SYNGENE

Syngene International share price & financials

Price
₹440.75
Market cap
₹15.7k Cr
Sector
Healthcare
Calls analysed
7
Latest concall · Q1 FY27 · call held 30 Jul 2026

Syngene International Limited Q1 FY27

Revenue from operations ₹736 cr −16%Operating EBITDA ₹91 cr EBITDA Margin 12% Profit after tax ₹1 cr

What went well

  • New MD & CEO Siddharth Mittal appointed to lead strategic renewal and execution.
  • MoU signed with THSTI for early and late-phase clinical development, translational research, and bioanalytical sciences.
  • Strengthening AI-enabled drug discovery platform Syn.AI with giga-scale virtual screening and AI-driven de novo design capabilities.

What to watch

  • Revenue from operations declined 16% year-on-year to INR 736 crores.
  • Operating EBITDA declined to INR 91 crores, with an EBITDA margin of 12%.
Read the full call →

What Syngene International Limited does

Syngene International is an integrated contract research, development and manufacturing organisation (CRDMO) providing outsourced R&D and manufacturing services to pharmaceutical, biotechnology, nutrition, animal health, consumer goods and specialty-chemicals companies. It earns through fee-for-service, dedicated full-time-equivalent (FTE) team and milestone/outcome-based engagement models that span drug discovery, preclinical and clinical development, and commercial-scale manufacturing of both small and large molecules, including biologics, antibody-drug conjugates, peptides and oligonucleotides. It operates across four campuses - three in India (Bengaluru, Mangalore, Hyderabad) and one in Baltimore, USA - housing discovery laboratories, cGMP biologics and API manufacturing plants, and clinical/translational research facilities. Syngene does not sell its own branded drugs; client-funded intellectual property and molecules developed under contract remain owned by its pharma and biotech partners.

Segments

  • Research Services (CRO)
  • Dedicated R&D Centers
  • Development Services (Translational & Clinical Research)
  • Contract Development and Manufacturing Services (CDMO)
Global campuses
4 (Bengaluru, Mangalore & Hyderabad, India; Baltimore, USA)
Scientists on staff
5,778
Active clients
~400, including 16 of the top 20 global pharma companies
R&D and manufacturing infrastructure
3+ million sq. ft. across campuses
Patents held by clients from Syngene-enabled research
400+
Regulatory-approved / accredited facilities
US FDA, EMA, UK VMD, Health Canada and PMDA approved; AAALAC accredited and GLP certified
Founded 1993Headquarters Bengaluru, Karnataka, IndiaEmployees 8,373 (March 31, 2026) Company website

Guidance record · Q1 FY27

what the last two calls moved 18 tracked 5 delivered 3 missed 10 open
  • Bayview Facility Operationalization delayed said Q1 FY26 Promised: H2 FY26 Q1 FY27: Operationalization confirmed for 'later this year' (FY27), but revenue contribution is now pushed out to FY28, indicating a further delay in commercial impact.
  • FY26 Reported Revenue Growth delivered, diluted said Q4 FY25 Promised: mid-single-digit range Q4 FY26: Full-year revenue grew 3%, missing the original 'mid-single-digit' guidance but significantly beating the revised guidance of a 3-5% decline.
  • FY26 Effective Tax Rate went quiet said Q4 FY25 Promised: 26% Q4 FY26: The final effective tax rate for FY26 was not disclosed in the Q4 earnings report, leaving the final outcome of the revised 21-23% guidance unconfirmed.

All 18 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue down 15.8%, net profit down 110.4% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue891 944 1,018 875 911 +2%917 −3%1,037 +2%736 −16%
EBITDA245 284 344 206 200 −19%209 −26%303 −12%91 −56%
Net profit106 131 183 87 67 −37%15 −89%148 −19%-9 −110%
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 −41.4% 1Y

₹400₹500₹600Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q3 FY26 — 23 Jan 2026Q4 FY26 — 30 Apr 2026Q1 FY27 — 30 Jul 2026

1Y: ₹652.55 on 10 Sept 2025 → ₹382.65. High ₹670.8 (15 Sept 2025), low ₹382.65 (11 Sept 2026).

How the price took the results

close before → close after

Q1 FY27
−3.6%
30 Jul
Q4 FY26
+8.2%
30 Apr
Q3 FY26
−8.2%
23 Jan

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 5.4% a year over 3 years, FY23 to FY26. Operating margin narrowed to 24.6%.

Year endingFY23FY24FY25FY26
Revenue₹3.2k Cr₹3.5k Cr₹3.6k Cr₹3.7k Cr
Operating profit₹934 Cr₹1.0k Cr₹1.0k Cr₹919 Cr
Operating margin29.3%29.1%28.6%24.6%
Interest₹45 Cr₹47 Cr₹53 Cr₹49 Cr
Depreciation₹367 Cr₹426 Cr₹433 Cr₹453 Cr
Net profit₹465 Cr₹510 Cr₹496 Cr₹317 Cr
Net margin14.6%14.6%13.6%8.5%
ROCE15.0%15.0%13.0%10.0%
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₹400 Cr₹401 Cr₹401 Cr₹402 Cr₹403 Cr₹403 Cr
Reserves₹2.4k Cr₹2.9k Cr₹3.2k Cr₹3.9k Cr₹4.3k Cr₹4.4k Cr
Borrowings₹893 Cr₹1.0k Cr₹815 Cr₹555 Cr₹582 Cr₹458 Cr
Other liabilities₹1.2k Cr₹1.2k Cr₹1.4k Cr₹1.3k Cr₹1.2k Cr₹1.8k Cr
Total liabilities₹4.9k Cr₹5.6k Cr₹5.8k Cr₹6.2k Cr₹6.5k Cr₹7.1k Cr
Fixed assets₹2.2k Cr₹2.4k Cr₹2.7k Cr₹2.9k Cr₹3.0k Cr₹3.0k Cr
Capital work in progress₹237 Cr₹346 Cr₹177 Cr₹838 Cr₹989 Cr₹1.0k Cr
Investments₹702 Cr₹1.0k Cr₹918 Cr₹548 Cr₹547 Cr₹741 Cr
Other assets₹1.7k Cr₹1.8k Cr₹2.1k Cr₹1.9k Cr₹2.0k Cr₹2.3k Cr
Total assets₹4.9k Cr₹5.6k Cr₹5.8k Cr₹6.2k Cr₹6.5k Cr₹7.1k 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

Since Jun 2025, FIIs trimmed −4.69 pp while DIIs added +3.96 pp.

