SYRMA
Syrma SGS Technology Limited
If management delivers what it guided
arithmetic on filed guidance and past valuations · not a price target
SYRMA
FY26 → FY29 · 3 years of guidance · ~2.7 years from today₹1,367 today
BEAR
₹1,008
-26%-11% a yr
12.6% a year · 42.9x exit
BASE
₹1,446
+6%+2% a yr
21.8% a year · 48.5x exit
BULL
₹2,493
+82%+25% a yr
29.6% a year · 69.4x exit
Where the market has priced it
39x83x today — outside the range81x
- multiple band rests on only 4 filed years
- FY27 one quarter filed — the pace is shown, not judged: guided +30.0%, filed +68.3% across 1 quarter(s)
- at 83x its FY26 earnings the stock already trades above the top of its own ten-year range (69x)
How these numbers are produced
| Earnings base | FY26 fiscal year EPS ₹16.48 (screener) |
|---|---|
| Guided growth | 21.8% a year, said on the call of 18-May-2026 · transcript |
| Read across as | operating: revenue growth x margin change — high confidence |
| Delivery calibration | 0.58x / 1x / 1.36x of what was guided — measured: 76 annual guided-vs-filed pairs + 77 near-complete quarterly years — NSE transcripts against the companies' own filings |
| Exit multiple | 42.85x / 48.55x / 69.42x, this company’s own p20 / median / p80 across 4 filed years |
| Filed-industry peers | median 66.27x across 5 peers — the cross-check, not the input |
| Arithmetic | base EPS × (1 + guided growth × delivery)3 × exit multiple |
Arithmetic on management’s own guidance and this company’s own past valuations. Not a price target, not a recommendation, and not a forecast of what the stock will do.
What management said
from NSE earnings-call filings · extracted, not interpreted
revenue growth 30%generic growth 30%ebitda margin 10%margin 10%
Just to recollect, we had started the year with a guidance of about INR400-plus crores of EBITDA figures, a revenue growth of about 30% to 35% and a positive cash flow with exports targeted to cross the INR1,100 crores mark.
Call 18-May-2026 · bridge confidence high · transcript PDF
Pace against its own guidance
FY27
one quarter filed — the pace is shown, not judged
guided 30.0%
filed 68.3%
1 of 4 quarters