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SGIL Retains FY27 Revenue Target of ₹500 Cr (33% Growth); Ramps Up 45,000 MT Foundry Capacity
In its Q1 FY27 earnings call, Synergy Green Industries Limited reported total income of ₹75.71 crore with a PBDIT margin of 7% (₹5.3 crore), impacted by West Asia logistics bottlenecks, delayed customer lifting, and power tariff revisions. Management reaffirmed its full-year FY27 guidance of 33% revenue growth to reach ₹500 crore (compared to TTM revenue of ₹308 crore) and expects annual PBDIT margins to improve by 300 basis points. Capacity utilization on the newly expanded 45,000 MT foundry reached 66% in Q1 and improved to 85% in July. Product clearances progressed with POs received for the Nordex 5 MW platform and tooling underway for the Vestas 4 MW platform.
Confidence: HIGH
What changedSGIL released its Q1 FY27 earnings call transcript outlining operational ramp-up, OEM platform approvals, and full-year FY27 financial guidance.
Why it mattersConfirms the operational ramp-up of the expanded 45,000 MT casting capacity and value-added machining (20,000 MT), which are critical to scaling revenues and servicing high-capacity wind turbine orders.
Q1 FY27 Total Income: ₹75.71 crFY27 Revenue Target: ₹500 crFY27 Target vs TTM Revenue: ~162%Q1 FY27 PBDIT Margin: 7%Installed Foundry Capacity: 45,000 MT
📅 Short termQ2 execution is expected to benefit from customer lifting normalization, easing of prototype delays, and cost-pass-through with a 1-quarter lag.
📈 Long termExpansion into higher-margin >4 MW platforms (Vestas, Nordex) and scaling in-house machining should drive operating leverage, supporting long-term margin improvement towards 15-18%.
⚠ Risk flags
- High leverage with D/E at 2.23 (Debt of ₹250 cr vs Net worth ₹112 cr)
- Global shipping constraints and customer-specific scheduling delays
- Lag in passing on consumable and power tariff inflation to clients
Key Highlights
Q1 FY27 total income recorded at ₹75.71 crore with PBDIT of ₹5.3 crore (7% margin).
Management maintained full-year FY27 guidance of ₹500 crore revenue (~62% above TTM revenue of ₹308 crore) and a 300 bps margin expansion.
Capacity utilization of the expanded 45,000 MT/annum foundry stood at 66% in Q1 and ramped up to 85% in July 2026.
Received prototype clearance and export POs for Nordex 5 MW platform; tooling underway for Vestas 4 MW platform.
👀 What to Watch
Monitor Q2 and Q3 revenue trajectory to assess whether quarterly execution ramps up toward the ~₹125-140 crore required to hit the ₹500 crore annual guidance, alongside margin recovery via price indexation.
SGIL Reports ₹10.11 Cr Q1 Loss; Management Guides for ₹500 Cr FY27 Revenue
Synergy Green Industries (SGIL) reported a weak Q1 FY27 with a net loss of ₹10.11 Cr, a sharp reversal from a ₹3.38 Cr profit in the same quarter last year. Revenue declined to ₹75.71 Cr due to logistics disruptions in West Asia and delayed customer material lifting. Despite the poor start, management has maintained an aggressive FY27 revenue guidance of ₹500 Cr, implying a 33% growth over FY26. The company expects margin recovery in Q2 FY27 through price indexation and a new 5MW wind power purchase agreement to offset high electricity costs.
Confidence: HIGH
What changedSGIL transitioned from a profitable quarter to a significant loss due to cost pressures and logistics delays, while simultaneously setting a high growth target for the full year.
Why it mattersWith a high Debt-to-Equity ratio of 2.23, the company's ability to scale revenue and maintain margins is critical for debt servicing and justifying its high P/E valuation.
Q1 Net Loss: ₹10.11 CrFY27 Revenue Guidance: ₹500 CrGuidance vs TTM Revenue: 162%Debt-to-Equity Ratio: 2.23Current Capacity: 45,000 MT
📅 Short termThe stock may face pressure due to the significant Q1 loss and margin contraction from 15.4% to 7.0% YoY.
📈 Long termThe structural story depends on the successful execution of the 100,000 MT capacity expansion and onboarding large OEMs like Adani and Envision.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High Debt-to-Equity (2.23)
- Raw material price volatility
- Logistics disruptions affecting export timelines
- High client concentration in the wind sector
Key Highlights
Reported a Net Loss of ₹10.11 Cr in Q1 FY27 against a profit of ₹3.38 Cr in Q1 FY26.
Management projects FY27 revenue at ₹500 Cr, which is ~1.6x the TTM revenue of ₹308 Cr.
