Syncom Formulations September profit climbs to Rs 26.65 crore

Syncom Formulations (India) Limited reported consolidated profit after tax of Rs 26.65 crore for the quarter ended 30 September 2026, up from Rs 16.60 crore a year earlier, as its pharmaceuticals drugs and formulations segment generated Rs 146.79 crore of the quarter’s Rs 148.21 crore segment revenue.

How did Syncom Formulations perform in the September quarter?

Syncom Formulations increased consolidated revenue from operations to Rs 142.14 crore in the quarter ended 30 September 2026, from Rs 121.72 crore in the quarter ended 30 September 2025. Other income was Rs 6.07 crore, taking total income to Rs 148.21 crore from Rs 126.97 crore in the corresponding prior-year quarter.

Profit before tax rose to Rs 36.03 crore from Rs 22.04 crore, while profit after tax rose to Rs 26.65 crore from Rs 16.60 crore. Basic and diluted earnings per share were Rs 0.28, compared with Rs 0.18 in the September 2025 quarter. The company reported no discontinued operations in the presented quarterly results.

The September quarter also improved from the quarter ended 30 June 2026. Revenue from operations increased from Rs 125.53 crore, total income rose from Rs 133.36 crore, and profit after tax increased from Rs 24.85 crore. Basic earnings per share increased from Rs 0.26 in the preceding quarter.

What changed in Syncom Formulations’ costs and profit?

Syncom Formulations’ total expenses were Rs 112.18 crore in the September 2026 quarter, compared with Rs 104.93 crore a year earlier, while total income increased by Rs 21.24 crore over the same comparison. This difference between income growth and expense growth was reflected in the rise in profit before tax to Rs 36.03 crore.

Cost of materials consumed declined to Rs 45.97 crore from Rs 46.43 crore in the year-earlier quarter. Purchases of stock-in-trade rose to Rs 17.48 crore from Rs 15.29 crore, while changes in inventories were an expense of Rs 10.35 crore compared with Rs 9.04 crore a year earlier.

Employee benefits expense increased to Rs 16.93 crore from Rs 16.73 crore, other expenses increased to Rs 19.48 crore from Rs 15.83 crore, and finance costs increased to Rs 0.41 crore from Rs 0.26 crore. Depreciation and amortisation expense was Rs 1.56 crore, compared with Rs 1.35 crore in the September 2025 quarter.

Tax expense was Rs 9.37 crore in the September 2026 quarter, comprising Rs 9.11 crore of current tax and Rs 0.26 crore of deferred tax. In the September 2025 quarter, tax expense totalled Rs 5.44 crore, comprising Rs 5.14 crore of current tax and Rs 0.30 crore of deferred tax.

Which business generated Syncom Formulations’ revenue?

Syncom Formulations’ pharmaceuticals drugs and formulations segment generated Rs 146.79 crore of revenue in the September 2026 quarter, up from Rs 125.98 crore in the September 2025 quarter. It accounted for nearly all of the group’s Rs 148.21 crore total segment revenue, with commodities trading and property renting representing the balance.

The pharmaceuticals segment reported profit before tax and interest of Rs 35.18 crore, compared with Rs 21.31 crore in the corresponding quarter a year earlier. Trading of commodities generated Rs 0.14 crore of revenue and Rs 0.07 crore of segment profit, while renting of property generated Rs 1.28 crore of revenue and Rs 1.18 crore of segment profit.

For the half year ended 30 September 2026, pharmaceuticals drugs and formulations revenue was Rs 277.27 crore, compared with Rs 246.98 crore in the year-earlier half. Its segment profit before tax and interest was Rs 56.88 crore, up from Rs 40.97 crore, while commodities trading revenue was Rs 0.42 crore and property-renting revenue was Rs 2.12 crore.

What do Syncom Formulations’ half-year results show?

