Industrial Manufacturing
Valuation | |
|---|---|
| Market Cap | 16.75 kCr |
| Price/Earnings (Trailing) | 56.99 |
| Price/Sales (Trailing) | 3.88 |
| EV/EBITDA | 31.99 |
| Price/Free Cashflow | -234.01 |
| MarketCap/EBT | 43.13 |
| Enterprise Value | 16.72 kCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | 14.1% |
| Price Change 1M | 15.9% |
| Price Change 6M | 23.6% |
| Price Change 1Y | 61.7% |
| 3Y Cumulative Return | 48% |
Cash Flow & Liquidity | |
|---|---|
| Cash Flow from Investing (TTM) | -105.15 Cr |
| Cash Flow from Operations (TTM) |
| Revenue (TTM) |
| 4.32 kCr |
| Rev. Growth (Yr) | 43% |
| Earnings (TTM) | 298.02 Cr |
| Earnings Growth (Yr) | 108.1% |
Profitability | |
|---|---|
| Operating Margin | 9% |
| EBT Margin | 9% |
| Return on Equity | 10.32% |
| Return on Assets | 5.72% |
| Free Cashflow Yield | -0.43% |
| Cash Flow from Financing (TTM) | -70.7 Cr |
| Cash & Equivalents | 311.35 Cr |
| Free Cash Flow (TTM) | -60.08 Cr |
| Free Cash Flow/Share (TTM) | -3.37 |
Balance Sheet | |
|---|---|
| Total Assets | 5.21 kCr |
| Total Liabilities | 2.32 kCr |
| Shareholder Equity | 2.89 kCr |
| Current Assets | 3.9 kCr |
| Current Liabilities | 2.17 kCr |
| Net PPE | 802.08 Cr |
| Inventory | 879.51 Cr |
| Goodwill | 322.1 Cr |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.05 |
| Debt/Equity | 0.1 |
| Interest Coverage | 6.63 |
| Interest/Cashflow Ops | 3.96 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 1.5 |
| Dividend Yield | 0.17% |
| Shares Dilution (1Y) | 8.2% |
| Shares Dilution (3Y) | 9.1% |
Insider Trading: There's significant insider buying recently.
Momentum: Stock price has a strong positive momentum. Stock is up 15.9% in last 30 days.
Balance Sheet: Strong Balance Sheet.
Size: Market Cap wise it is among the top 20% companies of india.
Past Returns: Outperforming stock! In past three years, the stock has provided 48% return compared to 13.2% by NIFTY 50.
Smart Money: Smart money looks to be reducing their stake in the stock.
Insider Trading: There's significant insider buying recently.
Momentum: Stock price has a strong positive momentum. Stock is up 15.9% in last 30 days.
Balance Sheet: Strong Balance Sheet.
Size: Market Cap wise it is among the top 20% companies of india.
Past Returns: Outperforming stock! In past three years, the stock has provided 48% return compared to 13.2% by NIFTY 50.
Smart Money: Smart money looks to be reducing their stake in the stock.
Investor Care | |
|---|---|
| Dividend Yield | 0.17% |
| Dividend/Share (TTM) | 1.5 |
| Shares Dilution (1Y) | 8.2% |
| Earnings/Share (TTM) | 15.24 |
Financial Health | |
|---|---|
| Current Ratio | 1.8 |
| Debt/Equity | 0.1 |
Technical Indicators | |
|---|---|
| RSI (14d) | 75.28 |
| RSI (5d) | 100 |
| RSI (21d) | 65.96 |
| MACD Signal | Buy |
| Stochastic Oscillator Signal | Sell |
| SharesGuru Signal | Buy |
| RSI Signal | Sell |
| RSI5 Signal | Sell |
| RSI21 Signal | Hold |
| SMA 5 Signal | Buy |
| SMA 10 Signal |
Summary of Syrma SGS Technology's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Management's outlook for Syrma SGS Technology Limited is optimistic, highlighting a robust performance across various sectors and expectations for continued growth. Key forward-looking points include:
Sales Growth: In Q3 FY '26, sales increased by 45% compared to Q3 FY '25, reaching INR 1,274 crores. Management has set a target to achieve approximately INR 4,900-5,000 crores in revenue for the financial year ending March 2026, implying a growth of 30% year-over-year.
