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Last Updated on: 22 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Syngene International Ltd

About the Company - Syngene International Ltd

Syngene International Ltd. is a Public Limited Listed company incorporated on 18/11/1993 and has its registered office in the State of Karnataka, India. Company’s Corporate Identification Number(CIN) is L85110KA1993PLC014937 and registration number is 014937. Currently Company is involved in the business activities of Scientific research and development. Company’s Total Operating Revenue is Rs. 2601.40 Cr. and Equity Capital is Rs. 400.80 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
MiscellaneousBiocon SEZ, Biocon Park, Plot No. 2 & 3, Bengaluru Karnataka 560099investor@syngeneintl.com
http://www.syngeneintl.com
Management
NamePosition Held
Ms. Kiran Mazumdar ShawNon Executive Chairman
Mr. Jonathan HuntManaging Director & CEO
Prof. Catherine RosenbergNon Executive Director
Ms. Vinita BaliLead Independent Director
Dr. Vijay KuchrooIndependent Director
Dr. Carl DeciccoIndependent Director
Ms. Sharmila Abhay KarveIndependent Director
Dr. Kush ParmarIndependent Director
Mr. Paul BlackburnIndependent Director

Syngene International Ltd. Share Price Update

Share PriceValue
Today₹748.55
Previous Day₹735.05

Basic Stock Data of Syngene International Ltd

Market Cap 30,284 Cr.
Current Price 753
High / Low860/563
Stock P/E59.5
Book Value 96.8
Dividend Yield0.07 %
ROCE14.5 %
ROE13.4 %
Face Value 10.0

Data Source: screener.in

Competitors of Syngene International Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Vasa Retail and Overseas Ltd (VASA) 4.02 Cr. 6.7018.5/5.35 29.50.00 %117 %% 10.0
Sun Pharma Advanced Research Company Ltd 11,430 Cr. 352424/160 10.20.00 %106 %144 % 1.00
Add-Shop E-Retail Ltd 82.0 Cr. 29.045.0/28.16.51 40.40.00 %38.0 %26.4 % 10.0
Industry Average32.34 Cr129.232.1726.70%87%56.8%7

Syngene International Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales584659594610641758644768786994808910854
Expenses408443430433438508472552555680596656622
Operating Profit176215165177203250173216231314212254232
OPM %30%33%28%29%32%33%27%28%29%32%26%28%27%
Other Income175312-18131516151723241426
Interest7781969121410101311
Depreciation70707576788086909596102105108
Profit before tax116192958212817993130140231123151138
Tax %12%16%18%19%19%17%20%22%22%23%24%23%19%
Net Profit10216177671041487410211017993116112
EPS in Rs2.564.021.931.662.593.691.842.542.734.452.322.902.77

Syngene International Ltd Quarterly Chart

Syngene International Ltd Profit & Loss

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1,4231,8262,0122,1842,6043,1933,566
Expenses9491,2891,3941,5071,8062,2512,554
Operating Profit4745376186787989421,012
OPM %33%29%31%31%31%30%28%
Other Income537515394206386
Interest23323528244545
Depreciation131164219274310366410
Profit before tax372415517469484594643
Tax %18%20%20%14%18%22%
Net Profit305332412405396464500
EPS in Rs7.648.2910.3010.129.8811.5712.44
Dividend Payout %7%3%0%0%10%11%

Syngene International Ltd Profit & Loss Yearly Chart

Syngene International Ltd Growth

Compounded Sales Growth
10 Years:%
5 Years:18%
3 Years:17%
TTM:21%
Compounded Profit Growth
10 Years:%
5 Years:10%
3 Years:9%
TTM:17%
Stock Price CAGR
10 Years:%
5 Years:21%
3 Years:9%
1 Year:31%
Return on Equity
10 Years:%
5 Years:15%
3 Years:14%
Last Year:13%

Syngene International Ltd Balance Sheet

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital200200400400401401402
Reserves1,5201,7681,7762,4212,8973,2173,489
Borrowings7878137738931,022815833
Other Liabilities6819221,2141,1691,2451,3981,122
Total Liabilities3,1893,7044,1634,8835,5645,8315,846
Fixed Assets1,0301,3772,0202,2012,3932,6672,751
CWIP155274234237346177236
Investments1587167767021,034918540
Other Assets1,8461,3371,1331,7431,7902,0692,319
Total Assets3,1893,7044,1634,8835,5645,8315,846

Syngene International Ltd Reserves and Borrowings Chart

Syngene International Ltd Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 446630677701581824
Cash from Investing Activity -349-646-424-629-611-653
Cash from Financing Activity -79-72-22658-31-342
Net Cash Flow18-8828130-62-172

Syngene International Ltd Financial Efficiency Indicators

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days686872797161
Inventory Days8230184187141
Days Payable195154156167113109
Cash Conversion Cycle-44-56-66-474592
Working Capital Days-28-65-115-20-3-1
ROCE %17%17%14%13%15%

Syngene International Ltd Financial Efficiency Indicators Chart

Syngene International Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters70.58%70.43%70.42%70.41%70.41%70.29%64.86%64.86%54.88%54.80%54.79%54.79%
FIIs14.25%14.42%14.09%13.84%13.69%14.15%16.79%16.87%23.31%23.19%23.55%21.20%
DIIs5.27%4.75%4.80%4.41%4.41%4.18%6.75%7.03%10.71%11.20%11.70%14.63%
Public9.19%9.49%9.82%10.61%10.81%10.56%11.11%10.77%10.65%10.23%9.47%9.07%
Others0.71%0.90%0.86%0.72%0.68%0.83%0.49%0.47%0.46%0.60%0.48%0.32%
No. of Shareholders1,15,6321,26,3951,36,7491,37,8921,33,6101,28,2781,34,3341,27,9641,24,0141,25,4551,25,9921,21,880