Syncom Formulations reported revenue from operations of Rs 267.67 crore for the half year ended 30 September 2026, compared with Rs 238.62 crore in the half year ended 30 September 2025. Total income increased to Rs 281.57 crore from Rs 249.90 crore over the same period.

Profit before tax for the six months was Rs 68.28 crore, compared with Rs 42.33 crore a year earlier. Profit after tax reached Rs 51.50 crore from Rs 32.36 crore, while total comprehensive income was Rs 54.85 crore compared with Rs 36.34 crore in the prior-year half.

Total expenses for the six-month period were Rs 213.29 crore, compared with Rs 207.62 crore in the year-earlier half. Materials consumed declined to Rs 104.75 crore from Rs 106.04 crore, whereas purchases of stock-in-trade rose to Rs 35.72 crore from Rs 30.97 crore and other expenses increased to Rs 35.77 crore from Rs 31.80 crore.

Basic and diluted earnings per share for the half year were Rs 0.55, compared with Rs 0.34 for the half year ended 30 September 2025. The filing states that comparative per-share figures were restated after the company corrected its earnings-per-share calculation method.

What changed in Syncom Formulations’ balance sheet and cash flow?

Syncom Formulations’ consolidated total assets were Rs 573.22 crore at 30 September 2026, compared with Rs 533.85 crore at 31 March 2026. Current investments increased to Rs 170.98 crore from Rs 106.52 crore, while inventories declined to Rs 42.41 crore from Rs 62.88 crore.

Trade receivables increased to Rs 123.60 crore at 30 September 2026 from Rs 110.50 crore at 31 March 2026. Cash and cash equivalents declined to Rs 0.34 crore from Rs 5.15 crore, while borrowings increased to Rs 16.35 crore from Rs 1.47 crore over the same six-month balance-sheet comparison.

For the period ended 30 September 2026, net cash from operating activities was Rs 39.12 crore. Investing activities used Rs 57.56 crore, including a Rs 61.09 crore change in investments, while financing activities provided Rs 13.63 crore, including a Rs 14.88 crore change in borrowings.

The consolidated results received a limited review from Sanjay Mehta & Associates, whose report dated 13 November 2026 said nothing had come to its attention indicating a material misstatement. The reviewer stated that a limited review provides less assurance than an audit and did not express an audit opinion.

How did Syncom Formulations change its EPS calculation?

Syncom Formulations changed its earnings-per-share calculation during the current period to use profit after tax attributable to equity shareholders, in line with Indian Accounting Standard 33. The filing states that the change resulted in a restatement of comparative earnings-per-share figures only, with no restatement of other financial-statement line items.

For the quarter ended 30 September 2026, restated basic and diluted earnings per share were Rs 0.28. The corresponding September 2025 figures were Rs 0.18, while the restated basic and diluted earnings per share for the half year ended 30 September 2025 were Rs 0.34.

The group reported three wholly owned subsidiaries: Synmex Pharma Pvt. Ltd., Sante Biotech Pvt. Ltd. and Vincit Biotech International Pvt. Ltd. Its disclosed operating segments are pharmaceuticals drugs and formulations, trading of commodities, and renting of property, with pharmaceuticals providing Rs 35.18 crore of the Rs 36.44 crore quarterly segment profit before tax and interest.

Conclusion

Syncom Formulations reported higher revenue and profit for the quarter and half year ended 30 September 2026, with September-quarter profit after tax reaching Rs 26.65 crore and half-year profit after tax reaching Rs 51.50 crore. Pharmaceuticals drugs and formulations remained the principal contributor, generating Rs 146.79 crore of quarterly segment revenue and Rs 35.18 crore of segment profit before tax and interest.

The filing does not disclose a profit target, business plan or scheduled future event. Subsequent results will clarify whether the rise in current investments to Rs 170.98 crore, the fall in cash and cash equivalents to Rs 0.34 crore, and borrowings of Rs 16.35 crore persist, while the restated earnings-per-share basis will remain relevant for comparing per-share data across periods.