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Syncom Formulations (India) Limited (524470) Fair Value & Analysis

Healthcare · IN · Market cap ₹976M

SF Syncom Formulations (India) Limited 524470 · BSE
Price₹15.57
Fair Value₹10.20
Upside-34.5%
Quality60/100
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Expensive Growth
Thin margins · 7.9% net margin
1.49% dividend yield
Narrow moat 37/100
Evidence: High Range ₹4.31 – ₹13.46 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 5 days ago

A solid business, but screening 34% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹13.46). The favourable scenario is already priced in.
  • The model range is unusually wide (₹4.31 to ₹13.46). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

₹26.77 ₹3.07 Fair Value ₹10.20 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹3.07 – ₹26.77 · fair‑value band ₹4.31 – ₹13.46 · the ₹15.57 price screens above the ₹10.20 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Syncom Formulations (India) Limited (524470) currently trades at ₹15.57, while our model-based Fair Value estimate is ₹10.20, implying the stock looks roughly 34.5% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Syncom Formulations (India) Limited generated revenue of ₹1.8B at a net margin of 7.9%. Revenue declined 45.7% year over year. The stock trades on a trailing P/E of 10.2 (as of Jul 4, 2026). Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹4.31 (bear case) to ₹13.46 (bull case); at ₹15.57, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 20% below its 52-week high and 52% above its 52-week low. For context, the median of 10 Healthcare peers we cover trades at -38% fair-value upside, at -34%, 524470 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income ₹4.05 ₹4.99 ₹12.08 76
Growth DCF ₹1.95 ₹3.52 ₹5.68 72
Gordon GGM ₹0.2800 ₹0.5100 ₹0.7000 70
All 26 models by family
DCF Models
FCF DCF ₹2.02 ₹3.44 ₹6.67 38
Owner Earnings ₹6.68 ₹12.45 ₹22.24 31
5Y Revenue Exit ₹4.74 ₹9.82 ₹17.22 39
5Y EBITDA Exit ₹5.48 ₹11.45 ₹19.49 41
5Y P/E Exit ₹7.07 ₹14.98 ₹24.75 38
10Y Revenue Exit ₹3.50 ₹7.77 ₹15.26 36
10Y EBITDA Exit ₹4.15 ₹8.91 ₹17.13 37
10Y P/E Exit ₹5.15 ₹11.38 ₹21.45 35
Earnings-Based
Graham-Dodd ₹4.31 ₹25.20 ₹35.08 54
Lynch FV ₹7.14 ₹10.20 ₹13.25 50
PEG = 1.0 ₹7.14 ₹10.20 ₹13.25 46
EPV ₹4.90 ₹5.57 ₹6.12 59
Dividend Discount
Gordon GGM ₹0.2800 ₹0.5100 ₹0.7000 70
DDM Multi-Stage ₹0.2800 ₹0.4600 ₹0.5400 61
Multiples
P/E Multiple ₹10.45 ₹13.93 ₹17.41 63
P/S Multiple ₹8.07 ₹10.77 ₹13.46 58
P/B Multiple ₹8.07 ₹10.77 ₹13.46 55
EV/EBIT ₹8.67 ₹11.56 ₹14.45 53
EV/EBITDA ₹7.84 ₹10.45 ₹13.06 54
EV/Revenue ₹6.19 ₹8.84 ₹11.49 43
Asset-Based
NCAV (Graham) ₹2.19 ₹2.94 ₹4.38 50
Growth DCF
Growth DCF ₹1.95 ₹3.52 ₹5.68 72
Rev-Margin DCF ₹4.74 ₹9.53 ₹16.22 67
Economic Profit
Residual Income ₹4.05 ₹4.99 ₹12.08 76
ROIC Compounder ₹5.19 ₹6.87 ₹8.53 67
Growth Earnings
Growth-Adj P/E ₹10.72 ₹15.32 ₹19.92 68

Widest divergence: Growth Earnings (₹15.32) versus Dividend Discount (₹0.4600). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹1.8B
Revenue growth (YoY) -45.7%
Net margin 7.9%
P/E ratio 10.2 as of Jul 4, 2026
Operating margin 7.2%
EPS (TTM) ₹0.1840
More key figures
Dividend yield 1.5%
EPS growth (YoY) +33.3%

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 60 · Market factors (momentum, volatility) 46

Profitability 66
Margins and returns on capital today
Quality Growth 75
Are margins and returns improving?
Cashflow 22
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 57
Disciplined investing over empire-building
Low Volatility 63
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 35
Distance to the 52-week high (market factor)
Net Issuance 67
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Syncom Formulations (India) Limited, a pharmaceutical company, discovers, develops, manufactures, and markets a range of healthcare products in India.

