SYNCOM/SE/2023-24 14th February, 2024

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: Submission of the Un-Audited Standalone and Consolidated Financial Results along with Limited Review Report thereon for the Quarter and Nine Months ended on 31st December, 2023 as per Regulation 33(3)(d) of SEBI (LODR) Regulations, 2015.

Dear Sir/Ma'am,

This is in continuation of our letter no. SYNCOM/SE/2023-24 dated 6 th February, 2024 regarding intimation of Board meeting for consideration and approval of Standalone and Consolidated Un-Audited Financial Results for the Quarter and Nine Months ended on 31st December, 2023.

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

1. Standalone and Consolidated Unaudited Financial Results of the Company for the Quarter and Nine Months ended on 31st December, 2023;
1. Standalone and Consolidated Limited Review Report by the Statutory Auditors of the company for the Quarter and Nine Months ended on 31st December, 2023.

which was considered and approved by the Board at their 5/2023-24 Meeting held on Wednesday, the 14 th February, 2024.

The meeting of the board of directors was commenced at 11:00 AM and concluded at 05:20.PM.

We are also in process to file the aforesaid financial results in XBRL format within the stipulated time and same shall also be hosted at the website of the company www.sfil.in.

The Financial Results will also be published in widely circulated English & Marathi (Vernacular) newspaper in the prescribed format for that purpose.

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: 2024.02.14 17:13:20 +05'30'

CS VAISHALI AGRAWAL COMPANY SECRETARY & COMPLIANCE OFFICER Encl: Standalone and Consolidated Un-Audited Financial Results and Limited Review Report.

SANJAY MEHTA & ASSOGIATES

Limited Review Report on Un-audited Standalone Financial Results for the Quarter & Ninth Month ended 3l" December,2023 pursuant to Regulation 33 of the SEBI (LODR) Regulations, 20r5

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

We have reviewed the accompanying statement of Standalone Unaudited Financial Results of SYNCOM FORMULATIONS (INDIA) LIMITED ("the Company"), for the period ended December. 31.2023 ("the Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (LODR) Regulations,20l5, as amended including relevant circular issued by tlre 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 Interirn Financial Reporting" ("lND AS 34"), prescribed under Section 133 of the Cornpanies Act, 2013" and other Accounting principles generally accepted in India and in compliance with the Regulatiort 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 Errgagements (SRE) 2410, "Ret,iew o.f Interim Financial lffirmation performed by the Independent Auditor o.f 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 flnancial statements are fiee of material misstatement. A review is limited prirnarily 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, nothirrg has come to our attention that causes us to believe tirat the accompanying Statement, prepared in accordance with applicable Accountittg Standards and other recognized accounting practices and policies has not disclosed the infbrmation required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirenrents) Regulations, 20l5,including the manner in which it is io be disclosed, or that it contains any material misstatement.

Place: lndore Date: l,lth February, 2024 A Manish Mitt

For, Sanjay Mehta &Associates Chartered ntants FRN: 01 I (Partner) M. No. 079452 i U DIN : 2407 9152BJZYSX8939

