Syncom formulations (India) Limited has scheduled a board meeting to review its third-quarter financial performance for fiscal year 2026. The pharmaceutical company, which holds WHO-GMP and ISO 9001-2000 certifications, made the announcement in compliance with regulatory requirements for listed companies.

Board Meeting Details

The company's board of directors will convene for their 5/2025-26 meeting with specific timing and location arrangements:

Agenda Items

The board meeting will address several key financial and regulatory matters for the quarter and nine months ended December 31, 2025:

• Consideration and approval of standalone and consolidated unaudited financial results
• Recording of standalone and consolidated limited review report by auditors for the unaudited financial results
• Review of other matters incidental to the financial results

Regulatory Compliance

Syncom Formulations made this announcement pursuant to Regulation 29(1)(a) of SEBI (LODR) Regulations, 2015, read with SEBI (PIT) Regulations, 2015. The company indicated it is in the process of filing the corporate announcement in XBRL format within the stipulated timeframe.

Company Information

Syncom Formulations (India) Limited operates as a WHO-GMP and ISO 9001-2000 certified pharmaceutical company with CIN number L24239MH1988PLC047759. The company maintains its registered office in Mumbai, manufacturing facilities in Pithampur, Madhya Pradesh, and corporate office in Indore. The announcement was signed by Vaishali Agrawal, Company Secretary and Compliance Officer, on February 4, 2026.

Syncom Formulations (India) Limited has received a revised GST demand and penalty notice totaling ₹1.42 crores from the GST department, following the rejection of its earlier appeal. The WHO-GMP and ISO 9001-2000 certified pharmaceutical company disclosed this development through a regulatory filing on January 3, 2026.

GST Demand Details

The GST department has raised demands under sections 74(5) and 122 of the CGST Act, 2017, with payment required by January 31, 2026. The demand stems from allegations of ineligible input tax credit (ITC) availed by the company on certain input services and blocked credits.

Timeline of Events

The company had previously filed an appeal against the initial demand, which was subsequently rejected by the authorities. Key dates in the process include:

• Notice Date: December 31, 2025
• Receipt Date: January 2, 2026
• Payment Deadline: January 31, 2026
• Previous Communication: April 5, 2025 (referenced as SYNCOM/SE/2025-26)

Regulatory Authority and Allegations

The demand has been issued by the Office of Superintendent, Range-V, Division X, Mumbai-East, CBIC, Maharashtra. The tax authorities allege that Syncom Formulations availed input tax credits on ineligible input services and blocked credits, which forms the basis for the current demand and penalty.

Company's Response Strategy

Syncom Formulations has indicated its intention to challenge the revised demand through proper legal channels. The company stated it is seeking necessary legal advice and proposes to contest the demand and penalty by filing an appeal before the appropriate appellate authority or department.

The pharmaceutical company emphasized its commitment to ensuring optimum compliance with all applicable laws while pursuing available legal remedies to address the GST demand.

Financial Impact

The total demand of ₹1.42 crores represents a significant regulatory challenge for the company. The equal split between the principal demand and penalty amount reflects the serious nature of the alleged violations under GST regulations. The company will need to manage this financial obligation while pursuing its appeal process through the designated appellate mechanisms.