Syncom Formulation (India) Ltd. (SYNCOMF) AI Stock Analysis

• Market Cap: ₹15.71B
• Dividend Yield: N/A
• Average Volume (3M): 206.57K
• Price to Earnings (P/E): 27.3
• Beta (1Y): 1.48
• Revenue Growth: 70.43%
• EPS Growth: 101.61%
• Country: IN
• Employees: 998
• Sector: Services
• Sector Strength: N/A
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): 0.17
• Shares Outstanding: 940,000,000
• 10 Day Avg. Volume: 272,133
• 30 Day Avg. Volume: 206,571
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹19.50
• Price Target Upside: 16.70% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 70 Outperform
• Price Target: ₹19.50 ▲(16.70% Upside)

Syncom Formulation's overall stock score reflects its strong financial performance and stable balance sheet. However, the neutral technical indicators and moderate valuation suggest limited immediate upside potential. The absence of earnings call data and corporate events does not impact the score.

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 agents, antibiotics, antidepressants, antifungals, antihistamines, antimalarial, antiplatelet agents, antiprotozoal, antivirals, bronchodilators, calcium antagonists, cardiac medicines, central nervous stimulants, cephelo sporins, cortico steroids, estrogen, cough suppressants, erectile dysfunction, and electrolite. The company also provides histamines, homeostatic, hypoglycemic, hypolipidaemics, local anesthetics, multivitamins and nutritional supplements, sedative anticonvulsants, stimulants, and sympathomimetic products, as well as products used in the treatment of gout. In addition, it engages in the trading of commodities and renting of properties. Further, the company exports its products. It offers its pharmaceutical formulations products in various dosage forms, such as tablets, capsules, liquids orals, liquid vials, ampoule injections and dry vial injections, dry syrups, ointments, inhalers, and herbals. Syncom Formulations (India) Limited was founded in 1985 and is based in Indore, India.

How the Company Makes Money

Syncom Formulation (India) Ltd. generates revenue primarily through the manufacturing and sale of pharmaceutical products. The company's key revenue streams include the domestic sale of its pharmaceutical formulations in India and exports to international markets, which broadens its market reach and increases sales potential. Additionally, Syncom Formulation may engage in contract manufacturing for other pharmaceutical companies, providing them with production capacity for their products. The company's financial performance is influenced by factors such as its product portfolio, market demand, regulatory approvals, and its ability to maintain competitive pricing.

Syncom Formulation (India) Ltd. Financial Statement Overview

Summary

Syncom Formulation demonstrates robust financial performance with significant revenue growth, strong profitability margins, and a solid balance sheet. The company shows low leverage and efficient use of shareholder funds. While cash flow has had volatility, recent improvements indicate positive momentum.

Income Statement

Syncom Formulation has demonstrated impressive revenue growth with a 86.14% increase from 2024 to 2025, alongside strong profitability metrics. The gross profit margin is robust at 20.80% for 2025, while the net profit margin has improved to 10.25%, indicating enhanced operational efficiency. EBIT and EBITDA margins of 10.14% and 14.75%, respectively, underscore healthy earnings before interest and taxes. Overall, the company exhibits solid revenue expansion and margin improvement.

Balance Sheet

The balance sheet shows a strong equity position with an equity ratio of 82.77% in 2025, reflecting financial stability and low leverage. The debt-to-equity ratio of 0.01 indicates limited reliance on debt financing, reducing financial risk. Additionally, the return on equity has improved to 14.45%, showcasing efficient use of shareholder funds. The overall balance sheet is robust, with strengths in equity and low debt levels.

Cash Flow

Syncom Formulation's cash flow performance has improved significantly, with a notable recovery in free cash flow to 134.77 million in 2025 from a negative position in 2024. The operating cash flow to net income ratio stands at 0.47, indicating a moderate conversion of income to cash. Despite past fluctuations, the cash flow trajectory is positive, showing potential for sustained cash generation.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.66B	4.65B	2.59B	2.24B	2.18B	2.00B
Gross Profit	1.48B	1.00B	559.50M	825.58M	709.74M	428.27M
EBITDA	644.96M	711.74M	430.28M	341.47M	319.59M	218.77M
Net Income	494.37M	494.35M	253.14M	200.71M	197.90M	142.53M
Balance Sheet
Total Assets	4.13B	4.13B	4.05B	3.78B	3.08B	1.81B
Cash, Cash Equivalents and Short-Term Investments	899.28M	934.61M	1.32B	708.97M	416.98M	84.53M
Total Debt	45.84M	45.84M	724.87M	831.82M	577.91M	21.48M
Total Liabilities	711.23M	711.23M	1.17B	1.22B	860.17M	348.73M
Stockholders Equity	3.42B	3.42B	2.88B	2.56B	2.22B	1.46B
Cash Flow
Free Cash Flow	0.00	134.77M	-140.95M	-101.05M	50.16M	-22.54M
Operating Cash Flow	0.00	234.36M	-59.58M	105.29M	163.29M	-5.06M
Investing Cash Flow	0.00	-182.04M	830.20M	-449.53M	-270.73M	13.53M
Financing Cash Flow	0.00	-679.03M	-145.58M	350.01M	82.94M	113.48K

Syncom Formulation (India) Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 16.71
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SYNCOMF, the sentiment is Negative. The current price of 16.71 is below the 20-day moving average (MA) of 17.42, below the 50-day MA of 17.68, and below the 200-day MA of 18.28, indicating a bearish trend. The MACD of -0.12 indicates Positive momentum. The RSI at 34.10 is Neutral, neither overbought nor oversold. The STOCH value of 6.08 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SYNCOMF.

Syncom Formulation (India) Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
UDS	72 Outperform	₹16.35B	13.40	12.40%	―	10.48%	48.66%
SYNCOMF	70 Outperform	₹15.71B	27.29	―	―	70.43%	101.61%
UNIPARTS	68 Neutral	₹18.28B	18.61	9.92%	3.89%	-11.58%	-13.87%
GRPLTD	65 Neutral	₹11.52B	41.04	16.02%	0.67%	12.24%	12.17%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%

Syncom Formulation (India) Ltd. Corporate Events

Syncom Formulations Announces 37th AGM and Key Appointments

Syncom Formulations (India) Limited has announced its 37th Annual General Meeting (AGM) scheduled for September 29, 2025, to be held via video conferencing. Key agenda items include the adoption of financial statements for the year ending March 31, 2025, ratification of the remuneration for cost auditors, and the appointment of secretarial auditors for a five-year term. Additionally, the appointment of Shri Ankit Kedarmal Bankda as an Executive Promoter Director is to be confirmed. These decisions are expected to impact the company’s governance and operational strategies, ensuring compliance and strategic leadership continuity.

Syncom Formulations Announces Strategic Amendments to AOA and MOA

Syncom Formulations (India) Ltd. has announced amendments to its Articles of Association (AOA) and Memorandum of Association (MOA), subject to shareholder approval at the upcoming Annual General Meeting. These changes include new clauses related to power purchase agreements and project definitions, indicating a strategic shift towards renewable energy initiatives. This move could potentially enhance the company’s operational scope and align its business model with sustainable energy practices, impacting its industry positioning and stakeholder interests.