Raw material and consumable inflation cumulatively impacted margins by 500 bps in Q1.
Current foundry capacity is 45,000 TPA, with a long-term roadmap to reach 100,000 TPA.
Order book supports a 33% revenue growth target for the full fiscal year 2026-27.
👀 What to Watch
Investors should closely monitor Q2 FY27 results to see if the promised margin recovery (via price indexation) and revenue catch-up materialize to meet the ₹500 Cr annual target.
Rs 334 Cr Bank Facilities Reaffirmed at CRISIL BBB/Stable for Synergy Green Industries
CRISIL has reaffirmed Synergy Green Industries Limited's (SGIL) credit rating at 'BBB/Stable' for its bank facilities and fixed deposits. The total rated bank loan facilities have been enhanced to Rs 334 crore, up from the previous Rs 300.72 crore. This incremental increase of ~Rs 33.28 crore supports the company's ongoing capacity expansion towards 45,000 tons. While the rating remains stable, the company's high Debt-to-Equity ratio of 2.23 and low TTM PAT of Rs 3 crore remain key monitoring points for credit health.
Confidence: HIGH
What changedThe total amount of bank facilities covered under the CRISIL rating was increased by Rs 33.28 crore, while the credit rating itself was reaffirmed at the existing level.
Why it mattersThe reaffirmation indicates that the rating agency views the company's credit profile as stable despite the increased debt load required for its expansion into high-capacity wind generator components.
Total Rated Facilities: Rs 334 CrPrevious Rated Facilities: Rs 300.72 CrRated Facilities vs TTM Revenue: 108.4%Debt-to-Equity Ratio: 2.23TTM PAT: Rs 3 Cr
📅 Short termNeutral. The reaffirmation of the existing rating is expected to have a minimal impact on the stock price in the short term as it reflects status quo on credit risk.
📈 Long termThe enhanced credit limits provide the necessary liquidity for SGIL's Phase 1 expansion to 45,000 tons, which is structural for achieving their 20% growth target.
⚠ Risk flags
- High leverage (D/E 2.23)
- Low profitability relative to debt size
- Customer scheduling delays in the wind sector
Key Highlights
Total bank loan facilities rated increased to Rs 334 crore from Rs 300.72 crore
Long-term and Short-term ratings reaffirmed at CRISIL BBB/Stable
Fixed Deposit rating reaffirmed at CRISIL BBB/Stable
Largest single facility is a Term Loan of Rs 126 crore from The Saraswat Co-Operative Bank Limited
Total rated facilities now represent ~108% of TTM Revenue (Rs 308 Cr)
👀 What to Watch
Monitor the company's quarterly interest coverage and debt-servicing ability as it scales capacity, given the current high D/E ratio of 2.23 and thin TTM net profit of Rs 3 crore.
SGIL Reports Q1 FY27 Net Loss of ₹10.11 Cr; Targets ₹500 Cr Revenue for FY27
Synergy Green Industries (SGIL) reported a weak Q1 FY27, with revenue declining 11.3% YoY to ₹75.71 Cr and a net loss of ₹10.11 Cr, compared to a profit of ₹3.38 Cr in Q1 FY26. PBDIT margins compressed sharply to 7.0% from 15.4% due to RM inflation, logistics disruptions from the West Asia conflict, and customer delays. Despite the poor start, management has projected a 33% revenue growth for FY27, targeting ₹500 Cr, supported by its 45,000 MT capacity. The company maintains a high debt-to-equity ratio of 2.23, making operational recovery critical for debt servicing.
Confidence: HIGH
What changedSGIL shifted from profitability to a significant quarterly loss due to external logistics issues and internal margin pressures, while simultaneously announcing an aggressive long-term capacity expansion roadmap.
Why it mattersThe company is highly leveraged (D/E 2.23) and operates in a capital-intensive sector; the Q1 loss and margin compression highlight the sensitivity of the business to global supply chain disruptions and raw material costs.
Q1 FY27 Net Loss: ₹10.11 CrQ1 FY27 Revenue: ₹75.71 CrFY27 Revenue Target: ₹500 CrTarget vs TTM Revenue: 162.3%Current Capacity: 45,000 MTDebt-to-Equity Ratio: 2.23
📅 Short termThe stock may face pressure due to the unexpected quarterly loss and sharp margin contraction, despite the optimistic full-year guidance.
