Syngene International

Syngene shares rise over 3% after 8 mn equity changes hand via block deal

Reports suggest promoter Biocon was likely to sell a 2 per cent stake in the company via block deals

Syngene International Q2 results: PAT down by 8.93%, revenue drops by 2%

Syngene plans to expand its capacity and capabilities at its Bangalore and Hyderabad campuses to meet anticipated long-term demand

F&O Cues: Premium jumps in Nifty, Bank Nifty futures; options flag caution

Derivatives market update for Sept 06: The Nifty PCR dipped from 0.74, while Bank Nifty to 0.78; reflecting a cautionary trend said Dhupesh Dhameja of SAMCO Securities. Max Financial see short buildup

F&O Cues: Options data hint more gains for Nifty; 4 stocks see long buildup

Derivative market update for Monday, Sept 02: FIIs long-short ratio in index futures rose to 2.6:1, implying 5 longs for every 2 shorts. Bandhan Bank, Syngene and Granules India see long buildup.

Upgrading acquired Stelis unit to triple Syngene's biologics capacity by H2

The company plans to expand research and manufacturing facilities, allocates Rs 500 cr capex for FY25

Goldman Sachs bullish on Indian CDMO sector, recommends buying these stocks

Goldman Sachs attributes India's underpenetrated CDMO and CRO market to smaller capacities, lack of Innovation with little collaboration between Industry and academia

Syngene International Q3 results: Profit after tax up 4%; revenue rises 9%

About a week ago, Syngene International's share price declined by 3 per cent following UBS Global Research stock downgrade to sell

Syngene International Q3 results: Net profit rises 1.64% to Rs 111.5 crore

Contract research and manufacturing services firm Syngene International Ltd on Thursday reported 1.64 per cent growth in consolidated net profit at Rs 111.5 crore in the third quarter ended December 2023, impacted by reduced funding in the US biotech segment and transaction costs of the acquisition of a multi-modal facility from Stelis Biopharma. The company had posted a profit of Rs 109.7 crore in the third quarter of last fiscal, Syngene International said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 853.5 crore as against Rs 785.9 crore in the year-ago period, it added. Total expenses in the third quarter were higher at Rs 740.9 crore as compared to Rs 663.2 crore in the same period a year ago, Syngene International said. The company incurred transaction costs of Rs 3.7 crore in the quarter ended December 2023 relating to the acquisition of multi-modal facility (Unit 3) from Stelis Biopharma Ltd (SBL) and the same has b

Syngene International Q2 results: Net profit rises 14.22% to Rs 116.5 crore

Syngene International Ltd on Tuesday reported a 14.22 per cent increase in consolidated net profit at Rs 116.5 crore in the September quarter. The company had posted a consolidated net profit of Rs 102 crore in the year-ago period, Syngene International said in a regulatory filing. Consolidated revenue from operations were at Rs 910.1 crore as compared to Rs 768.1 crore in the year-ago period, it added. The company's total expenses rose to Rs 773.6 crore in the second quarter of the current fiscal as against Rs 653.5 crore a year ago. Syngene International Managing Director and CEO Jonathan Hunt said the company posted strong results for the second quarter and first half of the ongoing financial year, particularly in its development and manufacturing services. "In development services, we also added a new non-GMP capability centre to meet market demand for agile, cost-efficient, early phase development and scale-up services," he said. "In manufacturing, we made good progress on o

Syngene International Q1 net profit increases by 26% to Rs 93 crore

Contract manufacturing services firm Syngene International on Wednesday said its consolidated net profit increased 26 per cent to Rs 93 crore in the June quarter. The company had reported a net profit of Rs 74 crore in the April-June quarter of last fiscal. Revenue rose to Rs 832 crore for the first quarter of the current fiscal as against Rs 660 crore in the year-ago period, Syngene International said in a regulatory filing. Syngene International Chief Financial Officer Sibaji Biswas said the financial performance of the company is in line with the revenue growth guidance for the year on a constant currency basis. "We made investments in growing our portfolios in biologics manufacturing and discovery services. Despite these investments, the company will continue to maintain a strong balance sheet and a low debt profile," he added. Shares of the company on Wednesday ended 1.84 per cent down at Rs 761.65 apiece on the BSE.

