Syrma SGS Technology share price today

Syrma SGS Technology Ltd's share price was ₹1,515.00 at the close on 5 November 2026. It has been rising for 75 weeks. That is 18.5% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹665 and ₹1,744, and at that close it sat 79% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Syrma SGS Technology Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 45 weeks in a row.

Over the last 4.2 years the share price moved +388% while the NIFTY 500 moved +43%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: profit up on a year earlier for 9 quarters in a row, foreign funds (FIIs) raised their stake for 3 quarters in a row and highest quarterly profit in 16 quarters.

1. Profit up on a year earlier for 9 quarters in a row

   In the September 2026 quarter profit was ₹124 crore, +87.9% on a year earlier.

2. Foreign funds (FIIs) raised their stake for 3 quarters in a row

   From 6.5% to 9.5% of the company by the September 2026 quarter.

3. Highest quarterly profit in 16 quarters

   Profit of ₹124 crore in the September 2026 quarter is the highest of the last 16 quarters.

For July to September 2026 (the quarter ended 30 September 2026), Syrma SGS Technology reported revenue of ₹1,990 crore, up 73.6% from ₹1,146 crore a year earlier, and a profit of ₹124 crore, up 87.9% from ₹66.0 crore.

Syrma SGS Technology results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 30 July 2026, about April to June 2026; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Syrma SGS Technology closed at ₹1,515.00 on 5 November 2026, up 89.5% from ₹799.50 a year earlier (7 November 2025) and up 197.1% over three years. Its highest weekly close since August 2022 was ₹1,743.90 on 28 September 2026.

Syrma SGS Technology share price: then and now

Weekly closing prices. Each change is the move from that price to the 5 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

227 weekly closes from 26 August 2022 to 5 November 2026.

5 Nov 2026: Syrma SGS Technology closed at ₹1,515.00, down 6.8% on the week and down 11.9% on the month. Results for July to September 2026: Revenue up 73.6% and profit up 87.9% on a year earlier.

Earlier

• Our read, 22 Aug 2026: Syrma is transforming from a build-to-print electronics assembler into an export-focused, ODM-led technology manufacturer, with expanding operating margins and backward integration into multilayer PCBs supporting multi-year earnings compounding.
• 18 Aug 2026: ex-date for a dividend of ₹1.50 a share.
• 30 Jul 2026: Syrma SGS Technology held its results call for April to June 2026. Management guided: FY27 consolidated revenue growth above 35.0%.

Our read of the business

Latest quarter: Revenue Expands 68% on a year earlier on Surging ODM Mix and Order Execution.

Our read after the latest results, written 22 August 2026.

Syrma SGS Technology paid ₹1.50 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.10% at the ₹1,515.00 close on 5 November 2026. The last was a dividend of ₹1.50 a share, ex-date 18 August 2026.

Syrma SGS Technology dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Syrma SGS Technology Ltd paid out 9% of its profit as dividends in FY26, and it paid a dividend in 4 of its last 8 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 30 July 2026, Syrma SGS Technology's management guided: FY27 consolidated revenue growth above 35.0%.

“On a micro level, I do not see any risk. It will be a tough walk, but we will achieve or exceed it. The only imponderable is the geopolitical situation in West Asia, which is beyond our control.”J.S. Gujral, Managing Director, on the call for April to June 2026

What management guided

• FY27 operating margin of 10.5-11.0%.
• Consolidated growth of 30.0-35.0% over the next 2 to 3 years.
• FY27 exports of ₹1,500-1,600 crores; ODM goal of 25.0% of sales over the long term, requiring 50.0-60.0% growth as total revenue expands.
• Consumer mix of about 30.0% on an annualized basis and 30.0-32.0% for FY27; quarterly variation and seasonality expected.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 30 July 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

2 changes in Syrma SGS Technology's own numbers look lasting: a bigger order book and new regions and countries. Also showing up, but too early to call lasting: costs spread over more sales.

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Checked against results and calls up to April to June 2026, 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

April to June 2026 order intake reached ₹1,970 Cr against ₹1,600 Cr of execution, expanding total order book to ₹6,770 Cr.