📈 Long termStructural growth depends on reaching the 100,000 MT capacity target and successfully onboarding large OEMs like Envision and Nordex to diversify the revenue base.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High debt-to-equity ratio (2.23)
- Logistics disruptions (West Asia conflict)
- Customer scheduling and prototype approval delays
Key Highlights
Net loss of ₹10.11 Cr in Q1 FY27 vs a profit of ₹3.38 Cr in Q1 FY26
PBDIT margins dropped to 7.0% from 15.4% YoY, impacted by ~600 bps of inflation and policy changes
Management projects FY27 revenue of ₹500 Cr, a 33% increase over FY26 revenue of ₹376 Cr
Capacity utilization in Q1 FY27 was 66%, trailing the projected 80% due to dispatch delays
Long-term capacity expansion target set at 100,000 MT by FY30, up from current 45,000 MT
👀 What to Watch
Watch for margin recovery in Q2 FY27 as management expects to recover RM and consumable inflation through price indexation and revisions. Monitor the execution of the ₹500 Cr revenue target, which requires a significant ramp-up in the remaining three quarters.
₹10.11 Cr Net Loss in Q1 FY27; Revenue down 11% YoY on Logistics and Cost Pressures
Synergy Green Industries (SGIL) reported a weak Q1 FY27, swinging to a net loss of ₹10.11 Cr from a profit of ₹3.37 Cr in the same quarter last year. Total income declined 11.32% YoY to ₹75.71 Cr, impacted by West Asia logistics disruptions and delayed material lifting. Operating margins (PBDIT) contracted sharply by 841 bps to 7.0% due to raw material and consumable inflation. Management remains optimistic for the full year, citing a 33% growth in the order book and planned price revisions starting Q2 FY27.
Confidence: HIGH
What changedThe company transitioned from a profitable quarter to a significant loss due to a combination of revenue contraction and unabsorbed cost inflation.
Why it mattersWith a high Debt/Equity ratio of 2.23, SGIL has limited room for operational losses; the sharp margin drop highlights vulnerability to supply chain and raw material shocks.
Q1 FY27 Net Loss: ₹10.11 CrRevenue Decline (YoY): 11.32%PBDIT Margin: 7.0%Order Book Growth: ~33%Q1 Revenue vs TTM Revenue: ~24.6%
📅 Short termThe stock may face pressure due to the unexpected quarterly loss and significant margin erosion reported in this management note.
📈 Long termStructural recovery depends on the successful expansion to 45,000 tons capacity and stabilizing margins through high-value machined components for global OEMs.
⚠ Risk flags
- High Debt/Equity (2.23)
- Raw material and consumable cost inflation
- Logistics disruptions affecting export deliveries
- High finance costs (₹7.18 Cr in Q1)
Key Highlights
Net loss of ₹10.11 Cr in Q1 FY27 compared to a profit of ₹3.37 Cr in Q1 FY26.
PBDIT margin compressed to 7.0% from 15.4% YoY, driven by a 500 bps impact from RM and consumable inflation.
Order book grew by approximately 33%, providing revenue visibility for the remainder of FY27.
Finance costs increased to ₹7.18 Cr from ₹4.65 Cr YoY, reflecting the company's high debt burden.
Management expects a 300+ bps margin improvement in FY27 through price revisions and a new 5 MW wind PPA.
👀 What to Watch
Watch for the Q2 FY27 results to verify if the promised price revisions and 5 MW wind PPA effectively restore PBDIT margins above 10%.
SGIL Reports Q1 FY27 Net Loss of ₹10.11 Cr as Revenue Declines 37% QoQ
Synergy Green Industries (SGIL) reported a weak Q1 FY27, swinging to a net loss of ₹10.11 Cr from a profit of ₹3.38 Cr in the same quarter last year. Revenue from operations fell 10% YoY to ₹75.15 Cr and dropped 36.8% sequentially from ₹119.04 Cr in Q4 FY26. The bottom line was severely impacted by a 161% YoY surge in depreciation to ₹8.81 Cr and a 54% rise in finance costs to ₹7.18 Cr, likely reflecting the impact of recent capacity expansions. Total expenses of ₹86.40 Cr exceeded total income, leading to a negative EPS of ₹6.51 for the quarter.
Confidence: HIGH
What changedSGIL has moved from a profitable state to a significant quarterly loss, driven by a combination of lower revenue and sharply higher interest and depreciation charges.
Why it mattersThe results highlight the execution risk during a high-capex phase; the company is currently unable to generate enough revenue to cover the increased fixed costs associated with its expansion.
Revenue (Q1 FY27): ₹75.15 CrNet Loss (Q1 FY27): ₹10.11 CrYoY Revenue Growth: -10.06%Finance Cost Increase (YoY): 54.4%Depreciation Increase (YoY): 161.1%Loss vs TTM PAT: ~337%
📅 Short termThe stock is likely to face downward pressure in the short term due to the substantial earnings miss and the transition to a net loss.
