Syngene International Limited (SYNGENE)

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Syngene International Limited (SYNGENE) · mywealthgrid

About

Syngene provides healthcare research, analytics, technology services. Market cap ₹16,206 Cr, operates at scale in India's outsourced healthcare sector. Zero debt (D/E 0).

Founded: 1994
Face value: ₹10

Market cap

₹14,586 Cr

P/E

66.0×

P/B

3.0×

Dividend yield

0.7%

ROE

6.6%

ROCE

9.8%

Debt / equity

OPM

24.6%

EPS (TTM)

₹5.5

Book value

₹120.1

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Profitability collapsed: Jun 2026 net losses ₹-2.1 to ₹-9 Cr vs ₹148 Cr in Mar 2026; OPM fell from 29.6% to 11.8%. Verify root cause and recoverability.
Extreme valuation (PE 73.33) leaves minimal margin of safety if profitability deteriorates.
Poor capital efficiency: ROE 6.62% suggests ineffective capital deployment. Verify what constrains returns.
FII holdings fell from 13.9% to 11.82% concurrent with 40% stock decline. Verify whether exits signal known headwinds.

Generated analysis · source review pending

Growth drivers

Zero debt (D/E 0) enables capital-flexible organic growth or M&A.
Mar 2026 achieved ₹1,036 Cr revenue, 29.6% OPM; recovery from Jun 2026 losses would restore substantial profit.
Healthcare research supports pharma innovation; verify market growth, competitive intensity, Syngene's positioning.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹361.3-1.6%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 24.6%
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 11×
+Dividend payout of 45.7% of profit

Cons

−Low return on equity of 10.2% (3-yr avg)
−Profit declined 4.8% a year over the last 5 years
−Expensive at 66× trailing earnings

Research score

Structured signal from quality, growth, valuation and momentum.

31/100

Business quality: 52
Growth: 5

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 50 NIFTY SMALLCAP 100 NIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Syngene International LimitedSYNGENESYNGENE	₹14,586 Cr	₹14,595 Cr	₹3,600 Cr	₹803 Cr	24.6%	₹221 Cr	8.5%	9.8%	6.6%	-32
Indegene LimitedINDGNINDGN	₹14,303 Cr	₹14,303 Cr	₹3,813 Cr	₹638 Cr	17.6%	₹401 Cr	11.4%	17.9%	13.9%	79
Suven Life Sciences LimitedSUVENSUVEN	₹8,139 Cr	₹8,139 Cr	₹9 Cr	₹-366 Cr	—	₹-352 Cr	—	-78.4%	-78.8%	72
Vimta Labs LimitedVIMTALABSVIMTALABS	₹2,612 Cr	₹2,631 Cr	₹336 Cr	₹112 Cr	27.3%	₹61 Cr	12.9%	17.4%	13.6%	179
Bilcare LimitedBIBI	₹227 Cr	₹896 Cr	₹788 Cr	₹45 Cr	5.7%	₹-29 Cr	-7.1%	1.5%	-6%	78
Take Solutions LimitedTAKETAKE	₹187 Cr	₹187 Cr	₹85 Cr	₹-2 Cr	-3.5%	₹13 Cr	20%	18.5%	42.1%	-7
Jeevan Scientific Technology LtdJSTLJSTL	₹169 Cr	₹186 Cr	₹62 Cr	₹10 Cr	16%	₹0 Cr	1.7%	5.4%	1.7%	-109
Novelix Pharmaceuticals LtdNOVELIXNOVELIX	₹167 Cr	₹167 Cr	₹9 Cr	₹-3 Cr	-29.9%	₹-2 Cr	-23.6%	-28.1%	-28.5%	57
Globalspace Technologies LtdGSTLGSTL	₹103 Cr	—	₹25 Cr	₹11 Cr	5.9%	₹7 Cr	-1.4%	—	—	—
Adeshwar Meditex LtdADESHWARADESHWAR	₹23 Cr	—	₹56 Cr	₹3 Cr	4.9%	₹1 Cr	2.3%	—	—	—
Vanta Bioscience LtdVANTABIOVANTABIO	₹15 Cr	—	₹2 Cr	₹1 Cr	56.6%	₹0 Cr	6%	—	—	—