F- SYNCOM FORMULATTONS (rNDrA) LTMTTED

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

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

E Meil:- [email protected], Website:- www.sfil.in, CIN :- 124239MH1988P1C047759

STANDALONE UNAUOITED FINANCIAL RESULTS FOR THE QUARTERYNINE MONTHS ENDED 3.IST DECEMBER, 2023

s.	Particulars		Quarter Ended		Rs. ln Lacs except EPS Nine months Year Ended
No.
		31.12-2023	30-09-2023	31-12-2022	31-12-2023	31-12-2022	31{3-2023
		Unaudited	Unaudited	UnauditeU	Unaudited	Unaudited	Audited
,l	(evenue rrom uperatons	6334,22	6238.68	5738.29	18509.33	16327.47	22161.39
2	)ther lncome	434.89	400,35	1 97.85	1022.98	783.01	[email protected]
	total lncome(1+2)	6769.1 1	6639.03	5936.1 4	1 9532.31	17110.48	23925.34
4	EXPENSES
	( a ) Cost of materials consumed ( b ) Purchases of Stock-in-Trade	3774.65 398.25	3325.08 819.89	2199.90 1094.05	9365.04 2132.22	7391.22	9946.06
	( c ) Changes in inventories of finished goods, Stock-in- Trade					2939.98	4261.'14
	and work-in-progress	(279.99)	(308.60)	183.32	(198.06,	10't.52	5.03
	( d ) Employee benefits expense	973.63	900.1 0	725.67	2636.54	1 866.79	2586.56
	(e)Financecosts	1 08.1 6	107.57	7'1.70	327.90	183.83	313.02
	( f ) Depreciation and amortizalion expense	144.58	87.88	120.15	342.46	337.1 5	453.93
	(g)Otherexpenses	787 .71	893.03	944.79	2668.67	2660.42	3704.28
	Totalexpenses(4)	5906.99	5824.95	5339.58	't7274.77	1 5480.91	21270.02
5	Pronu(loss) before oxcoptlonal ltams and tax (3.4)	862.12	8t 4.08	596.56	2257.54	1629.57	2655.32
6	Exceptional ltems	(2.39	0.00	0.00	(2.3s)	0.00	1.33
7	Profiu(loss) before tax ( 5 .6 )	859.73	814.08	596.56	2255.',t5	1 629.57	2656.65
I	Iax expense:
	,'1) Current tax .2) Deferred tax	207.81 9.85	148.41 45.12	161 .00 21.O5	516.52 51.16	406.00 63.1 5	664.84 (15.26',
9	)rofit (Loss) for th6 period from continuing operations (7-8)
		642.07	620.55	414.51	1687.47	1160.42	2007.07
10 11	)rofiu(loss) from disconlinued operations fax expense of discontinued operations	0,00	0.00	0.00	U.UU 0.00	U.UU 0.00	U.W 0.@
12	rrofiu(loss) from Discontinued operations (after tax) (10-1 1)
		0.00	0.00	0.00	0.00	0.00	0.@
'13	>rofiu(loss) for the period ( 9 + 12 )	642.07	620.55	414.51	1687.47	1160.42	2007.07
14	Other Comprehensive lncome A(l)ltems that will not be reclassified to profit or loss
	lll) lncome tax relating to items that will not be reclassified tc	0.00	0.00	0.00	0.00	0.00	000
	crofit or loss	0.00	0.00	0.00	0.00	0.00	0.00
	3 (l) ltems that wrll be reclassified to proflt or loss	185.71	124.34	111.57	516.82	147.51	196.36
	lll) lncome tax relating to items that will be reclassifled to profil
15	lr loss fotal Compr€hensive lncome for the perlod (Xlll+Xlv)	0.00	0.00	0.00	0.00	0.00	0.00
	lcomprlslng Profit (Loss) and Other Comprohenslvc
	ncome for ths perlod)	827.78	744.89	526.08	2204.29	1307.93	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	0.09	0,08	0.06	0.23	0.14	0.24
19	(2) Diluted Earnings per equity share (for discontinued operation):	0.09	0.08	0.06	0.23	0.14	o.24
	(1) Basrc
	(2) Diluted	000 0.00	0.00 0.00	0.00 0.00	0.00 0.00	0.00 0.00	0.00 0.00
20	Eamings per equiiy share (for discontinued & continuing
	operations)
	(1) Basic (2) Oiluled	0.09 0.09	0.08 0.08	0.06 0.06	0.23 o.23	0.14 0.14	o.24 0.24

Place: lndore

Oate:1410212024

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:- [email protected], Website:- www.sfil.in, CIN :- L24239MH1988PLC047759

