Syrma SGS and Kaga Electronics India formed a 60:40 joint venture to manufacture bare printed circuit boards 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 two companies had signed a memorandum of agreement back on 22 June, and this incorporation turns that preliminary agreement into a formally registered company.

Syrma SGS holds a 60% stake in the new entity, while Kaga Electronics India, the local arm of Japan’s Kaga Electronics, holds the remaining 40%.

For readers unfamiliar with the term, a bare printed circuit board is essentially the base layer that every electronic device is built on, before any components are soldered onto it.

Making these in-house, rather than sourcing them externally, is a step up the manufacturing chain for Syrma SGS.

As part of the initial paperwork, Syrma SGS subscribed to 6,000 equity shares of Rs 10 face value in the new company, a cash outlay of Rs 60,000.

Under the broader joint venture terms, the company plans to invest around Rs 15 crore in total, with Kaga contributing about Rs 10 crore over time. The new unit will be based out of a facility in Haryana.

It is expected to produce bare PCBs, electronic components and interface cards, with a focus on serving global clients and companies from Japan, where Kaga has existing relationships.

This move comes on the back of a strong quarter for Syrma SGS. Net profit for the three months ended June 2026 rose 101.19% to Rs 100.07 crore, up from Rs 49.74 crore in the same period last year, according to the company’s exchange filings.

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