Syrma SGS Technology Limited (SYRMA)

Capital Goods · Industrial Manufacturing · NSE · Updated 1 August 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹1,366.8 ↑ 80.79% (1Y)

🎯 Key Takeaways

Syrma SGS Technology Limited is in a high-growth phase driven by strong top-line expansion and margin improvement, transitioning from a turnaround to a scaling stage. Management is actively investing in capacity and leadership to capture demand across automotive, export, and emerging segments like MedTech and Maritime, supported by strategic JV and leadership changes.
Revenue grew 4.4% QoQ to ₹869 in Q3FY25.
⚠️ 1) Execution risk around integration of the PCB project and expansion into new segments like MedTech and Maritime, which are still emerging. 2) Potent

Market Cap

₹19,539

P/E Ratio

129.2

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Syrma SGS Technology Limited is in a high-growth phase driven by strong top-line expansion and margin improvement, transitioning from a turnaround to a scaling stage. Management is actively investing in capacity and leadership to capture demand across automotive, export, and emerging segments like MedTech and Maritime, supported by strategic JV and leadership changes.

📰 What's Happening

In Q1 FY27, the company reported consolidated revenue of ₹16,037 million, up 67.1% YoY, with PAT rising 111.8% YoY to ₹1,057 million, reflecting robust operational momentum. Management highlighted growth in automotive, consumer, export, MedTech, and Maritime segments, and announced a strategic JV with KAGA Electronics. The board re-appointed Sandeep Tandon as Executive Chairman and appointed Jaidit Singh Brar as new CEO, signaling leadership continuity and strategic execution focus. Additionally, CRISIL validated full utilization of IPO proceeds, confirming disciplined capital deployment across expansions and R&D.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	680	601	712	707	1,134	1,160	833	869
Operating Profit	81	59	57	51	89	60	81	99
OPM %	8.7%	6.1%	6.9%	5.5%	6.5%	3.8%	8.5%	9.1%
Net Profit	43	28	31	20	45	20	40	53
EPS	₹2.43	₹1.61	₹1.60	₹0.88	₹1.97	₹1.09	₹2.04	₹2.74

Revenue growth has accelerated significantly, with Q1 FY27 revenue up 67.1% YoY to ₹16,037 million, reversing earlier quarterly volatility seen in FY25 where revenue peaked at ₹1,160 million before declining to ₹869 million in Q3FY25. However, the latest results reflect a new growth inflection, supported by margin expansion — EBITDA margin improved to 11% from 10.7% YoY, and PAT margin rose to 6.6% from 5.2%. This turnaround in profitability aligns with management’s focus on scaling operations and improving operational efficiency across segments.

🔮 Management Outlook & What's Next

Management reaffirmed FY27 growth aspirations, targeting continued expansion in automotive, consumer, export, MedTech, and Maritime segments, with plans to scale the PCB project and deepen industrial and export reach. While no formal forward guidance was provided in the latest filing, the company emphasized confidence in sustaining momentum, supported by the new CEO’s industry expertise and strategic JV. The board also authorized up to ₹1,000 crores fundraising via QIP, pending shareholder approval at the upcoming AGM.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Industrial Manufacturing

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Mazagon Dock Shipbuilders Limited	1.00 L Cr	36.4	—	—	—
Cochin Shipyard Limited	41,948	52.5	—	—	—
Aditya Infotech Limited	29,029	146.0	—	—	—
Honeywell Automation India Limited	25,618	50.7	—	—	—
Kaynes Technology India Limited	21,933	80.1	—	—	—
Syrma SGS Technology Limited	19,539	129.2	—	—	—
Jyoti CNC Automation Limited	16,087	52.2	—	—	—
LMW Limited	15,556	128.8	—	—	—
Tega Industries Limited	11,910	56.2	—	—	—
Jupiter Wagons Limited	11,759	29.9	—	—	—

🔗 Peer Stock Analyses

MAZDOCK COCHINSHIP CPPLUS HONAUT KAYNES

⚠️ Risk Factors

1) Execution risk around integration of the PCB project and expansion into new segments like MedTech and Maritime, which are still emerging. 2) Potential dilution or over-leverage from the proposed ₹1,000 crore QIP, pending shareholder approval. 3) Competitive pressures in automotive and export markets as growth accelerates, which could pressure margins if capacity utilization falters.

📋 Recent Filings

🧠 Analyst's Read

Syrma SGS is transitioning from operational stabilization to scalable growth, underpinned by strong financial performance and strategic leadership changes. Investors should monitor the successful integration of new leadership and JV, progress on capacity expansion, and shareholder response to the fundraising and amalgamation plans at the upcoming AGM.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-08-01.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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