Syrma SGS Technology Ltd

Syrma SGS Technology Ltd

₹ 820 -3.53%
28 Nov - close price
About

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]

Key Points

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

  • Market Cap 15,817 Cr.
  • Current Price 820
  • High / Low 910 / 355
  • Stock P/E 68.9
  • Book Value 146
  • Dividend Yield 0.18 %
  • ROCE 11.7 %
  • ROE 9.45 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 20.9%

Cons

  • Stock is trading at 5.62 times its book value
  • Promoter holding has decreased over last quarter: -3.45%
  • Company has a low return on equity of 8.92% over last 3 years.
  • Debtor days have increased from 107 to 142 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
467 513 680 601 712 707 1,143 1,160 833 870 924 944 1,146
420 466 623 564 663 667 1,059 1,115 762 790 817 857 1,031
Operating Profit 47 46 57 37 49 39 83 45 71 80 108 87 115
OPM % 10% 9% 8% 6% 7% 6% 7% 4% 9% 9% 12% 9% 10%
8 13 24 22 8 12 7 15 10 20 22 16 9
Interest 6 6 4 8 8 11 13 14 14 15 16 15 13
Depreciation 7 8 9 10 12 14 16 17 17 20 21 21 22
Profit before tax 42 45 68 41 37 27 61 29 51 64 93 67 90
Tax % 31% 24% 37% 31% 17% 25% 26% 31% 22% 17% 23% 26% 26%
29 34 43 28 31 20 45 20 40 53 71 50 66
EPS in Rs 1.60 1.88 2.39 1.61 1.60 0.87 1.97 1.09 2.04 2.74 3.67 2.79 3.33
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
862 886 1,267 2,048 3,154 3,787 3,884
727 784 1,138 1,856 2,951 3,463 3,495
Operating Profit 135 102 129 192 203 323 389
OPM % 16% 11% 10% 9% 6% 9% 10%
13 18 18 44 56 47 67
Interest 15 10 11 26 41 58 59
Depreciation 19 23 25 31 51 75 83
Profit before tax 113 87 111 179 166 237 314
Tax % 19% 24% 31% 31% 25% 22%
92 69 79 123 124 184 241
EPS in Rs 1,281.97 916.98 5.59 6.75 6.04 9.53 12.53
Dividend Payout % 0% 0% 0% 22% 25% 16%
Compounded Sales Growth
10 Years: %
5 Years: 34%
3 Years: 44%
TTM: 1%
Compounded Profit Growth
10 Years: %
5 Years: 12%
3 Years: 28%
TTM: 117%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 43%
1 Year: 45%
Return on Equity
10 Years: %
5 Years: 10%
3 Years: 9%
Last Year: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 5 5 138 177 177 178 192
Reserves 418 595 434 1,364 1,435 1,572 2,617
125 103 218 375 630 665 332
238 258 364 628 1,446 1,788 2,069
Total Liabilities 786 960 1,154 2,543 3,688 4,202 5,210
296 292 378 532 1,075 1,144 1,144
CWIP 1 0 41 25 17 66 77
Investments 30 132 41 84 42 59 144
459 536 694 1,901 2,554 2,933 3,844
Total Assets 786 960 1,154 2,543 3,688 4,202 5,210

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
156 37 -13 -70 -114 176
-46 -113 -373 -885 -9 -103
-59 72 382 968 155 -71
Net Cash Flow 51 -4 -4 13 32 2

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 76 86 78 72 108 142
Inventory Days 93 109 119 139 146 102
Days Payable 110 112 98 116 178 196
Cash Conversion Cycle 60 83 99 95 76 49
Working Capital Days 20 51 30 42 36 37
ROCE % 15% 16% 15% 10% 12%

Shareholding Pattern

Numbers in percentages

4 Recently
Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
47.27% 47.27% 47.27% 47.22% 46.89% 46.89% 46.89% 46.89% 46.58% 46.53% 46.43% 42.98%
4.93% 4.61% 9.27% 10.14% 11.13% 12.95% 10.44% 10.32% 8.49% 6.20% 6.34% 7.02%
7.57% 8.58% 9.24% 9.63% 8.21% 5.80% 6.45% 6.44% 7.46% 7.74% 9.15% 16.38%
40.21% 39.52% 34.24% 33.02% 33.78% 34.36% 36.22% 36.35% 37.38% 39.49% 38.04% 33.53%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.09% 0.06% 0.06% 0.08%
No. of Shareholders 1,01,36393,80081,72496,4521,05,0681,12,3951,24,9431,29,3981,34,5031,63,2961,61,0891,70,983

* 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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