Motilal Oswal has restated its positive outlook on Dixon Technologies, with a target price of Rs 17,500. The firm believes that despite the conclusion of the Production-Linked Incentive (PLI) scheme in FY26, the mobile segment will continue to experience strong growth due to factors such as client additions, increased wallet share, and export opportunities.

The report also highlights that Dixon's margins will be strengthened by its efforts in backward integration after the PLI period. Furthermore, the expected expansion in other segments is projected to contribute to the company's growth. Motilal Oswal remains confident in Dixon's ability to benefit from the growth of existing segments, the introduction of new segments, and improvements in the Original Design Manufacturer (ODM) mix.