Syrma SGS FY26 net profit rises 87% on strong revenue growth
Syrma SGS Technology Limited reported a robust financial performance for FY26, with net profit rising 87% to ₹3,458 million and revenue increasing 27% to ₹48,191 million. The EBITDA margin improved to 12.0%. Growth was driven by the Industrials, Automotive, and IT and Railways segments. The company announced strategic initiatives including a ₹1,600 crore phased capex for a PCB manufacturing JV with Shinhyup Korea and a high-reliability electronics JV with Elemaster. Q4 FY26 revenue grew 57% YoY to ₹14,650 million.

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Syrma SGS Technology Limited reported a strong financial performance for the year ended March 31, 2026, with profit after tax (PAT) rising 87% year-on-year to ₹3,458 million. Revenue from operations grew 27% to ₹48,191 million, driven by growth across automotive, industrial, and consumer verticals. The company’s EBITDA margin improved to 12.0% from 9.7% in the previous year, reflecting operational efficiency and scale benefits.
Financial Performance FY26
The company’s profitability expansion was marked by a profit before tax (PBT) increase of 88% to ₹4,454 million. Total revenue stood at ₹48,569 million. Key operational metrics included a gross profit margin of 25.6%, up from 22.6% in FY25. The balance sheet remained robust with total assets increasing to ₹57,700 million and cash and cash equivalents rising to ₹8,203 million.
| Metric (₹ in Million) | FY25 | FY26 | YoY Change |
|---|---|---|---|
| Revenue From Operations | 37,872 | 48,191 | 27% |
| EBITDA | 3,727 | 5,823 | 56% |
| Profit Before Tax | 2,371 | 4,454 | 88% |
| Profit After Tax | 1,845 | 3,458 | 87% |
Segment Performance
Revenue growth was broad-based across all major business verticals. The Industrials segment reported revenue of ₹13,985 million, while the Automotive segment contributed ₹11,390 million. The IT and Railways segment showed the highest growth rate, with revenue increasing 74% to ₹4,336 million, supported by the production of laptop and motherboard assemblies.
| Segment | FY25 Revenue (₹ Mn) | FY26 Revenue (₹ Mn) | YoY Growth |
|---|---|---|---|
| Industrials | 10,758 | 13,985 | 30% |
| Consumer | 13,491 | 14,527 | 8% |
| Automotive | 8,213 | 11,390 | 39% |
| IT and Railways | 2,493 | 4,336 | 74% |
| Healthcare | 2,912 | 3,952 | 36% |
Strategic Initiatives And Expansion
Syrma SGS outlined significant capital expenditure plans aimed at import substitution and expanding its manufacturing capabilities. The company is establishing a 75:25 joint venture with Shinhyup Korea to manufacture printed circuit boards (PCBs) at a 24-acre facility in Naidupeta, Andhra Pradesh. The total phased capex for this project is estimated at ₹1,600 crore, with commercial operations expected to commence by March 2027. The facility will target the automotive, industrial, consumer, and defence markets.
Additionally, the company formed a joint venture with Italy-based Elemaster to create a high-reliability electronics manufacturing platform in Bengaluru. The facility, with an area of 20,000 sq. ft., saw its first SMT line become operational in Q2 FY2027. Syrma SGS also acquired a 60% stake in Elcome in December 2025 for ₹235 crore, entering the high-entry-barrier maritime electronics segment.
Q4 FY26 Performance
For the quarter ended March 31, 2026, revenue from operations increased 57% year-on-year to ₹14,650 million. PAT for the quarter rose 67% to ₹1,192 million. The company maintained its margin discipline with an EBITDA margin of 12.6% for the quarter.
Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE0DYJ01015/bb3824eb-ae0f-4e2b-84b6-27158b81e28a.pdf
Historical Stock Returns for Syrma SGS
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.43% | +16.42% | +20.45% | +56.03% | +129.09% | +295.10% |
How will the phased ₹1,600 crore capital expenditure impact Syrma SGS's free cash flow and leverage ratios over the next two years?
What are the projected revenue contributions from the new Shinhyup Korea and Elemaster joint ventures once they reach full operational capacity?
Can the IT and Railways segment sustain its 74% growth rate given the current demand for laptop and motherboard assemblies?


































