Syrma SGS Technology

** Shares of electronic manufacturing services (EMS) cos up between 0.6% and 7.2%

** Dixon Technologies DIXO.NS leads the pack; shares up 7.2% at 14,635 rupees

** Cyient DLM CYIT.NS up 2,75% at 553.3 rupees and Kaynes Technology KAYN.NS up 2.7% at 3,425 rupees

** Syrma SGS Technology SYRM.NS up 1.5% at 1,425 rupees, Amber Enterprises AMBE.NS up 0.6% at 7,896.5 rupees

** India government approves 625 billion rupee mobile manufacturing scheme to boost production and global competitiveness

** Expands key semiconductor programme with ​fresh capital of 1.28 trillion rupees ($13.30 billion)

** Motilal Oswal believes both these initiatives enhance supply chain resilience and position India as global electronics hub

** Mobile scheme to improve margins and customer stickiness, particularly benefiting DIXO - Motilal

** JP Morgan echoes view; says DIXO stands to benefit most , forecasts 4-5 million export volume upside

($1 = 96.2200 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru)

(([email protected];))

** Shares of Indian electronics manufacturing services providers gain after waiver of duty on some mobile phone components

** India has waived basic customs duty on goods used to make display assemblies and inductor coil modules used in mobile phones for wireless charging

** The move aims to support domestic production, with the customs duty relief remaining in force until March 31, 2029, giving manufacturers time to plan investments and expand local output of these components

** Dixon Technologies (India) DIXO.NS jumps 4.5%, Amber Enterprises India AMBE.NS rises 2.9%, and Syrma SGS Technology SYRM.NS gains 2.9%

** YTD, DIXO up ~12%, AMBE up ~20% and SYRM up ~92%

(Reporting by Vijay Malkar)

(([email protected];))

** Shares of India's Syrma SGS Technology SYRM.NS rise 3.72% to 1,448.10 rupees

** Antique Stock Broking maintains "buy" and raises target price to 1,601 rupees from 1,310 rupees, citing strategic partnerships and margin expansion

** Brokerage says JV with Japan's Kaga Electronics opens access to Japanese market, while other partnerships strengthen capabilities in high-margin electronics and multilayer printed circuit boards

** Sees revenue and EBITDA growing at 29% and 30% CAGR, respectively, through FY26-FY28, supported by expanding order book

** Expects strategic initiatives to transform company from volume-led electronics manufacturing services player into higher-margin manufacturing platform

** YTD, Syrma stock up 98.16%

(Reporting by Surbhi Misra in Bengaluru)

(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))

Syrma SGS Technology announced the appointment of Jaidit Singh Brar as its new chief executive officer, effective June 29, 2026. Brar, an MBA from IIM Calcutta and former senior partner at McKinsey & Company, brings over 25 years of experience in consulting and industry. The outgoing CEO, Satendra Singh, will move into the role of Senior Operating Director, ensuring continuity. The change was approved by the board on June 26, 2026. Brar also serves as an independent director on the boards of Exide Industries and Tenneco Clean Air. The appointment signals a leadership transition at the electronics manufacturing services firm.

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June 26 (Reuters) - Syrma SGS Technology Ltd SYRM.NS:

• SYRMA SGS TECHNOLOGY LTD- APPOINTED JAIDIT SINGH BRAR AS CHIEF EXECUTIVE OFFICER

Source text: ID:nBSE1gC206

Further company coverage: SYRM.NS

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** Shares of Syrma SGS SYRM.NS up 3.1% at 1,378 rupees, stock set for second straight session of gains

** Electronic manufacturing services co and Japan's Kaga Electronics enter manufacturing agreement to establish EMS facility in India

** Co to hold up to 60% stake in proposed JV company, while Kaga will hold up to 40% stake

** Stock rated as "Buy" on average by 22 analysts; median PT at 1,184 rupees - LSEG compiled data

** YTD, stock up 87.1%

(Reporting by Mridula Kumar in Bengaluru)

(([email protected];))

Syrma SGS Technology has signed an agreement with Kaga Electronics India Private Limited to form a joint venture that will build and operate a technologically advanced electronics manufacturing services (EMS) facility in India, targeting Japanese clients. Under the terms, Syrma SGS will hold a 60% stake and Kaga the remaining 40%, with an initial equity investment of about ₹15 crores from Syrma SGS and ₹10 crores from Kaga. The joint venture company will be incorporated after customary conditions and closing procedures are met. The board of the new entity will have four directors, two nominated by each party.

