Syrma SGS Technology - At The Right Place At The Right Time: ICICI Securities Initiates Coverage

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Syrma SGS Technology Ltd. has established beardown competitory advantages successful electronics manufacturing services industry. Its competitory advantages include-

  1. strong wallet stock crossed companies successful aggregate industries,

  2. large customers specified arsenic Hindustan Unilever Ltd. and TVS Motor Company Ltd. which speaks astir the prime of Syrma’s products and services,

  3. ability to connection archetypal plan manufacturing services and

  4. multiple differentiated products to cater to assorted requirements of customers.

Syrma volition summation from the beardown maturation accidental (40% positive compound yearly maturation complaint implicit FY22-26E) successful EMS manufacture successful India.

We exemplary it to summation marketplace shares arsenic good arsenic wallet shares successful the printed circuit committee assemblies and vigor frequence recognition segments.

We besides exemplary Ebitda borderline enlargement implicit FY22-FY25E owed to operating leverage, benefits of accumulation linked inducement schemes and correction successful input prices. We forecast gross and nett aft taxation CAGRs of 33.3% and 47.9%, respectively, implicit FY22-FY25E.

Click connected the attachment to work the afloat report:

ICICI Securities Syrma SGS Technology Initiating Coverage Note.pdf

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