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.
On January 25, 2024. Syncom Formulations shares closed at ₹15.25 apiece, down 0.97 percent on the exchange. The company has a market capitalization of ₹1,433 crores.
The company’s revenue has increased by 15 percent yearly, from Rs 54 crore in Q2FY23 to Rs 62 crore in Q2FY24. During the same period, net profit increased by 72 percent from Rs 3.60 crore to Rs 6.21 crore.
The stock touched a 52-week high price of ₹18.65 per share on 09 January 2024. The company shares have delivered a multibagger return of 116% in the last six months, A shareholder investment of ₹1 lakh in the company, would be worth ₹2.16 lakhs in six months.
Syncom has its manufacturing facility at Pithampur, with a manufacturing capacity of 2 crores per annum in injectables production.
The company receives 95% of its revenue from the Pharmaceutical Drug & Formulations segment, followed by 1% from the Trading of Commodity, and 2% from Renting of Property, based on segment-wise data.
As well as based on the company’s Revenue Breakup Product-wise, the company receives 65% from tablets, followed by 19% from injectables,7% from capsules, and 4% from ointments.
In the recent fiscal year 2022-23, the company reported a net profit margin of 8.94 percent and a gross profit margin of 15.26 percent. Whereas the company has exhibited strong profitability ratios with a return on equity of 7.83 percent and a return on capital employed of 11.23 percent.
As of the December quarter of the shareholding pattern, the company promoter holds a 50.57 percent stake in the company, while retail investors hold a 49.44 percent stake in the company.
In FY22, The company incorporated 3 subsidiary companies, namely Synmex Pharma, Vincit Biotech International, and Sante Biotech.
Written by Omkar Chitnis
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