Syrma SGS shares jump 6%: Company to acquire 60% stake in Elcome; check Q2 numbers

The stock in the opening deals jumped as much as 5.98% to ₹856.40 on the NSE.

Elcome, the press release said, is a long-established Indian defence and maritime electronics company specialising in advanced electronic systems, integrated command solutions, and indigenous mission-critical technologies.

The company added that the remaining 40% stake will be acquired in multiple tranches over the next three years, linked to performance and earn-out milestones.

"This acquisition marks a strategic step for Syrma SGS in advancing its presence in defence electronics, an area of increasing national priority. The combination brings together Elcome’s deep domain expertise with Syrma SGS’s established strengths in industrial-scale manufacturing, supply chain reach and product engineering, enhancing the shared ability to deliver high-reliability systems to defence customers," the press release added.

About Elcome

Founded in 1978 and headquartered in Navi Mumbai, Elcome has been a trusted partner to the Indian Defence and Maritime establishments and national research organisations for over four decades.

The company has strong capabilities in the design, integration and support of navigation, communication and surveillance systems, including integrated bridge systems, navigation radars and maritime communication suites.

These are deployed across the Indian Navy and maritime platforms, backed by a nationwide field service network.

Syrma SGS Q2 FY26 Results

According to the company's investor presentation, the company posted a consolidated profit after tax (PAT) of ₹66.3 crore, up 67.3% YoY. Its revenue from operations came in at ₹1,145.9 crore, up 37.1% YoY, while total revenue stood at ₹1,154.6 crore, up 37.0%.

EBITDA saw a rise of 53.1% YoY to ₹124 crore. EBITDA stands for earnings before interest, taxes, depreciation, and amortisation.

Segment-wise performance

🏭 Industry Segment Performance – Q2 FY26

• IT & Railways segment recorded exceptional growth with a 222% QoQ and 298% YoY increase.
• Consumer segment maintained strong momentum, growing 35% YoY.
• Industrials saw a slight (8%) QoQ decline, though still 9% higher YoY.
• Overall revenue surged 21% QoQ and 38% YoY, indicating broad-based expansion.

About Syrma SGS Technology

Syrma SGS Technology is an electronics manufacturing services (EMS) company that offers integrated design and manufacturing solutions to global and domestic OEMs.

It was incorporated in 2004. The company is established after the merger of two engineering firms and provides end-to-end services from concept co-creation to volume production.

It operates across various sectors, including industrial, medical, automotive, and defence, and its in-house magnetics component manufacturing provides a competitive advantage for customers in the power supply domain.