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Syncom Formulations (India) Ltd (SYNCOMF)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 524470 NSE: SYNCOMF Pharmaceuticals & Drugs | Small Cap | Syncom Formulations Share Price

₹20.85 1.05 (5.30%)

As on 22-Sep'26 11:37

Syncom Formulations (India) Ltd (SYNCOMF)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 524470 NSE: SYNCOMF Pharmaceuticals & Drugs | Small Cap | Syncom Formulations Share Price

₹20.85 1.05 (5.30%)

As on 22-Sep'26 11:37

Key Metrics
Valuation Multiples
Market Cap
₹1,861 Cr.
Current Price
₹20.9
52-Week Low / High
₹10 / 23
TTM EPS
₹0.9
TTM Sales
₹498 Cr.
Book Value per Share
₹4.7
P/E Ratio
21.76
Lower than its 5-year historical median
Industry PE
55.1
Price to Book (P/B)
4.23
Higher than its 5-year historical median
Price to Sales (P/S)
3.74
In line with its 5-year historical median
EV/EBITDA
15.35
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
15.69%
Outperforms industry median
Return on Capital Employed (ROCE)
18.77%
Outperforms industry median
Return on Assets (ROA)
12.02%
Operating Profit Margin
11.6%
Net Profit Margin
10.63%
Gross Profit Margin
15.2%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
79.15%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
82.56%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
95.3%
Asset Quality
Promoter Holding
50.57%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹346 Cr.
Equity
₹94 Cr.
Face Value
₹1
All Time Low / High
₹0.14 / 27.94

Syncom Formulations (India) stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Overvalued

Price Trend

Strong
Q.1 Is Syncom Formulations (India) Ltd a good quality company?
Syncom Formulations (India) Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Syncom Formulations (India) Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Syncom Formulations (India) Ltd vs industry peers?
Syncom Formulations (India) Ltd revenue CAGR is 20.39%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Syncom Formulations (India) Ltd?
Promoters hold 50.57% of the Syncom Formulations (India) Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Syncom Formulations (India) Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 23.2% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Syncom Formulations (India) Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 14.7%13.6%9.4%9.4%12.4%20.7%10.6%9.7%10.4%18.7%-
Value Creation
Index
0.10.0-0.3-0.3-0.10.5-0.2-0.3-0.30.3-

Growth Parameters

Sales 184185159187206245220225258463495
Sales YoY Gr.-0.5%-14.2%17.7%10%19.1%-10.3%2.3%15%79.2%-
Adj EPS 0.10.10.10.10.20.40.20.20.20.50.9
YoY Gr.-7.7%-21.4%27.3%28.6%100%-44.4%-10%33.3%100%-
BVPS (₹) 1.41.51.61.71.92.32.52.73.13.64.7
Adj Net
Profit
10.410.78.611.114.328.517.517.222.345.385
Cash Flow from Ops. 24.116.9-1.64.35.9-2.116.310.5-5.923.3-
Debt/CF from Ops. 0.20.7-7.820.4-30.13.57.9-12.10.2-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 10.8%17.6%28.2%79.2%
Adj EPS 15.6%21.7%33.9%100%
BVPS11.2%14.1%12.8%18.7%
Share Price 23.5% 24.4% 34.2% 18.7%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
109.67.38.710.317.18.67.28.214.521.8
Op. Profit
Mgn %
9.18.97.46.38.215.59.18.910.811.617.6
Net Profit
Mgn %
5.75.85.55.9711.787.78.69.817.1
Debt to
Equity
0.10.10.10.100.40.30.30.30-
Working Cap
Days
181184186151142154240286232132113
Cash Conv.
Cycle
2825505561731111171207884

Valuation of Syncom Formulations - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'13Mar'14Mar'15Mar'16Mar'17Mar'22Mar'23Mar'24Mar'25
Sales115151173184185220224263465
Operating Expenses + 104135155167168200204234411
Manufacturing Costs212936303041494748
Material Costs607684107103106101118267
Employee Cost 101113131421243451
Other Costs 141921182132303545
Operating Profit 111618171720203054
Operating Profit Margin (%) 9.3%10.8%10.5%9.1%9.0%9.1%8.9%11.3%11.6%
Other Income + 1123312151417
Exceptional Items 0-0-1-0-000-00
Interest 100002341
Depreciation 333334555
Profit Before Tax 81416161626273466
Tax 3566567916
Profit After Tax 6910101120202549
PAT Margin (%) 4.9%6.2%5.6%5.6%5.7%9.0%9.0%9.6%10.6%
Adjusted EPS (₹)0.10.10.10.10.10.20.20.30.5
Dividend Payout Ratio (%)23.70%16.80%16%15.10%14.80%13.10%0%0%0%
PARTICULARSMar'13Mar'14Mar'15Mar'16Mar'17Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 8895100109117217256288342
Share Capital 227878787886949494
Reserves 6517223139131162194248
Debt +2366125883725
Long Term Debt000000000
Short Term Debt2366125883725
Minority Interest000000000
Trade Payables192920473214202443
Others Liabilities 151616192219182226
Total Liabilities 124144143181184308378407416

