Syrma SGS Technology Ltd
Incorporated in 2004, Syrma SGS Technology Limited is a Chennai-based engineering and design company engaged in electronics manufacturing services (EMS). The company provides integrated services and solutions to original equipment manufacturers (OEMs) from the initial product concept stage to volume production through concept co-creation and product realization.[1]
- Market Cap ₹ 14,357 Cr.
- Current Price ₹ 746
- High / Low ₹ 781 / 355
- Stock P/E 136
- Book Value ₹ 84.1
- Dividend Yield 0.20 %
- ROCE 7.22 %
- ROE 5.54 %
- Face Value ₹ 10.0
Pros
- Company has been maintaining a healthy dividend payout of 71.5%
Cons
- Stock is trading at 8.87 times its book value
- Company has a low return on equity of 4.02% over last 3 years.
- Earnings include an other income of Rs.61.9 Cr.
- Company has high debtors of 185 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|---|
354 | 397 | 438 | 646 | 1,136 | 1,833 | 2,278 | 2,024 | |
312 | 328 | 390 | 588 | 1,053 | 1,798 | 2,134 | 1,863 | |
Operating Profit | 42 | 69 | 48 | 58 | 83 | 35 | 144 | 161 |
OPM % | 12% | 17% | 11% | 9% | 7% | 2% | 6% | 8% |
3 | 2 | 6 | 8 | 37 | 51 | 44 | 62 | |
Interest | 8 | 10 | 6 | 5 | 16 | 30 | 47 | 48 |
Depreciation | 10 | 10 | 12 | 13 | 17 | 32 | 46 | 48 |
Profit before tax | 27 | 52 | 36 | 48 | 86 | 24 | 95 | 127 |
Tax % | 23% | 16% | 21% | 36% | 36% | 16% | 16% | |
21 | 44 | 29 | 31 | 55 | 20 | 80 | 104 | |
EPS in Rs | 298.68 | 615.26 | 382.62 | 2.22 | 3.11 | 1.13 | 4.48 | 5.83 |
Dividend Payout % | 0% | 0% | 0% | 0% | 48% | 133% | 34% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 42% |
3 Years: | 52% |
TTM: | -14% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 11% |
3 Years: | 39% |
TTM: | 649% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 64% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 5% |
3 Years: | 4% |
Last Year: | 6% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|
Equity Capital | 0.70 | 0.70 | 0.75 | 138 | 177 | 177 | 178 |
Reserves | 56 | 101 | 237 | 406 | 1,278 | 1,264 | 1,320 |
101 | 90 | 61 | 138 | 256 | 502 | 539 | |
128 | 155 | 160 | 233 | 460 | 1,151 | 1,441 | |
Total Liabilities | 286 | 347 | 460 | 915 | 2,172 | 3,095 | 3,478 |
86 | 86 | 81 | 114 | 248 | 474 | 498 | |
CWIP | 0 | 0 | 0 | 40 | 25 | 10 | 52 |
Investments | 0 | 0 | 89 | 404 | 461 | 678 | 676 |
200 | 260 | 290 | 356 | 1,438 | 1,933 | 2,251 | |
Total Assets | 286 | 347 | 460 | 915 | 2,172 | 3,095 | 3,478 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|
10 | 71 | 24 | 13 | -61 | -186 | 87 | |
-22 | -26 | -95 | -387 | -861 | 14 | -47 | |
13 | -21 | 68 | 355 | 942 | 182 | -40 | |
Net Cash Flow | 2 | 25 | -3 | -19 | 20 | 10 | 0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|
Debtor Days | 102 | 107 | 106 | 97 | 74 | 140 | 185 |
Inventory Days | 106 | 110 | 100 | 95 | 147 | 158 | 95 |
Days Payable | 152 | 172 | 149 | 123 | 150 | 245 | 271 |
Cash Conversion Cycle | 57 | 45 | 58 | 69 | 71 | 53 | 10 |
Working Capital Days | 1 | -4 | 38 | -17 | 11 | 0 | 0 |
ROCE % | 38% | 17% | 11% | 9% | 3% | 7% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Allotment
12 Aug - Syrma SGS raised ₹10,000 million via QIP issuing 14.3 million shares at ₹699 each, increasing equity capital.
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Announcement under Regulation 30 (LODR)-Institutional Placement Programme
12 Aug - Syrma SGS closes QIP at ₹699/share with 4.98% discount, approves placement documents.
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Announcement under Regulation 30 (LODR)-Demise
11 Aug - Demise of Syrma Johari Medtech MD, founder Mr. Satyendra Johari on August 8, 2025.
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Announcement under Regulation 30 (LODR)-Demise
10 Aug - Passing of Mr. Satyendra Johari, Chairman and MD of Syrma Johari Medtech Limited on August 8, 2025.
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Intimation Of The Approval Of The Audited Consolidated Financial Statements For The Year Ended March 31, 2025, Under Regulation 30 Of The SEBI (Listing Obligation And Disclosure Requirements) Regulations, 2015 ("SEBI LODR Regulations')
7 Aug - Board approved audited consolidated financials for FY ended March 31, 2025, subject to shareholder approval.
Concalls
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About[1] Syrma is a technology-focused engineering and design company engaged in turnkey electronics manufacturing services (“EMS”), specializing in precision manufacturing for diverse end-use industries. They are leaders in high-mix volume product management and are present in most industrial verticals