Syrma SGS Technology Ltd Share Price

Description

• Syrma SGS Technology Ltd was incorporated as `Syrma Technology Private Limited` pursuant to a Certificate of Incorporation dated August 23, 2004, issued by Registrar of Companies, Maharashtra in Mumbai. Pursuant to a Resolution passed by Shareholders in the Extra Ordinary General Meeting held on August 28, 2021, the name of Company was changed from `Syrma Technology Private Limited` to `Syrma SGS Technology Private Limited`, and consequently, a fresh Certificate of Incorporation dated September 14, 2021, was issued by RoC to the Company. Thereafter, Company was converted from a Private Limited Company to a Public Limited Company, pursuant to a Resolution passed in the Extra Ordinary General Meeting of Shareholders held on October 6, 2021, and name of the Company was changed to Syrma SGS Technology Limited, and a fresh Certificate of Incorporation dated October 20, 2021, was issued to Company by the RoC. The Company, founded in 1978 by industry pioneers (Tandon family), is located in San Jose (California), and Chennai (India), developing quality technology products. It is one of India`s leading exporters of electronics, providing a high-value integrated design and production solution for internationally recognized OEMs. Mr. Sandeep Tandon, Mr. Jasbir Singh Gujral, Mrs. Veena Kumari Tandon and Tancom Electronics Pvt. Ltd. are the Present Promoters of the Company. The Company is a technology-focussed engineering and design Company engaged in turnkey electronics manufacturing services, specialising in precision manufacturing for diverse end-use industries. The Company has a record of technical innovation which involves working with engineering teams of marquee customers. At present, it operates through 11 manufacturing facilities spread across Tamil Nadu, Karnataka, Himachal Pradesh, Uttar Pradesh and Haryana. The Company has a product portfolio with applications across diverse end-use industries. The products are primarily focused toward ODMs and OEMs serving end-use industries including the automotive, healthcare, IT, industrial appliances, energy management, water purification, power supply and consumer products industries. The Company has three R&D facilities, of which 2 located in India at Chennai, Tamil Nadu and Gurgaon, Haryana respectively, and 1 in Stuttgart, Germany. Apart from this, the Company has a robust supplier network which included over suppliers in India and overseas, in over 19 countries, including USA, Singapore and China. The manufacturing processes are monitored and controlled through Company`s manufacturing execution systems, which allows for the product and process traceability through barcodes. This enables to capture data in real time, thus empowering its personnel to have a 360 degree view of shop floor inventory, process efficiency and process quality which results in an overall improvement in productivity. In addition to its existing manufacturing, and engineering and design services offerings, the Company provide prototyping services, tester development and repair and rework services. The Company undertake the NPI (New Product Introduction) process through Mentor Graphics software platform. Apart from this, it also has process-based quality systems in place for the entire production cycle, including in respect of procurement, receipt and incoming inspection, storage and packaging, and stage wise quality checks on the production line. The Company has a robust supplier network which included suppliers, in India and overseas, in over 19 countries, including USA, Singapore and China. The Company also has comprehensive documented procedures for vendor selection and certification. Since, all of the manufacturing facilities are certified, including ISO 14001 and ISO 9001, the Company conduct periodic audits to ensure compliance with the quality standards and specifications. In 2006, the Company set up manufacturing unit in MEPZ-SEZ, Chennai. In 2007, the Company designed and manufactured direct digital dental X-ray FGPA controllers in connection to healthcare industry. The Company began to cater to the automotive end-use industry with the manufacture of hall sensor PCBAs in 2007. In 2008, the Company manufactured set top boxes to address the requirements of home entertainment industry. The Company also ventured into manufacturing of GSM antenna, pursuant to the advent of 3G technology in India. In 2009, the Company progressed to manufacturing of vehicle tracking systems and toll management systems. In 2010, the Company established a manufacturing facility in Bargur and further commenced manufacturing of automatic dimmers for homes. In 2012, it commenced manufacturing beacons for vehicles. In 2013, the Company received Best SEZ (MSME: Computer Hardware) by Export Promotion Council for EOUs & SEZs at the EPCES Export Awards for 2010-11. The Company proceeded to manufacturing of boiler management PCBA units. In 2014, the Company set up first research & development department in India. The Company also progressed in manufacturing of PCBAs for X-ray machines. In December 2014, the Company acquired Tovya Automation. The Company further proceeded in manufacturing energy-efficient electronic inverters and home appliance