Semiconductor stock engaged in manufacturing and designing various electric sub-assemblies, disk drives, fiber optic assemblies, and many more slumped 16 percent in the day’s trade despite a jump in Net Profits by 123 percent in Q4FY24.
With a market capitalization of Rs. 7,384 Crores, the shares of Syrma SGS Technology Limited were trading at Rs. 417.65, down 11.45 percent from its previous day’s close price of Rs. 471.65.
Its revenue from operations grew by 67 percent YoY from Rs. 679.52 Crores in Q4FY23 to Rs. 1,134.09 Crores in Q4FY24 and it grew by 61 percent QoQ from Rs. 706.71 Crores in Q3FY24 to Rs. 1,134.09 Crores in Q4FY24. Annually it generated a revenue of Rs. 2,048.38 Crores in FY23 and Rs. 3,153.83 Crores in FY24 indicating a growth of 54 percent YoY.
Its Net Profit grew by 6 percent YoY from Rs. 428.81 Crores in Q4FY23 to Rs. 452.14 Crores in Q4FY24 and it grew by 123 percent QoQ from Rs. 202.83 Crores in Q3FY24 to Rs. 452.14 Crores in Q4FY24. Annually it generated a profit of Rs. 1,230.76 Crores in FY23 and Rs. 1,243.4 Crores in FY24 indicating a growth of 1 percent YoY.
In Addition, the Board of Directors of Syrma SGS Technology Limited has announced issuing a Final Dividend of Rs. 1.5 per equity share with a face value of Rs. 10 per share for the financial year 2023-24.
Further, it has also approved raising funds for an aggregate amount not exceeding Rs. 1000 Crores by way of issuance of such number of equity shares having face value of Rs. 10 each of the Company by way of Qualified Institutional Placement or other permissible mode.
Syrma SGS Technology Limited is an engineering and design company engaged in the business of manufacturing and designing various electric sub-assemblies, disk drives, fiber optic assemblies, and many more.
Syrma SGS Technology Limited has incorporated a wholly-owned subsidiary company named Syrma Semicon Private Limited to carry on full-fledged, designing, manufacturing selling, and other related work of semiconductors.
Written by: Bharath K.S
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