Syncom Formulations (India) Ltd. — Interim / Quarterly Report 2023

Nov 8, 2023

SYNCOM/SE/2023-24 8

th November, 2023

Online filing at: www.listing.bseindia.com and https://neaps.nseindia.com/NEWLISTINGCORP/login.jsp

To, BSE Limited Phiroze Jeejeebhoy Tower, Dalal Street, Mumbai (M.H.) 400 001 BSE CODE:524470

To, National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai- 400051 NSE SYMBOL: SYNCOMF

Subject: Regulation 33(3)(d) of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 - Submission of Standalone & Consolidated Un-Audited Financial Results along with Limited Review Report thereon for the Quarter and Half year ended on 30th September, 2023.

Dear Sir/Ma'am,

This is in continuation of our letter no. SYNCOM/SE/2023-24 dated 27th October, 2023 regarding intimation of Board meeting for consideration and approval of Standalone and Consolidated Un-Audited Financial Results for the Quarter/ Half Year ended 30th September, 2023.

Pursuant to Regulation 33(3)(d) of SEBI (LODR) Regulations, 2015, we are pleased to submit the following:

• 1. Standalone and Consolidated Un-Audited Financial Results of the Company for the Quarter/ Half Year ended on 30th September, 2023;
• 1. Standalone and Consolidated Limited Review Report by the Statutory Auditors of the company for the Quarter/ Half Year ended on 30th September, 2023;
• 1. Standalone and Consolidated Un-Audited Statement of Assets and Liabilities for the Quarter/ Half Year ended on 30th September, 2023; and
• 1. Standalone and Consolidated Un-Audited Statement of Cash Flow for the half year ended on 30th September, 2023.

which was considered and approved by the Board at their 4/2023-24 Meeting held on Wednesday, the 8 thNovember, 2023 at 11.00 A.M. and Concluded at 2.45 P.M. We are also in process to file the aforesaid financial results in XBRL format within the stipulated time and the same shall also be hosted on the website of the company.

The Financial Results will also be published in widely circulated English and Hindi (Vernacular) newspaper in the prescribed format within the stipulated time period.

You are requested to take on record the above said Standalone and Consolidated Un-Audited Financial Results along with Limited Review Report for your reference and record.

Thanking You, Yours Faithfully, For, SYNCOM FORMULATIONS (INDIA) LIMITED

VAISHALI AGRAWAL Digitally signed by VAISHALI AGRAWAL Date: 2023.11.08 14:54:45 +05'30'

CS VAISHALI AGRAWAL COMPANY SECRETARY & COMPLIANCE OFFICER Encl: a/a

!@~ . ^~ _. _.....~. -

- SYNCOM FORMULATIONS (INDIA) LIMITED ~~ Regd.Oft :- 7,Niraj Industrial Estate, Of Mahakali Caves Road,Andheri (E) Mumbai-400093

