Syngene International Ltd - Stock Valuation and Financial Performance

BSE: 539268 | NSE: SYNGENE | Business Support | Mid Cap

Syngene Internation. Share Price

755.25 23.15 3.16%
as on 12-Apr'24 10:20

DeciZen - make an informed investing decision on Syngene Internation.

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

Syngene International stock performance -

mw4me loader
P/E Ratio (SA):
64.61
Market Cap:
30,086.8 Cr.
52-wk low:
601.8
52-wk high:
860.2

Is Syngene International Ltd an attractive stock to invest in?

1. Is Syngene International Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Syngene International Ltd is a good quality company.

2. Is Syngene International Ltd undervalued or overvalued?

The key valuation ratios of Syngene International Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Syngene International Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Syngene International Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Syngene Internation.:

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.
Syngene International Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 24.9%21.1%17.8%13.7%10.8%13.3%13.3%12.1%10.2%12.9%-
Value Creation
Index
1.20.90.30.0-0.20.00.00.1-0.10.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 7008601,1071,2011,4231,8262,0122,1792,6013,1943,333
Sales YoY Gr.-22.9%28.7%8.5%18.5%28.3%10.2%8.3%19.4%22.8%-
Adj EPS 4.54.76.36.868.28.79.39.312.511.6
YoY Gr.-4.7%35.3%7%-11.7%37.5%6.3%5.8%0.9%33.6%-
BVPS (₹) 17.620.925.234.742.348.553.468.58088.697.9
Adj Net
Profit
166186253271239329350370374500466
Cash Flow from Ops. 30018.5308398446630677698582838-
Debt/CF from Ops. 0.58.42.921.81.311.11.40.7-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 18.4%17.6%16.7%22.8%
Adj EPS 12.1%15.8%12.6%33.6%
BVPS19.7%15.9%18.4%10.8%
Share Price - 21.3% 10.2% 22.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
28.224.827.122.215.317.816.914.812.214.512.4
Op. Profit
Mgn %
37.134.636322829.429.930.228.430.828.4
Net Profit
Mgn %
23.721.722.922.616.81817.41714.415.714
Debt to
Equity
0.20.20.90.60.50.40.30.30.30.2-
Working Cap
Days
146182168171188161139146156149126
Cash Conv.
Cycle
-1124373120141829424764

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 16.65%

Net Profit is growing at healthy rate in last 3 years 12.55%

Sales growth is good in last 4 quarters at 12.74%

Return on Equity has declined versus last 3 years average to 12.40%

Latest Financials - Syngene International Ltd.

Standalone Consolidated
TTM EPS (₹) 11.6 12.4
TTM Sales (₹ Cr.) 3,333 3,566
BVPS (₹.) 97.9 99.6
Reserves (₹ Cr.) 3,533 3,600
P/BV 7.65 7.52
PE 64.61 60.16
From the Market
52 Week Low / High (₹) 601.80 / 860.20
All Time Low / High (₹) 147.50 / 860.20
Market Cap (₹ Cr.) 30,087
Equity (₹ Cr.) 402
Face Value (₹) 10
Industry PE 47.1

Management X-Ray of Syngene Internation.:

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 (%)

Event Update

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Analyst's Notes

Key Ratios of Syngene Internation.

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales7008601,1071,2011,4231,8262,0122,1792,6013,194
Operating Expenses 4865797278161,0331,2911,4101,5281,8642,261
Manufacturing Costs2292983754074976326687399781,148
Material Costs2-10-41-14261-25-22-42
Employee Cost 156202249309377465572642698812
Other Costs 10089107100173167169173209343
Operating Profit 214281380385390535602651738933
Operating Profit Margin (%) 30.5%32.7%34.4%32.0%27.4%29.3%29.9%29.9%28.4%29.2%
Other Income 81269413676968310873
Interest 08818233235282445
Depreciation 668197114131164219275310359
Exceptional Items 0000007135-310
Profit Before Tax 156204281347372414516467482601
Tax 2229405967841046488128
Profit After Tax 134175241287305331412404394473
PAT Margin (%) 19.1%20.4%21.8%23.9%21.4%18.1%20.5%18.5%15.1%14.8%
Adjusted EPS (₹)3.64.46.07.27.68.310.310.19.811.8
Dividend Payout Ratio (%)0%239%8%7%7%3%0%0%10%11%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 6538331,0061,3881,6921,9392,1352,7413,2053,556
Share Capital 26199200200200200400400401401
Reserves 6276348061,1881,4921,7391,7352,3412,8043,155
Minority Interest0000000000
Debt155155891787664537309772790575
Long Term Debt0197256905863470512532489
Short Term Debt155136166977819130926025886
Trade Payables776974103203224223239235260
Others Liabilities 3063643134345579111,3721,0361,2661,377
Total Liabilities 1,1911,4222,2842,7113,1163,6114,0394,7895,4965,769

