BSE: 524470 | NSE: SYNCOMF | Pharmaceuticals & Drugs | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Syncom Formulations (India) Ltd is a average quality company.
The key valuation ratios of Syncom Formulations (India) Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Syncom Formulations (India) Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 15.6% | 14.7% | 13.6% | 9.4% | 9.4% | 12.4% | 20.7% | 10.6% | 9.7% | 10.5% | - |
| Value Creation Index ⓘ | 0.1 | 0.1 | 0.0 | -0.3 | -0.3 | -0.1 | 0.5 | -0.2 | -0.3 | -0.3 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 173 | 184 | 185 | 159 | 187 | 206 | 245 | 220 | 225 | 258 | 325 |
| Sales YoY Gr. | - | 6.1% | 0.5% | -14.2% | 17.7% | 10% | 19.1% | -10.3% | 2.3% | 15% | - |
| Adj EPS ⓘ | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.4 | 0.2 | 0.2 | 0.2 | 0.3 |
| YoY Gr. | - | 0% | 7.7% | -21.4% | 27.3% | 28.6% | 100% | -44.4% | -10% | 33.3% | - |
| BVPS (₹) ⓘ | 1.3 | 1.4 | 1.5 | 1.6 | 1.7 | 1.9 | 2.3 | 2.5 | 2.7 | 3.1 | 3.3 |
| Adj Net Profit ⓘ | 10.4 | 10.4 | 10.7 | 8.6 | 11.1 | 14.3 | 28.5 | 17.5 | 17.2 | 22.3 | 32 |
| Cash Flow from Ops. ⓘ | 0.2 | 24.1 | 16.9 | -1.6 | 4.3 | 5.9 | -2.1 | 16.3 | 10.5 | -5.9 | - |
| Debt/CF from Ops. ⓘ | 32.5 | 0.2 | 0.7 | -7.8 | 2 | 0.4 | -30.1 | 3.5 | 7.9 | -12.1 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 4.5% | 6.7% | 1.8% | 15% | ||||
| Adj EPS ⓘ | 7.1% | 11.4% | -12.6% | 33.3% | ||||
| BVPSⓘ | 10.1% | 12.4% | 10.7% | 12.1% | ||||
| Share Price | 6.1% | 96.1% | 28.1% | 98% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 10.6 | 10 | 9.6 | 7.3 | 8.7 | 10.3 | 17.1 | 8.6 | 7.2 | 8.2 | 10.7 |
| Op. Profit Mgn % ⓘ | 10.5 | 9.1 | 8.9 | 7.4 | 6.3 | 8.2 | 15.5 | 9.1 | 8.9 | 10.9 | 11.7 |
| Net Profit Mgn % ⓘ | 6 | 5.7 | 5.8 | 5.5 | 5.9 | 7 | 11.7 | 8 | 7.7 | 8.6 | 9.8 |
| Debt to Equity ⓘ | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0 | 0.4 | 0.3 | 0.3 | 0.3 | 0 |
| Working Cap Days ⓘ | 171 | 181 | 184 | 186 | 151 | 142 | 154 | 240 | 286 | 230 | 135 |
| Cash Conv. Cycle ⓘ | 26 | 28 | 25 | 50 | 55 | 61 | 73 | 111 | 117 | 120 | 95 |
Return on Equity has increased versus last 3 years average to 10.70%
Sales growth is good in last 4 quarters at 34.68%
Sales growth has been subdued in last 3 years 1.81%
Net Profit has been subdued in last 3 years -12.64%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 0.3 | 0.4 |
| TTM Sales (₹ Cr.) | 325 | 329 |
| BVPS (₹.) ⓘ | 3.3 | 3.3 |
| Reserves (₹ Cr.) ⓘ | 218 | 220 |
| P/BV ⓘ | 6.07 | 6.03 |
| PE ⓘ | 59.60 | 57.09 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 9.80 / 27.94 |
| All Time Low / High (₹) | 0.14 / 27.94 |
| Market Cap (₹ Cr.) | 1,892 |
| Equity (₹ Cr.) | 94 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 43 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 173 | 184 | 185 | 159 | 187 | 206 | 245 | 220 | 225 | 258 |
| Operating Expenses ⓘ | 155 | 167 | 168 | 147 | 175 | 189 | 207 | 200 | 205 | 230 |
| Manufacturing Costs | 36 | 30 | 30 | 33 | 34 | 40 | 47 | 41 | 49 | 48 |
| Material Costs | 84 | 107 | 103 | 81 | 107 | 118 | 120 | 106 | 101 | 116 |
| Employee Cost | 13 | 13 | 14 | 15 | 15 | 16 | 18 | 21 | 24 | 34 |
| Other Costs ⓘ | 21 | 18 | 22 | 18 | 18 | 15 | 21 | 32 | 30 | 33 |
| Operating Profit ⓘ | 18 | 17 | 16 | 12 | 12 | 17 | 38 | 20 | 20 | 28 |
| Operating Profit Margin (%) | 10.5% | 9.1% | 8.9% | 7.4% | 6.3% | 8.2% | 15.5% | 9.1% | 8.9% | 10.9% |
| Other Income ⓘ | 2 | 3 | 3 | 4 | 5 | 5 | 7 | 12 | 15 | 13 |
| Interest ⓘ | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 2 | 3 | 5 |
| Depreciation ⓘ | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 5 | 5 |
| Exceptional Items ⓘ | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 16 | 16 | 16 | 12 | 13 | 17 | 41 | 26 | 27 | 32 |
| Tax ⓘ | 6 | 6 | 5 | 3 | 2 | 3 | 12 | 6 | 6 | 8 |
| Profit After Tax | 10 | 10 | 11 | 9 | 11 | 14 | 29 | 20 | 20 | 24 |