a Works.- 256-257, Sector - 1, Pithampur, Dist: Dhar-454775

^E Mail:- finance@sfit.in, Website:- www .sfil.in, CIN :- L24239MH1988PLC047759

STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER, 2023

							Rs. In Lacs except EPS
s. No.	Particulars	Quarter Ended			Year to date Ended		Previous Year Ended
		30-09-2023	30-06-2023	30-09-2022	30-09-2023	30-09-2022	31-03-2023
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	Revenue from Operations	6238.68	5936.43	5449.14	rs1	10589.18	22464.39
2	Other Income +	400.35	187.74	287.19	588.09	585.16	1460.95
3	Total Income (1+2)	6639.03	6124.17	5736.33	12763.20	11174.34	23925.34
4	EXPENSES					5191.32	9946.06
	( a ) Cost of materials consumed	3325.08	2265.31 914.08	2888.04 978.87	5590.39 1733.97	1845.93	4261.14
	( b) Purchases of Stock-in-Trade ( c ) Changes in inventories of finished goods, Stock-in- Trade	819.89 ,
	and work-in-progress	(308.60)	390.53	(233.88)	81.93	(81.80)	503
	( d ) Employee benefits expense	900.10	762.81	643.26	1662.91	1141.12	2586.56
	( e ) Finance costs	107.57	112.17	61.76	219.74	112.13	313.02
	( f ) Depreciation and amortization expense	87.88	110.00	117.50	' 197.88	217.00	453.93
	( g ) Other expenses	893.03	987.93	743.84	1880.96	1714.94	3704.28
	Total expenses ( 4)	5824.95	5542.83	5199.39	11367.78	10140.64	21270.02
5	Profit/(loss) before exceptional items and tax (3-4)	814.08	581.34	536.94	1395.42	1033.70	2655.32
6	Exceptional Items	0.00	0.00	0.00		0.00	1.33
7	Profit/(loss) before tax ( 5-6)	814.08	581.34	536.94	1395.42	1033.70	2656.65
8	Tax expense:			142.00	308.71	245.00	664.84
	(1) Current tax (2) Deferred tax	148.41 45.12	160.30 (381)	35.10	41.31	42.10	(15.26)
9	Profit (Loss) for the period from continuing operations (7-8)
		620.55	424.85	359.84	1045.40	746.60	2007.07
10	ProfiU(loss) from discontinued operations	0.00 0.00	0.00 0.00	0.00 0.00	0.00 0.00	0.00 0.00	0.00 0.00
11	Tax expense of discontinued operations ProfiU(loss) from Discontinued operations (after tax) (10-11)
12		0.00	0.00	0.00	0.00	0.00	0.00
13	ProfiU(loss) for the period ( 9 + 12)	620.55	424.85	359.84	1045.40	746.60	2007.07
14	Other Comprehensive Income
	A(i)ltems that will not be reclassified to profit or loss	0.00	0.00	0.00	0.00	0.00	0.00
	(ii) Income tax relating to items that will not be reclassified to profit or loss	0.00	0.00	0.00	0.00	0.00	0.00
	B (i) Items that will be reclassified to profit or loss	124.34	206.77	121.30	331.11	35.94	196.36
	(ii) Income tax relating to items that will be reclassified to profit
	or loss	0.00	0.00	0.00	0.00	0.00	0.00
15	period (Xlll+XIV) Total Comprehensive for the Income Comprehensive (Comprising Profit (Loss) Other and
	Income for the period)	744.89	631.62	481.14	1376.51	782.54	2203.43
16	Paid up Share Capital of the Company (Face Value 1/-)	9400.00	9400.00	9400.00	9400.00	9400.00	9400.00
17	Reserves excluding revaluation reserves	0.00	0.00	0.00	0.00	0.00	16201.47
18	Earnings per equity share (for continuing operation):
	(1) Basic	0.08	0.07	0.06	0.15	0.09	0.24
	(2) Diluted	0.08	0.07	0.06	0.15	0.09	0.24
19	Earnings per equity share (for discontinued operation).
	(1) Basic	0.00 0.00	0.00 0.00	0.00 0.00	000 0.00	0.00 0.00	0.00 0.00
20	(2) Diluted (for discontinued & continuing per equity share Earnings operations)
	(1) Basic	0.08 0.08	0.07 0.07	0.06 0.06	0.15 0.15	0.09 0.09	0.24 0.24
Place: Indore	[2) Diluted Date: 08/11/2023		a ONs(/'	1,,_	~	For, Syncom Formulations	(India) Limited
				,
		h>		'		Kedarma! shankaral	Bankda

4S

Regd.Off :- ⁷ ,Niraj Industrial Estate, Off Mahakali Caves Road,Andheri (E) Mumbai-400093

