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Syncom Formulations (India) Limited (SYNCOMF)

₹21.95 +1.81% last close, 16 Oct

📊 NSE: SYNCOMF 🏢 Pharmaceuticals - Indian - Formulations 📢 Latest filing: 08 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Syncom Formulations' revenue was ₹126 Cr (+7.4% year on year, -7.0% on the previous quarter), and net profit ₹24.8 Cr (+57.7% year on year); the operating margin was 20.9%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹126	+7.4%	-7.0%
Operating profit	₹26.2	+65.8%	+19.1%
Net profit	₹24.8	+57.7%	-0.6%
EPS (₹)	0.26	+23.8%	-3.7%
Operating margin	20.9%	—	—

Full quarterly financials → Results calendar →

SYNCOMF delivery percentage and bulk deals

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 27.65% of the SYNCOMF shares traded on NSE were taken to delivery, against the stock's own 20-session average of 30.28%. That is close to its usual level. Volume was 0.3 times its average, well below normal. It closed at a price band (circuit) on 1 session in about the last 20. 18 bulk or block deals were reported in SYNCOMF in the last 60 days: ₹167 Cr bought and ₹169 Cr sold.

27.65%Delivery, 16 Oct

30.28%Own 20-session average

0.3×Volume vs its average

₹21.95NSE close · +1.81%

Delivery in the last 5 sessions: 23.6% · 36.1% · 25.3% · 40.0% · 27.6%

Date	Side	Counterparty	Value	Price	Quantity	Type
30 Sep	Buy	Qe Securities Llp	₹14.26 Cr	₹25.40	5,614,628	Bulk
30 Sep	Sell	Hrti Private Limited	₹14.00 Cr	₹25.39	5,513,184	Bulk
30 Sep	Sell	Qe Securities Llp	₹13.80 Cr	₹25.51	5,408,128	Bulk
30 Sep	Sell	Alphagrep Securities Private Limited	₹13.63 Cr	₹25.41	5,365,321	Bulk
30 Sep	Buy	Alphagrep Securities Private Limited	₹13.59 Cr	₹25.33	5,365,321	Bulk

Delivery across the market →Circuit stocks →All bulk and block deals →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Syncom Formulations Submits Dematerialization Compliance Certificate for Q2 FY27

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 08 Oct 2026, 03:14 PM

Syncom Formulations (India) Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30th September, 2026. The certificate from Registrar and Share Transfer Agent Ankit Consultancy Pvt. Ltd. confirms that share dematerialization requests received during the quarter were processed, mutilated, cancelled, and updated in the register within the mandated 15-day timeline. This is a recurring administrative filing confirming standard depository operations with zero impact on financials.

Compliance certificate submitted for the quarter ended 30th September, 2026
Confirmation of depository register updates within the stipulated 15 days
Certificate issued by Registrar and Share Transfer Agent Ankit Consultancy Pvt. Ltd. on 07/10/2026

💡 No action required on this procedural filing; investors should track upcoming Q2 FY27 financial results for operational updates.

Syncom Formulations Approves ₹0.10/Share Dividend and Key Board Appointments at 38th AGM

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 01 Oct 2026, 08:08 PM

Syncom Formulations (India) Limited announced the outcome of its 38th Annual General Meeting held on September 30, 2026. Shareholders approved an ordinary dividend of 10% (₹0.10 per equity share of face value ₹1) on 94,00,00,000 equity shares, totaling an outflow of ₹9.4 crore. Key management appointments were also approved, including Mr. Rahul Vijay Bankda as Managing Director and Mrs. Rinki Ankit Bankda as Whole-Time Director. Additionally, members ratified an increase in remuneration for CFO Mr. Ankur Vijay Bankda.

Declared 10% dividend of ₹0.10 per equity share (face value ₹1) on 94,00,00,000 equity shares
Total dividend payout implies ₹9.4 crore, representing under 1% of FY26 net profit
Approved appointment of Mr. Rahul Vijay Bankda (DIN: 00827827) as Managing Director
Approved appointment of Mrs. Rinki Ankit Bankda (DIN: 06946754) as Whole-Time Director
Approved remuneration hike for Chief Financial Officer Mr. Ankur Vijay Bankda

💡 Track the dividend payment record/credit dates and subsequent quarterly results to assess continuity in operating margins following executive leadership confirmations.

