Syncom Formulations (India) Ltd - Stock Valuation and Financial Performance

BSE: 524470 | NSE: SYNCOMF | Pharmaceuticals & Drugs | Small Cap

Syncom Formulations Share Price

11.18 0.11 0.99%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Syncom Formulations

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Syncom Formulations (India) stock performance -

mw4me loader
P/E Ratio (SA):
41.47
Market Cap:
1,050.9 Cr.
52-wk low:
4.7
52-wk high:
18.7

Is Syncom Formulations (India) Ltd an attractive stock to invest in?

1. Is Syncom Formulations (India) Ltd a good quality company?

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

2. Is Syncom Formulations (India) Ltd undervalued or overvalued?

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.

3. Is Syncom Formulations (India) Ltd a good buy now?

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

10 Year X-Ray of Syncom Formulations:

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

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 10.3%10.3%9.5%9.1%6.8%8.2%10.2%14.5%7.1%6.3%-
Value Creation
Index
-0.3-0.3-0.3-0.4-0.5-0.4-0.30.0-0.5-0.6-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 151173184185159187206245220225246
Sales YoY Gr.-14.6%6.1%0.5%-14.2%17.7%10%19.1%-10.3%2.3%-
Adj EPS 0.10.10.10.10.10.10.20.40.20.20.3
YoY Gr.-8.3%0%7.7%-21.4%27.3%28.6%100%-44.4%-10%-
BVPS (₹) 1.21.31.41.51.61.71.92.32.52.72.9
Adj Net
Profit
9.310.410.410.78.611.114.328.517.517.225
Cash Flow from Ops. 6.70.224.116.9-1.64.35.9-2.116.310.5-
Debt/CF from Ops. 0.532.50.20.7-7.820.4-30.13.57.9-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 4.5%7.2%3%2.3%
Adj EPS 4.6%10.4%0%-10%
BVPS9.3%11.8%13.3%7.9%
Share Price 6.4% 59.6% 53.7% 87%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
10.210.6109.67.38.710.317.18.67.29.5
Op. Profit
Mgn %
10.810.59.18.97.46.38.215.59.18.910.1
Net Profit
Mgn %
6.265.75.85.55.9711.787.710.3
Debt to
Equity
00.10.10.10.10.100.40.30.3-
Working Cap
Days
171171181184186151142154240286136
Cash Conv.
Cycle
222628255055617311111749

Recent Performance Summary

Sales growth is good in last 4 quarters at 11.44%

Return on Equity has declined versus last 3 years average to 9.50%

Sales growth has been subdued in last 3 years 3.01%

Net Profit has been subdued in last 3 years 0.00%

Latest Financials - Syncom Formulations (India) Ltd.

Standalone Consolidated
TTM EPS (₹) 0.3 0.3
TTM Sales (₹ Cr.) 246 250
BVPS (₹.) 2.9 3
Reserves (₹ Cr.) 182 183
P/BV 3.81 3.79
PE 41.47 39.83
From the Market
52 Week Low / High (₹) 4.67 / 18.65
All Time Low / High (₹) 0.14 / 19.49
Market Cap (₹ Cr.) 1,051
Equity (₹ Cr.) 94
Face Value (₹) 1
Industry PE 48.2

Management X-Ray of Syncom Formulations:

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 Syncom Formulations

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
Sales151173184185159187206245220225
Operating Expenses 135155167168147175189207200205
Manufacturing Costs343030333440474149
Material Costs10211610710381107118120106101
Employee Cost 11131314151516182124
Other Costs 19211822181815213230
Operating Profit 16181716121217382020
Operating Profit Margin (%) 10.8%10.5%9.1%8.9%7.4%6.3%8.2%15.5%9.1%8.9%
Other Income 123345571215
Interest 0000001023
Depreciation 3333444445
Exceptional Items 0-100000000
Profit Before Tax 14161616121317412627
Tax 56653231266
Profit After Tax 910101191114292020
PAT Margin (%) 6.2%5.6%5.6%5.8%5.5%5.9%6.9%11.9%9.0%8.9%
Adjusted EPS (₹)0.10.10.10.10.10.10.20.40.20.2
Dividend Payout Ratio (%)17%16%15%15%0%0%0%0%0%0%

Balance Sheet

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

Equity and Liabilities

Shareholders Fund 95100109114122133146178217256
Share Capital 78787878787878798694
Reserves 1722313644556899131162
Minority Interest0000000000
Debt366121292625883
Long Term Debt0000000000
Short Term Debt366121292625883
Trade Payables29204732222120291420
Others Liabilities 16161920171416221917
Total Liabilities 144142181179174176184292308377

Fixed Assets

Gross Block7780829298919395101102
Accumulated Depreciation27353737404347515459
Net Fixed Assets50464655584846444743
CWIP 00501000626
Investments 962331334248114364
Inventories10111510111416232021
Trade Receivables29314646384143756875
Cash Equivalents 57676896409
Others Assets3941392927232274125139
Total Assets 144142181179174176184292308377

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 702417-246-21610
PBT 14161616121317412627
Adjustment 23100-1-1-2-7-6
Changes in Working Capital -6-12125-10-4-6-294-3
Tax Paid -4-6-5-4-3-3-4-11-6-7
Cash Flow From Investing Activity -41-23-8-222-75-27-45
Capex -300-8-76-2-3-11-21
Net Investments -32-17-13-2-8-3-79-25-38
Others 1-1-61265761014
Cash Flow From Financing Activity -11-2-2-20-772835
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000001
Interest Paid 00000000-1-3
Dividend Paid -2-2-2-2-20000-3
Others 12-1000-672940
Net Cash Flow 21-16-671-5-21
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)10.199.999.919.567.338.7110.2418.0410.028.48
ROCE (%)15.2915.5514.7213.589.439.3712.3920.7210.619.68
Asset Turnover Ratio1.131.211.151.030.91.071.141.030.730.66
PAT to CFO Conversion(x)0.7802.41.55-0.220.360.43-0.070.80.5
Working Capital Days
Receivable Days7064769196777588118116
Inventory Days19222625242426293533
Payable Days88781151411237464757462

Syncom Formulations (India) Ltd Stock News

Syncom Formulations (India) Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Syncom Formulations on 28-Mar-2024 16:01 is ₹11.18.
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 28-Mar-2024 16:01 the market cap of Syncom Formulations stood at ₹1,050.9.
The latest P/E ratio of Syncom Formulations as of 28-Mar-2024 16:01 is 41.47.
The latest P/B ratio of Syncom Formulations as of 28-Mar-2024 16:01 is 3.81.
The 52-week high of Syncom Formulations is ₹18.65 and the 52-week low is ₹4.67.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Syncom Formulations is ₹246.5 ( Cr.) .

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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