Syrma SGS Technology reported its strongest-ever quarterly performance in the September 2026 quarter, with revenue rising 73.2% and net profit jumping 87.2% year-on-year. Growth across automotive, industrial, consumer electronics and export businesses helped the electronics manufacturing company bring quarterly revenue close to the ₹2,000-crore mark.
The company reported consolidated revenue of ₹1,999.5 crore for the second quarter of the 2026-27 financial year, compared with ₹1,154.6 crore in the corresponding period last year. Net profit increased to ₹124.2 crore from ₹66.3 crore, reflecting stronger business volumes and improved performance across several operating segments.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 63.9% to ₹203.1 crore, against ₹124 crore a year earlier. The company’s EBITDA margin, however, stood at 10.2%, compared with 10.7% in the year-ago quarter and 11% in the preceding June quarter. Its profit after tax margin improved to 6.2% from 5.7% a year ago, although it was lower than the 6.6% recorded in Q1 FY27.
Automotive and industrial businesses were among the biggest contributors to the growth. Revenue from the automotive segment climbed 91% year-on-year to ₹516.9 crore, accounting for 26% of operating revenue. The industrial segment also delivered a strong performance, with revenue increasing 86% to ₹493.5 crore and contributing 25% to the total.
Consumer electronics remained the company’s largest segment by revenue. It recorded a 57% increase to ₹572.7 crore, accounting for 29% of operating revenue. Its share was lower than the 32% reported in the same quarter last year, as other businesses expanded at a faster pace.
Revenue from information technology and railways rose 69% to ₹272.7 crore, contributing around 14% of operating revenue. The healthcare business grew 61% to ₹134 crore. The performance highlights the company’s presence across a wide range of electronics manufacturing markets, including automotive components, industrial equipment, consumer products, medical devices and railway systems.
Exports provided another important source of momentum. Syrma SGS recorded export revenue of ₹513.8 crore during the quarter, a 91% increase from the year-ago period. Exports accounted for 26% of operating revenue, reflecting stronger demand from international customers and the company’s expanding global business.
Managing Director Jasbir Singh Gujral said the company had crossed the ₹2,000-crore quarterly revenue milestone despite industry-wide component constraints. He said the business had met customer commitments while bringing working capital down to 63 days. The company also turned its operating cash flow positive during the first half of the financial year.
For the six months ended September 2026, consolidated revenue increased 70.9% to ₹3,603.2 crore from ₹2,108.7 crore in the corresponding period last year. EBITDA rose 67.6% to ₹379.8 crore, while net profit nearly doubled, increasing 97.7% to ₹229.9 crore from ₹116.3 crore.
First-half export revenue grew 80% to ₹901.2 crore and accounted for 25% of operating revenue. The company reported net operating cash flow of ₹119.7 crore in the first half, compared with an outflow of ₹124.1 crore in the same period last year. Its profit after tax margin improved to 6.4% from 5.5%, while EBITDA margin was 10.5%, against 10.7% a year earlier.
The company is also expanding its manufacturing and technology capabilities. Its joint venture with Italy-based Elemaster inaugurated a new facility in Bengaluru, aimed at strengthening production capacity and its presence in high-growth sectors. Its subsidiary, Syrma Johari MedTech, opened a medical plastics and precision moulding facility in Jodhpur to support medical-device manufacturing programmes.
Syrma SGS said it would continue to expand its international footprint, develop specialised and technology-intensive businesses and advance its printed circuit board (PCB) project. The PCB initiative is expected to become another pillar of its manufacturing business as demand for locally produced electronic components grows.
The results come at a time when India’s electronics manufacturing services industry is benefiting from demand for domestic production, supply-chain diversification and rising requirements across automotive and industrial applications. Syrma SGS serves more than 270 customers across over 20 countries, with manufacturing facilities in several Indian cities and research and development centres in India and Germany.
The September quarter’s performance points to broad-based growth rather than dependence on a single business. However, the sequential moderation in operating margins indicates that cost pressures and execution will remain important factors to watch as the company scales up. Its ability to manage component availability, working capital and new capacity will be central to sustaining the current growth momentum.