One of the small-cap stocks engaged in manufacturing and markets of healthcare products. The stock has hit a 10 percent upper circuit after the announcement of its strong quarterly results. The company’s revenue increased by 60.26 percent YOY to Rs. 102.31 crore, and net profit increased by 70.66% QOQ to Rs. 53.43 crore.
Stock movement
The share price of Syncom Formulations (India) Limited hit a 10 percent upper circuit to Rs. 21.52 per share on Tuesday, a significant rise from its previous close of Rs. 20.08 per share. Since then, the share has retreated and is now trading at Rs. 21.49. The market capitalisation now stands at approximately Rs. 2,022.88 crores as of November 12, 2024.
Q2 FY25 Result Walkthrough
Coming into the quarterly results of Syncom Formulations (India) Limited, the company’s consolidated revenue from operations increased by 60.26 percent YOY, from Rs. 63.84 crore in Q2 FY24 to Rs. 102.31 crore in Q2 FY25, and grew by 18.57 percent QoQ from Rs. 86.29 crore in Q1 FY25.
In Q2 FY25, Syncom Formulations Limited’s consolidated net profit slightly increased by 70.66% YOY, reaching Rs. 11.11 crore compared to Rs. 6.51 crore during the same period last year. As compared to Q1 FY25, the net profit has increased by 45.61 percent, from Rs. 7.63 crore.
The basic earnings per share increased by 45.45% and stood at Rs 0.16 as against Rs 0.11 recorded in the previous quarter FY25.
In terms of return ratios, Syncom Formulations Limited’s share ROE and ROCE are currently at 8.51 percent and 10.2 percent, respectively. Syncom Formulations Limited has a debt-to-equity ratio of 0.04x, which shows the company is almost debt-free.
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Products Category
Syncom Formulations offers over 500 products under various brands, including Cratus Life Care and Cratus Evolve. Syncom is committed to customer satisfaction through competitive pricing and prompt delivery. Additionally, it engages in trading commodities and property rental, showcasing its diverse business operations in the healthcare sector.
Shareholding Pattern
As of the September 2024 shareholding pattern, Syncom Formulations Limited has majorly held a promoter by 50.57 percent, a foreign institutional investor by 0.10 percent, and the public by 49.34 percent.
About the company
Syncom Formulations (India) Limited was established in 1995 and is a prominent player in the Indian pharmaceutical industry. The company specializes in manufacturing and marketing a wide range of pharmaceutical formulations, including tablets, capsules, and injections. Its state-of-the-art facility in Pithampur adheres to WHO-GMP and ISO 9001-2015 standards, ensuring high-quality production practices.
Written By – Nikhil Naik
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