Elcome’s acquisition of Navicom will be completed on the date of completion of the first tranche, and post-acquisition, Navicom will become a wholly-owned subsidiary of Elcome | Photo Credit: AndreyPopov
Syrma will acquire Elcome in four tranches with the first tranche involving a 60 per cent stake purchase for an aggregate consideration of around ₹235 crore. Price of subsequent tranches will be determined based on agreed performance milestones.
The Board has also approved for Elcome to, in turn, acquire the entire paid-up share capital of Mumbai-based Navicom Technology International. Elcome’s acquisition of Navicom will be completed on the date of completion of the first tranche, and post-acquisition, Navicom will become a wholly-owned subsidiary of Elcome.
Both companies are engaged in manufacturing defence and maritime equipment. While Elcome reported a revenue of ₹155 crore for FY25, Navicom Technology reported revenue of ₹52 crore in the said fiscal year.
Q2 results
Syrma SGS, on Monday, also reported a 78 per cent year-on-year growth in consolidated net profit to ₹64 crore for the quarter ended September 2025 (Q2FY26). Net profit for the same quarter last year stood at ₹36 crore. Consolidated revenue from operations was at ₹1,145 crore (₹832 crore) , a 38 per cent rise.
The company for the half year ended September reported a consolidated total revenue of ₹2,090 crore ( ₹1,993 crore), primarily driven by Auto, IT and Industrials segments.
EMS industry continues to witness strong traction, due to tailwinds across industries, the company said in a statement.
During the quarter, Syrma SGS entered into a joint venture agreement with Shinhyup Electronics, South Korea for manufacturing multi-layer printed circuit boards, automobile electronic equipment, home electronic appliances, etc.
Published on November 10, 2025
