Syngene International Ltd

Syngene International Ltd

₹ 778 -2.42%
21 Sep - close price
About

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]

Key Points

Business Footprint:[1][2]
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 8 out of the top 10 global pharma companies. The company holds 400+ patents jointly with clients and has a base of 5200+ scientists.

  • Market Cap 31,263 Cr.
  • Current Price 778
  • High / Low 860 / 535
  • Stock P/E 64.6
  • Book Value 90.1
  • Dividend Yield 0.06 %
  • ROCE 14.5 %
  • ROE 13.4 %
  • Face Value 10.0

Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 8.63 times its book value
  • Company has a low return on equity of 14.0% over last 3 years.
  • Dividend payout has been low at 6.98% of profits over last 3 years
  • Promoter holding has decreased over last 3 years: -16.4%

* 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

Consolidated Figures in Rs. Crores / View Standalone

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023
422 520 584 659 594 610 641 758 644 768 786 994 808
297 364 408 443 430 433 438 508 472 552 555 680 596
Operating Profit 124 156 176 215 165 177 203 250 173 216 231 314 212
OPM % 30% 30% 30% 33% 28% 29% 32% 33% 27% 28% 29% 32% 26%
15 14 17 53 12 -18 13 15 16 15 17 23 24
Interest 7 7 7 7 8 1 9 6 9 12 14 10 10
Depreciation 66 69 70 70 75 76 78 80 86 90 95 96 102
Profit before tax 66 94 116 192 95 82 128 179 93 130 140 231 123
Tax % 13% 11% 12% 16% 18% 19% 19% 17% 20% 22% 22% 23% 24%
58 84 102 161 77 67 104 148 74 102 110 179 93
EPS in Rs 1.45 2.10 2.56 4.02 1.93 1.66 2.59 3.69 1.84 2.54 2.73 4.45 2.32
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,423 1,826 2,012 2,184 2,604 3,193 3,356
949 1,289 1,394 1,507 1,861 2,251 2,383
Operating Profit 474 537 618 678 743 942 974
OPM % 33% 29% 31% 31% 29% 30% 29%
53 75 153 94 75 63 79
Interest 23 32 35 28 24 45 46
Depreciation 131 164 219 274 310 366 382
Profit before tax 372 415 517 469 484 594 624
Tax % 18% 20% 20% 14% 18% 22%
305 332 412 405 396 464 484
EPS in Rs 7.64 8.29 10.30 10.12 9.88 11.57 12.04
Dividend Payout % 7% 3% 0% 0% 10% 11%
Compounded Sales Growth
10 Years: %
5 Years: 18%
3 Years: 17%
TTM: 26%
Compounded Profit Growth
10 Years: %
5 Years: 10%
3 Years: 9%
TTM: 16%
Stock Price CAGR
10 Years: %
5 Years: 19%
3 Years: 12%
1 Year: 38%
Return on Equity
10 Years: %
5 Years: 15%
3 Years: 14%
Last Year: 13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
200 200 400 400 401 401
Reserves 1,520 1,768 1,776 2,421 2,897 3,217
787 813 773 893 1,022 815
681 922 1,214 1,169 1,245 1,398
Total Liabilities 3,189 3,704 4,163 4,883 5,564 5,831
1,030 1,377 2,020 2,201 2,393 2,667
CWIP 155 274 234 237 346 177
Investments 158 716 776 702 1,034 918
1,846 1,337 1,133 1,743 1,790 2,069
Total Assets 3,189 3,704 4,163 4,883 5,564 5,831

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
446 630 677 701 581 824
-349 -646 -424 -629 -611 -653
-79 -72 -226 58 -31 -342
Net Cash Flow 18 -88 28 130 -62 -172

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 68 68 72 79 71 61
Inventory Days 82 30 18 41 87 141
Days Payable 195 154 156 167 113 109
Cash Conversion Cycle -44 -56 -66 -47 45 92
Working Capital Days -28 -65 -115 -20 -3 -1
ROCE % 17% 17% 14% 13% 15%

Shareholding Pattern

Numbers in percentages

27 Recently
Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023
70.61% 70.59% 70.58% 70.43% 70.42% 70.41% 70.41% 70.29% 64.86% 64.86% 54.88% 54.80%
14.58% 14.32% 14.25% 14.42% 14.09% 13.84% 13.69% 14.15% 16.79% 16.87% 23.31% 23.19%
6.68% 5.78% 5.27% 4.75% 4.80% 4.41% 4.41% 4.18% 6.75% 7.03% 10.71% 11.20%
7.39% 8.58% 9.19% 9.49% 9.82% 10.61% 10.81% 10.56% 11.11% 10.77% 10.65% 10.23%
0.74% 0.73% 0.71% 0.90% 0.86% 0.72% 0.68% 0.83% 0.49% 0.47% 0.46% 0.60%
No. of Shareholders 80,8351,01,2321,15,6321,26,3951,36,7491,37,8921,33,6101,28,2781,34,3341,27,9641,24,0141,25,455

* 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.

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