Export Growth: Exports surged by 66% year-over-year in Q3 FY '26, totaling INR 335 crores. Over the first nine months, exports reached INR 837 crores, a 45% increase from the previous year. Management anticipates crossing INR 1,000-1,100 crores in exports in FY '27.
EBITDA Growth: EBITDA for Q3 doubled, growing 101% to INR 159 crores. Management expects to exceed the previously revised target of INR 500 crores in EBITDA for FY '26, representing a growth of 55-57% versus the prior year's guidance of 30%.
Sector Performance: Growth across all verticals was robust: automotive (30%), healthcare (31%), and industrial (29%), indicating a balanced performance across sectors.
New Projects: The PCB project is on track, with initial construction expected to complete by mid-2026, aiming for trial production by December 2026. Capex is estimated at INR 360-400 crores for the project in the initial phase.
Defence Sector: The acquisition of Elcome is projected to contribute INR 280-300 crores in revenue, with high margins of 20-25%, enhancing the overall revenue profile.
Challenges: The management acknowledged tariff uncertainties, especially concerning the U.S. market, but remains hopeful for resolution, which would positively impact export dynamics.
In summary, Syrma SGS Technology Limited is strategically positioned for sustained growth across verticals, with strong export expectations and enhanced EBITDA targets while navigating potential challenges in tariffs and global market dynamics.
Understand Syrma SGS Technology ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| Tancom Electronics Private Limited | 32.84% |
| Jasbir Singh Gujral | 6.48% |
| Krishna Kumar Pant | 6.37% |
| Ranjeet Singh Lonial | 6.23% |
| Sanjiv Narayan | 4.74% |
| Franklin India Small Cap Fund | 4.38% |
| Modern Die Casting Llp | 2.76% |
Detailed comparison of Syrma SGS Technology against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| DIXON | Dixon Tech (India) | 69.8 kCr | 49.29 kCr | -2.30% | -21.50% | 38.25 | 1.42 | - | - |
| HONAUT | Honeywell Automation India | 28.25 kCr | 4.79 kCr |
Comprehensive comparison against sector averages
SYRMA metrics compared to Industrial
| Category | SYRMA | Industrial |
|---|---|---|
| PE | 56.99 | 41.62 |
| PS | 3.88 | 3.22 |
| Growth | 6.3 % | 9.3 % |
Syrma SGS Technology Limited provides turnkey electronic manufacturing services in India, the United States, Germany, and internationally. The company offers product engineering services, that includes design and development, and verification and validation; phototype manufacturing and platform/ system integration; and original design and manufacturing services. Its product portfolio comprises printed circuit board assemblies; box build, electromechanical assembly, and full-systems integration services, that includes firmware, software loading, validation, testing, and commercial or custom packing, as well as offers products, such as scanning antenna, transceiver, transponder, disk drives, memory modules, power supplies / adapters, fiber optic assemblies, magnetic induction coils and RFID products, and other electronic products, as well as line tester development services. In addition, the company provides custom magnetic services, including brushless DC motor module for fan consists of brushless DC motor, driver circuit, and control system; electro-mechanicals; critical communication solutions; RFID tags and inlays; and magnetic products comprising custom magnetic chokes, magnetic inductors, and magnetic transformers. It serves automotive, consumer, industrial, healthcare, railways, and IT industries. Syrma SGS Technology Limited was founded in 1978 and is based in Chennai, India.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| Buy |
| SMA 20 Signal | Buy |
| SMA 50 Signal | Buy |
| SMA 100 Signal | Buy |
SYRMA vs Industrial (2023 - 2026)
Q: "Can you talk on the consumer side, what is leading this kind of growth because we have focused on high-value, high-margin business for consumer?"
A: Our consumer segment grew approximately INR390 crores, driven mainly by the telecom business, including set-top boxes and GPON solutions. Additionally, our ODM business related to water purification and RFID tags has also contributed. We're maintaining our target of 30-31% revenue from consumer, which we believe is crucial for the business diversity.
