SYRMABSESyrma SGS Technology LtdMediumNeutral
Announced Mon, 11 May · 18:30 IST

Press Release for quarter and financial year ended march 31, 2026

Mgmt Guided Margin ImprovementInvestor Communications View source PDF

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Price reaction · full curve 14 horizons · vs prior close
-7.1%1-day move
₹1118.00
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₹1155.00
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-0.7+1.6-0.3-2.4-7.1-7.6-9.7-13.1-12.3-8.2+6.9+12.4+27.7
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AI summary

Syrma SGS reported strong Q4FY26 results with revenue of Rs 14,768 million (up 56% YoY) and FY26 revenue of Rs 48,569 million (up 27% YoY). Profit after tax surged 87% YoY to Rs 3,458 million for the full year, while EBITDA grew 56% YoY to Rs 5,823 million. EBITDA margin expanded 230 basis points YoY to 12.0% for FY26, and PAT margin doubled from 4.8% to 7.1%. Export revenue grew 41% YoY and crossed Rs 1,200 crore, now comprising 25% of total revenue. Management noted that EBITDA expansion was ahead of initial guidance, achieved with positive operating cash flow and reduced working capital days. Strategic initiatives include consolidation of Elcome in Defence, Elemaster JV for Industrial & Railways electronics, and a new PCB project for component ecosystem expansion.

Likely market impact

Strong operational performance with significant margin expansion and cash generation reflects improving capital efficiency. The diversification into Defence, Automotive, and Industrial verticals positions the company for sustained growth, though QoQ margin contraction in Q4 (EBITDA margin down 70 bps) suggests some quarterly volatility to monitor.