SYRMA SGS TECHNOLOGY LTD Share price

Syrma SGS Technology Limited was incorporated as Syrma Technology Private Limited' on August 23, 2004, by the RoC in Mumbai. The name of Company was changed to Syrma SGS Technology Private Limited', on September 14, 2021. Thereafter, Company converted from a Private Company to Public Company on October 6, 2021, and the name was changed to Syrma SGS Technology Limited, vide a fresh Certificate of Incorporation on October 20, 2021 by RoC. The Company, founded in 1978 by industry pioneers (Tandon family), is located in San Jose (California), and Chennai (India), developing quality technology products. It is one of India's leading exporters of electronics, providing a high-value integrated design and production solution for internationally recognized OEMs. Syrma SGS Tech is a tech-focused engineering and design Company engaged in turnkey electronics manufacturing services, specializing in precision manufacturing for diverse end-use industries. At present, it operates through 18 manufacturing facilities spread across Tamil Nadu, Karnataka, Himachal Pradesh, Uttar Pradesh and Haryana. The Company has a product portfolio with applications across diverse end-use industries. The products are primarily focused toward ODMs and OEMs serving end-use industries including the automotive, healthcare, IT, industrial appliances, energy management, water purification, power supply and consumer products industries. It has 3 R&D facilities, of which 2 located in India at Chennai, Tamil Nadu and Gurgaon, Haryana respectively and 1 in Stuttgart, Germany. Apart from this, it has a robust supplier network which included over suppliers in India and overseas, in over 19 countries, including USA, Singapore and China. The manufacturing processes are monitored and controlled through Company's manufacturing execution systems, which allows for the product and process traceability through barcodes. This enables to capture data in real time, thus empowering its personnel to have a 360 degree view of shop floor inventory, process efficiency and process quality which results in an overall improvement in productivity. In addition to its existing manufacturing, and engineering and design services offerings, it provide prototyping services, tester development and repair and rework services. The Company undertake the NPI (New Product Introduction) process through Mentor Graphics software platform. Apart from this, it has process-based quality systems in place for the entire production cycle, including in respect of procurement, receipt and incoming inspection, storage and packaging, and stage wise quality checks on the production line. In 2006, the Company set up manufacturing unit in MEPZ-SEZ, Chennai. In 2007, it designed and manufactured direct digital dental X-ray FGPA controllers in connection to healthcare industry. It began to cater to the automotive end-use industry with the manufacture of hall sensor PCBAs in 2007. In 2008, it manufactured set top boxes to address the requirements of home entertainment industry. It got into manufacturing of GSM antenna, pursuant to the advent of 3G technology in India. In 2009, the Company progressed to manufacturing of vehicle tracking systems and toll management systems. In 2010, it established a manufacturing facility in Bargur and further commenced manufacturing of automatic dimmers for homes. In 2012, it commenced manufacturing beacons for vehicles. In 2014, it set up first research & development department in India. It progressed in manufacturing of PCBAs for X-ray machines. In December 2014, the Company acquired Tovya Automation. It further proceeded in manufacturing energy-efficient electronic inverters and home appliance control PCBAs. In 2015, it further proceeded in manufacturing of controller units for air conditioners. PCBAs for smart canes for visually challenged people was designed and manufactured. In April 2016, 3G Communication Private Limited merged with the Company and thereafter the post-merger, the Company started manufacturing RFID tags. It proceeded to manufacturing of induction cooktop components. Subsequently, pursuant to advancements to 4G technology, it proceeded to manufacture 4G and LTE antenna. In 2018, the Company established manufacturing facility in Bawal; Further, it started 'Zone of Autonomous Creation' to support rapid prototyping services and another manufacturing unit in the MEPZ-SEZ, Chennai respectively. In 2018, the Company prioritized place in manufacturing sector medium scale in the 3rd edition of CII Southern Region Poka Yoke Competition 2018. It augmented reality equipment for ophthalmological applications. In 2019, the Company commenced offering repair and rework services. In 2020, the Company commenced manufacture of controllers of the EV battery management systems and made investments in the Company by South Asia Growth Fund II Holdings LLC and South Asia EBT Trust. The Company augmented PCBAs for baby case CPAP ventilators in year 2020. In June 2020, the Company amalgamated with Reliable Consultancy Services Private Limited vide the Order of the National Company Law Tribunal, Mumbai. In 2021, the Company installed 4W Lighting System Board. Apart from business strategy to expand market share in EMS sector and widen its geographical footprint in national market, the Company acquired SGS Tekniks in September 2021 and Perfect ID in October 2021. Pursuant to this acquisition, the Company increased manufacturing capacities and in-house R&D capabilities, in expanding the existing supplier network. The Company raised funds from public by issuing 38,187,541 equity shares aggregating to Rs 840.12 Crore comprising a fresh issue of 34,818,181 equity shares aggregating Rs 766 crore and 3,369,360 equity shares crore aggregating to Rs 74.12 crore through offer for sale in August, 2022. The Company launched cellular phone antennas in 2023. The Company acquired 100% stake in SGS Tekniks Manufacturing Private Limited and Perfect ID India Private Limited, thus making them the wholly-owned subsidiaries of the Company in 2023. In September, 2023, the Company entered into the business of design-led manufacturing of electro-medical devices. It acquired a 51% stake in Johari Digital Healthcare Limited (JDHL), and JDHL became subsidiary of the Company. It launched 4 new manufacturing facilities and established the first EMS manufacturing campus at Ranjangaon, in Pune. The Company incorporated 3 wholly owned subsidiaries namely, Syrma Semicon Private Limited on November 24, 2023, Syrma Strategic Electronics Private Limited on December 13, 2023 and Syrma Mobility Private Limited on January 03, 2024. The Company acquired 51% stake in Syrma Johari MedTech Limited, making it a subsidiary in 2024. The Company commissioned the integrated electronics manufacturing facility in Pune in FY 2025.