Syrma SGS Technology

₹473.6 10.4 | 2.2%

WEBSITE BSE:543573 NSE : SYRMA 10 May, 16:01

Market Cap ₹8410 Cr.

Stock P/E 73.0

P/B 5.3

Current Price ₹473.6

Book Value ₹ 89.5

Face Value 10

52W High ₹705

Dividend Yield 0.32%

52W Low ₹ 290.1

Edit Ratio

Syrma SGS Technology Research see more...

Syrma SGS Technology Ltd

Overview Inc. Year: 2004Industry: Electronics - Components

Syrma SGS Technology Ltd is a leading electronics manufacturing services (EMS) company based in Chennai, India. The company offers a wide range of services such as PCB assembly, box build assembly, system integration, and testing services. With over 40 years of experience in the industry, Syrma SGS has a strong reputation for delivering high-quality products and services to its customers. Syrma SGS has a global customer base across various industries, including automotive, aerospace, medical, industrial, and consumer electronics. The company has a strong focus on innovation and is constantly investing in research and development to stay ahead of industry trends. Syrma SGS is committed to sustainability and has implemented several environmentally-friendly practices in its operations. Overall, Syrma SGS Technology Ltd is a trusted partner for companies looking for reliable and high-quality electronics manufacturing services.

Syrma SGS Technology Share Price

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Peer Comparison

Syrma SGS Technology Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	214	302	371	389	467	513	680	601	712	707
Other Income	2	2	8	2	8	13	22	22	9	12
Total Income	216	303	379	392	475	526	701	623	721	719
Total Expenditure	193	265	346	356	420	466	620	564	663	668
Operating Profit	22	39	33	36	55	60	81	59	58	51
Interest	1	2	3	5	6	6	4	8	8	10
Depreciation	3	7	7	7	7	8	9	10	12	14
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	-1	0
Profit Before Tax	18	30	24	24	42	45	68	41	37	27
Provision for Tax	7	10	7	7	13	11	25	13	6	7
Profit After Tax	11	20	17	17	29	34	43	28	31	20
Adjustments	1	-0	-1	-1	-1	-1	-1	0	-2	-5
Profit After Adjustments	13	20	16	16	28	33	42	29	28	16
Adjusted Earnings Per Share	1	1.4	1.2	1.1	1.6	1.9	2.4	1.6	1.6	0.9

Syrma SGS Technology Profit & Loss

#(Fig in Cr.)	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	397	438	1020	2048	2700
Other Income	8	6	12	44	65
Total Income	405	444	1032	2093	2764
Total Expenditure	328	390	923	1857	2515
Operating Profit	77	54	109	236	249
Interest	10	6	9	26	30
Depreciation	10	12	19	31	45
Exceptional Income / Expenses	-6	0	0	0	-1
Profit Before Tax	52	36	81	179	173
Provision for Tax	8	8	27	56	51
Profit After Tax	44	29	54	123	122
Adjustments	0	3	1	-4	-8
Profit After Adjustments	44	32	56	119	115
Adjusted Earnings Per Share	6.2	4.2	4	6.7	6.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	101%	73%	0%	0%
Operating Profit CAGR	117%	45%	0%	0%
PAT CAGR	128%	41%	0%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	64%	NA%	NA%	NA%
ROE Average	12%	14%	21%	21%
ROCE Average	15%	17%	21%	21%

Syrma SGS Technology Balance Sheet

#(Fig in Cr.)	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	102	242	572	1540
Minority's Interest	0	0	11	3
Borrowings	24	24	4	87
Other Non-Current Liabilities	7	33	89	80
Total Current Liabilities	231	189	572	955
Total Liabilities	364	488	1247	2664
Fixed Assets	86	81	378	532
Other Non-Current Assets	16	142	120	811
Total Current Assets	262	265	750	1321
Total Assets	364	488	1247	2664

Syrma SGS Technology Cash Flow

#(Fig in Cr.)	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	6	31	28	33
Cash Flow from Operating Activities	71	24	15	-70
Cash Flow from Investing Activities	-29	-94	-394	-914
Cash Flow from Financing Activities	-21	68	359	997
Net Cash Inflow / Outflow	21	-3	-20	12
Closing Cash & Cash Equivalent	31	28	33	46

Syrma SGS Technology Ratios

#	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	6.19	4.24	4.04	6.75
CEPS(Rs)	7.56	5.39	5.35	8.73
DPS(Rs)	0	0	0	1.5
Book NAV/Share(Rs)	14.34	31.98	41.31	86.78
Core EBITDA Margin(%)	17.47	11.01	9.47	9.34
EBIT Margin(%)	15.58	9.66	8.78	9.98
Pre Tax Margin(%)	13.15	8.29	7.93	8.73
PAT Margin (%)	11.05	6.53	5.31	6.01
Cash Profit Margin (%)	13.49	9.28	7.21	7.53
ROA(%)	12.06	6.72	6.24	6.3
ROE(%)	43.14	16.67	13.37	11.71
ROCE(%)	33.35	17.52	16.82	15.41
Receivable days	106.96	101.69	71.61	60.18
Inventory Days	62.71	60.5	65.93	78.29
Payable days	171.52	143.4	90.24	86.31
PER(x)	0	0	0	38.91
Price/Book(x)	0	0	0	3.03
Dividend Yield(%)	0	0	0	0.57
EV/Net Sales(x)	0.12	0.06	0.29	2.41
EV/Core EBITDA(x)	0.64	0.49	2.71	20.94
Net Sales Growth(%)	0	10.38	132.65	100.88
EBIT Growth(%)	0	-31.55	111.35	128.47
PAT Growth(%)	0	-34.79	89.2	127.39
EPS Growth(%)	0	-31.52	-4.77	67.25
Debt/Equity(x)	0.82	0.23	0.34	0.23
Current Ratio(x)	1.13	1.4	1.31	1.38
Quick Ratio(x)	0.84	0.99	0.8	0.77
Interest Cover(x)	6.43	7.05	10.42	7.95
Total Debt/Mcap(x)	0	0	0	0.07

Syrma SGS Technology Shareholding Pattern

#	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	47.42	47.27	47.27	47.27	47.21	46.89	46.89
FII	4.08	4.93	4.61	9.27	10.14	11.12	12.95
DII	7.45	7.58	8.57	9.23	9.63	8.21	5.8
Public	41.05	40.22	39.54	34.23	33.02	33.78	34.36
Others	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100

#	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	8.36	8.36	8.36	8.36	8.35	8.33	8.33
FII	0.72	0.87	0.82	1.64	1.79	1.98	2.3
DII	1.31	1.34	1.52	1.63	1.7	1.46	1.03
Public	7.23	7.11	6.99	6.05	5.84	6	6.1
Others	0	0	0	0	0	0	0
Total	17.62	17.68	17.68	17.68	17.68	17.76	17.76

Pros

Debtor days have improved from 90.24 to 86.31days.
Company is almost debt free.

Cons

Promoter holding is low: 46.89%.
Company has a low return on equity of 14% over the last 3 years.
Stock is trading at 5.3 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.