About Syncom Formulations (India) Limited
Data last updated:
Syncom Formulations (India) Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the drug formulation and development segment of the pharmaceuticals sector. It was incorporated on 21 June 1988 and has been in existence for over 38 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L24239MH1988PLC047759. Its GSTIN is 27AAFCS6794R1Z7 (Maharashtra). The company holds 7 GST registrations, all of them active. Its shares are listed on BSE: 524470.
The company has an authorised share capital of ₹95 Cr and a paid-up capital of ₹94 Cr. It was formerly known as Syncom Formulations (India) Pvt Limited. It is led by directors including Vijay Shankarlal Bankda (Managing Director) and Kedarmal Shankarlal Bankda (Whole-Time Director).
Its last annual general meeting (AGM) was held on 29 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 7 Niraj Industrial Estate Off Mahakali Caves Road Andheri (East), Mumbai, Maharashtra, India – 400093.
As per the financials filed for FY 2025, the company reported a revenue of ₹5.88 Cr, a decline of 98% compared to the previous year. For the same year it recorded a net loss of ₹1.24 Cr (net margin -21%) and EBITDA of -₹20.15 Lakh (EBITDA margin -3.4%). Revenue has declined at a compounded annual rate (CAGR) of 71% over three years and 51% over five years.
The company has about 681 employees on its provident fund (EPFO) records. Its group structure includes 3 subsidiaries.
The company is associated with 1 brand: Syncom Formulations. As per MCA filings, the company has open charges of ₹53.3 Cr and satisfied charges of ₹156.68 Cr on record. Court records list 19 cases involving the company, including 6 filed by the company and 12 filed against it; 3 cases are pending. The company has 103 deals on record (103 market trades); the latest was in September 2024. Its 10 peer companies in the Pharma industry (Formulations) are compared by revenue, 5 larger and 5 smaller; the largest is Pharmed Limited. The company has 3 MSME Form 1 returns on record for the period ending Sep 2023, listing 55 overdue payments to 11 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website sfil.in.
- EmailLocked
- TelephoneLocked
- Website
- Social MediaLocked
- Registered Address7 Niraj Industrial Estate Off Mahakali Caves Road Andheri (East), Mumbai, Maharashtra, India – 400093
- IndustryPharma, Drug Formulation & Development
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
- One PDF report, delivered after checkout
Business Activity of Syncom Formulations (India) Limited
The main business activities of Syncom Formulations (India) are manufacturing and trade. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products and wholesale trading. 2 activity segments are registered with the MCA.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products | Locked |
| G | Trade | G1 | Wholesale Trading | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Syncom Formulations (India) Limited FY 2025 filings available
Syncom Formulations (India) Limited reported revenue of ₹5.88 Cr (down 98% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR) of Syncom Formulations (India) Limited
Revenue has declined at a compounded annual rate (CAGR) of 51% over five years, including a 98% fall in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary of Syncom Formulations (India) Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | ₹5.88 Cr | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | -₹20.15 Lakh | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | -₹1.24 Cr | •••• | •••• | •••• | •••• |
| Balance Sheet | |||||
| Share Capital | •••• | •••• | •••• | •••• | •••• |
| Reserves and Surplus | •••• | •••• | •••• | •••• | •••• |
| Net Worth (Total Equity) | •••• | •••• | •••• | •••• | •••• |
| Long-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Short-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Trade Payables | •••• | •••• | •••• | •••• | •••• |
| Total Liabilities | •••• | •••• | •••• | •••• | •••• |
| Fixed Assets | •••• | •••• | •••• | •••• | •••• |
| Investments | •••• | •••• | •••• | •••• | •••• |
| Inventories | •••• | •••• | •••• | •••• | •••• |
| Trade Receivables | •••• | •••• | •••• | •••• | •••• |
| Cash and Bank Balance | •••• | •••• | •••• | •••• | •••• |
| Total Assets | •••• | •••• | •••• | •••• | •••• |
Financial Ratios of Syncom Formulations (India) Limited
