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Syrma SGS Technology Ltd (SYRMA)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543573 NSE: SYRMA Electronics - Components | Small Cap | Syrma SGS Technology Share Price

₹1,620.90 -47.50 (-2.85%)

As on 30-Oct'26 16:59

Syrma SGS Technology Ltd (SYRMA)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543573 NSE: SYRMA Electronics - Components | Small Cap | Syrma SGS Technology Share Price

₹1,620.90 -47.50 (-2.85%)

As on 30-Oct'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹31,256 Cr.
Current Price
₹1,620.9
52-Week Low / High
₹634 / 1,823
TTM EPS
₹21.9
TTM Sales
₹6,307 Cr.
Book Value per Share
₹157.7
P/E Ratio
74.19
Lower than its 5-year historical median
Industry PE
46.5
Price to Book (P/B)
10.28
Higher than its 5-year historical median
Price to Sales (P/S)
4.96
Lower than its 5-year historical median
EV/EBITDA
43.29
Lower than its 5-year historical median
Dividend Yield
0.09%
Profitability Efficiency
Return on Equity (ROE)
15.03%
Outperforms industry median
Return on Capital Employed (ROCE)
17.70%
Outperforms industry median
Return on Assets (ROA)
6.94%
Outperforms industry median
Operating Profit Margin
12%
Outperforms industry median
Net Profit Margin
7.18%
Outperforms industry median
Gross Profit Margin
11.1%
Outperforms industry median
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
20.78%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
68.41%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
87.48%
Asset Quality
Promoter Holding
41.63%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹2,849 Cr.
Equity
₹192.8 Cr.
Face Value
₹10
All Time Low / High
₹248.30 / 1823.00

Syrma SGS Technology stock performance

Key Ratios
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Quality

Somewhat Good
Check detailed performance

Valuation

Somewhat Overvalued

Check Valuation charts

Price Trend

Semi Strong
Check Price chart
Q.1 Is Syrma SGS Technology Ltd a good quality company?
Syrma SGS Technology Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

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We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

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How does Syrma SGS Technology Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Syrma SGS Technology Ltd vs industry peers?
Syrma SGS Technology Ltd revenue CAGR is 61.52%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Syrma SGS Technology Ltd?
Promoters hold 41.63% of the Syrma SGS Technology Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Syrma SGS Technology Ltd over the last decade?
Over the last 3 year(s), the stock has delivered a CAGR of 39.48% based on the current price.
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10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Syrma SGS Technology Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation ⓘ

Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ23.5%36.7%17.7%10.9%8.6%3%12.5%15%-
Value Creation
Index ⓘ		1.12.30.6-0.2-0.4-0.8-0.10.1-

Growth Parameters ⓘ
Sales ⓘ3543974386461,1361,8333,6164,3675,618
Sales YoY Gr.-12.2%10.4%47.5%75.7%61.4%97.2%20.8%-
Adj EPS ⓘ2.86.23.41.92.90.78.916.719.5
YoY Gr.-120%-44.5%-43.6%51.3%-75.3%1138.9%87.1%-
BVPS (₹) ⓘ8.114.331.539.3828196.7153.5162.8
Adj Net
Profit ⓘ		19.943.725.826.551.712.7159321377
Cash Flow from Ops. ⓘ1070.823.913.3-60.7-186145253-
Debt/CF from Ops. ⓘ9.41.22.410-4.1-2.741-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘNA58.4%56.7%20.8%
Adj EPS ⓘNA37.3%78.8%87.1%
BVPSⓘNA37.2%23.3%58.7%
Share Price - - 45.7% 99.1%

Key Financial Parameters ⓘ

Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ		34.75515.26.85.20.91013.712.4
Op. Profit
Mgn % ⓘ		11.917.511.297.21.97.9119.7
Net Profit
Mgn % ⓘ		5.6115.94.14.60.74.47.46.7
Debt to
Equity ⓘ		1.70.80.20.30.20.40.30.10
Working Cap
Days ⓘ		0200212182294332225232124
Cash Conv.
Cycle ⓘ		04757575356383843

