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Established in the year 1995, Syncom Formulations is a global pharmaceutical company that manufactures and markets a broad range of healthcare products. The company is a generic pharmaceutical player operating in more than 15 countries worldwide having more than 400 products registered.


KEY POINTS 

Products & Brands Overview
The company manufactures and markets more than 300 pharmaceutical formulations products in various dosage forms like Tablets, Capsules, Liquids Orals, Liquid Vials, Ampoule Injections & Dry Vial injections, Dry Syrups, Ointments, Inhalers & Herbals.
It has 65 products in Branded Allopathy and 32 products in the Herbal category.

Manufacturing Capacity
Syncom’s state-of-the-art manufacturing facility is centrally located at Pithampur which is in the central part of India and is in the vicinity of the dry port, facilitating exports. Its facility has an injectables production capacity of 2 cr per annum.

Business Divisions
A) Cratus Lifecare - The division is actively involved in taking care of the domestic market’s needs in its home country.
B) Cratus Nutrition - In this division, the company manufactures Nutraceutical medicines that act as nutritional supplements.
C) Cratus Evolve - Under this company caters to females and mostly pregnant females by manufacturing Reproductive Medicines & looking after Women’s Health.

Global Presence
The company operates in more than 15 countries worldwide having more than 400 products registered through Merchant Exports. It is currently exporting various commodities like:


Pharmaceutical Active Pharmaceutical Ingredients (API) Surgical products Agro & Confectionary products Rice, Wheat Flour, Chickpeas, Soy DOC, Biscuits & Candies Industrial products Fasteners, Steel Bars, Roofing sheets & Jute bags, and Metal Scrap

Geographical split
In FY22, the company's Export Sale accounted for ~71% of the total revenue while from the Domestic front, it was ~29%.

Segment-wise performance
Pharmaceutical Drug & Formulations ~95%
Trading of Commodity ~1% and
Renting of Property ~2%

Upcoming Expansion Projects
The company is increasing the overall production capacity of injectables from 2 Cr. to 3 Cr. per annum and is also modernizing the Tablet Department. The overall cost of this project is Rs. 40.31 Cr. which is funded by the company by issuing 15.9 crores convertible warrants of Rs. 2.53 each.
The project for expansion of the capacity is expected to be completed by 30 September 2022.

Focus
The company is focused on developing new avenues of business which will be reflected in future performance. It is also focused on proper management of its working capital, receivables, inventories, and other working capital parameters to improve cash flows (cash and cash equivalents declined from ~3 cr in FY21 to only 30 lakh in FY22). 

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