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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

₹14.25 -0.17 (-1.18%)

As on 02-Jul'26 16:59

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

₹14.25 -0.17 (-1.18%)

As on 02-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,340 Cr.
Current Price
₹14.3
52-Week Low / High
₹10 / 19
TTM EPS
₹0.8
TTM Sales
₹487 Cr.
Book Value per Share
₹4.4
P/E Ratio
17.62
Lower than its 5-year historical median
Industry PE
49.2
Price to Book (P/B)
3.25
Lower than its 5-year historical median
Price to Sales (P/S)
2.75
Lower than its 5-year historical median
EV/EBITDA
12.35
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
15.61%
Outperforms industry median
Return on Capital Employed (ROCE)
18.66%
Outperforms industry median
Return on Assets (ROA)
12.13%
Operating Profit Margin
11.6%
Net Profit Margin
10.56%
Gross Profit Margin
15.1%
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
92.14%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
106.9%
Asset Quality
Promoter Holding
50.57%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹318 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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Quality

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Valuation

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Price Trend

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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 17.63%, compared to the industry median CAGR of 5.35%, 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 21.2% based on the current price.

10 Year X-Ray : Login to view analysis.

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 184185159187206245220225258463487
Sales YoY Gr.-0.5%-14.2%17.7%10%19.1%-10.3%2.3%15%79.2%-
Adj EPS 0.10.10.10.10.20.40.20.20.20.50.8
YoY Gr.-7.7%-21.4%27.3%28.6%100%-44.4%-10%33.3%100%-
BVPS (₹) 1.41.51.61.71.92.32.52.73.13.64.4
Adj Net
Profit
10.410.78.611.114.328.517.517.222.345.376
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 19.6% 12% 23.8% -24.9%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
109.67.38.710.317.18.67.28.214.520.2
Op. Profit
Mgn %
9.18.97.46.38.215.59.18.910.811.615.9
Net Profit
Mgn %
5.75.85.55.9711.787.78.69.815.7
Debt to
Equity
0.10.10.10.100.40.30.30.300
Working Cap
Days
181184186151142154240286232132113
Cash Conv.
Cycle
2825505561731111171207884

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales184185159187206245220225258463
Operating Expenses + 167168147175189207200205231409
Manufacturing Costs30303334404741494748
Material Costs10710381107118120106101116267
Employee Cost 13141515161821243451
Other Costs 18221818152132303344
Operating Profit 17161212173820202854
Operating Profit Margin (%) 9.1%8.9%7.4%6.3%8.2%15.5%9.1%8.9%10.8%11.6%
Other Income + 33455712151317
Exceptional Items -0-0-00-0000-00
Interest 0000102341
Depreciation 3344444555
Profit Before Tax 16161213174126273265
Tax 653231266816
Profit After Tax 1011911142920202449
PAT Margin (%) 5.6%5.8%5.5%5.9%6.9%11.9%9.0%8.9%9.1%10.6%
Adjusted EPS (₹)0.10.10.10.10.20.40.20.20.30.5
Dividend Payout Ratio (%)15.10%14.70%0%0%0%0%13.10%0%0%0%

Valuation of Syncom Formulations - Standalone

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!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 109114122133146178217256286340
Share Capital 78787878787986949494
Reserves 313644556899131162192246
Debt +6121292625883724
Long Term Debt0000000000
Short Term Debt6121292625883724
Minority Interest0000000000
Trade Payables47322221202914201443
Others Liabilities 19201714162219172125
Total Liabilities 181179174176184292308377394412

Fixed Assets

Net Fixed Assets +46555848464447437278
Gross Block829298919395101102136146
Accumulated Depreciation37374043475154596368
CWIP 50100062600
Investments 2312211143646693
Inventories15101114162320212141
Trade Receivables464638414375687593107
Cash Equivalents 676896409681
Others Assets 3959596369741251397393
Total Assets 181179174176184292308377394412

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 2417-246-21610-623
PBT 16161213174126273265
Adjustment 10-0-1-1-2-7-6-3-11
Changes in Working Capital 125-10-4-6-294-3-27-16
Tax Paid -5-4-3-3-4-11-6-7-8-14
Cash Flow From Investing Activity + -23-8-222-75-27-4584-18
Capex 0-8-76-9-3-11-21-8-10
Net Investments -17-13-2-84-79-25-3878-24
Others -612657610141415
Cash Flow From Financing Activity + -2-2-2-0-772835-15-68
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000100
Interest Paid -0-0-0-0-0-0-1-3-4-1
Dividend Paid -2-2-20000-300
Others -1000-672940-11-67
Net Cash Flow -16-671-5-2163-63

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)9.919.567.338.7110.2418.0410.028.488.7115.61
ROCE (%)14.7213.589.439.3712.3920.7210.619.6810.3918.66
Asset Turnover Ratio1.151.030.91.071.141.030.730.660.671.15
PAT to CFO Conversion(x)2.41.55-0.220.360.43-0.070.80.5-0.250.47
Working Capital Days
Receivable Days75.9090.8096.2077.2075.2088.10118.30115.90118.9078.90
Inventory Days2625.2024.2024.2026.5028.803532.7029.6024.60
Payable Days114.50140.60123.2073.8064.3075.2074.4061.8054.4038.90

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 (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Syncom Formulations (India) Ltd FAQs

The current trading price of Syncom Formulations on 02-Jul-2026 16:59 is ₹14.25.

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 01-Jul-2026 the market cap of Syncom Formulations stood at ₹1,339.5 Cr

The latest P/E ratio of Syncom Formulations as of 01-Jul-2026 is 17.62.

The latest P/B ratio of Syncom Formulations as of 01-Jul-2026 is 3.25.

The 52-week high of Syncom Formulations is ₹19.44 and the 52-week low is ₹10.21.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Syncom Formulations is ₹487 ( 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 Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Syncom Formulations (India) Ltd is likely to Rise-somewhat 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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