# Syrma SGS Technology (SYRMA) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/syrma

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹1,459.3
- Change: -3.68%
- As of: 2026-11-06
- 1D return: -3.68%
- 5D return: -10.21%
- 1M return: -13.18%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

SYRMA closed at ₹1,459.30 on 2026-11-06, marking a sharp -3.7% daily decline following an extreme downward gap. The stock is currently trading below its key short-term moving averages (20-day and 50-day EMA/SMA) and the Supertrend indicator, signaling immediate bearish pressure. This daily weakness contrasts with a strong monthly trend (ADX 66.11, bullish Supertrend) and a robust weekly structure, suggesting the current pullback may be a correction within a longer-term uptrend rather than a structural break.

Price positioning is critical: SYRMA sits in the lower 16.8% of its 20-day range and near the lower end of its 50-day range, though it remains +69.4% above its 252-day low. Immediate support lies at ₹1,440.73 (-1.27%), with further downside risk toward ₹1,416.85 (-2.91%). Resistance is clustered closely above, starting at ₹1,462.50 (+0.22%) and extending to ₹1,472.47 (+0.90%). An active monthly Inside Bar pattern indicates consolidation, while recent anomalies include a -7.0% volume-driven drop on 2026-11-02 and a prior upward gap on 2026-11-05. With annualized volatility at +48.8% and a current drawdown of -18.2%, the setup requires confirmation of stabilization above ₹1,440 to validate the longer-term bullish context.

- Daily trend is bearish (price below 20/50 EMA & Supertrend; ADX 20.3), conflicting with strong monthly (ADX 66.11) and weekly (ADX 45.37) bullish structures.
- Immediate support at ₹1,440.73 (-1.27%); resistance at ₹1,462.50 (+0.22%) and ₹1,472.47 (+0.90%).
- Stock is in the lower 16.8% of its 20-day range and lower 15.5% of its 50-day range, despite being +69.4% above its 252-day low.
- Active monthly Inside Bar pattern suggests consolidation; high volatility (+48.8%) and -18.2% drawdown warrant caution.

- Inside Bar
- Harami
- Bullish Engulfing Reversal
- Outside Bar
- Bearish Engulfing Reversal

### News Context

Syrma SGS Technology reported unaudited consolidated results for Q2 FY27 (ended 30 September 2026), showing a sharp expansion in both top and bottom lines. Net profit surged 87.2% to ₹124.2 crore, while total revenue grew 73.2% to ₹1,999.5 crore. This strong operational performance coincided with renewed analyst coverage on 3 November 2026. Motilal Oswal issued a 'Buy' recommendation with a target of ₹2,100; Emkay Global Financial set a 'Buy' rating at ₹2,050; and Prabhudas Lilladher recommended 'Accumulate' with a target of ₹1,788. These external views reflect positive sentiment following the earnings release, though they represent third-party opinions rather than verified corporate outcomes.

- Q2 FY27 net profit rose 87.2% year-on-year to ₹124.2 crore, driven by 73.2% revenue growth to ₹1,999.5 crore.
- Motilal Oswal assigned a 'Buy' rating with a price target of ₹2,100 on 3 November 2026.
- Emkay Global Financial issued a 'Buy' recommendation with a target of ₹2,050 on 3 November 2026.
- Prabhudas Lilladher recommended 'Accumulate' with a price target of ₹1,788 on 3 November 2026.

- [Buy Syrma SGS Technology; target of Rs 2100: Motilal Oswal](https://www.moneycontrol.com/news/business/buy-syrma-sgs-technology-target-of-rs-2100-motilal-oswal-14067745.html)
- [Accumulate Syrma SGS Technology; target of Rs 1788: Prabhudas Lilladher](https://www.moneycontrol.com/news/business/stocks/accumulate-syrma-sgs-technology-target-of-rs-1788-prabhudas-lilladher-14067518.html)
- [Buy Syrma SGS Technology; target of Rs 2050: Emkay Global Financial](https://www.moneycontrol.com/news/business/stocks/buy-syrma-sgs-technology-target-of-rs-2050-emkay-global-financial-14067418.html)
- [Syrma SGS Technology Records Strong Q2 FY27, Net Profit Surges To ₹124.2 Crore On Robust Revenue Growth](https://www.freepressjournal.in/business/syrma-sgs-technology-records-strong-q2-fy27-net-profit-surges-to-1242-crore-on-robust-revenue-growth)

### Official Filings

Syrma SGS Technology Limited has reported strong financial growth for the half-year ended September 30, 2026, alongside a schedule of investor engagement events. For H1 FY27, revenue grew 71% year-on-year to ₹36,032 million, with profit after tax nearly doubling (+98%) to ₹2,299 million. The company maintains a net cash position, holding ₹10,034 million in cash against ₹7,458 million in total debt as of September 30, 2026. Management will participate in five institutional investor meetings between November 16 and 18, 2026, across Hong Kong, Mumbai, and Singapore, confirming that no unpublished price-sensitive information will be disclosed during these sessions.

