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Syrma SGS Technology Ltd
NSE:SYRMA

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Syrma SGS Technology Ltd
NSE:SYRMA
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Price: 754.05 INR -0.43%
Market Cap: 145.3B INR

Syrma SGS Technology Ltd
Investor Relations

Syrma SGS Technology Ltd. emerges as a formidable player within India's thriving electronics manufacturing landscape. Anchored in precision and innovation, the company stands out for its robust offering as an integrated electronic design and manufacturing services provider. By developing a broad spectrum of products encompassing industrial, consumer, and IT electronics, Syrma SGS demonstrates a strategic blueprint that aligns with the dynamic demands of the digital age. Their operations are streamlined to cover every aspect of electronic manufacturing—from design and product development through to production and testing. This holistic approach not only provides cost efficiency but also ensures that quality is maintained across the board, thereby raising the bar in an industry marked by intense competition and rapid technological advancements.

The financial engine of Syrma SGS is driven by its adeptness at harnessing technology to craft tailored solutions for a diverse clientele, including sectors such as automotive, healthcare, and telecommunications. Revenue flows from both high-volume orders and specialized, low-volume, high-margin projects, allowing the company to spread risk and stabilize earnings. In utilizing strategic manufacturing facilities across India, they leverage local expertise and resources to meet the precise requirements of global and regional clients. By fostering close partnerships with suppliers and customers alike, Syrma SGS thrives on creating symbiotic relationships that enhance innovation and accelerate time-to-market, ensuring a steady stream of income while solidifying its reputation as a reliable partner in the global electronics manufacturing ecosystem.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Nov 11, 2025
AI Summary
Q2 2026

Record Quarter: Syrma SGS delivered its highest-ever EBITDA, margins, and turnover in Q2 FY26, with strong year-on-year growth in revenues and profits.

Growth Guidance: Management reaffirmed organic revenue growth guidance of around 30% for FY26 and indicated EBITDA margin will exceed previous guidance of 8.5–9%, likely reaching above 9.5%.

Strategic Expansions: Four major tie-ups and acquisitions—including a 50% stake in Elcome (defense electronics), a JV with Elemaster (Italy), the PCB project, and collaboration with Ksolare (solar inverters)—are set to drive future growth and margin improvement.

Strong Order Book: Order book stands at INR 5,800 crores, with new customer wins and long-term contracts expected to add $100 million in annual revenue and $250 million over 2–3 years.

PCB Project Progress: PCB facility is on track with ECMS and state approvals; trial production expected by December 2026. Capex will be phased over the next few years.

Working Capital: Net working capital days increased to 73 but management targets reduction to below 65 days by year-end.

Cash Position: Syrma SGS has a net cash position of INR 477 crores despite negative operating cash flow in H1 due to inventory buildup.

Segment Performance: Significant growth in industrial, auto, and IT segments; exports grew 40% YoY in Q2.

Key Financials
Revenue
INR 1,146 crores
Revenue (Half Year)
INR 2,109 crores
Export Revenue
INR 270 crores
Export Revenue (Half Year)
INR 502 crores
Gross Margin
23.8%
Gross Margin (Half Year)
24.3%
Operating EBITDA
INR 116 crores
EBITDA Margin
10.1%
Operating EBITDA (Half Year)
INR 211 crores
PBT
INR 90 crores
PBT Margin
7.8%
PBT (Half Year)
INR 156.6 crores
PAT
INR 66.3 crores
PAT Margin
5.7%
PAT (Half Year)
INR 116 crores
PAT Margin (Half Year)
5.5%
Order Book
INR 5,800 crores
Net Working Capital Days
73 days
Gross Debt
INR 282 crores
Treasury Balance
INR 758 crores
Net Cash Position
INR 477 crores
Operating Cash Flow (Half Year)
-INR 115 crores
CapEx (Half Year)
INR 45 crores
Asset Turn
5.3x
ROCE
15%
Smart Meter Revenue
INR 50 crores
PLI Incentive (Full Year Guidance)
INR 24–25 crores
Other Earnings Calls

Management

Mr. Sandeep Tandon
Executive Chairman
No Bio Available
Mr. Bijay Kumar Agrawal
Chief Financial Officer
No Bio Available
Mr. Jasbir Singh Gujral
MD & Director
No Bio Available
Mr. Satendra Singh
Chief Executive Officer
No Bio Available
Mr. Ranjit Singh
Co-founder
No Bio Available
Ms. Komal Malik
Company Secretary & Compliance Officer
No Bio Available
Mr. Nelson Rajkumar
Chief People Officer
No Bio Available
Mr. Raghavendra R. Nagara
President of North
No Bio Available
Mr. Narayanan Gopalan Sreedharan
President of South
No Bio Available

Contacts

Address
TAMIL NADU
Chennai
Plot B27, Phase II, Zone B, MEPZ-SEZ, Sanatorium, Tambaram
Contacts
+914471728600
syrmasgs.com