⚡📱 Syrma SGS Technology Ltd.
Quick Company Snapshot (FY26)
🏢 Company Overview
🔹 Chennai-based Electronics Manufacturing Services (EMS) company
🔹 Established in 2004 with roots dating back to the late 1970s through the Tandon Group
🔹 Provides end-to-end product design, engineering, manufacturing, and technology solutions to global and Indian OEMs.
🚀 Key Business Segments
🔧 Electronic Manufacturing Services (EMS)
✔ PCB Assembly (PCBA)
✔ Box Build Solutions
✔ Product Design & Development
📡 RFID Solutions
✔ Smart Labels
✔ NFC, UHF, HF & LF Transponders
✔ Anti-Counterfeiting Solutions
💻 Engineering & Technology Services
✔ Product Engineering
✔ Embedded Systems
🏥 MedTech ODM Solutions
✔ Medical Electronics Manufacturing
⚡ Magnetics
✔ Transformers & Magnetic Components
🏭 Manufacturing Strength
📍 16 Manufacturing Facilities
| Region | Facilities |
|---|---|
| North India | 9 |
| South India | 5 |
| West India | 2 |
🏗 Total Manufacturing Area:
11.6 Lakh Sq. Ft.
🌍 Presence in:
✔ India
✔ Germany (R&D Centre)
🔬 R&D Capabilities
🔹 4 R&D Centers
📍 Chennai
📍 Gurgaon
📍 Pune
📍 Stuttgart (Germany)
💰 FY25 R&D Spend:
0.13% of Expenses
📊 Revenue Mix (9MFY26)
🛒 Consumer Electronics – 32%
🏭 Industrial – 28%
🚗 Automotive – 24%
🏥 Healthcare – 8%
🚆 IT & Railways – 8%
🌏 Geographic Revenue Split
🇮🇳 Domestic Business: 75%
🌍 Exports: 25%
🤝 Customer Diversification
| Category | Contribution |
|---|---|
| Top 5 Customers | 45% |
| Top 10 Customers | 57% |
| Top 20 Customers | 71% |
⭐ Key Customers
🚗 TVS Motor
🚿 AO Smith
⚙ Bosch
🏠 Eureka Forbes
💡 Atomberg
🧴 Hindustan Unilever
🔌 Total Power Europe
💻 Laptop Manufacturing Opportunity
🤝 Partnership with MSI
📍 Chennai Plant
✔ Laptop Manufacturing for India
✔ Technology Transfer from MSI
✔ Progressive Localization Strategy
📈 Strong Order Book
📅 Sept 2025 Order Book
💰 ₹5,800 Crore
Segment-wise Contribution
🚗 Automotive – 35%+
🏭 Industrial & Consumer – 35%
🏥 Healthcare – 6-7%
🚆 IT & Railways – Balance
🎯 FY26 Growth Guidance
Revenue Target
💰 ₹6,000 – ₹6,500 Crore
📈 Revenue Growth: 30–35%
📊 EBITDA Margin Expansion Expected
🔥 Major Strategic Initiatives
1️⃣ Elcome Acquisition
💰 Acquired 60% stake
💵 Investment: ₹235 Crore
2️⃣ Solar Inverter Business
🤝 Joint Venture with Premier Energies
⚡ Ksolare acquisition process underway
3️⃣ Elemaster JV
🌍 International Electronics Manufacturing Partnership
4️⃣ PCB Manufacturing Venture
🤝 Partner: Shinhyup (South Korea)
Ownership Structure:
🟢 Syrma SGS – 75%
🟡 Shinhyup – 25%
💰 Capital Infusion: ₹45 Crore
✅ PLI Approval Received
✅ State Incentive Approval Received
💸 QIP Fund Raise
📅 Aug 2025
💰 Raised Nearly ₹1,000 Crore
📈 Issued ~1.4 Crore Shares
💵 Issue Price: ₹699 per Share
⚔ Competitive Landscape
Major Competitors:
🔹 Dixon Technologies
🔹 Foxconn India
🔹 Jabil
🔹 Flextronics
🔹 Elin Electronics
🔹 Cyient DLM
🔹 NTL Electronics
📌 Investment Highlights
✅ Strong EMS industry tailwinds
✅ Diversified customer base
✅ Growing exports business
✅ Robust ₹5,800 Cr order book
✅ Expansion into Laptop Manufacturing
✅ PCB Manufacturing under PLI Scheme
✅ Strategic acquisitions & JVs
✅ Positioned to benefit from "Make in India" & Electronics Manufacturing growth
📊 Syrma SGS at a Glance
🟢 Order Book: ₹5,800 Cr
🟢 FY26 Revenue Target: ₹6,000–6,500 Cr
🟢 Manufacturing Units: 16
🟢 Export Revenue: 25%
🟢 R&D Centers: 4
🟢 Key Growth Drivers: EMS, RFID, Laptops, PCB Manufacturing, Solar Electronics
🚀 Syrma SGS is emerging as one of India's fastest-growing EMS players, benefiting from electronics manufacturing localization, PLI incentives, and rising demand across automotive, industrial, healthcare, and consumer electronics sectors.