- H1 FY27 revenue increased 71% YoY to ₹36,032 million, while profit after tax rose 98% YoY to ₹2,299 million.
- Q2 FY27 standalone net profit was ₹4,084.33 million on total income from operations of ₹16,151.28 million.
- The company holds a net cash surplus of ₹2,576 million (₹10,034 million cash vs. ₹7,458 million debt) as of September 30, 2026.
- Management is scheduled for five investor meetings from November 16–18, 2026, in Hong Kong, Mumbai, and Singapore.

- [Syrma SGS Technology Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_20274_WebXMLFile_20261105_182023960.xml)
- [Intimation under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the Listing Regulations ) for participating in Investor Meeting |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026183313_InvestorMeetIntimation16112026Signed.pdf)
- [Syrma Sgs Technology Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026183903_InvestorMeetIntimation16112026Signed.pdf)
- [Syrma Sgs Technology Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026184038_InvestorMeetIntimation16112026Signed.pdf)
- [Syrma Sgs Technology Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026183744_InvestorMeetIntimation16112026Signed.pdf)
- [Syrma Sgs Technology Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026184222_InvestorMeetIntimation16112026Signed.pdf)
- [Syrma SGS Technology Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_20274_WebXMLFile_20261102_183347999.xml)
- [Syrma Sgs Technology Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_02112026183619_4InvestorCall_OutcomeRecording_02112026.pdf)
- [Newspaper Advertisement for unaudited (Standalone and Consolidated) Financial Results of the Company for the quarter and half year ended September 30, 2026 Disclosure under Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/SYRMASGS_31102026154524_Reg47NewspaperFinancialsresultOctober302026.pdf)
- [Syrma Sgs Technology Limited has informed the Exchange about Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015 ( SEBI Listing Regulations )- Investor Presentation |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_30102026172121_1Presentation.pdf)

### Fundamentals

Syrma SGS Technology demonstrates a high-growth operating trajectory, with Q2 FY2026-27 revenue rising 74% year-on-year to ₹1,990 crore and net profit nearly doubling to ₹124 crore. Earnings quality has improved significantly, evidenced by Cash from Operating Activity reaching ₹290 crore in FY2026 and a robust ROCE of 17%. However, the balance sheet shows signs of working capital strain; inventories surged to ₹1,579 crore (up ~80% YoY) and debtor days remain elevated at 139 days. While borrowings increased sharply to ₹807 crore in Sep 2026, likely funding this expansion, cash reserves contracted to ₹145 crore. The company is currently in an investment-heavy phase, with Capital Work-in-Progress jumping to ₹261 crore, suggesting future capacity additions are underway.

- Revenue growth accelerated to 74% YoY in Q2 FY2026-27, with Net Profit increasing 88% to ₹124 crore.
- Operating cash flow strengthened to ₹290 crore in FY2026, supporting a ROCE improvement to 17%.
- Inventories rose to ₹1,579 crore and borrowings to ₹807 crore as of Sep 2026, indicating aggressive expansion financing.
- Next checkpoint: Monitor whether inventory buildup stabilizes and if operating margins sustain amidst rising current liabilities.

### Bull Case

Syrma SGS Technology demonstrated robust operational momentum in the quarter ended 30 September 2026, with unaudited consolidated net profit surging 87.2% to ₹124.2 crore and total revenue rising 73.2% to ₹1,999.5 crore. This fundamental strength underpins a constructive case where earnings growth could support valuation resilience despite near-term technical headwinds. While the daily trend is bearish with the stock trading at ₹1,459.3 (a -3.7% one-day return), the monthly and weekly timeframes remain bullish, suggesting longer-term structural support. The stock has delivered significant long-term gains, including an 85.0% return over the past year and a 102.8% year-to-date return as of 6 November 2026, indicating strong underlying investor interest. However, the current price sits within an -18.2% drawdown from recent highs, and resistance levels are immediate at ₹1,462.5. The constructive interpretation hinges on whether this earnings surge translates into sustained momentum that can overcome short-term selling pressure.

- Q2 FY27 net profit rose 87.2% to ₹124.2 crore and revenue grew 73.2% to ₹1,999.5 crore, signaling strong operational execution.
- Longer-term technical trends remain positive: monthly and weekly supertrends are bullish, contrasting with the daily bearish signal.
- The stock has achieved substantial returns, including +85.0% over one year and +102.8% year-to-date, reflecting strong historical performance.
- Current price of ₹1,459.3 faces immediate resistance at ₹1,462.5 and is in an -18.2% drawdown, requiring monitoring of support at ₹1,440.73.

