Syrma SGS Share Price: 40.1% CAGR in 3 Years as This EMS Player Takes On Dixon and Netweb
- November 10, 2026
- Posted by: Kunal Singla
- Category: Best Stocks
Syrma SGS Share Price: 40.1% CAGR in 3 Years as This EMS Player Takes On Dixon and Netweb
Syrma SGS previous close Rs 1,462. 3-year CAGR 40.1%. Up 2.8x since 9 Nov 2023. ROE 13.85%. Market cap Rs 28,192 crore.
Quick Answer
The Syrma SGS share price closed at Rs 1,462 on 9 November 2026, a compounded annual return of 40.1% over three years. That compares with Dixon Technologies at 33.4% and Netweb Technologies at 70.7%. The company has a market cap of Rs 28,192 crore and a P/E of 61.35 against an industry P/E of 64.23.
The Syrma SGS share price has been one of the busier names in Indian electronics manufacturing. Syrma SGS Technology, the Chennai-based electronics manufacturing services company that listed in 2022, builds products for industrial, automotive, healthcare and consumer customers, and its stock has more than doubled over three years.
We compare that run with Dixon Technologies and Netweb Technologies, two other well known names in the space. The article calculates three-year CAGR for all three and sets the results beside market cap, valuation, return on equity and debt, with prices adjusted for corporate actions.
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How Much Has the Syrma SGS Share Price Returned in 3 Years?
The Syrma SGS stock closed at Rs 531.35 on 9 November 2023 and at Rs 1,462.00 on 9 November 2026. Rs 1 lakh invested three years ago would have grown to about Rs 2.75 lakh, which is a CAGR of 40.1%. This is a price return and leaves out dividends.
CAGR condenses a bumpy three-year ride into one yearly number, which is why it is the fairest way to compare companies of different sizes. A stock such as Syrma SGS can look spectacular on a chart and still have earned a modest yearly return, so the compounded figure keeps the comparison honest.
The Syrma SGS share price has also drawn attention because of the push to manufacture electronics in India, which has widened the order books of contract manufacturers.
Syrma SGS vs Dixon Technologies and Netweb Technologies: 3-Year CAGR Compared
The table ranks the companies by three-year CAGR. Prices on 9 November 2023 are adjusted for splits and bonuses, and the latest figures are the previous close on 9 November 2026.
| Company | Close on 9 Nov 2023 | Previous close (9 Nov 2026) | Price multiple | 3-year CAGR |
|---|---|---|---|---|
| Netweb Technologies | Rs 771.80 | Rs 3,839.00 | 5.0x | 70.7% |
| Syrma SGS Technology | Rs 531.35 | Rs 1,462.00 | 2.8x | 40.1% |
| Dixon Technologies | Rs 5,305.85 | Rs 12,603.00 | 2.4x | 33.4% |
The Syrma SGS stock ranks second of the three at 40.1%. It sits ahead of Dixon Technologies (33.4%). The company ahead is Netweb Technologies (70.7%). Netweb leads the group, with Syrma SGS in second place and Dixon, the largest of the three by market cap, in third. All three compounded at a healthy pace, so the order reflects the size of the starting base as much as business quality.
Look at the Syrma SGS share price alongside the peers as a snapshot of the last three years. It describes what happened, and valuation and earnings will decide what happens next.
Valuation and Quality Compared
| Company | Market cap | P/E | Industry P/E | ROE | Debt to equity |
|---|---|---|---|---|---|
| Dixon Technologies | Rs 77,092 crore | 44.12 | 45.38 | 26.38% | 0.21 |
| Syrma SGS Technology | Rs 28,192 crore | 61.35 | 64.23 | 13.85% | 0.27 |
| Netweb Technologies | Rs 22,835 crore | 62.41 | 31.28 | 17.39% | 0.16 |
By market cap, Dixon Technologies is the largest of the group at Rs 77,092 crore, while the Syrma SGS stock stands at Rs 28,192 crore, about 37% of that size. On earnings, Syrma SGS shares trade at a P/E of 61.35 against an industry P/E of 64.23, a discount of about 4% to the sector, which leaves room if earnings keep growing. Peer multiples are Dixon Technologies at 44.12 and Netweb Technologies at 62.41.
Return on equity is 13.85% for the Syrma SGS stock, which ranks third among the three, and debt to equity stands at 0.27. Trailing EPS is Rs 23.83. Electronics manufacturers often carry high multiples when order books are growing, so the P/E should be read together with return on equity and the pace of earnings growth.
What Is Driving the Syrma SGS Stock?
