Syrma SGS Technology said that it has entered into a collaboration agreement with MSI for becoming its manufacturing partner in India to produce laptops for the Indian market.
Through this strategic collaboration, Syrma SGS will assemble laptops for MSI at its Chennai facility.
MSI and Syrma SGS are setting the stage for a phased approach to localize manufacturing for MSI in India through this alliance, starting with the assembly of laptops.
This long-term collaboration between the two will cater to the Indian market, bringing premium MSI laptops closer to consumers.
Satendra Singh, CEO, Syrma SGS Technology, said: Being MSIs Indian manufacturing partner, this collaboration is a testament to our commitment to the Make in India initiative.
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It not only bolsters our IT hardware manufacturing portfolio but also underscores our ability to deliver highquality, innovative solutions that meet the needs of global leaders like MSI.
Syrma SGS Technology is a technology-focused engineering and design company specializing in precision manufacturing for diverse end-use industries. It is engaged in the business of manufacturing various electronic sub-assemblies, assemblies and box builds, disk drives, memory modules, power supplies / adapters, fiber optic assemblies, magnetic induction coils and RFID products and other electronic products.
On a consolidated basis, Syrma SGS Technology's net profit rose 27.83% to Rs 36.24 crore on 17% increase in net sales to Rs 832.74 crore in Q2 September 2024 over Q2 September 2023. Export revenue was 23% of revenue from operations.
The scrip fell 3.93% to currently trade a Rs 571.35 on the BSE.
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