Arthneeti

Syngene International Q2 FY27 Share Price & Earnings Call Analysis

₹402.70+1.03% today
Market cap
₹16,256 Cr
P/E
54.90
ROE
7.78%
PEG
-7.28
Price to sales
4.52
Debt to equity
0.09
52W high / low
₹664 / ₹346
Sales growth (5Y)
11.35%
EBITDA margin
22.30%
Net profit margin
9.95%
Promoter holding
52.59%
Sales (last year)
₹3,600 Cr

Syngene (established in 1993) as a Biocon subsidiary is India's first Contract Research Organization (CRO) which expanded later to be an integrated service provider offering end-to-end drug discovery, development, and manufacturing services on a single platform (CRAMS). Total research & manufacturing infrastructure for the company is spread across 1.9 million square feet across locations. [1]

Guidance scorecard · Q2 FY27 call

What Syngene Intl.'s management guided
and where it ranks in Healthcare Services

Revenue0–10%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ4 FY26 call

0–10%
  • FY27 guidance expects broadly flat revenue performance compared to FY26, with growth weighted towards the second half of the year as new contracts ramp up.
  • The adverse impact of Librela destocking is expected to continue through H1 FY27, with near-zero Librela volumes anticipated in the first two quarters and only minor volumes thereafter.
  • Post FY27, Syngene expects to reset its baseline and enter a phase of sustainable and higher growth, driven by pipeline maturation and investments in new modalities like peptides, ADCs, and biologics.
  • The company anticipates stronger growth from FY28 onwards as the Librela effect washes out and new capabilities begin to deliver.

2 more points from Syngene Intl.'s call on revenue

Create a free account to keep reading this call

Full Q4 FY26 analysis

MarginsQ4 FY26 call

Flat

See what Syngene Intl. said on margins — free account, 30 seconds.

Full Q4 FY26 analysis

CapexQ4 FY26 call

Planned
  • Syngene continues to invest in building capabilities and technologies to become an integrated solution provider.
  • In Q4 FY26, invested $10 million focused 50% on research services (capability build, contractual obligations, dedicated centers, and maintenance).
  • About 40% of capex was directed to the CDMO business.
  • The remaining capex was toward digitization, automation, and common infrastructure.
  • Commissioned a new commercial scale facility for liquid-filled hard gelatin capsules, enhancing oral solid dosage capabilities.
  • Expanded Bengaluru biologics facility with a GMP bioconjugation suite for end-to-end antibody drug conjugates manufacturing.
  • Bayview biologics facility in the U.S. is progressing toward operationalization in FY27 with ongoing investments and trial runs.

2 more points from Syngene Intl.'s call on capex

Create a free account to keep reading this call

Full Q4 FY26 analysis

FundraisingQ4 FY26 call

See what Syngene Intl. said on fundraising — free account, 30 seconds.

Full Q4 FY26 analysis

Order bookQ4 FY26 call

  • It mentions a "healthy pipeline of deal flows" expected to translate into stronger growth from FY28 onwards.
  • Syngene is seeing encouraging interest and increased client interactions at their biologics facilities (Bayview and Unit 3), indicating a growing order pipeline.
  • The extended long-term collaboration with Bristol-Myers Squibb through 2035 suggests a stable and strategic order flow over the next decade.
  • The company is actively engaging with prospective customers as the Bayview biologics facility in the U.S. moves toward operationalization, which supports future order growth.
Full Q4 FY26 analysis
Full Healthcare Services ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Healthcare Services
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Aster DM Quality Care LtdGood growth
    3
See all potential multibaggersWhere does Syngene Intl. rank?

Portfolio builder

Build your portfolio
from the top-ranked stocks

  1. 1. Pick 3–15 stocks
  2. 2. Choose large, mid or small cap and your sectors
  3. 3. Get a portfolio built from the rankings
Build my portfolio

Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Healthcare Services companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹903 Cr—
240%+Flat₹583 Cr22.2
3Aster DM Quality Care Ltd20–40%Up 2%+₹58,782 Cr162.9
420–40%Up 0–2%₹1,730 Cr17.5
520–40%Up 0–2%₹580 Cr11.9
620–40%Flat₹1.13L Cr53.9

Sign up free to see every company in the sector ranking and track Syngene Intl..

Pro shows every company guiding 40%+ revenue growth →Full Healthcare Services ranking

Financials of Syngene Intl.

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Syngene Intl.

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +54.79%54.79%54.72%54.72%52.74%52.74%52.68%52.68%52.68%52.68%52.59%52.59%
FIIs +21.20%20.92%20.64%20.72%20.65%19.47%16.51%16.31%14.96%13.91%11.82%10.13%
DIIs +14.63%15.80%16.78%17.49%19.52%21.50%24.05%24.62%25.83%26.44%28.01%29.31%
Public +9.07%8.18%7.44%6.74%6.79%5.99%6.45%6.08%6.22%6.69%7.15%7.55%
Others +0.32%0.31%0.43%0.34%0.29%0.29%0.31%0.30%0.29%0.29%0.43%0.41%
No. of Shareholders1,21,8801,15,8501,20,0181,07,3381,28,8061,25,0901,42,3101,36,0611,31,7501,35,6051,42,2771,34,008

Pros & Cons

Syngene Intl.

Key positives and risks surfaced from the company insights section.