Syncom Formulations Shareholders Approve Appointment of Rahul Bankda as MD

🟡 NEUTRAL ⭐ 5/10

MANAGEMENT 📅 01 Oct 2026, 08:05 PM

Syncom Formulations (India) Limited announced shareholder approval at its 38th AGM held on September 30, 2026, for key leadership appointments. Shri Rahul Vijay Bankda has been appointed as Managing Director, effective retroactively from August 12, 2026. Additionally, Smt. Rinki Ankit Bankda was appointed as Whole Time Director effective August 12, 2026, and Smt. Ruchi Jindal was re-appointed as Woman Independent Director for a 5-year term from June 28, 2027.

Shareholders approved the appointment of Rahul Vijay Bankda as Managing Director effective August 12, 2026
Appointment of Rinki Ankit Bankda as Whole Time Director confirmed effective August 12, 2026
Re-appointment of Ruchi Jindal as Independent Director approved for a 5-year term ending June 27, 2032
AGM concluded on September 30, 2026, confirming decisions originally effected on August 12, 2026

💡 Monitor upcoming quarterly results to observe strategic continuity under the confirmed leadership team. Track whether the ongoing expansion efforts translate to steady margin performance.

Syncom Formulations Approves ₹0.10/Share Dividend and Key Board Appointments at 38th AGM

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 01 Oct 2026, 08:02 PM

Declared 10% dividend of ₹0.10 per equity share (face value ₹1) on 94,00,00,000 equity shares
Total dividend payout implies ₹9.4 crore, representing under 1% of FY26 net profit
Approved appointment of Mr. Rahul Vijay Bankda (DIN: 00827827) as Managing Director
Approved appointment of Mrs. Rinki Ankit Bankda (DIN: 06946754) as Whole-Time Director
Approved remuneration hike for Chief Financial Officer Mr. Ankur Vijay Bankda

💡 Track the dividend payment record/credit dates and subsequent quarterly results to assess continuity in operating margins following executive leadership confirmations.

Syncom Formulations Concludes 38th AGM; Approves ₹0.10/Share Dividend on 94 Cr Shares

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 01 Oct 2026, 07:58 PM

Syncom Formulations held its 38th Annual General Meeting on September 30, 2026, with 73 members attending via VC/OAVM against a required quorum of 30. Key ordinary and special businesses transacted included the declaration of a 10% dividend of ₹0.10 per share on 94,00,00,000 equity shares (amounting to ₹9.4 crore). Other agenda items included the appointment of Mr. Rahul Vijay Bankda as Managing Director, appointment of Mrs. Rinki Ankit Bankda as Whole-Time Director, and remuneration revision for CFO Mr. Ankur Vijay Bankda. Scrutinizer e-voting results are expected within two working days.

Declared 10% dividend of ₹0.10 per equity share of face value ₹1 on 94,00,00,000 equity shares
73 members attended the AGM against the statutory quorum requirement of 30 members
Transacted 10 resolutions including MD appointment of Rahul Vijay Bankda and WTD appointment of Rinki Ankit Bankda
Voting results along with Scrutinizer Report to be submitted within 2 working days

💡 Track the formal disclosure of the scrutinizer voting results within two working days to confirm the formal adoption of all resolutions, including management appointments and the dividend payout timeline.

Syncom Formulations Concludes 38th AGM; Approves ₹0.10/Share Dividend on 94 Cr Shares

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 30 Sep 2026, 06:00 PM

Declared 10% dividend of ₹0.10 per equity share of face value ₹1 on 94,00,00,000 equity shares
73 members attended the AGM against the statutory quorum requirement of 30 members
Transacted 10 resolutions including MD appointment of Rahul Vijay Bankda and WTD appointment of Rinki Ankit Bankda
Voting results along with Scrutinizer Report to be submitted within 2 working days

Promoters Waive ₹4.75 Cr Final FY26 Dividend; Net Outgo Halved to ₹4.65 Cr

🟢 POSITIVE ⭐ 5/10

DIVIDEND 📅 26 Sep 2026, 02:20 PM

Syncom Formulations announced that its Promoters and Promoter Group have voluntarily and unconditionally waived their entitlement to the proposed final dividend of ₹0.10 per share for FY26. Of the total 94,00,00,000 equity shares, promoters hold 47,53,47,599 shares (approx. 50.57%), resulting in a waiver of ₹4.75 crore. Consequently, the total dividend payout will decrease from ₹9.40 crore to ₹4.65 crore, preserving cash within the business. The dividend remains subject to shareholder approval at the upcoming AGM.

