Shares of opened sharply higher on Tuesday before reversing course, trading down 2.57 per cent at ₹1,084 on the NSE as of 10.15 am — a day after the electronics manufacturer posted its strongest annual results to date.
The stock opened at ₹1,155, touching a 52-week high of ₹1,188 intraday before sellers took over. With sell orders outnumbering buy orders roughly 70:30 — 3,85,274 units on the sell side against 1,62,527 on the buy side — the stock is under visible distribution pressure in early trade. Traded volume has already crossed 63.49 lakh shares, with traded value at ₹722.90 crore, signalling heavy participation. The stock’s previous close was ₹1,112.60.
A key overhang on the stock is the scrapping of the proposed acquisition of K-Solare Energy Private Limited. Syrma SGS and Premier Energies Limited had announced plans to jointly acquire a 49 per cent equity stake in K-Solare, a solar energy firm, with disclosures dating back to October 2025. On Monday, Syrma SGS informed the exchanges that the deal has been called off as the conditions precedent were not fulfilled. The company said it remains committed to the renewable energy electronics space and will evaluate alternative opportunities, but the termination has clearly disappointed investors who had priced in the strategic expansion.
On the results front, the company posts record numbers. For FY26, Syrma SGS reported total revenue of ₹4,856.9 crore, up 27 per cent year-on-year, while PAT surged 87 per cent to ₹345.8 crore. EBITDA margins expanded to 12 per cent from 9.7 per cent in FY25. For Q4 FY26 specifically, revenue grew 56 per cent year-on-year to ₹1.476.8 crore, with PAT up 67 per cent. The company also turned net cash positive, ending FY26 with net cash of ₹467.2 crore against net debt of ₹263.9 crore a year earlier.
Despite the strong operational delivery, the stock’s P/E of 62 and the deal collapse appear to be driving profit-booking in early trade. The stock has gained over 100 per cent in the past year and 50.68 per cent year-to-date, leaving it vulnerable to near-term selling on any negative news flow.