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Syncom Formulations (India) is engaged in manufacturing and markets more than 200 pharmaceutical formulations products in various dosage forms like Tablets, Capsules, Liquids Orals, Liquid Vials and Ampoule Injections & Dry Vial injections, Dry Syrups, Ointments, Inhalers and Herbals.

It is a renowned name in the Indian Pharmaceutical Industry represents synergistic combination of commitment and consistency.

Syncom possesses the manufacturing strength in its own manufacturing set-up at Pithampur (30kms away from Indore, the commercial capital of Madhya Pradesh, India).  Established in the year 1995, Syncom’s state of art WHO-GMP and ISO 9001-2008 certified plant is geared up with latest production machineries and maintains high quality standards. Currently Syncom manufactures and markets more than 300 pharmaceutical formulations products in various dosage forms like Tablets, Capsules, Liquids Orals, Liquid Vials and Ampoule Injections & Dry Vial injections, Dry Syrups, Ointments, Inhalers & Herbals.

The company’s marketing network is expanding globally. Currently, Syncom operates in more than 15 countries worldwide having more than 400 products registered. The company has earned clients’ and customers’ support due to its commitment and consistency in fulfilling the needs and demands of the patrons. Syncom’s Quality Products, Competitive Pricing, Prompt Delivery, Customer Service, Performance Consistency etc. enables the company to achieve customer delight.

Incorporated in 1988, it was only in 1994, the company undertook an expansion programme of setting up a new plant for manufacturing pharmaceutical formulations at Pithampur, Madhya Pradesh. The project which was financed through a public issue made in Jan.’94 was completed in 1995.

During the year 1997-98, the Company has further diversified into Ethical Operations by introducing the range of prescription formulations.

During the year 1998-99 there has been huge expansion of installed capacity and production base. Further the company plans introduction of products in the generic, OTC and Ethical Divisions. The export earnings have also registered a growth of more than 100%.

During the year 1999-2000, the company and its associates have received export orders worth Rs.700.00 lacs against advance payment and hence better turnover was expected during the year. 

The company presently exports goods to Guine, Ghana, Kenya, Tanzania, Nigeria in Africa, Azberjan, Nepal and Srilanka in Asia. The company has been approved as a supplier to Central ESI Hospitals and registration of defence services is in its final stages, as a result of which will generate substantial sales volume. Keeping in view the shifting consumer preferences for the use of herbal products, the company is aggressively manufacturing and marketing its herbal products like Edicare, Attom Megacaps, Ecziguard and Yas antacid salt.

Currently, company manufactures and markets more than 500 pharmaceutical formulations in various dosage forms like Tablets, Capsules, Liquids, Liquid ampoule & Dry vial injections, Dry syrups, Ointments, Inhalers & Herbals.

Today company has more than over 300 employees at its state-of-the-art manufacturing plant at Pithampur .

Business Products

Company caters both domestic as well as export markets with majority of its business coming from exports. 

On the exports front

  • Total Products – 591
  • TABLETS (263)
  • CAPSULES (71) 
  • OINTMENT (31)
  • INJECTIONS (140) 
  • LIQUID – ORAL (86)

The company’s marketing network is expanding globally.  Currently, company exports its products to more than 15 countries worldwide. The company has earned clients’ and customers’ support due to its commitment and consistency in fulfilling the needs and demands of the patrons. Compnay’s Quality Products, Competitive Pricing, Prompt Delivery, Customer Service, Performance Consistency etc. enables the company to achieve customer delight. A team of pharmaceutical experts minutely scans every manufacturing stage and have developed the capability to meet the volume and time targets of its customers.


The Division ‘Cratus Life Care’ of company is actively involved in taking care of domestic market’s needs in its home country. To facilitate its service to the domestic and international customers, company has full-fledged corporate office with all the modern amenities at Mumbai and Indore, India.

Cratus is a domestic division of ‘Company’s Formulation India Limited’ which is a leading exporter to more than 25 countries internationally from its WHO-GMP approved and ISO – 9001 certified plant which is spread in an area of approx 2,50,000 Sqft.

Cratus Life care

Via Cratus Life Care company strives to meet the daily medicinal needs of patients through quality products at affordable prices. With cratus company manufactures some of the common generic medicines and offers them to the required patients at very cheap prices there by competing on price basis with other pharmaceutical companies.

Cratus Evolve

Under this company caters to the females and mostly the pregnant females by manufacturing Reproductive Medicines & looking after Women’s Health.

Cratus Nutrition

Nutraceuticals, which have also been called medical foods, designer foods, phytochemicals, functional foods, Dietary supplements and nutritional supplements are an affordable and effective way to ensure intake of essential vitamins, minerals and other important nutrients necessary for optimal health. Via Cratus, Sycom strives to provide the Right Nutrition, at Right Combination & Right Price to support the unique nutritional and therapeutic need of today’s changing life style.



Board of Directors at their meeting held on 18th December, 2020 has approved the matter related to expansion of the business activity of the company by increasing the overall production capacity of Injectable capacity from 200.00 Lakhs to 300.00 Lakhs per annum and to modernize the Tablet Department within an overall cost of Rs. 4031.50 Lakhs and in order to meet out the cost requirement, the company has issued 15,93,47,820 warrants of Rs. 2.53/- 1/- each at a premium of Rs.1.53 per warrants convertible into 15,93,47,820 equity shares of Rs. 1/- each at a premium of Rs. 1.53 per share aggregating Rs.4031.50 Lakhs to meet the overall cost of the project.


For the year ended March 2021

  • Total income for the year increased to Rs. 25,194.61 Lakhs as compared to Rs. 21,073.30 Lakhs in the previous year; 
  • Net sales for the year increased to Rs. 24,480.51 as compared to Rs. 20,551.11 Lakhs in the previous year; 
  • Profit before tax for the year was Rs. 4,070.39 Lakhs as compared to Rs. 1,728.91 Lakhs in the previous year; and 
  • Profit after tax for the year was Rs. 2,917.20 Lakhs as compared to Rs. 1,425.35 Lakhs in the previous year. 

Sectorial Outlook

The Indian Pharmaceuticals market is the 3rd largest in terms of volume and 12th largest export of pharmaceuticals goods all over the world. India is the major provider of the generic medication globally and enjoys a significant position in world pharmaceutical sector. Indian Pharma exports reached around more than USD 20 billion. This was largely driven by exports of generics drugs to more than 190 countries globally, including developed and underdeveloped countries. Rapid Development in the pharmaceutical sector is likely to come from the efficient utilization of existing infrastructure and also increasing the amount of funds to the new infrastructure according to the various policies of government from the root to end. The formulations industry has been expanding rapidly and the outlook remains positive in view of the expansion in the economy, increased spending on healthcare and improving lifestyles in the country.

The Indian government has taken various significant measures to reduce costs and healthcare expenses. The emphasis on rural health programmes, preventive vaccinations, and life-saving medicines would provide Pharma companies numerous opportunities.


Overall company has so far achieved very good sales while the stock price has increased almost 10 times from its 52 week low. Considering the sales and profitability of the company for the year ended march 2021 Syncom trades at the price to earnings multiple of almost 30 Pe which is almost an industry average PE multiple. How would it perform going forward would largely depend on the type of revenue it generates and the operating profit margins it is able to achieve. As for the last Fy Syncom was able to achieve OPM of around 16% which almost double from its past opm of 8% and if company can survive such margins it could be a big boost for the company. However due to recent surge in its price company has been put under Additional Surveillance Measures for long term by SEBI . It could also be a while before company starts moving again.

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