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

Executive summary

• FY25 total revenue reached ₹38,361 million, up 19% year-over-year, with PAT at ₹1,845 million, up 48% year-over-year, and PAT margin at 4.8%.

• EBITDA margin expanded to 8.6% for FY25, exceeding initial guidance of 7%.

• Strategic shift reduced consumer business to 35% of revenue, targeting further reduction to 30% in FY26.

• Over 20 new customers were onboarded, with major facility expansions in Pune and Germany.

• Audited standalone and consolidated financial results for FY25 were approved, with unmodified opinions from statutory auditors.

Financial highlights

• Q4 FY25 revenue was ₹9,466 million, up 18% year-over-year; FY25 revenue at ₹38,361 million, up 19% year-over-year.

• FY25 operating EBITDA was ₹3,238 million (8.6% margin), up 48% year-over-year; PAT at ₹1,845 million (4.8% margin).

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

• Free cash flow generated at ₹1,760 million; net working capital at 69 days.

• Earnings per share (consolidated, basic) for FY25 was ₹9.55, up from ₹6.06 in FY24.

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 rebound in Europe.

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

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