Syrma SGS Technology Ltd

Syrma SGS Technology Ltd

₹ 796 -0.16%
02 Apr - close price
About

Incorporated in 2004, Syrma SGS Technology Ltd is a Chennai-based electronics manufacturing services (EMS) company providing engineering, design, and manufacturing solutions.[1]

Key Points

Brief History[1]
Syrma SGS brings together over four decades of experience through the combination of Syrma and SGS Tekniks. Syrma, a Tandon Group company, has been engaged in electronics manufacturing in India since the late 1970s, while SGS Tekniks, established in the early 1990s, focused on serving automotive customers in North India. Following the merger, Syrma SGS operates as an electronics manufacturing services provider with a presence across global and Indian customers.

  • Market Cap 15,355 Cr.
  • Current Price 796
  • High / Low 910 / 355
  • Stock P/E 62.2
  • Book Value 145
  • Dividend Yield 0.19 %
  • ROCE 6.34 %
  • ROE 4.54 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 71.5%

Cons

  • Stock is trading at 5.51 times its book value
  • Company has a low return on equity of 3.63% over last 3 years.
  • Company has high debtors of 185 days.
  • Promoter holding has decreased over last 3 years: -4.55%

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
276 430 308 393 404 727 816 796 829 465 917 1,087 1,151
261 399 302 382 399 718 802 732 761 418 822 982 1,024
Operating Profit 16 30 6 11 6 9 14 64 69 48 95 105 127
OPM % 6% 7% 2% 3% 1% 1% 2% 8% 8% 10% 10% 10% 11%
13 21 20 7 12 13 12 8 20 18 7 10 10
Interest 4 3 5 6 8 10 11 13 14 12 14 12 6
Depreciation 4 6 6 7 9 10 11 15 16 12 17 17 16
Profit before tax 21 43 16 6 1 2 4 44 58 41 71 86 115
Tax % 25% 42% 36% -43% 12% 32% 29% 19% 14% 22% 25% 24% 19%
16 25 10 8 1 1 3 35 50 32 54 65 93
EPS in Rs 0.89 1.42 0.57 0.45 0.04 0.08 0.15 1.99 2.82 1.81 3.02 3.40 4.84
Raw PDF

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 3,621
312 328 390 588 1,053 1,798 2,134 3,245
Operating Profit 42 69 48 58 83 35 144 376
OPM % 12% 17% 11% 9% 7% 2% 6% 10%
3 2 6 8 37 51 44 45
Interest 8 10 6 5 16 30 47 44
Depreciation 10 10 12 13 17 32 46 63
Profit before tax 27 52 36 48 86 24 95 313
Tax % 23% 16% 21% 36% 36% 16% 16%
21 44 29 31 55 20 80 245
EPS in Rs 298.68 615.26 382.62 2.22 3.11 1.13 4.48 13.07
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: 7%
3 Years: 30%
TTM: 170%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 43%
1 Year: 71%
Return on Equity
10 Years: %
5 Years: 4%
3 Years: 4%
Last Year: 5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 0.70 0.70 0.75 138 177 177 178 192
Reserves 56 101 237 406 1,278 1,264 1,320 2,596
101 90 61 138 256 502 539 271
128 155 160 233 460 1,157 1,441 1,952
Total Liabilities 286 347 460 915 2,172 3,101 3,478 5,011
86 86 81 114 248 474 495 789
CWIP 0 0 0 40 25 10 55 73
Investments 0 0 89 404 461 678 676 410
200 260 290 356 1,438 1,939 2,251 3,739
Total Assets 286 347 460 915 2,172 3,101 3,478 5,011

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 14 -61 -185 87
-22 -26 -95 -387 -861 15 -46
13 -21 68 355 942 180 -40
Net Cash Flow 2 25 -3 -19 20 10 1
Free Cash Flow -12 42 18 -58 -156 -444 -15
CFO/OP 43% 112% 70% 46% -50% -480% 71%

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% 6%

Insights

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Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Export Share of Revenue
Percentage

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Number of Manufacturing Facilities
Count
Order Book Visibility
INR Million
Net Working Capital Cycle
Days
ODM Revenue Share
Percentage
Total Employee Strength
Count
Utility Metering Annual Production
Million Units

Shareholding Pattern

Numbers in percentages

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
47.27% 47.27% 47.22% 46.89% 46.89% 46.89% 46.89% 46.58% 46.53% 46.43% 42.98% 42.72%
4.61% 9.27% 10.14% 11.13% 12.95% 10.44% 10.32% 8.49% 6.20% 6.34% 7.02% 6.47%
8.58% 9.24% 9.63% 8.21% 5.80% 6.45% 6.44% 7.46% 7.74% 9.15% 16.38% 15.89%
39.52% 34.24% 33.02% 33.78% 34.36% 36.22% 36.35% 37.38% 39.49% 38.04% 33.53% 34.80%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.09% 0.06% 0.06% 0.08% 0.13%
No. of Shareholders 93,80081,72496,4521,05,0681,12,3951,24,9431,29,3981,34,5031,63,2961,61,0891,70,9831,78,615

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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