- [Buy Syrma SGS Technology; target of Rs 2100: Motilal Oswal](https://www.moneycontrol.com/news/business/buy-syrma-sgs-technology-target-of-rs-2100-motilal-oswal-14067745.html)
- [Accumulate Syrma SGS Technology; target of Rs 1788: Prabhudas Lilladher](https://www.moneycontrol.com/news/business/stocks/accumulate-syrma-sgs-technology-target-of-rs-1788-prabhudas-lilladher-14067518.html)
- [Buy Syrma SGS Technology; target of Rs 2050: Emkay Global Financial](https://www.moneycontrol.com/news/business/stocks/buy-syrma-sgs-technology-target-of-rs-2050-emkay-global-financial-14067418.html)
- [Syrma SGS Technology Records Strong Q2 FY27, Net Profit Surges To ₹124.2 Crore On Robust Revenue Growth](https://www.freepressjournal.in/business/syrma-sgs-technology-records-strong-q2-fy27-net-profit-surges-to-1242-crore-on-robust-revenue-growth)
- [Syrma SGS Technology Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_20274_WebXMLFile_20261105_182023960.xml)
- [Intimation under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the Listing Regulations ) for participating in Investor Meeting |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026183313_InvestorMeetIntimation16112026Signed.pdf)
- [Syrma Sgs Technology Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026183903_InvestorMeetIntimation16112026Signed.pdf)
- [Syrma Sgs Technology Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026184038_InvestorMeetIntimation16112026Signed.pdf)
- [Syrma Sgs Technology Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026183744_InvestorMeetIntimation16112026Signed.pdf)
- [Syrma Sgs Technology Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026184222_InvestorMeetIntimation16112026Signed.pdf)

### Bear Case

Syrma SGS Technology’s recent quarterly results show robust top-line and bottom-line growth, with net profit rising 87.2% to ₹124.2 crore and revenue increasing 73.2% to ₹1,999.5 crore for the quarter ended 30 September 2026. However, technical indicators reveal a near-term deterioration in momentum. The daily Supertrend has turned bearish, supported by a negative 20-day EMA slope of -41.07 and an ADX of 20.3, suggesting weakening trend strength despite the price being above key moving averages on longer timeframes. The stock is currently trading at ₹1,459.3, down 3.7% from the previous close and sitting just below immediate resistance levels around ₹1,462.5. Over the past month, the share price has declined 13.4%, contributing to a current drawdown of 18.2% from its peak. While the monthly trend remains bullish, the divergence between strong fundamental growth and short-term technical weakness warrants caution for investors monitoring entry points or exit strategies.

- Daily technical trend has turned bearish (Supertrend: bearish; 20-day EMA slope: -41.07), indicating short-term momentum loss despite positive quarterly earnings.
- Stock is trading at ₹1,459.3, facing immediate resistance at ₹1,462.5 (0.22% above) after a 13.4% decline over the last month.
- Current drawdown stands at -18.2% from recent highs, with annualized volatility at +48.8%, reflecting elevated price sensitivity.
- Quarterly fundamentals remain strong with net profit up 87.2% to ₹124.2 crore, but short-term price action suggests consolidation or correction.

- [Buy Syrma SGS Technology; target of Rs 2100: Motilal Oswal](https://www.moneycontrol.com/news/business/buy-syrma-sgs-technology-target-of-rs-2100-motilal-oswal-14067745.html)
- [Accumulate Syrma SGS Technology; target of Rs 1788: Prabhudas Lilladher](https://www.moneycontrol.com/news/business/stocks/accumulate-syrma-sgs-technology-target-of-rs-1788-prabhudas-lilladher-14067518.html)
- [Buy Syrma SGS Technology; target of Rs 2050: Emkay Global Financial](https://www.moneycontrol.com/news/business/stocks/buy-syrma-sgs-technology-target-of-rs-2050-emkay-global-financial-14067418.html)
- [Syrma SGS Technology Records Strong Q2 FY27, Net Profit Surges To ₹124.2 Crore On Robust Revenue Growth](https://www.freepressjournal.in/business/syrma-sgs-technology-records-strong-q2-fy27-net-profit-surges-to-1242-crore-on-robust-revenue-growth)
- [Syrma SGS Technology Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_20274_WebXMLFile_20261105_182023960.xml)
- [Intimation under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the Listing Regulations ) for participating in Investor Meeting |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026183313_InvestorMeetIntimation16112026Signed.pdf)
- [Syrma Sgs Technology Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026183903_InvestorMeetIntimation16112026Signed.pdf)
- [Syrma Sgs Technology Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026184038_InvestorMeetIntimation16112026Signed.pdf)
- [Syrma Sgs Technology Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026183744_InvestorMeetIntimation16112026Signed.pdf)
- [Syrma Sgs Technology Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026184222_InvestorMeetIntimation16112026Signed.pdf)

### FAQs

**How did Syrma SGS Technology perform financially in Q2 FY27?**

For the quarter ended 30 September 2026, Syrma reported unaudited consolidated net profit of ₹124.2 crore, an increase of 87.2% year-on-year. Total revenue grew by 73.2% to ₹1,999.5 crore during the same period.