Valuation of Syrma SGS Technology - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales3974381,0202,0483,1543,7874,819
Operating Expenses ⓘ + 3283909231,8572,9523,4634,275
Manufacturing Costs545699151204234286
Material Costs2272827191,5402,5072,9313,587
Employee Cost 24265594138178207
Other Costs ⓘ 23265171102120195
Operating Profit ⓘ 694897191202323545
Operating Profit Margin (%) 17.5%11.0%9.5%9.3%6.4%8.5%11.3%
Other Income ⓘ + 861244584938
Exceptional Items ⓘ -6000-1-2-5
Interest ⓘ 106926415848
Depreciation ⓘ 10121931517584
Profit Before Tax ⓘ 523681179166237445
Tax ⓘ 8827564253100
Profit After Tax 442954123124184346
PAT Margin (%) 11.1%6.5%5.3%6.0%3.9%4.9%7.2%
Adjusted EPS (₹)6.24.24.06.86.19.516.5
Dividend Payout Ratio (%)0%0%0%22.20%24.80%15.70%9.10%
PARTICULARSMar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 1022425691,5401,6081,7452,855
Share Capital ⓘ 0.700.75137.62176.78177.43178.05192.63
Reserves ⓘ 1012414311,3641,4311,5672,662
Debt +7749191343553583325
Long Term Debt2424487646239
Short Term Debt5324187256489521286
Minority Interest001136475203
Trade Payables1071152404891,2231,5481,959
Others Liabilities ⓘ 7883236290239251425
Total Liabilities ⓘ 3644881,2472,6653,6884,2025,767

Fixed Assets

Net Fixed Assets ⓘ +86813785321,0751,1441,458
Gross Block961034456271,2231,3631,800
Accumulated Depreciation10226894147218342
CWIP ⓘ 004125176672
Investments ⓘ 09241844259547
Inventories68772915871,0048221,062
Trade Receivables1161282724029301,4771,841
Cash Equivalents 3530375487296299
Others Assets ⓘ 5779187980533338489
Total Assets ⓘ 3644881,2472,6653,6884,2025,767
PARTICULARSMar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + 712415-70-109176290
PBT ⓘ 523681179166237445
Adjustment ⓘ 201423215993122
Changes in Working Capital ⓘ 5-16-66-230-281-93-189
Tax Paid ⓘ -7-10-23-40-54-61-89
Cash Flow From Investing Activity ⓘ + -29-94-394-886-28-105-742
Capex -29-6-84-118-337-173-175
Net Investments 0-891-77750361-352
Others ⓘ 00-3119-1947-215
Cash Flow From Financing Activity ⓘ + -2168359968150-71558
Net Proceeds from Shares ⓘ 03327287601975
Net Proceeds from Borrowing ⓘ -126-2783-3-0-25
Interest Paid ⓘ -8-5-6-19-36-51-41
Dividend Paid ⓘ 0000-27-27-29
Others ⓘ -034120282167-322
Net Cash Flow ⓘ 21-3-2012131105
PARTICULARSMar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)43.1416.6713.3711.687.91115.03
ROCE (%)33.3517.5216.8215.4110.1912.9917.7
Asset Turnover Ratio1.091.031.181.050.990.960.97
PAT to CFO Conversion(x)1.610.830.28-0.57-0.880.960.84
Working Capital Days
Receivable Days107101.7071.6060.1077.10116125.70
Inventory Days62.7060.5065.9078.3092.108871.30
Payable Days171.50143.4090.2086.50124.70172.50178.50

Top 5 Mutual Funds Holding

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Announcements

Annual reports

No annual reports available.

Concalls

No concalls available.

Syrma SGS Technology Ltd FAQs

The current trading price of Syrma SGS Technology on 30-Oct-2026 16:59 is ₹1,620.9.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 29-Oct-2026 the market cap of Syrma SGS Technology stood at ₹31,255.9 Cr

The latest P/E ratio of Syrma SGS Technology as of 29-Oct-2026 is 82.97.

The latest P/B ratio of Syrma SGS Technology as of 29-Oct-2026 is 9.96.

The 52-week high of Syrma SGS Technology is ₹1,823 and the 52-week low is ₹634.1.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Syrma SGS Technology is ₹5,618 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Syrma SGS Technology Ltd is a average quality company.

The key valuation ratios of Syrma SGS Technology Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Syrma SGS Technology Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Syrma SGS Technology Ltd

Syrma SGS Technology is a leading Indian Electronics System Design and Manufacturing (ESDM) company with decades of operating experience, focused on high-mix, flexible-volume manufacturing for high-margin, fast-growing industrial sectors. The operating model spans several verticals: Automotive & EV, Consumer Electronics, Healthcare & MedTech, Industrial Systems, IT, Railways, and a newly established Defence & Maritime division.

