Syrma - To Continue Outperforming Its Peers Given Strong Visibility On The Order Book: ICICI Securities

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.We met Jasbir Singh Gujral, Managing Director, Syrma SGS Technology Ltd. Takeaways:The company is evaluating opportunities in the field of Outsourced Semiconductor Assembly and Test. The company will benefit from the subsidies offered by the governments as it could potentially make this business line return on capital employed attractive.It is likely to add new global clients, thereby continuing growth in the export market (more than 20% compound annual growth rate over FY24-26, in our view).Syrma is aiming to on-board IT original equipment manufacturer customers for end-to-end assembly capabilities.It is aiming to fund capex via remaining IPO proceeds and internal accruals.With expect Syrma to continue outperforming its peers given strong visibility on the order book. We remain constructive – maintain 'Buy' with a discountd cash flow-based target price of Rs 711 (implied price/earning of 57 times FY25E)..Key risks Sharp increase in input prices and competitive pressures Major increase in input prices and/or increase in competitive pressures will likely result in downside to our estimates. Delays in launch of new plants/products Any delays in launch of new products and/or plants may result in lower earnings than estimated..Click on the attachment to read the full report:.Shyam Metalics - Steady Operating Performance: ICICI Securities.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Syrma - To Continue Outperforming Its Peers Given Strong Visibility On The Order Book: ICICI Securities

Syrma aims to fund its capex until FY25 from remaining IPO proceeds as well as internal accruals.

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Syrma - To Continue Outperforming Its Peers Given Strong Visibility On The Order Book: ICICI Securities

Syrma aims to fund its capex until FY25 from remaining IPO proceeds as well as internal accruals.

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