| PAT Margin (%) | 5.6% | 5.6% | 5.8% | 5.5% | 5.9% | 6.9% | 11.9% | 9.0% | 8.9% | 9.1% |
| Adjusted EPS (₹) | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.4 | 0.2 | 0.2 | 0.3 |
| Dividend Payout Ratio (%) | 16% | 15% | 15% | 0% | 0% | 0% | 0% | 0% | 14% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 100 | 109 | 114 | 122 | 133 | 146 | 178 | 217 | 256 | 286 |
| Share Capital ⓘ | 78 | 78 | 78 | 78 | 78 | 78 | 79 | 86 | 94 | 94 |
| Reserves ⓘ | 22 | 31 | 36 | 44 | 55 | 68 | 99 | 131 | 162 | 192 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 6 | 6 | 12 | 12 | 9 | 2 | 62 | 58 | 83 | 72 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 6 | 6 | 12 | 12 | 9 | 2 | 62 | 58 | 83 | 72 |
| Trade Payables | 20 | 47 | 32 | 22 | 21 | 20 | 29 | 14 | 20 | 14 |
| Others Liabilities ⓘ | 16 | 19 | 20 | 17 | 14 | 16 | 22 | 19 | 17 | 19 |
| Total Liabilities ⓘ | 142 | 181 | 179 | 174 | 176 | 184 | 292 | 308 | 377 | 392 |
Fixed Assets | ||||||||||
| Gross Block | 80 | 82 | 92 | 98 | 91 | 93 | 95 | 101 | 102 | 136 |
| Accumulated Depreciation | 35 | 37 | 37 | 40 | 43 | 47 | 51 | 54 | 59 | 63 |
| Net Fixed Assetsⓘ | 46 | 46 | 55 | 58 | 48 | 46 | 44 | 47 | 43 | 72 |
| CWIP ⓘ | 0 | 5 | 0 | 1 | 0 | 0 | 0 | 6 | 26 | 0 |
| Investmentsⓘ | 6 | 23 | 1 | 2 | 2 | 1 | 11 | 43 | 64 | 66 |
| Inventories | 11 | 15 | 10 | 11 | 14 | 16 | 23 | 20 | 21 | 21 |
| Trade Receivables | 31 | 46 | 46 | 38 | 41 | 43 | 75 | 68 | 75 | 93 |
Cash Equivalents  ⓘ
| 7 | 6 | 7 | 6 | 8 | 9 | 64 | 0 | 9 | 68 |
| Others Assetsⓘ | 41 | 39 | 59 | 59 | 63 | 69 | 74 | 125 | 139 | 71 |
| Total Assets ⓘ | 142 | 181 | 179 | 174 | 176 | 184 | 292 | 308 | 377 | 392 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 0 | 24 | 17 | -2 | 4 | 6 | -2 | 16 | 10 | -6 |
| PBT ⓘ | 16 | 16 | 16 | 12 | 13 | 17 | 41 | 26 | 27 | 32 |
| Adjustment ⓘ | 3 | 1 | 0 | 0 | -1 | -1 | -2 | -7 | -6 | -3 |
| Changes in Working Capital ⓘ | -12 | 12 | 5 | -10 | -4 | -6 | -29 | 4 | -3 | -27 |
| Tax Paid ⓘ | -6 | -5 | -4 | -3 | -3 | -4 | -11 | -6 | -7 | -8 |
| Cash Flow From Investing Activity ⓘ | 1 | -23 | -8 | -2 | 2 | 2 | -75 | -27 | -45 | 84 |
| Capex | 0 | 0 | -8 | -7 | 6 | -9 | -3 | -11 | -21 | -8 |
| Net Investments | 2 | -17 | -13 | -2 | -8 | 4 | -79 | -25 | -38 | 78 |
| Others ⓘ | -1 | -6 | 12 | 6 | 5 | 7 | 6 | 10 | 14 | 14 |
| Cash Flow From Financing Activityⓘ | 1 | -2 | -2 | -2 | 0 | -7 | 72 | 8 | 35 | -15 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Interest Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | -3 | -4 |
| Dividend Paid ⓘ | -2 | -2 | -2 | -2 | 0 | 0 | 0 | 0 | -3 | 0 |
| Others ⓘ | 2 | -1 | 0 | 0 | 0 | -6 | 72 | 9 | 40 | -12 |
| Net Cash Flow ⓘ | 1 | -1 | 6 | -6 | 7 | 1 | -5 | -2 | 1 | 63 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 9.99 | 9.91 | 9.56 | 7.33 | 8.71 | 10.24 | 18.04 | 10.02 | 8.48 | 8.71 |
| ROCE (%) | 15.55 | 14.72 | 13.58 | 9.43 | 9.37 | 12.39 | 20.72 | 10.61 | 9.68 | 10.46 |
| Asset Turnover Ratio | 1.21 | 1.15 | 1.03 | 0.9 | 1.07 | 1.14 | 1.03 | 0.73 | 0.66 | 0.67 |
| PAT to CFO Conversion(x) | 0 | 2.4 | 1.55 | -0.22 | 0.36 | 0.43 | -0.07 | 0.8 | 0.5 | -0.25 | Working Capital Days |
| Receivable Days | 64 | 76 | 91 | 96 | 77 | 75 | 88 | 118 | 116 | 119 |
| Inventory Days | 22 | 26 | 25 | 24 | 24 | 26 | 29 | 35 | 33 | 30 |
| Payable Days | 107 | 115 | 141 | 123 | 74 | 64 | 75 | 74 | 62 | 54 |
Syncom Formulations (India) Ltd was originally incorporated as Syncom Formulations (India) Private Limited in the state of Maharashtra on June 21, 1988 under the Companies Act, 1956. Further the status of company was changed to public limited company and thereby name of company changed to Syncom Formulations (India) Limited and a fresh certificate of change of name obtained on July 9, 1992.
