SYNGENE INTERNATIONAL LTD (SYNGENE): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹436.9 latest close · −0.7% over the last 90 sessions

₹436.9 month-end · −32.6% over 12 months

₹436.9 month-end · −41.9% over 3 years

₹436.9 month-end · +51.1% since Jan '19

52-week range ₹344.45 to ₹678.95 · 1-year volatility 36.1%

Was the rally earned?

1 year3 years5 years

-33%share price, 1 yearEarnings-driven

Mostly earnings.

Per-share earnings took off 69 points, while the multiple moved less (P/E 51.5x to 79.6x).
The share count barely moved.

Net profit growth-68 ptsNet profit fell about 56%, which lowers the price.

P/E change+36 ptsThe P/E rose from 51.5x to 79.6x, which lifts the price.

Share count change0 ptsShare count was little changed. More shares would count against the price.

-42%share price, 3 yearsEarnings-driven

Mostly earnings.

Per-share earnings took off 57 points, while the multiple moved less (P/E 65.0x to 79.6x).
The share count barely moved.

Net profit growth-57 ptsNet profit fell about 52%, which lowers the price.

P/E change+16 ptsThe P/E rose from 65.0x to 79.6x, which lifts the price.

Share count change0 ptsShare count was little changed. More shares would count against the price.

-27%share price, 5 yearsEarnings-driven

Mostly earnings.

Per-share earnings took off 53 points, while the multiple moved less (P/E 58.9x to 79.6x).
The share count barely moved.

Net profit growth-52 ptsNet profit fell about 45%, which lowers the price.

P/E change+26 ptsThe P/E rose from 58.9x to 79.6x, which lifts the price.

Share count change-1 ptsShare count was little changed. More shares would count against the price.

What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with NBCC (INDIA)

How rough has the ride been?

Maximum drawdown-63.5%not yet recovered

1-year volatility36.1%annualised

Beta vs sector index0.503-year daily, correlation 0.36

Volume spikes5last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-63.5% (2024-12 peak to 2026-10 low, not yet recovered)

-36.7% (2019-06 peak to 2020-03 low, recovered 2020-05)

-22.7% (2023-09 peak to 2024-05 low, recovered 2024-08)

Most recent volume spikes

2026-10-29: 8.1x the 50-day median, price -3.0% that day

2026-10-28: 76.1x the 50-day median, price +12.2% that day

2026-10-12: 8.6x the 50-day median, price +7.1% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

79.6xP/E todayNear its historic high

Against its own history100th percentile

CheapestMedian 56.1xDearest

Usual range 38.6x to 68.5x since 2019-01.

Against Commercial Services79.6x vs 21.1x

This company

79.6x

Sector median

21.1x

278% above the Commercial Services median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianCommercial Services median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianCommercial Services median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianCommercial Services median

How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Commercial Services is valued

Where does it rank among Commercial Services peers?

Each cell is the company's percentile rank among its Commercial Services peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

ROCE29th▼ 15 pts vs a year ago
Op. margin50th▼ 28 pts vs a year ago
Revenue growth7th▼ 28 pts vs a year ago
EPS growth14th▼ 30 pts vs a year ago
Debt/equity ↓69th▲ 4 pts vs a year ago
Cash cycle ↓98thflat vs a year ago
P/E ↓9th▼ 15 pts vs a year ago
12M momentum28th▼ 14 pts vs a year ago

Rank history

ROCE

Op. margin

Revenue growth

EPS growth

Debt/equity ↓

Cash cycle ↓

P/E ↓

12M momentum

Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26

Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Commercial Services sector page Watch it move against Commercial Services in the Observatory

What is the price implying?

~23%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 40.3x, a holder earning 12%/yr needs earnings to grow about 23.1%/yr for 10 years, then trade at 15x.

Delivered3.8%/yrEPS, last 9 fiscal years · 3-yr avg to 3-yr avg

Gap+19.2 ptsimplied minus delivered

Rank155thmost demanding of 856

Over time

Implied growth by month (solid) and delivered growth (dashed).