📈 Long termLong-term recovery depends on the company's ability to scale revenue to its 45,000-ton capacity and achieve the targeted 18%+ margins through high-value machined components.
⚠ Risk flags
- High Debt-to-Equity ratio (2.23)
- Significant increase in fixed overheads (Interest and Depreciation)
- Negative operating leverage in the current quarter
Key Highlights
Revenue from operations stood at ₹75.15 Cr, a 10.06% decline compared to ₹83.56 Cr in Q1 FY26.
Net loss for the quarter reached ₹10.11 Cr, compared to a profit of ₹3.38 Cr in the year-ago period.
Finance costs increased significantly to ₹7.18 Cr from ₹4.65 Cr in Q1 FY26.
Depreciation and amortization expenses rose to ₹8.81 Cr from ₹3.37 Cr YoY, indicating new asset commissioning.
Basic and Diluted EPS turned negative at ₹(6.51) for the quarter ended June 30, 2026.
👀 What to Watch
Investors should monitor the utilization levels of the expanded 45,000-ton capacity and the timeline for onboarding new OEMs like Envision and Nordex to offset high fixed costs. The high debt-to-equity ratio of 2.23 makes interest cost management critical for a return to profitability.
SGIL AGM: Borrowing Limit Increased to ₹250 Cr; Preference Dividend of ₹1.07 Cr Approved
Synergy Green Industries Limited (SGIL) concluded its 16th AGM on July 23, 2026, where shareholders approved increasing the company's borrowing limit from ₹200 Cr to ₹250 Cr. This ₹50 Cr increase provides financial headroom for the company's ongoing capacity expansion toward 45,000 tons. A dividend of ₹10 per share on 10% Cumulative Redeemable Preference Shares was declared, totaling ₹1.07 Cr. Additionally, M/s P. G. Bhagwat LLP was appointed as the new statutory auditor for a five-year term ending in 2031.
Confidence: HIGH
What changedThe company has officially increased its debt ceiling and transitioned to a new statutory auditing firm following the 16th AGM.
Why it mattersThe increased borrowing limit is essential for financing capital-intensive growth in wind energy castings, though it highlights the company's reliance on debt given its current ₹250 Cr debt vs ₹112 Cr net worth.
New Borrowing Limit: ₹250 CrPreference Dividend Total: ₹1.07 CrBorrowing Limit vs Net Worth: 223%Cost Audit Fees: ₹2.50 LakhAuditor Appointment Term: 5 Years
📅 Short termThe market is likely to view the AGM proceedings as routine; final voting results are expected by July 25, 2026.
📈 Long termThe expanded borrowing capacity supports the structural goal of reaching 45,000 tons capacity to service global OEMs, but interest costs will remain a key monitorable for PAT margins.
⚠ Risk flags
- High leverage (D/E 2.23)
- Increased borrowing limit may lead to higher interest burden
- Auditor rotation
Key Highlights
Shareholders approved increasing borrowing limits under Section 180(1)(c) from ₹200 Cr to ₹250 Cr.
Declared a 10% dividend on Redeemable Cumulative Preference shares amounting to ₹1,07,10,000.
Appointed M/s P. G. Bhagwat LLP as Statutory Auditors for a 5-year term until the 2031 AGM.
Approved the continuation of Independent Director Mr. Subhash G. Kutte beyond the age of 75.
Ratified Cost Auditor remuneration of ₹2,50,000 for the financial year 2026-27.
👀 What to Watch
Monitor the utilization of the additional ₹50 Cr borrowing headroom against the progress of the 45,000-ton capacity expansion and its impact on the already high Debt-to-Equity ratio of 2.23.
Synergy Green Targets ₹500 Cr Revenue in FY27 Following Capacity Expansion to 45,000 MTPA
Synergy Green Industries Limited (SGIL) reported a total income of ₹376 crores for FY26 with a PBDIT margin of 13.1%. The company successfully completed a brownfield expansion, increasing foundry capacity from 30,000 to 45,000 MTPA and adding a 20,000 MTPA machining facility. For FY27, management has provided a robust guidance of ₹500+ crores in revenue, representing 33% growth, alongside an expected margin expansion of over 300 basis points. The growth is underpinned by a strong order book and entry into the 5MW turbine component segment.
Key Highlights
FY26 total income stood at ₹376 crores with a PBDIT of ₹48.67 crores (13.1% margin).
Foundry capacity expanded by 50% to 45,000 MTPA, allowing for single-piece castings up to 30 metric tons.
Management projects FY27 revenue to exceed ₹500 crores with a 300+ bps improvement in margins.