Fixed Assets

Gross Block7209381,1111,3321,6612,1212,9673,4043,8833,994
Accumulated Depreciation3264355315226307849841,2411,5281,782
Net Fixed Assets3945035808101,0301,3371,9842,1632,3542,212
CWIP 45105237175155274234237346126
Investments 3521462775401587167777021,034941
Inventories1538383286432560179333
Trade Receivables94180185199267339398474508484
Cash Equivalents 92116720527967435280638515509
Others Assets1993332474274534673415145581,163
Total Assets 1,1911,4222,2842,7113,1163,6114,0394,7895,4965,769

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 30019308398446630677698582838
PBT 156204281347372414516467482601
Adjustment 49739389181129223279381375
Changes in Working Capital 130-216-2637-271824535-177-4
Tax Paid -35-42-40-75-81-96-106-83-104-134
Cash Flow From Investing Activity -37412-751-469-350-647-428-628-612-688
Capex -97-204-294-306-364-583-643-447-476-533
Net Investments -283206-463-218-4-119126-244-162-191
Others 610655185589622636
Cash Flow From Financing Activity 155-10716-81-79-72-22658-31-340
Net Proceeds from Shares 013722521100
Net Proceeds from Borrowing -5197070-19-129-26813400
Interest Paid 0-8-1-18-23-30-35-28-18-34
Dividend Paid 0-114-200-24-24-2400-40
Others 160-4528-66-17109100-49-14-266
Net Cash Flow 8120273-15217-8924128-61-190
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)22.8323.5526.192419.8118.2120.216.5613.2413.99
ROCE (%)23.3323.3119.8517.616.716.9419.5715.3513.1915.61
Asset Turnover Ratio0.730.660.60.480.490.540.530.490.510.57
PAT to CFO Conversion(x)2.240.111.281.391.461.91.641.731.481.77
Working Capital Days
Receivable Days45586058606167736957
Inventory Days91113111513671729
Payable Days0-2,583-5,9560-4,1352,9970-3,345-4,008-2,154

Syngene International Ltd Stock News

Syngene International Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Syngene Internation. on 12-Apr-2024 10:20 is ₹755.2.
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 12-Apr-2024 10:20 the market cap of Syngene Internation. stood at ₹30,086.8.
The latest P/E ratio of Syngene Internation. as of 12-Apr-2024 10:20 is 64.61.
The latest P/B ratio of Syngene Internation. as of 12-Apr-2024 10:20 is 7.65.
The 52-week high of Syngene Internation. is ₹860.2 and the 52-week low is ₹601.8.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Syngene Internation. is ₹3,333 ( Cr.) .

About Syngene International Ltd

Syngene International, incorporated in 1993, is an internationally reputed contract research and manufacturing organization, which supports R&D programs from lead generation to clinical supplies. The company’s multi-disciplinary skills in integrated drug discovery and development include capabilities in medicinal chemistry, biology, in vivo pharmacology, toxicology, custom synthesis, process R&D, cGMP manufacturing, formulation and analytical development along with Clinical development services. The company has state-of-the-art research facilities certified with ISO 9001:2008, ISO 14001:2004, and OHSAS 18001:2007. The company’s animal facilities are GLP certified by the Indian authorities and AAALAC accredited. The company has successfully offered these services to many clients including start-up companies, large pharma/ biotech, agrochemical, chemical, nutrition and animal health companies in the USA, Europe and the Asia Pacific including Japan and Australia. Syngene has a strong corporate governance framework with a focus on client satisfaction, quality, safety, ethics and integrity. The company’s ability to deliver significant value to its customers by leveraging its scientific skills, global mindset and India’s cost competitiveness differentiates it as one of the most preferred partners.

Business area of the company

The company is engaged in providing contract research and manufacturing services from lead generation to clinical supplies to pharmaceutical and biotechnology companies worldwide.

