Syrma SGS Expands into Residential Solar Market with ₹170 Crore Acquisition of KSolare

Hyderabad, October 23, 2025 – Syrma SGS Technology Limited (NSE: SYRMA, BSE: 543573) made a strategic foray in the surging residential inverter segment with a joint acquisition of KSolare Energy Private Limited from Premier Energies Limited. Both companies will acquire KSolare in a 51:49 ownership ratio for a price of ₹170 crore.

Acquisition Details

Syrma SGS Technology Limited made a strategic acquisition of KSolare Energy Private Limited, along with Premier Energies, with Premier Energies owning a 51% interest and Syrma SGS owning a 49% interest. It has a value of ₹170 crore as it operates in the segment of residential solar inverters.

KSolare Energy manufactures at a Pune, Maharashtra, facility, with production of 5 lakh inverters annually at present. On acquisition and expansion, capacities will increase to 10 lakh inverters a year. It reported revenue of ₹342 crore in FY25.

This acquisition propels Syrma SGS Technology’s footprint in Indian renewable manufacturing by combining its electronic system design and manufacturing strengths with Premier Energies’ large solar distribution channel, creating a joint entity for rapid expansion in residential solar.

Strategic Intent and Expansion Plans

The new facility will reach a production capacity of 1 million inverters per year, with a brownfield plant in Pune. It will have access to PM Surya Ghar Muft Bijli Yojana, which is India’s flagship rooftop solar adoption program. The chairman and managing director at KSolare, Sunil Sinnarkar, will become an executive director at the merged entity to continue its operations and enable expansion.

Chiranjeev Saluja, MD and CEO, Premier Energies, added that it bolsters India’s home-grown manufacturing capacities for clean energy products. “In addition to Syrma SGS, high-quality local inverters will cover every rooftop at a cost that will be provided under the PM Surya Ghar scheme,” he added further.

The partnership, as explained by Jasbir Gujral, Syrma SGS Managing Director, comes as a result of its drive for innovation and sustainable production. We will integrate our global manufacturing capabilities with Premier’s solar leadership to provide next-generation inverter platforms for India’s residential market,” he added further.

Share Price Update

Shares of Syrma SGS Technology Ltd closed at ₹765.25, down by 3.82% on 23rd October, 2025. Syrma SGS Technology Ltd.’s share price opened at ₹800.05, with an intra-day high of ₹804.55 and a low of ₹765.00. Its market value still stands at ₹13,700 crore, with a price-to-earnings (P/E) multiple of 68.16.

The stock has a dividend of 0.20%, with a quarterly dividend of ₹0.38 per share. Stocks over the past 52 weeks traded between a high of ₹370.00 and a low of ₹875.00, indicating significant volatility and investor demand.

Overview of the Two Companies

Syrma SGS Technology Limited, a major Electronics System Design and Manufacturing (ESDM) player, with more than two decades of service to numerous industries such as industrial, automotive, healthcare, and consumer electronic industries, has 14 state-of-the-art manufacturing units spread across India as well as Germany, and has announced FY25 consolidated revenue of around ₹3,800 crore. The firm recently entered the PCB production business in Andhra Pradesh, in a joint venture with South Korea’s Shinhyup Electronics.

Premier Energies is a 30-year-old solar cell and module manufacturing company. It has a revenue of ₹6,652 crore for FY25 and is increasing its capacity to 10 GW over the solar value chain. It has also ventured into battery storage as a business and has been certified as a Great Place to Work for four consecutive years.

REF: https://nsearchives.nseindia.com/corporate/SYRMASGS_23102025164926_STXintimationforPR23102025.pdf

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