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Syncom Formulation (India) Ltd.
(SYNCOMF)
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Rating:73Outperform
Price Target:
₹14.50
▲(9.19% Upside)
Action:Reiterated
Date:05/26/26
The score is driven primarily by improved FY2026 profitability and a sharply strengthened, low-debt balance sheet. Technicals are supportive with price above major moving averages and a positive MACD, but an overbought RSI raises near-term risk. Valuation is moderate on P/E, with no dividend data to add support.
Positive Factors
Balance Sheet De-risking
A dramatic reduction in debt and very low leverage materially improves financial flexibility. This lowers interest burden, increases capacity for reinvestment or acquisitions, and makes the company more resilient to industry cyclicality over the next several quarters.
Negative Factors
Revenue Decline
A drop in revenue after prior scale-up raises questions about sustainable demand, customer retention, or loss of volumes. Persistent or recurring revenue declines would constrain the company's ability to leverage fixed costs and sustain recent margin gains.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet De-risking
A dramatic reduction in debt and very low leverage materially improves financial flexibility. This lowers interest burden, increases capacity for reinvestment or acquisitions, and makes the company more resilient to industry cyclicality over the next several quarters.
Read all positive factors
Syncom Formulation (India) Ltd. (SYNCOMF) vs. iShares MSCI India ETF (INDA)
Market Cap
₹12.35B
Dividend YieldN/A
Average Volume (3M)249.72K
Price to Earnings (P/E)15.3
Beta (1Y)1.55
Revenue Growth4.98%
EPS Growth55.05%
CountryIN
Employees998
SectorGeneral
Sector StrengthN/A
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)0.86
Shares Outstanding940,000,000
10 Day Avg. Volume232,913
30 Day Avg. Volume249,719
Financial Highlights & Ratios
PEG Ratio0.30
Price to Book (P/B)2.34
Price to Sales (P/S)1.99
P/FCF Ratio21.48
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
Established in 1985 and based in Indore, India, Syncom Formulations (India) Limited specializes in the development, marketing, and sale of a wide array of finished pharmaceutical products. The company provides an extensive portfolio addressing num...
How the Company Makes Money
Syncom Formulations (India) Ltd. primarily makes money by selling pharmaceutical formulations and related healthcare products. Its revenue model is typically a mix of (1) sales of finished dosage forms marketed under its own brands through distrib...
Syncom Formulation (India) Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
88
Very Positive
Cash Flow
60
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.89B | 4.65B | 2.63B | 2.24B | 2.18B |
| Gross Profit | 1.31B | 1.58B | 559.50M | 825.58M | 709.74M |
| EBITDA | 1.09B | 711.74M | 430.28M | 341.47M | 319.59M |
| Net Income | 764.38M | 494.35M | 253.14M | 200.71M | 197.90M |
Balance Sheet | |||||
| Total Assets | 5.34B | 4.13B | 4.05B | 3.78B | 3.08B |
| Cash, Cash Equivalents and Short-Term Investments | 1.13B | 899.28M | 1.32B | 708.97M | 402.47M |
| Total Debt | 14.74M | 45.84M | 724.87M | 831.82M | 577.91M |
| Total Liabilities | 1.19B | 711.23M | 1.17B | 1.22B | 860.17M |
| Stockholders Equity | 4.15B | 3.42B | 2.88B | 2.56B | 2.22B |
Cash Flow | |||||
| Free Cash Flow | 452.54M | 134.77M | -140.95M | -101.05M | 50.16M |
| Operating Cash Flow | 569.24M | 234.36M | -59.58M | 105.29M | 163.29M |
| Investing Cash Flow | -506.23M | -182.04M | 830.20M | -449.53M | -270.73M |
| Financing Cash Flow | -18.66M | -679.03M | -145.58M | 350.01M | 82.94M |
Syncom Formulation (India) Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹15.17B | 33.94 | ― | 1.24% | 3.87% | -26.02% | |
73 Outperform | ₹12.35B | 15.26 | ― | ― | 4.98% | 55.05% | |
73 Outperform | ₹11.60B | 13.15 | ― | 0.31% | 7.67% | 6.74% | |
57 Neutral | ₹10.27B | 14.33 | ― | ― | 8.79% | 120.02% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | ₹11.33B | 62.42 | ― | 0.24% | 12.27% | -62.46% | |
39 Underperform | ₹20.27B | 756.86 | ― | 0.08% | 12.08% | ― |
* General Sector Average
IN:SYNCOMF
Syncom Formulation (India) Ltd.
13.19
-4.69
-26.23%
IN:BAJAJHCARE
Bajaj Healthcare Ltd
329.50
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-26.74%
IN:INDOCO
Indoco Remedies Limited
221.85
-61.50
-21.70%
IN:JAGSNPHARM
Jagsonpal Pharmaceuticals Ltd.
237.60
-27.56
-10.39%
IN:LINCOLN
Lincoln Pharmaceuticals Ltd
609.50
7.34
1.22%
IN:WANBURY
Wanbury Limited
273.95
18.15
7.10%
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.