Services

  • Discovery Chemistry
  • Discovery Biology
  • Safety Assessment
  • Large Molecule Development
  • Chemical Development
  • Formulation Development
  • Stability Studies
  • Polymer Research
  • Integrated Discovery & Development
  • Clinical Development Services
  • Bioinformatics
  • Antibody Drug Conjugates
  • Oligonucleotide Synthesis

Awards

  • 2000-01: Certificate of Excellence for Export Achievement - Under 100% EOU Scheme in Karnataka.
  • 2001-02: Certificate of Excellence for Export Achievement - Under 100% EOU Scheme in Karnataka.
  • 2001-02: Top Exporter Sector - Biotechnology; 100% EOUs in Karnataka; Ptd by Cochin Special Economic Zone, Govt of India, Ministry of Commerce & Industry.
  • 2005: BioSpectrum Bio Services Company of the Year.
  • 2007: BioSpectrum Bio Services Company of the Year.
  • 2008: 'Bangalore Bio' Bio Excellence Award - Biotech Services Sector.
  • 2008: BioSpectrum Bio Services Company of the Year.
  • 2009: 'Bangalore Bio' Bio Excellence Award - Biotech Services Sector.
  • 2009: Best Bioservices Company of the Year- by Biospectrum.
  • 2011: CIO100 Award.
  • 2011: 'Workplace Assessment Conditions (WCA) Achievement Award' by Intertek.
  • 2011: 'Sliver EDGE' Award - Enterprise Driving Growth & Excellence Through IT.
  • 2012: CIO100 Award for highest level of operational and strategic excellence in information technology.
  • 2013: ABLE (Association of Biotechnology Led Enterprises) - Tenth Anniversary Award for ‘Outstanding contribution to Bioservices’.
  • 2013: Diamond Sponsor-Recognation by the Association of Scientists of Indian Origin of the Society of Toxicology.
  • 2014: 'Sliver EDGE' Award - Enterprise Driving Growth & Excellence Through IT for ‘Comprehensive SAP Implementation’.
  • 2014: EHS best practices award by CII.
  • 2014: SAP Ace Award for special recognition for complex SAP implementation.
  • 2014: Level I Laboratory certification issued by the NGSP to Clinigene International Limited.
  • 2014: SAP ACE Award 2014 won by Syngene RISE team.
  • 2015: Organisation with Innovative HR Practices Award - At the 14th Annual Asia Pacific HRM Congress 2015.
  • 2015: CIO100 Award 2015 - The Versatile Honoree Award & The CIO 100 Networking Pioneer Special Award.
  • 2015: Bangalore India Bio - Bio Excellence Award for outstanding contribution to the Biotech services sector.
  • 2016: Dynamic Enterprise of the Year 2016 - At the 9th Annual Pharmaceutical Leadership Summit & Pharma Leaders Business Leadership Awards 2016- in recognition for its contribution to the field of Research and Development for the Life Science Industry.
  • 2016: CII Award - Won first place in the Office/Software/Service Sector.
  • 2016: CII Award- Four Star Rating on Environment Health & Safety Management System.
  • 2017: Best Contract Research Organisation (CRO) Provider - Runner-up Award - At The 4th Annual World ADC Awards 2017.
  • 2017: Bio Services Excellence Award 2017 - Bangalore Tech Summit.
  • 2018: Bio-Excellence Award 2018 - At Bengaluru Tech Summit, Bengaluru.
  • 2018: Best Bioprocessing Excellence Award 2018 - At 5th Biologics Manufacturing Asia, Singapore.
  • 2018: Healthcare Company of the Year 2018- At the 7th Annual VCCircle Awards 2018, Mumbai.
  • 2018: HR Excellence Award 2018 'For Best Talent Management Strategy' - At the HR Talent Management Leadership Awards (World HRD Congress), Mumbai.
  • 2019: Best Employer Brand 2019 by the Employer Branding Institute, World HRD Congress at the 14th edition of the awards for robust and effective HR and people management system.
  • 2019: India Pharma Award 2019 - For “Excellence in Contract Research and Manufacturing Services” at CPhI & P-MEC India Expo.
  • 2019: Utthama Suraksha Puraskar 2019 - (Pharma and Chemical Manufacturing Category) by National Safety Council of India (NSCI). Leadership Awards.
  • 2019: CMO Leadership Awards- Presented by Life Science Leader Magazine in New York.
  • 2019: FICCI CSR Award for Environmental Sustainability - At the 17th Edition of the awards in New Delhi.
  • 2019: Safe Workplace Champion Award - At the 8th Manufacturing Supply Chain Summit and Awards.
  • 2019: Best Leadership Development Program for Middle Management Award - At the 6th Global Training and Development Leadership Awards.

