SYRMACapital Goods

Syrma SGS Technology Limited

Industrial Products · ISIN INE0DYJ01015 · BSE 543573 · NSE EQ · FV ₹10
Last price
₹1,618
+7.05%today
What this company does

Syrma SGS Technology Limited operates in Industrial Products, part of the Capital Goods sector. It booked ₹1,589 cr of revenue in its latest quarter (Q1 FY27) and kept 6.7% of sales as profit. It is the 3rd largest of 9 Industrial Products companies we track, by market value.

Their stated vision

is to establish a world- our achievement of maintaining a Supply chain disruptions, fluctuating class, multi-layer and single-layer workforce with over 40% women.

In the report:
55out of 100
Equitytale Health Score
Mixed

Healthier than 55% of companies in Capital Goods, on all six measures of filed financials. Each measure is ranked against the 77–113 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
63

At close. Not part of the score.

Profitability & returns47

How much profit it earns on the money it employs

Balance sheet45

How much it owes, and whether earnings cover the interest

Cash quality50

Whether reported profit actually arrives as cash

Growth & consistency85

Whether sales and profit have grown, and how steadily

Valuation27

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 68% vs last year
Profit up 112% vs last year
Promoters hold 42%
No promoter shares pledged
Watch-outs
! Thin 6.7% net margin
! Operating cash flow is negative

What if I invest in SYRMA?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹1,618 +7.05%
latest close · 2026-09-17
52-wk low ₹1,25742 sessions so far52-wk high ₹1,660
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio77.9High
LowAverageHigh
P/B ratio10.89High
Below bookModerateHigh
EV / EBITDA44.3High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity14.8%Fair
WeakFairStrong ▸15%
Return on capital18.5%Strong
WeakFairStrong
Net margin6.7%Decent
ThinDecentStrong
EBITDA margin11.1%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.12Comfortable
LowModerateHigh ▸1
Interest cover11.6×Strong
RiskyOkayStrong ▸5×
Current ratio1.70Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹31,158 cr
Book value
₹149
EPS
₹5.19
latest quarter
Net debt
₹161 cr
owes more than its cash
Enterprise value
₹31,319 cr
EBITDA
₹707 cr
annualised
EBIT
₹617 cr
annualised
Operating margin
9.7%
Return on assets
7.3%
Earnings yield
1.28%
P/S
4.90
Sales / share
₹329.9
Tax rate
24.9%
Face value
₹10
Shares
19.3 cr
Working capital
₹1,709 cr
Current assets
₹4,150 cr
Current liabilities
₹2,441 cr
Delivery %
36.2%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹107₹162, midpoint ₹135

