Buy Syrma SGS Technology; target of Rs 1000: Motilal Oswal

Buy

Motilal Oswal's research report on Syrma SGS Technology

Syrma SGS Technology (SYRMA) continued its strong operating performance, with EBITDA up ~2x YoY in 3QFY26. EBITDA margin expanded 350bp YoY due to a favorable business mix and operating leverage. Revenue grew 45%, largely led by a strong jump in IT/Railways revenue (up 65%), followed by Healthcare/Industrial/Auto/Consumer (up 47%/45%/44%/43% YoY).

Outlook

We estimate a revenue/EBITDA/adj. PAT CAGR of 30%/45%/52% over FY25-28, driven by strong revenue growth and margin expansion. We reiterate our BUY rating on the stock with a TP of INR1,000 (premised on 32x FY28E EPS).

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Syrma SGS Technology_01022026_Motilal Oswal