Syrma SGS Technology was incorporated as ‘Syrma Technology Private Limited’ pursuant to a certificate of incorporation dated August 23, 2004, issued by the Registrar of Companies, Maharashtra at Mumbai (RoC). Thereafter, pursuant to a resolution passed by Shareholders in the extraordinary general meeting held on August 28, 2021, the name of the company was changed from ‘Syrma Technology Private Limited’ to ‘Syrma SGS Technology Private Limited’, and consequently, a fresh certificate of incorporation dated September 14, 2021, was issued by the RoC to company. Thereafter, the Company was converted from a private limited company to a public limited company, pursuant to a resolution passed in the extraordinary general meeting of its Shareholders held on October 6, 2021, and the name of our Company was changed to Syrma SGS Technology Limited, and a fresh certificate of incorporation dated October 20, 2021, was issued to our Company by the RoC. 

Business area of the company

The company is engaged in the business of manufacturing various electronic sub-assemblies, assemblies and box builds, disk drives, memory modules, power supplies/ adapters, fiber optic assemblies, magnetic induction coils and Radio Frequency Identification (RFID) products and other electronic products. 

Key awards, accreditations or recognitions

  • 2013: Best SEZ (MSME: Computer Hardware) by Export Promotion Council for EOUs & SEZs at the EPCES Export Awards for 2010-11.
  • 2016: Third place in medium scale process under supervisor category at the 11th edition of CII Southern Region Kaizen Competition 2016.
  • 2018: First place in manufacturing sector medium scale in the 3rd edition of CII Southern Region Poka Yoke Competition 2018.
  • 2021: Certificate of merit in environment management (SME) for the year 2020-21 at the ELCINA awards.
  • 2021: 2nd prize in quality (SME) for the year 2020-21 at the 46th ELCINA awards.
  • 2021: 1st prize in business excellence (SME) for the year 2020-21 at the 46th ELCINA awards.
  • 2021: Certificate of appreciation for outstanding contribution in promotion of electronics (manufacturing IOT devices) awarded by the Ministry of Electronics and Information Technology
  • 2022: 1st place for Highest Employment in Electronics Hardware and Telecommunication at the Export Excellence Award 2019-20.
  • 2024: Syrma SGS Recognized as a Great Place to Work for the 3rd Consecutive Year.
  • 2024: ELCINA Awards for Outstanding Achievements in “Exports” for the year 2023-24.
  • 2025: Top Indian Manufacturer 2025 Award at the DeviceNext Summit.
  • 2025: Second Prize in Exports Category (Large) at ELCINA Awards 2024-25.
  • 2026: Second Position at ESC National Export Excellence Awards 2026.

Major events and milestones

  • 2006: Set up manufacturing unit in the MEPZ-SEZ, Chennai.
  • 2010: Set up manufacturing facility in Bargur.
  • 2012: Commenced manufacturing beacons for vehicles.
  • 2014: Set up first research & development department in India.
  • 2016: Commenced manufacturing RFID tags.
  • 2018: Set up manufacturing facility in Bawal.
  • 2018: Set up ‘zone of autonomous creation’ to support the provision of rapid prototyping services.
  • 2018: Set up another manufacturing unit in the MEPZ-SEZ, Chennai.
  • 2019: Commenced offering repair and rework services.
  • 2020: Commenced the manufacture of controllers of the EV battery management systems.
  • 2020: Investment in Company by South Asia Growth Fund II Holdings LLC and South Asia EBT Trust.
  • 2021: Acquired SGS Tekniks Manufacturing Private Limited.
  • 2021: Acquired 75% of the issued and paid up share capital of Perfect ID India Private Limited.
  • 2022: IPO listing in the Indian Stock Market.
  • 2023: Acquisition of Johari Digital Healthcare Limited (now SJML).
  • 2023: Merger of wholly owned subsidiaries SGS Tekniks and SGS Infosystems with Syrma SGS.
  • 2024: Domestic and Overseas expansion through campus facilities.
  • 2025: Commissioned the Pune Mega Facility, a 26.5-acre campus with a potential manufacturing capacity of 1.2 million sq. ft.
  • 2025: Expanded global footprint by setting up a new design and prototype facility in Stuttgart, Germany.
  • 2025: Established a dedicated MedTech Design Centre in Pune to accelerate innovation in healthcare electronics.
  • 2026: Syrma SGS Forms Joint Venture with Kaga Electronics.
  • 2026: Syrma SGS and Fukoku Tokai sign Agreement for Automotive Business Cooperation in India.
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