Synergy Green Industries Ltd (SGIL) was incorporated on October 08, 2010, as a private limited company and later converted to a public limited company on February 16, 2018. It is a part of the Shirgaokar Brothers Group, which holds a 38% shareholding in SGIL. The group's business activities span sugar, foundry products, and heavy engineering. SGIL's operations are strategically located in Kolhapur, Maharashtra, where it operates state-of-the-art manufacturing facilities dedicated to precision casting solutions.
The company is primarily engaged in the foundry business, manufacturing wind turbine castings and other large precision castings. Its product range also includes graded gray iron, spheroidal graphite iron, and steel castings, available in both raw and machined conditions. Synergy Green Industries operates across three core segments: Wind Turbine, Wind Gear Box, and General Engineering (Non-Wind Segment), which caters to industries such as mining equipment, pump and valve, plastic injection machines, traction motors, and small castings.
Synergy Green Industries focuses on manufacturing iron castings for wind turbines, establishing itself as a vital supplier to the global renewable energy sector. Its extensive product portfolio includes critical components like Main Axle, Hollow Shaft, DV-Casing, Diffuser, Cone Head, Eccentric23, UpperFrame, Pump Casing, Rear Wheel, MainFrame, Valve Body, Wedge, Wall Body, Main bearing Housing, Cannon Tube, Hub, Gear Box Housing, Main Foundation, Front Wheel, and Base Frame.
The company serves prominent global wind turbine manufacturers, including Vestas (Denmark), Gamesa, GE Renewable, and Enercon (Germany). Additionally, it supplies components to wind gear box customers such as ZF and Siemens. This diverse and international customer base underscores SGIL's strong market position and advanced technical capabilities within the wind energy ecosystem.
Synergy Green has developed one of the largest automated fast loop moulding line facilities for large castings. The company boasts state-of-the-art IT infrastructure, including advanced technology like MAGMA flow and thermal simulation software. Its manufacturing process is supported by a well-established pattern supply chain with CNC routing, three continuous sand mixers, mould compaction tables, transfer cars, and fast loop moulding line simulation. An in-house laboratory ensures stringent quality control, aiming for total customer satisfaction and enhanced stakeholder value.
A significant expansion occurred in June 2023 with the commissioning of a 15 MT New Melting Furnace, which substantially increased the company's production capacity and manufacturing flexibility. SGIL commenced operations as a greenfield foundry project in 2011 and began commercial production in June 2012.
For the full financial year ended March 2025 (FY25), Synergy Green Industries reported a net profit of ₹16.89 crore, marking a significant 46.11% increase from ₹11.56 crore in the previous year (FY24). Sales revenue also demonstrated healthy growth, rising by 11.02% to ₹362.27 crore in FY25 compared to ₹326.31 crore in FY24.
In the fourth quarter of FY25 (Q4 FY25), the company achieved a net profit of ₹3.84 crore, an 18.15% increase from ₹3.25 crore in Q4 FY24. Sales for the quarter increased by 18.42% to ₹97.47 crore, up from ₹82.31 crore in the corresponding period of the previous year.
• Net Profit FY25: ₹16.89 crore (up 46.11% YoY)
• Revenue FY25: ₹362.27 crore (up 11.02% YoY)
• Net Profit Q4 FY25: ₹3.84 crore (up 18.15% YoY)
• Sales Q4 FY25: ₹97.47 crore (up 18.42% YoY)
• Market Capitalization: ₹857 crore (as of June 2025)
• Book Value: ₹69.3 per share
• PE Ratio: 50.18
• ROE: 21.9%
• ROCE: 20.8%
• Promoter Holding: 69.81% (as of March 2025)
In a notable strategic development, Synergy Green Industries secured a significant development order from Adani Wind, the renewable energy division of Adani New Industries Ltd., for 3.3 MW wind turbine parts. This partnership is anticipated to double the company's FY26 order book to ₹40 crore, representing a robust 100% year-on-year growth.
Reflecting improved financial stability and growth prospects, CRISIL upgraded the company's long-term rating to BBB/Stable in May 2025. Concurrently, the company's bank facilities were increased to ₹192.72 crore, further strengthening its financial position for future expansion.
Synergy Green Industries maintains a market capitalization of ₹857 crore as of June 2025. The stock has demonstrated strong performance, with its 52-week high recorded at ₹566.85 and a 52-week low at ₹314.18. Over the last 12 months, the stock has delivered an impressive 67.96% return, and an even more remarkable 236.87% growth over the past three years.
Promoter holding in the company stood at 69.81% as of March 2025. While this is a slight decrease from 74.04% in September 2024, it still indicates strong promoter control and confidence in the company's future.
Synergy Green Industries is strategically positioned to capitalize on India's accelerated clean energy transition. With its specialized manufacturing facilities in Kolhapur, catering to global Original Equipment Manufacturers (OEMs) in the wind energy sector, the company aligns perfectly with global sustainability trends and India's ambitious renewable energy targets.
The company's board has recommended a final dividend of ₹1 per share (10%) for FY25, subject to shareholder approval. This recommendation demonstrates confidence in sustainable cash flows and a commitment to returning value to shareholders.
With robust technological capabilities, a diversified and global customer base, and a strategic focus on the expanding renewable energy sector, Synergy Green Industries is well-equipped to grow its market share and maintain its leadership in precision casting solutions for the wind energy market.
