MarketFriction

Syncom Formulations (India) Ltd

NSE SYNCOMF · BSE 524470 · Pharmaceuticals
₹23.96 -4.47%
NSE close2026-10-01
52 week range10.21 - 27.49
Market cap₹2,461 Cr.
P/E29.0
ASM short-term Price band 20% Delivery 24.2%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales62637387101127148117121115134125
Expenses56576476901121311011039311399
Operating Profit679101215171619212126
OPM %10%11%12%12%12%11%12%14%15%18%16%21%
Other Income4431447655148
Interest111000000000
Depreciation111111111122
Profit before tax899101517232022253332
Tax %24%25%27%24%25%24%24%22%25%25%25%23%
Net Profit66781113181617192525
EPS in Rs0.070.070.070.080.120.140.190.170.180.200.260.26
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales184185159187206245216222257461486495
Expenses167168147175189207196202229407409407
Operating Profit171612121738202028547787
OPM %9%9%7%6%8%16%9%9%11%12%16%18%
Other Income334557121513173133
Interest000010235111
Depreciation334444455577
Profit before tax16161213174126273265101112
Tax %36%33%28%12%18%28%24%24%26%24%24%
Net Profit10119111429202024497685
EPS in Rs0.130.140.110.140.180.370.230.210.250.520.810.90
Dividend Payout %15%15%0%0%0%0%13%0%0%0%12%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth10%15%30%0%
Compounded Profit Growth20%18%49%49%
Stock Price CAGR27%30%46%61%
Return on Equity12%13%14%18%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital787878787878798694949494
Reserves223136445568109136162192246318
Borrowings661212926258837241
Other Liabilities3161483732334228383366116
Total Liabilities138175175171173181292308377392410529
Fixed Assets464685898993919491120125184
CWIP0501000626000
Investments62312211143646693109
Other Assets8510189798387189165196206192237
Total Assets138175175171173181292308377392410529
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity02417-246-21610-62358
Cash from Investing Activity1-23-8-222-75-27-4584-18-51
Cash from Financing Activity1-2-2-2-0-772835-15-68-3
Net Cash Flow2-16-671-5-2163-634
Free Cash Flow-3169-8104-55-10-141347
CFO/OP32%176%128%13%66%61%24%113%86%6%70%105%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days6691918781771121141241328581
Inventory Days344329373739515153494981
Days Payable6313092755749663652335296
Cash Conversion Cycle37427496167961291241488166
Working Capital Days8440457574882833-4519585
ROCE %16%15%14%9%9%12%21%11%10%10%19%25%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters50.57%50.57%50.57%50.57%50.57%50.57%50.57%50.57%50.57%50.57%50.57%50.57%
FIIs0.00%0.00%0.08%0.09%0.10%0.13%0.11%0.41%0.10%0.26%0.21%0.35%
Public49.44%49.44%49.35%49.34%49.34%49.30%49.32%49.02%49.33%49.17%49.23%49.07%
No. of Shareholders2,24,2522,89,9823,25,7613,76,5304,69,2424,89,5204,84,5294,71,0664,57,3644,42,2804,31,6904,22,114