• Healthcare order book stood at almost ₹500 Cr including RFID and MedTech, with two new CDMO manufacturing and design customers onboarded. ✓ fact

Our read after the latest results, written 22 August 2026.

A sustained deceleration in quarterly export revenue below 20% of sales combined with consolidated operating margin slipping below 9.0% over two consecutive quarters, indicating loss of design-led pricing power and complete pass-through failure.

Each change stops working if

• Export and ODM Mix Expansion: Export revenue drops below 20% of sales or US tariff restrictions disrupt medical device shipments.
• Operating Leverage from Scale Expansion: Capacity utilization falls below 60% due to sudden order deferrals or raw material supply halts.
• Committed Order Book and Client Program Ramp: Top-5 customer concentration (38% of revenue) leads to major volume cancellation or automotive client qualification periods exceed 24 months.
• Backward Integration via Multilayer PCB Plant: Equipment installation or client sample qualification is delayed beyond H1 FY28, prolonging pre-operating cash burn.

The main risks

• US Tariff Escalation and Geopolitical Trade Friction: The United States accounts for 22% of exports directly and 65% of medical device shipments; persistent trade uncertainties could impact realization and export margins. ✓ fact
• Working Capital Elongation and Strategic Inventory Cash Drag: Net working capital expanded from 63 to 71 days in April to June 2026, increasing short-term borrowings by ₹340 Cr due to component inventory buffers. ✓ fact
• Multilayer PCB Commissioning Milestone Slippage: Phase 1 PCB civil completion milestone slipped from June-July 2026 to 65-70% in July 2026, delaying commercial production to April 2027. ✓ fact
• Sub-Segment Guidance Walkbacks and Communication Consistency: Documented consistency adjustments across four calls, including dropping the K-Solar venture and walking back smart meter volume commitments. ✓ fact

Our read after the latest results, written 22 August 2026.

When Syrma SGS Technology reports October to December 2026, these are the 6 checks that show whether the story is still on course. First: Order book stays above ₹6,770 crore at September 2026 with intake again above execution, and inventory days start falling as management promised.

Syrma SGS Technology is on 4 of our India lists: Multibagger study list, Momentum stocks, Small & mid cap stocks and Semiconductor stocks.

Syrma SGS Technology Ltd earned ₹124 Cr of net profit in the Sep 2026 quarter, +87.9% on the same quarter a year earlier. That is the 9th quarter in a row of profit growth. Full-year FY26 profit was ₹346 Cr. Over 7 years profit has grown 49.2% a year on average. That is 6.2% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹66.0 Cr.

For the full year, FY26 profit was ₹346 Cr (+88.0% on the year before).

Why profit moved: revenue changed +73.6% on a year earlier and the margin moved +0.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +93.8% and revenue +61.4%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

Syrma SGS Technology Ltd reported ₹1,990 Cr of revenue in the Sep 2026 quarter, +73.6% on the same quarter a year earlier. That is the 5th quarter in a row with growth on the year before. Over 7 years it has grown 45.2% a year on average. The last full year, FY26, came in at ₹4,819 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. Order intake of ₹1,970 Cr outpaced Q1 execution of ₹1,600 Cr, expanding the order backlog to ₹6,770 Cr. The backlog provides 10-10.5 months of revenue visibility across automotive (29%), consumer (30%), industrial (24%), and healthcare (7%). Eighteen new client additions in Q1 FY27 provide pipeline diversification and long-term ramp potential.

The last four reported quarters add to ₹6,308 Cr.

FY26 revenue was ₹4,819 Cr, +27.3% on the year before.

Recent pace: the last four quarters grew +61.4% on average, against 45.2% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +62.4%, against +28.1% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +91.3%, against +91.6% a year (stabilising).

