SYNCOMF

Syncom Formulations (India) share price & financials

Price
₹13.99
Market cap
₹1.8k Cr
Sector
Healthcare

What Syncom Formulations (India) Limited does

Syncom Formulations (India) Limited manufactures and markets pharmaceutical products, earning revenue from sale of generic formulations, nutraceuticals and injectables to domestic and international markets. Manufacturing is carried out at its works in Pithampur, Dhar district (Madhya Pradesh), with corporate functions run out of Indore. The company sells across semi-urban and rural markets in India alongside an export business that it has been expanding into new geographies through additional product registrations.

Manufacturing facility
Works/plant at Pithampur, Dhar (Madhya Pradesh)
Corporate office
Indore, Madhya Pradesh
Product portfolio breadth
Generic formulations, nutraceuticals and injectables
Market presence
Domestic sales (incl. semi-urban and rural markets) plus exports to international markets
Founded 1988Headquarters Mumbai, Maharashtra (registered office); corporate office in Indore, Madhya Pradesh Company website

Quarterly results

Q1 FY27: revenue up 6.8%, net profit up 56.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue101 127 148 117 121 +20%115 −9%134 −9%125 +7%
EBITDA12 15 17 16 19 +58%21 +40%21 +24%26 +63%
Net profit11 13 18 16 17 +55%19 +46%25 +39%25 +56%
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 +13.2% 1Y

₹10.0₹15.0₹20.0Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹17.19 on 10 Sept 2025 → ₹19.46. High ₹21.39 (2 Sept 2026), low ₹10.3 (30 Mar 2026).

Financials, as filed

Revenue grew 29.7% a year over 3 years, FY23 to FY26. Operating margin widened to 15.8%.

Year endingFY23FY24FY25FY26
Revenue₹223 Cr₹257 Cr₹463 Cr₹487 Cr
Operating profit₹19 Cr₹28 Cr₹54 Cr₹77 Cr
Operating margin8.5%10.9%11.7%15.8%
Interest₹3 Cr₹4 Cr₹0 Cr₹0 Cr
Depreciation₹4 Cr₹4 Cr₹4 Cr₹5 Cr
Net profit₹20 Cr₹23 Cr₹50 Cr₹77 Cr
Net margin9.0%8.9%10.8%15.8%
Cash from operations₹10 Cr₹-6 Cr₹23 Cr₹58 Cr
Free cash flow₹-10 Cr₹-14 Cr₹13 Cr₹47 Cr
ROCE10.0%10.0%19.0%27.0%
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 endingFY21FY22FY23FY24FY25FY26
Equity capital₹79 Cr₹86 Cr₹94 Cr₹94 Cr₹94 Cr₹94 Cr
Reserves₹109 Cr₹136 Cr₹162 Cr₹192 Cr₹282 Cr₹318 Cr
Borrowings₹62 Cr₹58 Cr₹83 Cr₹72 Cr₹0 Cr₹1 Cr
Other liabilities₹42 Cr₹28 Cr₹38 Cr₹33 Cr₹74 Cr₹116 Cr
Total liabilities₹292 Cr₹308 Cr₹377 Cr₹392 Cr₹451 Cr₹529 Cr
Fixed assets₹91 Cr₹94 Cr₹91 Cr₹120 Cr₹124 Cr₹184 Cr
Capital work in progress₹0 Cr₹6 Cr₹26 Cr₹0 Cr₹8 Cr₹0 Cr
Investments₹11 Cr₹43 Cr₹64 Cr₹66 Cr₹148 Cr₹109 Cr
Other assets₹189 Cr₹165 Cr₹196 Cr₹206 Cr₹171 Cr₹237 Cr
Total assets₹292 Cr₹308 Cr₹377 Cr₹392 Cr₹451 Cr₹529 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 Jun 2026

The ownership split has held steady since Jun 2025. The shareholder count shrank 10% to 4,22,114.

Promoters
50.6%
FIIs
0.3%
Public
49.1%

Since Jun 2025

  • FIIs −0.06 pp
  • Public +0.05 pp
  • Promoters 0.00 pp

How it drifted, 12 quarters

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 50.6%, Public 49.4%.Dec '23: Promoters 50.6%, Public 49.4%.Mar '24: Promoters 50.6%, FIIs 0.1%, Public 49.4%.Jun '24: Promoters 50.6%, FIIs 0.1%, Public 49.3%.Sep '24: Promoters 50.6%, FIIs 0.1%, Public 49.3%.Dec '24: Promoters 50.6%, FIIs 0.1%, Public 49.3%.Mar '25: Promoters 50.6%, FIIs 0.1%, Public 49.3%.Jun '25: Promoters 50.6%, FIIs 0.4%, Public 49.0%.Sep '25: Promoters 50.6%, FIIs 0.1%, Public 49.3%.Dec '25: Promoters 50.6%, FIIs 0.3%, Public 49.2%.Mar '26: Promoters 50.6%, FIIs 0.2%, Public 49.2%.Jun '26: Promoters 50.6%, FIIs 0.3%, Public 49.1%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Syncom Formulations (India) Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Kedarmal Shankarlal Bankda 12.44%unchanged
Vijay Shankarlal Bankda 10.48%unchanged
Paradise Vyapar Private Limited 5.02%unchanged
Ankit Bankda 4.99%unchanged
Asha Vijay Bankda 4.90%unchanged
Vimla Bankda 4.26%unchanged
Strand Developers Pvt Ltd 3.82%unchanged
Vijay Bankda Huf 1.28%unchanged
Payal Ankur Bankda 1.25%unchanged
Kedarmal Shankarlal Bankda Huf 1.12%unchanged
Sulabh Rahul Bankda 0.99%unchanged
Rahul Bankda 0.02%unchanged

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.

What the price assumes

Attractive

To justify its price of ₹19, this stock must grow earnings at 19% every year for 7 years. Our analysis caps realistic growth at ~50%. At that growth it is worth ₹87 — upside of 348%.

Growth the price implies
18.5% a year
for 7 years, fading to 4%
It has actually compounded at
49.6% a year
net profit, FY23–FY26 · EPS 49.8%
The gap
-0.3 pp
348% downside if it only repeats history
Price today ₹19.46 Value at the reference growth ₹87.1

Change the assumptions yourself →

Learn to analyse Syncom Formulations (India) Limited

Guides on how to read this kind of business and the numbers that matter.