Syrma SGS Technology (SYRMA) Q4 24/25 earnings summary

Executive summary

• Achieved FY25 consolidated revenue of ₹38,361 million, up 19% year-over-year, with strong growth in auto, industrial, and IT segments.

• Operating EBITDA rose 48% YoY to ₹3,238 million, with margin expanding to 9.7%; PAT increased 48% YoY to ₹1,845 million.

• Strategic shift reduced consumer business to 35% of revenue, targeting 30% in FY26, and added 20-25 new customers.

• Commissioned new manufacturing facilities in Pune and Germany, and established a MedTech design center.

• ESG initiatives recognized by EcoVadis and SBTI registration, with >40% women workforce.

Financial highlights

• FY25 consolidated revenue: ₹38,361 million (+19% YoY); Q4 revenue: ₹9,466 million (+18% YoY).

• FY25 operating EBITDA: ₹3,238 million (8.6%-9.7% margin), up 48% YoY; PAT: ₹1,845 million (4.8% margin), up 48% YoY.

• Free cash flow generated at ₹1,765 million; net working capital at 69 days.

• Export revenue for FY25 at ₹8,600 million (23% of total), with target to cross ₹10,000 million in FY26.

• Standalone revenue for FY25 was ₹22,777.50 million; standalone PAT was ₹797.28 million.

Outlook and guidance

• FY26 revenue growth guided at 30-35% with EBITDA margin of ~8%.

• Consumer business to be reduced to 30% of revenue, with focus on high-margin industrial, automotive, and healthcare segments.

• Exports expected to exceed ₹10,000 million in FY26, driven by new customers and European rebound.

• Board approved raising up to ₹10,000 million via QIP or other modes for expansion.

• Expansion into new manufacturing verticals through new subsidiaries is expected to enhance product offerings.