Syrma SGS Tech shares hit 20% upper circuit limit post Q3 results. Details here

Syrma SGS Technology Ltd shares rose sharply in Wednesday's trade, snapping their three-day fall. The stock zoomed 20 per cent to hit its upper price band of Rs 504.35 level. Today's spike in the share price came after the company reported a 161 per cent jump, year-on-year (YoY), in the December 2024 quarter's profit after tax (PAT) aided by healthy margins.

"The consolidated EBITDA was up by 96 per cent YoY to Rs 101.3 crore as against Rs 51.6 crore for the corresponding period of the previous year. PAT was Rs 53 crore, up by 161 per cent YoY as compared to Rs 20.3 crore last year," the company stated in a release.

For the quarter ended on December 31, 2024, consolidated total revenue came at Rs 891.5 crore, up by 24 per cent YoY, as compared to Rs 718.8 crore in Q3 FY24, primarily driven by auto and industrials segments, Syrma added.

"The company for the nine months ended on December 31, 2024, reported a consolidated total revenue of Rs 2,897.3 crore, up by 40 per cent YoY, as compared to Rs 2,063.1 crore for the corresponding period ended on December 31, 2023. 

"The consolidated EBITDA was up by 43 per cent YoY to Rs 243 crore as against Rs 170.3 crore for the corresponding period of the previous year. PAT was Rs 113 crore, up by 43 per cent YoY as compared to Rs 79.1 crore last year," Syrma further stated.

Technically, the stock traded higher than the 5-day, 10-, 150-day and 200-day simple moving averages (SMAs) but lower than the 20-day, 30-, 50-day and 100-day SMAs. Its 14-day relative strength index (RSI) came at 21.6. A level below 30 is defined as oversold while a value above 70 is considered overbought.

As per BSE, the counter has a price-to-equity (P/E) ratio of 153 against a price-to-book (P/B) value of 5.22. Earnings per share (EPS) stood at 2.75 with a return on equity (RoE) of 3.41. Promoters held a 46.58 per cent stake in Syrma during the December 2024 quarter.

The scrip saw high trading volume today as around 2.68 lakh shares changed hands on BSE at the time of writing this story. The figure was higher than the two-week average volume of 83,000 shares. Turnover on the counter came at Rs 12.80 crore, commanding a market capitalisation (m-cap) of Rs 8,985.40 crore.