Works:- 256-257, Sector - 1, Pithampur, Dist: Dhar-454775

^E Mail:- finance@sfil.in, Website:- www.sfl.in, CIN :- L24239MH1988PLC047759

STANDALONE STATEMENT OF SEGMENT WISE REVENUE, RESULTS ALONG WITH QUARTERLY AND HALF YEARLY UNAUDITED RESULTS

							Rs. In Lacs
		Quarter Ended			Year to date Ended	Previous Year Ended
S. No.	Particulars	30-09-2023	30-06-2023	30-09-2022	30-09-2023	30-09-2022	31-03-2023
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	Segment Revenue
	a) Pharmaceuticals Drugs & Formulations	6255.88	5559.41	5644.39	11815.29	10490.19	21037.66
	b) Trading of Commodities	286.04	456.98 107.78	1.43 90.51	743.02 204.89	511.84 172.31	2552.40 335.28
	c) Renting of Property	97.11		5736.33	12763.20	11174.34	23925.34
	Total Segment Revenue	6639.03	6124.17	0.00			0.00
	Less: Inter Segment Revenue	0.00	0.00	5736.33	12763.20	11174.34	23925.34
	Total Income	6639.03	6124.17
2	Segment Results Profit(+)/Loss(-) before tax
	and interest from each segment a) Pharmaceuticals Drugs & Formulations	823.70	595.98	507.87	1419.68	955.50	2620.14
	b) Trading of Commodities	5.38	-5.70	0.32	-0.32	18.02	32.43
	c) Renting of Property	92.57	103.23	90.51	195.80	172.31	317.10
	Total Profit before tax and Interest	921.65	693.51	598.70	1615.16	1145.83	2969.67
	Less: i) Interest	107.57	112.17	61.76	219.74	11213	313.02
	ii) Other Un-allocable Expenditure	0.00	0.00	0.00	0.00	0.00	0.00
	Profit before tax	814.08	581.34	536.94	1395.42	1033.70	2656.65
3	(Segment Asset-Segment Liabilities)
	Segment Asset
	a) Pharmaceuticals Drugs & Formulations	34624.25	32038.86	32915.28	34624.25	32915.28	32002.05
	b) Trading of Commodities	1063.79	980.14	0.00	1063.79	0.00	958.89
	c) Renting of Property	4733.45	4733.45	4753.65	4733.45	4753.65	4733.45
	Total Segment Asset	40421.49	37752.45	37668.93	40421.49	37668.93	37694.39
	Un-allocable Assets		0.00
	Net Segment Asset	40421.49	37752.45	37668.93	40421.49	37668.93	37694.39
	Segment Liabilities
	a) Pharmaceuticals Drugs & Formulations	13155.03	11095.28	13330.61	13155.03	13330.61	11749.56
	b) Trading of Commodities	131.38	260.49	0.00	131.38	0.00	179.91 163.44
	c) Renting of Property	163.44	163.56	157.74	163.44	157.74	12092.91
	Total Segment Liabilities	13449.85	11519.33	13488.35	13449.85	13488.35
	Un-allocable Liabilities	0.00	0.00	0.00			0.00 12092.91
	Net Segment Liabilities	13449.85	11519.33	13488.35	13449.85	13488.35

Notes:-

¹ The above results were reviewed by the Audit Committee and approved by the Board at its meeting held on 08/11/2023

² These above results have been prepared in compliance with the Indian Accounting Standard (referred to as "Ind AS") as notified prescribed under Section 133 of the Companies Act. 2013 read with Companies (Indian Accounting Standards) Rules 2015 as amended from time to time.

³ The company is operating in ³ segments i.e. (a) Pharmaceuticals Drugs & Formulations (b) Trading of Commodities (c) Renting of Property, particulars of segment wise results are given as required.

⁴ The Standalone Statement of Assets and Liabilities as at 30th September, 2023 and the Standalone Statement of Cash Flow is provided as an annexure to this statement.

⁵ As required under Regulation 33 of SEBI (LODR) Regulations, 2015 the limited review by the Statutory Auditors have been completed for the quarter ended on 30th September 2023. The report does not have any impact on the above results and notes which needs explanation.

6 Previous period figures have been regrouped/reclassified wherever necessary to confirm to this period classification.

⁷ The company has The company has generated Rs. 1035.76 Lakhs being the upfront amount and Rs. 2995.74 Lakhs by conversion 0f 15,93,47,820 warrants to 15,93,47,820 equity shares of Rs. 1/- each issued at ^a premium of Rs. 1.53 per share aggregating Rs. 4031.50 Lakhs. Out of which the company has already utilized the amount of Rs. 3855.75 Lakhs (Including capital work in progress), Remaining unutilized amount of Rs. 175.74 Lakhs will be used in the subsequent period. There is no deviation in the project till 30th Sep 2023 and necessary report towards as required under regulation ³² being filed to the BSE Ltd. & NSE Ltd. Separately

⁸ The company is having three wholly owned subsidiaries namely Synmex Pharma Pvt.Ltd, Sante Biotech Pvt.Ltd and Vinci! Biotech International Pvt.Ltd which have commenced their business activities. Details of the same has been stated in consolidated financial statement.

