India · Delayed Price · Currency is INR Syrma SGS Technology Earnings Call Transcripts
Fiscal Year 2026
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FY 2026 saw robust revenue and profit growth, margin expansion, and improved cash position, with all key segments delivering double-digit growth. FY 2027 guidance targets 35% revenue growth and INR 700 crore EBITDA, supported by a strong order book and new customer additions.
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Q3 FY26 delivered 45% revenue growth and doubled EBITDA, with exports up 66% and all verticals contributing. The company raised full-year EBITDA guidance, completed the Elcome acquisition, and is expanding capacity, supported by a strong order book and positive cash flow.
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Q2 FY2026 saw record EBITDA, margin expansion, and 37% revenue growth year-over-year, driven by strong performance in auto, industrial, and IT segments, as well as strategic acquisitions and new long-term contracts. Guidance for 30% organic revenue growth and higher EBITDA margins is reaffirmed, with robust order book and export momentum.
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Q1 FY26 saw strong revenue and margin growth, driven by a strategic shift toward high-margin segments and robust export performance. The company is confident in achieving 30%-35% annual revenue growth, with a major PCB JV underway and working capital efficiency targeted to improve.
Fiscal Year 2025
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FY25 revenue grew 19% to INR 3,338 crore, with EBITDA margin expanding to 8.6%. Strategic focus shifted to high-margin industrial and automotive segments, reducing consumer business to 35%. FY26 guidance targets 30-35% revenue growth and 8% EBITDA margin.
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Q3 FY25 saw 24% year-on-year revenue growth and a strong margin rebound, with operating EBITDA margin at 9.1% for the quarter and 7.2% for nine months, exceeding guidance. Export growth was muted due to Europe, but industrial and automotive segments drove performance, and MedTech is expected to rebound next year.
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Q2 FY25 saw 17% revenue growth and 46% EBITDA growth year-on-year, with exports rebounding to 23% of revenue. Full-year guidance is maintained at INR 4,500 crore revenue and 7% EBITDA margin, with strong order book and capacity expansion supporting future growth.
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Q1 FY25 saw 92% year-over-year sales growth and 26% EBITDA growth, with strong order inflow and reduced working capital days. Management maintains FY25 guidance of 40%-45% revenue and EBITDA growth, expecting margin improvement as the product mix shifts toward higher-margin segments.