**What are the current analyst price targets for Syrma SGS Technology?**

Brokerages have issued varying recommendations and targets. Motilal Oswal set a 'Buy' target of ₹2,100; Emkay Global Financial set a 'Buy' target of ₹2,050; and Prabhudas Lilladher issued an 'Accumulate' recommendation with a target of ₹1,788.

**What is the stock's recent trading performance and technical trend?**

As of 6 November 2026, the stock closed at ₹1,459.30, down 3.7% from the previous close. While the monthly trend remains bullish, the daily trend is bearish with the stock currently 18.2% below its recent peak. The stock has gained +85.0% over the past year but is down -13.4% over the last month.

**What investor engagement events is the company participating in next week?**

Syrma SGS Technology has scheduled five institutional investor meetings between 16 and 18 November 2026. These include a Non-Deal Roadshow with HSBC in Hong Kong on 16 November, and participation in events by CLSA, 360 ONE Capital, Morgan Stanley, and JM Financial in Mumbai and Singapore on 17–18 November.

- [Buy Syrma SGS Technology; target of Rs 2100: Motilal Oswal](https://www.moneycontrol.com/news/business/buy-syrma-sgs-technology-target-of-rs-2100-motilal-oswal-14067745.html)
- [Accumulate Syrma SGS Technology; target of Rs 1788: Prabhudas Lilladher](https://www.moneycontrol.com/news/business/stocks/accumulate-syrma-sgs-technology-target-of-rs-1788-prabhudas-lilladher-14067518.html)
- [Buy Syrma SGS Technology; target of Rs 2050: Emkay Global Financial](https://www.moneycontrol.com/news/business/stocks/buy-syrma-sgs-technology-target-of-rs-2050-emkay-global-financial-14067418.html)
- [Syrma SGS Technology Records Strong Q2 FY27, Net Profit Surges To ₹124.2 Crore On Robust Revenue Growth](https://www.freepressjournal.in/business/syrma-sgs-technology-records-strong-q2-fy27-net-profit-surges-to-1242-crore-on-robust-revenue-growth)
- [Syrma SGS Technology Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_20274_WebXMLFile_20261105_182023960.xml)
- [Intimation under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the Listing Regulations ) for participating in Investor Meeting |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026183313_InvestorMeetIntimation16112026Signed.pdf)
- [Syrma Sgs Technology Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026183903_InvestorMeetIntimation16112026Signed.pdf)
- [Syrma Sgs Technology Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026184038_InvestorMeetIntimation16112026Signed.pdf)
- [Syrma Sgs Technology Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026183744_InvestorMeetIntimation16112026Signed.pdf)
- [Syrma Sgs Technology Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026184222_InvestorMeetIntimation16112026Signed.pdf)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Moderate Downtrend
- Weekly trend: Weak Downtrend
- Pivot point: ₹1,525.47
- Risk regime: Price Risk Requires Attention

### Support levels
- 1462.5
- 1416.85
- 1341.6

### Resistance levels
- 1513.375
- 1543
- 1658.8

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | -3.68% |
| return_10 | +1.83% |
| return_1m | -13.40% |
| return_1y | +85.04% |
| return_20 | -13.18% |
| return_3m | +2.91% |
| return_5 | -10.21% |
| return_6m | +37.75% |
| return_since_start | +133.49% |
| return_ytd | +102.85% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -34.07% |
| annualized_volatility | +48.81% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# Syrma Sgs Technology Limited FY2026-27 Q2: Revenue up 74% year on year

Consolidated revenue from operations rose 73.6% year on year to ₹1,990 crore in Q2 FY2026-27, while profit for the period increased 87.2% to ₹124 crore. Revenue and profit also grew sequentially, by 25.2% and 17.5%, respectively, as inventories and liabilities expanded between 31 March and 30 September 2026.

## Revenue and earnings growth

Revenue from operations increased for a fourth consecutive reported quarter, rising from ₹1,264 crore in Q3 FY2025-26 and ₹1,465 crore in Q4 FY2025-26 to ₹1,589 crore in Q1 FY2026-27 and ₹1,990 crore in Q2 FY2026-27.

Expenses rose 25.4% sequentially to ₹1,834 crore, broadly in line with revenue growth. Profit before tax increased 17.3% from ₹141 crore in Q1 FY2026-27 to ₹165 crore in Q2. Tax expense rose to ₹41 crore from ₹35 crore, and profit for the period reached ₹124 crore, up from ₹106 crore. Basic earnings per share was ₹6.08, compared with ₹5.19 in Q1 FY2026-27 and ₹3.44 in Q2 FY2025-26.

## Balance sheet and working capital

Total assets stood at ₹7,074 crore on 30 September 2026, up from ₹5,770 crore on 31 March 2026. Over the same dates, equity rose from ₹3,065 crore to ₹3,293 crore, while liabilities increased from ₹2,705 crore to ₹3,781 crore.