Fundamentals

Market Cap₹ 2,461 Cr.
Current Price₹ 26.2
Stock P/E29.0
Book Value₹ 4.39
ROCE24.8 %
ROE17.6 %
Dividend Yield0.38 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)0%
Compounded Profit Growth (TTM)49%
Standalone figures.
Valuation
Market capRs 2,252 Cr
Enterprise valueRs 2,248 Cr
P/E (TTM)26.54x
Price to book5.46x
Price to sales4.55x
EV / EBITDA18.73x
EV / EBIT19.84x
EV / sales4.54x
Price to cash flow38.64x
Earnings yield3.77%
Dividend yield0.42%
P/E, 3-year average29.59x
P/B, 3-year average3.52x
P/E, 5-year average32.55x
P/B, 5-year average3.37x
Profitability
Operating margin (excl. other income)15.88%
Operating margin (incl. other income)22.26%
EBITDA margin24.26%
Pre-tax margin22.68%
Net profit margin17.15%
Net margin, latest quarter19.73%
ROE20.21%
ROCE26.86%
ROA16.19%
ROE, 3-year average14.84%
ROCE, 3-year average18.68%
ROA, 3-year average11.51%
ROE, 5-year average12.51%
ROCE, 5-year average15.26%
ROA, 5-year average9.40%
ROIC (approx.)21.00%
Tax rate24.38%
Other income / net worth7.52%
Growth
Sales growth (latest year)5.51%
Profit growth (latest year)55.54%
Sales CAGR, 3 years29.85%
Sales CAGR, 5 years14.69%
Profit CAGR, 3 years55.87%
Profit CAGR, 5 years21.11%
Sales growth QoQ-6.97%
Profit growth QoQ0.08%
Sales growth YoY (latest quarter)6.96%
Profit growth YoY (latest quarter)56.33%
Per share
EPS (TTM)Rs 0.90
EPS (latest year)Rs 0.81
EPS (latest quarter)Rs 0.26
EPS, 3-year averageRs 0.53
EPS, 5-year averageRs 0.40
Book value per shareRs 4.39
Sales per shareRs 5.26
Cash flow per shareRs 0.62
Free cash flow per shareRs 0.50
Dividend per share (latest year)Rs 0.10
Dividend per share, 3-year averageRs 0.10
Dividend per share, 5-year averageRs 0.07
Dividends
Dividend payout12.37%
Dividend payout, 3-year average12.37%
Dividend payout, 5-year average12.73%
Efficiency
Asset turnover0.92x
Fixed asset turnover2.65x
Inventory turnover4.68x
Inventory days78 days
Debtor days81 days
Debtors turnover4.52x
Creditor days96 days
Cash conversion cycle66 days
Working capital days85 days
Leverage
Total debtRs 1 Cr
Cash and bankRs 5 Cr
Net debtRs -4 Cr
Debt to equity0.00x
Net debt / EBITDA-0.04x
Interest coverage102.98x
Current ratio (filing 2026-03-31)3.20x
Quick ratio (filing 2026-03-31)2.58x
Trade payables (filing 2026-03-31)Rs 74 Cr
Owners' fund to total sources77.90%
Debt to assets0.13%
Cash flow
Cash from Operating Activity (latest year)Rs 58 Cr
Cash from Investing Activity (latest year)Rs -51 Cr
Cash from Financing Activity (latest year)Rs -3 Cr
Net Cash Flow (latest year)Rs 4 Cr
Free cash flow (latest year)Rs 47 Cr
FCFE (approx.: FCF + change in debt)Rs 44 Cr
Cash from ops / profit, 5 years0.53x
Sales to cash flow8.34x
Statement figures
Net sales (TTM)Rs 495 Cr
Net sales (latest year)Rs 486 Cr
Sales (latest quarter)Rs 125 Cr
Operating profit excl. other income (latest year)Rs 77 Cr
Operating profit (latest quarter)Rs 26 Cr
Other income (TTM)Rs 33 Cr
EBITDA (TTM)Rs 120 Cr
PBDT (TTM)Rs 119 Cr
Profit before tax (TTM)Rs 112 Cr
Tax (latest year)Rs 25 Cr
Net profit (TTM)Rs 85 Cr
Net profit (latest year)Rs 76 Cr
Net profit (latest quarter)Rs 25 Cr
Depreciation (TTM)Rs 7 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 294 Cr
Total expenditure (latest year)Rs 409 Cr
Total income (latest year)Rs 517 Cr
Share capitalRs 94 Cr
ReservesRs 318 Cr
Shareholders' fundsRs 412 Cr
Total assetsRs 529 Cr
Net blockRs 184 Cr
InvestmentsRs 109 Cr
ReceivablesRs 108 Cr
InventoryRs 63 Cr
Other liabilitiesRs 116 Cr
Shares outstanding (crore)94.00
Ownership
Promoter holding50.57% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 26.5 is at the 53th percentile of its own 9.4-year range (median 22.5, low 5.2, high 86.8).
P/B 5.46 is at the 88th percentile (median 3.16).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodSYNCOMFNifty 50Difference
1 week+19.6%-2.8% +22.4 pts
1 month+19.4%-6.8% +26.2 pts
3 months+68.3%-7.6% +75.9 pts
6 months+132.6%+0.4% +132.2 pts
1 year+41.1%-9.9% +51.0 pts
2 years+8.6%-13.6% +22.1 pts
3 years+185.2%+14.2% +171.1 pts
5 years+240.3%+27.9% +212.4 pts
1 mutual fund schemes hold about ₹0 Cr. Over three months 0 bought more and 1 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Bandhan BSE Healthcare Index Fund0.06%0 -22%

Red flags

F-score 6 of 8
lookInventory outrunning sales Inventory grew 52% vs sales +6% in 2026
lookAuditor change Auditor change 2026-08-11: Syncom Formulations (India) Limited has informed the Exchange regarding Change in Auditors of the company.
lookOn NSE surveillance On NSE surveillance: ASM short-term
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹125 Cr +6.8% vs Jun 2025. Net profit ₹25 Cr +56.2%.

