Syrma SGS Technology Limited has announced its 22nd Annual General Meeting (AGM) scheduled for Tuesday, August 25, 2026 at 4:00 PM IST, to be held via Video Conferencing (VC)/Other Audio-Visual Means (OAVM). The deemed venue of the meeting is the company's registered office at Unit No. 601, 6th Floor, Floral Deck Plaza, MIDC, Andheri (East), Mumbai-400093, Maharashtra, India. The notice was dispatched electronically on August 03, 2026.

AGM Key Details

The following table summarises the key dates and logistics for the 22nd AGM:

Dividend Declaration

The Board of Directors has recommended a final dividend of ₹1.50 per equity share (i.e., 15% on face value of ₹10 each) for the financial year ended March 31, 2026, subject to approval of members at the ensuing AGM. The dividend, if approved, will be paid to shareholders on record as of August 18, 2026 within the stipulated period of 30 days from the date of declaration.

FY2025-26 Financial Performance

FY2025-26 represented one of the strongest periods of financial delivery in the company's history, with growth, profitability, and balance-sheet strength improving in tandem.

Consolidated Financial Performance

Standalone Financial Performance

Profitability and Returns

Balance Sheet Strength

Per Share and Dividend

Operational Highlights

The company's operational KPIs for FY2026 reflect significant progress across key strategic metrics:

• Export Revenue: Grew 41% YoY to surpass ₹1,200 crores for the first time, representing 25% of consolidated revenue
• ODM Revenue: Rose 80% to ₹825 crore, with ODM share expanding from 12% to 17% of total revenue
• Operating Cash Flow: ₹2,895.7 million, up 64.1% from ₹1,764.6 million
• Net Working Capital Days: Improved from 69 days to 63 days (58 days excluding newly consolidated Elcome)
• OCF/EBITDA: 53.2% in FY2026 vs. 54.5% in FY2025
• Revenue Mix by End-Market (FY2026): Consumer 30%, Industrials 29%, Auto 24%, IT and Railways 9%, Healthcare 8%

Strategic Developments in FY2026

The company executed three significant strategic moves during FY2026:

• Elcome Acquisition: Acquired a 60% stake in Elcome Integrated Systems Private Limited for a consideration of ₹235 crores, establishing the Naval and Maritime Electronics vertical. Elcome, founded in 1978, supplies navigation, monitoring, and safety systems to India's naval and maritime forces. Even on a part-year consolidation till March 31, 2026, it added ₹50.8 crores to Syrma consolidated operating EBITDA. The remaining 40% stake is to be acquired under a definitive agreement.
• Elemaster Joint Venture: Entered a joint venture with Italy's Elemaster to establish a dedicated Indian platform for high-reliability industrial and railway electronics at Bommasandra Industrial Area, Bengaluru, focusing on PCBA and Box Build.
• Andhra Pradesh Greenfield PCB Project: Commenced civil works on a bare-board PCB manufacturing facility in Naidupeta, Andhra Pradesh, with total phased capex of approximately ₹1,600 crores. The project has received ECMS and PLI approvals and state incentive support from Andhra Pradesh.

Credit Rating Upgrade

During the year, India Ratings and Research upgraded the company's long-term credit rating from AA– to AA, with a Stable outlook, and affirmed the short-term rating at IND A1+. The commercial paper rating was also affirmed at IND A1+.

AGM Business Items

The following resolutions are proposed at the 22nd AGM:

• Adoption of audited standalone and consolidated financial statements for FY2025-26
• Declaration of final dividend of ₹1.50 per equity share (15% on ₹10 face value)
• Re-appointment of Mr. Jayesh Nagindas Doshi (DIN: 00017963) as Director, retiring by rotation
• Ratification of remuneration of M/s. Umesh Sagta & Associates, Cost Accountants, for FY2026-27 at a remuneration not exceeding ₹2,50,000 plus applicable taxes
• Re-appointment of Mr. Sandeep Tandon (DIN: 00054553) as Executive Chairman for five years from October 01, 2026 to September 30, 2031
• Appointment of Mr. Jayesh Nagindas Doshi (DIN: 00017963) as Whole Time Director for five years till March 31, 2031
• Approval under Section 180(1)(a) for creation of mortgage or charge on assets up to an aggregate limit computed on the basis of paid-up capital, free reserves and securities premium aggregating to ₹2,955 crores as on March 31, 2026
• Approval for raising of funds up to ₹1,000 crores via Qualified Institutional Placement
• Approval for revision in remuneration of Mr. Ishaan Tandon, a related party, at $75,000 per annum effective September 1, 2026

The AGM notice and Annual Report for FY2025-26 are available on the company's website and have been sent electronically to shareholders with registered email addresses.

Syrma SGS has significantly upgraded its financial guidance following a strong Q1 FY27 performance, with management now projecting over 35% revenue growth for the full year — a pace expected to sustain for the next two to three years. The updated guidance, shared during a concall, also covers EBITDA margins, export targets, and segment-level growth, reflecting broad-based operational momentum across the business.

Upgraded Full-Year Guidance

Management expressed confidence in exceeding its full-year guidance for both revenue and EBITDA, building on a strong Q1 FY27 performance. The company now targets revenue growth in excess of 35% for the full year, an acceleration from its earlier 30%+ projection. This growth rate is expected to continue for the next two to three years, underscoring the company's medium-term visibility.

The following table summarizes the key guidance parameters disclosed during the concall:

Export and ODM Momentum

Syrma SGS has revised its export outlook upward, now projecting exports to reach ₹1,500 Cr to ₹1,600 Cr for the year, implying growth of 30% to 40%. This represents an upgrade from the previously stated ₹1,500 Cr export guidance. On the ODM (Original Design Manufacturer) front, management noted that sales momentum is expected to continue, with a long-term target of ODM contributing 25% of total sales.

Segment Highlights and PCB Project Update

The healthcare segment is expected to deliver strong growth of 50% this year, emerging as a key contributor to the company's overall revenue trajectory. On the manufacturing side, the PCB (Printed Circuit Board) project remains on track for commercial production by April 2027, a milestone that is expected to further strengthen Syrma SGS's domestic manufacturing capabilities and product portfolio.

Key Takeaways

• Syrma SGS guides for over 35% revenue growth for the full year, expected to sustain for the next two to three years
• EBITDA margin guidance maintained at 10.50% to 11.00% for the full year
• Export target revised upward to ₹1,500 Cr – ₹1,600 Cr, implying 30% to 40% growth
• Healthcare segment projected to grow 50% this year
• PCB project on track for commercial production by April 2027
• ODM sales targeted at 25% of total sales over the long term
• Management confident of exceeding full-year guidance for both revenue and EBITDA