Syrma SGS Technology Ltd
Incorporated in 2004, Syrma SGS Technology Ltd is a Chennai-based electronics manufacturing services (EMS) company providing engineering, design, and manufacturing solutions.[1]
- Market Cap ₹ 27,754 Cr.
- Current Price ₹ 1,439
- High / Low ₹ 1,543 / 634
- Stock P/E 82.5
- Book Value ₹ 154
- Dividend Yield 0.10 %
- ROCE 15.0 %
- ROE 12.6 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 59.6% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 52.8%
Cons
- Stock is trading at 9.37 times its book value
- Company has a low return on equity of 8.68% over last 3 years.
- Promoter holding has decreased over last 3 years: -4.99%
- Working capital days have increased from 29.9 days to 60.6 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 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 354 | 397 | 438 | 646 | 1,136 | 1,833 | 3,616 | 4,367 | 4,902 | |
| 312 | 328 | 390 | 588 | 1,053 | 1,798 | 3,332 | 3,924 | 4,414 | |
| Operating Profit | 42 | 69 | 48 | 58 | 83 | 35 | 284 | 444 | 488 |
| OPM % | 12% | 17% | 11% | 9% | 7% | 1.9% | 8% | 10% | 10% |
| 3 | 2 | 6 | 8 | 37 | 51 | 45 | 37 | 43 | |
| Interest | 8 | 10 | 6 | 5 | 16 | 30 | 55 | 41 | 38 |
| Depreciation | 10 | 10 | 12 | 13 | 17 | 32 | 63 | 68 | 68 |
| Profit before tax | 27 | 52 | 36 | 48 | 86 | 24 | 211 | 372 | 425 |
| Tax % | 23% | 16% | 21% | 36% | 36% | 16% | 20% | 21% | |
| 21 | 44 | 29 | 31 | 55 | 20 | 169 | 293 | 334 | |
| EPS in Rs | 298.68 | 615.26 | 382.62 | 2.22 | 3.11 | 1.13 | 9.47 | 15.21 | 17.31 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 48% | 133% | 16% | 10% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 58% |
| 3 Years: | 57% |
| TTM: | 44% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 60% |
| 3 Years: | 75% |
| TTM: | 66% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 44% |
| 1 Year: | 93% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 8% |
| 3 Years: | 9% |
| Last Year: | 13% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.70 | 0.70 | 0.75 | 138 | 177 | 177 | 178 | 193 |
| Reserves | 56 | 101 | 236 | 406 | 1,278 | 1,264 | 1,548 | 2,769 |
| 101 | 90 | 62 | 138 | 256 | 502 | 610 | 272 | |
| 128 | 155 | 160 | 233 | 460 | 1,151 | 1,681 | 2,001 | |
| Total Liabilities | 286 | 347 | 460 | 915 | 2,172 | 3,095 | 4,017 | 5,235 |
| 86 | 86 | 81 | 114 | 248 | 474 | 796 | 874 | |
| CWIP | 0 | 0 | 0 | 40 | 25 | 10 | 56 | 37 |
| Investments | 0 | 0 | 89 | 404 | 461 | 678 | 327 | 1,065 |
| 200 | 260 | 290 | 356 | 1,438 | 1,933 | 2,838 | 3,259 | |
| Total Assets | 286 | 347 | 460 | 915 | 2,172 | 3,095 | 4,017 | 5,235 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 10 | 71 | 24 | 14 | -61 | -186 | 145 | 253 | |
| -22 | -26 | -95 | -387 | -861 | 14 | -61 | -709 | |
| 13 | -21 | 68 | 355 | 942 | 182 | -77 | 553 | |
| Net Cash Flow | 2 | 25 | -3 | -19 | 20 | 10 | 8 | 97 |
| Free Cash Flow | -12 | 42 | 18 | -58 | -156 | -445 | 25 | 119 |
| CFO/OP | 43% | 112% | 70% | 46% | -50% | -479% | 67% | 72% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 102 | 107 | 106 | 97 | 74 | 140 | 142 | 133 |
| Inventory Days | 106 | 110 | 100 | 95 | 147 | 158 | 98 | 100 |
| Days Payable | 152 | 172 | 149 | 123 | 150 | 245 | 195 | 202 |
| Cash Conversion Cycle | 57 | 45 | 58 | 69 | 71 | 53 | 46 | 31 |
| Working Capital Days | 1 | -4 | 38 | -17 | 11 | 0 | 29 | 61 |
| ROCE % | 38% | 17% | 11% | 9% | 3% | 12% | 15% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Auto Vertical Revenue ₹ Million |
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| Consumer Vertical Revenue ₹ Million |
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| Industrials Vertical Revenue ₹ Million |
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| IT & Railways Vertical Revenue ₹ Million |
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| Export Revenue ₹ Million |
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| ODM Revenue ₹ Million |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Acquisition
- Syrma SGS formed 60:40 subsidiary SYRMA KAGA ELECTRONICS PRIVATE LIMITED on August 18, 2026.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Management will participate in Equirus Annual India Conference on 13 August 2026 in Mumbai.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- Earning Call Transcript of the Investors Conference call held for the unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended June …
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Announcement under Regulation 30 (LODR)-Newspaper Publication
- Post dispatch Newspaper Advertisement - Notice for 22nd Annual General Meeting of the Company and information pertaining to e-voting
Annual reports
Concalls
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Aug 2026Transcript PPT REC
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Jun 2026Transcript PPT
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May 2026TranscriptAI SummaryPPT
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Feb 2026Transcript PPT
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Nov 2025Transcript PPT REC
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Jul 2025Transcript PPT REC
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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 2024TranscriptAI SummaryPPT
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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 2023TranscriptAI SummaryPPT
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Feb 2023Transcript PPT
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Nov 2022TranscriptPPT
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.