SYNCOMF

Syncom Formulations (India) Limited

Pharmaceutical drugs and formulations, commodity trading and property rental business

Healthcare›Healthcare›Pharmaceuticals & Biotechnology›Pharmaceuticals

syncomformulations.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹21.95
Market cap
2,063 Cr
Stock P/E
24.1
P/B
4.97
Dividend yield
0.1%
ROE (FY26)
18.4%
ROCE (FY26)
24.6%
Operating margin (FY26)
14.5%
Debt / equity (FY26)
0.0036
OCF / EBITDA (FY26)
75.0%
OCF / EBITDA (3Y)
46.9%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Syncom Formulations makes finished pharmaceutical medicines (formulations) at its works in Pithampur.

Company snapshot

78thBy market cap

Ranked among 119 companies in Pharmaceuticals.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 100.5% of revenue

SegmentRevenue shareRevenuePBTAssets
PHARMACEUTICALS DRUGS AND FORMULATIONS
100.5%
318 Cr40 Cr—
RENTING OF PROPERTY
0.9%
3 Cr3 Cr—
TRADING OF COMMODITIES
1.9%
6 Cr0.16 Cr—

Shares add up to 103% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓Net margin of 15.6% — the business keeps a healthy share of every rupee it earns.
Concerns
  • ✗Only 47% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.
3 more signals from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales64 Cr65 Cr75 Cr87 Cr102 Cr128 Cr149 Cr117 Cr122 Cr115 Cr135 Cr126 Cr
Operating expenses (approx.)57 Cr58 Cr65 Cr77 Cr90 Cr113 Cr131 Cr101 Cr103 Cr94 Cr113 Cr99 Cr
EBITDA6 Cr7 Cr9 Cr10 Cr12 Cr15 Cr18 Cr16 Cr18 Cr21 Cr22 Cr26 Cr
OPM %10.0%11.3%12.6%12.0%11.9%11.6%11.9%13.5%15.1%18.4%16.3%20.9%
Other income4 Cr5 Cr3 Cr1 Cr4 Cr4 Cr7 Cr6 Cr5 Cr6 Cr15 Cr8 Cr
Interest1 Cr1 Cr1 Cr0.39 Cr0.16 Cr0.20 Cr0.12 Cr0.25 Cr0.26 Cr0.26 Cr0.38 Cr0.24 Cr
Depreciation0.88 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr2 Cr2 Cr
Profit before tax8 Cr9 Cr10 Cr10 Cr15 Cr17 Cr23 Cr20 Cr22 Cr25 Cr34 Cr32 Cr
Tax %22.9%25.2%26.2%24.4%25.2%24.7%24.1%22.4%24.7%24.6%25.3%23.0%
Net profit7 Cr7 Cr7 Cr8 Cr11 Cr13 Cr18 Cr16 Cr17 Cr19 Cr25 Cr25 Cr
EPS (₹)₹0.08₹0.09₹0.10₹0.11₹0.16₹0.14₹0.16₹0.21₹0.18₹0.23₹0.27₹0.26

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2023Mar 2024Mar 2025Mar 2026TTM
Sales224 Cr263 Cr465 Cr489 CrSign in free for the trailing twelve months
Operating expenses (approx.)205 Cr234 Cr411 Cr412 CrSign in free for the trailing twelve months
EBITDA20 Cr30 Cr54 Cr77 CrSign in free for the trailing twelve months
OPM %8.8%11.3%11.6%15.8%Sign in free for the trailing twelve months
Other income15 Cr14 Cr17 Cr31 CrSign in free for the trailing twelve months
Interest3 Cr4 Cr0.86 Cr1 CrSign in free for the trailing twelve months
Depreciation5 Cr5 Cr5 Cr7 CrSign in free for the trailing twelve months
Profit before tax27 Cr34 Cr66 Cr101 CrSign in free for the trailing twelve months
Tax %24.5%25.4%24.5%24.4%Sign in free for the trailing twelve months
Net profit20 Cr25 Cr49 Cr76 CrSign in free for the trailing twelve months
EPS (₹)₹0.24₹0.34₹0.57₹0.81Sign in free for the trailing twelve months
Dividend payout %14.1%0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2023Mar 2024Mar 2025Mar 2026
Equity capital94 Cr94 Cr94 Cr94 Cr
Reserves162 Cr194 Cr248 Cr321 Cr
Borrowings83 Cr72 Cr5 Cr1 Cr
Other liabilities39 Cr44 Cr67 Cr117 Cr
Total liabilities378 Cr405 Cr413 Cr534 Cr
Fixed assets (net)43 Cr72 Cr78 Cr90 Cr
CWIP26 Cr0 Cr0 Cr0 Cr
Investments111 Cr114 Cr140 Cr202 Cr
Loans & advances3 Cr4 Cr5 Cr7 Cr
Inventories21 Cr21 Cr41 Cr63 Cr
Trade receivables76 Cr103 Cr108 Cr111 Cr
Cash & bank0.88 Cr63 Cr0.71 Cr5 Cr
Other assets97 Cr27 Cr41 Cr56 Cr
Total assets378 Cr405 Cr413 Cr534 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity11 Cr-6 Cr23 Cr58 Cr
Cash from investing-45 Cr83 Cr-18 Cr-51 Cr
Cash from financing35 Cr-15 Cr-68 Cr-3 Cr
Net cash flow0.58 Cr63 Cr-63 Cr4 Cr
Free cash flow (OCF − Capex)-10 Cr-14 Cr13 Cr46 Cr

Ratios

MetricMar 2023Mar 2024Mar 2025Mar 2026
ROCE %8.8%10.7%19.1%24.6%
ROE %7.8%8.8%14.4%18.4%
Debtor days1231438482
Inventory days785954104
Days payable756756123
Cash conversion cycle1251358263
OCF / EBITDA %53.6%-20.1%43.3%75.0%
OCF / EBITDA % (3 years)——27.1%46.9%
Debt / equity0.320.250.010.0036
Current ratio1.612.584.553.18
Net debt / EBITDA4.190.310.07-0.05