Syrma SGS Technology Ltd's operating margin was 10.0% in the Sep 2026 quarter, about the same as the same quarter a year ago. Across 8 years it has been between 6.0% and 16.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. Syrma is pivoting away from low-margin consumer electronics assembly toward higher-margin exports (24% of Q1 FY27 sales) and original design manufacturing (17% of sales). ODM programs carry proprietary engineering IP and command 15-18% EBITDA margins compared to 8-10% for pure contract manufacturing. The company's 30-year European manufacturing presence in Stuttgart positions it to benefit from the India-EU FTA duty exemptions.

In the latest quarter it moved +0.0 percentage points on the same quarter a year ago.

Why the margin moved: operating margin changed −0.3 percentage points on the year while gross margin changed −2.7 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 55% of Syrma SGS Technology Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹290 Cr of operating cash against ₹346 Cr of profit. After ₹404 Cr of spending on assets, free cash was −₹114 Cr: it spent more than its operations brought in.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 55% of profit came in as cash: the cash cycle got 35 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

What to look at next: the bigger use of cash is spending on new assets, at 5.6× depreciation over three years. The next section checks what that spending is building.

Syrma SGS Technology Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 48 days in FY26, down from 83 days in FY21. It spent ₹1,183 Cr on assets over the last 3 years. Customers take 139 days to pay, and stock sits for 108 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

Why this happened. Syrma is constructing an integrated multilayer PCB manufacturing facility to localize high-layer-count PCB sourcing. Phase 1 goals 1.0-1.5x asset turnover and mature EBITDA margins of 15.0-18.0%, supported by a 50% state capex subsidy and central PLI benefits. The facility addresses import substitution demand across automotive, industrial, and defense sectors.

At FY26 sales of ₹4,819 Cr, each day of that cycle ties up about ₹13.2 Cr, so roughly ₹634 Cr is tied up in the business at any time.

FY26: customers took 139 days to pay and stock sat for 108 days, about 3.6 months of sales sitting as stock, for a full cycle of 48 days, shorter than FY21's 83.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 108 days. Customers pay about 139 days after that. Suppliers are paid at 199 days. Together that makes the 48-day cycle.

Spending on assets: ₹1,183 Cr over the last 3 years, against ₹210 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹72.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Syrma SGS Technology Ltd's P/E is 68.9×, in the middle of its own history: higher than 45% of past readings. Its usual P/E (the middle reading) is 71.4×, over 4.2 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Why the multiple is where it is: over the past year earnings per share moved +72.9% while the price moved +89.5%. The price did better than earnings, which pushed the multiple up within its own range.

Where the price move came from: over 3 years the price moved +43.8% a year; about +43.0% a year came from earnings growth and about +0.8 percentage points from the multiple (roughly no change). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple.

The PEG ratio and its quarterly curve, which only the second data source has, are not shown on this page: its two data sources disagree by up to 21% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

Syrma SGS Technology Ltd's business is getting better. Profit growth hit its low 8 quarters ago at −8.1% and has recovered to +91.3%, with ROCE steady at 17.0%. This is based on 9 quarters of 4 measures, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: a lasting rise from a low is what this page is built to show.

The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone.

This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Syrma SGS Technology Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: MID CYCLE EXPANSION.

NOT YET CHECKED

Our read, 22 August 2026. Syrma is transforming from a build-to-print electronics assembler into an export-focused, ODM-led technology manufacturer, with expanding operating margins and backward integration into multilayer PCBs supporting multi-year earnings compounding.

From the price. Price stage 2, week 75, above its 200-day line, relative strength rising.

From the research. Syrma is transforming from a build-to-print electronics assembler into an export-focused, ODM-led technology manufacturer, with expanding operating margins and backward integration into multilayer PCBs supporting…

Where they disagree. However, this risk is rebutted by structural product mix transformation: ODM surged to 17% of revenue and exports reached 24%, establishing a higher sustainable margin baseline rather than a cyclical peak.

What is proven. Syrma is transforming from a build-to-print electronics assembler into an export-focused, ODM-led technology manufacturer, with expanding operating margins and backward integration into multilayer PCBs supporting multi-year earnings compounding.

What is not proven yet. A sustained deceleration in quarterly export revenue below 20% of sales combined with consolidated EBITDA margins slipping below 9.0% over two consecutive quarters, indicating loss of design-led pricing power and complete pass-through failure.

