Syngene International
India's leading integrated research & manufacturing services platform (Biocon group), serving global biopharma from discovery through commercial supply across small molecules & biologics.
A full research profile for one company — what it does, how its financials have trended, how the market values it, and a balanced bull/bear/base investment memo.
Scan the top row for the headline numbers, read the charts for trends, check the three gauge scores, then read the auto-generated memo at the bottom. Sources for every figure are linked at the very bottom.
- EBITDA
- — Earnings before interest, tax, depreciation & amortisation — a proxy for operating cash profit.
- PAT
- — Profit After Tax — the bottom-line net profit.
- FCF
- — Free Cash Flow — cash left after running the business and capital spending.
- ANDA
- — Abbreviated New Drug Application — the US FDA filing to sell a generic drug.
Revenue
₹ crore · FY
EBITDA
₹ crore · FY
Margins
EBITDA & PAT margin %
R&D Spend
₹ crore · FY
Free Cash Flow
₹ crore · FY
Revenue Mix
By geography / segment
Quality Score
Growth Score
Regulatory Risk
Snapshot
Business Model
How the company makes money
Integrated discovery (CRO) + development + manufacturing services for global innovators & biotech.
Biologics CDMO + biotech funding recovery
Biotech funding cycle & utilization
Peer Group
Click to compare
| Peer | Rev CAGR | EBITDA% | ROCE | P/E |
|---|---|---|---|---|
| Syngene International | -5% | 29% | 10.1% | 48x |
| Divi's Laboratories | 10% | 32% | 22% | 68x |
| Laurus Labs | 18% | 20% | 17.8% | 83x |
| Suven Pharmaceuticals (now Cohance Lifesciences) | -2% | 19% | 8.4% | 83x |
| Piramal Pharma | 0% | 16% | 7% | 110x |
Investment Memo
Auto-generated from the data layer — illustrative, not advice
- • Biologics CDMO + biotech funding recovery underpins a -5% 5Y revenue CAGR.
- • Premium 29% EBITDA margin with 10.1% ROCE signals durable economics.
- • Clean balance sheet (D/E 0.10) funds growth internally.
- • Biotech funding cycle & utilization.
- • Pricing/NLEM exposure on the domestic book can cap realisation.
- • Valuation at 48x P/E prices in continued execution — little margin for error.
Syngene International screens as a high-quality cdmo/crdmo franchise. With revenue of ₹3.6K Cr growing ~-5% and 29% EBITDA margins, the base case is steady compounding driven by biologics cdmo + biotech funding recovery, while watching biotech funding cycle & utilization.
Trades at 48x P/E, 17.0x EV/EBITDA and 3.8x P/B. A premium to the sector — justified only if growth and returns hold.
- 1 India IPM outperformance & chronic mix
- 2 Gross-margin trajectory & new-launch contribution
- 3 R&D productivity (filings/approvals per ₹ of R&D)
- 4 Capital allocation — capex payback & M&A discipline
CRDMO: Discovery/Development services ~60% (specialty field) + CDMO/manufacturing ~40%. Feb-2025 Bengaluru 483 (5 obs). 'R&D%' n/a for a services co. (modeled).