Dixon Technologies Share Price: 33.4% CAGR in 3 Years Against Netweb and Syrma SGS

Dixon Technologies previous close Rs 12,603. 3-year CAGR 33.4%. Up 2.4x since 9 Nov 2023. ROE 26.38%. Market cap Rs 77,092 crore.

The Dixon Technologies share price has been the large cap anchor of Indian electronics manufacturing. Dixon Technologies, the Noida-based maker of televisions, mobile phones, appliances and lighting for leading brands, has more than doubled investor money over three years on a market cap that is several times larger than its peers.

We compare that record with Netweb Technologies and Syrma SGS Technology. The article calculates three-year CAGR for all three and sets the results beside market cap, valuation, return on equity and debt, using prices adjusted for corporate actions.

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How Much Has the Dixon Technologies Share Price Returned in 3 Years?

The Dixon Technologies stock closed at Rs 5,305.85 on 9 November 2023 and at Rs 12,603.00 on 9 November 2026. Rs 1 lakh invested three years ago would have grown to about Rs 2.38 lakh, which is a CAGR of 33.4%. This is a price return and leaves out dividends.

CAGR condenses a bumpy three-year ride into one yearly number, which is why it is the fairest way to compare companies of different sizes. A stock such as Dixon Technologies can look spectacular on a chart and still have earned a modest yearly return, so the compounded figure keeps the comparison honest.

The Dixon Technologies share price has also followed the push to manufacture electronics in India, where government incentive schemes and large brand contracts have widened the order books of contract manufacturers.

Dixon Technologies vs Netweb Technologies and Syrma SGS Technology: 3-Year CAGR Compared

The table ranks the companies by three-year CAGR. Prices on 9 November 2023 are adjusted for splits and bonuses, and the latest figures are the previous close on 9 November 2026.

Company	Close on 9 Nov 2023	Previous close (9 Nov 2026)	Price multiple	3-year CAGR
Netweb Technologies	Rs 771.80	Rs 3,839.00	5.0x	70.7%
Syrma SGS Technology	Rs 531.35	Rs 1,462.00	2.8x	40.1%
Dixon Technologies	Rs 5,305.85	Rs 12,603.00	2.4x	33.4%

The Dixon Technologies stock ranks third of the three at 33.4%. The companies ahead are Netweb Technologies (70.7%) and Syrma SGS Technology (40.1%). Netweb leads the group, with Syrma SGS in second place and Dixon, the largest of the three by a wide margin, in third. All three compounded at a healthy pace, so the order reflects the size of the starting base as much as business quality.

Look at the Dixon Technologies share price alongside the peers as a snapshot of the last three years. It describes what happened, and valuation and earnings will decide what happens next.

Valuation and Quality Compared

Company	Market cap	P/E	Industry P/E	ROE	Debt to equity
Dixon Technologies	Rs 77,092 crore	44.12	45.38	26.38%	0.21
Syrma SGS Technology	Rs 28,192 crore	61.35	64.23	13.85%	0.27
Netweb Technologies	Rs 22,835 crore	62.41	31.28	17.39%	0.16

By market cap, Dixon Technologies is the largest of the group at Rs 77,092 crore, which gives it the scale advantage over Netweb Technologies, Syrma SGS Technology. On earnings, Dixon Technologies shares trade at a P/E of 44.12 against an industry P/E of 45.38, a discount of about 3% to the sector, which leaves room if earnings keep growing. Peer multiples are Netweb Technologies at 62.41 and Syrma SGS Technology at 61.35.

Return on equity is 26.38% for the Dixon Technologies stock, which ranks first among the three, and debt to equity stands at 0.21. Trailing EPS is Rs 285.46. Electronics manufacturers often carry high multiples when order books are growing, so the P/E should be read together with return on equity and the pace of earnings growth.

What Is Driving the Dixon Technologies Stock?

Dixon Technologies manufactures consumer electronics and home appliances for other brands, and it also runs a mobile phone manufacturing business. It works with leading global and Indian brands.

A contract manufacturer with several product lines is less tied to one customer group. The company has been adding capacity and new product categories, which can support revenue growth over time.

