Source: Mint
Mumbai, On Thursday, Syrma SGS Technologies’ stock surged over 5% to ₹682.70, marking a 52-week high. Last Friday, the company outlined its vision for India’s largest multi-layer Printed Circuit Board (PCB) and Copper Clad Laminate (CCL) manufacturing facility. In the last couple of sessions, the stock has gained more than 11%.
₹1,800 Crore Investment for New Plant
Syrma SGS will invest around ₹1,800 crore into the new plant at Naidupeta in Andhra Pradesh. The company is working with South Korea’s Shinhyup Electronics, which will provide it with technology and marketing support.
This plant is expected to support India’s production of more electronic parts within the country, assist the Indian government’s ‘Make in India’ initiative, and contribute to India’s goal of achieving self-reliance in electronics manufacturing.
Timeline of the Project
Syrma SGS provided an update on the progression of the project:
On December 24, 2024, they executed a Non-Disclosure Agreement (NDA) with Shinhyup Electronics.
On January 16, 2025, they signed a Memorandum of Understanding (MoU) in Chennai.
In March, Syrma SGS travelled to South Korea to tour the Shinhyup factory.
On April 28, both companies executed a non-binding term sheet in Chennai.
They also collaborated on cost planning, business models, and technical details during this time.
Government Support and Approvals
To access government benefits, Syrma SGS registered in the Electronic Component Manufacturing Scheme (ECMS).
On April 9, the company signed a Non-Disclosure Agreement with Ernst & Young to guide and support the filing.
On May 5, it registered with the ECMS portal.
On May 22, the company submitted its application under the Multi-Layer PCB category under the Ministry of Electronics and Information Technology (MEITY).
The project is also being viewed by the government of Andhra Pradesh for possible support.
Analysts’ Positive Outlook
Global broker, JPMorgan, rated Syrma SGS ‘Overweight’ which means it expects the stock to outperform. The broker said:
The company’s revenue could compound at 31% pa from FY25 to FY28.
- Profit margins could also expand to 9% by FY28.
- Demand from automotive and industrial applications will fuel growth.
- Recovery of exports from FY27, could also contribute to earnings.
Stock Performance
Current Price: 682.70 (July 10, 2025)
52-week Low: ₹355.05 in April 2025, now up nearly 93%
Year-to-date gain approximately 16% in 2025
One-year gain: More than 32%
After strengthening in 5 of the 7 months in 2025, the stock performance reflects strong investor confidence in the company’s future.
