Syncom Formulations Share Price

Syncom Formulations (India) Limited is engaged in manufacturing pharmaceutical drugs and formulation and trading commodities. The company also has business interests in renting and leasing properties. It manufactures and markets over 500 pharmaceutical drugs in various dosage forms, including tablets, liquid orals, vials, capsules, ointments, dry powder and ampoule injections. Syncom Formulations's manufacturing facility is located in Madhya Pradesh's Pithampur. Established in 1995, the unit is equipped with modern machinery and has WHO-GMP and ISO 9001-2015 certification. The company's marketing network is established in nearly 25 countries, selling over 400 registered drugs.

Business operations

Syncom Formulations (India) was originally incorporated as a private company in 1988. It became a public entity in 1992. The company set up its first manufacturing facility in Mahrashtra's Palghar and began production in 1989. As part of its expansion efforts, it set up a new unit in Madhya Pradesh's Pithampur. The company raised funds for this facility through a public issue made in 1994. In 1998, the company introduced a range of prescription formulations. The next year, the company expanded its production capacity and further introduced new products. By 2000, the company was exporting drugs to Guinea, Ghana, Kenya, Tanzania, Nigeria, Azerbaijan, Nepal and Sri Lanka.

The company also received approval as a supplier to Central ESI Hospitals and was registered for defence services, resulting in improved sales volume. The company entered into the herbal products segments, boosting its manufacturing and marketing of products like Edicare Attom Megacaps Ecziguard and Yas antacid salt.

Syncom Formulations expanded its tablet division by introducing high-speed mega press machines. The company increased its capacity in the tablet section by over 30% and nearly doubled its capacity in the capsule section.

The company launched a new division Cratus Life Care in 2007. This division is involved in looking after the domestic market's needs. The name is derived from Hippocrates - known as the Father of Medicine. The company later entered the specialist segment of “Reproductive Medicine & Women’s Care” by launching a dedicated division Cratus Evolve.

As of January 19, 2024, Syncom Formulations (India) Limited's market capitalisation is valued at over ₹1,400 crore. Syncom Formulations share price has moved up by over 300% in the last three years.

Financial highlights

– Syncom Formulations Limited's revenue from operations in FY23 was ₹224.25 crore, a 2% year-on-year growth from ₹219.7 crore in the last financial year. – The company reported a net profit of ₹20 crore in FY23 as against a profit of ₹19.8 crore in FY22. – The earnings before interest, tax, depreciation and amortization (EBITDA) increased to ₹34.2 crore from the previous year's ₹32 crore. – Its earnings per share (EPS) dropped to ₹0.24 in FY23 from ₹0.26 in the last financial year.