Change the assumptions

Exit P/E / return	11%	12%	13%
12x	24.7%	25.8%	26.9%
15x	22.0%	23.1%	24.2%
20x	18.6%	19.7%	20.7%

Drag a slider to test other assumptions

Required return 12.0% Years 10 Exit P/E 15x Implied: 23.1%/yr

Looking back

Jan 2020Price implied 23%/yr; EPS has since grown −1%/yr (7.0 yrs)
Jan 2021Price implied 27%/yr; EPS has since grown −4%/yr (6.0 yrs)
Jan 2022Price implied 28%/yr; EPS has since grown −5%/yr (5.0 yrs)

Past comparisons cover only companies listed today (survivorship bias) and say nothing about future outcomes.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.

What prices imply across Commercial Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹436.90
P/E: 79.6x
ROCE: 10.0%
Market Cap: ₹17623 cr
Revenue (TTM): ₹3600 cr
P/S: 4.9x
P/B: 3.6x
ROE: 4.6%
Operating Margin: 12.0%
Debt / Equity: 0.1x
Promoter Holding: 52.6%
12M Momentum: -32.6%

52-week range

₹344.45₹678.95

28% of the way from its 52-week low to its high

Price risk

1Y volatility

36.1%

Beta vs sector

1-year daily

0.65

Balance sheet & cash

Interest cover

operating profit ÷ interest

7.2x

Cash from profit, 3Y

operating cash flow ÷ net profit

2.36x

Share count, 1Y

+0.2%

Are profits backed by cash?

6 of 7checks within range1 near a threshold

Other income reliance-4%Within range

Other income as a share of pre-tax profit (trailing twelve months): -4.1%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate24%Within range

Median quarterly effective tax rate over about 2.5 years: 24.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion2.36xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 2.36x (cash from operations ₹3,125 cr, net profit ₹1,323 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow5 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 5. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-3 daysWithin range

Debtor days are below the median of the previous three fiscal years by 3 days (50 vs 53). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress35% of fixed assetsWithin range

Capital work-in-progress is 35% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+38 days / 2 yrsNear threshold

Days payable changed by +38 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 3 years, DIIs added 16.3 pts; FIIs trimmed 11.7 pts; promoters trimmed 2.2 pts.
The number of shareholders rose from 1.3 lakh to 1.4 lakh (+13%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change

Promoters54.8%52.6%-2.2 pts

FIIs23.6%11.8%-11.7 pts

DIIs11.7%28.0%+16.3 pts

Public and others9.5%7.2%-2.3 pts

Number of shareholders

1.4 lakhshareholders+13% since Sep '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

+0.3%typical 12-month return vs the marketNot meaningfully different from the base rate

We found 50 past situations where a non-financial company looked like SYNGENE INTERNATIONAL LTD today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −22% to +25% vs the market, against 0% for all non-financial companies in the same months.
The gap against the base rate (+0.6%, 80% range −9.8% to +4.4%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 1 beyond the range shown, drawn at the edge

Similar setups' median

+0.3%

All companies' median

−0.3%

Beat the market

50% vs 50%

50 past situations · 50 companies · 33 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
BORORENEW Process Industries	Apr 2023	87x	10%	−27%	−31%	−31%
RELAXO Consumer Non-Durables	Aug 2025	70x	11%	−40%	−43%	−30%
VOLTAS Producer Manufacturing	Sep 2022	60x	13%	−26%	−32%	−18%
NATCOPHARM Health Technology	Oct 2022	70x	4%	−27%	−35%	+21%
EIHOTEL Consumer Services	Mar 2021	39x	6%	+41%	−15%	+35%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
SFL Process Industries	Jun 2023	59x	14%	−9%	−26%	−48%
KENNAMET Producer Manufacturing	Jan 2021	73x	9%	−16%	−17%	+59%
LXCHEM Process Industries	Aug 2023	63x	11%	−10%	−23%	−32%

How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: drawdown from 12-month high, 12-month momentum and ROCE. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to SYNGENE INTERNATIONAL LTD. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