Added 10MW solar captive capacity and new high-profile customers including Mahindra, L&T, and Nordex.
Export revenues are projected to remain stable at 25-30% of the total revenue mix.
👀 What to Watch
Investors should watch for the successful ramp-up of the expanded capacity and the company's ability to manage input cost inflation through price pass-throughs. The stock remains a key play in the wind energy supply chain with significant operating leverage potential in FY27.
Synergy Green FY26 PAT Drops 72% to ₹4.66 Cr; No Equity Dividend Declared
Synergy Green Industries reported a marginal revenue growth for FY26, reaching ₹366.42 crore, but faced a sharp 72.4% decline in net profit to ₹4.66 crore compared to ₹16.89 crore in FY25. Profitability was significantly impacted by a 32% rise in finance costs and a 56% increase in depreciation, reflecting heavy capital expenditure. Due to the earnings pressure, the Board skipped the equity dividend for the year, although a 10% preference dividend was declared. Additionally, the company appointed M/s P. G. Bhagwat LLP as the new statutory auditor for a five-year term.
Key Highlights
FY26 Net Profit plummeted 72.4% YoY to ₹4.66 crore from ₹16.89 crore.
Annual Revenue from operations remained nearly flat at ₹366.42 crore vs ₹362.27 crore in FY25.
Finance costs surged to ₹20.79 crore from ₹15.69 crore, while depreciation rose to ₹20.33 crore.
Long-term borrowings more than doubled to ₹148 crore from ₹55.35 crore YoY.
The Board did not recommend any equity dividend for FY26, down from ₹1 per share in FY25.
👀 What to Watch
Investors should exercise caution as the sharp decline in profitability and rising debt levels indicate high execution risk following recent expansions. Monitor whether the increased capacity translates into significant revenue growth in FY27 to offset elevated interest and depreciation costs.
SGIL Q4 FY26: Revenue Rises to ₹123 Cr; Capacity Expands to 45,000 TPA Amid Margin Pressure
Synergy Green Industries Limited (SGIL) reported a total income of ₹376.37 crore for FY26, up from ₹363.68 crore in FY25, with Q4 FY26 revenue showing a strong jump to ₹123.45 crore. However, full-year Profit After Tax (PAT) declined significantly to ₹4.40 crore from ₹16.89 crore in the previous year, primarily due to operational disruptions during brownfield expansion and higher outsourcing costs. The company successfully completed its capacity expansion to 45,000 TPA and increased its machining capacity to 20,000 TPA. Management remains optimistic about future growth driven by a strong order book and the ability to produce larger 5 MW wind components.
Key Highlights
Q4 FY26 revenue grew 26% YoY to ₹123.45 crore, though full-year PAT fell 74% to ₹4.40 crore.
Foundry capacity expanded from 30,000 TPA to 45,000 TPA, with max casting weight increased to 30 MT.
In-house machining and coating capacity established at 20,000 TPA to reduce future outsourcing costs.
Captive solar power capacity enhanced from 2 MW to 10 MW to improve long-term energy cost efficiency.
Finance costs increased to ₹20.79 crore in FY26 compared to ₹15.69 crore in FY25 due to expansion funding.
👀 What to Watch
Investors should watch for margin recovery in the coming quarters as the expanded capacity ramps up and in-house machining reduces operational costs. While the profit dip is concerning, the successful capacity expansion and strong wind sector tailwinds provide a positive long-term outlook.
SGIL FY26 Revenue at ₹376.4 Cr; Targets ₹500 Cr+ in FY27 Following 50% Capacity Expansion
Synergy Green Industries reported a marginal 3.34% revenue growth to ₹376.4 Crores for FY26, while PAT dropped significantly to ₹4.66 Crores from ₹16.89 Crores due to expansion-related disruptions and higher costs. The company successfully increased foundry capacity from 30,000 to 45,000 TPA and commissioned a new 20,000 TPA machining facility. Management has issued aggressive guidance for FY27, projecting 33% revenue growth and over 300 bps margin expansion. The transition to larger 5 MW turbine components and increased solar power capacity to 10 MW are expected to be key drivers for future profitability.
Key Highlights
FY26 Total Income rose 3.34% to ₹376.4 Cr, but PBDIT margins contracted by 170 bps to 13.1%.
Completed brownfield expansion increasing foundry capacity by 50% to 45,000 TPA.
Enhanced capability to produce 30 MT single pieces, catering to the growing 5 MW wind turbine market.
Management projects FY27 revenue to exceed ₹500 Cr with a 33% growth rate backed by a strong order book.
