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Last Updated: April 2, 2026, 3:46 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 524470 | NSE: SYNCOMF

Syncom Formulations (India) Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹7.69Overvalued by 31.34%vs CMP ₹11.20

P/E (15.2) × ROE (15.5%) × BV (₹4.00) × DY (2.00%)

₹7.98Overvalued by 28.75%vs CMP ₹11.20
MoS: -40.4% (Negative)Confidence: 63/100 (Moderate)Models: 1 Under, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹9.7123%Over (-13.3%)
Graham NumberEarnings₹8.1617%Over (-27.1%)
Earnings PowerEarnings₹2.4411%Over (-78.2%)
DCFCash Flow₹18.0611%Under (+61.3%)
Net Asset ValueAssets₹4.017%Over (-64.2%)
EV/EBITDAEnterprise₹6.299%Over (-43.8%)
Earnings YieldEarnings₹7.407%Over (-33.9%)
ROCE CapitalReturns₹4.327%Over (-61.4%)
Revenue MultipleRevenue₹4.926%Over (-56.1%)
Consensus (9 models)₹7.98100%Overvalued
Key Drivers: EPS CAGR 26.3% lifts DCF — verify sustainability. | Wide model spread (₹2–₹18) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 26.3%

*Investments are subject to market risks

Investment Snapshot

77
Syncom Formulations (India) Ltd scores 77/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health77/100 · Strong
ROCE 18.6% GoodROE 15.5% GoodD/E 0.10 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.15% (6mo) Slight increasePromoter holding at 50.6% Stable
Earnings Quality65/100 · Strong
OPM expanding (9% → 12%) Improving
Quarterly Momentum100/100 · Strong
Revenue (4Q): +29% YoY AcceleratingProfit (4Q): +79% YoY StrongOPM: 18.0% (up 7.0% YoY) Margin expansion
Industry Rank75/100 · Strong
P/E 15.2 vs industry 53.8 Cheaper than peersROCE 18.6% vs industry 16.4% Average3Y sales CAGR: 29% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:46 am

Market Cap 1,050 Cr.
Current Price 11.2
Intrinsic Value₹7.98
High / Low 23.5/10.2
Stock P/E15.2
Book Value 4.00
Dividend Yield0.00 %
ROCE18.6 %
ROE15.5 %
Face Value 1.00
PEG Ratio0.58

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Syncom Formulations (India) Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Syncom Formulations (India) Ltd 1,050 Cr. 11.2 23.5/10.215.2 4.000.00 %18.6 %15.5 % 1.00
TTK Healthcare Ltd 1,107 Cr. 784 1,402/73515.9 7681.28 %9.26 %6.89 % 10.0
Ind-Swift Laboratories Ltd 1,128 Cr. 138 152/67.223.8 1600.00 %0.78 %0.18 % 10.0
Fermenta Biotech Ltd 965 Cr. 328 399/24110.9 1330.76 %23.0 %24.9 % 5.00
Venus Remedies Ltd 1,151 Cr. 861 950/28615.1 4450.00 %11.1 %7.16 % 10.0
Industry Average19,815.15 Cr1,053.8453.84201.200.39%16.35%15.16%6.10

All Competitor Stocks of Syncom Formulations (India) Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 57615962637387101127148117121115
Expenses 515553565764769011213110110393
Operating Profit 66667910121517161921
OPM % 10%10%10%10%11%12%12%12%11%12%14%15%18%
Other Income 2724431447655
Interest 1111110000000
Depreciation 1111111111111
Profit before tax 610689910151723202225
Tax % 30%18%27%24%25%27%24%25%24%24%22%25%25%
Net Profit 4846678111318161719
EPS in Rs 0.040.090.050.070.070.070.080.120.140.190.170.180.20

