Syncom Formulations (India) Ltd Company Summary

Syncom Formulations (India) Ltd Summary

Incorporated as a private limited company in 1988, Syncom Formulations (India) Limited was converted into a public limited company in Jun.92. The Company in the Indian Pharmaceutical Industry represents synergistic combination of commitment and consistency. Syncom possesses the manufacturing strength in its own manufacturing set-up at Pithampur, Madhya Pradesh. Established in 1988, Syncom plant is geared up with latest production machineries and maintains high quality standards. Currently, the Company manufactures and markets more than 200 pharmaceutical formulations products in various dosage forms like Tablets, Capsules, Liquids Orals, Liquid Vials and Ampoule Injections & Dry Vial injections, Dry Syrups, Ointments and Inhalers.The company set up a manufacturing facility at Palghar, Thane to produce pharmaceutical formulations. Commercial production commenced in Apr.89. Promoters are Kedarmal Bankda, Vijay Kumar Bankda and Ajay Kumar Bankda.In addition to pharmaceutical formulations in the form of tablets, capsules, liquids and dry powders, the company also manufactures injectibles and ear/eye drops on a loan licence basis.In 1994, the company undertook an expansion programme of setting up a new plant for manufacturing pharmaceutical formulations at Pithampur, Madhya Pradesh. The project which was financed through a public issue made in Jan.94 was completed in 1995.During the year 1997-98, the Company has further diversified into Ethical Operations by introducing the range of prescription formulations.During the year 1998-99 there has been huge expansion of installed capacity and production base. Further the company plans introduction of products in the generic, OTC and Ethical Divisions. The export earnings have also registered a growth of more than 100%.During the year 1999-2000, the company and its associates have received export orders worth Rs.700.00 lacs against advance payment and hence better turnover is expected during the year. The company presently exports goods to Guine, Ghana, Kenya, Tanzania, Nigeria in Africa, Azberjan, Nepal and Srilanka in Asia. The company has been approved as a supplier to Central ESI Hospitals and registration of defence services is in its final stages, as a result of which will generate substantial sales volume. Keeping in view the shifting consumer preferenes for the use of herbal products, the company is aggressively manufacturing and marketing its herbal products like Edicare, Attom Megacaps, Ecziguard and Yas antacid salt.The modernisation of injectable section by putting Tunnel System and other modern equipments and expansion of tablet department byputting high speed mega press machines was completed in 2002. The Company carried out an expansion program of the installedcapacities of its manufacturing unit at Pithampur, Dist. Dhar to increase the capacity of tablet section by 35% and also doubling of thecapacity of capsule section. Capacity of packing section was increased in line with the increase in capacity of the said formulationsections. The expansion cum modernization program was implemented at a total cost of Rs. 1.34 crore out of which the major expenditure was incurred in 2002-03. The expanded capacities were made available for production from May, 2003.In 2007, the Company launched a new division Cratus Life Care to expand its operations. The expansion cum modernization project at Pithampur unit was completed with the total investment costing Rs 15.17 Crore during the year 2007-08. The Company raised long term financial resources by way of preference issuance of 3,10,000 equity shares of Rs.10 each at a premium of Rs.36 per share on 29 March, 2008 to the promoters of the Company and the said Equity got listed with the BSE in 2008.In 2020-21, the business activity of the Company was expanded by increasing the overall production capacity of Injectable capacity from 200 Lakhs to 300 Lakhs per annum and to modernize the Tablet Department within an overall cost of Rs. 4031.50 Lakhs whichwas funded by the issuance of fresh share capital to meet the overall cost of the project.