Syrma SGS Q4 FY26: Revenue up 56%, PAT up 67%

Key takeaway from the audited results

Syrma SGS Technology Limited reported strong growth in Q4FY26 and FY26, with higher revenue, EBITDA and profit on both consolidated and standalone bases. The Board approved audited financials at its meeting on May 11, 2026, and also recommended a final dividend of ₹1.50 per equity share for FY26. The dividend equals 15% on the face value of ₹10 per share and is subject to shareholder approval at the ensuing Annual General Meeting.

Alongside the results, the company followed up with disclosures tied to SEBI listing regulations, including a Regulation 47 newspaper advertisement and the upload of the earnings call audio recording on its website. The filings and disclosures matter because they provide verifiable access to audited numbers and management commentary for investors tracking performance and governance compliance.

Board meeting and corporate action

The Board of Directors met on May 11, 2026, to approve the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. After approval, the company recommended a final dividend of ₹1.50 per equity share for FY26. The company indicated the dividend is subject to shareholder approval at the forthcoming AGM.

The statutory auditors, Walker Chandiok & Co LLP, issued an unmodified audit opinion on both standalone and consolidated financial results. An unmodified opinion indicates the auditors did not find material misstatements in the financial statements, based on the information presented.

Consolidated Q4FY26 performance: growth across key lines

On a consolidated basis, the company reported sharp year-on-year increases in revenue and profit during Q4FY26. Consolidated total revenue for Q4FY26 was ₹1,476.8 crore, up 56% YoY and 16% QoQ. EBITDA for the quarter stood at ₹186.0 crore, up 43% YoY. Profit after tax (PAT) rose 67% YoY to ₹119.2 crore.

Export revenue made up 25% of revenue from operations in Q4FY26, as per the company’s stated mix. Consolidated basic EPS for Q4FY26 stood at ₹5.29, while diluted EPS stood at ₹5.28.

FY26 consolidated numbers and profitability trend

For FY26, consolidated total revenue was ₹4,856.9 crore, up 27% YoY. Consolidated EBITDA came in at ₹582.3 crore, up 56% YoY. PAT increased 87% YoY to ₹345.8 crore.

Management also highlighted operating performance indicators such as positive operating cash flow and a reduction in net working capital days, linking the improvement to execution and capital discipline. Export revenue remained 25% of revenue from operations for FY26 and grew 41% YoY, with management stating exports crossed ₹1,200 crore.

Standalone performance and restated comparatives

On a standalone basis, Syrma SGS reported revenue from operations of ₹1,220.7 crore in Q4FY26, compared with ₹863.8 crore in Q4FY25 (restated). FY26 standalone revenue from operations was ₹4,367.2 crore versus ₹3,615.8 crore in FY25 (restated). Standalone PAT was ₹80.9 crore in Q4FY26 and ₹293.4 crore for FY26.

The company noted that standalone results incorporate the effect of a Scheme of Amalgamation between SGS Infosystems Private Limited and SGS Tekniks Manufacturing Private Limited with Syrma SGS. The scheme was approved by the NCLT with an appointed date of April 1, 2023, and comparative figures for the previous year were restated accordingly.

Summary table: audited financial snapshot (₹ crore)

Regulation 47 filing and concall audio upload

Syrma SGS filed a Regulation 47 newspaper advertisement on May 12, 2026, confirming publication of audited results in Financial Express and Mumbai Lakshadweep. The filing also listed the compliance officer as Bhabagrahi Pradhan (M. No.: F4921) and the place as Gurgaon.

The company also arranged a conference call on May 12, 2026, for the audited results and, in line with Regulation 30 and Regulation 46(2) of SEBI (LODR) Regulations, uploaded the audio recording on its website. The company shared a direct link to the recording and indicated that results are hosted in its investor relations disclosures section.

Management commentary: execution, exports and vertical mix

Managing Director Jasbir Singh Gujral said FY26 delivered 27% revenue growth to ₹4,819 crore, with operating EBITDA expanding to ₹545 crore, and cited positive operating cash flow and reduced net working capital days. He also pointed to a stronger presence in Automotive, Industrial, Healthcare and Defence, and said exports grew 41% and crossed ₹1,200 crore.

He highlighted consolidation of Elcome in Defence, the Elemaster JV in high-reliability Industrial and Railways electronics, and the PCB project aimed at expanding into the component ecosystem. These initiatives were positioned as steps toward building new growth verticals for FY27 and beyond.

Concall highlights: the ₹6,000 crore revenue ambition

In the post-results earnings call, management expressed confidence in exceeding ₹6,000 crore in annual revenue, attributing it to stronger second-half performance. The company cited Q2 revenue of ₹1,465 crore and said monthly exports increased from ₹125 crore to over ₹1,500 crore.

The earnings call transcript also included discussion on margins and pass-through timing, with management indicating that while pass-through structures exist, they do not necessarily reset immediately. The company also referenced PLI benefits for FY26, stating gross PLI of approximately ₹80 crore and net PLI of approximately ₹38 crore after sharing.

Stock performance context (as presented)

The article also provided historical stock returns for Syrma SGS across multiple periods. The 1-day move was -3.68%, while the 1-year return was +91.19%, based on the table shown.

Why the update matters for investors

The Q4FY26 numbers show faster profit growth than revenue growth, with a 67% YoY rise in quarterly PAT against a 56% YoY rise in total revenue. For FY26, PAT grew 87% YoY on 27% revenue growth, indicating operating leverage and a mix shift toward higher-margin segments, as described in management commentary.

Separately, the compliance trail is explicit: audited results approval, a Regulation 47 publication confirmation, and the concall audio upload under Regulation 30 and 46(2). For investors, these steps improve traceability of the results and the narrative provided by management.

Conclusion

Syrma SGS closed FY26 with higher consolidated revenue, EBITDA and PAT, and proposed a final dividend of ₹1.50 per share, subject to shareholder approval at the AGM. The company’s follow-up disclosures, including the Regulation 47 advertisement and concall audio upload, add process clarity around the audited results. The next formal milestone to watch is shareholder voting on the dividend at the upcoming Annual General Meeting, along with subsequent updates on the company’s FY27 execution and revenue scale-up plans.