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 ₹ 27,997 Cr.
- Current Price ₹ 1,452
- High / Low ₹ 1,518 / 634
- Stock P/E 87.2
- Book Value ₹ 148
- Dividend Yield 0.10 %
- ROCE 16.7 %
- ROE 13.9 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is expected to give good quarter
- Company has delivered good profit growth of 36.2% CAGR over last 5 years
Cons
- Stock is trading at 9.78 times its book value
- Promoter holding has decreased over last quarter: -0.44%
- Company has a low return on equity of 10.6% over last 3 years.
- Working capital days have increased from 59.8 days to 107 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 862 | 886 | 1,267 | 2,048 | 3,154 | 3,787 | 4,819 | |
| 727 | 784 | 1,138 | 1,856 | 2,951 | 3,463 | 4,275 | |
| Operating Profit | 135 | 102 | 129 | 192 | 203 | 323 | 545 |
| OPM % | 16% | 11% | 10% | 9% | 6% | 9% | 11% |
| 13 | 18 | 18 | 44 | 56 | 47 | 33 | |
| Interest | 15 | 10 | 11 | 26 | 41 | 58 | 48 |
| Depreciation | 19 | 23 | 25 | 31 | 51 | 75 | 84 |
| Profit before tax | 113 | 87 | 111 | 179 | 166 | 237 | 445 |
| Tax % | 19% | 24% | 31% | 31% | 25% | 22% | 22% |
| 92 | 69 | 79 | 123 | 124 | 184 | 346 | |
| EPS in Rs | 1,281.97 | 916.98 | 5.59 | 6.75 | 6.04 | 9.53 | 16.48 |
| Dividend Payout % | 0% | 0% | 0% | 22% | 25% | 16% | 9% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 40% |
| 3 Years: | 33% |
| TTM: | 27% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 36% |
| 3 Years: | 39% |
| TTM: | 102% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 44% |
| 1 Year: | 114% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 11% |
| 3 Years: | 11% |
| Last Year: | 14% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 138 | 177 | 177 | 178 | 193 |
| Reserves | 418 | 595 | 434 | 1,364 | 1,435 | 1,572 | 2,670 |
| 125 | 103 | 218 | 375 | 630 | 665 | 400 | |
| 238 | 258 | 364 | 628 | 1,446 | 1,788 | 2,508 | |
| Total Liabilities | 786 | 960 | 1,154 | 2,543 | 3,688 | 4,202 | 5,770 |
| 296 | 292 | 378 | 532 | 1,075 | 1,144 | 1,463 | |
| CWIP | 1 | 0 | 41 | 25 | 17 | 66 | 68 |
| Investments | 30 | 132 | 41 | 84 | 42 | 59 | 547 |
| 459 | 536 | 694 | 1,901 | 2,554 | 2,933 | 3,693 | |
| Total Assets | 786 | 960 | 1,154 | 2,543 | 3,688 | 4,202 | 5,770 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 156 | 37 | -13 | -70 | -109 | 176 | 290 | |
| -46 | -113 | -373 | -885 | -9 | -103 | -742 | |
| -59 | 72 | 382 | 968 | 150 | -71 | 558 | |
| Net Cash Flow | 51 | -4 | -4 | 13 | 32 | 2 | 105 |
| Free Cash Flow | 108 | 18 | -103 | -188 | -446 | 4 | 114 |
| CFO/OP | 131% | 58% | 13% | -16% | -27% | 73% | 70% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 76 | 86 | 78 | 72 | 108 | 142 | 139 |
| Inventory Days | 93 | 109 | 119 | 139 | 146 | 102 | 108 |
| Days Payable | 110 | 112 | 98 | 116 | 178 | 196 | 199 |
| Cash Conversion Cycle | 60 | 83 | 99 | 95 | 76 | 49 | 48 |
| Working Capital Days | 20 | 51 | 30 | 42 | 36 | 37 | 107 |
| ROCE % | 15% | 16% | 15% | 10% | 12% | 17% |
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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| Healthcare 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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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
7 Jul - Certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended June 30, 2026
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Announcement under Regulation 30 (LODR)-Change in Management
26 Jun - Syrma SGS appoints Jaidit Singh Brar as CEO from June 29, 2026; Satendra Singh becomes Senior Operating Director.
- Closure of Trading Window 26 Jun
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Announcement under Regulation 30 (LODR)-Joint Venture
22 Jun - Syrma SGS signs JV agreement with Kaga Electronics India for a new EMS facility; invests about Rs 15 crore.
- Announcement under Regulation 30 (LODR)-Investor Presentation 7 Jun
Annual reports
Concalls
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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.