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 ₹ 26,548 Cr.
- Current Price ₹ 1,377
- High / Low ₹ 1,518 / 634
- Stock P/E 79.0
- Book Value ₹ 154
- Dividend Yield 0.11 %
- ROCE 15.8 %
- ROE 13.3 %
- 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 58.7%
Cons
- Stock is trading at 9.09 times its book value
- Company has a low return on equity of 7.45% over last 3 years.
- Promoter holding has decreased over last 3 years: -4.99%
- Working capital days have increased from 34.0 days to 101 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 | 2,278 | 4,367 | 4,902 | |
| 312 | 328 | 390 | 588 | 1,053 | 1,798 | 2,134 | 3,924 | 4,414 | |
| Operating Profit | 42 | 69 | 48 | 58 | 83 | 35 | 144 | 443 | 488 |
| OPM % | 12% | 17% | 11% | 9% | 7% | 1.9% | 6% | 10% | 10% |
| 3 | 2 | 6 | 8 | 37 | 51 | 44 | 38 | 43 | |
| Interest | 8 | 10 | 6 | 5 | 16 | 30 | 47 | 41 | 38 |
| Depreciation | 10 | 10 | 12 | 13 | 17 | 32 | 46 | 68 | 68 |
| Profit before tax | 27 | 52 | 36 | 48 | 86 | 24 | 95 | 372 | 425 |
| Tax % | 23% | 16% | 21% | 36% | 36% | 16% | 16% | 21% | |
| 21 | 44 | 29 | 31 | 55 | 20 | 80 | 293 | 334 | |
| EPS in Rs | 298.68 | 615.26 | 382.62 | 2.22 | 3.11 | 1.13 | 4.48 | 15.21 | 17.31 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 48% | 133% | 34% | 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: | 40% |
| 1 Year: | 82% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 7% |
| 3 Years: | 7% |
| 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 | 1,320 | 2,769 |
| 101 | 90 | 62 | 138 | 256 | 502 | 539 | 272 | |
| 128 | 155 | 160 | 233 | 460 | 1,151 | 1,441 | 2,001 | |
| Total Liabilities | 286 | 347 | 460 | 915 | 2,172 | 3,095 | 3,478 | 5,235 |
| 86 | 86 | 81 | 114 | 248 | 474 | 495 | 878 | |
| CWIP | 0 | 0 | 0 | 40 | 25 | 10 | 55 | 34 |
| Investments | 0 | 0 | 89 | 404 | 461 | 678 | 676 | 1,065 |
| 200 | 260 | 290 | 356 | 1,438 | 1,933 | 2,251 | 3,259 | |
| Total Assets | 286 | 347 | 460 | 915 | 2,172 | 3,095 | 3,478 | 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 | 87 | 253 | |
| -22 | -26 | -95 | -387 | -861 | 14 | -46 | -711 | |
| 13 | -21 | 68 | 355 | 942 | 182 | -40 | 553 | |
| Net Cash Flow | 2 | 25 | -3 | -19 | 20 | 10 | 1 | 94 |
| Free Cash Flow | -12 | 42 | 18 | -58 | -156 | -445 | -15 | 119 |
| CFO/OP | 43% | 112% | 70% | 46% | -50% | -479% | 71% | 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 | 185 | 133 |
| Inventory Days | 106 | 110 | 100 | 95 | 147 | 158 | 95 | 100 |
| Days Payable | 152 | 172 | 149 | 123 | 150 | 245 | 271 | 202 |
| Cash Conversion Cycle | 57 | 45 | 58 | 69 | 71 | 53 | 10 | 31 |
| Working Capital Days | 1 | -4 | 38 | -17 | 11 | 0 | 0 | 101 |
| ROCE % | 38% | 17% | 11% | 9% | 3% | 6% | 16% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Auto 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)-Analyst / Investor Meet - Outcome
17h - Audio recording of July 30, 2026 conference call for Q1 FY27 unaudited results uploaded.
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
19h - Final IPO monitoring report for quarter ended June 30, 2026; proceeds fully utilized, no deviation.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
19h - Newspaper advertisement for unaudited (Standalone and Consolidated) financial results of the Company for quarter ended June 30, 2026
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
1d - Q1 FY27 revenue rose 67.1% to ₹16,037 Mn; PAT up 111.8%; CEO appointed, JV announced, rating upgraded.
- Announcement under Regulation 30 (LODR)-Investor Presentation 1d
Annual reports
Concalls
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Jul 2026TranscriptPPT 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.