Syncom Formulations (India) Limited has reported its financial results for the quarter ended September 30, 2023, showing a mixed performance with declines in both revenue and profit compared to the previous quarter.

Key Financial Highlights

• Revenue: Decreased to ₹1,214.35 crore from ₹1,654.67 crore in the previous quarter, marking a decline.
• Net Profit: Dropped to ₹157.29 crore from ₹169.50 crore in the prior quarter.
• Half-Year Performance: For the six-month period, revenue reached ₹2,869.02 crore, up from ₹1,873.57 crore in the corresponding previous period.
• Earnings Per Share (EPS): Basic EPS for the quarter was ₹0.18, down from ₹0.21 in the previous quarter.

Segment-wise Operations

Syncom Formulations operates in three main segments:

1. Pharmaceuticals, Drugs & Formulations
2. Trading of Commodities
3. Renting of Property

Financial Position

The company's financial results were approved by the Board of Directors at their meeting held on November 12, 2023.

Management Commentary

No specific management comments were provided in the financial results.

Note: All financial figures are in Indian rupees and are based on the quarterly results for the period ended September 30, 2023.

Syncom Formulations (India) Limited, a pharmaceutical company, has disclosed significant changes in its leadership team. The company announced the resignations of two key executives, effective August 8, 2025, in a filing to the stock exchanges on August 18, 2025.

Leadership Changes

Shri Ankit Kedarmal Bankda has stepped down from his position as Chief Financial Officer (CFO), a role categorized as Senior Management Personnel within the company. Simultaneously, Smt. Rinki Ankit Banka has resigned from her roles as Director and Whole-time Director.

Timing and Disclosure

The resignations took effect from the close of business hours on August 8, 2025. However, Syncom Formulations filed the disclosure on August 18, 2025, citing internal processing and final settlement formalities with the departing executives as reasons for the delay in submission.

Regulatory Compliance

The company made this announcement in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Syncom Formulations submitted a fresh Corporate Announcement along with the resignation letters of the concerned officials, as directed by the Listing Compliance Monitoring Team.

Company's Response

In its filing, Syncom Formulations stated, "The delay in submission of disclosure regarding resignation was due to internal processing and final settlement/payment formalities of the concerned person, which took some additional time." The company assured that the delay was inadvertent and unintentional, pledging timely compliance in the future.

Impact on Company Structure

These resignations significantly affect Syncom Formulations' senior management structure and board composition. The departure of the CFO and a Whole-time Director simultaneously may lead to a transitional period as the company seeks to fill these crucial positions.

Investors and stakeholders will likely be watching closely to see how the company manages this leadership transition and any potential impact on its operations and strategic direction.