Syrma SGS Technology (SYRMA) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 revenue reached ₹8,915 million, up 24% year-on-year and 6% sequentially; nine-month revenue at ₹28,973 million, up 40% year-on-year.

• Q3 FY25 net profit (PAT) was ₹530 million, a 161% increase year-on-year and 34% higher than Q2 FY25; PAT margin for the quarter was 6%.

• Operating EBITDA margin for Q3 was 11.4%, and for nine months, 7.2%, both exceeding guidance.

• Export revenue accounted for 23% of Q3 FY25 revenue, impacted by weakness in Germany but expected to rebound in FY26.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2024 were approved and reviewed by the Board and auditors, with no material misstatements noted.

Financial highlights

• Q3 FY25 EBITDA was ₹1,013 million, up 96% year-on-year, with an EBITDA margin of 11.4%.

• Q3 FY25 PBT was ₹657 million, up 144% year-on-year; nine-month PBT was ₹1,460 million.

• Gross profit for Q3 FY25 was ₹2,319 million, up 43% year-on-year, with a margin of 26.7%.

• PAT for Q3: ₹530 million; nine-month PAT: ₹1,130 million.

• Export revenue as a share of operations increased to 23% in Q3 FY25 from 20% in 9M FY25.

Outlook and guidance

• FY25 EBITDA guidance of 7% margin (₹3,050-3,100 million) reaffirmed; FY26 expected revenue growth of 30-35% with margin improvement.

• Long-term export revenue target set at 25-30% of total revenue.

• MedTech business expected to rebound in Q1 FY26; industrial and automotive segments to drive future growth.

• Asset turn expected to improve to 6x; ROCE targeted at 18-20% by FY27.

• Management highlighted forward-looking statements are subject to regulatory, competitive, and macroeconomic uncertainties.