Syngene International Ltd Shareholding Pattern Chart

No. of Syngene International Ltd Shareholders

Syngene International Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Mirae Asset Focused Fund38315582.9268.76
ICICI Prudential ELSS Tax Saver Fund34002671.92238.51
UTI Flexi Cap Fund29303750.78205.55
ICICI Prudential Focused Equity Fund22883532.46160.52
PGIM India Midcap Opportunities Fund22317701.56156.55
UTI Mid Cap Fund19339551.39135.66
ICICI Prudential Multicap Fund18116851.23127.08
ICICI Prudential Large & Mid Cap Fund17800391.22124.86
ICICI Prudential Flexicap Fund16715860.87117.25
Kotak Equity Arbitrage Fund - Regular Plan16080000.33112.79

Syngene International Ltd ROCE Trend

Syngene International Ltd EPS Trend

Syngene International Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)11.599.9410.1810.388.39
Diluted EPS (Rs.)11.519.8210.1110.358.36
Cash EPS (Rs.)20.7017.6016.9815.7924.79
Book Value[Excl.RevalReserv]/Share (Rs.)90.1382.2870.5354.4098.42
Book Value[Incl.RevalReserv]/Share (Rs.)90.1382.2870.5354.4098.42
Revenue From Operations / Share (Rs.)79.5464.9754.6150.3091.28
PBDIT / Share (Rs.)25.0421.1818.4117.4930.59
PBIT / Share (Rs.)15.9113.4511.5512.0122.39
PBT / Share (Rs.)14.7912.0911.7312.9220.77
Net Profit / Share (Rs.)11.579.8810.1210.3016.58
NP After MI And SOA / Share (Rs.)11.579.8810.1210.3016.58
PBDIT Margin (%)31.4832.5933.7134.7633.51
PBIT Margin (%)20.0020.7021.1423.8624.52
PBT Margin (%)18.5918.6021.4825.6922.75
Net Profit Margin (%)14.5415.1918.5320.4818.16
NP After MI And SOA Margin (%)14.5415.1918.5320.4818.16
Return on Networth / Equity (%)12.8312.0014.3518.9416.84
Return on Capital Employeed (%)13.7512.4312.3118.3017.38
Return On Assets (%)7.967.118.299.898.95
Long Term Debt / Equity (X)0.130.160.180.000.17
Total Debt / Equity (X)0.150.230.270.140.27
Asset Turnover Ratio (%)0.550.490.480.510.52
Current Ratio (X)2.041.791.591.051.56
Quick Ratio (X)1.761.651.541.031.52
Inventory Turnover Ratio (X)3.526.4513.0115.127.81
Dividend Payout Ratio (NP) (%)8.630.000.005.847.26
Dividend Payout Ratio (CP) (%)4.820.000.003.814.86
Earning Retention Ratio (%)91.370.000.0094.1692.74
Cash Earning Retention Ratio (%)95.180.000.0096.1995.14
Interest Coverage Ratio (X)22.2435.2226.5820.2218.94
Interest Coverage Ratio (Post Tax) (X)11.2718.7014.3510.8511.27
Enterprise Value (Cr.)23908.8424195.4521863.709689.4011859.40
EV / Net Operating Revenue (X)7.499.2910.014.826.50
EV / EBITDA (X)23.7828.5029.6913.8519.38
MarketCap / Net Operating Revenue (X)7.479.199.954.806.44
Retention Ratios (%)91.360.000.0094.1592.73
Price / BV (X)6.607.257.704.445.97
Price / Net Operating Revenue (X)7.479.199.954.806.44
EarningsYield0.010.010.010.040.02

Syngene International Ltd Profitability Ratios (%)

Syngene International Ltd Liquidity Ratios

Syngene International Ltd Liquidity Ratios (%)

Syngene International Ltd Interest Coverage Ratios (X)

Syngene International Ltd Valuation Ratios

Fair Value / Intrinsic Value of Syngene International Ltd

Fair Value: ₹772.33

The stock is undervalued by 2.57% compared to the current price ₹753

*Investments are subject to market risks

Strength and Weakness of Syngene International Ltd

StrengthWeakness
  1. The stock has a low average Working Capital Days of -38.67, which is a positive sign.
  2. The stock has a low average Cash Conversion Cycle of -12.67, which is a positive sign.
  3. The company has higher reserves (2,441.14 cr) compared to borrowings (848.00 cr), indicating strong financial stability.
  4. The company has shown consistent growth in sales (2.00 cr) and profit (499.14 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 15.06 and average Dividend Yield of 22.04%.
  2. The stock has a low average ROCE of 12.67%, which may not be favorable.

Should I Buy Syngene International Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Syngene International Ltd:
    1. Net Profit Margin: 14.54%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 13.75% (Industry Average ROCE: 77.51%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. Interest Coverage Ratio (Post Tax): 11.27
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    4. Quick Ratio: 1.76
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    5. ✗ Stock P/E: 59.4 (Industry average Stock P/E: 10.73)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    6. ✓ Total Debt / Equity: 0.15
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

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 Syngene International 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