control PCBAs. In 2015, the Company proceeded in manufacturing of controller units for air conditioners. PCBAs for smart canes for visually challenged people was designed and manufactured in 2015. In April 2016, the merger of 3G Communication Private Limited was done. In 2016, it received third place in medium scale process under supervisor category at the 11th edition of CII Southern Region Kaizen Competition 2016 and thereafter, commenced manufacturing RFID tags. It proceeded to manufacturing of induction cooktop components.Subsequently, pursuant to advancements to 4G technology, the company proceeded to manufacture 4G and LTE antenna. In 2018, the Company established manufacturing facility in Bawal; Further, the Company started `Zone of Autonomous Creation` to support the provision of rapid prototyping services and another manufacturing unit in the MEPZ-SEZ, Chennai respectively. In 2018, the Company prioritized place in manufacturing sector medium scale in the 3rd edition of CII Southern Region Poka Yoke Competition 2018. It augmented reality equipment for ophthalmological applications. In 2019, the Company commenced offering repair and rework services. In 2020, the Company commenced manufacture of controllers of the EV battery management systems and made investments in the Company by South Asia Growth Fund II Holdings LLC and South Asia EBT Trust. The Company augmented PCBAs for baby case CPAP ventilators in year 2020. In June 2020, the Company got amalgamated with Reliable Consultancy Services Private Limited vide the Order of the National Company Law Tribunal, Mumbai. In year of 2021, the Company acquired SGS Tekniks Manufacturing Private Limited and 75% of issued and paid up share capital of Perfect ID India Private Limited. In 2021, the Company installed 4W lighting system boards. In 2021, the Company obtained Certificate of Merit in Environment Management (SME) for the Year 2020-21 at the ELCINA Awards; won 2nd Prize in Quality (SME) for the Year 2020-21 at the 46th ELCINA Awards; 1st prize in Business Excellence (SME) for the Year 2020-21 at the 46th ELCINA Awards and Certificate of Appreciation for outstanding contribution in Promotion of Electronics (manufacturing IOT devices) awarded by the Ministry of Electronics and Information Technology (MoIT). Apart from business strategy to expand market share in EMS sector and widen its geographical footprint in national market, the Company acquired SGS Tekniks in September 2021 and Perfect ID in October 2021. Pursuant to this acquisition, the Company as well increased manufacturing capacities and in-house R&D capabilities, in expanding the existing supplier network.

• Syrma SGS Technology Ltd was incorporated as `Syrma Technology Private Limited` pursuant to a Certificate of Incorporation dated August 23, 2004, issued by Registrar of Companies, Maharashtra in Mumbai. Pursuant to a Resolution passed by Shareholders in the Extra Ordinary General Meeting held on August 28, 2021, the name of Company was changed from `Syrma Technology Private Limited` to `Syrma SGS Technology Private Limited`, and consequently, a fresh Certificate of Incorporation dated September 14, 2021, was issued by RoC to the Company. Thereafter, Company was converted from a Private Limited Company to a Public Limited Company, pursuant to a Resolution passed in the Extra Ordinary General Meeting of Shareholders held on October 6, 2021, and name of the Company was changed to Syrma SGS Technology Limited, and a fresh Certificate of Incorporation dated October 20, 2021, was issued to Company by the RoC. The Company, founded in 1978 by industry pioneers (Tandon family), is located in San Jose (California), and Chennai (India), developing quality technology products. It is one of India`s leading exporters of electronics, providing a high-value integrated design and production solution for internationally recognized OEMs. Mr. Sandeep Tandon, Mr. Jasbir Singh Gujral, Mrs. Veena Kumari Tandon and Tancom Electronics Pvt. Ltd. are the Present Promoters of the Company. The Company is a technology-focussed engineering and design Company engaged in turnkey electronics manufacturing services, specialising in precision manufacturing for diverse end-use industries. The Company has a record of technical innovation which involves working with engineering teams of marquee customers. At present, it operates through 11 manufacturing facilities spread across Tamil Nadu, Karnataka, Himachal Pradesh, Uttar Pradesh and Haryana. The Company has a product portfolio with applications across diverse end-use industries. The products are primarily focused toward ODMs and OEMs serving end-use industries including the automotive, healthcare, IT, industrial appliances, energy management, water purification, power supply and consumer products industries. The Company has three R&D facilities, of which 2 located in India at Chennai, Tamil Nadu and Gurgaon, Haryana respectively, and 1 in Stuttgart, Germany. Apart from this, the Company has a robust supplier network which included over suppliers in India and overseas, in over 19 countries, including USA, Singapore and China. The manufacturing processes are monitored and controlled through Company`s manufacturing execution systems, which allows for the