Syncom Formulations: Founder resigns, CFO exits in 2026

Key management changes effective August 11, 2026

Syncom Formulations (India) Limited has announced two senior leadership changes effective August 11, 2026. The company said its founder, Kedarmal Shankarlal Bankda, has resigned from the roles of Whole-Time Director and Director. In a separate update, the company also accepted the resignation of Rahul Vijay Bankda as Chief Financial Officer. Both cessations are scheduled to take effect at the close of business hours on August 11, 2026. The disclosures position the changes as planned transitions, with the company stating there were no disagreements with the Board or management. The announcements come through formal resignation letters and Board acknowledgements referenced in the company’s communication.

Founder Kedarmal Shankarlal Bankda steps down after five decades

The resignation of Kedarmal Shankarlal Bankda marks the end of more than five decades of association with Syncom Formulations. The company credited him with establishing the business and guiding its development. Syncom Formulations described itself as a WHO-GMP and ISO 9001:2015 certified entity while noting the founder’s role in its growth journey. Bankda resigned from both an executive capacity as Whole-Time Director and a non-executive position as Director, according to the disclosure. The company also provided his Director Identification Number (DIN) as 00023050. The Board acknowledged his contributions and confirmed the transition.

Reasons cited: health and succession planning

Syncom Formulations stated that the founder’s resignation was voluntary. It cited health considerations and a strategic focus on succession planning as the reasons for stepping down. The company said the decision is intended to ensure a smooth transition to the next generation of leadership. It also clarified that the resignation did not involve any disagreement with the Board, management, or other stakeholders. Bankda, as per the company’s note, confirmed that the move was not triggered by any material reason or conflict. The framing indicates a planned handover rather than a sudden exit.

Resignation letter received on August 8, 2026

The company said it received Kedarmal Shankarlal Bankda’s resignation letter on August 8, 2026 at 10:35 AM. The cessation date is August 11, 2026, and the company specified it will apply from the close of business hours on that day. This timeline gives the Board a short window between receipt and effectiveness, but the company presented it as part of an orderly process. No additional operational disruptions were cited in the disclosure. The company did not indicate any dispute or conditionality linked to the resignation.

CFO Rahul Vijay Bankda also resigns, citing an internal move

Syncom Formulations also announced that Rahul Vijay Bankda has resigned as Chief Financial Officer, effective August 11, 2026. The company said the reason for the CFO’s resignation is a new professional responsibility within the organisation. In his resignation letter, Rahul Vijay Bankda stated the move is to take up a new role within the company. The Board acknowledged the resignation and recorded that there was no disagreement with the Board of Directors or management. The company did not provide further details about the new role in the shared text. The CFO transition is therefore framed as an internal career change rather than a departure from the group.

What the company has disclosed so far

The filings provide specific dates, roles, and stated reasons but do not include a named successor for either role in the provided text. For the founder, the company emphasised succession planning while reiterating that the decision was voluntary. For the CFO, the company’s statement focuses on an internal reassignment. The company also listed multiple leadership roles in the broader context, including Executive Chairman and Whole-time Director Ankit Kedarmal Bankda and Managing Director Vijay Shankarlal Bankda. The disclosures do not include any change in control statement beyond the resignations and cessations. Investors will typically watch for subsequent filings that clarify replacement appointments and revised key managerial responsibilities.

Financial snapshot: consolidated net profit growth

Alongside the management updates, the provided information includes a full-year profitability figure. Syncom Formulations reported consolidated net profit of INR 764.38 crore for the full financial year. This was stated as a 55.5% increase over INR 494.35 crore recorded in the previous year. The text does not specify the fiscal year label or additional metrics such as revenue, EBITDA, or margins. Still, the profit growth figure provides context for the company’s performance as it navigates leadership changes. It also indicates that the transitions are being disclosed against a backdrop of improved profitability.

Stock price reference and market context

The provided text also references a market move for Syncom Formulations (India) Ltd, stating the share price moved down by 2.46% from a previous close of INR 12.24 to a last traded price of INR 11.94. A separate line in the same material attributes the INR 11.94 price to a timestamp of 23 January 2026, 03:56 PM IST, and cites a previous closing price of INR 11.76 for that specific comparison. These references indicate the stock has seen declines in the cited instances, but they are not directly tied to the August 2026 resignations in the text. Readers should therefore treat the price references as contextual snapshots rather than a confirmed reaction to the latest event.

Timeline: earlier leadership changes disclosed in 2025

The broader background included in the provided material notes earlier resignations effective August 8, 2025. It states that Shri Ankit Kedarmal Bankda stepped down as Chief Financial Officer and Smt. Rinki Ankit Banka resigned as Director and Whole-time Director, with the disclosure filed on August 18, 2025. The company said the announcement was delayed due to internal processing and settlement formalities, and that the delay was inadvertent and unintentional. The same background notes the appointment of Shri Rahul Vijay Bankda as CFO and key managerial personnel with effect from August 9, 2025. This timeline suggests Syncom Formulations has experienced multiple senior role changes over the last two years. It also highlights the company’s focus on documenting reasons and compliance statements in its disclosures.

Summary table of the August 2026 resignations

Why these changes matter for investors

Founder transitions are closely tracked because they can alter governance dynamics and day-to-day decision-making authority. In this case, Syncom Formulations has explicitly positioned the founder’s resignation as a planned step aligned with health considerations and succession planning, and it has stated there are no disagreements. The CFO change, while also effective the same day, is described as a shift to a new internal responsibility, which can imply continuity in institutional knowledge if the executive remains within the organisation. The company has not, in the provided text, named replacements or explained interim arrangements, which are typically the next set of details investors look for in subsequent filings. The confirmed data points are the effective dates, reasons, and the absence of disputes.

Conclusion

Syncom Formulations has disclosed that founder Kedarmal Shankarlal Bankda will step down as Whole-Time Director and Director effective August 11, 2026, citing health and succession planning, with no disagreements reported. The company has also accepted CFO Rahul Vijay Bankda’s resignation effective the same day, citing an internal role change. The next key updates to watch will be any formal announcements on successor appointments and revised responsibilities in the senior management structure.