Syrma SGS plans JV with Kaga Electronics; Q1 net profit doubles

Mumbai: Electronics manufacturing services (EMS) company Syrma SGS Technology plans to invest ₹25 crore this fiscal year through its joint venture with Japan's Kaga Electronics to strengthen its domestic supply ecosystem.

The two companies formed the joint venture in June to set up an advanced EMS manufacturing facility at Syrma's existing plant in Haryana, Managing Director Jasbir Singh Gujral told ET.

The partnership comes as global electronics supply chains continue to diversify beyond China.

Meanwhile, Chennai-based Syrma reported a more than two-fold rise in consolidated net profit for the June quarter, driven by strong growth in its automotive, consumer and export businesses.

Consolidated net profit rose to ₹105.7 crore in the April-June period from a year earlier, while revenue from operations jumped 67% to ₹1,603.7 crore. EBITDA increased 72% to ₹176.6 crore.

Gujral said customer programmes onboarded during FY26 have now entered the scaling phase.

Exports remained a key growth driver, contributing 24% of operating revenue during the quarter and registering 67% year-on-year growth. The company said it will continue expanding its industrial and export businesses while strengthening its presence in medtech and maritime electronics.