India EMS Firms Show Divergent Q3 Outcomes

In the December quarter (Q3FY26), Dixon Technologies reported operating revenue of ₹10,672 crore, down 28% sequentially, and net profit of ₹321 crore, down 57%, while Syrma SGS posted ₹1,264 crore in operating revenue, up 10%, and net profit of ₹110 crore, up 66%. Syrma credited export-led sales in automotive, medical and defence electronics for stronger margins and cash flow, underscoring diversification's importance for EMS firms.