Activity

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2026-09-30Qe Securities LlpSELL5,408,12825.51
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2026-09-29Qe Securities LlpSELL10,933,48724.62
2026-09-29Qe Securities LlpBUY10,708,52324.73
2026-09-29Microcurves Trading Private LimitedSELL7,584,94424.97
2026-09-29Microcurves Trading Private LimitedBUY7,584,94424.94
2026-09-29Junomoneta Finsol Private LimitedSELL11,784,12024.86
2026-09-29Junomoneta Finsol Private LimitedBUY11,784,12024.84
2026-09-29Imc India Securities Private LimitedSELL5,107,66624.66
2026-09-29Imc India Securities Private LimitedBUY5,140,34324.86
2026-09-29Hrti Private LimitedSELL4,814,80324.55
2026-09-29Hrti Private LimitedBUY4,593,15624.70
2026-09-29Alphagrep Securities Private LimitedSELL11,377,91224.64
2026-09-29Alphagrep Securities Private LimitedBUY11,377,91224.54
Ex-dateActionFactor
2026-09-23Dividend - Re 0.10 Per Share
2024-09-23Annual General Meeting
2023-09-18Annual General Meeting
DateTypeWhat it says
2026-10-01General UpdatesGeneral Updates
2026-10-01Change in ManagementChange in Management
2026-10-01General UpdatesGeneral Updates
2026-10-01Shareholder meetingVoting results.
2026-10-01Shareholder meetingProceedings of Annual General Meeting held on September 30, 2026
2026-09-30General UpdatesGeneral Updates
2026-09-26General UpdatesGeneral Updates
2026-09-18Record DateRecord date for the purpose of Dividend & Meeting is 23-Sep-2026.
2026-09-07General UpdatesGeneral Updates
2026-09-07General UpdatesGeneral Updates
2026-09-07Shareholder meetingShareholders meeting
2026-08-13General UpdatesGeneral Updates
2026-08-13Disclosure of material issueSyncom Formulations (India) Limited has informed regarding Disclosure of material issue
2026-08-13Disclosure of material issueSyncom Formulations (India) Limited has informed regarding Disclosure of material issue
2026-08-11ResignationResignation of Director/KMP/SMP
2026-08-11Change in ManagementChange in Management
2026-08-11General UpdatesGeneral Updates
2026-08-11Change in AuditorsChange in Auditors of the company.
2026-08-11Board meeting outcomeRegulation 33(3) of SEBI (LODR) Regulations, 2015- Submission of the Un-Audited Standalone and Consolidated Financial Results along with Limited Revie...
2026-08-11Record DateRecord date for the purpose of Dividend & Meeting is 23-Sep-2026.
2026-08-11DividendBoard of Directors at its meeting held on August 11, 2026, recommended Final Dividend of Rs. 0.10 per equity share.
2026-08-11Board meeting outcomeOutcome of the 2/2026-27 Meeting of the Board of Directors of the Company held on Tuesday, 11th August 2026 pursuant to Regulation 30 read with Schedu...
2026-08-08Disclosure of material issueIntimation for resignation of Mr. Vijay Shankarlal Bankda Managing Director- Disclosure under Regulation 30 of SEBI (Listing Obligations & Disclosure ...
2026-08-08Disclosure of material issueIntimation for resignation of Mr. Rahul Vijay Bankda Chief Financial Officer (CFO)- under Regulation 30 of SEBI (Listing Obligations & Disclosure Requ...
2026-08-08Disclosure of material issueIntimation for resignation of Mr. Kedarmal Shankarlal Bankda Whole-Time Director- under Regulation 30 of SEBI (Listing Obligations & Disclosure Requir...
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Short Term Additional Surveillance Measure (Short Term ASM): stage 1
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03