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,826	2,012	2,184	2,604	3,193	3,489	3,642	3,739
COGS	531	519	527	749	860	930	943	919
Gross profit	1,294	1,493	1,658	1,855	2,333	2,558	2,700	2,820
	758	875	986	1,059	1,398	1,544	1,658	1,902
	537	618	672	796	934	1,014	1,042	919
OPM %	29.4%	30.7%	30.8%	30.6%	29.3%	29.1%	28.6%	24.6%
Depreciation	164	219	275	310	367	426	433	453
Interest	32	35	28	24	45	47	53	49
	75	153	100	22	71	80	104	-6
Profit before tax	415	517	469	484	594	621	660	411
Tax	84	105	64	89	129	111	164	94
Tax %	20.2%	20.3%	13.7%	18.3%	21.8%	17.9%	24.8%	22.9%
	332	412	405	396	464	510	496	317
PAT margin %	18.2%	20.5%	18.5%	15.2%	14.5%	14.6%	13.6%	8.5%
EPS (₹)	16.8	10.4	10.2	9.9	11.6	12.7	12.4	7.9
EPS adjusted (₹)	8.3	10.3	10.1	9.9	11.6	12.7	12.3	7.9
	3%	0%	0%	10.1%	10.8%	9.8%	10.1%	15.9%
Annual report	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	200	400	400	401	401	402	403	403
Reserves	1,520	1,776	2,421	2,897	3,217	3,856	4,324	4,436
	—	309	772	790	575	142	120	9
	1,469	1,678	1,290	1,477	1,638	1,752	1,950	2,206
Total equity & liabilities	3,189	4,163	4,883	5,564	5,831	6,152	6,796	7,055
	1,337	1,984	2,163	2,354	2,619	2,809	2,767	2,969
CWIP	—	234	237	346	177	837	1,261	1,040
Investments	—	812	740	1,073	967	589	681	773
	3,189	1,133	1,743	1,791	2,069	1,917	2,086	2,273
Total assets	3,189	4,163	4,883	5,564	5,831	6,152	6,796	7,055

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	70.9%	74.2%	75.9%	71.2%	73.1%	73.3%	74.1%	75.4%
EBITDA margin %	29.4%	30.7%	30.8%	30.6%	29.3%	29.1%	28.6%	24.6%
EBIT margin %	20.4%	19.8%	18.2%	18.7%	17.8%	16.9%	16.7%	12.5%
PAT margin %	18.2%	20.5%	18.5%	15.2%	14.5%	14.6%	13.6%	8.5%
Working capital
Receivable days	—	72	79	71	61	46	53	50
Inventory days	59	18	41	87	141	94	60	56
Payable days	—	156	167	113	109	100	136	138
NWC days	—	-66	-47	45	92	40	-23	-32
Leverage
Current ratio	2.2	1.1	1.59	1.8	2.04	1.71	1.64	1.38
Debt to EBITDA	—	0.5	1.15	0.99	0.62	0.14	0.11	0.01
Debt to equity	—	0.14	0.27	0.24	0.16	0.03	0.03	0
Interest coverage	13.9	13.9	16.7	22.4	14.1	14.4	12.8	11
Asset turnover	0.57	0.48	0.45	0.47	0.55	0.57	0.54	0.53
Return ratios
Return on assets %	10.4%	9.9%	8.3%	7.1%	8%	8.3%	7.3%	4.5%
Return on capital employed %	18.6%	19.1%	14.5%	13.3%	14.2%	14.1%	13.1%	9.8%
Return on equity %	19.3%	18.9%	14.4%	12%	12.8%	12%	10.5%	6.5%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	54.79%	54.79%	54.79%	54.72%	54.72%	52.74%	52.74%	52.68%	52.68%	52.68%	52.68%	52.59%
	23.55%	21.2%	20.92%	20.63%	20.72%	20.64%	19.47%	16.5%	16.31%	14.96%	13.9%	11.82%
	11.71%	14.64%	15.8%	16.8%	17.48%	19.53%	21.5%	24.05%	24.62%	25.84%	26.44%	28.02%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	9.46%	9.05%	8.18%	7.42%	6.74%	6.8%	6%	6.45%	6.08%	6.22%	6.69%	7.14%
No. of shareholders	—	—	—	—	—	—	—	—	1,36,061	1,31,750	1,35,605	1,42,277

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 13 fund houses

Held by these funds

22.25%

of the company's equity

All mutual funds

25.78%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

68 schemes · 13 fund houses

		Shares
SMALL CAP FUND	Nippon India Mutual Fund	1.33 Cr	533.9	0.65%	3.3%	+8.59 L
Multi Cap FundNEW	ICICI Prudential Mutual Fund	79.51 L	318.63	1.63%	1.969%	—
Multi Asset Allocation Fund	SBI Mutual Fund	70 L	280.53	1.34%	1.734%	-0
Multi Cap FundNEW	Nippon India Mutual Fund	65.81 L	263.74	0.47%	1.63%	—
Focused Fund	Nippon India Mutual Fund	59.96 L	240.29	2.78%	1.485%	-0
Healthcare FundNEW	ICICI Prudential Mutual Fund	57.48 L	230.35	3.29%	1.424%	—
ELSS Tax Saver Fund	DSP Mutual Fund	39.03 L	156.42	0.94%	0.967%	-0
ELSS – Tax Saver Fund	ICICI Prudential Mutual Fund	37.7 L	151.09	1.06%	0.934%	-0