CARBORUNDUM UNIVERSALCARBORUNIV

Process Industries

78%similar

EPS growthmarket cap

BEMLBEML

Producer Manufacturing

64%similar

market capdebt/equity

TTK PRESTIGETTKPRESTIG

Consumer Durables

62%similar

debt/equityvolatility

TITAGARH RAIL SYSTEMSTITAGARH

Producer Manufacturing

61%similar

operating marginrevenue

GUJARAT ALKALIS & CHEMICALS LTGUJALKALI

Process Industries

60%similar

debt/equityP/E

SISSIS

Commercial Services

29%similar

EPS growthvolatility

QUESS CORPQUESS

Commercial Services

27%similar

debt/equitypromoter holding

TCPL PACKAGINGTCPLPACK

Commercial Services

27%similar

promoter holdingrevenue growth

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since Jul '23

2026
OctPriceFell 64% from the Dec 2024 peak to the Oct 2026 low.
OctValuationP/E crossed above the 90th percentile of its own history to date (73.4x).
OctPriceVolume reached 76.1x its 50-day median on 2026-10-28; price +12.2% that day.
SepPeer rankSlipped to the 2nd quartile of Commercial Services on operating margin (from the top quartile).
JulPriceVolume reached 20.1x its 50-day median on 2026-07-30; price -3.6% that day.
JunPeer rankMoved into the top quartile of Commercial Services on operating margin (from the 2nd quartile).
AprPriceVolume reached 65.7x its 50-day median on 2026-04-30; price +8.2% that day.
FebValuationP/E fell below the 10th percentile of its own history to date (36.3x).

