Arthneeti

Syrma SGS Technology Q1 FY27 Share Price & Earnings Call Analysis

₹1,669.00+6.78% today
Market cap
₹32,175 Cr
P/E
86.62
ROE
13.96%
PEG
2.19
Price to sales
5.89
Debt to equity
0.14
52W high / low
₹1,783 / ₹640
Sales growth (5Y)
40.32%
EBITDA margin
11.17%
Net profit margin
7.27%
Promoter holding
42.28%
Sales (last year)
₹5,464 Cr

Incorporated in 2004, Syrma SGS Technology Ltd is a Chennai-based electronics manufacturing services (EMS) company providing engineering, design, and manufacturing solutions.[1]

Guidance scorecard · Q1 FY27 call

What Syrma SGS Technology Ltd's management guided
and where it ranks in Industrial Manufacturing

#18of 56 in
Industrial Manufacturing
Revenue20–40%MarginsFlatCapexPlannedFundraisingPlannedOrder bookRising

RevenueQ1 FY27 call

20–40%
  • The company aims to sustain a 30%-35% revenue growth rate over the next 3 to 5 years, specifically for FY27-28 and FY28-29.
  • New global clients onboarded have potential to accelerate growth beyond this range, though large-scale contributions are expected from the third year of onboarding.
  • Exports grew by 40% last year and nearly 60% in Q1 FY27; expected to grow 30%-40% for the current year, reaching Rs. 1,500-1,600 crore.
  • Automotive, industrial, and MedTech sectors are key drivers for export growth; automotive, especially EV-related, is a cornerstone domestically.
  • Consumer business expected to remain around 30% of total revenue with quarterly aberrations.
  • Defense segment, recently acquired, is in early stages but anticipated to grow at 30%-35%.

2 more points from Syrma SGS Technology Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Syrma SGS Technology Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Current year CAPEX (ex PCB) expected around Rs. 100-150 crore; Rs. 40 crore incurred in Q1.
  • Capacity expansions ongoing in Bangalore (new facility) and Pune plants.
  • Additional capacity being set up for MedTech business in Jodhpur, including medical-grade plastics and SMT lines; expected growth opportunity from FY '27-'28.
  • PCB manufacturing project progressing on schedule, with Rs. 50 crore invested in the quarter and total initial phase CAPEX around Rs. 400 crore.
  • PCB project phase 1 expected to start commercial production by April 2027; phase 2 and 3 planned for late '27/early '28.
  • Funding for PCB project through internal accruals, government CAPEX incentives (50%), and around 50-60% debt.

2 more points from Syrma SGS Technology Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

See what Syrma SGS Technology Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Rising
  • As of June end, Syrma SGS Technology Limited has an overall order book visibility of approximately Rs. 6,770 crores.
  • Out of this, around Rs. 5,400 crores (approximately 80%) is expected to be executed in the next 12 months.
  • The remaining balance is scheduled beyond 12 months.
  • The average execution period for existing orders is around 10 to 10.5 months.
  • The company’s quarterly order intake shows an increasing trend, with a one-year and one-quarter intake of about Rs. 1,781 crores.

2 more points from Syrma SGS Technology Ltd's call on the order book

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Full Q1 FY27 analysis
Full Industrial Manufacturing ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Industrial Manufacturing
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Syrma SGS Technology Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Industrial Manufacturing companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 0–2%₹1,207 Cr111.0
240%+Up 0–2%₹549 Cr33.8
340%+Flat₹8,076 Cr94.4
440%+Flat₹3,732 Cr81.2
540%+Flat₹2,580 Cr61.2
640%+Flat₹743 Cr43.6

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Financials of Syrma SGS Technology Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Syrma SGS Technology Ltd

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +6806017127071,1431,1608338709249441,1461,2641,465
Expenses +6235646636671,0591,1157627908178571,0311,1051,291
Operating Profit573749398345718010887115159174
OPM %8%6%7%6%7%4%9%9%12%9%10%13%12%
Other Income +2422812715102022169711
Interest4881113141415161513813
Depreciation9101214161717202121222021
Profit before tax6841372761295164936790138150
Tax %37%31%17%25%26%31%22%17%23%26%26%20%21%
Net Profit +4328312045204053715066110119
EPS in Rs2.391.611.600.871.971.092.042.743.672.793.335.335.25

Financials of Syrma SGS Technology Ltd

Profit & Loss

Annual income statement trend

Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +8628861,2672,0483,1543,7874,819
Expenses +7277841,1381,8562,9513,4634,275
Operating Profit135102129192203323545
OPM %16%11%10%9%6%9%11%
Other Income +13181844564733
Interest15101126415848
Depreciation19232531517584
Profit before tax11387111179166237445
Tax %19%24%31%31%25%22%22%
Net Profit +926979123124184346
EPS in Rs1,281.97916.985.596.756.049.5316.48
Dividend Payout %0%0%0%22%25%16%9%

Financials of Syrma SGS Technology Ltd

Balance Sheet

Capital structure and asset base

Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital55138177177178192
Reserves4185954341,3641,4351,5722,617
Borrowings +125103218375630665332
Other Liabilities +2382583646281,4461,7882,069
Total Liabilities7869601,1542,5433,6884,2025,210
Fixed Assets +2962923785321,0751,1441,144
CWIP104125176677
Investments3013241844259144
Other Assets +4595366941,9012,5542,9333,844
Total Assets7869601,1542,5433,6884,2025,210

Financials of Syrma SGS Technology Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +15637-13-70-114176290
Cash from Investing Activity +-46-113-373-885-9-103-742
Cash from Financing Activity +-5972382968155-71558
Net Cash Flow51-4-413322105
Free Cash Flow10818-103-188-4514114
CFO/OP131%58%13%-16%-29%73%70%

Financials of Syrma SGS Technology Ltd

Ratios

Working capital efficiency and return ratios

Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days76867872108142
Inventory Days93109119139146102
Days Payable11011298116178196
Cash Conversion Cycle608399957649
Working Capital Days205130423637
ROCE %15%16%15%10%12%

Guidance history

How Syrma SGS Technology Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →20–40%FlatPlannedPlannedRising
Q4 FY26 call →20–40%Down 0–2%PlannedPlannedFlat
Q4 FY26 call →20–40%Down 0–2%PlannedPlannedFlat
Q3 FY26 call →20–40%FlatPlannedPlannedRising

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

92out of 100

Momentum score · price trend

92 out of 100 — Strengthening

Over the past year its share price has done better than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+104.3%94%
Last 6 months+74.0%94%
Last 3 months+21.1%87%
How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Syrma SGS Technology Ltd: 0.4 × 94 + 0.4 × 94 + 0.2 × 87 = 92.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Syrma SGS Technology Ltd's management said in earlier quarters

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