Syrma SGS Technology Limited (SYRMA) AI Stock Analysis

• Market Cap: ₹140.09B
• Dividend Yield: 0.21%
• Average Volume (3M): 89.37K
• Price to Earnings (P/E): 64.7
• Beta (1Y): 1.43
• Revenue Growth: -3.83%
• EPS Growth: 103.23%
• Country: IN
• Employees: 1,321
• Sector: Technology
• Sector Strength: 86
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 2.80
• Shares Outstanding: 192,464,160
• 10 Day Avg. Volume: 44,298
• 30 Day Avg. Volume: 89,371
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹740.00
• Price Target Upside: 0.24% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 6

• Rating: 67 Neutral
• Price Target: ₹810.00 ▲(9.72% Upside)

Syrma SGS Technology Limited shows robust financial performance with strong growth and stable financial management, making it a significant contributor to the score. However, technical analysis suggests caution due to overbought conditions, and valuation metrics indicate potential overvaluation, which impacts the overall score.

Syrma SGS Technology Limited Business Overview & Revenue Model

Company Description

Syrma SGS Technology Limited (SYRMA) is an Indian-based technology company specializing in electronics manufacturing services and solutions. The company operates in sectors such as automotive, healthcare, consumer electronics, and industrial applications, providing a wide range of products including printed circuit boards (PCBs), magnetic products, RFID tags, and electromechanical assemblies. Syrma SGS Technology is known for its innovative approach and commitment to quality, catering to both domestic and international clients.

How the Company Makes Money

Syrma SGS Technology Limited makes money primarily through its electronics manufacturing services by providing design, development, and production solutions to various industries. The company earns revenue by manufacturing custom electronics components such as PCBs and RFID tags, which are integral to devices across sectors like automotive and healthcare. Significant revenue streams include contract manufacturing for original equipment manufacturers (OEMs) and offering end-to-end solutions that combine engineering and product lifecycle management. Key partnerships with global technology firms and a diverse client base contribute to its earnings, allowing the company to maintain a competitive edge in the electronics manufacturing market.

Syrma SGS Technology Limited Financial Statement Overview

Summary

Syrma SGS Technology Limited exhibits strong revenue and profit growth with effective cost management and market expansion. The balance sheet indicates stability with manageable leverage, but cash flow management needs improvement for sustainability.

Income Statement

Syrma SGS Technology Limited has demonstrated robust revenue growth, with a significant increase from 2024 to 2025. The gross profit margin and net profit margin reflect strong profitability, supported by a healthy EBIT margin. However, fluctuations in EBITDA margins suggest some volatility in operational efficiency.

Balance Sheet

The company maintains a reasonable debt-to-equity ratio, indicating prudent financial management. The return on equity has shown improvement over the years, aligning with the company's profitability growth. The equity ratio remains strong, suggesting a stable financial foundation, although an increase in total debt warrants monitoring.

Cash Flow

Free cash flow remains negative, indicating potential challenges in generating surplus cash after investments. However, the operating cash flow to net income ratio has improved, pointing towards better operational cash generation. The company should focus on enhancing free cash flow to support growth and investment activities.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	37.86B	37.87B	31.54B	20.10B	12.60B	8.77B
Gross Profit	7.35B	8.55B	4.53B	4.65B	3.58B	2.72B
EBITDA	3.46B	3.23B	2.58B	2.35B	1.09B	542.14M
Net Income	1.70B	1.70B	1.07B	1.19B	555.38M	630.09M
Balance Sheet
Total Assets	42.05B	42.05B	36.89B	25.41B	11.54B	9.07B
Cash, Cash Equivalents and Short-Term Investments	3.47B	3.47B	1.21B	1.25B	697.10M	1.07B
Total Debt	6.65B	6.65B	6.30B	3.75B	2.18B	1.03B
Total Liabilities	23.80B	23.80B	20.12B	9.98B	5.71B	3.64B
Stockholders Equity	17.50B	17.50B	16.13B	15.40B	5.72B	5.36B
Cash Flow
Free Cash Flow	0.00	-600.76M	-4.51B	-1.89B	-1.03B	177.32M
Operating Cash Flow	0.00	1.76B	-1.14B	-702.76M	-126.32M	371.14M
Investing Cash Flow	0.00	-1.05B	-281.80M	-9.14B	-3.99B	-1.12B
Financing Cash Flow	0.00	-706.98M	1.87B	9.97B	3.82B	715.62M

Syrma SGS Technology Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 738.25
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SYRMA, the sentiment is Positive. The current price of 738.25 is above the 20-day moving average (MA) of 724.76, above the 50-day MA of 668.85, and above the 200-day MA of 554.24, indicating a bullish trend. The MACD of 16.10 indicates Positive momentum. The RSI at 58.43 is Neutral, neither overbought nor oversold. The STOCH value of 75.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:SYRMA.

Syrma SGS Technology Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NETWEB	73 Outperform	₹129.88B	100.06		0.11%	59.90%	49.33%
TANLA	73 Outperform	₹82.25B	17.23		2.90%	1.18%	-12.67%
MASTEK	71 Outperform	₹78.19B	19.68		0.73%	13.04%	30.69%
LATENTVIEW	68 Neutral	₹87.82B	47.13		―	34.69%	12.48%
SYRMA	67 Neutral	₹140.09B	64.73		0.21%	-3.83%	103.23%
HAPPSTMNDS	66 Neutral	₹88.59B	45.73		1.06%	26.47%	-21.31%
Sector *	61 Neutral	$36.05B	6.66	-10.10%	1.86%	8.68%	-8.81%

Syrma SGS Technology Limited Corporate Events

Syrma SGS Technology Announces Passing of Subsidiary Chairman

Syrma SGS Technology Limited announced the passing of Mr. Satyendra Johari, the Chairman and Managing Director of its subsidiary, Syrma Johari Medtech Limited (formerly Johari Digital Healthcare Limited), on August 8, 2025. Mr. Johari, who was 77 years old and the founder of the subsidiary, leaves behind a legacy in the medtech industry. The board of Syrma Johari Medtech Limited will take necessary steps to ensure the continuity of operations, highlighting the company’s commitment to maintaining its business stability and honoring Mr. Johari’s contributions.

Syrma SGS Technology Launches ₹1,000 Crore QIP

Syrma SGS Technology Limited has announced the opening of a Qualified Institutions Placement (QIP) of equity shares, with each share having a face value of ₹10, amounting to a total of ₹1,000 crore. The board of directors and shareholders have approved the issue, which is set at a floor price of ₹735.61 per share, with a potential discount of up to 5%. This move is part of the company’s strategic financial initiatives, and the trading window for designated persons will be closed until 48 hours after the issue price is determined.

Syrma SGS Technology Initiates Qualified Institutions Placement

Syrma SGS Technology Limited has announced the opening of a Qualified Institutions Placement (QIP) of equity shares, with a floor price set at ₹735.61 per share. This strategic move, approved by the board and shareholders, aims to enhance the company’s capital base and strengthen its market position. The trading window for designated persons is closed to comply with insider trading regulations, ensuring transparency and adherence to SEBI guidelines.