Inventories increased to ₹1,579 crore from ₹1,062 crore, and trade receivables rose to ₹2,123 crore from ₹1,841 crore. Trade payables also increased, to ₹2,503 crore from ₹1,959 crore. At 30 September 2026, current assets were ₹5,120 crore and current liabilities were ₹3,585 crore.

Cash and cash equivalents were ₹145 crore at 30 September 2026, down from ₹192 crore at 31 March 2026. Finance costs rose 14.4% sequentially to ₹15 crore, compared with the 25.2% increase in revenue over the same period.

## Key Takeaway

Q2 FY2026-27 delivered strong year-on-year and sequential growth in revenue and profit. The expansion in inventories, receivables and liabilities, alongside lower period-end cash than at 31 March 2026, makes the larger balance-sheet position an important counterpart to the earnings growth.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +42.28%
- FII holding: +7.51%
- DII holding: +15.90%
- Mutual fund holding: +9.55%
- Retail holding: +10.93%
- Promoter pledged: +0.00%

### Major reported shareholders

- Tancom Electronics Private Limited — +32.84% (Bodies Corporate)
- Jasbir Singh Gujral — +6.48%
- Krishna Kumar Pant — +6.35%
- Ranjeet Singh Lonial — +6.21%
- Sanjiv Narayan — +4.71%
- Franklin India Small Cap Fund — +3.76%
- Tata Aia Life Insurance Co Ltd Unit Linked Multi Cap Fund — +2.67%
- Modern Die Casting Llp — +2.32% (Bodies Corporate)
- Hdfc Life Insurance Company Limited — +1.60%
- Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Small Cap Fund — +1.54%

## Official filings

- 2026-11-06 — Generic Announcement: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SYRMASGS_06112026164904_EarningsCallTranscriptReg30September3026Signed.pdf)
- 2026-11-06 — Generic Announcement: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_20274_WebXMLFile_20261106_164754757.xml)
- 2026-11-05 — Generic Announcement: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_20274_WebXMLFile_20261105_182023960.xml)
- 2026-11-05 — Generic Announcement: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026183313_InvestorMeetIntimation16112026Signed.pdf)
- 2026-11-05 — Generic Announcement: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026183903_InvestorMeetIntimation16112026Signed.pdf)
- 2026-11-05 — Generic Announcement: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026184038_InvestorMeetIntimation16112026Signed.pdf)
- 2026-11-05 — Generic Announcement: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026183744_InvestorMeetIntimation16112026Signed.pdf)
- 2026-11-05 — Generic Announcement: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SYRMASGS_05112026184222_InvestorMeetIntimation16112026Signed.pdf)
- 2026-11-02 — Generic Announcement: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_20274_WebXMLFile_20261102_183347999.xml)
- 2026-11-02 — Generic Announcement: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SYRMASGS_02112026183619_4InvestorCall_OutcomeRecording_02112026.pdf)
- 2026-10-31 — Generic Announcement: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SYRMASGS_31102026154524_Reg47NewspaperFinancialsresultOctober302026.pdf)
- 2026-10-30 — Earnings Presentation: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SYRMASGS_30102026172121_1Presentation.pdf)
- 2026-10-30 — Press Release: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SYRMASGS_30102026174253_1pressrelease.pdf)
- 2026-10-30 — Generic Announcement: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SYRMASGS_30102026174818_1GrantofESOP.pdf)
- 2026-10-30 — Financial Results Filing: Syrma Sgs Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1750521_30102026091045_WEB.xml)
- 2026-10-30 — Financial Results Filing: Syrma Sgs Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1750522_30102026091132_WEB.xml)
- 2026-10-26 — Generic Announcement: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_20274_WebXMLFile_20261026_140348304.xml)
- 2026-10-26 — Generic Announcement: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SYRMASGS_26102026140548_SyrmaSGSInvestorCallIntimationSeptember302026.pdf)
- 2026-10-22 — Board Meeting Notice: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_20274_WebXMLFile_20261022_195220322.xml)
- 2026-10-22 — Generic Announcement: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_20274_WebXMLFile_20261022_195220322.xml)
- 2026-10-22 — Board Meeting Notice: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SYRMASGS_22102026195754_SEIntimationBM301026.pdf)
- 2026-10-09 — Generic Announcement: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SYRMASGS_09102026211402_Regulation76JSep2026SyrmaSGSSigned.pdf)
- 2026-10-08 — Generic Announcement: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SYRMASGS_08102026140322_Regulation74_5_Q2202627Signed.pdf)
- 2026-09-22 — Press Release: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SYRMASGS_22092026120309_DisclosureSJMLInauguration.pdf)
- 2026-09-21 — Management Change: Syrma SGS Technology Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SYRMASGS_21092026183839_Wtdclarification21092026.pdf)

