Established in 1995, Syncom Formulations is a global pharmaceutical company manufacturing and marketing a broad range of healthcare products. Incorporated in 1988, the company is a generic pharmaceutical player based in Indore, India, operating in more than 15 countries worldwide with over 400 registered products.
The company functions as a comprehensive pharmaceutical manufacturing and marketing entity with a diversified product portfolio. It manufactures and markets more than 500 pharmaceutical formulation products in various dosage forms, including Tablets, Capsules, Liquid Orals, Liquid Vials and Ampoule Injections, Dry Vial Injections, Dry Syrups, Ointments, and Inhalers. Additionally, the company is involved in trading commodities and rental of properties.
Syncom Formulations has demonstrated robust financial performance, especially in recent periods.
* Net Profit: Rose 139.05% to ₹17.69 crore in Q4 FY2025, compared to ₹7.40 crore in Q4 FY2024.
* Sales: Increased by 99.65% to ₹148.88 crore in Q4 FY2025, against ₹74.57 crore in Q4 FY2024.
* Net Profit: Grew 95.30% to ₹49.43 crore in FY2025, compared to ₹25.31 crore in FY2204.
* Sales: Rose 76.55% to ₹465.01 crore in FY2025, against ₹263.39 crore in FY2024.
The company's stock has shown strong performance, delivering a return of 82.59% in the last 1 year. The 52-week high for SYNCOMF is ₹27.90, and the 52-week low is ₹11.99.
* Market Capitalization: ₹1,992.80 crore (as of 10th June 2025)
* Revenue (FY25): ₹463 crore
* Profit (FY25): ₹48.9 crore
* Promoter Holding: 50.6% (no promoter pledging)
* P/E Ratio: 40.30
* P/B Ratio: 6.92
* Annual Revenue Growth: 16% (outstanding)
* Pre-tax Margin: 13% (healthy)
* ROE: 8% (fair, needs improvement)
* Debt Status: Almost debt-free / Debt-free (strong balance sheet)
* Debtor Days Improvement: From 113 to 84.3 days
Syncom Formulations has a comprehensive product range covering multiple therapeutic areas, including:
* Antibiotics/Anti-infectives
* Anthelmintics
* Antimalarial
* Cardiac
* Derma
* Gastro
* Gynae
* Ophthal
* Ortho
* Pediatrics formulations
The company also offers anemia tablets and syrups, lycopene, minerals and vitamins capsules, products for eradication of vaginal pathogens, capsules for the treatment of menopause, herbal uterine tonic, syrup for the treatment of lactation insufficiency, cough suppressants, liver tonic, medicine for burning urination, and nutritional supplements.
Its domestic operations include specialized divisions for market penetration: Cratus Life Care (launched in 2007 for expansion), Cratus Evolve, and Cratus Right Nutrition.
Syncom Formulations maintains a healthy capital structure with minimal debt burden, having significantly reduced its debt. The company is virtually debt-free, possessing a strong balance sheet that enables stable earnings growth across business cycles.
The company has been focusing on expanding its infrastructure and sustainability. In 2020-21, it expanded its business activity by increasing the overall production capacity of Injectable capacity from 200 Lakhs to 300 Lakhs per annum and modernizing the Tablet Department at an overall cost of ₹4031.50 Lakhs, funded by fresh share capital issuance.
Recently, the company installed a 435KWp solar rooftop at its Pithampur plant with a ₹1.30 crore capital expenditure, expected to generate 5.65 lakh units annually.
The company's leadership includes Kedarmal Bankda as Chairman and Vijay Shankarlal Bankda as Managing Director. There is no promoter pledging, indicating management confidence.
Syncom Formulations has shown consistent improvements in operational metrics, with revenue growing for the last 8 quarters (from ₹61.71 crore to ₹155.83 crore, averaging 12.3% per quarter). Net profit has also risen for the last 8 quarters (from ₹4.4 crore to ₹17.69 crore, averaging 17.2% per quarter).
The company exports its pharmaceutical products, alongside various commodities such as agro and confectionery products and industrial products. Strong growth in both export and domestic markets has significantly contributed to its overall performance.
Syncom Formulations (India) Ltd represents a growing pharmaceutical company characterized by strong fundamentals, consistent revenue growth, and a debt-free balance sheet. Its diversified product portfolio across multiple therapeutic areas and expanding international presence position it well for sustained growth in the pharmaceutical sector.