STANDALONE STATEMENT OF SEGMENT WISE REVENUE, RESULTS ALONG WITH QUARTERLY /NINE MONTHS ENDED 31.12.23 UNAUDITED RESULTS

							Rs. In Lacs
	Particulars		Quarter Ended		NINE MONTHS	Previous Year Ended
S. No.		31-12-2023	30-09-2023	31-12-2022	31-12-2023	31-12-2022	31-03-2023
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
$\mathbf{1}$	Segment Revenue
	a) Pharmaceuticals Drugs & Formulations	6554.80	6255.88	4615.43	18370.09	15105.62	21037.66
	b) Trading of Commodities	114.39	286.04	1237.55	857.41	1749.39	2552.40
	c) Renting of Property	99.92	97.11	83.16	304.81	255.47	335.28
	Total Segment Revenue	6769.11	6639.03	5936.14	19532.31	17110.48	23925.34
	Less: Inter Segment Revenue	0.00	0.00	0.00	0.00	0.00	0.00
	Total Income	6769.11	6639.03	5936.14	19532.31	17110.48	23925.34
$\overline{2}$	Segment Results Profit(+)/Loss(-) before tax
	and interest from each segment
	a) Pharmaceuticals Drugs & Formulations	873.62	823.70	583.94	2293.30	1538.75	2620.14
	b) Trading of Commodities	$-1.11$	5.38	1.16	$-1.43$	19.18	32.43
	c) Renting of Property	95.38	92.57	83.16	291.18	255.47	317.10
	Total Profit before tax and Interest	967.89	921.65	668.26	2583.05	1813.40	2969.67
	Less: i) Interest	108.16	107.57	71.70	327.90	183.83	313.02
	ii) Other Un-allocable Expenditure	0.00	0.00	0.00	0.00	0.00	0.00
	Profit before tax	859.73	814.08	596.56	2255.15	1629.57	2656.65
$\overline{\mathbf{3}}$	(Segment Asset-Segment Liabilities)
	Segment Asset
	a) Pharmaceuticals Drugs & Formulations	36167.12	34624.25	33163.26	36167.12	33163.26	32002.05
	b) Trading of Commodities	41.27	1063.79	0.00	41.27	0.00	958.89
	c) Renting of Property	4740.64	4733.45	4733.45	4740.64	4733.45	4733.45
	Total Segment Asset	40949.03	40421.49	37896.71	40949.03	37896.71	37694.39
	Un-allocable Assets
	Net Segment Asset	40949.03	40421.49	37896.71	40949.03	37896.71	37694.39
	Segment Liabilities
	a) Pharmaceuticals Drugs & Formulations	12936.79	13155.03	13032.44	12936.79	13032.44	11749.56
	b) Trading of Commodities	52.11	131.38	0.00	52.11	0.00	179.91
	c) Renting of Property	163.91	163.44	157.79	163.91	157.79	163.44
	Total Segment Liabilities	13152.81	13449.85	13190.23	13152.81	13190.23	12092.91
	Un-allocable Liabilities	0.00	0.00	0.00	0.00	0.00	0.00
	Net Segment Liabilities	13152.81	13449.85	13190.23	13152.81	13190.23	12092.91

Notes:-

1 The above results were reviewed by the Audit Committee and approved by the Board at its meeting held on 14/02/2024.

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 As required under Regulation 33 of SEBI (LODR) Regulations, 2015 the limited review by the Statutory Auditors have been completed for the quarter/nine months ended on 31st December, 2023. The report does not have any impact on the above results and notes which needs explanation.