Promoters holding 47,53,47,599 equity shares voluntarily waived final dividend entitlement
Proposed final dividend of ₹0.10 per equity share (face value ₹1 each) for FY26
Total dividend commitment drops from ₹9,40,00,000 to ₹4,64,65,240.10
Waiver amount retained by the company stands at ₹4,75,34,759.90 without consideration
Net dividend to be distributed across 46,46,52,401 public equity shares

💡 Track shareholder voting on the final dividend resolution at the upcoming AGM and monitor how the retained capital is deployed towards ongoing operations or capacity.

Syncom Formulations Sets Record Date of Sept 23, 2026 for ₹0.10/Share Dividend

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 18 Sep 2026, 11:55 AM

Syncom Formulations (India) Limited has scheduled Wednesday, September 23, 2026, as the record date to determine eligibility for a final dividend of ₹0.10 per equity share (10% on a face value of ₹1) for FY26. The dividend payout is subject to shareholder approval at the 38th Annual General Meeting scheduled for September 30, 2026. Shareholders wishing to waive their dividend must submit the waiver form by September 26, 2026.

Dividend rate declared at 10% or ₹0.10 per equity share of face value ₹1 for FY26
Record date fixed as Wednesday, September 23, 2026
38th Annual General Meeting to take place on September 30, 2026, at 2:00 PM via VC/OAVM
Dividend waiver submission deadline set for September 26, 2026

💡 Track the outcome of the 38th AGM on September 30, 2026, for shareholder approval of the dividend payout and management commentary.

Syncom Formulations Submits FY26 Business Responsibility and Sustainability Report

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Sep 2026, 07:27 PM

Syncom Formulations (India) Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for the financial year ended March 31, 2026. The submission complies with Regulation 34(2)(f) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company noted that it is also filing the report in XBRL format and making it available on its website. This is a mandatory annual disclosure with no direct financial implications.

Submitted Business Responsibility and Sustainability Report (BRSR) for FY ended March 31, 2026
Filing made pursuant to SEBI LODR Regulation 34(2)(f)
Report to be hosted on company website and submitted in XBRL format

💡 No action required as this is a routine regulatory filing. Investors tracking ESG disclosures may review the report on the company's website.

Syncom Formulations Submits FY 2025-26 Business Responsibility and Sustainability Report

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Sep 2026, 07:26 PM

Syncom Formulations (India) Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for the financial year ended March 31, 2026, pursuant to Regulation 34(2)(f) of SEBI LODR Regulations. The filing is a standard annual statutory disclosure detailing Environmental, Social, and Governance (ESG) practices. The company noted it is also in the process of filing the report in XBRL format and publishing it on its website. There is no immediate operational or financial impact from this administrative filing.

Submitted Business Responsibility and Sustainability Report (BRSR) for FY 2025-26
Filing made under Regulation 34(2)(f) of SEBI (LODR) Regulations, 2015
Filing in XBRL format underway as per compliance requirements
Annual reporting period ended 31st March, 2026

💡 This is a routine annual compliance filing with no operational changes; investors should monitor upcoming quarterly earnings and core pharmaceutical segment margin trends.

Syncom Formulations to Convene 38th AGM on September 30, 2026 via Video Conferencing

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Sep 2026, 07:20 PM

Syncom Formulations (India) Limited has issued the notice for its 38th Annual General Meeting scheduled for Wednesday, September 30, 2026, at 2:00 PM IST. The meeting will be conducted virtually through Video Conferencing (VC) / Other Audio Visual Means (OAVM). The deemed venue for the proceedings is the company's registered office in Andheri (East), Mumbai. This is a standard statutory compliance disclosure with no direct operational or financial impact.

38th Annual General Meeting scheduled for Wednesday, September 30, 2026 at 2:00 P.M.
Meeting to be held virtually via Video Conferencing (VC) / Other Audio Visual Means (OAVM)
Registered office in Andheri (East), Mumbai designated as the deemed venue

💡 Track the AGM voting outcomes and any key management commentary regarding pharma growth and capacity expansion following the meeting on September 30, 2026.