Promoters
52.6%
FIIs
11.8%
DIIs
28.0%
Public
7.2%
Others
0.4%

Since Jun 2025

  • FIIs −4.69 pp
  • DIIs +3.96 pp
  • Public +0.70 pp

How it drifted, 12 quarters

Over this window DIIs went from 11.7% to 28.0% — +16.3 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 54.8%, FIIs 23.6%, DIIs 11.7%, Public 9.5%, Others 0.5%.Dec '23: Promoters 54.8%, FIIs 21.2%, DIIs 14.6%, Public 9.1%, Others 0.3%.Mar '24: Promoters 54.8%, FIIs 20.9%, DIIs 15.8%, Public 8.2%, Others 0.3%.Jun '24: Promoters 54.7%, FIIs 20.6%, DIIs 16.8%, Public 7.4%, Others 0.4%.Sep '24: Promoters 54.7%, FIIs 20.7%, DIIs 17.5%, Public 6.7%, Others 0.3%.Dec '24: Promoters 52.7%, FIIs 20.6%, DIIs 19.5%, Public 6.8%, Others 0.3%.Mar '25: Promoters 52.7%, FIIs 19.5%, DIIs 21.5%, Public 6.0%, Others 0.3%.Jun '25: Promoters 52.7%, FIIs 16.5%, DIIs 24.1%, Public 6.5%, Others 0.3%.Sep '25: Promoters 52.7%, FIIs 16.3%, DIIs 24.6%, Public 6.1%, Others 0.3%.Dec '25: Promoters 52.7%, FIIs 15.0%, DIIs 25.8%, Public 6.2%, Others 0.3%.Mar '26: Promoters 52.7%, FIIs 13.9%, DIIs 26.4%, Public 6.7%, Others 0.3%.Jun '26: Promoters 52.6%, FIIs 11.8%, DIIs 28.0%, Public 7.2%, Others 0.4%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 2 holders trimming and 6 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Syngene International Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Biocon Limited 52.32%−0.09 pp
Nippon Life India Trustee Ltd-A/C Nippon India Pharma Fund Mutual fund7.73%+1.74 pp
ICICI Prudential Nifty Smallcap 250 ETF Mutual fund5.30%newly disclosed
DSP Nifty Smallcap 250 Index Fund Mutual fund4.61%newly disclosed
Government Of Singapore - E Sovereign2.13%−0.76 pp
SBI Nifty Smallcap 250 Index Fund Mutual fund1.95%newly disclosed
Mirae Asset Nifty 500 Healthcare ETF Mutual fund1.85%newly disclosed
Life Insurance Corporation Of India Insurer1.78%newly disclosed
HSBC Mutual Fund - HSBC Midcap Fund Mutual fund1.55%newly disclosed
BIOCON LIMITED EMPLOYEE WELFARE TRUST (MURALI KRISHNAN K N and K NANDA KUMAR) 0.26%unchanged
Kiran Mazumdar Shaw 0.01%unchanged
Dev Mazumdar 0.00%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.

Mutual funds in SYNGENE

Filings to Aug 2026

0 new, 7 added, 1 trimmed, 0 sold out — net +39.54 L shares (+9.5%).

Held by funds
₹1.8k Cr
18 schemes
Biggest holder
Nippon India Small Cap Fund
₹534 Cr · 0.7% of that fund
SchemeHoldingLast month
Nippon India Small Cap Fund Nippon India Mutual Fund₹534 Cr+8.59 L
SBI Multi Asset Allocation Fund SBI Mutual Fund₹281 Crheld
Nippon India Multi Cap Fund Nippon India Mutual Fund₹264 Crheld
Nippon India Focused Fund Nippon India Mutual Fund₹240 Crheld
Nippon India Pharma Fund Nippon India Mutual Fund₹140 Crheld
SBI Contra Fund SBI Mutual Fund₹114 Cr+26.26 L
SBI Healthcare Opportunities Fund SBI Mutual Fund₹72 Cr+4.63 L
Nippon India Innovation Fund Nippon India Mutual Fund₹53 Crheld

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

7 added, 1 trimmed — net +39.54 L shares (+9.5%)

Funds are sitting on
-14%
vs est. average cost
Held by funds
₹1.8k Cr
18 schemes · ≈ 13% of the company
Biggest holder
Nippon India Small Cap Fund
₹534 Cr · 0.7% of that fund
Longest holder
Nippon India Pharma Fund
3y 11m · since Oct '22

Shares held by these funds +2000%

Aug '23 4.15 cr shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹383, this stock must grow earnings at 36% every year for 7 years. Our analysis caps realistic growth at ~-12%. At that growth it is worth ₹30 — downside of 92%.

Growth the price implies
36.3% a year
for 7 years, fading to 4%
It has actually compounded at
-12.0% a year
net profit, FY23–FY26 · EPS -12.1%
The gap
0.5 pp
-92% downside if it only repeats history
Price today ₹382.65 Value at the reference growth ₹30.25

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Syngene International Limited

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