Pros
  • Stock is trading at 3.31 times its book value
  • The company has delivered a poor sales growth of 11.4% over past five years.
  • Company has a low return on equity of 10.1% over last 3 years.
  • Dividend payout has been low at 12.0% of profits over last 3 years
Raw Insights
  • Stock is trading at 3.31 times its book value
  • The company has delivered a poor sales growth of 11.4% over past five years.
  • Company has a low return on equity of 10.1% over last 3 years.
  • Dividend payout has been low at 12.0% of profits over last 3 years

Financials of Syngene Intl.

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +9108549177908919441,0188749119171,036736833
Expenses +656622600620646660674668711708733645685
Operating Profit25423231717024528434420620020930391147
OPM %28%27%35%22%27%30%34%24%22%23%29%12%18%
Other Income +142616501618191815-55161221
Interest13111312131216121312121010
Depreciation105108111107111109106111116114112112112
Profit before tax1511382091011371812401018528196-1947
Tax %23%19%10%25%23%27%24%14%21%47%25%-53%31%
Net Profit +11611218976106131183876715148-932
EPS in Rs2.902.774.691.882.643.264.552.151.670.373.67-0.220.80

Financials of Syngene Intl.

Profit & Loss

Annual income statement trend

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +1,4231,8262,0122,1842,6043,1933,4893,6423,7393,522
Expenses +9491,2891,3941,5071,8612,2512,4722,5982,8172,772
Operating Profit4745376186787439421,0171,045921751
OPM %33%29%31%31%29%30%29%29%25%21%
Other Income +537515394756377101-9-6
Interest23323528244547534944
Depreciation131164219274310366426433453449
Profit before tax372415517469484594621660411252
Tax %18%20%20%14%18%22%18%25%23%
Net Profit +305332412405396464510496317186
EPS in Rs7.648.2910.3010.129.8811.5712.6912.337.864.62
Dividend Payout %7%3%0%0%10%11%10%10%16%

Financials of Syngene Intl.

Balance Sheet

Capital structure and asset base

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital200200400400401401402402403404
Reserves1,5201,7681,7762,4212,8973,2173,8564,3244,4364,455
Borrowings +7878137738931,022815555578458507
Other Liabilities +6819221,2141,1691,2451,3981,3391,4911,7571,292
Total Liabilities3,1893,7044,1634,8835,5645,8316,1526,7967,0556,658
Fixed Assets +1,0301,3772,0202,2012,3932,6672,8502,8023,0002,880
CWIP1552742342373461778381,2661,0461,141
Investments1587167767021,034918548647741610
Other Assets +1,8461,3371,1331,7431,7902,0691,9162,0812,2682,028
Total Assets3,1893,7044,1634,8835,5645,8316,1526,7967,0556,658

Financials of Syngene Intl.

Cash Flows

Operating, investing and financing cash movement

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +4466306777015818241,0421,168915
Cash from Investing Activity +-349-646-424-629-611-653-494-744-839
Cash from Financing Activity +-79-72-22658-31-342-551-142-215
Net Cash Flow18-8828130-62-172-4281-138
Free Cash Flow824734255105305553398547
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit111%135%127%116%92%102%115%123%107%

Financials of Syngene Intl.

Ratios

Working capital efficiency and return ratios

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days686872797161465350
Inventory Days8230184187141946056
Days Payable195154156167113109100136138
Cash Conversion Cycle-44-56-66-47459240-23-32
Working Capital Days-48-103-172-66-43-14-27-51-68
ROCE %17%17%14%13%15%15%13%10%

Guidance history

How Syngene Intl.'s guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q4 FY26 call →0–10%FlatPlanned——
Q3 FY26 call →DeclineDown 0–2%Planned——
Q2 FY26 call →0–10%Down 0–2%Planned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

17out of 100

Momentum score · price trend

17 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−38.1%14%
Last 6 months−13.9%32%
Last 3 months+4.4%75%

The price is 57.2% below its all-time high of ₹940.8 (29 Nov 2024). Stocks more than 20% below their peak have their score halved, so 34 became 17.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Syngene Intl.: 0.4 × 14 + 0.4 × 32 + 0.2 × 75 = 34, halved to 17 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Syngene Intl.'s management said in earlier quarters

Others in Healthcare Services this season

  • Rainbow Childrens Medicare Ltd (Q2 FY27)

    Year-on-year (YoY) growth in revenue: 23.2% . Key investor presentation takeaways from Rainbow Childrens Medicare Ltd's Q2 FY27 investor presentation — and how

  • Narayana Hrudayalaya Ltd (Q2 FY27)

    Consolidated operating revenue for Q2 FY27: ₹28,440 Mn, up 73.0% YoY (Page 15, 16). Key investor presentation takeaways from Narayana Hrudayalaya Ltd's Q2 FY27

  • Artemis Medicare Services Ltd (Q2 FY27)

    Q2 FY27 consolidated revenue from operations: INR 31,104 Lacs, up 13.2% YoY (Page 39, 40, 20). Key investor presentation takeaways from Artemis Medicare Service

  • Max Healthcare Institute Ltd (Q2 FY27)

    Q2 FY27 Gross Revenue: ₹3,219 Cr, up 20% YoY (Page 4, 17) . Key investor presentation takeaways from Max Healthcare Institute Ltd's Q2 FY27 investor presentatio

Compare:vs Apollo Hospitals Enterprise Ltdvs Manipal Health Enterprises Ltdvs Max Healthcare Institute Ltd