Syngene International's PAT rises 21% at Rs 179 cr in March quarter

Contract manufacturing services firm Syngene International on Wednesday said its profit after tax rose 21 per cent to Rs 179 crore during the March quarter. The Bengaluru-based firm had reported a Profit After Tax (PAT) of Rs 148 crore in the year-ago period. Revenue from operations rose to Rs 994 crore in the fourth quarter as compared with Rs 758 crore in the corresponding period of the last year, Syngene International said in a statement. For FY23, the company reported a PAT of Rs 464 crore, up 17 per cent, as against Rs 396 crore in the 2021-22 fiscal. Revenue from operations rose to Rs 3,193 crore in FY23 as compared with Rs 2,604 in 2021-22 fiscal. "All business divisions delivered growth through the year triggering investment in additional laboratory capacity and new facilities at our campuses in Bengaluru and Hyderabad, as well as creating over 1,000 new jobs," Syngene International Managing Director and CEO Jonathan Hunt said. Looking ahead, the company is optimistic abo

Biocon sells 9.96% stake in contract research firm Syngene via open market

Bengaluru-based Biocon had in September 2022 sold a 5.4% stake in the open market, as per an exchange filing

Syngene International's net profit rises 53% to Rs 102 crore in Q2

Syngene International on Wednesday reported a 53 per cent rise in consolidated net profit at Rs 102 crore in the second quarter ended September 2022 on the back of higher revenue. The company, which is an integrated research, development and manufacturing services firm, had posted a consolidated net profit of Rs 66.7 crore in the same period last fiscal, it said in a regulatory filing. Consolidated revenue from operations during the period under review stood at Rs 768.1 crore as against Rs 610.2 crore in the year-ago quarter, it added. "The quarter saw positive performances across all divisions. Our research divisions -- discovery services, including Synvent, our integrated drug discovery platform, and the dedicated centres showed sustained growth. Discovery chemistry in particular saw buoyant customer demand," Syngene International Ltd Managing Director and CEO Jonathan Hunt said. Growth in development services was led by existing clients renewing contracts and setting up ...

Biocon sells 5.4% stake in arm Syngene International for Rs 1,220 cr

Drugmaker Biocon on Tuesday divested a 5.4 per cent stake in its research arm Syngene International for a little over Rs 1,220 crore through an open market transaction. According to bulk deal data available with the BSE, Biocon, the promoter of Syngene International, sold a total of 21,789,164 shares, amounting to a 5.4 per cent stake, in the company. The shares were sold at an average price of Rs 560.04 apiece, a discount of more than three per cent to Monday's closing price of Rs 578.75 on the BSE. At this price, the transaction size has been pegged at Rs 1,220.28 crore, the data showed. The scrip of Syngene International has settled 2.38 per cent lower at Rs 565 apiece on the BSE. ICICI Prudential Mutual Fund was among the entities that lapped up the company's shares. As of June year, of the promoters' holding of 70.29 per cent, Biocon held a 69.99 per cent stake in Syngene, the shareholding pattern with the exchange showed. In separate block deals, Raja Ganesan Chandramogan,

Syngene trades weak after nearly 6% equity changes hands via block deals

At 09:15 am; around 22.68 million equity shares representing 5.65 per cent of the total equity of Syngene changed hands on the BSE, the exchange data shows.

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Syngene International Q1 PAT slips 4% to Rs 74 cr; revenue rises 8%

Contract manufacturing services firm Syngene International on Wednesday reported a 4 per cent decline in profit after tax to Rs 74 crore for the first quarter ended June 2022. The company had posted a PAT of Rs 77 crore in the April-June quarter of last fiscal. Its revenue from operations rose to Rs 644 crore in the first quarter against Rs 595 crore in the year-ago period, the company said in a statement. The first quarter results were against a strong quarter last year due to sales of Remdesivir, it added. Excluding the impact of Remdesivir, the underlying revenue from operations growth in the quarter stood at around 30 per cent year-on-year, it stated. "The first quarter results were in line with our expectations and reflect strong underlying performance across all our business divisions. The contribution from the development and manufacturing services divisions drove the growth momentum against a low base in the previous year," Syngene International MD and CEO Jonathan Hunt ..

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Deal with Zoetis could be worth $500 mn in 10 yrs: Syngene In'l chief

In a Q&A, Jonathan Hunt, MD & CEO of the Biocon arm, dwells on his firm's initiatives to overcome supply chain bottlenecks and other issues

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