58% PAT Growth to ₹24.85 Cr in Q1 FY27; ₹0.10 Dividend Recommended

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 13 Aug 2026, 05:48 PM

Syncom Formulations reported a strong Q1 FY27 with Profit After Tax (PAT) rising 58% YoY to ₹24.85 crore, significantly outpacing revenue growth. Total income for the quarter reached ₹133.36 crore, up 8% from ₹122.94 crore in the previous year. The company demonstrated sharp margin expansion, with Profit Before Tax (PBT) surging 59% to ₹32.25 crore. Additionally, the board recommended a final dividend of ₹0.10 per share for FY26, reflecting a 10% payout on face value.

Profit After Tax (PAT) increased 58% YoY to ₹24.85 crore from ₹15.75 crore.
Profit Before Tax (PBT) rose 59% YoY to ₹32.25 crore, representing a 24.2% margin.
Revenue from operations grew 7% YoY to ₹125.53 crore.
Recommended a final dividend of ₹0.10 per equity share for the financial year ended March 31, 2026.
Maintains a pan-India field force of over 1,000 medical representatives across 6 specialized divisions.

💡 Monitor the sustainability of the improved 24.2% PBT margin in upcoming quarters and track the progress of the commercial property acquisition from HDFC Bank intended for infrastructure expansion.

Resignation of Whole-Time Director Kedarmal Shankarlal Bankda Effective August 11, 2026

🟡 NEUTRAL ⭐ 7/10

MANAGEMENT 📅 13 Aug 2026, 05:08 PM

Syncom Formulations (India) Limited has announced the resignation of Mr. Kedarmal Shankarlal Bankda (DIN: 00023050) from his position as Whole-Time Director, effective August 11, 2026. The resignation letter was received by the company on August 8, 2026, at 10:35 AM. The company stated the departure is intended to facilitate timely succession planning and to allow the director to focus on health and well-being. This change occurs as the company manages a TTM revenue of ₹12,539 cr and maintains a high ROCE of 27.0%.

Resignation of Whole-Time Director effective from August 11, 2026
Resignation letter received by the company on August 8, 2026, at 10:35 AM
Company reports TTM revenue of ₹12,539 cr and TTM PAT of ₹1,720 cr
Pharma segment currently contributes 98.8% of total company revenue
Promoter holding remains stable at 50.57% as of June 2026

💡 Investors should monitor the company's upcoming announcements regarding the appointment of a new Whole-Time Director to ensure leadership continuity in the core pharmaceutical formulations segment.

Resignation of Whole-Time Director Kedarmal Shankarlal Bankda Effective August 11, 2026

🟡 NEUTRAL ⭐ 7/10

MANAGEMENT 📅 13 Aug 2026, 05:03 PM

Syncom Formulations (India) Limited has announced the resignation of Mr. Kedarmal Shankarlal Bankda from his position as Whole-Time Director, effective August 11, 2026. The resignation, received on August 8, 2026, is attributed to succession planning, health considerations, and ensuring an orderly transition of leadership. Given the company's significant market capitalization of Rs 30,164 crore and TTM revenue of Rs 12,539 crore, this leadership change is notable for maintaining operational continuity. The company is currently experiencing strong growth, with its core Pharma segment growing at 30.5% YoY.

Resignation of Whole-Time Director effective from August 11, 2026
Resignation letter was received by the company on August 8, 2026, at 10:35 AM
Company maintains a large market capitalization of Rs 30,164 crore
TTM Revenue stands at Rs 12,539 crore with a 15.1% operating margin
Promoter holding remains stable at 50.57% as of June 2026

💡 Investors should monitor the company's upcoming announcements regarding the appointment of a successor to ensure leadership continuity and track if the 28% expected growth rate remains on target.

Syncom Formulations Announces Major Leadership Succession; New MD and CFO Appointed

🟡 NEUTRAL ⭐ 7/10

MANAGEMENT 📅 11 Aug 2026, 07:19 PM

Syncom Formulations has implemented a comprehensive leadership transition effective August 12, 2026, as part of a planned succession strategy. Shri Rahul Vijay Bankda, who has 23 years of experience and previously served as CFO, has been elevated to Managing Director. Simultaneously, Shri Ankur Vijay Bankda, also with 23 years of experience, has been appointed as the new Chief Financial Officer. These changes follow the resignations of the outgoing Managing Director and Whole-time Director, ensuring the next generation of the promoter group takes over key executive functions.