Show 22 earlier events

2026
JanPriceVolume reached 13.7x its 50-day median on 2026-01-27; price -9.9% that day.
2025
DecResultsYear-on-year EPS growth turned negative.
DecPeer rankSlipped to the 2nd quartile of Commercial Services on operating margin (from the top quartile).
SepResultsYear-on-year EPS growth turned positive.
JulPriceVolume reached 5.7x its 50-day median on 2025-07-23; price +0.7% that day.
JunResultsYear-on-year EPS growth turned negative.
JunPeer rankSlipped to the 3rd quartile of Commercial Services on EPS growth (from the 2nd quartile).
AprPriceVolume reached 38.5x its 50-day median on 2025-04-24; price -12.8% that day.
MarResultsRevenue (TTM) reached a new high of ₹3,542 cr.
MarPeer rankMoved into the 2nd quartile of Commercial Services on EPS growth (from the 3rd quartile).
JanPriceVolume reached 7.9x its 50-day median on 2025-01-24; price -6.0% that day.
2024
DecPeer rankSlipped to the 3rd quartile of Commercial Services on EPS growth (from the 2nd quartile).
DecPriceVolume reached 6.8x its 50-day median on 2024-12-10; price +1.5% that day.
AugValuationP/E crossed above the 90th percentile of its own history to date (68.5x).
JunResultsRevenue (TTM) reached a new high of ₹3,489 cr.
AprPriceVolume reached 10.1x its 50-day median on 2024-04-25; price +0.7% that day.
MarPeer rankSlipped to the 3rd quartile of Commercial Services on ROCE (from the 2nd quartile).
2023
NovValuationP/E crossed above the 90th percentile of its own history to date (65.0x).
OctPeer rankSlipped to the 3rd quartile of Commercial Services on EPS growth (from the 2nd quartile).
OctPriceVolume reached 11.7x its 50-day median on 2023-10-18; price -6.7% that day.
AugPeer rankMoved into the 2nd quartile of Commercial Services on EPS growth (from the 3rd quartile).
JulPriceVolume reached 11.1x its 50-day median on 2023-07-27; price +5.9% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history60 months · 2021-12 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	79.6x	₹3600 cr	4.6%	10.0%	0.1x
2026-10	73.4x	₹3600 cr	4.6%	10.0%	0.1x
2026-09	66.5x	₹3600 cr	4.6%	10.0%	0.1x
2026-08	51.0x	₹3738 cr	6.6%	10.0%	0.1x
2026-07	49.1x	₹3738 cr	6.6%	10.0%	0.1x
2026-06	55.9x	₹3738 cr	6.6%	10.0%	0.1x
2026-05	50.6x	₹3720 cr	7.4%	13.0%	0.1x
2026-04	53.5x	₹3720 cr	7.4%	13.0%	0.1x
2026-03	44.6x	₹3720 cr	7.4%	13.0%	0.1x
2026-02	36.3x	₹3747 cr	9.9%	13.0%	0.1x
2026-01	40.7x	₹3747 cr	9.9%	13.0%	0.1x
2025-12	56.0x	₹3747 cr	9.9%	13.0%	0.1x
2025-11	51.5x	₹3727 cr	10.7%	13.0%	0.1x
2025-10	51.6x	₹3727 cr	10.7%	13.0%	0.1x
2025-09	49.4x	₹3727 cr	10.7%	13.0%	0.1x
2025-08	50.8x	₹3643 cr	10.5%	13.0%	0.1x
2025-07	57.9x	₹3643 cr	10.5%	13.0%	0.1x
2025-06	51.8x	₹3643 cr	10.5%	13.0%	0.1x
2025-05	51.8x	₹3542 cr	11.8%	15.0%	0.1x
2025-04	50.8x	₹3542 cr	11.8%	15.0%	0.1x
2025-03	58.2x	₹3542 cr	11.8%	15.0%	0.1x
2025-02	54.5x	₹3452 cr	11.3%	15.0%	0.1x
2025-01	62.3x	₹3452 cr	11.3%	15.0%	0.1x
2024-12	71.7x	₹3452 cr	11.3%	15.0%	0.1x
2024-11	76.9x	₹3471 cr	11.6%	15.0%	0.1x
2024-10	70.3x	₹3471 cr	11.6%	15.0%	0.1x
2024-09	73.4x	₹3471 cr	11.6%	15.0%	0.1x
2024-08	68.5x	₹3489 cr	12.0%	15.0%	0.1x
2024-07	63.7x	₹3489 cr	12.0%	15.0%	0.1x
2024-06	55.9x	₹3489 cr	12.0%	15.0%	0.1x
2024-05	58.1x	₹3193 cr	12.8%	15.0%	0.2x
2024-04	59.6x	₹3193 cr	12.8%	15.0%	0.2x
2024-03	60.7x	₹3193 cr	12.8%	15.0%	0.2x
2024-02	61.0x	₹3193 cr	12.8%	15.0%	0.2x
2024-01	64.9x	₹3193 cr	12.8%	15.0%	0.2x
2023-12	60.6x	₹3193 cr	12.8%	15.0%	0.2x
2023-11	65.0x	₹3193 cr	12.8%	15.0%	0.2x
2023-10	58.8x	₹3193 cr	12.8%	15.0%	0.2x
2023-09	69.5x	₹3193 cr	12.8%	15.0%	0.2x
2023-08	66.9x	₹3193 cr	12.8%	15.0%	0.2x
2023-07	68.8x	₹3193 cr	12.8%	15.0%	0.2x
2023-06	66.1x	₹3193 cr	12.8%	15.0%	0.2x
2023-05	73.4x	₹2604 cr	12.0%	13.0%	0.3x
2023-04	68.5x	₹2604 cr	12.0%	13.0%	0.3x
2023-03	60.2x	₹2604 cr	12.0%	13.0%	0.3x
2023-02	58.8x	₹2604 cr	12.0%	13.0%	0.3x
2023-01	56.9x	₹2604 cr	12.0%	13.0%	0.3x
2022-12	59.3x	₹2604 cr	12.0%	13.0%	0.3x
2022-11	61.5x	₹2604 cr	12.0%	13.0%	0.3x
2022-10	63.9x	₹2604 cr	12.0%	13.0%	0.3x
2022-09	56.7x	₹2604 cr	12.0%	13.0%	0.3x
2022-08	60.8x	₹2604 cr	12.0%	13.0%	0.3x
2022-07	57.5x	₹2604 cr	12.0%	13.0%	0.3x
2022-06	56.1x	₹2604 cr	12.0%	13.0%	0.3x
2022-05	56.6x	₹2184 cr	14.4%	14.0%	0.3x
2022-04	62.0x	₹2184 cr	14.4%	14.0%	0.3x
2022-03	59.1x	₹2184 cr	14.4%	14.0%	0.3x
2022-02	53.5x	₹2184 cr	14.4%	14.0%	0.3x
2022-01	56.3x	₹2184 cr	14.4%	14.0%	0.3x
2021-12	61.3x	₹2184 cr	14.4%	14.0%	0.3x

Older months are in the live observatory.

Methodology and data notes