Syrma SGS Technology shares hit a record high, surging nearly 12% on Monday, September 7, extending gains for the third consecutive day. The stock has traded with gains in four of the last five sessions, marking its biggest single-day gain since May 12, 2025. According to CNBC TV18, the stock has already more than doubled in value this year, gaining 122% so far. Syrma SGS Technology has set ambitious revenue targets for its joint venture with Elemaster Group, projecting ₹200 crore revenue in the first full year of operations, FY 2027-28. However, the company is expecting only around ₹50 crore to ₹70 crore revenue from the venture in the current fiscal year as it works on regulatory approvals and customer clearances.
The joint venture has made a total investment of ₹55 crore, with Syrma SGS owning 60% stake with its ₹33 crore investment and Elemaster owning 40% with its ₹22 crore investment. As reported by CNBC TV18, the completion of the transaction between the JV partners was closed on April 14, 2026. The facility is strategically located in the Bommasandra Industrial Area and represents a substantial investment in India's electronics manufacturing sector. The joint venture combines Syrma SGS's scaled manufacturing capabilities, established supply-chain ecosystem and cost-efficient execution in India with Elemaster's expertise in electronic design, manufacturing, engineering capabilities and strong relationships with European and global OEMs.
The 20,000 sq. ft. facility is equipped with advanced manufacturing capabilities including Surface Mount Technology (SMT), Through-Hole Technology (THT), and box-build assembly lines. As reported by CNBC TV18, these technologies enable the facility to handle complex electronics manufacturing processes and meet stringent quality standards required by global customers. The facility provides an integrated platform to support complex electronics manufacturing requirements across railways, industrial and medical applications, with SMT, THT and box-build capabilities under one roof. According to Jasbir Singh Gujral, MD, Syrma SGS Technology, this integrated approach enables the facility to support complex electronics manufacturing requirements across multiple sectors.
Last week, Syrma SGS Technology's managing director Jasbir Singh Gujral said the company's newly-commissioned joint venture with the Italy-based firm Elemaster has the potential to become a sizeable business with its revenue estimated to reach up to $50 million - $100 million in the next three to five years. According to CNBC TV18, brokerage firm Equirus expects the JV to act as a new growth engine from FY27 onwards, enhancing revenue diversification and margin profile. The JV positions Syrma into higher-value electronics verticals, reducing dependence on consumer electronics manufacturing services (EMS) and strengthening EMS linkages. The facility has been established to address the growing demand for high-reliability electronics across multiple sectors including railways and transportation, industrial electronics, energy and medical electronics.