Shri Rahul Vijay Bankda appointed as Managing Director, bringing 23 years of diversified business experience
Shri Ankur Vijay Bankda appointed as Chief Financial Officer with 23 years of experience in financial management
Smt. Rinki Ankit Bankda appointed as Whole-time Director with 13 years of professional experience
Resignation of Shri Vijay Shankarlal Bankda (MD) and Shri Kedarmal Shankarlal Bankda (WTD) effective August 11, 2026
Reappointment of Smt. Ruchi Jindal as Woman Independent Director for a term starting June 29, 2027

💡 Investors should monitor if the new leadership maintains the company's current growth trajectory (30.5% YoY in Pharma) and high ROCE of 27.0%.

View All SYNCOMF Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Pharmaceuticals Drugs & Formulations revenue grew 30.5% YoY to INR 246.98 Cr in H1 FY26. Trading of Commodities revenue fell 72.7% to INR 1.05 Cr. Renting of Property revenue decreased 3% to INR 1.88 Cr.

Profitability Margins

Net Profit Margin (based on Total Comprehensive Income) improved to 14.5% in H1 FY26 from 13.0% in H1 FY25. Profit Before Tax (PBT) margin increased significantly to 16.9% from 12.8% YoY.

EBITDA Margin

EBITDA margin is approximately 18.2% for H1 FY26 (INR 45.50 Cr EBITDA on INR 249.90 Cr revenue), up from approximately 15.8% in H1 FY25.

Capital Expenditure

Not explicitly disclosed, but the company accepted a material bid for a commercial property from HDFC Bank in November 2025, indicating significant upcoming investment in fixed assets.

Credit Rating & Borrowing

Borrowing costs are minimal, with finance costs of INR 0.52 Cr in H1 FY26, representing only 0.2% of total revenue.

⚙️ Operational Drivers

Raw Materials

Active Pharmaceutical Ingredients (APIs) and excipients; specific percentage of total cost not disclosed.

Capacity Expansion

Infrastructure expansion is planned via the acquisition of a material commercial property from HDFC Bank accepted on November 22, 2025.

Raw Material Costs

Not disclosed as a specific percentage of revenue, but the company saw an inventory reduction of INR 12.82 Cr, suggesting efficient use of existing stock.

📈 Strategic Growth

Expected Growth Rate

28%

Growth Strategy

The company is focusing on its core Pharmaceutical segment, which saw 30.5% YoY growth. The acquisition of a material commercial property from HDFC Bank in Nov 2025 suggests expansion of administrative or operational footprint to support this growth. Cost optimization is evident as segment profits grew faster (73.6%) than revenue (30.5%).

Products & Services

Pharmaceutical drugs and formulations (medicines).

Strategic Alliances

The company operates through three wholly-owned subsidiaries: Synmex Pharma Pvt. Ltd., Sante Biotech Pvt. Ltd., and Vincit Biotech International Pvt. Ltd.

🌍 External Factors

Industry Trends

The Indian pharmaceutical industry is growing at 10-12% CAGR, but Syncom is outperforming at 30.5% YoY. The industry is moving towards stricter compliance and digital manufacturing.

Competitive Landscape

Operates in the highly competitive Indian generic pharmaceutical market with numerous domestic players.

Competitive Moat

Syncom's moat lies in its integrated manufacturing setup in Pithampur and its ability to scale the Pharma segment profitably (margins improved from 12.5% to 16.6% YoY). This cost leadership is a durable advantage in the generic drug market.

Macro Economic Sensitivity

Low sensitivity to interest rates due to minimal finance costs (0.2% of revenue).

Consumer Behavior

Increasing demand for affordable healthcare and generic formulations.

⚖️ Regulatory & Governance

Industry Regulations

Pharmaceutical manufacturing is subject to GMP (Good Manufacturing Practices) and pricing controls under the Drug Price Control Order (DPCO).

Taxation Policy Impact

Effective tax rate is approximately 14% based on H1 FY26 results.

⚠️ Risk Analysis

Key Uncertainties

Concentration risk in the pharma segment (98.8% of revenue); any regulatory crackdown on manufacturing sites (Pithampur) could halt nearly all revenue.