Last Updated: March 3, 2026, 2:24 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 1:51 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 151173184185159187206245216222257461501
Expenses 135155167168147175189207196202229407428
Operating Profit 16181716121217382020285473
OPM % 11%11%9%9%7%6%8%16%9%9%11%12%15%
Other Income 113345571215131724
Interest 0000001023511
Depreciation 3333444445555
Profit before tax 14161616121317412627326591
Tax % 33%38%36%33%28%12%18%28%24%24%26%24%
Net Profit 910101191114292020244969
EPS in Rs 0.120.130.130.140.110.140.180.370.230.210.250.520.74
Dividend Payout % 17%16%15%15%0%0%0%0%13%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)11.11%0.00%10.00%-18.18%22.22%27.27%107.14%-31.03%0.00%20.00%104.17%
Change in YoY Net Profit Growth (%)0.00%-11.11%10.00%-28.18%40.40%5.05%79.87%-138.18%31.03%20.00%84.17%

Syncom Formulations (India) Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:10%
5 Years:18%
3 Years:29%
TTM:73%
Compounded Profit Growth
10 Years:17%
5 Years:28%
3 Years:35%
TTM:111%
Stock Price CAGR
10 Years:18%
5 Years:59%
3 Years:26%
1 Year:-23%
Return on Equity
10 Years:11%
5 Years:12%
3 Years:11%
Last Year:16%

Last Updated: September 5, 2025, 1:41 pm

Balance Sheet

Last Updated: December 4, 2025, 2:04 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 78787878787878798694949494
Reserves 17223136445568109136162192246282
Borrowings 3661212926258837240
Other Liabilities 42316148373233422838336674
Total Liabilities 140138175175171173181292308377392410451
Fixed Assets 50464685898993919491120125124
CWIP 00501000626008
Investments 962312211143646693148
Other Assets 808510189798387189165196206192171
Total Assets 140138175175171173181292308377392410451

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 002417-246-21610-623
Cash from Investing Activity + 01-23-8-222-75-27-4584-18
Cash from Financing Activity + 01-2-2-2-0-772835-15-68
Net Cash Flow 02-16-671-5-2163-63
Free Cash Flow -3-3169-8104-55-10-1413
CFO/OP 0%32%176%128%13%66%61%24%113%86%6%70%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow13.0012.0011.004.000.003.0015.00-24.00-38.00-63.00-44.0050.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 7166919187817711211412413285
Inventory Days 363443293737395151534949
Days Payable 10563130927557496636523351
Cash Conversion Cycle 1374274961679612912414883
Working Capital Days 758440457574882833-45195
ROCE %15%16%15%14%9%9%12%21%11%10%10%19%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 50.57%50.57%50.57%50.57%50.57%50.57%50.57%50.57%50.57%50.57%50.57%50.57%
FIIs 0.00%0.00%0.00%0.00%0.08%0.09%0.10%0.13%0.11%0.41%0.10%0.26%
Public 49.44%49.44%49.44%49.44%49.35%49.34%49.34%49.30%49.32%49.02%49.33%49.17%
No. of Shareholders 2,27,4782,24,9252,24,2522,89,9823,25,7613,76,5304,69,2424,89,5204,84,5294,71,0664,57,3644,42,280

