A prominent Indian life sciences research and development company is preparing to execute a notable block deal involving an equity stake reduction. Investors and market watchers are closely observing this development, which involves the promoter group divesting approximately 2% of its shareholding. The upcoming block deal is estimated at around Rs. 660 crore.
Share Price Movement
The share price of Syngene International Limited went up by 3.57 percent to Rs. 898 per share on Tuesday, an increase from its previous close of Rs. 867.9 per share. The market capitalisation now stands at approximately Rs. 35,499 crore as of December 10, 2024.
Block Deal
Biocon, the primary promoter of Syngene International, conducted a block deal involving a 2% stake (82.2 lakh shares) at ₹858.5 per share, totalling Rs. 706 Crore. The transaction triggers a 60-day lock-in period, affecting the CDMO company’s shareholding, with Biocon retaining 54.45% ownership.
Q2 Financial Highlights
According to its recent filing, in the quarter ending September 2024, Syngene International’s consolidated revenue from operations has decreased by 2.08 percent YOY from Rs. 910 crore in Q2 FY24 to Rs. 790 crore in Q2 FY25 and increased by 12.78 percent QoQ from Rs. 790 crore in Q4 FY24.
The company’s consolidated net profit has decreased by 8.62 percent, from Rs. 116 crore in Q2 FY24 to Rs. 106 crore in Q2 FY25. As compared to the last quarter of 2025, the company’s net profit has increased by 39.47 percent QoQ from Rs. 79 crore.
Market Outlook
The Indian healthcare industry is experiencing a period of strong demand and attractive opportunities. India’s public expenditure on healthcare is increasing, and the industry is witnessing unprecedented growth, with private equity and venture capital investments exceeding US$1 billion.
The availability of a large pool of well-trained medical professionals, along with the rising number of recognised medical qualifications, further strengthens the industry’s potential. Additionally, the Indian government is focusing on transforming the healthcare sector through increased digital infrastructure and a revised health expenditure, aiming to boost the country’s healthcare accessibility and innovation.
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Shareholding Pattern
As of the September 2024 shareholding pattern, Syngene International Limited is primarily held by the promoters at 54.72 percent, foreign institutional investors hold 20.72 percent, and the public with 6.74 percent.
About Company
Syngene International Limited, based in Bangalore, India, is a leading integrated research, development, and manufacturing services organisation. Established in 1993 as a subsidiary of Biocon Ltd., the company specialises in offering contract research and manufacturing services to the pharmaceutical and biotechnology industries.
Syngene was founded on November 18, 1993, as Syngene International Private Limited, before becoming a public limited company in 2007. The company’s headquarters are located at Biocon Park, Bommasandra Industrial Area, Bangalore, Karnataka, India. Led by CEO Jonathan Hunt since March 2016, Syngene employs approximately 6,510 people.
Syngene provides a wide array of services, including:
- Discovery Services: Covering medicinal chemistry, biology, in vivo pharmacology, and toxicology.
- Development Services: Encompassing preclinical and clinical development for small molecules and biologics.
- Manufacturing Services: Offering commercial-scale manufacturing capabilities compliant with cGMP for active pharmaceutical ingredients (APIs) and biologics. The proprietary SynVent platform facilitates drug discovery projects from target validation to preclinical development.
Serving a diverse range of clients, including global pharmaceutical companies, biotechnology firms, and the nutrition and speciality chemicals sectors, Syngene emphasises innovation and flexibility. The company’s operational strategy acts as an extension of its clients’ scientific teams.
Syngene is committed to sustainability, with an Environmental, Social, and Governance (ESG) strategy aimed at reducing its environmental footprint and achieving zero waste to landfill across all sites. 82% of its electricity consumption comes from renewable sources. With over three decades of experience, Syngene International Limited continues to thrive as a trusted partner in the global life sciences sector, poised for future growth.
Written By Fazal Ul Vahab C H
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