Syncom Formulations (India) Ltd

Syncom Formulations (India) Ltd

₹ 14.0 1.59%
24 Apr 2:54 p.m.
About

Established in the year 1995, Syncom Formulations is a global pharmaceutical company that manufactures and markets a broad range of healthcare products. The company is a generic pharmaceutical player operating in more than 15 countries worldwide having more than 400 products registered.[1]

Key Points

Business Overview
The company manufactures and markets 500+ pharmaceutical formulations products in various dosage forms like Tablets, Capsules, Liquids Orals, Liquid Vials and Ampoule Injections & Dry Vial injections, Dry Syrups, Ointments and Inhalers. It is also involved in trading commodities and rental of properties. [1]

  • Market Cap 1,318 Cr.
  • Current Price 14.0
  • High / Low 18.6 / 5.90
  • Stock P/E 52.0
  • Book Value 2.87
  • Dividend Yield 0.00 %
  • ROCE 9.70 %
  • ROE 8.42 %
  • Face Value 1.00

Pros

Cons

  • Stock is trading at 4.94 times its book value
  • The company has delivered a poor sales growth of 6.95% over past five years.
  • Company has a low return on equity of 11.5% over last 3 years.
  • Earnings include an other income of Rs.17.0 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
84.17 65.54 51.27 52.94 57.23 58.23 51.40 54.49 57.38 61.37 59.36 62.39 63.34
71.14 57.12 44.27 47.27 52.34 56.19 47.92 50.20 51.47 55.43 53.21 56.29 56.55
Operating Profit 13.03 8.42 7.00 5.67 4.89 2.04 3.48 4.29 5.91 5.94 6.15 6.10 6.79
OPM % 15.48% 12.85% 13.65% 10.71% 8.54% 3.50% 6.77% 7.87% 10.30% 9.68% 10.36% 9.78% 10.72%
1.20 3.76 1.37 2.72 2.24 5.69 2.98 2.87 1.98 6.79 1.88 4.00 4.33
Interest 0.03 0.16 0.19 0.12 0.15 1.04 0.50 0.62 0.72 1.29 1.12 1.08 1.08
Depreciation 0.99 1.05 0.97 0.97 0.99 1.01 1.00 1.18 1.20 1.17 1.10 0.88 1.45
Profit before tax 13.21 10.97 7.21 7.30 5.99 5.68 4.96 5.36 5.97 10.27 5.81 8.14 8.59
Tax % 24.22% 36.65% 24.97% 23.01% 32.89% 16.20% 22.18% 33.02% 30.49% 17.62% 26.85% 23.71% 25.38%
10.02 6.95 5.40 5.62 4.01 4.76 3.87 3.60 4.15 8.47 4.25 6.21 6.42
EPS in Rs 0.13 0.09 0.07 0.07 0.05 0.06 0.04 0.04 0.04 0.09 0.05 0.07 0.07
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
118 115 151 173 184 185 159 187 206 245 216 222 246
110 104 135 155 167 168 147 175 189 207 196 202 221
Operating Profit 8 11 16 18 17 16 12 12 17 38 20 20 25
OPM % 6% 9% 11% 11% 9% 9% 7% 6% 8% 16% 9% 9% 10%
1 1 1 1 3 3 4 5 5 7 12 15 17
Interest 0 1 0 0 0 0 0 0 1 0 2 3 5
Depreciation 3 3 3 3 3 3 4 4 4 4 4 5 5
Profit before tax 5 8 14 16 16 16 12 13 17 41 26 27 33
Tax % 36% 33% 33% 38% 36% 33% 28% 12% 18% 28% 24% 24%
4 6 9 10 10 11 9 11 14 29 20 20 25
EPS in Rs 0.04 0.07 0.12 0.13 0.13 0.14 0.11 0.14 0.18 0.37 0.23 0.21 0.28
Dividend Payout % 38% 24% 17% 16% 15% 15% 0% 0% 0% 0% 131% 0%
Compounded Sales Growth
10 Years: 7%
5 Years: 7%
3 Years: 3%
TTM: 11%
Compounded Profit Growth
10 Years: 13%
5 Years: 18%
3 Years: 12%
TTM: 55%
Stock Price CAGR
10 Years: 13%
5 Years: 68%
3 Years: 41%
1 Year: 128%
Return on Equity
10 Years: 10%
5 Years: 11%
3 Years: 12%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 22 22 78 78 78 78 78 78 78 79 86 94 94
Reserves 61 65 17 22 31 36 44 55 68 99 131 162 176
6 2 3 6 6 12 12 9 2 62 58 83 80
23 33 42 31 61 48 37 32 33 52 33 38 54
Total Liabilities 113 123 140 138 175 175 171 173 181 292 308 377 404
51 50 50 46 46 85 89 89 93 91 94 91 120
CWIP 0 0 0 0 5 0 1 0 0 0 6 26 0
Investments 8 7 9 6 23 1 2 2 1 11 43 64 68
54 66 80 85 101 89 79 83 87 189 165 196 216
Total Assets 113 123 140 138 175 175 171 173 181 292 308 377 404

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
6 6 0 0 24 17 -2 4 6 -2 16 10
-5 -0 0 1 -23 -8 -2 2 2 -75 -27 -45
-1 -6 0 1 -2 -2 -2 -0 -7 72 8 35
Net Cash Flow 1 -1 0 2 -1 6 -6 7 1 -5 -2 1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 74 92 71 66 91 91 87 81 77 112 114 124
Inventory Days 20 29 36 34 43 29 37 37 39 51 51 53
Days Payable 49 91 105 63 130 92 75 57 49 66 36 52
Cash Conversion Cycle 44 29 1 37 4 27 49 61 67 96 129 124
Working Capital Days 91 101 83 97 51 70 103 90 92 121 131 133
ROCE % 7% 10% 15% 16% 15% 14% 9% 9% 12% 21% 11% 10%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
41.18% 44.01% 44.01% 46.12% 50.57% 50.57% 50.57% 50.57% 50.57% 50.57% 50.57% 50.57%
0.00% 0.58% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.08%
58.82% 55.40% 55.99% 53.88% 49.43% 49.43% 49.43% 49.44% 49.44% 49.44% 49.44% 49.35%
No. of Shareholders 93,2071,20,8001,88,9812,32,6172,35,5172,32,7502,32,0692,27,4782,24,9252,24,2522,89,9823,25,761

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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