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Other Electrical Equipment/Products company Syrma SGS Technology announced consolidated Q1FY24 results:
- Total revenue of Rs 6,234 million, up by 59% YoY, as compared to Rs 3,918 million for Q1FY23, primarily driven by Automotive, Consumer, and Industrial segments.
- EBITDA was up by 64% YoY to Rs 590 million as against Rs 360 million for Q1FY23.
- Profit Before Tax was Rs 413 million, up 73% YoY as compared to Rs 239 million in Q1FY23.
- Profit after Tax was Rs 283 million up by 65% as compared to Rs 172 million for Q1FY23.
Sandeep Tandon, Chairman, Syrma SGS said, “We are delighted to welcome JDHL to the Syrma SGS family. This partnership is a strategic fit for us, as it aligns with our vision of foraying into the fast-growing medical devices segment. JDHL has a proven track record of delivering innovative and high-quality products to its customers, and we look forward to leveraging their design capability will expand Syrma’s ODM skills in the high-growth medical electronics space”.
Satyendra Johari, Chairman, JDHL said, “In the last three decades, JDHL has earned the Trust and Recognition of Global leading medical device companies for Design, Engineering, and manufacturing services. We are excited to be partnering with Syrma SGS, whose Dynamic leadership and expansive industry insight will broaden the spectrum for us to develop smart and affordable medical electronics for the World. With this partnership, we are poised to be the leading medical electronics company in India".
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