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

• Market Cap: ₹16.97B
• Dividend Yield: N/A
• Average Volume (3M): 215.47K
• Price to Earnings (P/E): 30.9
• Beta (1Y): 1.40
• Revenue Growth: 70.43%
• EPS Growth: 92.33%
• 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: 188,666
• 30 Day Avg. Volume: 215,467
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: ₹20.00
• Price Target Upside: 12.99% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 62 Neutral
• Price Target: ₹20.00 ▲(12.99% Upside)

Syncom Formulation's strong financial performance is a key strength, driven by robust revenue growth and improved profitability margins. However, technical analysis indicates a bearish trend, and the high P/E ratio suggests overvaluation concerns. The absence of earnings call insights limits clarity on management's forward-looking strategies.

Syncom Formulation (India) Ltd. Business Overview & Revenue Model

Company Description

Syncom Formulation (India) Ltd. is a pharmaceutical company based in India, engaged in the manufacturing and marketing of a wide range of pharmaceutical formulations. The company specializes in various dosage forms including tablets, capsules, liquid syrups, and dry syrups, catering to diverse therapeutic segments. Syncom Formulation focuses on delivering high-quality and affordable healthcare solutions to both domestic and international markets.

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	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	4.82B	2.59B	2.24B	2.18B	2.39B
Gross Profit	1.00B	559.50M	825.58M	709.74M	722.43M
EBITDA	711.74M	430.28M	341.47M	319.59M	450.31M
Net Income	494.35M	253.14M	200.71M	197.90M	291.72M
Balance Sheet
Total Assets	4.13B	4.05B	3.78B	3.08B	2.92B
Cash, Cash Equivalents and Short-Term Investments	934.61M	1.32B	708.97M	416.98M	734.51M
Total Debt	45.84M	724.87M	831.82M	577.91M	620.90M
Total Liabilities	711.23M	1.17B	1.22B	860.17M	1.04B
Stockholders Equity	3.42B	2.88B	2.56B	2.22B	1.88B
Cash Flow
Free Cash Flow	134.77M	-140.95M	-101.05M	50.16M	―
Operating Cash Flow	234.36M	-59.58M	105.29M	163.29M	―
Investing Cash Flow	-182.04M	830.20M	-449.53M	-270.73M	―
Financing Cash Flow	-679.03M	-145.58M	350.01M	82.94M	719.60M

Syncom Formulation (India) Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 17.70
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 17.7 is below the 20-day moving average (MA) of 18.34, below the 50-day MA of 19.35, and below the 200-day MA of 18.77, indicating a bearish trend. The MACD of -0.29 indicates Negative momentum. The RSI at 46.74 is Neutral, neither overbought nor oversold. The STOCH value of 45.74 is Neutral, 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
Sector *	66 Neutral	€3.99B	17.04	-2.44%	3.90%	1.88%	-16.39%
UDS	63 Neutral	₹17.33B	14.20		―	10.48%	48.66%
SYNCOMF	62 Neutral	₹16.97B	30.90		―	70.43%	92.33%
UNIPARTS	61 Neutral	₹17.20B	17.51		3.74%	-15.43%	-29.49%
GRPLTD	56 Neutral	₹10.74B	38.26		0.68%	12.24%	12.17%