Captive solar power capacity increased from 2 MW to 10 MW to mitigate energy cost inflation.
👀 What to Watch
Investors should monitor the utilization levels of the newly expanded capacity in H1 FY27 to validate the management's aggressive growth guidance. While FY26 earnings were weak due to transition costs, the focus on 5 MW turbine components and in-house machining provides a long-term margin expansion narrative.
SGIL Reports FY26 Results: Net Profit Drops 72.4% to ₹4.66 Crore, No Equity Dividend
Synergy Green Industries Limited (SGIL) reported a marginal 1.1% increase in total income to ₹376.37 crore for the financial year ended March 31, 2026, compared to ₹363.68 crore in FY25. However, net profit for the year dropped significantly by 72.4% to ₹4.66 crore from ₹16.89 crore in the previous year, primarily due to higher finance costs and depreciation expenses. Reflecting the drop in profitability, the Board of Directors did not recommend any dividend for equity shareholders for FY26, down from ₹1 per share in FY25. The company did declare a 10% dividend on preference shares.
Key Highlights
Total income for FY26 grew slightly by 1.14% to ₹37,637.36 lakhs from ₹36,368.30 lakhs in FY25.
Net profit for FY26 declined sharply by 72.4% to ₹465.83 lakhs compared to ₹1,688.82 lakhs in FY25.
Finance costs increased by 32.5% to ₹2,078.61 lakhs, and depreciation expenses surged by 56.1% to ₹2,032.87 lakhs in FY26.
No equity dividend was recommended for FY26, compared to a dividend of ₹1 per equity share in the previous year.
Exceptional item of ₹65.42 lakhs was recorded due to the statutory impact of new Labour Codes.
👀 What to Watch
Investors should view these results with caution as profitability has been severely impacted by rising operational and financial leverage costs. It is advisable to monitor the company's capacity utilization and debt management strategies before making new commitments.
Synergy Green Industries FY26 PAT Drops 72% to ₹4.66 Cr; No Equity Dividend Recommended
Synergy Green Industries reported a significant 72.4% decline in annual net profit to ₹465.83 Lakhs for FY26, despite a marginal 1.1% increase in revenue from operations to ₹36,641.94 Lakhs. The bottom line was pressured by a sharp rise in finance costs (up 32%) and depreciation (up 56%), likely due to significant capital expenditure as Property, Plant and Equipment increased from ₹9,101 Lakhs to ₹24,008 Lakhs. Consequently, the Board skipped the equity dividend for the year, compared to ₹1 per share in the previous year. The company also recognized an exceptional loss of ₹65.42 Lakhs related to new labour codes.
Key Highlights
Net Profit for FY26 plummeted to ₹465.83 Lakhs from ₹1,688.82 Lakhs in FY25.
Revenue from operations remained nearly flat at ₹366.42 Crore compared to ₹362.27 Crore in the previous year.
Finance costs rose to ₹20.79 Crore, while depreciation surged to ₹20.33 Crore following heavy asset expansion.
Long-term borrowings more than doubled to ₹148 Crore to fund capital projects.
The Board did not recommend any dividend for equity shareholders for FY26.
👀 What to Watch
Investors should exercise caution as the sharp drop in profitability and increased debt levels signal short-term stress. Monitor if the massive capacity expansion (PPE up 163%) translates into higher revenue in FY27 to offset the increased interest and depreciation costs.
Synergy Green Shareholders Approve CMD Reappointment and New Independent Directors
Synergy Green Industries Limited (SGIL) has successfully passed five key resolutions via postal ballot with overwhelming shareholder support. The resolutions include the reappointment of Mr. Sachin R. Shirgaokar as Chairman & Managing Director for a three-year term starting April 2026, along with a revised remuneration package. Shareholders also approved the appointment of two new Independent Directors and the transition of Mr. Sohan S. Shirgaokar to a Non-Executive Director role. Most resolutions were passed with nearly 100% of the votes in favor, indicating strong investor confidence in the current leadership.
Key Highlights
Reappointment of Sachin R. Shirgaokar as CMD for 3 years effective April 1, 2026, approved with 99.9996% votes.
Appointment of Deepak Dhadoti and Meghana Mulye as Independent Directors with 100% shareholder support.
Reappointment of Vendavagali Srinivasa Reddy as Whole-time Director for 3 years with revised remuneration.
Change in designation for Sohan S. Shirgaokar from Joint Managing Director to Non-Executive Director approved unanimously.
Total of 1,02,90,387 votes cast in favor for most resolutions, representing significant shareholder participation.
👀 What to Watch
Investors should note the continuity in top management and the strengthening of the board with new independent directors. No immediate action is required as these results reflect standard corporate governance and leadership stability.