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹1,589 cr
Other Income₹15 cr
Total Income₹1,604 cr
Cost of Materials₹1,401 cr
Purchases of Stock-in-Trade₹2 cr
Inventory Change (±)₹-204 cr
Employee Benefit Expense₹75 cr
Finance Costs₹13 cr
Depreciation & Amortisation₹22 cr
Other Expenses₹153 cr
Total Expenses₹1,463 cr
Profit before Tax₹141 cr
Tax Expense₹35 cr
Net Profit₹106 cr
Net margin on total income6.6%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹1,199 cr74.8%
Employee benefit expense₹75 cr4.7%
Finance costs₹13 cr0.8%
Depreciation & amortisation₹22 cr1.4%
Other expenses₹153 cr9.5%
Tax expense₹35 cr2.2%
Profit for the period₹106 cr6.6%
Total income ₹1,604 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue1,264 cr1,465 cr1,589 cr
Total income1,274 cr1,477 cr1,604 cr
Expenses1,133 cr1,325 cr1,463 cr
Profit before tax138 cr150 cr141 cr
Tax28 cr31 cr35 cr
Net profit (owners' share)110 cr119 cr106 cr
Net margin (owners' share, on revenue)8.7%8.1%6.7%
EPS (₹)5.335.295.19
YoY (latest quarter): total income +67.0% · net profit +111.7%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹5,770 cr
Shareholder equity
₹2,862 cr
parent shareholders
Total debt
₹353 cr
Cash
₹192 cr
Cash flow · H1 FY26
Operating
₹-115 cr
Investing
₹-266 cr
Financing
₹605 cr
Peer comparison
Industrial Products · by market value
CompanyPriceMarket capP/E
INDO-MIM Limited₹993₹48,086 cr50.1
Aditya Infotech Limited₹3,378₹39,814 cr70.0
Syrma SGS Technology Limitedthis company₹1,618₹31,158 cr77.9
Honeywell Automation India Limited₹33,915₹29,845 cr49.7
Kaynes Technology India Limited₹3,520₹23,596 cr104.5
Jyoti CNC Automation Limited₹981₹22,305 cr97.7
LMW Limited₹18,170₹19,406 cr87.4
Tega Industries Limited₹1,920₹14,425 cr
LLOYDS ENGINEERING WORKS LIMITED₹80₹11,801 cr42.7
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.19%
trailing 12 months
Dividend / share (TTM)
₹3
Last dividend
₹1.5
ex 18 Aug 2026
ActionDetailEx-date
Dividend₹1.5 / share18 Aug 2026
Dividend₹1.5 / share19 Sep 2025
Dividend₹1.5 / share10 Sep 2024
Dividend₹1.5 / share1 Sep 2023
Who owns it · 2026-06-30
No pledge
Promoter
42.3%
FII / Foreign
7.5%
DII / Domestic
15.9%
Retail / others
34.2%
Promoter stake down 4.6% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtSYRMA SGS EMPLOYEE WELFARE TRUST · Employees/Designated Employees10,000 · ₹48.4 L13 Mar 24
BoughtSYRMA SGS EMPLOYEE WELFARE TRUST · Employees/Designated Employees50,000 · ₹2.5 cr12 Mar 24
BoughtSYRMA SGS EMPLOYEE WELFARE TRUST · Other47,500 · ₹2.5 cr6 Mar 24
Bulk / block deals
short · NSE1558 Sep 26
short · NSE1403 Sep 26
short · NSE12030 Jul 26
Stake changes
BoughtFranklin Templeton Mutual Fund (through its various schemes)→ 5.06% · 1.68 L9 Jul 25
SoldJasbir Singh Gujral→ 7.04% · 73,95922 Dec 23
SoldManoharlal Tandon · promoter→ 0.19% · 30,00020 Dec 23
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 25 Aug 2026
See the official result
1
To consider and adopt the audited standalone financial statements of the Company for the financial year ended March 31, 2026, along with the Reports of the Board of Directors and Auditors thereon and the audited consolidated financial statements of the Company for the financial year ended March 31, 2026, along with the report of the Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
7.38 cr votes for, 179 against · 0% of mutual funds and other big investors said no
2
To declare dividend on Equity Shares for the financial year ended March 31, 2026.
Backed by 100% of shareholders other than promotersneeded 50%
7.39 cr votes for, 179 against · 0% of mutual funds and other big investors said no
3
To appoint Mr. Jayesh Nagindas Doshi (DIN: 00017963), Director of the Company, who retires by rotation and has offered himself for re-appointment as a Director.
Backed by 93% of shareholders other than promotersneeded 50%
6.86 cr votes for, 52.09 L against · 14% of mutual funds and other big investors said no
4
Ratification of remuneration payable to M/s. Umesh Sagta & Associates, Cost Accountants, Cost Auditors of the Company for FY 2026-27.
Backed by 100% of shareholders other than promotersneeded 50%
7.38 cr votes for, 14,062 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 88 named members
owning 42.3% between them · as of 2026-06-30
Tancom Electronics Private Limited32.84%
Jasbir Singh Gujral6.48%
Modern Die Casting Llp2.32%
Veena Kumari Tandon0.64%
AASHIV TANDONno shares
Archsone Properties (India) Private Limitedno shares
Armaan Tandonno shares
ARYA TANDONno shares
Business done with them
FY2025 · 2 of the group
The company paid ₹6 cr to companies in the promoter group last year — about 0.1% of its ₹3,787 cr revenue.
Mr. Sandeep Tandon
Other payments to them · Description is mentioned along with relevant line item
₹3 cr
company paid
Mr. Jasbir Singh Gujral
Other payments to them · Description is mentioned along with relevant line item
also owns 6.48% of the company
₹2 cr
company paid

The company also transacted with 14 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹840 cr raised in Aug 2022 by selling shares to the public

As of Jun 2026, the company says it has spent 100% of what it set aside. CRISIL Ratings Limited watches the spending on the exchange’s behalf.

Funding Capital expenditure for development of R&D facility/expansion/setting of manufacturing facilities
100%
₹403 cr of ₹403 cr
Funding Working capital requirements
100%
₹132 cr of ₹132 cr
General Corporate Purpose
100%
₹191 cr of ₹191 cr
Spent by quarter: 86%88%89%93%94%100% (to Jun 2026)
₹1,000 cr raised in Aug 2025 by selling shares to large investors

As of Dec 2025, the company says it has spent 100% of what it set aside. CARE Ratings Limited watches the spending on the exchange’s behalf.

Repayment and/or pre-payment, in full or in part, of certain outstanding borrowings availed by our Company
100%
₹750 cr of ₹750 cr
General corporate purposes
100%
₹224 cr of ₹224 cr
Issue Related Expenses
100%
₹26 cr of ₹26 cr
Spent by quarter: 70%100% (to Dec 2025)

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.