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** Shares of India's Syrma SGS Technology SYRM.NS up as much as 5.96% at 1178.95 rupees, set for a seventh straight session of gains

** Electronic manufacturing services co posts profit of 1.01 billion rupees ($10.57 million) in Q4, up 55% Y/Y

** Investec ("buy"; TP:945 rupees) says revenue and profit growth aided by operating leverage, improving margins and robust growth across key business segments

** Adds that better working capital management and higher profitability helped improve return on invested capital

** Jefferies ("buy"; TP:970 rupees) says Q4 results driven by strong sales growth, margin expansion and robust performance across key segments including auto, healthcare and industrials; sees 40% earnings CAGR over FY25-28.

** SYRM rated "buy" on avg, median PT is 941 rupees - data compiled by LSEG

** YTD, stock up ~52%

($1 = 95.5650 Indian rupees)

(Reporting by Devika Nair in Bengaluru)

(([email protected];))

May 11 (Reuters) - Syrma SGS Technology Ltd SYRM.NS:

• SYRMA SGS TECHNOLOGY LTD MARCH-QUARTER CONSOL NET PROFIT 1.01 BILLION RUPEES

• SYRMA SGS TECHNOLOGY LTD MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 14.65 BILLION RUPEES

• SYRMA SGS TECHNOLOGY LTD - DIVIDEND OF 1.50 RUPEES PER SHARE

Source text: [ID:]

Further company coverage: SYRM.NS

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** Shares of India's Syrma SGS Technology SYRM.NS jump 6.16% to 792.30 rupees

** Investec upgrades stock to "buy", raises TP to 945 rupees from 885 rupees citing corrective steps over past 18 months like curtailing low-margin telecom business and scaling exports and non-consumer segments

** Brokerage says benefits visible in revenue growth and margin expansion, sees EBITDA margins sustaining above 10% with improving return ratios

** Adds valuation at about 26 times FY28 estimated earnings remains attractive as earnings outlook improves

** Stock rated "buy" on average by 33 analysts, median PT at 934.50 rupees-- LSEG data

** YTD, stock up 1.75%

(Reporting by Surbhi Misra in Bengaluru)

(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))

March 23 (Reuters) - Syrma SGS Technology Ltd SYRM.NS:

• SYRMA SGS TECHNOLOGY LTD - APPOINTS JAYESH NAGINDAS DOSHI AS WHOLE TIME DIRECTOR FOR 5 YEARS

Source text: ID:nBSEbsZ8RH

Further company coverage: SYRM.NS

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** India's electronics manufacturing services (EMS) sector growth story remains intact despite a sharp 8%–35% correction in recent months, J.P. Morgan says

** In the sector, all stocks except Dixon Technologies Ltd DIXO.NS are expected to deliver 20%–25% revenue growth over FY26–28E, analysts at J.P. Morgan say

** See evidence of the sector upping value addition, evolving from finished product assembly to component and PCB manufacturing - JPM

** Syrma SGS Technology Ltd SYRM.NS remains J.P. Morgan's top pick in the sector, followed by Dixon

** Says with high conviction on revenue path, valuation discount and consumer electronics upcycle, see Syrma as the best risk-reward among the EMS names

** YTD, DIXO down 14.5%, KAYN down ~10% and SYRM up about 2%

(Reporting by Brijesh Patel in Bengaluru)

(([email protected]; Ph no. +91 9590227221;))

** Shares of Syrma SGS Technology SYRM.NS rise 6.5% to 819.90 rupees

** Morgan Stanley upgrades rating to 'overweight' from 'equal-weight'; raises price target to 992 rupees from 712 rupees

** Morgan Stanley says we turn constructive due to relative resilience in revenue growth, improving margins, and healthy net working capital

** Adds, SYRM's exports rose to 25% of revenues vs 20% year ago, despite macro headwinds

** Tie-up with tech partner Shinhyup (Korean entity) could aid capability building and drive offtake as well - Morgan Stanley says

** Gains in stock also supported by India-U.S. trade deal

** Trading vols at 2.9 mln shares so far, over 2x the 30-day average

** SYRM rose ~24% in 2025

(Reporting by Vijay Malkar)

(([email protected];))

** India's electronics manufacturing services sector seen benefiting from federal budget's pivot toward higher value addition and backward integration, brokerages say

** Government proposed increasing outlay for Electronic Components Manufacturing Scheme by 400 billion rupees ($4.36 billion), scaling up manufacturing and boosting semiconductor development

** CLSA says the budget marks a "pivot point" for electronics manufacturing, government allocation supports domestic component manufacturing and integration but flags near-term risks from lower smartphone assembly incentives

** Jefferies says higher allocation supports the medium-term outlook for electronic companies, but flags execution timelines and the expiry of assembly-linked incentives as near-term risks for some players

