Syrma SGS Technology Ltd (BOM:543573)

Q3 2026 Syrma SGS Technology Ltd Earnings Call Transcript

Jan 30, 2026 / 05:00AM GMT

Release Date Price: ₹761.05 (+4.91%)

Transcript

Key Points

Positve

Syrma SGS Technology Ltd (BOM:543573) reported a 45% increase in Q3 sales compared to the previous year, showcasing strong revenue growth.
The company achieved a 101% growth in EBITDA, rising from INR79 crores to INR159 crores, indicating improved operational efficiency.
Exports grew by 66%, from INR202 crores to INR335 crores, highlighting the company's expanding international market presence.
The company has a robust order book visibility of approximately INR6,400 crores, providing a strong foundation for future growth.
Syrma SGS Technology Ltd received a gold rating from EcoVadis for ESG compliance, placing it among the top 5% of companies globally, which enhances its reputation and attractiveness to investors.

Negative

The company faces tariff uncertainties from the USA, which could impact future financial performance if not resolved.
The smart meter segment has not met its initial revenue guidance, with a revised expectation of INR200 crores for the year, down from the original INR300 crores.
The working capital cycle in the energy metering business is described as 'sticky,' potentially affecting cash flow and liquidity.
The company is cautious about customer selection in the energy metering business due to concerns over long cash flow cycles.
Despite strong growth, the company acknowledges potential bumps in the journey to becoming a truly global EMS company, indicating challenges ahead.

Operator

Ladies and gentlemen, good day, and welcome to Syrma SGS Technology Q3 FY26 earnings conference call hosted by Axis Capital Limited. (Operator Instructions) Please note that this conference is being recorded.

I now hand the conference over to Mr. Nikhil Kandoi from Axis Capital Limited. Thank you, and over to you, sir.

Nikhil Kandoi

Axis Capital Ltd - Analyst

Thank you, Iqra. Good morning, everyone. On behalf of Axis, I welcome you all to Q3 FY26 earnings con call of Syrma SGS Technology Limited. We have with us the entire management of the company.

At this time, I will hand over the floor to Mr. Nikhil Gupta, Head of Investor Relations of Syrma to take the proceeding forward. Thank you.

Nikhil Gupta

Syrma SGS Technology Ltd - Head - Investor Relations

Yeah. Thank you, Nikhil. A very good morning to everyone. Welcome to Syrma SGS third-quarter financial year 2026 earnings call.

We have with us today Mr. J. S. Gujral, Managing Director; Mr. Jayesh Doshi, Director; Mr. Satendra Singh,

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