The two companies would also explore enhancing component ecosystem in India through the wholly owned subsidiaries of Dixon.

Atul B. Lall, vice chairman & managing director, Dixon Technologies (India), said: "The Indian electronics manufacturing services (EMS) industry has embarked on an upward journey.

Now, with most of the global mobile phone manufacturers and their supply chain partners investing in manufacturing, the Indian EMS industry is well-positioned to unlock its true potential in the coming years."

Dixon Technologies (India) is a diversified EMS company with operations in the electronic products vertical. The company has operations in various sub-segments such as consumer electronics, lighting, home appliance, and mobile phone segments and also undertakes reverse logistics operations. It also undertakes manufacturing of security surveillance equipment through a JV company AIL Dixon Technologies Private Limited.

The company's consolidated net profit jumped 28% to Rs 80.63 crore on 3.8% rise in revenue from operations to Rs 3,065.45 crore in Q4 FY23 over Q4 FY22.