The joint venture plans to invest around Rs 15 crore in the project, with Kaga Electronics expected to contribute approximately Rs 10 crore over time
Syrma SGS Technology Limited and Kaga Electronics India have formed a 60:40 joint venture to manufacture bare printed circuit boards (PCBs), electronic components, and interface cards in Haryana.
The Ministry of Corporate Affairs issued the Certificate of Incorporation for the new entity, Syrma Kaga Electronics Private Limited, on 18 August 2026. The incorporation follows a memorandum of agreement signed between the two companies on 22 June 2026, formally establishing the proposed joint venture.
Syrma SGS holds a 60% stake in the new company, while Kaga Electronics India, the Indian arm of Japan-based Kaga Electronics, owns the remaining 40%.
The joint venture plans to invest around Rs 15 crore in the project, with Kaga Electronics expected to contribute approximately Rs 10 crore over time. The manufacturing facility will be located in Haryana and is expected to cater to global customers, including Japanese companies leveraging Kaga Electronics’ existing business relationships.
Bare PCBs form the foundational layer of electronic devices onto which components are subsequently mounted. By manufacturing bare PCBs in-house, Syrma SGS is expanding further into the electronics manufacturing value chain and reducing its dependence on external suppliers.
As part of the initial incorporation, Syrma SGS subscribed to 6,000 equity shares with a face value of Rs 10 each, amounting to an initial investment of Rs 60,000.
The joint venture comes as Syrma SGS continues to report strong financial performance. Its net profit for the quarter ended June 2026 increased 101.19% year-on-year to Rs 100.07 crore, compared with Rs 49.74 crore in the corresponding quarter of the previous year.
