| P/E TTM | 85.45Sector 41.24 |
|---|---|
| Market Cap | ₹31,454 CrConsumer Durables |
| RSI | 55.55Neutral Zone |
| 1Yr Price Change | 100.05%Performance |
| Metric | Q2-27 | Q1-27 | Q2-26 |
|---|---|---|---|
| Revenue from Operations | 1,990 | 1,589 | 1,146 |
| Other Income | 9.9 | 15.1 | 8.7 |
| Total Income | 2,000 | 1,604 | 1,155 |
| Profit Before Tax | 165 | 141 | 89.5 |
| Net Profit | 124 | 106 | 66.3 |
| Operating Margin | 8.3% | 8.8% | 7.8% |
| Net Profit QoQ | +17.5% | ||
| Net Profit YoY | +87.3% | ||
| Adj. Profit QoQ | +23.5% | ||
| Adj. Profit YoY | +92.2% | ||
Key highlights
- Consolidated revenue from operations grew 73.6% year-on-year to ₹1,990 crore
- Net profit increased to ₹124 crore, up from ₹66.3 crore in the same period last year
- Operating margins improved to 8.3% compared to 7.8% in Q2 FY26
- Sequential net profit growth stood at 17.5% over the June 2026 quarter
- Total income for the quarter reached ₹2,000 crore, including other income of ₹9.9 crore
- Company finalized a final dividend of ₹1.5 per equity share during the quarter
Robust Revenue Growth and Margin Expansion
Syrma SGS Technology witnessed a substantial scaling of its top-line performance, with revenue from operations reaching ₹1,990 crore in Q2 FY27. This represents a 73.6% increase compared to the ₹1,146 crore reported in the corresponding quarter of the previous year. The company managed to improve its operating margin to 8.3% from 7.8% year-on-year, despite rising material costs which reached ₹1,406.99 crore for the quarter.
Profit before tax for the period stood at ₹165 crore, a sharp rise from ₹89.5 crore in Q2 FY26, reflecting enhanced operational leverage as the company executes its high-volume order book.
Strategic Expansion and Subsidiary Performance
- Syrma Kaga Electronics Private Limited was added as a subsidiary effective August 18, 2026
- The group now comprises 16 subsidiary entities including operations in Germany and the USA
- Consolidated total assets increased to ₹7,074 crore as of September 30, 2026
- Inventory levels rose to ₹1,578.88 crore to support scaling production requirements
- Trade receivables stood at ₹2,123.22 crore, reflecting increased sales volume
Board Approval and Corporate Actions
The Board of Directors of the Company in its meeting held today i.e October 30, 2026, which commenced at 01:30 P.M. IST and concluded at 4:20 P.M. IST, inter alia considered and approved the Unaudited (Standalone and Consolidated) Financial Results of the Company for the quarter and half year ended September 30, 2026.
Market Positioning and Growth Outlook
The company's performance aligns with its broader growth trajectory, having previously guided for FY27 revenue growth exceeding 35%. With an order book that stood at ₹6,770 crore at the end of June 2026, Syrma SGS is well-positioned to meet its execution targets, particularly with ₹5,400 crore of that book slated for delivery within 12 months. The electronics manufacturing specialist is also advancing its greenfield PCB manufacturing project in Andhra Pradesh, involving a ₹1,600 crore investment, which remains on track for commissioning by April 2027 to further bolster its domestic manufacturing capabilities.
| Date | Announcement | Amount |
|---|---|---|
| 30 Jul 2026 | Management Guidance: FY27 Revenue Growth exceeding 35% and EBITDA Margin of 10.5%-11%Source: stockscans.in | – |
| 29 Jul 2026 | Q1 FY27 Consolidated Revenue from OperationsSource: business-standard.com | ₹1,588.62 Cr |
| 11 May 2026 | Q4 FY26 Consolidated Revenue from OperationsSource: livemint.com | ₹1,465.01 Cr |
| 29 Jan 2026 | Q3 FY26 Consolidated Revenue from OperationsSource: livemint.com | ₹1,264.18 Cr |
| 10 Nov 2025 | Q2 FY26 Consolidated Revenue from OperationsSource: syrmasgs.com | ₹1,145.90 Cr |
| 23 Jul 2025 | Q1 FY26 Consolidated Revenue from OperationsSource: earnings.thecore.in | ₹944.00 Cr |
What to watch next
- Commissioning of the greenfield PCB manufacturing project in Naidupeta by April 2027
- Execution of the ₹5,400 crore order book executable within the current fiscal year
- Progress on margins toward the guided EBITDA range of 10.5% to 11% for FY27
- Integration and contribution of the newly formed Syrma Kaga Electronics subsidiary
“The Board of Directors of the Company in its meeting held today i.e October 30, 2026... considered and approved the Unaudited (Standalone and Consolidated) Financial Results of the Company for the quarter and half year ended September 30, 2026 and have taken on record the limited review report thereon.”
| Share price | ₹1634.3 |
|---|---|
| Market capitalisation | ₹31,454.42 Cr |
| Revenue (annual) | ₹4,819.06 Cr |
| Net profit (annual) | ₹317.78 Cr |
| Revenue (latest quarter) | ₹1,588.62 Cr+8.44% vs previous quarter |
| Net profit (latest quarter) | ₹100.07 Cr-1.11% vs previous quarter |
| P/E (TTM) | 85.45×Sector 41.24× |
| Promoter holding | 41.63%-0.65% QoQ |
| FII holding | 9.51%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Syrma SGS Technology Limited announcing its unaudited financial results for the quarter ended September 30, 2026. Market figures from a third-party data provider.