product and process traceability through barcodes. This enables to capture data in real time, thus empowering its personnel to have a 360 degree view of shop floor inventory, process efficiency and process quality which results in an overall improvement in productivity. In addition to its existing manufacturing, and engineering and design services offerings, the Company provide prototyping services, tester development and repair and rework services. The Company undertake the NPI (New Product Introduction) process through Mentor Graphics software platform. Apart from this, it also has process-based quality systems in place for the entire production cycle, including in respect of procurement, receipt and incoming inspection, storage and packaging, and stage wise quality checks on the production line. The Company has a robust supplier network which included suppliers, in India and overseas, in over 19 countries, including USA, Singapore and China. The Company also has comprehensive documented procedures for vendor selection and certification. Since, all of the manufacturing facilities are certified, including ISO 14001 and ISO 9001, the Company conduct periodic audits to ensure compliance with the quality standards and specifications. In 2006, the Company set up manufacturing unit in MEPZ-SEZ, Chennai. In 2007, the Company designed and manufactured direct digital dental X-ray FGPA controllers in connection to healthcare industry. The Company began to cater to the automotive end-use industry with the manufacture of hall sensor PCBAs in 2007. In 2008, the Company manufactured set top boxes to address the requirements of home entertainment industry. The Company also ventured into manufacturing of GSM antenna, pursuant to the advent of 3G technology in India. In 2009, the Company progressed to manufacturing of vehicle tracking systems and toll management systems. In 2010, the Company established a manufacturing facility in Bargur and further commenced manufacturing of automatic dimmers for homes. In 2012, it commenced manufacturing beacons for vehicles. In 2013, the Company received Best SEZ (MSME: Computer Hardware) by Export Promotion Council for EOUs & SEZs at the EPCES Export Awards for 2010-11. The Company proceeded to manufacturing of boiler management PCBA units. In 2014, the Company set up first research & development department in India. The Company also progressed in manufacturing of PCBAs for X-ray machines. In December 2014, the Company acquired Tovya Automation. The Company further proceeded in manufacturing energy-efficient electronic inverters and home appliance control PCBAs. In 2015, the Company proceeded in manufacturing of controller units for air conditioners. PCBAs for smart canes for visually challenged people was designed and manufactured in 2015. In April 2016, the merger of 3G Communication Private Limited was done. In 2016, it received third place in medium scale process under supervisor category at the 11th edition of CII Southern Region Kaizen Competition 2016 and thereafter, commenced manufacturing RFID tags. It proceeded to manufacturing of induction cooktop components.Subsequently, pursuant to advancements to 4G technology, the company proceeded to manufacture 4G and LTE antenna. In 2018, the Company established manufacturing facility in Bawal; Further, the Company started `Zone of Autonomous Creation` to support the provision of rapid prototyping services and another manufacturing unit in the MEPZ-SEZ, Chennai respectively. In 2018, the Company prioritized place in manufacturing sector medium scale in the 3rd edition of CII Southern Region Poka Yoke Competition 2018. It augmented reality equipment for ophthalmological applications. In 2019, the Company commenced offering repair and rework services. In 2020, the Company commenced manufacture of controllers of the EV battery management systems and made investments in the Company by South Asia Growth Fund II Holdings LLC and South Asia EBT Trust. The Company augmented PCBAs for baby case CPAP ventilators in year 2020. In June 2020, the Company got amalgamated with Reliable Consultancy Services Private Limited vide the Order of the National Company Law Tribunal, Mumbai. In year of 2021, the Company acquired SGS Tekniks Manufacturing Private Limited and 75% of issued and paid up share capital of Perfect ID India Private Limited. In 2021, the Company installed 4W lighting system boards. In 2021, the Company obtained Certificate of Merit in Environment Management (SME) for the Year 2020-21 at the ELCINA Awards; won 2nd Prize in Quality (SME) for the Year 2020-21 at the 46th ELCINA Awards; 1st prize in Business Excellence (SME) for the Year 2020-21 at the 46th ELCINA Awards and Certificate of Appreciation for outstanding contribution in Promotion of Electronics (manufacturing IOT devices) awarded by the Ministry of Electronics and Information Technology (MoIT). Apart from business strategy to expand market share in EMS sector and widen its geographical footprint in national market, the Company acquired SGS Tekniks in September 2021 and Perfect ID in October 2021. Pursuant to this acquisition, the Company as well increased manufacturing capacities and in-house R&D capabilities, in expanding the existing supplier network.