Followers of the Dixon Technologies share price usually track new customer contracts, capacity additions, margins and the share of revenue from mobile phones and components.

How the Established Players Stack Up

Netweb Technologies builds high performance computing systems and servers for research, enterprise and government customers. It compounded at 70.7% a year, on a market cap of Rs 22,835 crore and an ROE of 17.39%.

Syrma SGS Technology makes printed circuit board assemblies, RFID products and box build products for industrial, automotive, healthcare and consumer customers. It compounded at 40.1% a year, on a market cap of Rs 28,192 crore and an ROE of 13.85%.

What Should Investors Track Next?

Three things are worth watching on the Dixon Technologies share price. First, the order book and new contract wins. Second, margins as the company scales into components. Third, working capital needs, since contract manufacturing ties up money in inventory.

At a P/E of 44, the stock already prices in strong growth. A three-year CAGR describes the past, so size any position accordingly.

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How to Compare Electronics Manufacturing Stocks Yourself

You can repeat this exercise for any pair of stocks, including the Dixon Technologies stock against its peers. Note the adjusted closing price on the base date, take the latest close, divide one by the other, raise the result to the power of one third and subtract one. Then place the CAGR next to market cap, P/E against the industry P/E, ROE and debt to equity. Benchmark the result against the Nifty 50 as well, so you know whether the stock beat the broader market.

A stock that scores well on growth but weakly on quality, or the reverse, deserves closer study before it enters a portfolio. When tracking the Dixon Technologies share price, the same four checks give a more complete picture than price alone.

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The Large Cap Anchor of Indian Electronics Manufacturing

The Dixon Technologies share price compounded at 33.4% a year over three years, against Syrma SGS at 40.1% and Netweb at 70.7%. Its ROE of 26.38% is the highest of the three, with a debt to equity of 0.21.

Netweb brings a focused computing niche, Syrma SGS brings a diversified customer base, and Dixon brings scale and the highest ROE. Matching the choice to your risk appetite matters more than the highest number in the table.

Frequently Asked Questions

What is the Dixon Technologies share price today?

Ans. Dixon Technologies closed at Rs 12,603 on 9 November 2026, according to NSE data. It has a market cap of Rs 77,092 crore and a P/E of 44.12. Check live quotes before acting, as prices change every trading day.

What is the 3-year CAGR of the Dixon Technologies stock?

Ans. Dixon Technologies delivered a price CAGR of 33.4% over three years, moving from Rs 5,305.85 on 9 November 2023 to Rs 12,603.00 on 9 November 2026. The figure excludes dividends and uses adjusted closing prices.

Is Dixon Technologies better than Netweb?

Ans. The Netweb stock delivered a higher three-year CAGR at 70.7% than Dixon at 33.4%. Dixon is far larger by market cap at Rs 77,092 crore and has the higher ROE at 26.38% against 17.39%, while its P/E of 44.12 is lower than the 62.41 for Netweb.

What does Dixon Technologies do?

Ans. Dixon Technologies is a Noida-based electronics manufacturing services company that makes televisions, mobile phones, home appliances and lighting for leading brands.

Is the Dixon Technologies stock debt free?

Ans. The debt to equity ratio of the Dixon Technologies stock is 0.21 and its return on equity is 26.38%. Always check the latest balance sheet for current figures, as debt levels change with expansion plans.

Is Dixon Technologies expensive compared with the industry?

Ans. Dixon Technologies trades at a P/E of 44.12 against an industry P/E of 45.38. A higher multiple reflects expectations of faster growth, which the company must deliver through earnings.

Which electronics manufacturing stock gave the highest return in 3 years?

Ans. Among the companies compared here, Netweb Technologies delivered the highest three-year CAGR at 70.7%, followed by Syrma SGS Technology at 40.1%. Past returns do not guarantee future performance.

How do I calculate CAGR for a stock?

Ans. Divide the latest price by the starting price, raise the result to the power of one divided by the number of years, and subtract one. Multiply by 100 for a percentage. Use split and bonus adjusted prices for accurate results.