SGIL Proposes CMD Reappointment with ₹6.90 Lakh Monthly Salary and New Independent Directors
Synergy Green Industries Limited (SGIL) has issued a postal ballot notice to seek shareholder approval for the reappointment of Mr. Sachin R. Shirgaokar as Chairman & Managing Director for a three-year term starting April 1, 2026. The proposed remuneration package for the CMD includes a monthly basic salary of ₹6.90 lakh and a commission of up to 4% of net profits. Furthermore, the company is seeking to appoint Mr. Deepak Vidyadhar Dhadoti and Mrs. Meghana Ashok Mulye as Independent Directors for five-year terms. Shareholders can participate in the decision through an e-voting process open from February 20 to March 21, 2026.
Key Highlights
Reappointment of Mr. Sachin R. Shirgaokar as CMD for a 3-year term effective April 1, 2026.
Proposed CMD remuneration includes ₹6.90 lakh monthly basic salary plus commission up to 4% of net profits.
Appointment of two new Independent Directors for 5-year terms ending March 31, 2031.
E-voting period scheduled from February 20, 2026, to March 21, 2026, with results by March 23, 2026.
CMD perquisites include 40% HRA, 30% LTA, and 27% contribution to PF and Superannuation funds.
👀 What to Watch
Investors should evaluate the proposed executive compensation against the company's recent financial performance and ensure they participate in the e-voting process. Leadership continuity is generally a positive sign for operational stability.
SGIL Q3 FY26: Revenue Growth Guidance Slashed to 5% Amid Operational Disruptions
Synergy Green Industries (SGIL) reported a 4.8% YoY decline in 9M FY26 revenue to ₹252.92 crores, prompting a sharp cut in full-year growth guidance from 20% to 5%. The company cited operational disruptions from shifting equipment to its new unit and a ₹30 crore order delay from Envision as primary reasons for the muted performance. PBDIT margins for the 9-month period contracted to 13.63% due to higher outsourcing and finance costs. Despite short-term hurdles, the company is nearing completion of its capacity expansion to 45,000 MT and has operationalized a 10 MW solar plant.
Key Highlights
9M FY26 revenue stood at ₹252.92 crores, a 4.8% YoY decline, with full-year revenue target revised to ₹380 crores.
Q3 PBDIT fell 34% YoY to ₹9.62 crores, impacted by relocation costs and lower export realizations.
Capacity expansion from 30,000 MT to 45,000 MT is in the final commissioning stage, expected to complete in the current quarter.
A major ₹30 crore order from Envision has been postponed to Q1 FY27 following commercial and warranty-related clarifications.
Phase 1 of the in-house machining facility is operational, with Phase 2 expected to be commissioned by Q1 FY27.
👀 What to Watch
The downward revision in guidance and margin pressure are negative short-term signals, though the nearing completion of the 45,000 MT expansion offers long-term scale potential. Investors should watch for the stabilization of margins once the new unit is fully integrated and the Envision order commences in FY27.
SGIL Q3 FY26: Revenue Down 4.8%, Full-Year Growth Guidance Slashed to 5%
Synergy Green Industries (SGIL) reported a 4.8% YoY decline in Q3 FY26 total income, with PBDIT falling sharply by 34% to ₹9.62 crores. The company significantly lowered its full-year revenue growth guidance to 5% (₹380 crores) from an earlier 20% projection, citing expansion-related disruptions and delayed product ramp-ups. Profitability was weighed down by higher outsourcing costs during plant relocation and increased finance charges from ongoing Capex. Despite short-term hurdles, SGIL is nearing completion of its capacity expansion to 45,000 MT and has secured new approvals from BHEL and L&T.
Key Highlights
Q3 FY26 total income decreased by 4.8% YoY, while PBDIT dropped 34% to ₹9.62 crores with margins at 10.32%.
Full-year revenue guidance revised downwards to ₹380 crores (5% growth) from previous 20% estimates due to execution delays.
Foundry capacity expansion from 30,000 MT to 45,000 MT is in final stages; Phase 2 machining expected in Q1 FY27.
A ₹30 crore serial supply order from Envision has been postponed to FY27 due to commercial and warranty discussions.
9-month PBDIT margins contracted to 13.63% from 14.44% due to relocation costs, higher depreciation, and interest.
👀 What to Watch
Investors should monitor the successful commissioning of the 45,000 MT expansion and the commencement of the Envision serial supply in FY27. While the margin pressure appears transitory due to Capex, the significant guidance cut suggests near-term execution risks.
