Syrma SGS Technology Ltd
₹ 984
-1.43%
23 Apr
- 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 ₹ 18,965 Cr.
- Current Price ₹ 984
- High / Low ₹ 1,032 / 437
- Stock P/E 76.8
- Book Value ₹ 145
- Dividend Yield 0.15 %
- ROCE 6.34 %
- ROE 4.54 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has been maintaining a healthy dividend payout of 71.5%
Cons
- Stock is trading at 6.80 times its book value
- Promoter holding has decreased over last quarter: -0.44%
- Company has a low return on equity of 3.63% over last 3 years.
- Company has high debtors of 185 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
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 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 354 | 397 | 438 | 646 | 1,136 | 1,833 | 2,278 | 3,621 | |
| 312 | 328 | 390 | 588 | 1,053 | 1,798 | 2,134 | 3,245 | |
| Operating Profit | 42 | 69 | 48 | 58 | 83 | 35 | 144 | 376 |
| OPM % | 12% | 17% | 11% | 9% | 7% | 2% | 6% | 10% |
| 3 | 2 | 6 | 8 | 37 | 51 | 44 | 45 | |
| Interest | 8 | 10 | 6 | 5 | 16 | 30 | 47 | 44 |
| Depreciation | 10 | 10 | 12 | 13 | 17 | 32 | 46 | 63 |
| Profit before tax | 27 | 52 | 36 | 48 | 86 | 24 | 95 | 313 |
| Tax % | 23% | 16% | 21% | 36% | 36% | 16% | 16% | |
| 21 | 44 | 29 | 31 | 55 | 20 | 80 | 245 | |
| EPS in Rs | 298.68 | 615.26 | 382.62 | 2.22 | 3.11 | 1.13 | 4.48 | 13.07 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 48% | 133% | 34% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 42% |
| 3 Years: | 52% |
| TTM: | 14% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 7% |
| 3 Years: | 30% |
| TTM: | 170% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 49% |
| 1 Year: | 89% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 4% |
| 3 Years: | 4% |
| Last Year: | 5% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.70 | 0.70 | 0.75 | 138 | 177 | 177 | 178 | 192 |
| Reserves | 56 | 101 | 237 | 406 | 1,278 | 1,264 | 1,320 | 2,596 |
| 101 | 90 | 61 | 138 | 256 | 502 | 539 | 271 | |
| 128 | 155 | 160 | 233 | 460 | 1,157 | 1,441 | 1,952 | |
| Total Liabilities | 286 | 347 | 460 | 915 | 2,172 | 3,101 | 3,478 | 5,011 |
| 86 | 86 | 81 | 114 | 248 | 474 | 495 | 789 | |
| CWIP | 0 | 0 | 0 | 40 | 25 | 10 | 55 | 73 |
| Investments | 0 | 0 | 89 | 404 | 461 | 678 | 676 | 410 |
| 200 | 260 | 290 | 356 | 1,438 | 1,939 | 2,251 | 3,739 | |
| Total Assets | 286 | 347 | 460 | 915 | 2,172 | 3,101 | 3,478 | 5,011 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 10 | 71 | 24 | 14 | -61 | -185 | 87 | |
| -22 | -26 | -95 | -387 | -861 | 15 | -46 | |
| 13 | -21 | 68 | 355 | 942 | 180 | -40 | |
| Net Cash Flow | 2 | 25 | -3 | -19 | 20 | 10 | 1 |
| Free Cash Flow | -12 | 42 | 18 | -58 | -156 | -444 | -15 |
| CFO/OP | 43% | 112% | 70% | 46% | -50% | -480% | 71% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 102 | 107 | 106 | 97 | 74 | 140 | 185 |
| Inventory Days | 106 | 110 | 100 | 95 | 147 | 158 | 95 |
| Days Payable | 152 | 172 | 149 | 123 | 150 | 245 | 271 |
| Cash Conversion Cycle | 57 | 45 | 58 | 69 | 71 | 53 | 10 |
| Working Capital Days | 1 | -4 | 38 | -17 | 11 | 0 | 0 |
| ROCE % | 38% | 17% | 11% | 9% | 3% | 6% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
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Documents
Announcements
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Update On Joint Venture Between Syrma SGS Technology Limited (Company), Syrma SGS Design And Manufacturing Private Limited (Jvco) And Elemaster S.P.A. Tecnologie Elettroniche (Elemaster) - Completion Of Transaction
14 Apr - On April 14, 2026, Syrma SGS acquired 60% of JVCo for Rs 32.70 crore; Elemaster holds 40%.
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Announcement Under Regulation 30 Update About Change Of Name Of JV Company
10 Apr - MCA approved JV company name change to Shinhyup Syrma Circuits Private Limited on April 10, 2026.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 2 Apr
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Rumour verification - Regulation 30(11)
1 Apr - Syrma JV with Shinhyup: INR 1,595–1,600 Cr PCB/CCL/EMS project; 26.7 acres allotted; groundwork started.
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Clarification sought from Syrma SGS Technology Ltd
1 Apr - Exchange has sought clarification from Syrma SGS Technology Ltd on April 01, 2026, with reference to news appeared in www.ndtvprofit.com dated March 30, 2026 quoting …
Annual reports
Concalls
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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.