Place: Indore

Date: 08/11/2023

·- & ~n4Os , ~ 2 ^o >n Chairman & Wholetime Director Li e a" p ~ ~@~ s96%%

2>Kedarmal Shankarlal Bankda DIN: 00023050

For, Syncom Formulations (India) Limited

SYNCOM FORMULATIONS (INDIA)	LIMITED
Regd.Off :- 7,Niraj Industrial Estate, Of Mahakali Caves Road,Andheri (E) Mumbai-400093
Works:- 256-257, Sector - 1, Pithampur, Dist:. Dhar-454775
E Mail:- finance@sfil.in, Website:- www .sfil.in, CIN :- L24239MH1988PLC047759
Standalone Statement of Assets & Liabilities as at 30/09/2023 Particulars		31-03-2023
Rs. In Lacs	30-09-2023 unaudited	Audited
ASSETS
Non-current assets
(a) Property, Plant and Equipment	7,265.16	4,322.28
(b) Capital Work in Progress	1.39	2,558.58
(c) Intangible assets	14.60	17.64
(d) Investment Property	4,733.45	4,733.44
(e) Financial Assets
(i) Investments	728.45	186.65 7,572.84
(ii) Fixed Deposits & Accrued Interest	8,310.68	49.75
(iii) Deposits	51.75	176.14
(f) Other Non Current Assets	75.14
Current assets		2,077.39
(a) Inventories	2,007.34
(b) Financial Assets	6,121.73	6,226.49
(i) Investments	9,622.60	7,513.83
(ii) Trade Receivables	12.70	82.70
(iii) Cash And Cash Equivalents	-	775.20
(iv) Bank Balances other than (iii) above	384.76	374.42
(v) Deposits	518.94	278.00
(vi) Loans & Advances (d) Other Current Assets	572.80	749.04
Total	40,421.49	37,694.39
EQUITY AND LIABILITIES
Equity
(a) Equity Share Capital	9,400.00	9,400.00
(b) Other Equity	17,571.64	16,201.47
Liabilities
Non Current Liabilities
(a) Financial Liabilities
(i) Trade and other Deposits	163.63	154.14
(b) Provisions	290.04	269.24
(c) Deferred Tax Liabilities (Net)	483.55	442.24
Current liabilities
(a) Financial liabilities
(i) Borrowings	8,008.95	8,318.15
(ii) Trade Payables
Total Outstanding Dues of Micro Enterprises and Small Enterprises	385.05	306.91
Total Outstanding Dues of Creditors other than Micro Enterprises and Small Enterprises	2,277.21	1,733.94
(iii) Other Financial Liabilities	216.84	202.18
(b) Other Current Liabilities	1,343.01	405.25
(c) Provisions	281.57	260.87
Total	40,421.49	37,694.39

SYNCOM FORMULATIONS (INDIA) LIMITED

Regd.Off :- 7,Niraj Industrial Estate, Off Mahakali Caves Road,Andheri (E) Mumbai-400093

Works:- 256-257, Sector - 1, Pithampur, Dist: Dhar-454775

^E Mail:- finance@sfilin, Website:- www.sfil.in, CIN .- L24239MH1988PLC047759 Standalone Cash Flow Statement for the half year ended 30/09/2023

Particulars	30-09-2023	31-03-2023
Rs. In Lacs	unaudited	Audited
Cash Flow from Operating Activities
Profit before extraordinary item and tax	1,395.42	2,655.32
Adjustments for:
Gain on Sale of Machinery/ (Loss on Sale of Vehicle)		1.33
Gain/(Loss) on Actuarial valuation of employee benefits	(6.35)	(3.73)
Depreciation	197.88	453.93
Depreciation Written Back		(8.28)
Finance Costs	219.74	313.02
Other Income	(579.31)	(1,368.72)
Operating Profit before working capital changes	1,227.38	2,042.87
Changes in Working Capital
Inventory	70 04	(126.75)
Trade Receivables	(2,108.77)	(758.82)
Loans & Advances	(240.94)	53.14
Other Current Assets	165.89	(358.64)
Trade Payables	621.40	661.71
Other Financial Liabilities	14.66	183.00
Other Current Liabilities	937.77	141.80
Short Term Provisions	14.34	(123.85)
Changes in Working Capital	(525.61)	(328.41)
Cash Generated from Operations before Tax	701.77	1,714.46
Less: Income Tax Paid	308.71	664.84
Net Cash From Operating Activities	393.06	1,049.62
Cash Flow from Investing Activities
Change in Property Plant and Equipment, Intangible Assets and		(2,063.47)
Capital Work in Progress	(580.53)
Change in Investment Property	-	(20.10)
Change in Fixed Deposit & Accrued Interest	37.37	(1,935.29)
Change in Deposits	(2.00)	(16.00)
Change in Other Non Current Assets	101.01	43 04
Change in Trade & Other Deposits	9.49	6.49
Other Income	579.31	1,368.72
Change in Investment	(99.58)	(1,880.70)
Net Cash from Investing Activities	45.07	(4,497.31)
Cash Flow from Financing Activities
Finance Costs	(219.74)	(313.02)
Change in Long Term Liabilities	20.81	98.29
Issue of Warrants & Share capital		1,457.88
Dividend Paid		(282.00)
Borrowings	(309.19)	2,539.07
Net Cash from Financing Activities	(508.12)	3,500.22
Net Decrease in Cash & Cash Equivalents	(70.00)
Cash & Cash Equivalents at the beginning of the Period	82.70
Cash & Cash Equivalents at the End of Period	12.70

SAIIIJAY MEHTA & ASSOGIATES

Ch arteredAccountants

Limited Review Report on Un-audited Standalone Financial Results for the Quarter & Half Year ended 30th September, 2023 pursuant to Regutation 33 of the SEBI (LODR) Regulations, 2015

To, The Board of Directors SYNCOM FORMULATTONS (lNDlA) LtMITED lndore (M.P.)