Synergy Green Q3 FY26: Net Loss of ₹1.49 Cr as Expansion Costs and Relocation Weigh on Margins
Synergy Green Industries reported a weak Q3 FY26 performance, swinging to a net loss of ₹1.49 crore from a profit of ₹5.95 crore in the same quarter last year. Total income declined 4.8% YoY to ₹93.16 crore, while EBITDA margins contracted significantly by 466 bps to 10.32%. The profitability was hit by higher outsourcing costs during equipment relocation, increased finance costs from expansion, and a statutory provision for the new labor code. Despite short-term pain, the company is operating at 89% capacity utilization and is expanding its foundry capacity to 45,000 TPA.
Key Highlights
Net loss of ₹1.49 crore in Q3 FY26 vs a profit of ₹5.95 crore in Q3 FY25.
EBITDA margin dropped to 10.32% from 14.98% YoY due to relocation and establishment overheads.
Long-term borrowings increased to ₹143.24 crore to fund capacity expansion from 30,000 to 45,000 TPA.
Capacity utilization remains high at 89%, with 50% of the world's top 10 wind OEMs as clients.
Finance costs rose to ₹4.74 crore in Q3 FY26 compared to ₹4.04 crore in the previous year.
👀 What to Watch
Investors should exercise caution in the short term as the company navigates high expansion-related costs and margin pressure. The long-term recovery depends on the successful stabilization of the new 45,000 TPA capacity and the operationalization of in-house machining to reduce outsourcing costs.
SGIL 9M FY26 Revenue Down 4.8% to ₹252.92 Cr; PAT Declines Sharply Amid Expansion
Synergy Green Industries reported a 4.8% YoY decline in 9M FY26 revenue to ₹252.92 crore, primarily due to delayed product ramp-ups in the wind segment and expansion-related disruptions. Profitability was significantly impacted, with PAT falling to ₹4.25 crore from ₹13.05 crore YoY, and the company reporting a net loss of ₹1.49 crore in Q3 FY26. Management attributes the margin pressure to higher finance costs, increased depreciation, and one-time provisions for the new labor code. Despite short-term pain, the foundry expansion to 45,000 TPA is on track for March 2026 completion.
Key Highlights
9M FY26 Total Income fell 4.8% YoY to ₹252.92 Cr, while PBDIT margins contracted to 13.63% from 14.44%.
Q3 FY26 recorded a Net Loss of ₹1.49 Cr compared to a Profit of ₹5.95 Cr in the same quarter last year.
Finance costs rose to ₹14.10 Cr and Depreciation increased to ₹12.50 Cr due to ongoing capital expenditure.
Foundry capacity expansion from 30,000 TPA to 45,000 TPA is targeted for completion by March 2026.
Management projects a modest 5% revenue growth for the full FY 2025-26 with PBDIT margins around 14%.
👀 What to Watch
Investors should exercise caution as the company faces significant margin pressure and high interest costs during its heavy CAPEX phase. The key monitorable is the successful commissioning and ramp-up of the 45,000 TPA foundry expansion in March 2026 to drive future growth.
Synergy Green Industries Q3 FY26: Revenue Dips to ₹91.8 Cr, Swings to Net Loss of ₹1.49 Cr
Synergy Green Industries Limited (SGIL) reported a disappointing set of numbers for Q3 FY26, with revenue from operations declining to ₹9,182.13 lakhs from ₹9,712.01 lakhs in the year-ago period. The company recorded a net loss of ₹148.88 lakhs for the quarter, a sharp reversal from the ₹594.52 lakhs profit reported in Q3 FY25. Profitability was severely impacted by rising finance costs of ₹474.71 lakhs and depreciation of ₹546.08 lakhs, alongside an exceptional charge of ₹64.18 lakhs for new Labour Code compliance. For the nine-month period ending December 2025, net profit has fallen by approximately 67% year-on-year to ₹424.91 lakhs.
Key Highlights
Revenue from operations decreased by 5.4% YoY to ₹9,182.13 lakhs in Q3 FY26.
Reported a net loss of ₹148.88 lakhs compared to a profit of ₹594.52 lakhs in Q3 FY25.
Finance costs and depreciation expenses rose significantly to ₹474.71 lakhs and ₹546.08 lakhs respectively.
Exceptional item of ₹64.18 lakhs recognized due to the statutory impact of new Labour Codes.
9M FY26 net profit plummeted to ₹424.91 lakhs from ₹1,305.31 lakhs in the previous year.
👀 What to Watch
Investors should exercise caution as the company has transitioned to a loss-making quarter despite relatively stable revenue, indicating significant margin pressure and rising overheads. Close monitoring of the company's ability to manage its debt and operational costs is advised before making new commitments.
