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 ₹ 9,243 Cr.
- Current Price ₹ 521
- High / Low ₹ 647 / 355
- Stock P/E 114
- Book Value ₹ 84.3
- Dividend Yield 0.29 %
- ROCE 7.22 %
- ROE 5.54 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has been maintaining a healthy dividend payout of 71.5%
Cons
- Stock is trading at 6.18 times its book value
- Company has a low return on equity of 4.02% over last 3 years.
- 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 | |
---|---|---|---|---|---|---|---|
354 | 397 | 438 | 646 | 1,136 | 1,833 | 2,278 | |
312 | 328 | 390 | 588 | 1,053 | 1,798 | 2,134 | |
Operating Profit | 42 | 69 | 48 | 58 | 83 | 35 | 144 |
OPM % | 12% | 17% | 11% | 9% | 7% | 2% | 6% |
3 | 2 | 6 | 8 | 37 | 51 | 44 | |
Interest | 8 | 10 | 6 | 5 | 16 | 30 | 47 |
Depreciation | 10 | 10 | 12 | 13 | 17 | 32 | 46 |
Profit before tax | 27 | 52 | 36 | 48 | 86 | 24 | 95 |
Tax % | 23% | 16% | 21% | 36% | 36% | 16% | 16% |
21 | 44 | 29 | 31 | 55 | 20 | 80 | |
EPS in Rs | 298.68 | 615.26 | 382.62 | 2.22 | 3.11 | 1.13 | 4.49 |
Dividend Payout % | 0% | 0% | 0% | 0% | 48% | 133% | 34% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 42% |
3 Years: | 52% |
TTM: | 24% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 11% |
3 Years: | 39% |
TTM: | 288% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 12% |
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 | 59 | 52 | 65 | 57 | 65 | 87 | 80 |
ROCE % | 38% | 17% | 11% | 9% | 3% | 7% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Credit Rating
13 Jun - Syrma SGS's INR 1.1 billion Commercial Paper rated IND A1+ by India Ratings & Research.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2 Jun - Syrma SGS to hold non-deal roadshows in India and US from June 5-24, 2025.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2 Jun - Syrma SGS to hold non-deal roadshows in India and US for investor meetings in June 2025.
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Compliances-Reg.24(A)-Annual Secretarial Compliance
29 May - Annual Secretarial Compliance Report for FY ended March 31, 2025; minor delays, auditor resignation disclosed.
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Announcement under Regulation 30 (LODR)-Acquisition
27 May - Incorporated wholly owned subsidiary SYRMA COMPONENTS PRIVATE LIMITED on May 27, 2025.
Concalls
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT
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May 2024Transcript PPT REC
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May 2024TranscriptNotesPPT
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Feb 2024Transcript PPT REC
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Nov 2023Transcript PPT REC
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Aug 2023Transcript PPT REC
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May 2023Transcript PPT REC
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May 2023TranscriptNotesPPT
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Feb 2023Transcript PPT
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Nov 2022TranscriptPPT
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