This electronic manufacturing stock gained 8.4% in today’s trading session after the company approved and appointed its new CEO with immediate effect.
Share prices of Syrma Limited opened at Rs. 496.05 and reached its 52- week high at Rs. 539.95. The stock has returned a total of 100.77% in six months and 72.90% consistently in the last 5 years.
On 24th August, 2023, the Board of Directors considered and appointed Mr. Satendra Singh as their new Chief Executive Officer( CEO) with immediate effect. The new CEO was earlier associated with Nokia Helsinki and Flex International. Mr. Singh has finished his Master’s degree in MS Manufacturing Management from BITS Pilani and also participated in an advanced management program from IIM Bangalore.
For Q1FY24, the company has lower margins compared to the last quarter. The revenue for the June quarter stands at Rs. 601.31 crore which is a decrease of 11.51% from Rs. 679.53 crore in the previous quarter. Its net profit for this quarter is Rs. 28.52 crore which is a fall of 32.61% from Rs. 42.32 crore in the previous quarter.
Syrma SGS Technology Limited is an electronic manufacturing company. It is a technology based design and engineering company focusing on turnkey electronics manufacturing services (EMS). The company provides a wide range of services to its clients including product design and engineering, ATE programming, and many more.
Written by Bhumika Khandelwal
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