Syncom Formulation (India) Ltd. (IN:SYNCOMF)
:SYNCOMF
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Syncom Formulation (India) Ltd.
(SYNCOMF)
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Rating:69Neutral
Price Target:
₹14.50
▲(3.72% Upside)
Action:DowngradedDate:04/09/26
The score is primarily supported by strong financial performance—rapid revenue growth, improving margins, and a very low-leverage balance sheet—partly offset by only moderate cash conversion. Technicals are mixed (short-term strength but negative MACD and longer-term trend still weak), and valuation appears reasonable at a mid-range P/E without dividend support.
Positive Factors
Revenue Growth
An 86.14% revenue jump indicates meaningful market traction and expanding product adoption. Paired with margin improvements, this revenue momentum reflects strengthening commercial execution and scale benefits that can sustain earnings improvement across the next several quarters.
Negative Factors
Moderate Cash Conversion
Operating cash conversion at 0.47 means reported profits convert to cash only modestly. Persistent working-capital drag (receivables or inventory) can constrain free cash flow, limit capex or payout flexibility, and amplify funding needs if growth continues.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
An 86.14% revenue jump indicates meaningful market traction and expanding product adoption. Paired with margin improvements, this revenue momentum reflects strengthening commercial execution and scale benefits that can sustain earnings improvement across the next several quarters.
Read all positive factors
Syncom Formulation (India) Ltd. (SYNCOMF) vs. iShares MSCI India ETF (INDA)
Market Cap
₹12.77B
Dividend YieldN/A
Average Volume (3M)249.72K
Price to Earnings (P/E)17.7
Beta (1Y)1.55
Revenue Growth56.41%
EPS Growth90.24%
CountryIN
Employees998
SectorServices
Sector StrengthN/A
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)0.20
Shares Outstanding940,000,000
10 Day Avg. Volume232,913
30 Day Avg. Volume249,719
Financial Highlights & Ratios
PEG Ratio0.27
Price to Book (P/B)4.34
Price to Sales (P/S)3.19
P/FCF Ratio110.11
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Syncom Formulation (India) Ltd. Business Overview & Revenue Model
Company Description
Syncom Formulations (India) Limited manufactures, markets, and sells pharmaceutical formulation products in India. It offers various products, including generics, alpha adrenoceptor agonists, analgesics, antipyretics, anti-inflammatory, anti-ulcer...
How the Company Makes Money
Syncom Formulations (India) Ltd. makes money primarily by selling finished pharmaceutical formulations. Revenue is generated through (1) sales of its branded and/or generic formulation products to distributors, wholesalers, hospitals, pharmacies, ...
Syncom Formulation (India) Ltd. Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.15B | 4.65B | 2.63B | 2.24B | 2.18B | 2.39B |
| Gross Profit | 1.70B | 1.58B | 559.50M | 825.58M | 709.74M | 722.43M |
| EBITDA | 819.28M | 711.74M | 430.28M | 341.47M | 319.59M | 450.31M |
| Net Income | 630.52M | 494.35M | 253.14M | 200.71M | 197.90M | 291.72M |
Balance Sheet | ||||||
| Total Assets | 4.56B | 4.13B | 4.05B | 3.78B | 3.08B | 2.92B |
| Cash, Cash Equivalents and Short-Term Investments | 1.45B | 899.28M | 1.32B | 708.97M | 402.47M | 734.51M |
| Total Debt | 6.97M | 45.84M | 724.87M | 831.82M | 577.91M | 620.90M |
| Total Liabilities | 775.88M | 711.23M | 1.17B | 1.22B | 860.17M | 1.04B |
| Stockholders Equity | 3.78B | 3.42B | 2.88B | 2.56B | 2.22B | 1.88B |
Cash Flow | ||||||
| Free Cash Flow | 461.83M | 134.77M | -140.95M | -101.05M | 50.16M | -47.19M |
| Operating Cash Flow | 560.11M | 234.36M | -59.58M | 105.29M | 163.29M | -19.93M |
| Investing Cash Flow | -524.72M | -182.04M | 830.20M | -449.53M | -270.73M | -754.62M |
| Financing Cash Flow | -39.76M | -679.03M | -145.58M | 350.01M | 82.94M | 719.60M |
Syncom Formulation (India) Ltd. Technical Analysis
Positive
13.98
Price Trends
12.60
Positive
13.59
Negative
15.60
Negative
Market Momentum
0.06
Negative
64.50
Neutral
89.81
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SYNCOMF, the sentiment is Positive. The current price of 13.98 is above the 20-day moving average (MA) of 11.87, above the 50-day MA of 12.60, and below the 200-day MA of 15.60, indicating a neutral trend. The MACD of 0.06 indicates Negative momentum. The RSI at 64.50 is Neutral, neither overbought nor oversold. The STOCH value of 89.81 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:SYNCOMF.
Syncom Formulation (India) Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹22.95B | 16.41 | ― | 3.06% | -3.81% | 14.23% | |
69 Neutral | ₹12.77B | 17.72 | ― | ― | 56.41% | 90.24% | |
65 Neutral | ₹10.38B | 280.41 | ― | 0.85% | 8.55% | 20.47% | |
63 Neutral | ₹10.10B | 35.45 | ― | ― | 8.98% | 13.54% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% |
* Services Sector Average
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Syncom Formulation (India) Ltd. Corporate Events
Syncom Formulations Promoters File Annual SEBI SAST Shareholding Disclosure
Apr 6, 2026
Syncom Formulations (India) Ltd. has reported that its promoters, Kedarmal Shankarlal Bankda and Vijay Shankarlal Bankda, along with persons acting in concert, have submitted their annual shareholding disclosure for the financial year ended 31 Mar...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.