We have reviewed the accompanying statement of Standalone Unaudited Financial Results of SYNCOM FORMULATIONS (lNDlA) LIMITED ("the Compatry"), for the period ended September,30,2023 ("the Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (LODR) Regulations, 2015, as amended including relevant circular issued by the SEBI from time to time.

This statement which is the responsibility of the Company's Management and has been approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the lndian Accounting Standard 34 lnterim Financial Reporting" ('lND AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other Accounting principles generally accepted in lndia and in compliance with the Regulation 33 of the SEBI (LODR) Regulations, 2015, as amended, including relevant circulars issued by the SEBI from time to time. Our responsibility is to issue a report on these Financial Statements based on our review.

We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of lnterim Financial lnformation peiormed by the lndependent Auditor of the Entity', issued by the lnstitute of Chartered Accountants of lndia. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

Based on our review conducted as stated above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable Accounting Standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015,including the manner in which it is to be disclosed, or that it contains any material misstatement.

For, Sanjay Mehta &Associates Chartered nts FRN: 01 1524C

Place: lndore Date: 08th November, 2023 CA Manish Mi

(Partner) M. No. 079452 U Dl N : 2307 9452BGQYH P9262

SYNCOM FORMULATIONS (INDIA) LIMITED

RegdOft :- 7,Niraj Industrial Estate, Off Mahakali Caves Road,Andheri (E) Mumbai-400093

Works.- 256-257, Sector- 1, Pithampur, Dist Dhar-454775

^E Mail:- finance@sfil.in, Website:- www.sfil.in, CIN :- L24239MH1988PLC047759 CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 30TH SEPTEMBER, 2023

s.							(Rs.In Lakhs) ( Except EPS)
No.	Particulars	Quarter Ended			Year to date Ended		Previous Year Ended
		30-09-2023	30-06-2023	30-09-2022	30-09-2023	30-09-2022	31-03-2023
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	Revenue from Operations	6383.89	5983.58	544914	12367.47	10589. 18	22425.42
2	Other Income	399.74	187.47	287.19	587.21	585.16	1459.99
3	Total Income ( 1 + 2)	6783.63	6171.05	5736.33	12954.68	11174.34	23885.41
4	EXPENSES
	( a ) Cost of materials consumed	3325.08	2265.31	2888.04	5590.39	5191.32	9946.06
	( b ) Purchases of Stock-in-Trade	837.11	921.42	978.87	1758.53	1845.93	4261. 14
	( c ) Changes in inventories of finished goods, Stock-in- Trade and
	work-in-progress	(251.75)	368.22	(233.88)	116.47	(81.80)	(37.61)
	( d ) Employee benefits expense (e)Finance costs	900.10	762.81	64326	1662.91	1141.12 11213	2586.56
	( f) Depreciation and amortization expense	107.57	112.17	61 76	219.74		313. 10
	( g ) Other expenses	87.88	110.00	117.50	197.88	217.00	453 93 3706.30
	Total expenses (4)	932.73	1019.85	744.53	1952.58	1715.63 10141.33	21229.48
	Profit/(loss) before exceptional items and tax (3-4)	5938.72	5559.78	5200.08	11498.50
5		844.91	611.27	536.25	1456.18	1033.01	2655.93
6	Exceptional Items Profit/(loss) before tax (5-6)	0.00	0.00	0.00	0.00	0.00	1.33
7		844.91	611.27	536.25	1456.18	1033.01	2657.26
8	Tax expense:
	(1) Current tax	148.62	175.45	142.00	324.07	245.00	66545
	(2) Deferred tax	45.12	(3.81)	35.10	41.31	42.10	(15.26)
9	Profit (Loss} for the period from continuing operations (7-8)	651.17	439.63	359.15	1090.80	745.91	2007.07
10	ProfiV(loss) from discontinued operations	0.00	0.00	0.00	0.00	0.00	0.00
11	Tax expense of discontinued operations	0.00	0.00	0.00	0.00	0.00	0.00
12	ProfiV(loss) from Discontinued operations (after tax) (10-11)			0.00	0.00	0.00	0.00
13	Profit/(loss) for the period ( 9+12)	0.00	0.00		1090.80	745.91	2007.07
	Other Comprehensive Income	651.17	439.63	359.15
14	A(i)ltems that will not be reclassified to profit or loss					0.00	0.00
	(ii) Income tax relating to items that will not be reclassified to profit or	0.00	0.00	0.00	0.00
	loss	0.00	0.00	0.00	0.00	0.00	0.00
	B (i) Items that will be reclassified to profit or loss	124.34	206.77	121.30	331.11	35.94	19636
	(ii) Income tax relating to items that will be reclassified to profit or loss	0.00	0.00	0.00	0.00	0.00	0.00
15	Total Comprehensive Income for the period (Xll+XIV) (Comprising
	Profit (Loss) and Other Comprehensive Income for the period}
		775.51	646.40 9400.00	480.45 9400.00	1421.91 9400.00	781.85 9400.00	2203.43 9400.00
16 17	Paid up Share Capital of the Company (Face Value 1/-) Reserves excluding revaluation reserves	9400.00 0.00	0.00	14779.89	0.00	14779.89	16201.47
18	Earnings per equity share (for continuing operation):
	(1) Basic	0.08	0.07 0.07	0.06 0.06	0.15 0.15	0.09 0.09	0.24 0.24
19	(2) Diluted Earnings per equity share (for discontinued operation).	0.08
	(1) Basic	0.00	0.00	0.00	0.00	0.00	0.00
	(2) Diluted	0.00	0.00	0.00	0.00	0.00	0.00
20	Earnings per equity share (for discontinued & continuing operations)
	(1) Basic	0.08	r 0.07	0.06 0.06	0.15 0.15	0.09 0.09	0.24 0.24

