531173
Syschem (India) financials
- Market cap
- ₹165 Cr
- Sector
- Healthcare
What Syschem (India) does
Syschem (India) Limited manufactures Active Pharmaceutical Ingredients (APIs)/bulk drugs and intermediates, and also undertakes contract manufacturing for third parties. Its product range is concentrated in antibiotic APIs such as Amoxicillin, Ampicillin, Flucloxacillin Sodium, Cloxacillin Sodium, Cephalexin and Cephadroxil. Manufacturing is carried out at its facility in Village Bargodam, Tehsil Kalka, Panchkula (Haryana), which the company has been expanding through backward integration to add dedicated production lines. Products are supplied to consumers and traders both within India and in international markets.
Segments
- Bulk Drugs / API manufacturing
- Contract manufacturing
- Installed capacity
- ~4,200 TPA
- Manufacturing facility
- 1 plant (Village Bargodam, Tehsil Kalka, Panchkula, Haryana); new dedicated lines for Amoxicillin, Cloxacillin, Flucloxacillin and Dicloxacillin sodium under development via backward integration
- Annual production volume (FY25-26)
- 3,039 MT (vs 1,280 MT in FY24-25)
- API product SKUs
- 7+
- Customers and traders served globally
- 200+
- Export footprint
- 12+ countries across 3 continents (top destinations incl. Afghanistan, Bangladesh, China, Nepal, Thailand, Cambodia, Uganda, Kenya, Congo, Sri Lanka, Nigeria, Rwanda)
Quarterly results
Q1 FY27: revenue down 0.1%, net profit down 200.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 48 | 78 | 119 | 109 | 104 +118% | 142 +82% | 219 +85% | 109 −0% |
| EBITDA | 0 | 1 | 2 | 2 | 3 +4614% | 6 +397% | 9 +393% | 1 −78% |
| Net profit | -1 | 1 | 0 | 2 | 2 +397% | 4 +734% | 2 +278% | -2 −200% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −41.8% 1Y
1Y: ₹53.91 on 10 Sept 2025 → ₹31.37. High ₹59.66 (4 Nov 2025), low ₹30.09 (20 Aug 2026).
Financials, as filed
Revenue grew 71.6% a year over 3 years, FY23 to FY26. Operating margin narrowed to 3.7%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹114 Cr | ₹199 Cr | ₹332 Cr | ₹574 Cr |
| Operating profit | ₹9 Cr | ₹7 Cr | ₹4 Cr | ₹21 Cr |
| Operating margin | 7.6% | 3.5% | 1.2% | 3.7% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹2 Cr |
| Depreciation | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹4 Cr |
| Net profit | ₹5 Cr | ₹3 Cr | ₹0 Cr | ₹9 Cr |
| Net margin | 4.0% | 1.4% | 0.1% | 1.7% |
| Cash from operations | ₹-8 Cr | ₹-26 Cr | ₹-10 Cr | ₹8 Cr |
| Free cash flow | ₹-10 Cr | ₹-32 Cr | ₹-32 Cr | ₹-11 Cr |
| ROCE | 38.0% | 11.0% | 1.0% | 16.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹22 Cr | ₹23 Cr | ₹32 Cr | ₹40 Cr | ₹44 Cr | ₹49 Cr |
| Reserves | ₹-15 Cr | ₹-16 Cr | ₹-10 Cr | ₹17 Cr | ₹51 Cr | ₹73 Cr |
| Borrowings | ₹16 Cr | ₹2 Cr | ₹2 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other liabilities | ₹55 Cr | ₹51 Cr | ₹69 Cr | ₹107 Cr | ₹87 Cr | ₹169 Cr |
| Total liabilities | ₹77 Cr | ₹60 Cr | ₹93 Cr | ₹164 Cr | ₹182 Cr | ₹292 Cr |
| Fixed assets | ₹30 Cr | ₹32 Cr | ₹31 Cr | ₹31 Cr | ₹52 Cr | ₹68 Cr |
| Capital work in progress | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹4 Cr | ₹11 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹46 Cr | ₹28 Cr | ₹62 Cr | ₹129 Cr | ₹119 Cr | ₹224 Cr |
| Total assets | ₹77 Cr | ₹60 Cr | ₹93 Cr | ₹164 Cr | ₹182 Cr | ₹292 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jul 2026
Since Jun 2025, promoters added +6.67 pp while the public trimmed −6.64 pp.
- Promoters
- 63.4%
- DIIs
- 0.1%
- Public
- 36.5%
Since Jun 2025
- Promoters +6.67 pp
- Public −6.64 pp
- DIIs −0.03 pp
How it drifted, 12 quarters
Over this window the public fell from 46.0% to 36.5% — −9.5 pp.
Ownership split by quarter, oldest first. Dec '23: Promoters 53.9%, DIIs 0.1%, Public 46.0%.Mar '24: Promoters 53.9%, DIIs 0.3%, Public 45.9%.Jun '24: Promoters 53.9%, DIIs 0.3%, Public 45.9%.Sep '24: Promoters 53.2%, DIIs 0.2%, Public 46.6%.Dec '24: Promoters 53.2%, DIIs 0.2%, Public 46.6%.Mar '25: Promoters 57.0%, DIIs 0.2%, Public 42.8%.Jun '25: Promoters 56.7%, DIIs 0.2%, Public 43.1%.Sep '25: Promoters 56.7%, DIIs 0.2%, Public 43.1%.Dec '25: Promoters 56.7%, DIIs 0.2%, Public 43.1%.Mar '26: Promoters 60.9%, DIIs 0.2%, Public 39.0%.Jun '26: Promoters 60.1%, DIIs 0.2%, Public 39.7%.Jul '26: Promoters 63.4%, DIIs 0.1%, Public 36.5%.
Who bought this quarter
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Kalpana Virendra Shah +2.56 pp 5.60% held
- Bimal Virendra Shah +1.35 pp 7.88% held
- Bhavesh Virendra Shah +1.05 pp 7.88% held
- Virendra Popatlal Shah +0.93 pp 11.98% held
The same filing shows 9 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jul 2026 filing
Every holder of Syschem (India) above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| Virendra Popatlal Shah | 11.98% | +0.93 pp |
| Bhavesh Virendra Shah | 7.88% | +1.05 pp |
| Bimal Virendra Shah | 7.88% | +1.35 pp |
| Mahesh J Khokhani | 7.63% | −0.67 pp |
| Mehul Jagadishchandra Khokhani | 7.33% | −0.65 pp |
| Dinesh Jagdishchandra Khokhani | 7.29% | −0.64 pp |
| Kalpana Virendra Shah | 5.60% | +2.56 pp |
| Ranjan Jain | 4.62% | −0.40 pp |
| Ashika Global Finance Private Limited | 4.07% | −0.36 pp |
| Kamal Gadalay | 1.24% | −0.11 pp |
| Suresh Gadalay | 1.19% | −0.10 pp |
| Ruchika Jain | 1.16% | −0.10 pp |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Syschem (India)
Guides on how to read this kind of business and the numbers that matter.