Q: "Can you help us get there because that's a pretty sequenced strong year-over-year acceleration that's required?"
A: We are confident in achieving sequential growth beyond INR1,600 crores, reaching INR4,850-5,000 crores for Q4. While Elcome contributes INR100-120 crores, the broader business performance indicates we'll meet our EBITDA target of INR500 crores, marking a 58% increase year-over-year.
Q: "Can you provide some geographical indication from where you are getting growth?"
A: For our nine months, approximately 5% of our exports were to the U.S., while 35% went to Europe. Industrial exports predominantly target Europe, while med-tech exports mainly reach the U.S. Our goal remains to enhance growth in these regions effectively.
Q: "What is the current net working capital?"
A: Our net working capital days stand at 76 days, including Elcome's contributions. Excluding it, we manage 68 days, showing operational efficiency. We aim to reduce this further by 3-5 days in the next 2-3 quarters, fostering better cash flow management.
Q: "What is the capex that we are looking at for FY '27 and '28?"
A: Our organic capex for normal operations will be around INR80-100 crores annually. For special projects like PCB, we estimate INR300-350 crores. We are carefully financing our PCB project with 50% equity funding, expecting to also receive government subsidies.
| Tata Aia Life Insurance Co Ltd Unit Linked Multi Cap Fund | 2.66% |
| Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Small Cap Fund | 1.65% |
| Hdfc Life Insurance Company Limited | 1.54% |
| Veena Kumari Tandon | 0.64% |
| Manoharlal Tandon | 0% |
| Sandeep Tandon | 0% |
| Gauri Tandon | 0% |
| Sudeep Tandon | 0% |
| Pawan Kumar Chopra | 0% |
| Armaan Tandon | 0% |
| Sukhbir Kaur Gujral | 0% |
| JBS Gujral | 0% |
| Kanwal Nayar | 0% |
Distribution across major stakeholders
Distribution across major institutional holders
| -6.30% |
| -16.40% |
| 55.92 |
| 5.89 |
| - |
| - |
| KAYNES | KAYNES TECHNOLOGY INDIA | 24.8 kCr | 3.5 kCr | -3.40% | -13.80% | 62.03 | 7.08 | - | - |
| AMBER | Amber Enterprises India | 23.34 kCr | 11.06 kCr | -0.10% | -4.50% | 100.24 | 2.11 | - | - |
| AVALON | Avalon Tech | 6.87 kCr | 1.49 kCr | +10.60% | +40.40% | 71.22 | 4.62 | - | - |
| 1,133 |
| 1,065 |
| 893 |
| 826 |
| 792 |
| 1,146 |
| Profit Before exceptional items and Tax | 58.4% | 142 | 90 | 67 | 66 | 51 | 29 |
| Exceptional items before tax | - | -3.38 | 0 | 0 | -2.14 | 0 | 0 |
| Total profit before tax | 53.9% | 138 | 90 | 67 | 64 | 51 | 29 |
| Current tax | 17.4% | 28 | 24 | 18 | 9.38 | 12 | 9.44 |
| Deferred tax | -3% | -0.38 | -0.34 | -1.06 | 1.14 | -0.65 | -0.3 |
| Total tax | 22.7% | 28 | 23 | 17 | 11 | 11 | 9.14 |
| Total profit (loss) for period | 67.7% | 110 | 66 | 50 | 53 | 40 | 20 |
| Other comp. income net of taxes | -168.7% | 0.43 | 1.83 | 0.63 | -1.25 | 0.81 | -1.55 |
| Total Comprehensive Income | 64.2% | 111 | 68 | 51 | 52 | 40 | 19 |
| Earnings Per Share, Basic | 77.5% | 5.33 | 3.44 | 2.79 | 2.74 | 2.04 | 1.09 |
| Earnings Per Share, Diluted | 78.2% | 5.33 | 3.43 | 2.79 | 2.74 | 2.03 | 1.08 |
