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Syncom Formulation (India) Ltd.
(SYNCOMF)
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Rating:70Outperform
Price Target:
₹21.50
▲(35.39% Upside)
Action:Upgraded
Date:08/29/26
The score is primarily supported by improved profitability and a materially de-risked balance sheet with extremely low leverage. This is tempered by inconsistent historical cash-flow quality and FY2026 revenue/gross-margin softness. Technically the trend is strong, but overbought signals raise near-term risk, while valuation is only moderate with no dividend support.
Positive Factors
Improved Profitability
The sharp improvement in net margin indicates stronger earnings power and provides a more durable base for reinvestment or resilience. Sustained operating profitability of roughly 14–16% further supports the quality of the formulation business.
Negative Factors
Revenue Contraction
A revenue decline after earlier expansion suggests that demand, product volumes, or customer mix may not yet be consistently durable. Continued weakness could limit operating leverage and make recent profitability gains harder to sustain.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Profitability
The sharp improvement in net margin indicates stronger earnings power and provides a more durable base for reinvestment or resilience. Sustained operating profitability of roughly 14–16% further supports the quality of the formulation business.
Read all positive factors
Syncom Formulation (India) Ltd. (SYNCOMF) vs. iShares MSCI India ETF (INDA)
Market Cap
₹18.94B
Dividend Yield0.51%
Average Volume (3M)975.76K
Price to Earnings (P/E)21.2
Beta (1Y)1.47
Revenue Growth0.44%
EPS Growth48.60%
CountryIN
Employees998
SectorGeneral
Sector StrengthN/A
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)0.91
Shares Outstanding940,000,000
10 Day Avg. Volume1,657,015
30 Day Avg. Volume975,759
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 | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.98B | 4.89B | 4.65B | 2.63B | 2.24B | 2.18B |
| Gross Profit | 1.42B | 1.31B | 1.58B | 559.50M | 825.58M | 709.74M |
| EBITDA | 1.08B | 1.09B | 711.74M | 430.28M | 341.47M | 319.59M |
| Net Income | 855.30M | 764.38M | 494.35M | 253.14M | 200.71M | 197.90M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 5.34B | 4.13B | 4.05B | 3.78B | 3.08B |
| Cash, Cash Equivalents and Short-Term Investments | 1.13B | 1.13B | 899.28M | 1.32B | 708.97M | 402.47M |
| Total Debt | 0.00 | 14.94M | 45.84M | 724.87M | 831.82M | 577.91M |
| Total Liabilities | -4.15B | 1.19B | 711.23M | 1.17B | 1.22B | 860.17M |
| Stockholders Equity | 4.15B | 4.15B | 3.42B | 2.88B | 2.56B | 2.22B |
Cash Flow | ||||||
| Free Cash Flow | 461.83M | 452.54M | 134.77M | -140.95M | -101.05M | 50.16M |
| Operating Cash Flow | 560.11M | 569.24M | 234.36M | -59.58M | 105.29M | 163.29M |
| Investing Cash Flow | -524.72M | -506.23M | -182.04M | 830.20M | -449.53M | -270.73M |
| Financing Cash Flow | -39.76M | -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 | ₹15.61B | 34.26 | ― | 1.71% | 3.87% | -25.38% | |
78 Outperform | ₹12.79B | 13.17 | ― | 0.28% | 10.20% | 11.70% | |
70 Outperform | ₹18.94B | 21.16 | ― | 0.51% | 0.44% | 48.60% | |
60 Neutral | ₹11.21B | 61.84 | ― | 0.45% | 12.27% | -62.46% | |
57 Neutral | ₹8.59B | 13.96 | ― | 1.20% | 3.63% | 24.22% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
46 Neutral | ₹21.34B | 876.72 | ― | 0.08% | 12.08% | ― |
* General Sector Average
IN:SYNCOMF
Syncom Formulation (India) Ltd.
19.33
1.32
7.33%
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232.65
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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.