@-

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Regd.Off :- 7,Niraj Industrial Estate, Off Mahakali Caves Road,Andheri (E) Mumbai-400093 Works:- 256-257, Sector - 1, Pithampur, Dist Dhar-454775

^E Mail:- finance@sfil.in, Website:- www .sfil.in, CIN :- L24239MH19BBPLC047759

Rs in Lacs

CONSOLIDATED STATEMENT OF SEGMENT WISE REVENUE, RESULTS ALONG WITH QUARTERLY AND YEARLY AUDITED RESULTS

			Quarter Ended		Year to date Ended	Previous Year Ended
S. No.	Particulars	30-09-2023	30-06-2023	30-09-2022	30-09-2023	30-09-2022	31-03-2023
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	Segment Revenue
	a) Pharmaceuticals Drugs & Formulations	6401.08	5606.59	5644.39	12007.67	10490.19	20997.73
	b) Trading of Commodities	286.04	456.98	1.43	743 02	511.84	2552.40
	c) Renting of Property	96.51	107.48	90.51	203.99	172.31	335.28
	Total Segment Revenue	6783.63	6171.05	5736.33	12954.68	11174.34	23885.41
	Less: Inter Segment Revenue	0.00	0.00	0.00
	Revenue from Operations	6783.63	6171.05	5736.33	12954.68	11174.34	23885.41
2	Segment Results Profit(+)/Loss(-) before tax
	and interest from each segment
	a) Phannaceuticals Drugs & Formulations	855.13	626.21	507.18	1481.34	954.81	2620.83
	b) Trading of Commodities	5.38	-5.70	0.32	-0.32	18.02	32.43
	c) Renting of Property	91.97	102.93	90.51	194.90	172.31	317.10
	Total Profit before tax and Interest	952.48	723.44	598.01	1675.92	1145.14	2970.36
	Less: i) Interest	107.57	112.17	61.76	219.74	112.13	313.10
	ii) Other Un-allocable Expenditure	0.00	0.00	0.00	0.00	0.00	0.00
	Profit before tax	844.91	611.27	536.25	1456.18	1033.01	2657.26
3	(Segment Asset-Segment liabilities)
	Segment Asset
	a) Pharmaceuticals Drugs & Formulations	34572.02	32085.85	32914.59	34572.02	32914.59	32090.72
	b) Trading of Commodities	1063.79	980.14	0.00	1063.79	0.00	958.89
	c) Renting of Property	4733.45	4733.45	4753.65	4733.45	4753.65	4733.45
	Total Segment Asset	40369.26	37799.44	37668.24	40369.26	37668.24	37783.06
	Un-allocable Assets		0.00
	Net Segment Asset	40369.26	37799.44	37668.24	40369.26	37668.24	37783.06
	Segment liabilities
	a) Pharmaceuticals Drugs & Formulations	13057.38	11127.46	13330.61	13057.38	13330.61	11838.21
	b) Trading of Commodities	131.38	260.49	0.00	131.38	0.00	179.91
	c) Renting of Property	163.44	163.56	157.74	163.44	157.74	163.44
	Total Segment liabilities	13352.20	11551.51	13488.35	13352.20	13488.35	12181.56
	Un-allocable liabilities	0.00	0.00	0.00	0.00	0.00	0.00
	Net Segment liabilities	13352.20	11551.51	13488.35	13352.20	13488.35	12181.56

Notes:-

¹ The above Consolidated results were reviewed by the Audit Committee and approved by the Board at its meeting held on 08/11/2023.

