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Syrma SGS Technology Limited (IN:SYRMA)
:SYRMA
India Market

Syrma SGS Technology Limited (SYRMA) AI Stock Analysis

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IN:SYRMA

Syrma SGS Technology Limited

(SYRMA)

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Neutral 66 (OpenAI - 4o)
Rating:66Neutral
Price Target:
₹857.00
▲(16.01% Upside)
Syrma SGS Technology Limited's strong financial performance is the primary driver of its stock score, supported by robust revenue and profit growth. However, technical indicators suggest bearish momentum, and the high P/E ratio indicates overvaluation, which negatively impacts the overall score.
Positive Factors
Revenue Growth
Consistent revenue growth indicates strong market demand and effective business strategies, supporting long-term financial stability.
Profitability
Strong profitability margins suggest efficient cost management and pricing power, enhancing competitive positioning and financial resilience.
Market Presence
An expanding market presence indicates successful penetration and growth in key sectors, ensuring sustained revenue streams and competitive advantage.
Negative Factors
Cash Flow Challenges
Negative free cash flow can hinder the company's ability to fund growth initiatives and manage financial obligations, impacting long-term sustainability.
Debt Levels
Rising debt levels may increase financial risk and limit flexibility, potentially affecting the company's ability to invest in future opportunities.
EBITDA Margin Volatility
Volatile EBITDA margins can indicate inconsistent operational performance, which may affect profitability and strategic planning.

Syrma SGS Technology Limited (SYRMA) vs. iShares MSCI India ETF (INDA)

Syrma SGS Technology Limited Business Overview & Revenue Model

Company DescriptionSyrma SGS Technology Limited provides turnkey electronic manufacturing services in India and internationally. The company offers value-added, and integrated design and manufacturing solutions, including value engineering, tool designing, mold development, test set up conceptualization, and development for original equipment manufacturers. Its product portfolio comprises printed circuit board assemblies; radio frequency identification products; electromagnetic and electromechanical parts, including chokes, inductors, magnetic filters, and transformers; and other products, such as motherboards, DRAM modules, solid state drives, USB drives, and other memory products. The company also provides electronic sub-assemblies, assemblies and box builds, disk drives, power supplies/adapters, and fiber optic assemblies; and quick prototyping, and repair and rework services. It serves the automotive, healthcare, IT, industrial appliances, energy management, water purification, power supply, and consumer products industries. The company was founded in 1978 and is based in Chennai, India.
How the Company Makes MoneySyrma SGS Technology Limited generates revenue through several key streams within the electronic manufacturing services sector. The primary revenue source is derived from contract manufacturing, where the company partners with businesses to produce electronic components and products based on specific requirements. Additionally, SYRMA earns revenue from value-added services such as product design, engineering support, and supply chain management. Significant partnerships with major players in various industries, including automotive and consumer electronics, enhance their market presence and contribute to steady income. The company's earnings are also bolstered by long-term contracts and repeat business from established clients, ensuring a consistent revenue flow.

Syrma SGS Technology Limited Financial Statement Overview

Summary
Syrma SGS Technology Limited exhibits solid revenue and profit growth, driven by effective cost management and expanding market presence. The balance sheet displays stability with manageable leverage, while cash flow management requires attention to ensure sustainable growth. Overall, the financial health is strong, with opportunities for improvement in cash flow generation.
Income Statement
85
Very Positive
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
78
Positive
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
72
Positive
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.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue35.71B37.87B31.54B20.48B10.20B4.38B
Gross Profit8.98B8.09B6.29B4.93B2.94B1.52B
EBITDA3.43B2.86B1.94B1.82B921.25M451.93M
Net Income2.00B1.70B1.07B1.19B555.38M320.17M
Balance Sheet
Total Assets0.0042.05B36.89B25.41B11.54B9.07B
Cash, Cash Equivalents and Short-Term Investments3.47B3.47B1.14B1.25B697.10M1.07B
Total Debt0.006.65B6.30B3.75B2.18B1.03B
Total Liabilities-18.25B23.80B20.12B9.98B5.71B3.64B
Stockholders Equity18.25B17.50B16.13B15.40B5.72B2.42B
Cash Flow
Free Cash Flow0.00-600.76M-4.51B-1.89B-1.03B177.32M
Operating Cash Flow0.001.76B-1.14B-702.76M-126.32M371.14M
Investing Cash Flow0.00-1.05B-281.80M-9.14B-3.99B-1.12B
Financing Cash Flow0.00-706.98M1.50B9.97B3.82B715.62M

Syrma SGS Technology Limited Technical Analysis

Technical Analysis Sentiment
Negative
Last Price738.75
Price Trends
50DMA
811.74
Negative
100DMA
787.75
Negative
200DMA
649.97
Positive
Market Momentum
MACD
-24.80
Positive
RSI
36.73
Neutral
STOCH
16.60
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SYRMA, the sentiment is Negative. The current price of 738.75 is below the 20-day moving average (MA) of 808.26, below the 50-day MA of 811.74, and above the 200-day MA of 649.97, indicating a neutral trend. The MACD of -24.80 indicates Positive momentum. The RSI at 36.73 is Neutral, neither overbought nor oversold. The STOCH value of 16.60 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SYRMA.

