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.

Syncom Formulations (India) Limited, a prominent player in the pharmaceutical sector, has reported robust financial results for the first quarter, demonstrating significant growth across key metrics.

Financial Highlights

The company's standalone financial results for Q1 showcase impressive year-over-year growth:

• Revenue from operations surged to ₹11,654.69 crore, marking a 34.00% increase from ₹8,683.09 crore in the same quarter last year.
• Net profit more than doubled to ₹1,572.93 crore, compared to ₹762.86 crore in the previous year's Q1, representing a 106.00% growth.
• EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) rose to ₹2,179.44 crore from ₹1,178.34 crore, an increase of 85.00%.
• EBITDA margin improved to 18.70% from 13.57% year-over-year, indicating enhanced operational efficiency.

Segment Performance

Syncom Formulations operates in three segments:

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

The Pharmaceuticals Drugs & Formulations segment remained the primary revenue driver, contributing ₹12,062.52 crore to the total revenue.

Board Decisions

In a board meeting held on August 8, several key decisions were made:

New Appointments

• M/s M. Goyal & Co. appointed as Cost Auditor
• M/s D.K. Jain & Co. appointed as Secretarial Auditor for a term of 5 years
• M/s Bansal & Agrawal appointed as Internal Auditor

Leadership Changes

• Shri Kedarmal Shankarlal Bankda re-designated from Chairman and Whole-time Director to Whole-time Director
• Shri Ankit Kedarmal Bankda appointed as Additional Director and designated as Chairman and Whole Time Director
• Shri Rahul Vijay Bankda appointed as Chief Financial Officer (CFO)
• Smt. Rinki Ankit Banka resigned from the position of Whole Time Director

Other Decisions

• Amendments to the Memorandum of Association and Articles of Association, subject to shareholder approval
• The 37th Annual General Meeting (AGM) scheduled for September 29, to be held through Video Conferencing / Other Audio-Visual Means

Future Outlook

With strong Q1 results and strategic leadership changes, Syncom Formulations appears well-positioned for continued growth. The company's focus on its core pharmaceutical business, coupled with improvements in operational efficiency, suggests a positive outlook for the remainder of the fiscal year.

Investors and stakeholders will be keenly watching how the new leadership team navigates the company through the evolving pharmaceutical landscape and capitalizes on growth opportunities in the coming quarters.