Full company description

Syncom Formulations (India) Limited, a pharmaceutical company, discovers, develops, manufactures, and markets a range of healthcare products in India. The company offers approximately 300 pharmaceutical formulations in various dosage forms, such as tablets, capsules, liquids orals, liquid vials and ampoules injections, dry vial injections, dry syrups, ointments, inhalers, and herbals. Its products comprise generics, alpha adrenoceptor agonists, analgesics, antipyretics, anti-inflammatory, anti-ulcer agents, antibiotics, antidepressants, antifungals, antihistamines, antimalarial, antiplatelet agents, antiprotozoal, antivirals, bronchodilators, calcium antagonists, cardiac medicines, central nervous stimulants, cephelo sporins, cortico steroids, estrogen, cough suppressants, erectile dysfunction, and electrolite. The company also offers histamines, homeostatic, hypoglycemic, hypolipidaemics, local anesthetics, multivitamins and nutritional supplements, sedative anticonvulsants, stimulants, and sympathomimetic products, as well as products used in the treatment of gout. In addition, it exports active pharmaceutical ingredients and surgical products; agro and confectionary products comprising rice, wheat flour, chickpeas, soy doc, biscuits, and candies; and fasteners, steel bars, roofing sheets, and jute bags, as well as metal scrap. Additionally, the company rents properties. Syncom Formulations (India) Limited was founded in 1985 and is based in Indore, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Syncom Formulations (India) Limited reported revenue of ₹4.7B in FY2025 versus ₹2.4B in FY2021, a compound +17.4%/yr. Reported net income was ₹494M in FY2025, compounding +14.1%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
₹4.7B
Latest YoY
+76.6%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+28.4%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+17.7%
Avg. growth/yr (11Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.7%
Revenue +17.4%/yr
FY21 ₹2.4B
FY22 ₹2.2B
FY23 ₹2.2B
FY24 ₹2.6B
FY25 ₹4.7B
Net income +14.1%/yr
FY21 ₹292M
FY22 ₹198M
FY23 ₹201M
FY24 ₹253M
FY25 ₹494M

524470 screens 34% overvalued. Compare with AstraZeneca Pharma India Limited →

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Cite: Fair Value Calculator (2026). "Syncom Formulations (India) Limited Fair Value". https://www.fairvalue-calculator.com/stock/524470

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Drug Manufacturers - Major stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
AstraZeneca Pharma India Limited 506820 ₹7,754 ₹810.13 -90%
Granules India Limited 532482 ₹861.80 ₹420.24 -51%
FDC Limited 531599 ₹354.40 ₹255.06 -28%
Marksans Pharma Limited 524404 ₹331.65 ₹151.74 -54%
Bliss GVS Pharma Limited 506197 ₹524.05 ₹104.64 -80%
Lincoln Pharmaceuticals Limited 531633 ₹612.85 ₹600.51 -2%
Albert David Limited 524075 ₹808.85 ₹500.79 -38%
Wanbury Limited 524212 ₹250.55 ₹226.69 -10%
Makers Laboratories Limited 506919 ₹153.20 ₹105.20 -31%
Syschem (India) Limited 531173 ₹30.91 ₹7.53 -76%

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Frequently asked questions

Is Syncom Formulations (India) Limited (524470) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹10.20 versus a price of ₹15.57, about −34% (overvalued).
What is the fair value of 524470?
Our model-based fair value for Syncom Formulations (India) Limited is ₹10.20 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹15.57.
What is the quality score of 524470?
Syncom Formulations (India) Limited has a Quality Score of 60/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Syncom Formulations (India) Limited (524470)?
Syncom Formulations (India) Limited reported trailing-twelve-month revenue of about ₹1.8B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 524470?
The net profit margin of Syncom Formulations (India) Limited is about 7.9%, meaning it keeps roughly 7.9% of revenue as net income. Based on the latest reported figures.
Does Syncom Formulations (India) Limited pay a dividend?
Syncom Formulations (India) Limited currently shows a dividend yield of about 1.49% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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