Syrma SGS Technology Limited (IN:SYRMA)
:SYRMA
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Syrma SGS Technology Limited
(SYRMA)
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Rating:66Neutral
Price Target:
₹716.00
▼(-4.55% Downside)
Action:DowngradedDate:12/03/25
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 and profit growth
Sustained revenue and profit expansion indicates durable demand for Syrma's EMS services and successful program wins. Over 2–6 months this supports reinvestment in capacity and R&D, strengthens customer credibility for long-term contracts, and underpins margin stability if scale is maintained.
Negative Factors
Negative free cash flow
Persistent negative free cash flow constrains the company's ability to self-fund growth, repay debt, or return capital. Over months this raises reliance on external financing, increases sensitivity to working capital swings from component pass-throughs, and limits flexibility for opportunistic investments.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profit growth
Sustained revenue and profit expansion indicates durable demand for Syrma's EMS services and successful program wins. Over 2–6 months this supports reinvestment in capacity and R&D, strengthens customer credibility for long-term contracts, and underpins margin stability if scale is maintained.
Read all positive factors
Syrma SGS Technology Limited (SYRMA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹167.29B
Dividend Yield0.2%
Average Volume (3M)86.41K
Price to Earnings (P/E)34.4
Beta (1Y)1.51
Revenue Growth1.30%
EPS Growth111.88%
CountryIN
Employees1,321
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)5.50
Shares Outstanding192,830,490
10 Day Avg. Volume85,012
30 Day Avg. Volume86,409
Financial Highlights & Ratios
PEG Ratio0.85
Price to Book (P/B)4.73
Price to Sales (P/S)2.23
P/FCF Ratio-137.79
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹1,010.00Price Target Upside34.64% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)20.64
Revenue Forecast (FY)₹63.35B
Syrma SGS Technology Limited Business Overview & Revenue Model
Company Description
Syrma 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 deve...
How the Company Makes Money
Syrma 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 produc...
Syrma SGS Technology Limited Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 38.14B | 37.16B | 31.30B | 20.10B | 10.13B | 8.77B |
| Gross Profit | 8.95B | 7.72B | 6.08B | 4.51B | 2.70B | 2.72B |
| EBITDA | 4.51B | 3.66B | 2.55B | 2.30B | 1.06B | 1.05B |
| Net Income | 2.28B | 1.70B | 1.07B | 1.19B | 555.38M | 630.09M |
Balance Sheet | ||||||
| Total Assets | 52.10B | 42.05B | 36.89B | 25.41B | 11.54B | 9.07B |
| Cash, Cash Equivalents and Short-Term Investments | 7.58B | 3.47B | 1.14B | 1.25B | 697.10M | 1.07B |
| Total Debt | 3.32B | 6.65B | 6.30B | 3.75B | 2.18B | 1.03B |
| Total Liabilities | 23.22B | 23.80B | 20.12B | 9.98B | 5.71B | 3.64B |
| Stockholders Equity | 28.09B | 17.50B | 16.13B | 15.40B | 5.72B | 2.42B |
Cash Flow | ||||||
| Free Cash Flow | -1.86B | -600.76M | -4.51B | -1.89B | -1.03B | 177.32M |
| Operating Cash Flow | -1.15B | 1.76B | -1.14B | -702.76M | -126.32M | 371.14M |
| Investing Cash Flow | -2.66B | -1.05B | -281.80M | -9.14B | -3.99B | -1.12B |
| Financing Cash Flow | 6.05B | -706.98M | 1.50B | 9.97B | 3.82B | 715.62M |
Syrma SGS Technology Limited Technical Analysis
Positive
750.15
Price Trends
803.03
Positive
780.97
Positive
761.36
Positive
Market Momentum
15.33
Negative
63.53
Neutral
89.27
Negative
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 750.15 is below the 20-day moving average (MA) of 788.22, below the 50-day MA of 803.03, and below the 200-day MA of 761.36, indicating a bullish trend. The MACD of 15.33 indicates Negative momentum. The RSI at 63.53 is Neutral, neither overbought nor oversold. The STOCH value of 89.27 is Negative, 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹49.18B | 14.66 | ― | 1.62% | 11.91% | -1.02% | |
69 Neutral | ₹63.06B | 13.20 | ― | 3.28% | 3.31% | -11.27% | |
68 Neutral | ₹57.76B | 42.91 | ― | 1.26% | 21.31% | -16.27% | |
67 Neutral | ₹190.52B | 60.10 | ― | 0.08% | 47.18% | 38.90% | |
66 Neutral | ₹167.29B | 34.37 | ― | 0.20% | 1.30% | 111.88% | |
65 Neutral | ₹61.18B | 47.32 | ― | ― | 31.50% | 11.32% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
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Syrma SGS Technology Limited Corporate Events
Syrma SGS Bolsters Market Presence with Strategic Acquisitions
Dec 17, 2025
Syrma SGS Technology Limited has announced the acquisition of a 60% stake in Elcome Integrated Systems Private Limited for INR 235 crores as part of a strategic move to strengthen its operational capabilities. This acquisition includes Elcome̵...
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 Shin...
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...
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...
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.