Fixed Assets

Net Fixed Assets +505046465547437278
Gross Block7477808292101102136146
Accumulated Depreciation242735373754596368
CWIP 0005062600
Investments 796233643646693
Inventories61011151020212141
Trade Receivables29293146466876103108
Cash Equivalents 4576709681
Others Assets 29394140301251397696
Total Assets 124144143181184308378407416
PARTICULARSMar'13Mar'14Mar'15Mar'16Mar'17Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 67024141611-623
PBT 81416161626273466
Adjustment 22311-7-6-3-11
Changes in Working Capital -3-6-121214-3-28-16
Tax Paid -2-4-6-5-4-6-7-8-15
Cash Flow From Investing Activity + -0-41-23-18-27-4583-18
Capex -3-3001-11-21-8-10
Net Investments 1-32-17-13-25-3877-24
Others 11-1-6-610141416
Cash Flow From Financing Activity + -6-11-25835-15-68
Net Proceeds from Shares 000000000
Net Proceeds from Borrowing 000000100
Interest Paid -0-0-0-0-0-1-3-4-1
Dividend Paid -1-2-2-2-20-300
Others -512-17940-10-67
Net Cash Flow -121-11-2163-63
PARTICULARSMar'13Mar'14Mar'15Mar'16Mar'17Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)6.4510.199.999.919.3211.838.489.315.69
ROCE (%)1015.2915.5514.7213.2813.729.6810.9818.77
Asset Turnover Ratio0.921.131.211.151.010.890.650.671.13
PAT to CFO Conversion(x)10.7802.41.270.80.55-0.240.47
Working Capital Days
Receivable Days91.9070.2063.7075.9090.8094.30116.40123.9082.80
Inventory Days19.3019.2021.902625.2024.5033.1029.3024.50
Payable Days119117.60106.50114.50140.6079.5062.1069.2045.70

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Syncom Formulations (India) Ltd FAQs

The current trading price of Syncom Formulations on 22-Sep-2026 11:37 is ₹20.85.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 21-Sep-2026 the market cap of Syncom Formulations stood at ₹1,861.2 Cr

The latest P/E ratio of Syncom Formulations as of 21-Sep-2026 is 21.93.

The latest P/B ratio of Syncom Formulations as of 21-Sep-2026 is 4.26.

The 52-week high of Syncom Formulations is ₹22.52 and the 52-week low is ₹10.21.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Syncom Formulations is ₹495 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Syncom Formulations (India) Ltd is a average quality company.

The key valuation ratios of Syncom Formulations (India) Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Syncom Formulations (India) Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Syncom Formulations (India) Ltd

Syncom Formulations (India) Ltd was originally incorporated as Syncom Formulations (India) Private Limited in the state of Maharashtra on June 21, 1988 under the Companies Act, 1956. Further the status of company was changed to public limited company and thereby name of company changed to Syncom Formulations (India) Limited and a fresh certificate of change of name obtained on July 9, 1992.

The company was promoted by Kedarmal Bankda, Ajay Kumar Bankda & Vijay Kumar Bankda for manufacturing, marketing, dealership, importing, exporting & job work of pharmaceuticals, medicinal and other Industrial preparation & formulations under its own brands in ethical, OTC, generic and herbal market segment. The company came out with its Initial Public Offering in the Year 1994 hence obtained listing at BSE, DSE, ASE and MSE. However company has voluntarily de-listed its shares from ASE on July 8, 2004, MPSE on May 29, 2008 & DSE on September 2, 2004.

The company is engaged in the business of pharmaceutical formulations. It manufactures range of products in various dosage forms and markets them in various countries. In addition to pharmaceutical formulations in the form of tablets, capsules, liquids and dry powders, the company also manufactures Injectibles, inhalers and ear/eye drops. In 1994, the company undertook an expansion programme of setting up a new plant for manufacturing pharmaceutical formulations at Pithampur, Madhya Pradesh. The project which was financed through a public issue made in January 1994 was completed in 1995.

