Syngene International Ltd. (SYNGENE) AI Stock Analysis

Syngene International Ltd.

(NSE:SYNGENE)

Select Model

Rating:56Neutral

Price Target:INR 424.00▲(5.32% Upside)

Action:reiterated

Date:10/29/26

The score is primarily held back by expensive valuation (very high P/E with minimal yield) and a weakening latest-year operating/cash-flow picture (FY2026 revenue and earnings decline with volatile free cash flow). These risks are partly offset by a strong balance sheet with low leverage and moderately constructive near-term technical momentum.

Positive Factors

Integrated CRDMO platformSyngene’s end-to-end CRDMO platform can capture more value as customer programs progress from discovery into development and manufacturing. This integrated model supports broader customer relationships, increases opportunities per program, and may encourage longer-duration outsourcing engagements.

Negative Factors

Recent revenue contractionThe sharp FY2026 revenue decline interrupts Syngene’s prior multi-year growth trajectory and indicates that customer activity, project progression, or manufacturing volumes weakened materially. If this contraction persists, it could reduce utilization, limit operating leverage, and make future growth more dependent on new program wins.

Syngene International Ltd. (SYNGENE) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 148.36B
Dividend Yield: 0.31%
Average Volume (3M): 149.79K
Price to Earnings (P/E): 87.0
Beta (1Y): 0.98
Revenue Growth: -5.99%
EPS Growth: -60.30%
Country: India
Employees: 6,692
Sector: General
Sector Strength: 55
Industry: Specialty Business Services

Syngene International Ltd. Business Overview & Revenue Model

Company Description

Syngene International Limited, an India-based contract research and manufacturing organization (CRAMO), offers a wide array of drug discovery and development solutions to clients across India, the United States, and other international markets. The c...

How the Company Makes Money

Syngene makes money primarily by providing outsourced research, development, and manufacturing services to other companies under contract. Its revenue model is largely business-to-business and service-led, with earnings driven by (1) contract researc...

Syngene International Ltd. Financial Statement Overview

Summary

Historically steady revenue growth and healthy margins through FY2025 plus a strong, low-leverage balance sheet support quality. However, FY2026 shows a sharp revenue drop (~21.6% YoY), materially lower net income, and highly volatile/free-cash-flow deterioration, which meaningfully weakens near-term fundamentals.

Income Statement

62Positive

Balance Sheet

80Positive

Cash Flow

58Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	36.00B	37.39B	36.42B	34.89B	31.93B	26.04B
Gross Profit	11.70B	12.62B	24.41B	23.50B	21.56B	17.12B
EBITDA	8.29B	9.13B	10.47B	10.73B	9.84B	7.43B
Net Income	2.21B	3.17B	4.96B	5.10B	4.64B	3.96B
Balance Sheet
Total Assets	67.45B	70.55B	67.96B	61.52B	58.31B	55.64B
Cash, Cash Equivalents and Short-Term Investments	12.19B	12.89B	13.97B	10.77B	13.54B	12.81B
Total Debt	4.73B	4.58B	5.78B	5.55B	8.15B	10.22B
Total Liabilities	18.79B	22.16B	20.69B	18.94B	22.13B	22.66B
Stockholders Equity	48.66B	48.39B	47.27B	42.58B	36.18B	32.98B
Cash Flow
Free Cash Flow	-2.00B	6.11B	3.98B	5.50B	3.05B	1.05B
Operating Cash Flow	-451.00M	9.55B	11.68B	10.42B	8.38B	5.81B
Investing Cash Flow	764.00M	-9.11B	-7.45B	-4.96B	-6.88B	-6.12B
Financing Cash Flow	-821.00M	-2.04B	-1.42B	-5.51B	-3.40B	-313.00M

Syngene International Ltd. Technical Analysis

Technical Analysis SentimentPositive

Last Price402.60

Price Trends

50DMA383.57Positive

100DMA402.60Negative

200DMA429.90Negative

Market Momentum

MACD3.53Negative

RSI58.46Neutral

STOCH75.93Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SYNGENE, the sentiment is Positive. The current price of 402.60 is above the 20-day moving average (MA) of 374.93, above the 50-day MA of 383.57, and below the 200-day MA of 429.90, indicating a neutral trend. The MACD of 3.53 indicates Negative momentum. The RSI at 58.46 is Neutral, neither overbought nor oversold. The STOCH value of 75.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:SYNGENE.

Syngene International Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:SYNGENE against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:ANTHEM	77Outperform	INR 466.85B	80.86	―	0.24%	―	―
IN:CONCORDBIO	67Neutral	INR 130.28B	46.20	―	0.61%	4.02%	-12.81%
IN:DCAL	56Neutral	INR 22.76B	33.34	―	―	-20.86%	-34.51%
IN:SYNGENE	56Neutral	INR 162.52B	86.98	―	0.31%	-5.99%	-60.30%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:BIOCON	49Neutral	INR 573.10B	103.47	―	0.14%	9.83%	5.07%
IN:PANACEABIO	47Neutral	INR 19.17B	-270.04	―	―	10.26%	-162.02%

* General Sector Average

Performance Comparison

IN:SYNGENE and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:SYNGENE	Syngene International Ltd.	402.60	-253.29	-38.62%
IN:BIOCON	Biocon Limited	352.00	-24.75	-6.57%
IN:CONCORDBIO	Concord Biotech Ltd.	1245.30	-214.11	-14.67%
IN:DCAL	Dishman Carbogen Amcis Ltd.	145.15	-146.50	-50.23%
IN:PANACEABIO	Panacea Biotec Limited	312.95	-119.10	-27.57%
IN:ANTHEM	Anthem Biosciences Limited	828.45	127.63	18.21%

Syngene International Ltd. Corporate Events

Syngene posts Q2 FY27 earnings call audio for investors

Oct 28, 2026

Syngene International Limited has notified the Indian stock exchanges that the audio recording of its Q2 FY27 post-earnings call held on October 28, 2026 has been uploaded to the company’s website. The disclosure has been made under Regulation...

Syngene Publishes Investor Presentation for September 2026 Period

Oct 27, 2026

Syngene International Ltd. has released an investor presentation for the quarter and half year ended September 30, 2026, in line with Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements Regulations, 2015. The document, inten...

Syngene Announces Resignation of Corporate Affairs Head

Sep 21, 2026

Syngene International Ltd. has announced the resignation of Mr. Pramuch Goel, Head of Corporate Affairs & Communications and a member of the Executive Committee, effective at the close of business on September 21, 2026. The company has notified t...

Syngene Schedules Analyst Meet at Kotak Healthcare Forum 2026

Sep 12, 2026

Syngene International Ltd. has scheduled a meeting with analysts and institutional investors at the Healthcare Forum 2026 organized by Kotak in Mumbai on September 17, 2026. The engagement will take place as a physical group and one-on-one investor c...

Syngene Grants 1.43 Million Performance Share Units Under 2023 Long-Term Incentive Plan

Sep 1, 2026

Syngene International has granted 1,426,061 Performance Share Units (PSUs) to eligible employees under its Long Term Incentive Performance Share Plan 2023, following approval by the company’s Nomination and Remuneration Committee. The grant, al...

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.

Date of analysis: Oct 29, 2026

Syngene International Ltd. AI Stock Analysis