What would change our mind. A sustained deceleration in quarterly export revenue below 20% of sales combined with consolidated EBITDA margins slipping below 9.0% over two consecutive quarters, indicating loss of design-led pricing power and complete pass-through failure.

The test written in advance. A sustained deceleration in quarterly export revenue below 20% of sales combined with consolidated EBITDA margins slipping below 9.0% over two consecutive quarters, indicating loss of design-led pricing power and complete pass-through failure. Measured by: the thesis as written as stated by the next result.

The test written in advance. US Tariff Escalation and Geopolitical Trade Friction. Measured by: US Tariff Escalation and Geopolitical Trade Friction Quarterly export revenue run rate slipping below ₹300 Cr or US policy announcements regarding electronics tariffs. by the next result.

The test written in advance. Working Capital Elongation and Strategic Inventory Cash Drag. Measured by: Working Capital Elongation and Strategic Inventory Cash Drag Net working capital days exceeding 75 days in Q2 FY27 or operating cash flow turning deeply negative for the half-year. by the next result.

What the company does. Revenue expanded 68.3% YoY in Q1 FY27 to ₹1,589 Cr with operating profit up 86.2% to ₹162 Cr, led by a doubling of ODM mix to 17% and exports reaching ₹387 Cr. A committed ₹6,770 Cr order book and 18 new customer programs provide visibility on management's guided 35% annual revenue growth and 10.5-11.0% EBITDA margins.

The key numbers to watch, and the level that would change the picture

Everything further down this page is evidence for or against these.

What the surface reading misses. The surface reading is: 112% PAT growth indicates massive earnings acceleration. The research reads it further: Operating leverage from 68% revenue scale expansion combined with export and ODM mix shift (17% of sales) expanded operating profits from ₹87 Cr to ₹162 Cr, while base quarter Q1 FY26 had depressed PAT (₹50 Cr) due to high interest and tax (26%). Underlying operational improvement is real, but growth rate reflects low base effect.

• 1 · Operating leveragebuilding
• 2 · Value-added mixbuilding
• 3 · Management changequiet
• 4 · Paying down debtquiet
• 5 · Regulatory approvalquiet
• 6 · Order-book winsbuilding
• 7 · Consolidationquiet
• 8 · Demerger or value unlockquiet
• 9 · Buybackquiet
• 10 · New geographiesquiet
• 11 · More business from existing customersquiet
• 12 · New product launchquiet
• 13 · Mandatory normsquiet
• 14 · A bigger market to servequiet
• 15 · Market-share gainsquiet
• 16 · Asset qualityquiet

Lever 2 · Value-added mix: building. Exports expanded 61.0% YoY to ₹387 Cr and ODM sales doubled to ₹270 Cr (17% of revenue) in Q1 FY27, shifting the mix toward high-margin design-led solutions. What proves it keeps working: Export and ODM Mix Expansion. It stops working if Export revenue drops below 20% of sales or US tariff restrictions disrupt medical device shipments.

Lever 1 · Operating leverage: building. Q1 FY27 revenue expansion of 68.3% YoY drove an 86.2% increase in operating profit to ₹162 Cr and a 112.0% increase in PAT to ₹106 Cr. What proves it keeps working: Operating Leverage from Scale Expansion. It stops working if Capacity utilization falls below 60% due to sudden order deferrals or raw material supply halts.

Lever 6 · Order-book wins: building. Total order book expanded to ₹6,770 Cr with ₹1,970 Cr of quarterly intake, supported by 18 new client on-boardings across automotive, industrial, and medical segments. What proves it keeps working: Committed Order Book and Client Program Ramp. It stops working if Top-5 customer concentration (38% of revenue) leads to major volume cancellation or automotive client qualification periods exceed 24 months.

Sources: our stock research file (22 August 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.

The whole page in one table. Each row links to its section.

What Syrma SGS Technology Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.