During the year 1997-98, the company has further diversified into ethical operations by introducing the range of prescription formulations. During the year 1998-99 there has been huge expansion of installed capacity and production base. Further the company introduced products in the generic, OTC and ethical divisions. During the year 2007-08 the company has further completed modernization and expansion of project in Pithampur unit, District Dhar, M.P with a total investment of Rs. 1516.62 Lakh.

Today, SFL stands as one of the fastest growing pharmaceutical company operating in more than 35 countries worldwide and has more than 150 products in various dosage forms which include tablets, capsules, dry syrups, and ointments/creams, dry powder Injections and ampoules and wide range of herbal products.

Syncom was keeping pace with the changing pharmaceutical scenario ventured into International market a decade ago. The International operations are managed from its International division located in Mumbai, commercial capital of India. Syncom today promotes all its generic, herbal and OTC range of products in the markets where it operates. Syncom's presence is felt in Asia, Africa, CIS, and Russia and Latin American countries. Mumbai Office also houses the Regulatory Affairs Department, which is well equipped with modern library, reference documents, and all other facilities to provide world-class registration dossiers.

Syncom's vision to globalise its herbal range of product has been vindicated by the excellent acceptance of these products by customers world over. Syncom has taken efforts to bring to mankind the goodness of AYURVEDA, the traditional Indian medicinal science through its unique range of herbal products used for various therapeutic and prophylactic purposes. Millions of healthy patients world wide, stand testimony to the alleviation of various disorders and improvement in their quality of life with products. The company presently exports goods to Guinea, Ghana, Kenya, Uganda, Sudan, Russia, Maldova, Tanzania, Africa, Azberjan, Nepal and Srilanka.

The company has been approved as a supplier to reputed hospitals and regulatory agencies including Central Medical Stores Organization of Gujarat Govt, Directorate of health services of Delhi Govt. and Central Govt. and supply to and registration of defense services is in its final stages. This results in generating substantial sales volume. Keeping in view the shifting consumer preferences for the use of herbal products, the company is aggressively manufacturing and marketing its herbal products like Colo Vaporex, Colo Inhaler, Edicare, Attom Megacaps, Ecziguard and Yas antacid salt.

In 2012 Company incorporated a Wholly Owned Subsidiary Company in the name of "TRADE ZONE FZE" in the United Arab Emirates.

Product range of the company includes:

Generic

  • Tablets
  • Capsules
  • Liquid Orals
  • Vials
  • Eye / Ear Drops
  • Ampoules
  • Dry Powder Orals

Herbal Branded

  • Colo Vaporex
  • Colo Inhaler
  • Colo Mouth Gel
  • Fastac Ointment
  • Candid Balm
  • Saloni Cream
  • Borosyn Cream
  • Edicare Cream
  • Ecziguard Cream
  • Pyl Gel
  • Attom Cream
  • Attom Megacaps
  • Shilajit Capsules
  • Liovset Tonic
  • Colo Cough Syrup
  • Pudin Rahat
  • Syncom Gripe Water
  • Feelax Powder
  • Yas Antacid Salt

Branded Allopathic

  • Qudermis Cream
  • Silver Plus Cream
  • Aciril Tablets
  • Fastac tablets
  • Odynil Tablets
  • Palera Plus Tablets
  • Polyfer Tablets 50 mg
  • Polyfer tablets 100 mg
  • Syncal D Tablets
  • M - Dox DT Tablets
  • Synortin Tablets
  • Synospas Tablets
  • Tici Forte Tablets
  • Triple Action Tablets
  • Flusa Kit Tablets
  • HBC kit (Combikit of 4 Tablets)
  • NTB-4 Kit Tablets
  • Fresca Tablets
  • Thixim
  • Thixim Tablets
  • Anergy Cap's
  • Grosyn
  • Profeed
  • Q-Coril Cough Formula
  • Syncal D-B12 Syrup
  • Aciril Suspension
  • Anergy Syrup
  • Nutone Syrup
  • Thixim-I Injection
  • Thixim-I Injection
  • Ceftacom Injection
  • Ceftacom Injection
  • TD-Mox
  • Polyfer Drops
  • Revive

Achievements/ recognition:

  • GMP certification
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