² These above Consolidated results have been prepared in compliance with the Indian Accounting Standard (referred to as "Ind AS") as notified prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules 2015 as amended from time to time.

³ The company is operating in ³ segments i.e. (a) Pharmaceuticals Drugs & Formulations (b) Trading of Commodities (c) Renting of Property, particulars of segment wise results are given as required.

⁴ The Consolidated Statement of Assets and Liabilities as at 30th September, ²⁰²³ and the Standalone and Consolidated Statement of Cash Flow is provided as an annexure to this statement.

⁵ Previous period figures have been regrouped/reclassified wherever necessary to confirm to this period classification.

⁶ As required under Regulation ³³ of SEBI (LODR) Regulations, 2015 the limited review by the Statutory Auditors have been completed for the quarter ended on 30th September, 2023. The report does not have any impact on the above results and notes which needs explanation.

⁷ The company has The company has generated Rs. 1035.76 Lakhs being the upfront amount and Rs. 2995.74 Lakhs by conversion 0f 15,93,47,820 warrants to 15,93,47,820 equity shares of Rs. 1/- each issued at ^a premium of Rs. 1.53 per share aggregating Rs. 4031.50 Lakhs. Out of which the company has already utilized the amount of Rs. 3855.75 Lakhs (Including capital work in progress). Remaining unutilized amount of Rs. 175.74 Lakhs will be used in the subsequent period. There is no deviation in the project till 30th Sep ²⁰²³ and necessary report towards as required under regulation ³² being filed to the BSE Ltd. & NSE Ltd. Separately ~haoka,lal Baokda ⁿ

⁸ The company is having three wholly owned subsidiaries namely Synmex Pharma Pvt.Ltd, Sante Biotech Pvt.Ltd and Vincit Biotech International Pvt.Ltd. They have already commenced their business operations.

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Place: Indore

Date: 08/11/2023

For, Syncom Formulations (India) Limited

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"r. 2 ^o Chairman & Wholetime Director ^o Pj] DIN: ^00023050 Lu. e

SYNCOM FORMULATIONS (INDIA) LIMITED

Regd.Off :- 7,Niraj Industrial Estate, Off Mahakali Caves Road,Andheri (E) Mumbai-400093 Works.- 256-257, Sector - 1, Pithampur, Dist: Dhar-454775

^E Mail:- finance@sfilin, Website.- www.sfil.in, CIN :- L24239MH1988PLC047759

Consolidated Statement of Assets & Liabilities as at 30/09/2023

Particulars	30-09-2023	31-03-2023
Rs. In Lacs	unaudited	Audited
ASSETS
Non-current assets
Equipment Property, Plant (a) and	7,265.16	4,322.28
in Progress Capital Work (b)	1.39	2,558.58
(c) Intangible assets	14.60	17.64
Investment Property (d)	4,733.45	4,733.44
Financial (e) Assets
Investments (i)	725.45	183.65
Deposits & Accrued Interest Fixed (ii)	8,410.68	7,572.84
Deposits (iii)	51.75	49.75
Current Non (f) Other Assets	75.14	176.14
assets Current
Inventories (a)	2,015.44	2,120.03
Financial Assets (b)
Investments (i)	6,121.73	6,226.49
(ii) Trade Receivables	9,390.55	7,550.71
(iii) And Cash Equivalents Cash	17.13	87.97
other Bank Balances than (iii) above (iv)	-	775.20
(v) Deposits	384.76	374.42
& Advances Loans (vi)	517.37	276.57
Other Current Assets (d)	644.66	757.34
Total	40,369.26	37,783.05
AND LIABILITIES EQUITY
Equity		9,400.00
Share Capital (a) Equity Other (b) Equity	9,400.00 17,617.06	16,201.47
Liabilities
Liabilities Current
Non Financial Liabilities
(a) other Trade Deposits	163.63	154.14
(i) and	290.04	269.24
Provisions (b)	483.55	442.24
(c) Deferred Liabilities (Net) Tax
· Current liabilities
Financial liabilities (a) Borrowings	8,008.95	8,318.15
(i)
Payables Trade (ii) Total Outstanding Dues of Micro Enterprises and Small Enterprises	385.05	306.91
Total Outstanding Dues of Creditors other than Micro Enterprises and Small Enterprises	2,314.66	1,737.78
Other Financial Liabilities (iii)	216.84	202.18
Other Current Liabilities (b)	1,183.49	489.03
Provisions (c)	305.99	261.91
Total	40,369.26	37,783.05