🏗️🚀 Cemindia Projects Ltd.
(Formerly ITD Cementation India Ltd.) – FY26 Snapshot
🏢 Company Overview
🔹 One of India's leading Infrastructure EPC Companies
🔹 Over 90 Years of Engineering & Construction Expertise
🔹 Founded in India in 1931
🔹 Acquired by the Adani Group in May 2025 and renamed Cemindia Projects Ltd.
🤝 New Promoter – Adani Group
📌 Ownership Change
✅ Adani Group's Renew Exim DMCC acquired:
🔹 46.6% stake from previous promoters
🔹 Additional 20.83% via Open Offer
💰 Open Offer Price: ₹571.68/share
📅 Effective Control: May 2025
🌟 Diverse Business Portfolio
🚢 Maritime Structures (33%)
✔ Ports
✔ LNG Terminals
✔ Jetties
✔ Breakwaters
✔ Dredging Projects
Major Projects
⚓ Vadhvan Port
⚓ Vizhinjam Port
⚓ Dahej LNG Terminal
⚓ Colombo Container Terminal
🚇 Urban Infrastructure (23%)
✔ Metro Rail
✔ Underground Tunnels
✔ Airport Infrastructure
Key Cities
🚇 Mumbai
🚇 Chennai
🚇 Bengaluru
🚇 Kolkata
🚇 Pune
🛣️ Highways, Bridges & Flyovers (13%)
✔ National Highways
✔ Flyovers
✔ Road EPC Projects
Major Client
🏗️ Adani Road Transport
🏭 Industrial Structures (16%)
✔ Commercial Buildings
✔ Power Plants
✔ Mining Infrastructure
✔ Residential Projects
💻 Data Centres (7%)
📡 End-to-End Data Centre EPC
🏢 Current Project:
Adani Infra Data Centre (Maharashtra)
💧 Hydro, Dams & Irrigation (4%)
⚡ Hydropower Projects
🚇 Railway Tunnels
💦 Water Conveyance Systems
🏗️ Foundation Engineering (2%)
✔ Piling
✔ Diaphragm Walls
✔ Ground Improvement
✔ Rock Anchoring
🚰 Water & Wastewater (2%)
✔ Sewerage Systems
✔ Water Treatment Plants
✔ Drainage Infrastructure
📊 Massive Order Book
FY26 Highlights
💰 Order Inflow
📈 ₹14,821 Crore
📦 Total Order Book
🔥 ₹24,545 Crore
Projects
🏗️ 80+ Active Projects
👥 30+ Customers
🌎 Geographic Presence
Revenue Distribution
🇮🇳 India: 97%
🌍 International: 3%
Presence
✅ 16 Indian States
🌍 Sri Lanka
🌍 Bangladesh
🌍 UAE
👥 Customer Diversification
| Customer Category | FY26 |
|---|---|
| Top Customer | 14% |
| Top 5 Customers | 41% |
✅ Reduced Customer Concentration
✅ Better Risk Diversification
📋 Order Book Mix
By Customer
🏢 Private Sector – 58%
🏛️ Government – 36%
🏭 PSUs – 6%
By Sector
🚢 Maritime Structures – 33%
🚇 Urban Infrastructure – 23%
🏭 Industrial Buildings – 16%
🛣️ Roads & Bridges – 13%
💻 Data Centres – 7%
💧 Hydro & Irrigation – 4%
🏗️ Foundation Engineering – 2%
🚰 Water Projects – 2%
⚙️ Strong Equipment Fleet
Construction Assets
🚜 120 Cranes
🚜 49 Hydraulic Piling Rigs
🏭 42 Batching Plants
🚇 7 Tunnel Boring Machines (TBMs)
🚢 3 Jack-Up Barges
🏗️ 5 Trench Cutters
⚡ One of India's strongest EPC equipment fleets
🎯 FY27 Outlook
Revenue Growth Guidance
📈 20–25% Growth Expected
Order Inflow Target
💰 ₹25,000 Crore
(vs ₹19,000 Crore achieved in FY26)
⭐ Investment Highlights
✅ Backed by Adani Group
✅ ₹24,545 Crore Strong Order Book
✅ Leadership in Ports & Marine Infrastructure
✅ Growing Presence in Metro & Data Centre EPC
✅ Diversified Across 8 Infrastructure Segments
✅ Strong Execution Capability
✅ Pan-India Presence
✅ FY27 Growth Guidance of 20–25%
📌 Cemindia Projects Ltd. At a Glance
🏗️ Order Book: ₹24,545 Crore
📈 FY27 Revenue Growth Target: 20–25%
💰 FY27 Order Inflow Target: ₹25,000 Crore
🚢 Maritime Business Contribution: 33%
🌍 International Presence: Sri Lanka, Bangladesh & UAE
⚙️ 120 Cranes + 7 TBMs + 49 Piling Rigs
🚀 With Adani Group ownership, a record order book, strong infrastructure pipeline, and exposure to ports, metros, roads, data centres, and energy projects, Cemindia Projects is positioning itself as one of India's most diversified infrastructure EPC players. 📊🏗️✨
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