Milestones

  • 1994: Initiated operations as a CRO with services in chemistry and biology.
  • 1998: Granted 100% Export Oriented Unit (EOU) status by the Government of India.
  • 1999: First operational expansion in R&D by way of expansion of lab space to over 23,000 sq. ft.
  • 2000: Clinigene International Limited (CIL) was incorporated as a 100% subsidiary of Biocon to provide clinical research services to domestic and multinational companies.
  • 2001: Forayed into chemical development with a dedicated manufacturing facility.
  • 2003: Moved to Biocon SEZ, a 90-acre biopharmaceutical SEZ with operations spread over 65,000 sq. ft. 
  • 2007: Bristol-Myers Squibb and the Company signed the first long-term contract to set up its first dedicated R&D Center.
  • 2007: Expansion of research facilities at Biocon SEZ to 148,000 sq. ft.
  • 2007: Crossed an annual turnover of over Rs 1,000 million in Financial Year 2007.
  • 2009: Dupont Crop Protection and the Company extended a partnership for R&D services.
  • 2009: Expansion of manufacturing services with a new plant which is cGMP compliant.
  • 2009: Initiated operations in safety assessment and large molecules development services.
  • 2010: Acceptance of the clinical and bio-analytical facilities of Clinigene International Limited by the Department of Health and Human Services, FDA.
  • 2010: Initiated operations in formulation development.
  • 2011: Endo Pharmaceuticals and the Company collaborated to develop novel biological therapeutic molecules against cancer.
  • 2012: Abbott and Syngene collaborated to establish Abbott's nutrition research and development center in India and its second dedicated R&D center.
  • 2012: Certification of clinical facilities by ANVISA.
  • 2012: Acquired 100% stake in Clinigene International Limited from Biocon.
  • 2013: Crossed an annual turnover of over Rs 5,000 million in Financial Year 2013.
  • 2013: Crossed an annual turnover of over Rs 5,000 million in Financial Year 2013.
  • 2013: Acceptance of its control testing laboratory by the Department of Health & Human Services, FDA.
  • 2014: Bristol Myers Squibb and Syngene extend collaboration for its dedicated R&D center until 2020.
  • 2014: Acceptance of manufacturing facility by the Department of Health & Human Services, FDA.
  • 2014: Established a 75,000 sq.ft center to provide stability and analytical services.
  • 2015: Syngene listed on BSE (Bombay Stock Exchange) & NSE (National Stock Exchange) of India
  • 2015: Clinigene International Limited amalgamated with Syngene.
  • 2016: Acquisition of Strand Life Sciences’ Systems Biology and Pharma Services Practice Assets: Expansion into Bioinformatics & NGS Services.
  • 2016: Amgen Inc. collaborated with Syngene to establish the ‘Syngene Amgen Research and Development Center (SARC)’, its fourth dedicated R&D center.
  • 2016: Crossed an annual turnover of Rs 10,000 Million.
  • 2017: Strategic collaboration with Zoetis to develop and manufacture animal medicines.
  • 2017: Herbalife Nutrition collaborated with Syngene to establish its first nutrition research & development center in India.
  • 2017: Broadening of Research Collaboration with Amgen Inc. Expands Dedicated R&D Center.
  • 2017: Expansion of Bristol-Myers Squibb's ongoing research collaboration with Syngene & the collaboration extended until 2026.
  • 2018: Signed R&D agreement with GSK to advance drug discovery in multiple therapeutic areas.
  • 2018: Received PMDA Accreditation.
  • 2018: Syngene announces partnership with Zumutor Biologics for Biotherapeutic Antibody Discovery Services.
  • 2018: Syngene expands collaboration with Baxter until 2024.
  • 2019: Signed an agreement with Biotechnology Industry Research Assistance Council (BIRAC), a Government of India undertaking, for setting up Center for Advanced Protein Studies (CAPS).
  • 2019: cGMP approval from Ministry of Health, Russian Federation for the drug product manufacturing facility, stability center and quality function.
  • 2020: Commenced Phase I operations at Hyderabad.
  • 2020: GLP certification for Viral Testing Facility approval from NGCMA (India’s first and only GLP-certified viral clearance study service provider).
  • 2020: COVID-19: Setting up of RT-PCR testing center.
  • 2020: Successfully completed unannounced US FDA inspection for Bio-analytical studies.
  • 2020: Extended biologics discovery and preclinical research capabilities in CAR -T cell therapy.
  • 2020: Mangalore API facility completes construction phase and moves into qualification phase; executed 1st order.
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