Syngene International Ltd
Syngene (established in 1993) as a Biocon subsidiary is India's first Contract Research Organization (CRO) which expanded later to be an integrated service provider offering end-to-end drug discovery, development, and manufacturing services on a single platform (CRAMS). Total research & manufacturing infrastructure for the company is spread across 1.9 million square feet across locations. [1]
- Market Cap ₹ 18,983 Cr.
- Current Price ₹ 471
- High / Low ₹ 729 / 380
- Stock P/E 52.5
- Book Value ₹ 117
- Dividend Yield 0.27 %
- ROCE 10.0 %
- ROE 7.74 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
Cons
- Stock is trading at 4.04 times its book value
- The company has delivered a poor sales growth of 9.45% over past five years.
- Company has a low return on equity of 9.70% over last 3 years.
- Dividend payout has been low at 12.7% of profits over last 3 years
* 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 860 | 1,107 | 1,201 | 1,423 | 1,826 | 2,012 | 2,179 | 2,601 | 3,194 | 3,203 | 3,373 | 3,424 | |
| 579 | 727 | 816 | 950 | 1,290 | 1,395 | 1,504 | 1,861 | 2,252 | 2,322 | 2,453 | 2,609 | |
| Operating Profit | 281 | 380 | 385 | 473 | 536 | 617 | 676 | 741 | 942 | 881 | 920 | 815 |
| OPM % | 33% | 34% | 32% | 33% | 29% | 31% | 31% | 28% | 29% | 28% | 27% | 24% |
| 12 | 6 | 94 | 53 | 75 | 153 | 94 | 75 | 63 | 74 | 100 | -6 | |
| Interest | 8 | 8 | 18 | 23 | 32 | 35 | 28 | 24 | 45 | 30 | 31 | 26 |
| Depreciation | 81 | 97 | 114 | 131 | 164 | 219 | 274 | 310 | 359 | 369 | 367 | 387 |
| Profit before tax | 204 | 281 | 346 | 372 | 414 | 516 | 467 | 482 | 601 | 557 | 622 | 395 |
| Tax % | 14% | 14% | 17% | 18% | 20% | 20% | 14% | 18% | 21% | 16% | 25% | 23% |
| 175 | 241 | 287 | 305 | 331 | 412 | 404 | 394 | 473 | 466 | 468 | 305 | |
| EPS in Rs | 4.38 | 6.02 | 7.18 | 7.63 | 8.27 | 10.29 | 10.09 | 9.83 | 11.78 | 11.60 | 11.63 | 7.57 |
| Dividend Payout % | 239% | 8% | 7% | 7% | 3% | 0% | 0% | 10% | 11% | 11% | 11% | 17% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 9% |
| 3 Years: | 2% |
| TTM: | 2% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | -1% |
| 3 Years: | -8% |
| TTM: | -16% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | -4% |
| 3 Years: | -12% |
| 1 Year: | -27% |
| Return on Equity | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 11% |
| 3 Years: | 10% |
| Last Year: | 8% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 199 | 200 | 200 | 200 | 200 | 400 | 400 | 401 | 401 | 402 | 402 | 403 |
| Reserves | 646 | 825 | 1,213 | 1,520 | 1,767 | 1,774 | 2,418 | 2,891 | 3,218 | 3,790 | 4,236 | 4,301 |
| 155 | 891 | 806 | 787 | 813 | 773 | 893 | 1,022 | 639 | 332 | 306 | 201 | |
| 422 | 440 | 555 | 681 | 922 | 1,215 | 1,166 | 1,247 | 1,590 | 1,310 | 1,462 | 1,658 | |
| Total Liabilities | 1,422 | 2,356 | 2,775 | 3,188 | 3,702 | 4,162 | 4,878 | 5,561 | 5,848 | 5,834 | 6,407 | 6,563 |
| 503 | 580 | 810 | 1,030 | 1,377 | 2,020 | 2,201 | 2,393 | 2,260 | 2,318 | 2,241 | 2,492 | |
| CWIP | 105 | 237 | 175 | 155 | 274 | 234 | 237 | 346 | 126 | 760 | 880 | 536 |
| Investments | 146 | 277 | 540 | 158 | 716 | 777 | 702 | 1,034 | 941 | 928 | 1,468 | 1,564 |
| 667 | 1,262 | 1,249 | 1,845 | 1,336 | 1,132 | 1,737 | 1,787 | 2,521 | 1,829 | 1,818 | 1,971 | |
| Total Assets | 1,422 | 2,356 | 2,775 | 3,188 | 3,702 | 4,162 | 4,878 | 5,561 | 5,848 | 5,834 | 6,407 | 6,563 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 18 | 308 | 398 | 446 | 630 | 677 | 698 | 582 | 838 | 913 | 1,114 | 831 | |
| 16 | -753 | -470 | -350 | -646 | -424 | -629 | -611 | -685 | -383 | -810 | -784 | |
| -10 | 716 | -81 | -79 | -72 | -226 | 58 | -31 | -340 | -536 | -136 | -178 | |
| Net Cash Flow | 24 | 272 | -153 | 17 | -88 | 28 | 127 | -60 | -187 | -6 | 167 | -131 |
| Free Cash Flow | -178 | 16 | 92 | 82 | 46 | 34 | 252 | 107 | 305 | 568 | 736 | 544 |
| CFO/OP | 22% | 92% | 123% | 111% | 135% | 127% | 116% | 93% | 103% | 115% | 132% | 107% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 76 | 61 | 60 | 68 | 68 | 72 | 57 | 71 | 55 | 49 | 51 | 46 |
| Inventory Days | 59 | 44 | 37 | 82 | 30 | 18 | 41 | 87 | 141 | 95 | 62 | 60 |
| Days Payable | 106 | 87 | 116 | 194 | 154 | 157 | 166 | 115 | 110 | 104 | 143 | 136 |
| Cash Conversion Cycle | 29 | 18 | -19 | -44 | -56 | -67 | -68 | 44 | 86 | 41 | -30 | -30 |
| Working Capital Days | -64 | -65 | -44 | -48 | -103 | -172 | -65 | -43 | 21 | -30 | -59 | -28 |
| ROCE % | 23% | 20% | 18% | 16% | 17% | 17% | 14% | 13% | 15% | 13% | 13% | 10% |
Insights
In beta| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Headcount Number |
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| Number of Active Clients Number |
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| Number of Scientists Number |
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| Revenue Mix - Manufacturing (CDMO) Percentage |
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| Revenue Mix - Research Services (CRO) Percentage |
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| Patents held with clients Number |
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| Single-use Bioreactor Capacity (Large Molecules) Litres |
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Extracted by Screener AI