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -3.4% | •••• | •••• | •••• | •••• |
| Net Profit Margin | -21% | •••• | •••• | •••• | •••• |
| Return on Equity (ROE) | •••• | •••• | •••• | •••• | •••• |
| Return on Capital Employed (ROCE) | •••• | •••• | •••• | •••• | •••• |
| Return on Assets (ROA) | •••• | •••• | •••• | •••• | •••• |
| Liquidity and Debt | |||||
| Current Ratio | •••• | •••• | •••• | •••• | •••• |
| Quick Ratio | •••• | •••• | •••• | •••• | •••• |
| Debt-to-Equity Ratio | •••• | •••• | •••• | •••• | •••• |
| Interest Coverage Ratio | •••• | •••• | •••• | •••• | •••• |
| Efficiency and Growth | |||||
| Asset Turnover | •••• | •••• | •••• | •••• | •••• |
| Receivable Days | •••• | •••• | •••• | •••• | •••• |
| Payable Days | •••• | •••• | •••• | •••• | •••• |
| Inventory Days | •••• | •••• | •••• | •••• | •••• |
| Revenue Growth | •••• | •••• | •••• | •••• | •••• |
| Net Profit Growth | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Syncom Formulations (India) are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Peer Comparison of Syncom Formulations (India) Limited
Syncom Formulations (India) Limited is compared with the companies closest to it by revenue in the Pharma industry (Formulations). Revenue, net profit, margin and growth of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Pharmed Limited | •••• | •••• | •••• | •••• | 1,868 | Mumbai, Maharashtra, India |
| Mapaex Health and Personalcare Private Limited | •••• | •••• | •••• | •••• | - | Bhopal, Madhya Pradesh, India |
| Flamingo Pharmaceuticals Limited | •••• | •••• | •••• | •••• | 767 | Mumbai, Maharashtra, India |
| Mackinon Enterprises Private Limited | •••• | •••• | •••• | •••• | - | Mumbai, Maharashtra, India |
| Cronus Pharma Specialities India Private Limited | •••• | •••• | •••• | •••• | 387 | Shaikpet, Telangana, India |
| Karnataka Antibiotics and Pharmaceuticals Limited | •••• | •••• | •••• | •••• | 745 | Bangalore, Karnataka, India |
| Cachet Pharmaceuticals Private Limited | •••• | •••• | •••• | •••• | 1,391 | Patna, Bihar, India |
| Jodas Expoim Private Limited | •••• | •••• | •••• | •••• | 831 | Mulugu, Telangana, India |
| Adcock Ingram Limited | •••• | •••• | •••• | •••• | 432 | Bangalre, Karnataka, India |
| Zee Laboratories Limited | •••• | •••• | •••• | •••• | 404 | Delhi, India |
| Syncom Formulations (India) Limited this company | •••• | •••• | •••• | •••• | - | Mumbai, Maharashtra, India |
Peers are the five companies nearest above and the five nearest below Syncom Formulations (India) by revenue in the Pharma industry (Formulations), from the latest filed financials of each company. Revenue, net profit, margin and growth of each peer are in the company report.
Auditor Details of Syncom Formulations (India) Limited
Syncom Formulations (India) Limited is audited by Sanjay Mehta & Associates for the financial year 2024.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| Sanjay Mehta & Associates | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors of Syncom Formulations (India) Limited
Syncom Formulations (India) has 6 current directors and 14 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Vijay Shankarlal Bankda | Managing Director | 01 Dec 1999 | 26 Years 10 Months | Current |
| Kedarmal Shankarlal Bankda | Whole-Time Director | 13 Apr 1992 | 34 Years 5 Months | Current |
| Ankit Kedarmal Bankda Also directs: Ruj Infotech LLP, Strand Developers Private Limited | Whole-Time Director | 09 Aug 2025 | 1 Years 1 Months | Current |
| Ruchi Jindal | Director | 28 Jun 2022 | 4 Years 3 Months | Current |
| Ankit Jain Also directs: Irion Ventures LLP | Director | 14 Aug 2023 | 3 Years 1 Months | Current |
| Ritesh Kumar Lunkad | Director | 14 Aug 2023 | 3 Years 1 Months | Current |
Ownership and Shareholding of Syncom Formulations (India) Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Syncom Formulations (India) Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 19 Jan 2026 | Hdfc Bank Limited | ₹3.8 Cr | Open |
| 16 Dec 2025 | Hdfc Bank Limited | ₹40 Cr | Open |
| 01 Oct 2025 | Hdfc Bank Limited | ₹9.5 Cr | Open |
| 28 Dec 2020 | Hdfc Bank Limited | ₹100 Cr | Satisfied |
| 23 May 2002 | Dena Bank | ₹12.77 Cr | Satisfied |
Total charge records: 22 View all charges
Deals & Funding of Syncom Formulations (India) Limited
Syncom Formulations (India) Limited has 103 deals on record (103 market trades); the latest was in September 2024.
