Syrma SGS targets $1 billion next year as Q2 revenue and profitability soar

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The EMS player’s first-half revenue nears full year revenue of FY25

By Sindhu Hariharan

Updated - October 30, 2026 at 09:40 PM. | Chennai

Jasbir Singh Gujral, Managing Director, Syrma SGS Technology Ltd

Electronics manufacturer Syrma SGS is optimistic of reaching $1 billion (roughly ₹9000-10,000 crore) in revenue in the next fiscal as the company delivers its highest-ever quarterly performance in the quarter ended September 2026 (Q2 FY27).

The EMS player’s growth was broad-based across segments and was backed by tighter working capital. However, the management flagged persistent component and PCB shortages.

“With the current business model we are building, we are confident that we should be achieving the $1 billion dollar mark (in revenue) next year (FY28),” Jasbir Singh Gujral, Managing Director, Syrma SGS Technology Ltd, told businessline in an interaction post the company’s Q2 FY27 results.

Syrma SGS recorded a net profit of ₹124 crore, which zoomed 87 per cent y-o-y on a revenue that touched almost ₹2,000 crore with a 74 per cent growth. “The first half of FY27 reflects the continued strength of our execution, with total revenue up 71 per cent and PAT nearly doubling,” Gujral said.

“In H1 FY27, we have almost surpassed the entire revenue FY25,” Gujral added. In FY25, the company’s revenue was around ₹3,800 crores, while in H1 FY27, it is around 3,600 crore.

Syrma’s automotive segment grew 91 per cent y-o-y at ₹517 crore, consumer electronics grew 57 per cent, and industrial electronics revenue rose 86 per cent. The original design and manufacturing (ODM) business more than doubled to ₹591 crore in H1, Gujral said.

Export growth

Exports, which makes up 26 per cent of total revenue, grew 91 per cent y-o-y in the quarter. US and Europe remain key markets.

The MD noted that component shortages have not gone away entirely. While passives are showing “a little bit” of softening, the supply chain situation in active components such as chips and memory controllers remain tight, he said. PCBs are the biggest worry and the supply situation has not improved much, he noted.

Given this supply crunch and the rising inquiries coming their way, Syrma says its PCB plant in Andhra Pradesh is on track to be powered on by March 2027.

Among other key developments, Syrma inaugurated its new Bengaluru facility Syrma SGS Elemaster Private Ltd (its joint venture with Elemaster S P A Tecnologie Elettroniche) in the quarter. Its subsidiary, Syrma Johari MedTech, also inaugurated a new medical plastics and precision moulding facility in Jodhpur.

Published on October 30, 2026

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