PCB Construction Milestone Slippage · 30 July 2026. In the January 2026 call, management expected the PCB construction to be completed by June or July 2026. In the July 2026 call, management said the building was only 65-70% complete, indicating a material delay in the stated construction milestone that was not explained, even though the power-on goal remained in the January to March quarter.

Defense Growth Outlook Raised · 30 July 2026. In January 2026, management guided to 10%-15% growth for Elcome in the following year, citing long gestation periods and lumpy orders. In July 2026, management raised the expected defense portfolio growth to 25%-35%, a material change that was not reconciled with the prior outlook or the previously cited execution constraints.

K-Solar JV Strategic Reversal · 12 May 2026. In Nov 2025, management described the KSolare acquisition as one of four pivotal strategic initiatives forming the foundation for a very strong growth trajectory, expressing high confidence with no mention of conditions precedent risk or deal execution uncertainty.

PCB Trial Production Timeline Slippage · 12 May 2026. Management gave a firm December 2026 commitment for PCB trial production start in Nov 2025, softened it to a December 2026 to March 2027 range in Jan 2026, and in the May 2026 call has now introduced a new outer bound of start of FY28 (April 2027 onwards) without explicitly explaining the reason for the delay. This cumulative 4-plus-month slip from the original public commitment is material because the PCB commissioning date directly gates when the new vertical begins contributing to revenue and triggering state government incentive inflows that underpin the project economics.

Every quote above is taken word for word from the company’s own earnings calls.

Management delivered consolidated promises after earlier weaker quarters, while smaller programmes slipped. Ending K-Solar had a stated reason.

Regulatory and governance record

Smaller programme misses and PCB delays remain, but no backed fraud, proven lie, adverse conduct finding or named live material proceeding surfaced. Consolidated delivery is stronger than individual programme promises.

Checked 14 October 2026.

Syrma SGS Technology Ltd earned a ROCE of 17% in FY26. That is up from a low of 10% in FY24. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 7.2% net margin and 0.84× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 7.2% net margin × 0.84× asset turnover × 2.01× leverage (assets divided by equity) ≈ 12.2% on equity. The margin does its share; borrowing is a big part of it.

The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 21% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

Syrma SGS Technology Ltd had ₹400 Cr of borrowings against ₹2,863 Cr of equity in FY26, so its debt is 0.14× its equity. Its operating profit is 11 times its interest bill. Over 5 years borrowings went from ₹103 Cr to ₹400 Cr. Over the last 3 of those years it spent ₹1,183 Cr on assets.

Debt-to-equity shows how much of the business is paid for with borrowed money. Interest cover shows how many times operating profit pays the interest bill. Low debt and high cover are the safe combination.

Why this happened. Scale expansion across manufacturing facilities in Chennai, Bangalore, Pune, and Jodhpur is absorbing fixed overheads and automation spending. Fixed cost leverage expanded operating profit from ₹87 Cr in Q1 FY26 to ₹162 Cr in Q1 FY27, demonstrating operational gearing even while management absorbs strategic inventory carrying costs.

Part of the spending on assets is being paid for with borrowed money.

The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 21% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

Domestic institutions raised their stake in Syrma SGS Technology Ltd by 8.0 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 14.5% of the company. Promoters moved −5.2 points over the same period, to 41.7%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Domestic institutions: +8.0 points over 8 quarters, to 14.5%; Promoters: −5.2 points over 8 quarters, to 41.7%; Foreign institutions: −0.8 points over 8 quarters, to 9.5%.

Why the owners changed: domestic institutions drove it (+8.0 points), with the other side taken by promoters (−5.2 points). They raised their stake step by step.

For Syrma SGS Technology Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

72.7 out of 100, rank 1 of 10 in Consumer Electronics - EMS, with 82% of the evidence available.

Syrma SGS Technology Ltd scores 72.7 out of 100 against the 10 companies it is compared with in Consumer Electronics - EMS, ranking 1. Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks.

The four parts add up to the total exactly: 29.8 + 16.9 + 7.5 + 18.5 = 72.7. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Syrma SGS Technology ranks 1 of 10 Consumer Electronics - EMS companies on the 4-Factor Sector Score, with 72.7 out of 100.