Deals on record (5 of 103)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2024 | Market trade | ₹39.27 Cr | Buyer: Hrti Private Limited , Graviton Research Capital LLP Seller: Hrti Private Limited , Graviton Research Capital LLP |
| Sep 2024 | Market trade | ₹24.42 Cr | Buyer: Graviton Research Capital LLP , Hrti Private Limited Seller: Graviton Research Capital LLP , Hrti Private Limited |
| Aug 2024 | Market trade | ₹27.25 Cr | Buyer: Hrti Private Limited , Graviton Research Capital LLP Seller: Hrti Private Limited , Graviton Research Capital LLP |
| Aug 2024 | Market trade | ₹10.32 Cr | Buyer: Hrti Private Limited Seller: Hrti Private Limited |
| Dec 2023 | Market trade | ₹19.88 Cr | Buyer: Graviton Research Capital LLP , Qe Securities LLP Seller: Graviton Research Capital LLP , Qe Securities LLP |
Full deal history
All 103 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Syncom Formulations (India) Limited
Syncom Formulations (India) Limited has 19 court cases on record: 6 filed by Syncom Formulations (India), 12 filed against it, 1 where it is another party. 3 cases are pending and 16 are disposed. Status as checked between 21 Sep 2026 and 03 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 9 | 6 | 0 |
| District courts | 9 | 5 | 2 |
| NCLAT | 1 | 1 | 1 |
Cases on record (5 of 19)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Thane, Maharashtra | Civil suit | Filed by the company against Projects Pvt Ltd | Pending |
| NCLAT, New Delhi | Company appeal | Filed against the company by Comfort Intech Limited | Pending |
| Bombay High Court | Court case (CRR) | Filed against the company by Shalina Laboratories Private Limited | Disposed |
| District court, Thane, Maharashtra | Civil suit | Filed by the company against Kalrashukla Classes Private Limited | Disposed |
| District court, Calcutta, West Bengal | Civil suit | Filed against the company by Jak Maritime & Logistics India Private Limited | Disposed |
Full case history
All 19 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME Payment Delays by Syncom Formulations (India) Limited
Syncom Formulations (India) Limited has 3 MSME Form 1 returns on record for the period ending Sep 2023, listing 55 overdue payments to 11 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 11)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | •••• | •••• | •••• |
| Shree Venkatesh International Limited | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| an individual supplier | •••• | •••• | •••• |
| Kingston Aqua Industries Private Limited. | •••• | •••• | •••• |
Full MSME payment history
Every supplier, amount and due date from all 3 MSME Form 1 returns is in the company report.
- Every reported supplier due
- Amounts and due dates
- Reasons given in each return
- Period-by-period history
Verified entity values are shown only after access is granted.
Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.
Associated Brands with Syncom Formulations (India) Limited
Syncom Formulations (India) operates one associated brand: Syncom Formulations. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Pharmaceutical formulations are manufactured and exported in various dosage forms. | syncomformulations.com |
Employees and EPFO Compliance at Syncom Formulations (India) Limited
Syncom Formulations (India) Limited has a workforce of 681 employees as of Mar 27, 2025.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
Group Structure of Syncom Formulations (India) Limited
Syncom Formulations (India) has 3 subsidiary companies. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares Held |
|---|---|---|
| Sante Biotech Private Limited | U51909MP2022PTC061915 | Locked |
| Synmex Pharma Private Limited | U51909MP2022PTC061919 | Locked |
| Vincit Biotech International Private Lim | U51909MP2022PTC061970 | Locked |
Showing major subsidiaries. Total: 3.
