worth | ₹4,748 Cr | ₹4,677 Cr |
| Gross block | ₹1,732 Cr | ₹4,172 Cr |
| GrowthFY26 | ||
| Revenue growth | 33.2% | 25.8% |
| Revenue CAGR (3y) | 47.7% | 58.9% |
| PAT CAGR (3y) | 56.4% | 77.9% |
| What it keepsFY26 | ||
| EBITDA margin | 15.8% | 3.8% |
| PAT margin | 10.0% | 2.9% |
| ROCE | 13.2% | 47.3% |
| ROE | 7.7% | 30.8% |
| CFO / PAT (3y) | -0.71× | 1.21× |
| What it owesFY26 | ||
| Net debt | ₹114 Cr | ₹53 Cr |
| Debt / equity | 0.19× | 0.21× |
| CWIP | ₹372 Cr | ₹571 Cr |
| Debtor days | 154 days | 49 days |
| Who owns itFY26 | ||
| Promoter holding | 53.5% | 28.6% |
| Institutional holding | 17.6% | 46.3% |
Every figure comes from the same filings the company pages are built from. A dash means the figure is not recorded, which is not the same as nil.
Kaynes builds electronics for other companies — circuit boards and finished devices that go inside cars, factory machinery, trains, hospital equipment, aircraft and satellites — for over 500 customers across 30-odd countries from 22 facilities. It sells almost nothing under its own brand. Revenue grew 40% in the June quarter at a 15.6% operating margin, and the order book stands at ₹8,900 crore.
Dixon builds electronics for other companies' brands — smartphones above all, plus laptops, televisions, refrigerators, washing machines and lighting — and sells almost nothing under its own name. The phone and other contract-manufacturing division brought in ₹14,179 crore of the ₹15,548 crore of June-quarter sales. Revenue was ₹48,873 crore for FY26, up 25.77%, at a 3.83% operating margin.
Mostly by building. ₹1,200 crore has gone into semiconductor packaging and circuit boards so far, with ₹850 crore budgeted this year and ₹170 crore of government subsidy received on the semiconductor side. Acquisitions run alongside: August Electronics in North America, and Sensonic, an Austrian railway signalling software firm. Both new plants are due to produce from the December quarter.
Built mostly, bought in two places and partnered almost everywhere else. It bought 50.1% of Ismartu India, a phone maker, and 51% of Kunshan Q Tech India for camera modules; laptops come through a joint venture with Inventec, telecom equipment through one with Bharti's Beetel, and a phone venture with Vivo received government approval in July 2026. Camera-module capacity is to rise from 70 million to 180–190 million a year, and machinery is being installed in a new display plant.
Founded and run by Ramesh Kunhikannan, now executive vice chairman, with his wife Savitha Ramesh as chairperson and Dr Muthukumar Narayanaswamy as managing director. The family owns 53.46%, almost all of it in Mr Kunhikannan's name, with none of it pledged and none sold through the share's fall.
Two long-serving executives: Sunil Vachani as executive chairman, and Atul B. Lall, who has led the business since its foundation, as vice chairman and managing director. Four of the eight directors are independent. Promoters, mostly Vachani family trusts, hold 28.55% with nothing pledged. Mr Lall was paid ₹81.89 crore in FY26, ₹74.86 crore of it from stock options he exercised.
On slowing the smart meter business: “we put our foot down saying that we need to make a collection first to make sure that we continue to supply.”
Muthukumar N. · Q1 FY27 earnings call
Working capital ran at “negative five days” in the June quarter.
Q1 FY27 earnings call
On the second phone incentive scheme: “we feel that it's a very well-curated scheme.”
Atul B. Lall · Q1 FY27 earnings call
Closing prices to 9 Oct 2026, adjusted for bonuses and splits. Dividends are not counted. This is what happened, not what will.
A sector, read end to end, and the companies as they are published. Roughly monthly. Nothing else, and one click to stop.