## News and market events

- 2026-11-03 — MONEYCONTROL: **Buy Syrma SGS Technology; target of Rs 2100: Motilal Oswal** — Motilal Oswal has issued a 'Buy' recommendation for Syrma SGS Technology, setting a price target of Rs 2100. The brokerage's view is presented in a news report published on Moneycontrol. — [Source](https://www.moneycontrol.com/news/business/buy-syrma-sgs-technology-target-of-rs-2100-motilal-oswal-14067745.html)
- 2026-11-03 — MONEYCONTROL: **Accumulate Syrma SGS Technology; target of Rs 1788: Prabhudas Lilladher** — Prabhudas Lilladher has issued an 'Accumulate' recommendation for Syrma SGS Technology, setting a price target of Rs 1788. The brokerage's view is presented in the context of stock market coverage on Moneycontrol. — [Source](https://www.moneycontrol.com/news/business/stocks/accumulate-syrma-sgs-technology-target-of-rs-1788-prabhudas-lilladher-14067518.html)
- 2026-11-03 — MONEYCONTROL: **Buy Syrma SGS Technology; target of Rs 2050: Emkay Global Financial** — Emkay Global Financial has issued a 'Buy' recommendation for Syrma SGS Technology, setting a target price of Rs 2050. The note is published on Moneycontrol as part of its stock market coverage. — [Source](https://www.moneycontrol.com/news/business/stocks/buy-syrma-sgs-technology-target-of-rs-2050-emkay-global-financial-14067418.html)
- 2026-10-31 — FREEPRESSJOURNAL.IN: **Syrma SGS Technology Records Strong Q2 FY27, Net Profit Surges To ₹124.2 Crore On Robust Revenue Growth** — Syrma SGS Technology reported a significant increase in its unaudited consolidated net profit for the quarter ended 30 September 2026, rising by 87.2% to ₹124.2 crore, while total revenue increased by 73.2% to ₹1,999.5 crore. — [Source](https://www.freepressjournal.in/business/syrma-sgs-technology-records-strong-q2-fy27-net-profit-surges-to-1242-crore-on-robust-revenue-growth)
- 2026-10-30 — Mint: **Dixon, Syrma clock revenue jump while chip costs rose | Company Business News** — Contract electronics manufacturers Dixon Technologies India Ltd and Syrma SGS Technology Ltd reported strong Q2 revenue growth but faced margin compression due to rising chip and component costs, with management citing persistent supply chain pressures for the next six months. — [Source](https://www.livemint.com/companies/company-results/dixon-syrma-see-chip-costs-raise-expenses-amid-resilient-demand-11793371416232.html)
- 2026-10-30 — Times of India: **Syrma SGS PAT up 87%, revenue up 73% | Chennai News - The Times of India** — Syrma SGS Technology reported a 73.2% year-on-year increase in Q2 FY27 revenue to Rs 1,999.5 crore and an 87.2% rise in PAT to Rs 124 crore. The company also raised its annual revenue growth guidance to over 35%, targeting Rs 7,000 crore for the full fiscal year. — [Source](https://timesofindia.indiatimes.com/city/chennai/syrma-sgs-pat-up-87-revenue-up-73/articleshow/135370142.cms)
- 2026-10-30 — Economic Times: **Syrma SGS reports best-ever quarter; Q2 revenue up 73% to Rs 1,999.5 crore** — Syrma SGS Technology announced a Rs 25 crore joint investment with Kaga Electronics to enhance its domestic supply ecosystem and is expanding its PCB manufacturing capabilities via a joint venture with Shinhyup Electronics. — [Source](https://economictimes.indiatimes.com/markets/stocks/earnings/syrma-sgs-reports-best-ever-quarter-q2-revenue-up-73-to-rs-1999-5-crore/articleshow/135369732.cms)
- 2026-10-30 — The Hindu: **Syrma SGS targets $1 billion next year as Q2 revenue and profitability soar** — Syrma SGS eyes $1 billion revenue next year after record Q2 FY27; strong H1 growth amid component shortages and PCB bottlenecks. — [Source](https://www.thehindubusinessline.com/info-tech/syrma-sgs-targets-1-billion-next-year-as-q2-revenue-and-profitability-soar/article71646071.ece)
- 2026-10-30 — Mint: **Diwali 2026 Top Stocks To Buy: Apollo Hospitals, GE Vernova, TARIL, TD Power, Jindal Steel, others; top 10 picks, target** — PL Capital released its top 10 stock bets for the Diwali 2026 festive season, recommending Apollo Hospitals, DLF, GE Vernova, HBL Engineering, Jindal Steel, Marine Electricals, Shilpa Medicare, Syrma SGS Technology, TARIL, and TD Power Systems. The brokerage provided specific target prices and stop-loss levels for each selected equity based on technical analysis. — [Source](https://www.livemint.com/market/stock-market-news/pl-capital-diwali-picks-apollo-hospitals-ge-vernova-taril-td-power-systems-to-jindal-steel-among-top-10-bets-for-fe-11793347304385.html)