** Nomura flags continued policy support for electronics and semiconductors in the budget as a key positive within a fiscally restrained framework

** Dixon Technologies DIXO.NS flat, Kaynes Technology India KAYN.NS down 5%, Syrma SGS up 0.73% and Amber Enterprises AMBE.NS down 2.7% on the day

($1 = 91.7125 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru)

(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))

Updates

** Shares of Indian electronics manufacturing services firms Dixon Technologies DIXO.NS, Kaynes Technology KAYN.NS, Syrma SGSSYRM.NS, Amber Enterprises AMBE.NS rise

** Stocks gain between 3.25% and 4.83% after government proposes increasing outlay for electronic components manufacturing by 400 billion rupees ($4.36 billion)in federal budget

** Government also proposes scaling up manufacturing and boosting semiconductor development

** EMS firms are seen as key beneficiaries of India's push to localise electronics manufacturing

($1 = 91.6710 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru)

(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))

Jan 29 (Reuters) - Syrma SGS Technology Ltd SYRM.NS:

• DEC-QUARTER CONSOL NET PROFIT 1.03 BILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 12.64 BILLION RUPEES

Source text: ID:nBSE2TcyFw

Further company coverage: SYRM.NS

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** Jefferies expects Indian electronics manufacturing services (EMS) firms to deliver strong earnings per share with CAGR of 44% between FY25 and FY28, based on execution

** Indian government's component manufacturing production-linked incentive (PLI) scheme has benefited companies in the segment, according to analysts at Jefferies

** Brokerage prefers Indian component makers over original equipment manufacturers in 2026

** It estimates total capex of Amber Enterprises AMBE.NS, Syrma SGS Technology SYRM.NS, Kaynes Technology India KAYN.NS and Dixon Technologies DIXO.NS to be ~100 bln rupees between FY26 and FY28; RoCE at 15-17%

** AMBE down 0.6%, KAYN and DIXO slip 5.8% and 2.5%, respectively while SYRM adds 0.2%

** Brokerage's top picks:

(Reporting by Abhirami G in Bengaluru)

(([email protected]))

** Syrma SGS Technology SYRM.NS rises as much as 5.98% to 856.4 rupees; last up 4%

** Electronics manufacturer posts 77% surge in net profit in September quarter

** Morgan Stanley, Jefferies attribute strong results to rising sales, lower interest costs, improving product mix

** Macquarie sees results as beat in profitability terms vs brokerages' expectations

** Meanwhile, co planning to buy majority stake in Elcome Integrated systems, marking foray into defence, maritime business

** SYRM gains 43.5% YTD

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

Nov 10 (Reuters) - Syrma SGS Technology SYRM.NS:

• SEPT-QUARTER CONSOL NET PROFIT 640.6 MILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 11.46 BILLION RUPEES

Source text: ID:nBSE9PVwn0

Further company coverage: SYRM.NS

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** Syrma SGS Technology SYRM.NS jumps 4.2% to a record high of 824 rupees, set for sixth straight session of gains

** Andhra Pradesh government approves a 8.56 bln rupees ($97.8 mln) incentive package for co for a mega printed circuit board plant, news website Moneycontrol reports citing sources

** Report adds, project to be commissioned by October 2026 and is expected to add 62 bln rupees to top line of Syrma in FY 2027

** Syrma did not immediately respond to a request for comment

** Avg rating of 23 analysts is "buy", median PT is 750 rupees-LSEG data

** YTD stock up ~34%

($1 = 87.5060 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru)

(([email protected];))

** Syrma SGS Technology SYRM.NS rises 2% to 735 rupees

** JPMorgan maintains "overweight"; raises PT to 950 rupees from 880 rupees, implying 32% upside from last close

** Expects co to be third-fastest growing EMS firm in India

** Forecasts 30% revenue CAGR over FY25–28, led by industrial, automotive segments

** Bakes in 10 bln-rupee ($115 mln) QIP at 699 rupees/share, citing higher interest income, increased share count

** Raises FY26–28 EPS forecasts by 5%–9% on QIP proceeds, with additional upside if new acquisitions occur

** Stock rated "buy" on avg; median PT is 750 rupees, per data compiled by LSEG

** SYRM gains 24.4% YTD

($1 = 86.9437 Indian rupees)

(Reporting by Rudra Pratap Singh in Bengaluru)

(([email protected]))

Aug 12 (Reuters) - Syrma SGS Technology Ltd SYRM.NS:

