Syrma Sgs Technology Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
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Syrma SGS reported Q1FY26 results with a sharp divergence between revenue and profits. Standalone revenue from operations fell ~31% YoY to Rs 5,617.47 million (vs Rs 8,159.93 million in Q1FY25), but standalone PAT surged to Rs 267.51 million from just Rs 27.26 million, with EPS at Rs 1.50 (vs Rs 0.15). Consolidated revenue declined ~19% YoY to Rs 9,439.80 million (vs Rs 11,599.73 million), while consolidated PAT grew ~145% to Rs 499.20 million (vs Rs 203.46 million), with EPS at Rs 2.79 (vs Rs 1.09). PBT margins expanded significantly on both standalone and consolidated bases, driven by lower raw material costs and better operating leverage. Walker Chandiok & Co LLP issued unmodified limited review reports; comparable Q1FY25 figures were reviewed by Deloitte Haskins & Sells LLP, indicating an auditor change.
Strong PAT growth on both standalone and consolidated levels, alongside margin expansion, is a positive signal for shareholders despite the YoY revenue decline. Investors should watch the new auditor relationship, the newly incorporated subsidiaries (Syrma Components, Syrma Elecomp), and the post-quarter Shinyup Electronics JV as future growth drivers. Mixed signals — falling top-line but rising profitability — warrant monitoring of revenue trajectory in coming quarters.