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Syrma SGS and Elemaster announce strategic JV to strengthen High-Reliability Electronics Manufacturing in India

Posted On : 2025-09-02 09:40:32( TIMEZONE : IST )

Syrma SGS Technology Limited ("Syrma SGS"), a leading Indian electronics systems design and manufacturing company, today announced the signing of a Joint Venture Agreement ("JVA") with Elemaster S.p.A Tecnologie Elettroniche ("Elemaster"), a global electronics design and manufacturing leader headquartered in Italy.

The joint venture, to be operated through Syrma SGS Design and Manufacturing Private Limited (to be renamed as "Syrma SGS Elemaster Private Limited"), will establish a dedicated India-focused platform to serve high-reliability customers across the railway, industrial, and medical electronics sectors. The facility will be located at Bommasandra Industrial Area, Bengaluru, with an initial footprint of ~20,000 sq. ft., configured for SMT, THT, and box-build assembly lines.

The partnership combines Syrma's scaled and cost-efficient execution with Elemaster's deep design expertise and long-standing trust with European OEMs. By consolidating efforts in India, the JV will unlock margin-accretive opportunities, increase share-of-wallet with global accounts, and further embed "Make in India" solutions into critical, high-growth end-markets.

Commenting on this announcement, Sandeep Tandon, Chairman, Syrma SGS Technology said "This joint venture represents a milestone in our journey to build a global high-reliability electronics platform out of India. By combining Syrma's world-class execution with Elemaster's deep relationships with European OEMs, we are unlocking new growth vectors in rail, industrial, and medical segments. This partnership strengthens India's position as a trusted global hub for high-tech manufacturing and will deliver long-term value to our customers and stakeholders."

Satendra Singh, CEO, Syrma SGS Technology Limited, said, "Our collaboration with Elemaster is built on complementary strengths. The JV structure ensures dedicated focus on high-reliability customers, efficient cost structures, and scalable operations. With a phased expansion plan and joint governance, the platform is well-positioned to drive accretive growth across railway, industrial, and medical electronics."

Valentina Cogliati, CEO, Elemaster Group said "India is a strategic market for our customers, and this joint venture with Syrma SGS gives us a reliable, competitive, and scalable base in the region. Together, we will bring Elemaster's design depth and customer relationships to India, aligned with Syrma's strong manufacturing pedigree. We are excited to deepen our commitment to our global OEM partners and expand their presence through high-quality, Made-in-India solutions."

Giovanni Cogliati, CCO Elemaster Group said "I'm very proud that we made this important evolution step of the relationship between Elemaster and Syrma as the result of the great cooperation we had over the past years. It represents a solid solution for existing and new customers that have the need of local production in India. The relevant investments in manufacturing spaces, machineries and organization will allow us to manage many new opportunities granting high service level."

Shares of Syrma SGS Technology Limited was last trading in BSE at Rs. 755.15 as compared to the previous close of Rs. 753.00. The total number of shares traded during the day was 60883 in over 3087 trades.

The stock hit an intraday high of Rs. 774.00 and intraday low of 725.00. The net turnover during the day was Rs. 45732755.00.