SYNCOM FORMULATIONS(INDIA) LIMITED

Rega.Oft :- 7,Niraj Industrial Estate, Off Mahakali Caves Road,Andheri (E) Mumbai-400093 Works:- 256-257, Sector - 1, Pithampur, Dist: Dhar-454775

^E Mail:- finance@sfil.in, Website:- www.sfil.in, CIN .- L24239MH1988PLC047759

Consolidated Cash Flow Statement for the half year ended 30/09/2023

Particulars	30-09-2023	31-03-2023
Rs. In Lacs	unaudited	Audited
Cash Flow from Operating Activities
Profit before extraordinary item and tax	1,456.18	2,655.93
Adjustments for:
Gain on Sale of Machinery/ (Loss on Sale of Vehicle)		1.33
Gain/(Loss) on Actuarial valuation of employee benefits	(6.35)	(3.73)
Depreciation	197.88	453.93
Depreciation Written Back		(8.28)
Finance Costs	219.74	313.10
Other Income	(578.43)	(1,367.76)
Operating Profit before working capital changes	1,289.02	2,044.52
Changes in Working Capital
Inventory	104.57	(169.40)
Trade Receivables	(1,839.84)	(795.70)
Loans & Advances	(240.79)	54.58
Other Current Assets	102.34	(366.94)
Trade Payables	655.02	665.55
Other Financial Liabilities	14.66	183.00
Other Current Liabilities	694.46	225.58
Short Term Provisions	37.72	(122.81)
Changes in Working Capital	(471.86)	(326.14)
Cash Generated from Operations before Tax	817.16	1,718.38
Less: Income Tax Paid	324.07	665.45
Net Cash From Operating Activities	493.09	1,052.93
Cash Flow from Investing Activities
Change in Property Plant and Equipment, Intangible Assets and Capital Work	(580.53)	(2,063.47)
in Progress
Change in Investment Property	-	(20.10) (1,935.29)
Change in Fixed Deposit & Accrued Interest	(62.63)	(16.00)
Change in Deposits	(2.00) 101.01	43.04
Change in Other Non Current Assets Change in Trade & Other Deposits	9.49	6.49
	578.43	1,367.76
Other Income Change in Investment	(99.58)	(1,877.70)
Net Cash from Investing Activities	(55.81)	(4,495.27)
Cash Flow from Financing Activities
Finance Costs	(219.74)	(313.10)
Change in Long Term Liabilities	20.81	98.29
Issue of Warrants & Share capital		1,457.88
Dividend Paid		(282.00)
Borrowings	(309.19)	2,539.07
Net Cash from Financing Activities	(508.12)	3,500.14
Net Decrease in Cash & Cash Equivalents	(70.84)	57.80 30.17
/ at the beginning of the Period Cash & Cash Equivalents	87.97
Cash & Cash Equivalents at the End of Period 4	17.13	87.97

Limited Review Report on Un-audited Consolidated Financial Results for the Quarter and Half Year ended 30th September,2023 pursuant to Regulation 33 of the SEBI (LODR) Regulations,20l5

To, The Board of Directors SYNCOM FORMULATIONS (INDIA) LIMITED Indore (M.P.)

• 1. We have reviewed the accompanying statement of Consolidated Unaudited Financial Results of SYNCOM FORMULATIONS (INDIA) LIMITED ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), for the period ended September 30,2023 ("the Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (LODR) Regulations,2015, as amended including relevant circular issued by the SEBI from time to time.
• This statement which is the responsibility of the Company's Management and has been approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 Interim Financial Reporting" ("IND AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other Accounting principles generally accepted in India and in compliance with the Regulation 33 of the SEBI (LODR) Regulations, 2015, as amended, including relevant circulars issued by the SEBI from time to time. Our responsibility is to issue a report on these Financial Statements based on our review. )
• We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, o'Review of Interim Financial Information performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. 3.

S. No.	Name of the Company	Relationship with the Holdine Company
1	Sante Biotech Pvt. Ltd.	Whollv Owned Subsidiary
2.	Synmex Pharma Pvt. Ltd.	Wholly Owned Subsid ary
J.	Vincit Biotech International Pvt. Ltd.	Wholly Owned Subsid ary

1. The Statement includes the results of the following entity:

1. Based on our review conducted as stated above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable Accounting Standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 20l5,including the manner in which it is to be disclosed, or that it contains any material misstatement.

Foro Sanjay Chartered

FRN:011 ffis Wq

Place: Indore Date: 08th November 2023 CA Manish

(Partner) M. No. 079452 UDIN: 2307 9 412BGQYHQ8544