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

6 The company has generated (From FY-2020-21 to FY-2022-23) Rs. 1035.76 Lakhs being the upfront amount and Rs. 2995.74 Lakhs by conversion of 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. 3994.16 Lakhs (Including capital work in progress), Remaining unutilized amount of Rs. 37.34 Lakhs will be used in the subsequent period. There is no deviation in the project till 31st Dec 2023 and necessary report towards as required under regulation 32 being filed to the BSE Ltd. Separately

Place: Indore

Date: 14/02/2024

SAXJAY MEHTA & ASSOCIATES

ChrteredAccountants

Limited Review Report on Un-audited Consolidated Financial Results for the Quarter and Nine Months ended 3l't December,2023 pursuant to Regulation 33 of the SBBI (LODR) Regulations,20l5

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

l. 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 ref'erred to as "the Group"), fbr the period ended December, 31, 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.
1. 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 India and in compliance with the Regulation 33 of the SEBI (LODR) Regulations,20l5, 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.
1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Finoncial Information perfctrmed by the Independent Auditor o/'the Entity", issued by the Institute of Chartered Accountants of India. This standard recluires that we plan and perform the review to obtain moderate assurance as to whether the flnancial statements are fiee of material misstatement. A review is limited primarily to inquiries of oompany 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.

S. No.	Name of the Company	Relationship with the Holding
		Company
l.	Sante Biotech Pr,t. Ltd.	Whollv Owned Subsidiary
2	Synmex Pharma Pvt. Ltd	Wholly Owned Subsidiary
J.	Vincit Biotech International Pvt. Ltd.	Wholly Owned Subsidiary

The Statement includes the results of the lbllowing entity:

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.

Chartered Accountants

For, Sanjay Mehta &Associates

Place: Indore Date: l4tr' February, 2024

(Partner) M. No. 079452 UDIN : 2407 9 452BJZY SY 6937

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:- [email protected], Website:- www.sfil.in, CIN :- L24239MH1988PLC047759

CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER/NINE MONTHS ENDED 31ST DECEMBER , 2023

					Nine months	Rs. In Lacs except EPS Year Ended
S.	Particulars		Quarter Ended
No.		31-12-2023	30-09-2023	31-12-2022	31-12-2023	31-12-2022	31-03-2023
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
$\mathbf{1}$	Revenue from Operations	6513.95	6383.89	5738.29	18881.42	16327.47	22425.42
$\overline{2}$	Other Income	455.54	399.74	197.85	1042.75	783.01	1459.99
$\overline{3}$	Total Income $(1 + 2)$	6969.49	6783.63	5936.14	19924.17	17110.48	23885.41
$\overline{4}$	EXPENSES
	a) Cost of materials consumed	3774.65	3325.08	2199.90	9365.04	7391.22	9946.06 4261.14
	(b) Purchases of Stock-in-Trade	450.11	837.11	1094.05	2208.64	2939.98
	c) Changes in inventories of finished goods, Stock-in-Trade and work-in-progress	(271.89)	(251.75)	183.32	(155.42)	101.52	(37.61)
	(d) Employee benefits expense	973.63	900.10	725.67	2636.54	1866.79	2586.56
	(e) Finance costs	108.16	107.57	71.70	327.90	183.83	313.10
	(f) Depreciation and amortization expense	144.58	87.88	120.15	342.46	337.15	453.93
	(g) Other expenses	851.74	932.73	944.82	2804.32	2661.13	3706.30
	Total expenses (4)	6030.98	5938.72	5339.61	17529.48	15481.62	21229.48
5	Profit/(loss) before exceptional items and tax (3-4)	938.51	844.91	596.54	2394.69	1628.86	2655.93
6	Exceptional Items	(2.39)	0.00	0.00	(2.39)	0.00	1.33
		936.12	844.91	596.54	2392.30	1628.86	2657.26
7	Profit/(loss) before tax (5 - 6)
8	Tax expense: (1) Current tax	226.10	148.62	161.00	550.17	406.00	665.45
	(2) Deferred tax	9.85	45.12	21.05	51.16	63.15	(15.26)
$\overline{9}$	Profit (Loss) for the period from continuing operations (7-8)	700.17	651.17	414.49	1790.97	1159.71	2007.07
10	Profit/(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	Profit/(loss) from Discontinued operations (after tax) (10-11)		0.00	0.00	0.00	0.00	0.00
		0.00 700.17	651.17	414.49	1790.97	1159.71	2007.07
13 14	Profit/(loss) for the period (9 + 12) Other Comprehensive Income
	A(i) Items 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	185.71	124.34	111.57	516.82	147.51	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	Total Comprehensive Income for the period (XIII+XIV)
	(Comprising Profit (Loss) and Other Comprehensive
	Income for the period)	885.88	775.51	526.06	2307.79	1307.22	2203.43
16	Paid up Share Capital of the Company (Face Value 1/-)	9400.00	9400.00	9400.00	9400.00	9400.00 0.00	9400.00 16201.47
17	Reserves excluding revaluation reserves	0.00	0.00	0.00	0.00
18	Earnings per equity share (for continuing operation):						0.24
	$(1)$ Basic	0.09 0.09	0.08 0.08	0.06 0.06	0.25 0.25	0.14 0.14	0.24
	(2) Diluted Earnings per equity share (for discontinued operation):
19		0.00	0.00	0.00	0.00	0.00	0.00
	$(1)$ Basic	0.00	0.00	0.00	0.00	0.00	0.00
20	(2) Diluted Earnings per equity share (for discontinued & continuing
	operations)					0.14	0.24
	$(1)$ Basic (2) Diluted	0.09 0.09	0.08 0.08	0.06 0.06	0.25 0.25	0.14	0.24