- 2026-10-28 — BUSINESSTODAY: **Diwali Stock Picks 2026: Syrma SGS, Jindal Steel, TARIL, GE Vernova and more** — Brokerage PL Capital also known as Prabhudas Lilladher has come out with its Diwali Stock Picks for 2026. — [Source](https://www.businesstoday.in/markets/stocks/story/diwali-stock-picks-2026-syrma-sgs-jindal-steel-taril-ge-vernova-and-more-564203-2026-10-28)
- 2026-10-26 — The Hindu: **AP’s Tirupati regional investment meet draws ₹11,732 crore investment proposals** — AP’s Tirupati regional meet garners ₹11,731.68 crore in MoUs across electronics, auto components, tourism and more, promising 20,879 jobs. — [Source](https://www.thehindubusinessline.com/news/national/aps-tirupati-regional-investment-meet-draws-11732-crore-investment-proposals/article71627895.ece)
- 2026-10-12 — BUSINESSTODAY: **HAL, BSE, Meesho, Swiggy, Infy: Stocks top 4 life insurers bought, sold in September** — HAL share price, BSE share price, Meesho share price, Swiggy share price, Infosys share price — [Source](https://www.businesstoday.in/markets/stocks/story/hal-bse-meesho-swiggy-infy-stocks-top-4-life-insurers-bought-sold-in-september-561044-2026-10-12)
- 2026-10-09 — Economic Times: **Essencore partners Syrma SGS to expand local manufacturing in India** — Essencore has partnered with Syrma SGS Technology to boost local manufacturing capabilities in India. The collaboration supports Essencore's strategic India expansion efforts and affirms its commitment to Make-in-India initiatives. Additionally, the companies aim to enhance engagement in the electronics and technology ecosystem within the country. Essencore introduced its consumer brand KLEVV, which focuses on high-performance memory and storage solutions. — [Source](https://economictimes.indiatimes.com/news/company/corporate-trends/essencore-partners-syrma-sgs-to-expand-local-manufacturing-in-india/articleshow/134834839.cms)
- 2026-09-28 — MONEYCONTROL: **India is building chip capacity ahead of demand: 360 ONE prefers EMS plays over pure fabs** — chip capacity, 360 One — [Source](https://www.moneycontrol.com/news/business/markets/india-is-building-chip-capacity-ahead-of-demand-360-one-prefers-ems-plays-over-pure-fabs-14039954.html)
- 2026-09-22 — BUSINESS: **RBL Bank, Engineers India, Syrma, JSW Infra rally up to 7%; log 52-wk highs** — ACME Solar, Aegis Logistics, Aegis Vopak Terminals, Apar Ind, Ipca Labs, Laurus Labs, Shyam Metalics and Welspun Corp from the BSE 500 index also hit their respective 52-week highs in Tuesday's trade. — [Source](https://www.business-standard.com/markets/news/rbl-bank-engineers-india-syrma-jsw-infra-rally-up-to-7-log-52-wk-highs-126092200692_1.html)
- 2026-09-21 — BUSINESSTODAY: **Semiconductor stocks: Centrum's Nilesh Jain prefers CG Power, Syrma SGS; cautious on Kaynes, Dixon** — semiconductor stocks, semiconductor stocks to buy, CG Power share price, CG Power stock, Syrma SGS share price, Syrma SGS stock, CG Power target price, CG Power technical analysis, Syrma SGS target price, Syrma SGS technical analysis, semiconductor shares to buy, Kaynes Technology share price, Dixon Technologies share price, CG Power share price target, Syrma SGS share price target, semiconductor stocks to buy in India — [Source](https://www.businesstoday.in/markets/stocks/story/semiconductor-stocks-to-buy-centrums-nilesh-jain-prefers-cg-power-syrma-sgs-cautious-on-kaynes-dixon-556813-2026-09-21)
- 2026-09-18 — Mint: **SEMICON India 2026 Day 2 live updates: India need not build entire chip supply chain domestically, says Vikram Misri | Mint** — SEMICON India 2026 Day 2 focuses on India’s shift from semiconductor policy announcements to commercial chip production and ecosystem development. ASML and industry leaders highlighted growing global confidence in India, with five semiconductor projects already in commercial production. — [Source](https://www.livemint.com/technology/semicon-india-2026-day-2-live-updates-india-shifts-focus-from-semiconductor-policy-to-commercial-production-11789709711171.html)
- 2026-09-18 — BUSINESSTODAY: **Waaree, Netweb, Tata Power, Sterlite Tech among 42 stocks in Goldman Sachs’ India AI Enablers portfolio** — Waaree Energies share price, Netweb share price, Tata Power share price, Sterlite Tech share price, Adani Enterprises share price, Kaynes Tech share price, Goldman Sachs, AI Enablers — [Source](https://www.businesstoday.in/markets/stocks/story/waaree-netweb-tata-power-sterlite-tech-among-42-stocks-in-goldman-sachs-india-ai-enablers-portfolio-556362-2026-09-18)