Syrma SGS Technology Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
74
Outperform
₹101.21B53.5131.50%11.32%
66
Neutral
₹150.99B69.730.20%1.30%111.88%
65
Neutral
₹66.26B18.101.61%11.91%-1.02%
65
Neutral
₹82.42B17.383.24%3.31%-11.27%
62
Neutral
₹77.16B38.941.28%21.31%-16.27%
61
Neutral
$37.18B12.37-10.20%1.83%8.50%-7.62%
59
Neutral
₹205.76B151.990.08%47.18%38.90%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
IN:SYRMA
Syrma SGS Technology Limited
738.75
132.27
21.81%
IN:HAPPSTMNDS
Happiest Minds Technologies Ltd.
490.55
-244.83
-33.29%
IN:LATENTVIEW
Latent View Analytics Limited
494.00
-7.35
-1.47%
IN:MASTEK
Mastek Limited
2,173.00
-1,044.56
-32.46%
IN:NETWEB
Netweb Technologies India Limited
3,201.30
346.61
12.14%
IN:TANLA
Tanla Platforms Ltd
555.05
-125.09
-18.39%

Syrma SGS Technology Limited Corporate Events

Syrma SGS Launches New PCB Manufacturing Plant in Andhra Pradesh
Dec 1, 2025

Syrma SGS Technology Limited has commenced the construction of a new PCB manufacturing facility in Andhra Pradesh, marking a significant step in its expansion strategy. This facility, developed through a joint venture with South Korea’s Shinhyup Electronics, is expected to create over 1,000 jobs and enhance India’s electronics manufacturing ecosystem. The collaboration aims to combine Shinhyup’s engineering expertise with India’s manufacturing capabilities, positioning Syrma SGS as a key player in the high-growth electronics sector.

Syrma SGS Technology Limited Discusses Q2 FY ’26 Financial Results
Nov 15, 2025

Syrma SGS Technology Limited held an earnings call to discuss its unaudited financial results for the quarter and half-year ending September 30, 2025. The conference call, which was accessible on the company’s website, provided insights into the company’s financial performance, potentially impacting its market positioning and stakeholder interests.

Syrma SGS Technology Expands with Key Acquisitions
Nov 10, 2025

Syrma SGS Technology Limited has announced the acquisition of Elcome Integrated Systems Private Limited and Navicom Technology International Private Limited. The acquisition involves Syrma acquiring 60% of Elcome’s share capital in the first tranche for INR 235 crore, with Elcome subsequently acquiring Navicom. This strategic move is expected to enhance Syrma’s capabilities in the manufacturing of defense and maritime equipment, potentially strengthening its market position and expanding its operational scope.

Syrma SGS Technology Secures Compliance Certificate for Q3 2025
Oct 7, 2025

Syrma SGS Technology Limited has announced that it has received a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ending September 30, 2025. The company confirmed that this regulation is not applicable to them as all their shares are held in dematerialized form, and no rematerialization requests were received during the specified period. This announcement underscores the company’s adherence to regulatory standards and reflects its operational compliance, which is crucial for maintaining stakeholder trust and confidence.

Syrma SGS Technology Secures Shareholder Approval for Key Resolutions at AGM
Sep 27, 2025

Syrma SGS Technology Limited announced the successful conclusion of its 21st Annual General Meeting, where all resolutions proposed were approved by the shareholders with the requisite majority. The resolutions included adopting financial statements, declaring dividends, appointing directors, and approving remuneration for auditors. Additionally, the company plans to raise funds through the issuance of shares or securities to qualified institutional investors, indicating a strategic move to bolster its financial position and expand its market presence.

Syrma SGS Technology Limited Concludes 21st Annual General Meeting
Sep 26, 2025

Syrma SGS Technology Limited held its 21st Annual General Meeting on September 26, 2025, via video conferencing in compliance with regulatory guidelines. The meeting was attended by key company executives and auditors, and it provided an overview of the company’s business and financial performance for the fiscal year 2024-25. The AGM included discussions on various resolutions, and the necessary statutory documents were made available for inspection. The meeting concluded with no adverse remarks from the auditors on the financial statements.

Syrma SGS Technology Announces Board Changes
Sep 26, 2025

Syrma SGS Technology Limited announced a change in its board of directors during its 21st Annual General Meeting. Mr. Sudeep Tandon has been appointed as a Non-Executive Non-Independent Director, replacing Mr. Jaideep Tandon, who retired and chose not to seek reappointment. This change is part of the company’s ongoing governance and leadership strategy, potentially impacting its future direction and stakeholder engagement.

Syrma SGS Technology Appoints New Secretarial Auditors
Sep 26, 2025

Syrma SGS Technology Limited has announced a change in its secretarial auditors, appointing M/s. DPV & Associates LLP for a five-year term starting from the financial year 2025-26. This appointment was approved at the company’s 21st Annual General Meeting, reflecting a strategic move to ensure compliance and enhance corporate governance. The new auditors bring extensive experience in secretarial audits and corporate governance services, which could positively impact Syrma SGS’s operational integrity and stakeholder confidence.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Dec 03, 2025