| 46 |
| 32 |
| 17 |
| Other expenses | 11.7% | 201 | 180 | 131 |
| Total Expenses | 19.6% | 2,226 | 1,861 | 1,086 |
| Profit Before exceptional items and Tax | 300% | 97 | 25 | 86 |
| Exceptional items before tax | -27.7% | -2 | -1.35 | 0 |
| Total profit before tax | 308.7% | 95 | 24 | 86 |
| Current tax | 380.8% | 16 | 4.12 | 24 |
| Deferred tax | -41.6% | -0.77 | -0.25 | 7.76 |
| Total tax | 422.6% | 16 | 3.87 | 31 |
| Total profit (loss) for period | 315.8% | 80 | 20 | 55 |
| Other comp. income net of taxes | -463.3% | -2.38 | 0.4 | 1.44 |
| Total Comprehensive Income | 300% | 77 | 20 | 56 |
| Earnings Per Share, Basic | 2556.5% | 4.48 | 1.131 | 3.39 |
| Earnings Per Share, Diluted | 2721.1% | 4.47 | 1.123 | 3.35 |
| 41.2% |
| 73 |
| 52 |
| 33 |
| 3.97 |
| 19 |
| 20 |
| Investment property | - | - | 0 | 79 | 0 | 4.19 | 0 |
| Goodwill | - | 109 | 0 | 0 | 0 | 0 | 0 |
| Non-current investments | -54.4% | 309 | 676 | 678 | 678 | 677 | 427 |
| Loans, non-current | 10.4% | 75 | 68 | 40 | 30 | 16 | 3.33 |
| Total non-current financial assets | -48.3% | 394 | 761 | 723 | 996 | 1,126 | 1,175 |
| Total non-current assets | -3.6% | 1,272 | 1,319 | 1,300 | 1,496 | 1,503 | 1,449 |
| Total assets | 44.1% | 5,011 | 3,478 | 3,309 | 3,101 | 2,408 | 2,170 |
| Borrowings, non-current | -37.1% | 23 | 36 | 48 | 64 | 88 | 86 |
| Total non-current financial liabilities | 7.8% | 70 | 65 | 71 | 86 | 109 | 86 |
| Provisions, non-current | 150% | 16 | 7 | 8.91 | 6.25 | 7.16 | 4.85 |
| Total non-current liabilities | 34.2% | 103 | 77 | 88 | 102 | 123 | 99 |
| Borrowings, current | -55.7% | 220 | 495 | 485 | 432 | 264 | 165 |
| Total current financial liabilities | 10.4% | 2,077 | 1,881 | 1,746 | 1,508 | 784 | 562 |
| Provisions, current | 69.3% | 3.98 | 2.76 | 1.33 | 1.96 | 2.05 | 3.02 |
| Current tax liabilities | 377.5% | 18 | 4.56 | - | 0 | 4.34 | 5.94 |
| Total current liabilities | 11.4% | 2,120 | 1,903 | 1,785 | 1,557 | 839 | 616 |
| Total liabilities | 12.3% | 2,223 | 1,980 | 1,874 | 1,660 | 962 | 715 |
| Equity share capital | 7.9% | 192 | 178 | 177 | 177 | 177 | 177 |
| Total equity | 86.2% | 2,788 | 1,498 | 1,436 | 1,442 | 1,445 | 1,455 |
| Total equity and liabilities | 44.1% | 5,011 | 3,478 | 3,309 | 3,101 | 2,408 | 2,170 |
| - |
| Purchase of intangible assets | -42.4% |
| Interest received | -57.1% |
| Other inflows (outflows) of cash | -91.9% |
| Net Cashflows From Investing Activities | -465.8% |
| Proceeds from changes in ownership interests in subsidiaries | -1% |
| Payments from changes in ownership interests in subsidiaries | -114.3% |
| Proceeds from issuing other equity instruments | - |
| Payments to acquire or redeem entity's shares | - |
| Proceeds from exercise of stock options | - |
| Proceeds from borrowings | -76.4% |
| Repayments of borrowings | 1304.5% |
| Payments of lease liabilities | 60.1% |
| Dividends paid | 0% |
| Interest paid | 75% |
| Other inflows (outflows) of cash | - |
| Net Cashflows from Financing Activities | -122.5% |
| Effect of exchange rate on cash eq. | 45.3% |
| Net change in cash and cash eq. | -103% |