The company was promoted by Kedarmal Bankda, Ajay Kumar Bankda & Vijay Kumar Bankda for manufacturing, marketing, dealership, importing, exporting & job work of pharmaceuticals, medicinal and other Industrial preparation & formulations under its own brands in ethical, OTC, generic and herbal market segment. The company came out with its Initial Public Offering in the Year 1994 hence obtained listing at BSE, DSE, ASE and MSE. However company has voluntarily de-listed its shares from ASE on July 8, 2004, MPSE on May 29, 2008 & DSE on September 2, 2004.
The company is engaged in the business of pharmaceutical formulations. It manufactures range of products in various dosage forms and markets them in various countries. In addition to pharmaceutical formulations in the form of tablets, capsules, liquids and dry powders, the company also manufactures Injectibles, inhalers and ear/eye drops. In 1994, the company undertook an expansion programme of setting up a new plant for manufacturing pharmaceutical formulations at Pithampur, Madhya Pradesh. The project which was financed through a public issue made in January 1994 was completed in 1995.
During the year 1997-98, the company has further diversified into ethical operations by introducing the range of prescription formulations. During the year 1998-99 there has been huge expansion of installed capacity and production base. Further the company introduced products in the generic, OTC and ethical divisions. During the year 2007-08 the company has further completed modernization and expansion of project in Pithampur unit, District Dhar, M.P with a total investment of Rs. 1516.62 Lakh.
Today, SFL stands as one of the fastest growing pharmaceutical company operating in more than 35 countries worldwide and has more than 150 products in various dosage forms which include tablets, capsules, dry syrups, and ointments/creams, dry powder Injections and ampoules and wide range of herbal products.
Syncom was keeping pace with the changing pharmaceutical scenario ventured into International market a decade ago. The International operations are managed from its International division located in Mumbai, commercial capital of India. Syncom today promotes all its generic, herbal and OTC range of products in the markets where it operates. Syncom's presence is felt in Asia, Africa, CIS, and Russia and Latin American countries. Mumbai Office also houses the Regulatory Affairs Department, which is well equipped with modern library, reference documents, and all other facilities to provide world-class registration dossiers.
Syncom's vision to globalise its herbal range of product has been vindicated by the excellent acceptance of these products by customers world over. Syncom has taken efforts to bring to mankind the goodness of AYURVEDA, the traditional Indian medicinal science through its unique range of herbal products used for various therapeutic and prophylactic purposes. Millions of healthy patients world wide, stand testimony to the alleviation of various disorders and improvement in their quality of life with products. The company presently exports goods to Guinea, Ghana, Kenya, Uganda, Sudan, Russia, Maldova, Tanzania, Africa, Azberjan, Nepal and Srilanka.
The company has been approved as a supplier to reputed hospitals and regulatory agencies including Central Medical Stores Organization of Gujarat Govt, Directorate of health services of Delhi Govt. and Central Govt. and supply to and registration of defense services is in its final stages. This results in generating substantial sales volume. Keeping in view the shifting consumer preferences for the use of herbal products, the company is aggressively manufacturing and marketing its herbal products like Colo Vaporex, Colo Inhaler, Edicare, Attom Megacaps, Ecziguard and Yas antacid salt.
In 2012 Company incorporated a Wholly Owned Subsidiary Company in the name of "TRADE ZONE FZE" in the United Arab Emirates.
Product range of the company includes:
Generic Tablets
Herbal Branded
Branded Allopathic
Achievements/ recognition:
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