Place: Indore

SYNCOM

Date: 14/02/2024

Svrucoru FoRMULATIoNS (lNDlA) LlMlrED

Rsgd.Off: T,Niraj lndustrial Estate,Off Mahakali Cavos Road,Andheri (E) Mumbai-400093

Worksi 256-257, Sector - 'l, Pithampur, Disi: Dhar-454775

^EMailr [email protected], Website: ww.sfil.in, CIN :- 124239MH'1988P1C047759

CONSOLIDATEO STATEMENT OF SEGMENT WISE REVENUE, RESULTS ALONG WITH QUARTERLY/NINE MONTHS ENDED 31/1212023 UNAUDITED RESULTS

	Pharmaceuticals Drugs & Formulations
	Trading of Commoditios
	Renting of Property



	Results Profi t(+)/Loss(-) bofore tax

	Phamaceuti€ls Drugs & Formulstions
	Trading of Commodities
	Renting of Property






	Pharmaceuticals 0rugs & Formulations
	Trading of Commodilies

	Renting of Prop€rty



	Pharmaceuticals Drugs & Formulations					1 1838.21
	Trading of Commodities					179.91
	Renting of Property

1 The above results were reviewed by the Audit Committee and approved by the Board at its meeting held o ^1410212024

ZO13 reed with Companios (lndian Accounting Standards) Rules 2015 as amended from lime to time.

given as required.

⁴As required under Regulation 33 of sEBl (LoDR) Regulations, 2015 the limited roview by the statutory Auditors have been completed for the quarter/nine months ended on 31st Ddcember, 2023. The-report does nol have any impact on the above results and notes which needs explanation.

⁵previous period figures have been regrouped/reclassilied wherever necessary lo confirm lo this period classilication.

6 The company has generated (Frcm Fy-2020-21 to 2022-29) Rs. 1 035.76 Lakhs being the upfront amount and Rs. 2995.74 Lakhs by conversion of 1 5,93,47,820 warrants lo 1 5,93,47,g20 equity shares of Rs. 1/- each issued at a premium of Rs. 1 .53 per sharJ aggregating Rs. 4031.50 Lakhs. out of which the company has already utilized the amount of ³¹sl Dec 2023 and necessary report towards as required under regulation 32 being filed to the BSE Ltd. Separately

AI assistant

Syncom Formulations (India) Ltd. Interim / Quarterly Report 2024