SKS TECHNOLOGIES GROUP LIMITED (SKS)
Share Price Analysis and Chart

21/11/2025

1

Upgrade to Buy from Accumulate

$4.25

1.67%

Morgans raises its target for SKS Technologies to $4.25 from $3.80 and upgrades to Buy from Accumulate. A strong outlook is anticipated following upgraded FY26 guidance, a $130m Victorian data-centre award and the acquisition of Delta Elcom.

Delta Elcom adds NSW exposure, notes the broker, where market size exceeds Victoria and offers meaningful contract opportunities.

Revenue is now expected to reach $320m, with PBT of $28.8m reflecting margin expansion as the business scales, explains the analyst.

Work in hand has risen to around $304m, with significant FY27 visibility, according to Morgans, and a large data-centre tender pipeline.

FORECAST
Morgans forecasts a full year FY26 dividend of 3.60 cents and EPS of 18.00 cents.
Morgans forecasts a full year FY27 dividend of 4.30 cents and EPS of 21.00 cents.

21/11/2025

1

Buy

$4.09

-2.15%

SKS Technologies will acquire Delta Elcom, a specialist in data centre infrastructure and electrical solutions based in Sydney.

The company will pay -$13.75-15m, comprising cash and new shares as the completion payment with an earnout of up to -$1.25m linked to 2026 performance.

Canaccord Genuity is confident the company can win electrical packages on the Stack campus at Erskine Park and being new to the NSW market will focus on smaller data centre contracts to gradually prove up its capabilities and build a base.

The pipeline of work in hand is $391m and the broker estimates roughly half of this will convert in FY27. Buy rating. Target rises to $4.09 frrom $3.14.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 7.40 cents and EPS of 18.80 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 8.40 cents and EPS of 21.80 cents.