Syrma SGS Technology Ltd
₹ 1,462
-2.86%
09 Nov
- close price
About
Incorporated in 2004, Syrma SGS Technology Ltd is a Chennai-based electronics manufacturing services (EMS) company providing engineering, design, and manufacturing solutions.[1]
Key Points
- Market Cap ₹ 28,192 Cr.
- Current Price ₹ 1,462
- High / Low ₹ 1,823 / 634
- Stock P/E 66.4
- Book Value ₹ 158
- Dividend Yield 0.10 %
- ROCE 16.8 %
- ROE 14.0 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 36.3% CAGR over last 5 years
Cons
- Stock is trading at 9.27 times its book value
- Promoter holding has decreased over last quarter: -0.56%
- Company has a low return on equity of 10.4% over last 3 years.
- Working capital days have increased from 46.9 days to 68.2 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
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 862 | 886 | 1,267 | 2,048 | 3,154 | 3,787 | 4,819 | 6,307 | |
| Sales growth | +3% | +43% | +62% | +54% | +20% | +27% | +62% | |
| 727 | 784 | 1,138 | 1,856 | 2,951 | 3,463 | 4,273 | 5,619 | |
| Operating Profit | 135 | 102 | 129 | 192 | 203 | 323 | 546 | 688 |
| OPM % | 16% | 11% | 10% | 9% | 6% | 9% | 11% | 11% |
| 13 | 18 | 18 | 44 | 56 | 47 | 31 | 42 | |
| Interest | 15 | 10 | 11 | 26 | 41 | 58 | 48 | 49 |
| Depreciation | 19 | 23 | 25 | 31 | 51 | 75 | 84 | 87 |
| Profit before tax | 113 | 87 | 111 | 179 | 166 | 237 | 445 | 595 |
| Tax % | 19% | 24% | 31% | 31% | 25% | 22% | 22% | |
| 92 | 69 | 79 | 123 | 124 | 184 | 346 | 459 | |
| EPS in Rs | 12.70 | 9.08 | 5.59 | 6.75 | 6.04 | 9.53 | 16.48 | 21.85 |
| Dividend Payout % | 0% | 0% | 0% | 22% | 25% | 16% | 9% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 40% |
| 3 Years: | 33% |
| TTM: | 62% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 36% |
| 3 Years: | 39% |
| TTM: | 85% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 40% |
| 1 Year: | 81% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 11% |
| 3 Years: | 10% |
| 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 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 138 | 177 | 177 | 178 | 193 | 193 |
| Reserves | 418 | 595 | 434 | 1,364 | 1,435 | 1,572 | 2,670 | 2,849 |
| 125 | 103 | 218 | 375 | 630 | 665 | 400 | 807 | |
| 238 | 258 | 364 | 628 | 1,446 | 1,788 | 2,504 | 3,226 | |
| Total Liabilities | 786 | 960 | 1,154 | 2,543 | 3,688 | 4,202 | 5,767 | 7,074 |
| 296 | 292 | 378 | 532 | 1,075 | 1,144 | 1,458 | 1,495 | |
| CWIP | 1 | 0 | 41 | 25 | 17 | 66 | 72 | 261 |
| Investments | 30 | 132 | 41 | 84 | 42 | 59 | 547 | 878 |
| 459 | 536 | 694 | 1,901 | 2,554 | 2,933 | 3,690 | 4,440 | |
| Total Assets | 786 | 960 | 1,154 | 2,543 | 3,688 | 4,202 | 5,767 | 7,074 |
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 | -736 | |
| -59 | 72 | 382 | 968 | 150 | -71 | 558 | |
| Net Cash Flow | 51 | -4 | -4 | 13 | 32 | 2 | 111 |
| Free Cash Flow | 108 | 18 | -103 | -188 | -446 | 4 | 114 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 131% | 58% | 13% | -16% | -27% | 73% | 69% |
Ratios
Consolidated / 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 | 193 | 199 |
| Cash Conversion Cycle | 60 | 83 | 99 | 95 | 76 | 52 | 48 |
| Working Capital Days | 20 | 51 | 30 | 42 | 36 | 37 | 68 |
| 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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| Export 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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| ODM Revenue ₹ Million |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- Earnings call transcript of the Investors conference call held for the unaudited financial results (Consolidated and Standalone) of the Company for the quarter and half …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015 (the 'Listing Regulations') for participating ....
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Management to attend investor meetings and roadshows on 16-18 Nov 2026 in Hong Kong, Mumbai and Singapore.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Management will attend investor meetings in Hong Kong, Mumbai and Singapore from 16-18 November 2026.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Audio recording of November 2, 2026 conference call for Q2 and half-year unaudited results uploaded.
Annual reports
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Annual Report 2026
from bse
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Annual Report 2025
from bse
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Annual Report 2024
from bse
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Annual Report 2023
from bse
Concalls
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Nov 2026Transcript PPT REC
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Aug 2026Transcript PPT REC
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Jun 2026Transcript PPT
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May 2026PPT
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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 2024PPT
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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 2023PPT
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Feb 2023Transcript PPT
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Nov 2022Transcript
Brief History:[1]
Syrma, a Tandon Group company, has been engaged in electronics manufacturing in India since the late 1970s, while SGS Tekniks, set up
in the early 1990s, focused on serving the auto motive customers in North India. Following the merger, Syrma SGS operates as an electronics manufacturing services (EMS) provider serving both global and Indian customers.