Shareholding Pattern Chart

No. of Shareholders

Syncom Formulations (India) Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Motilal Oswal S&P BSE Healthcare ETF 5,387 0.09 0.015,3872025-04-22 16:59:380%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 17
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 0.570.340.240.260.13
Diluted EPS (Rs.) 0.570.340.240.240.13
Cash EPS (Rs.) 0.580.310.260.270.17
Book Value[Excl.RevalReserv]/Share (Rs.) 3.643.072.722.581.50
Book Value[Incl.RevalReserv]/Share (Rs.) 3.643.072.722.581.50
Revenue From Operations / Share (Rs.) 4.952.802.392.552.37
PBDIT / Share (Rs.) 0.760.450.360.370.24
PBIT / Share (Rs.) 0.700.400.310.320.20
PBT / Share (Rs.) 0.690.360.280.300.20
Net Profit / Share (Rs.) 0.520.260.210.220.13
NP After MI And SOA / Share (Rs.) 0.520.260.210.220.13
PBDIT Margin (%) 15.3916.3915.2614.5810.43
PBIT Margin (%) 14.2714.5913.2312.788.74
PBT Margin (%) 14.0812.8911.8411.918.59
Net Profit Margin (%) 10.639.618.949.005.69
NP After MI And SOA Margin (%) 10.639.618.949.005.69
Return on Networth / Equity (%) 14.448.787.838.908.97
Return on Capital Employeed (%) 18.7512.8911.2112.2012.92
Return On Assets (%) 11.966.255.316.425.84
Total Debt / Equity (X) 0.010.250.320.260.10
Asset Turnover Ratio (%) 1.140.670.650.001.05
Current Ratio (X) 4.552.581.611.791.50
Quick Ratio (X) 3.852.381.421.541.32
Inventory Turnover Ratio (X) 14.906.224.890.005.42
Dividend Payout Ratio (NP) (%) 0.000.000.000.0014.82
Dividend Payout Ratio (CP) (%) 0.000.000.000.0011.43
Earning Retention Ratio (%) 0.000.000.000.0085.18
Cash Earning Retention Ratio (%) 0.000.000.000.0088.57
Interest Coverage Ratio (X) 82.749.6510.9316.6268.46
Interest Coverage Ratio (Post Tax) (X) 58.156.667.4111.2538.42
Enterprise Value (Cr.) 1550.171055.54629.15974.19159.72
EV / Net Operating Revenue (X) 3.334.012.814.430.86
EV / EBITDA (X) 21.6624.4518.3830.428.28
MarketCap / Net Operating Revenue (X) 3.333.992.474.170.83
Retention Ratios (%) 0.000.000.000.0085.17
Price / BV (X) 4.523.652.174.131.31
Price / Net Operating Revenue (X) 3.333.992.474.170.83
EarningsYield 0.030.020.030.020.06

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Syncom Formulation (India) Ltd. is a Public Limited Listed company incorporated on 21/06/1988 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L24239MH1988PLC047759 and registration number is 047759. Currently Company is involved in the business activities of Manufacture of allopathic pharmaceutical preparations. Company's Total Operating Revenue is Rs. 462.85 Cr. and Equity Capital is Rs. 94.00 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Pharmaceuticals7, Niraj Industrial Estate, Off Mahakali Caves Road, Mumbai Maharashtra 400093Contact not found
Management
NamePosition Held
Mr. Ankit Kedarmal BankdaExecutive Chairman & Whole-time Director
Mr. Vijay Shankarlal BankdaManaging Director
Mr. Kedarmal Shankarlal BankdaWhole Time Director
Mrs. Ruchi JindalIndependent Woman Director
Mr. Ritesh Kumar LunkadIndependent Director
Mr. Ankit JainIndependent Director

FAQ

What is the intrinsic value of Syncom Formulations (India) Ltd and is it undervalued?

As of 14 April 2026, Syncom Formulations (India) Ltd's intrinsic value is ₹7.98, which is 28.75% lower than the current market price of ₹11.20, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (15.5 %), book value (₹4.00), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Syncom Formulations (India) Ltd?

Syncom Formulations (India) Ltd is trading at ₹11.20 as of 14 April 2026, with a FY2026-2027 high of ₹23.5 and low of ₹10.2. The stock is currently near its 52-week low. Market cap stands at ₹1,050 Cr..

How does Syncom Formulations (India) Ltd's P/E ratio compare to its industry?

Syncom Formulations (India) Ltd has a P/E ratio of 15.2, which is below the industry average of 53.84. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Syncom Formulations (India) Ltd financially healthy?

Key indicators for Syncom Formulations (India) Ltd: ROCE of 18.6 % indicates efficient capital utilization; ROE of 15.5 % shows strong shareholder returns. Dividend yield is 0.00 %.

Is Syncom Formulations (India) Ltd profitable and how is the profit trend?

Syncom Formulations (India) Ltd reported a net profit of ₹49 Cr in Mar 2025 on revenue of ₹461 Cr. Compared to ₹20 Cr in Mar 2022, the net profit shows an improving trend.

Does Syncom Formulations (India) Ltd pay dividends?

Syncom Formulations (India) Ltd has a dividend yield of 0.00 % at the current price of ₹11.20. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Syncom Formulations (India) Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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