India’s electronic manufacturing services (EMS) sector has quietly delivered impressive stock market returns over the past year, with three notable companies—Amber Enterprises, Dixon Technologies, and Kaynes Technology—posting over 75% gains in the last 12 months. Despite short-term volatility, the long-term story for EMS players appears strong, underpinned by domestic production tailwinds and government incentives.
Amber Enterprises, a major player in air-conditioner components and contract manufacturing, has emerged as one of the top performers. The stock has gained 84.63% over the past year, supported by a 40.99% rally in the last six months and 20.37% jump in just one month. The company has benefited from increased outsourcing in the cooling products segment and rising localisation.
Dixon Technologies, India’s leading EMS provider for consumer electronics and appliances, has also delivered a 76% return in the last one year, although recent performance has seen some cooling. The stock is down 5% in the last month and has dipped 1.2% over the past six months, but continues to hold long-term promise, particularly as a beneficiary of the government’s PLI schemes.
Kaynes Technology, known for high-end electronics and embedded systems manufacturing, has kept pace with Amber, delivering an 84% gain in the past year. The stock is up 22% in the past month, indicating renewed investor interest, though it remains down 2% over the last six months, likely due to sectoral consolidation and macro sentiment.
While not all of them are directly into semiconductor fabrication, these EMS players are key contributors to India’s larger ambition to become a global electronics and chipmaking powerhouse. Their strong one-year performance highlights investor optimism in the sector’s future.
Disclaimer: Some data in round figure. This article is for informational purposes only and does not constitute investment advice. Investors are advised to consult with their financial advisors before making any investment decisions.