1–8 of 68

1 / 9

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

164 announcementsExport CSV

21 Sept 2026, 10:56 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	70.9%	74.2%	75.9%	71.2%	73.1%	73.3%	74.1%	75.4%
EBITDA margin %	29.4%	30.7%	30.8%	30.6%	29.3%	29.1%	28.6%	24.6%
EBIT margin %	20.4%	19.8%	18.2%	18.7%	17.8%	16.9%	16.7%	12.5%
PAT margin %	18.2%	20.5%	18.5%	15.2%	14.5%	14.6%	13.6%	8.5%
Working capital
Receivable days	—	72	79	71	61	46	53	50
Inventory days	59	18	41	87	141	94	60	56
Payable days	—	156	167	113	109	100	136	138
NWC days	—	-66	-47	45	92	40	-23	-32
Leverage
Current ratio	2.2	1.1	1.59	1.8	2.04	1.71	1.64	1.38
Debt to EBITDA	—	0.5	1.15	0.99	0.62	0.14	0.11	0.01
Debt to equity	—	0.14	0.27	0.24	0.16	0.03	0.03	0
Interest coverage	13.9	13.9	16.7	22.4	14.1	14.4	12.8	11
Asset turnover	0.57	0.48	0.45	0.47	0.55	0.57	0.54	0.53
Return ratios
Return on assets %	10.4%	9.9%	8.3%	7.1%	8%	8.3%	7.3%	4.5%
Return on capital employed %	18.6%	19.1%	14.5%	13.3%	14.2%	14.1%	13.1%	9.8%
Return on equity %	19.3%	18.9%	14.4%	12%	12.8%	12%	10.5%	6.5%

Date	Category	Subject	Filing
21 Sept 2026, 10:56 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
21 Sept 2026, 5:48 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
12 Sept 2026, 8:26 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
11 Sept 2026, 7:20 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
10 Sept 2026, 5:23 pm	Company Update General	Communication Regarding Remittance Of Final Dividend For The FY 2025-26	PDF
1 Sept 2026, 11:29 pm	Company Update General	Grant Of Performance Share Units Under Syngene Long Term Incentive Performance Share Plan (PSP) 2023 ('Plan')	PDF
25 Aug 2026, 4:34 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
24 Aug 2026, 6:06 pm	Company Update Acquisition	Announcement under Regulation 30 (LODR)-Acquisition	PDF

128 deals · 16 Sept 2021 – 30 Apr 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
30 Apr 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	27,66,287	₹482.02	₹133.34 Cr
30 Apr 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	27,66,287	₹481.90	₹133.31 Cr
30 Apr 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	21,60,599	₹486.62	₹105.14 Cr
30 Apr 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	21,60,599	₹486.40	₹105.09 Cr
10 Dec 2024	BIOCON LIMITED	Bulk	BSE	Sell	80,00,000	₹857.68	₹686.14 Cr
1 Feb 2023	BIOCON LIMITED	Bulk	BSE	Sell	4,00,00,000	₹560.00	₹2,240.00 Cr
1 Feb 2023	BIOCON LIMITED	Block	BSE	Sell	1,92,00,000	₹560.00	₹1,075.20 Cr
1 Feb 2023	GOVERNMENT OF SINGAPORE	Block	BSE	Buy	1,57,99,200	₹560.00	₹884.76 Cr
1 Feb 2023	GOVERNMENT OF SINGAPORE	Bulk	BSE	Buy	1,57,99,200	₹560.00	₹884.76 Cr
1 Feb 2023	BIOCON LIMITED	Block	BSE	Sell	37,50,000	₹560.00	₹210.00 Cr

1–10 of 128

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	677	701	581	824	1,042	1,168	915
	-428	-628	-612	-656	-496	-745	-860
	-226	58	-31	-343	-551	-142	-215
Net cash flow	23	131	-62	-175	-5	281	-160
Free cash flow	47	260	105	317	550	407	571
CFO / Operating profit %	109.6%	104.4%	72.9%	88.1%	102.7%	112.1%	99.6%

Syngene International Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Investor Presentation and earnings call

11

1

1

Compounded sales growth

Compounded profit growth

Return on equity

Syngene International Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Announcements

Annual reports

Investor Presentation and earnings call

Dividends11

Board meetings1

Bonus issues1

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

11

1

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