CIN History of Syncom Formulations (India) Limited
Syncom Formulations (India) has one previous CIN (Corporate Identification Number): U24239MH1988PLC047759. The current CIN is L24239MH1988PLC047759, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L24239MH1988PLC047759 | Current |
| U24239MH1988PLC047759 | Previous |
News related to Syncom Formulations (India) Limited
Recent Activity on Syncom Formulations (India) Limited
Syncom Formulations (India) Limited has 23 board changes on record since 1992: 15 appointments and 8 cessations. The latest: Rahul Vijay Bankda was appointed as CFO on 08 Sep 2025.
62 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Syncom Formulations (India) Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Syncom Formulations (India) Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Syncom Formulations (India) Limited
Syncom Formulations (India) has 7 GST registrations: 7 active. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAFCS6794R1Z7 | Maharashtra | Active | 01 Jul 2017 |
| 23AAFCS6794R1ZF | Madhya Pradesh | Active | 01 Jul 2017 |
| 23AAFCS6794R2ZE | Madhya Pradesh | Active | 01 Jul 2017 |
| 09AAFCS6794R1Z5 | Uttar Pradesh | Active | 10 Dec 2022 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Syncom Formulations (India) Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Syncom Formulations (India) Limited
Syncom Formulations (India) is an active public limited company based in Mumbai, Maharashtra, India. The company works in drug formulation and development, within the pharma industry. It was incorporated on 21 June 1988 (38+ years old) and is registered under CIN L24239MH1988PLC047759. Listed on BSE: 524470.
Syncom Formulations (India) reported revenue of ₹5.88 Cr for FY 2025 (down 98% YoY).
Syncom Formulations (India) has 6 current directors:
- Vijay Shankarlal Bankda - Managing Director
- Kedarmal Shankarlal Bankda - Whole-Time Director
- Ankit Kedarmal Bankda - Whole-Time Director
- Ruchi Jindal - Director
- Ankit Jain - Director
- Ritesh Kumar Lunkad - Director
Syncom Formulations (India) reported a net loss of ₹1.24 Cr (net margin -21%) and EBITDA of -₹20.15 Lakh (EBITDA margin -3.4%) for FY 2025, as per its filed financial statements.
The compounded annual growth rate (CAGR) of the revenue of Syncom Formulations (India) is -71% over three years and -51% over five years. In the latest year (FY 2025) revenue fell 98%. CAGR is the steady yearly rate that links the first and the last year.
The GSTIN of Syncom Formulations (India) is 27AAFCS6794R1Z7, registered in Maharashtra. The company has 7 GST registrations in all, of which 7 are active. Other active GSTINs include 23AAFCS6794R1ZF (Madhya Pradesh), 23AAFCS6794R2ZE (Madhya Pradesh), 09AAFCS6794R1Z5 (Uttar Pradesh).
The CIN (Corporate Identification Number) of Syncom Formulations (India) is L24239MH1988PLC047759. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Syncom Formulations (India) is listed on BSE with code 524470.
Syncom Formulations (India) has 19 court cases on record: 6 filed by the company and 12 filed against it. 3 are pending. Most are in the high courts.
Syncom Formulations (India) was incorporated on 21 June 1988, making it 38+ years old. It is registered with the Registrar of Companies, Mumbai.
Syncom Formulations (India) has 103 deals on record (103 market trades); the latest was in September 2024.
The peers of Syncom Formulations (India) by revenue are Pharmed Limited, Mapaex Health and Personalcare Private Limited, Flamingo Pharmaceuticals Limited, Mackinon Enterprises Private Limited, Cronus Pharma Specialities India Private Limited and 5 more, all in the Pharma industry (Formulations).