• SYRMA SGS TECHNOLOGY - APPROVED QIP ISSUE PRICE OF 699 RUPEESPER SHARE

Source text: ID:nNSE8XkVHk

Further company coverage: SYRM.NS

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** J.P. Morgan expects India’s electronic manufacturing services (EMS) sector to grow rapidly, supported by the Make in India push, rising electronics demand, and global supply chain shifts under the China+1 strategy

** Initiates coverage of Syrma SSG Technology SYRM.NS, Dixon Technologies DIXO.NS and Kaynes Technology KAYN.NS at "overweight"

** Brokerage expects EMS to continue its strong growth and forecasts a 32% revenue CAGR over FY25-30E, as it takes an increasing share of domestic electronics production

** Adds, outsourced semiconductor assembly and testing and printed circuit board manufacturing as emerging opportunities, with exports poised to be the next frontier

** Shares of SYRM, DIXO and KAYN rise between 2% and 3.1%

(Reporting by Rudra Pratap Singh in Bengaluru)

(([email protected]))

** Syrma SGS Technology SYRM.NS falls 6.5% to 526.9 rupees, and is the biggest pct loser among Nifty 500 .NIFTY500 stocks

** The electronics design co's fourth-quarter revenue falls 18% y/y on weakness in consumer and healthcare segments

** More than 3.2 million shares change hands on the day, ~2x six-month average daily volume

** Analysts, on average, rate the stock as "buy"; median PT 555 rupees, as per data compiled by LSEG

** YTD, SYRM stock down 11%

(Reporting by Vivek Kumar M)

(([email protected];))

** Shares of Syrma SGS Technology SYRM.NS rise 2% to 426.7 rupees

** Investec upgrades rating on co to "hold" from "sell"; maintains PT of 460 rupees

** The brokerage says rating upgrade post sharp share price correction, sees reasonable valuation

** Adds, co valued 25x its projected price-to-earnings ratio for FY27

** 19 analysts covering the stock on avg have a "buy" rating; median PT is 580 rupees - data compiled by LSEG

** Stock down 29% YTD

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

** Shares of Syrma SGS Technology SYRM.NS jump by an exchange-allowed maximum of 20% to touch 505.10 rupees

** Electronics design co's Q3 consol net profit jumps over three-fold to 487.9 mln rupees ($5.6 mln), driven by strength in auto and industrial segments

** Stock on track to log busiest trading session in three months, volumes at 7.1x the 30-day avg

** Still, SYRM down ~14% for the month, on track to log biggest monthly fall since listing in August 2022

** Nifty 500 .NIFTY500, which SYRM is a constituent of, is down ~5% so far in Jan

($1 = 86.5725 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

Jan 10 (Reuters) - Syrma SGS Technology Ltd SYRM.NS:

• MSI SELECTS SYRMA SGS TO MANUFACTURE 'MAKE IN INDIA' LAPTOPS

Source text: ID:nBSE3Pckqq

Further company coverage: SYRM.NS

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** Shares of Syrma SGS Technology SYRM.NS gain 12.5% to 486 rupees, eye best day since late May

** Stock closed 13.9% higher in previous session on posting 30% Y/Y rise in Q2 consol profit after tax

** BOB Capital Markets hikes TP on stock to 480 rupees from 450 rupees, 11% premium to last close; keeps "hold"

** Says co's auto and healthcare business, which led growth in Q2, will drive future growth

** Motilal Oswal expects recovery in margins to continue, fuelled by higher exports, design and manufacturing businesses

** Co faces margin challenges as consumer segment, which comprises 35%-38% of topline, operates with lower margins, according to BOB Capital; management aims to lower this segment's share

** Analysts' rating on stock "buy", median PT 510 rupees - LSEG data

** Stock down ~27% YTD

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

Oct 17 (Reuters) - Syrma SGS Technology Ltd SYRM.NS:

• TO INAUGURATE NEW MANUFACTURING FACILITY AT PUNE, MAHARASHTRA

Source text for Eikon: ID:nBSE9Gx1jK

Further company coverage: SYRM.NS

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** Shares of electronic systems maker Syrma SGS Technology SYRM.NS fall as much as 9.3% to 423 rupees, hits lowest level since June 5

** SYRM on Monday reported a 32.3% fall in consolidated net profit to 193 million rupees

** Missed analyst estimates of 289 million rupees, per LSEG data

** Gross margins contracted by 7 percentage points (ppt) to 15% year-on-year, likely on mix change and intense competition, Investec analysts noted

** Despite operating leverage benefits, EBITDA margins stood at 3.8%, contracting by 2.3 ppt year-on-year - Investec

** Stock last down 1.6%, taking YTD losses to 31.4%

(Reporting by Anisha Ajith in Bengaluru)

(([email protected];))