Syrma SGS Technology designs and manufactures electronic products for other companies. Its work spans printed circuit board assembly, RFID tags, magnetics and box build products for automotive, industrial, healthcare and consumer clients.
A manufacturer with several end markets is less tied to the cycle of one customer group. The company has also been adding capacity and capabilities, such as new product lines, to win larger and more complex orders.
Followers of the Syrma SGS share price usually track order wins, capacity additions, margins and the share of revenue from newer segments such as automotive and healthcare electronics.
How the Established Players Stack Up
Dixon Technologies is the largest home grown electronics manufacturing services player, making televisions, mobile phones, appliances and lighting for leading brands. It compounded at 33.4% a year, on a market cap of Rs 77,092 crore and an ROE of 26.38%.
Netweb Technologies builds high performance computing systems and servers for research, enterprise and government customers. It compounded at 70.7% a year, on a market cap of Rs 22,835 crore and an ROE of 17.39%.
What Should Investors Track Next?
Three things are worth watching on the Syrma SGS share price. First, the order book and the pace at which it converts into revenue. Second, margins as the company scales into more complex products. Third, working capital needs, since contract manufacturing ties up money in inventory.
At a P/E of 61, the stock already prices in strong growth. A three-year CAGR describes the past, so size any position accordingly.
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How to Compare Electronics Manufacturing Stocks Yourself
You can repeat this exercise for any pair of stocks, including the Syrma SGS stock against its peers. Note the adjusted closing price on the base date, take the latest close, divide one by the other, raise the result to the power of one third and subtract one. Then place the CAGR next to market cap, P/E against the industry P/E, ROE and debt to equity. Benchmark the result against the Nifty 50 as well, so you know whether the stock beat the broader market.
A stock that scores well on growth but weakly on quality, or the reverse, deserves closer study before it enters a portfolio. When tracking the Syrma SGS share price, the same four checks give a more complete picture than price alone.
Download the Univest iOS App or Univest Android App to track the Syrma SGS share price and compare electronics stocks live.
A Fast Growing Manufacturer in a Policy Supported Space
The Syrma SGS share price compounded at 40.1% a year over three years, ahead of Dixon at 33.4% and behind Netweb at 70.7%. Its ROE of 13.85% sits below Dixon at 26.38% and Netweb at 17.39%.
Dixon brings scale and a higher ROE, Netweb brings a focused computing niche, and Syrma SGS brings a diversified customer base. Matching the choice to your risk appetite matters more than the highest number in the table.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What is the Syrma SGS share price today?
Ans. Syrma SGS Technology closed at Rs 1,462 on 9 November 2026, according to NSE data. It has a market cap of Rs 28,192 crore and a P/E of 61.35. Check live quotes before acting, as prices change every trading day.
What is the 3-year CAGR of the Syrma SGS stock?
Ans. Syrma SGS Technology delivered a price CAGR of 40.1% over three years, moving from Rs 531.35 on 9 November 2023 to Rs 1,462.00 on 9 November 2026. The figure excludes dividends and uses adjusted closing prices.
Is Syrma SGS better than Dixon?
Ans. The Syrma SGS stock delivered a higher three-year CAGR at 40.1% than Dixon at 33.4%. Dixon is larger by market cap at Rs 77,092 crore and has the higher ROE at 26.38% against 13.85%. The better choice depends on whether you prefer scale or faster recent growth.
What does Syrma SGS Technology do?
Ans. Syrma SGS Technology is a Chennai-based electronics manufacturing services company that makes printed circuit board assemblies, RFID products and box build products for industrial, automotive, healthcare and consumer customers.
Is the Syrma SGS stock debt free?
Ans. The debt to equity ratio of the Syrma SGS stock is 0.27 and its return on equity is 13.85%. Always check the latest balance sheet for current figures, as debt levels change with expansion plans.
Is Syrma SGS expensive compared with the industry?
Ans. Syrma SGS trades at a P/E of 61.35 against an industry P/E of 64.23. A higher multiple reflects expectations of faster growth, which the company must deliver through earnings.
Which electronics manufacturing stock gave the highest return in 3 years?
Ans. Among the companies compared here, Netweb Technologies delivered the highest three-year CAGR at 70.7%, followed by Syrma SGS Technology at 40.1%. Past returns do not guarantee future performance.
How do I calculate CAGR for a stock?
Ans. Divide the latest price by the starting price, raise the result to the power of one divided by the number of years, and subtract one. Multiply by 100 for a percentage. Use split and bonus adjusted prices for accurate results.