Documents
Announcements
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Board Meeting Outcome for Outcome Of Board Meeting - Voluntary Liquidation Of Syngene Manufacturing Solutions Limited, A Wholly Owned Subsidiary.
18h - Board approved voluntary liquidation of non-operating subsidiary SMSL on May 18, 2026.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
4 May - Q4 FY2026 earnings call transcript uploaded on company website on May 4, 2026.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
1 May - Advertisement in Newspapers - Financial Results
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
30 Apr - Syngene uploaded Q4 FY26 post-earnings call audio recording on April 30, 2026.
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Announcement under Regulation 30 (LODR)-Investor Presentation
30 Apr - Investor Presentation under Regulation 30 of SEBI (LODR) Regulations, 2015
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Concalls
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Apr 2026Transcript PPT REC
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Jan 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Sep 2025TranscriptAI SummaryPPT
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Jul 2025Transcript PPT
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Apr 2025TranscriptPPTREC
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Mar 2025TranscriptAI SummaryPPT
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Jan 2025Transcript PPT REC
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Oct 2024Transcript PPT
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Jul 2024Transcript PPT REC
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Jul 2024TranscriptAI SummaryPPT
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Apr 2024TranscriptPPT
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Jan 2024Transcript PPT
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Jan 2024TranscriptAI SummaryPPT
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Oct 2023Transcript PPT
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Jul 2023Transcript PPT
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May 2023Transcript PPT
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Jan 2023Transcript PPT
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Oct 2022TranscriptAI SummaryPPT
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Jul 2022TranscriptAI SummaryPPT
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Apr 2022TranscriptAI SummaryPPT
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Jan 2022Transcript PPT
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Oct 2021Transcript PPT
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Jul 2021Transcript PPT
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Apr 2021TranscriptAI SummaryPPT
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Mar 2021TranscriptPPT
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Jan 2021TranscriptAI SummaryPPT
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Oct 2020Transcript PPT
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Jul 2020Transcript PPT
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May 2020Transcript PPT
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Feb 2020TranscriptPPT
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Jan 2020TranscriptAI SummaryPPT
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Dec 2019TranscriptPPT
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Oct 2019Transcript PPT
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Jul 2019Transcript PPT
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Apr 2019Transcript PPT
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Feb 2019Transcript PPT
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Oct 2018Transcript PPT
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Jul 2018TranscriptAI SummaryPPT
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May 2018TranscriptPPT
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Apr 2018Transcript PPT
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Jan 2018TranscriptAI SummaryPPT
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Nov 2017Transcript PPT
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Aug 2017Transcript PPT
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May 2017Transcript PPT
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Jan 2017TranscriptAI SummaryPPT
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Oct 2016TranscriptAI SummaryPPT
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Jul 2016TranscriptAI SummaryPPT
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Feb 2016TranscriptAI SummaryPPT
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Oct 2015TranscriptPPT
Business Footprint:[1]
The company caters to diverse end-user industries like Pharmaceuticals, Animal Health, Agrochemicals, Consumer Packaged Goods, Chemicals/Polymers. It has 400+ active customers with engagements with 13 out of the top 15 global pharma companies. The company holds 400+ patents jointly with clients and has a base of 6000+ scientists.