- 2026-09-17 — The Hindu: **Tata group stocks rise after Chandrasekaran reappointment** — Tata group shares rallied on Thursday as investors assessed the leadership decision, potential Tata Sons listing and an escalating legal dispute — [Source](https://www.thehindubusinessline.com/markets/tata-group-stocks-rise-after-chandrasekaran-reappointment/article71476588.ece)
- 2026-09-17 — The Hindu: **Syrma SGS shares surge 7% as SEMICON India 2026 lifts EMS stocks** — Syrma SGS stock’s year-to-date return stands at 124.65%, sharply outpacing the Nifty 500’s decline of 5.25% over the same period — [Source](https://www.thehindubusinessline.com/markets/stock-markets/syrma-sgs-shares-surge-7-as-semicon-india-2026-lifts-ems-stocks/article71476624.ece)
- 2026-09-17 — BUSINESS: **Nifty closes above 23,250 as selective buying offsets rate hike concerns** — The key equity benchmarks inched higher on Thursday, as investors assessed the US Federal Reserve's latest policy decision and its implications for global liquidity. The Fed raised its benchmark interest rate by 25 basis points to 3.75%-4%, its first hike since 2023. The central bank's projections also kept the possibility of another rate increase this year on the table, with the latest projections showing a range of views among policymakers. — [Source](https://www.business-standard.com/markets/capital-market-news/nifty-closes-above-23-250-as-selective-buying-offsets-rate-hike-concerns-126091700944_1.html)
- 2026-09-17 — BUSINESS: **Nifty settles above 23,250 mark;  broader mrkt outperforms** — The Feds indication of another rate hike in 2026 kept investors cautious, particularly across rate-sensitive and foreign-portfolio-investment-driven segments. However, selective buying in domestic sectors helped the Nifty settled above the 23,250 mark. Market participants are likely to track currency movements, US bond yields and foreign fund flows for further direction. — [Source](https://www.business-standard.com/markets/capital-market-news/nifty-settles-above-23-250-mark-broader-mrkt-outperforms-126091700802_1.html)
- 2026-09-17 — Mint: **Why Syrma SGS Technology share price is rising today? Explained** — Syrma SGS Technology share price opened at  ₹1,513.50 apiece on NSE today, as compared to previous close of  ₹1,511.20 on Wednesday and hit an intraday high of  ₹1,658 on 17 September. — [Source](https://www.livemint.com/market/stock-market-news/why-syrma-sgs-technology-share-price-is-rising-today-explained-11789635685953.html)
- 2026-09-17 — BUSINESS: **Sensex, Nifty trade in positive terrain; pharma shares snap 5-day losing streak** — The Feds indication of another rate hike in 2026 is likely to keep investors cautious, particularly in rate-sensitive and foreign-portfolio-investment-driven segments. However, buying interest in select domestic sectors provided some support, the Nifty hovered above the 23,250 mark. Market participants are likely to track currency movements, US bond yields and foreign fund flows for further direction. — [Source](https://www.business-standard.com/markets/capital-market-news/sensex-nifty-trade-in-positive-terrain-pharma-shares-snap-5-day-losing-streak-126091700646_1.html)
- 2026-09-17 — BUSINESS: **Chip stocks spark up as SEMICON India 2026 kicks off in New Delhi** — Semiconductor and electronics manufacturing stocks were in demand on Thursday, 17 September 2026, as SEMICON India 2026 got underway at Yashobhoomi in New Delhi. — [Source](https://www.business-standard.com/markets/capital-market-news/chip-stocks-spark-up-as-semicon-india-2026-kicks-off-in-new-delhi-126091700546_1.html)

## Business profile

**Strategic vision:** Electronics design and manufacturing services provider for diverse industries.

### Business segments
- **PCBA Manufacturing:** Manufacturing infrastructure supporting up to 32-layer PCBAs for diverse industries and applications.
- **Box Build:** Supply of complete high-level assemblies, integrating PCBAs, enclosures, wire harnesses, testing, and custom packing.
- **Tester Development:** In-house design and fabrication of End-of-Line (EOL) and functional testers based on customer specifications.
- **Wire Harnesses:** Facilities capable of producing simple to complex cables with cutting, stripping, tinning, crimping, over-molding, and ultrasonic welding.
- **Injection Molding:** Capabilities with presses up to 450T for producing various plastic parts and enclosures.

### Competitive strengths
- Decades of electronics expertise
- Global network spanning more than 25 countries
- 12 state-of-the-art manufacturing facilities across India

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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/syrma
Markdown representation: https://faxioms.com/stocks/syrma?render=md