Syrma SGS to Acquire Majority Stake in Elcome Integrated Systems, To Enter Defence and Maritime Business

Syrma SGS Technology Limited has announced the acquisition of Elcome Integrated Systems Private Limited and Navicom Technology International Private Limited. This follows board approval and aims to add new segments under the company’s existing electronics manufacturing business.

For Elcome Integrated Systems, Syrma SGS will buy a 60% stake in the next 3 years for about ₹235 crore. 

Purpose and Scope

The acquisitions will extend Syrma SGS’s operations into defence and maritime technology manufacturing. Elcome’s existing infrastructure and field service network are to become part of Syrma SGS’s business base after the transaction. Both companies have experience in producing and supporting high-reliability electronic systems for institutional clients.

Company Backgrounds

Elcome Integrated Systems, founded in August 1978 and headquartered in Navi Mumbai, works in defence and maritime electronics. The company reported a turnover of ₹155 crore in FY 2024–25. It provides systems for navigation, communication, and surveillance used by defence and maritime organisations across India.

Navicom Technology International, established in March 2002, focuses on technology for maritime applications. The company reported a turnover of ₹52 crore in FY 2024-25. It operates as a technical partner to Elcome in various system integration projects.

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Syrma SGS Technology Limited Profile

Syrma SGS Technology Limited provides electronic system design and manufacturing services. It operates 14 facilities across India and Germany, catering to industries such as industrial, automotive, healthcare, and consumer electronics. 

Syrma SGS Technology Share Price Performance 

As of November 11, 2025, 10:27 am, Syrma SGS Technology share price was trading at ₹845.60, a 4.65% increase from the previous closing price.

Conclusion

With these transactions, Syrma SGS will add new business areas and expand its manufacturing footprint in defence and maritime technology. The process will be completed in phases following regulatory procedures.

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